Option to Lease Clause Samples

Option to Lease. (a) As of the Effective Date, Landlord grants to Tenant the exclusive option to lease the Premises (the “Option”) during the Option Period (defined below). At any time during the Option Period and Term (defined below), Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property, in the vicinity of the Premises, to inspect, examine, conduct soil borings, drainage testing, material sampling, and other geological or engineering tests or studies of the Property (collectively, the “Tests”), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises including, without limitation, applications for zoning variances, zoning ordinances, amendments, special use permits, construction permits and any other permits and approvals deemed necessary by Tenant (collectively, the “Government Approvals”), initiate the ordering and/or scheduling of necessary utilities, obtain a title report with respect to the Property, and otherwise to do those things on or off the Property that, in the opinion of ▇▇▇▇▇▇, are necessary in ▇▇▇▇▇▇’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, and the feasibility or suitability of the Property for Tenant’s permitted use under this Agreement, all at Tenant’s expense. Tenant shall be authorized to apply for the Government Approvals on behalf of Landlord and Landlord agrees to reasonably cooperate with such applications. Tenant will not be

Option to Lease. The Receiver hereby grants to the Assuming Bank an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to cause the Receiver to assign to the Assuming Bank any or all leases for leased Bank Premises, if any, which have been continuously occupied by the Assuming Bank from Bank Closing to the date it elects to accept an assignment of the leases with respect thereto to the extent such leases can be assigned; provided, that the exercise of this option with respect to any lease must be as to all premises or other property subject to the lease. If an assignment cannot be made of any such leases, the Receiver may, in its discretion, enter into subleases with the Assuming Bank containing the same terms and conditions provided under such existing leases for such leased Bank Premises or other property. The Assuming Bank shall give notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into subleases or new leases in lieu thereof). The Assuming Bank agrees to assume all leases assigned (or enter into subleases in lieu thereof) pursuant to this Section 4.6.

Option to Lease. The Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to cause the Receiver to assign to the Assuming Institution any or all leases for leased Bank Premises, if any, which have been continuously occupied by the Assuming Institution from Bank Closing to the date it elects to accept an assignment of the leases with respect thereto to the extent such leases can be assigned; provided, that the exercise of this option with respect to any lease must be as to all premises or other property subject to the lease. If an assignment cannot be made of any such leases, the Receiver may, in its discretion, enter into subleases with the Assuming Institution containing the same terms and conditions provided under such existing leases for such leased Bank Premises or other property. The Assuming Institution shall give notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into subleases or new leases in lieu thereof). The Assuming Institution agrees to assume all leases assigned (or enter into subleases or new leases in lieu thereof) pursuant to this Section 4.6. If the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for the Fixtures, Furniture and Equipment located on such leased Bank Premises.

Option to Lease. The Receiver grants to the Assuming Institution an exclusive option for the period of sixty (60) days commencing the day after the Bank Closing Date to cause the Receiver to assign to the Assuming Institution any or all leases for leased Bank Premises, if any, to the extent those leases can be assigned; provided that the exercise of this option with respect to any lease must be as to all premises or other property subject to that lease. To the extent the lease payments provided for in any assigned lease are minimal in relation to the current market rate as determined by the Receiver, the Assuming Institution will pay the Receiver the Market Value of the Receiver’s interest in that assigned lease. The Assuming Institution will give written notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into new leases in lieu thereof). The Assuming Institution will assume all leases assigned (or enter into new leases in lieu thereof) pursuant to this Section 4.6.

Option to Lease. During the term of this Agreement, or during the term of any extension hereof, LICENSEE may exercise an option to lease the PREMISES pursuant to the terms and conditions set forth in the Mining Lease attached hereto as EXHIBIT "B" and made a part hereof as though set forth in its entirety. The option to lease shall be deemed exercised when LICENSOR has received a certified check in the amount of Five Thousand Dollars ($5,000.00), together with two (2) copies of EXHIBIT "B" that have been executed by LICENSEE. LICENSOR shall sign one copy and return it promptly to LICENSEE. If LICENSOR is the owner at the date of exercise of this option of less than one hundred percent (100%) of the title to the PREMISES, LICENSOR shall receive an amount equal to LICENSOR's percentage ownership multiplied by Five Thousand Dollars ($5,000.00) pursuant to this paragraph. 49.

