Common use of Option to Lease Clause in Contracts

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

Appears in 2 contracts

Sources: Option and Lease Agreement, Option and Lease Agreement

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, Property 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 ▇▇▇▇▇▇Tenant, 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 bebe liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by ▇▇▇▇▇▇’s Tests. Tenant will restore the Property to its condition as it existed prior to conducting any Tests, reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of ▇▇▇▇▇▇’s Tests. (b) In consideration of Landlord granting Tenant the Option, ▇▇▇▇▇▇ agrees to pay Landlord the sum of Two Thousand Dollars ($2,000.00) within thirty (30) days of the full execution of this Agreement. The Option Period will be for a term of two (2) years from the Effective Date (the “Option Period”). (c) Tenant may exercise the Option at any time during the Option Period by delivery of written notice to Landlord (the “Notice of Exercise of Option”). The Notice of Exercise of Option shall set forth the commencement date (the “Commencement Date”) of the Initial Term (defined below). If Tenant does not provide a Notice of Exercise of Option during the Option Period, this Agreement will terminate and the parties will have no further liability to each other. (d) During the Option Period or the Term, Landlord shall not take any action to change the zoning status or land use of the Property which would diminish, impair, or adversely affect the use of the Premises by Tenant for its permitted uses hereunder.

Appears in 2 contracts

Sources: Option and Lease Agreement, Option and Lease Agreement

Option to Lease. (a) As of the Effective Date, Landlord grants to Tenant an option (the exclusive option "Option") to lease a portion of the Premises Property consisting of (i) a room/cabinet/ground area space of approximately One thousand five hundred forty six (1546) square feet approximately 70’ x 13.5’ including the “Option”air space above such room/cabinet/ground space and (ii) space on the structure together with such easements as are necessary for the antennas and initial installation as described on attached Exhibit 1 (collectively, the "Premises"). (b) During the Option period and any extension thereof, and during the Option Period (defined below). At any time during the Option Period and Term (defined below)term of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property, in the vicinity of the Premises, Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing 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, and include without limitation, limitation applications for zoning variances, zoning ordinances, amendments, special use permits, and 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 ▇▇▇▇▇▇Tenant, are necessary in ▇▇▇▇▇▇Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s permitted use under this AgreementPermitted Use, all at Tenant’s expense. Tenant shall will not be authorized liable to apply for Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Government Approvals on behalf of Landlord and Landlord agrees to reasonably cooperate with Property, whether or not such applicationsdefect or condition is disclosed by Tenant’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below), reasonable wear and tear and casualty not becaused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of Tenant’s Tests. (c) In consideration of Landlord granting Tenant the Option, Tenant agrees to pay Landlord the sum of FIVE HUNDRED and No/100 Dollars ($500.00) within thirty (30) business days of the Effective Date. The Option will be for an initial term of one (1) year commencing on the Effective Date (the "Initial Option Term") and may be renewed by Tenant for an additional one (1) year upon written notification to Landlord and the payment of an additional FIVE HUNDRED and No/100 Dollars ($500.00) no later than ten (10) days prior to the expiration date of the Initial Option Term. (d) The Option may be sold, assigned or transferred at any time by Tenant to Tenant’s parent company or member if Tenant is a limited liability company or any affiliate or subsidiary of, or partner in, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereof. Otherwise, the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action. (e) During the Initial Option Term and any extension thereof, Tenant may exercise the Option by notifying Landlord in writing. If Tenant exercises the Option then Landlord leases the Premises to the Tenant subject to the terms and conditions of this Agreement. If Tenant does not exercise the Option during the Initial Option Term, or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other. (f) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if the Option is exercised, Landlord decides to subdivide, sell, or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property (the “Surrounding Property,” which includes (without limitation) the remainder of the structure) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale of the Property shall be subject to Tenant’s rights under this Agreement.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Option to Lease. UPR hereby grants to Royal the sole and exclusive right and option, exercisable at any time and from time to time during the Initial Term or any Extension Period of this Restated Agreement, to enter into a mining lease covering portions of the Subject Property or to cause mining leases covering portions of the Subject Property to be executed and delivered to third parties nominated by Royal, upon the following terms and conditions: (a) As Royal shall describe and designate one or more Prospect Areas to UPR. Prospect Areas are defined as blocks of lands and interests comprising designated portions of the Effective DateSubject Property and lands and interests lying within one (1) mile, Landlord grants measured in all directions, from such designated portions of the Subject Property. No Prospect Area shall comprise more than one designated six hundred forty (640) contiguous acre block of the Subject Property and the lands and interests lying within one (1) mile, measured in all directions, from such designated block. (b) Royal shall demonstrate to Tenant UPR's reasonable satisfaction that it has made qualified work expenditures of at least Fifty Thousand Dollars ($50,000.00) within or for the exclusive option to direct benefit of each such designated Prospect Area. Royal shall provide UPR with a summary statement detailing all qualified work expenditures. (c) All mining leases issued hereunder covering precious metals shall be substantially in the form of Exhibit A attached hereto; and all mining leases issued hereunder covering diamondiferous minerals shall be substantially in the form of Exhibit A attached hereto, with the presumption that the production royalty for a diamond lease shall be the Premises greater of four percent (4%) of "Net Returns" or twelve percent (12%) of "Net Profits" derived from such property. Each such mining lease shall cover a maximum of six hundred forty (640) and a minimum of one hundred sixty (160) contiguous acres of Subject Property (full section or full quarter section or the “Option”aliquot equivalent thereof) during within the Option Period (defined below)designated Prospect Area. At any time during the Option Period and Term (defined below), Tenant and its agents, engineers, surveyors and other representatives will have the Royal's right to enter upon the Property, into mining leases or to cause mining leases covering diamonds or precious metals to be issued hereunder shall not be conditioned on Royal's prior discovery of commercial quantities of diamonds or precious metals in the vicinity portion of the Premises, Subject Property 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 be covered 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 beleases.

Appears in 1 contract

Sources: Option Agreement (Royal Gold Inc /De/)

Option to Lease. (a) As of the Effective Date, Landlord grants to Tenant an option (the exclusive option "Option") to lease a certain portion of the Property containing approximately Two Thousand Five Hundred Seventy (2m570) square feet including the air space above such room/cabinet/ground space as described on attached Exhibit 2, together with unrestricted access for Tenant’s uses from the nearest public right-of-way along the Property to the Premises as described on the attached Exhibit 2 (collectively, the “Option”"Premises"). (b) During the Option period and any extension thereof, and during the Option Period (defined below). At any time during the Option Period and