Option to Lease. Upon expiration or termination of this Agreement in its entirety, CLIENT shall have the option to enter a long-term lease of the Singapore Facility or the portion of the Singapore Facility where Products are manufactured or purchase the Singapore Facility if production of Products occupy one hundred percent (100%) of the Singapore Facility or are the only products manufactured in the Singapore Facility, provided that such option shall be subject to good faith negotiations between the Parties regarding the terms of any such lease or purchase agreement, on terms and conditions to be negotiated in good faith and included in the lease. Notwithstanding the foregoing, if CLIENT exercises such option, LONZA will have the right to rent back those portions of the Singapore Facility necessary to continue to use the Singapore Facility to fulfill existing manufacturing obligations until such obligations are able to be reasonably transitioned to other Facilities.

Option to Lease. The Landlord hereby grants CleanTech (including any affiliate of CleanTech) the right, but not the obligation (the “Lease Option”), to enter into the Lease Agreement on or before the date that is the 30th day following the date that the Threshold Permit and Approval is issued by the NJ DEP (the “Option Date”).

Option to Lease. During the term of this Lease Agreement and provided Lessee is not otherwise in default under this Lease agreement, Lessee shall have the right to lease all of Suite 365 comprised of 1,100 rentable square feet (the "Dacom America Premises"); and/or Suite 370 comprised of 1,485 rentable square feet (the "2001 Real Estate premises"), and/or Suite 375 comprised of 800 rentable square feet (the "ASN Premises"). (The Dacom America Premises, 2001 Real Estate Premises and the ASN Premises are collectively, the "Expansion Premises") Lessee Shall exercise its Option granted herein by the delivery of a notice (the "Notice to Exercise") no later than December 31, 1999 Time shall be Of the essence with respect to the delivery of the Notice to Exercise. The Notice to Exercise shall specify if Lessee has exercised its option to lease all or a portion of the Expansion Premises. If Lessee shall elect to lease a portion of the Expansion Premises, Lessee shall lease all of the Dacom America premises or all of the 2001. Real Estate Premises or all of both, and Lessee shall have no further option to lease the ASN Premises. Lessee shall take possession of the Expansion Premises and the term thereof or shall commence September 1, 000 and the Lease Expiration Date shall be extended to August 31, 2005. Basic Rent for the Expansion Premises shall be a sum equal to the aggregate Rentable Square Feet comprising the Expansion Premises (or the portion thereof as aforementioned) multiplied by the Basic Rent in effect for the Third Floor Premises on a square foot basis through May 31, 2003 including increases In the same manner as provided with respect to the Third Floor Premises. Thus, if Lessee shall exercise its option granted herein to lease the entire Expansion Premises, the Third Floor Premises shall be increased to 16,385 Rentable Square Feet and Basic Rent shall be as follows: Original Third Floor Premises (13 000 Rentable Square Feet) ---------------------------- Period Per Annum Per Month ------ --------- --------- 9/1/00 to 8/31/01 $325,000.00 $27,083.33 9/1/01 to 8/31/02 328,250.00 27,354.17 9/1/az to 8/31/03 331,500.00 27,625.00 Expansion Premises (3385 Rentable square Feet) -------------------------- Period Per annum Per Month ------ --------- --------- 9/1/00 to 8/31/01 $ 84,525.00 $ 7,052.08 9/1/01 to 8/31/0 85,471.25 7,122.60 9/1/02 to 8/31/03 86,317.50 7,193.13 Third Floor Premises (l6,385 Rentable square Feet) ---------------------------- Period Per Annum Per Month --...

Option to Lease. Optionor hereby grants to Optionee an Option to Lease the Land (hereinafter "Option to Lease") , which Option to Lease shall be exercisable by Optionee for a period of nine (9) months after the execution of this Agreement (the "Lease Option Period") (i.e., the last date of the Lease Option Period will be November 13, 1997). The form of the Lease ("the Lease") which is to be the subject of the Option to Lease is attached hereto as Exhibit "2". The Lease Commencement Date shall not be later than the day following the end of the Lease Option Period, or any extension thereof. The Lease will not be effective until the Lease Jd / P.S. --------------------- initials / initials 1 Commencement Date, whether or not it is signed prior to the Lease Commencement Date, and the Lease shall be signed by Optionor (as Lessor) and Optionee (as Lessee) on or before the Lease Commencement Date.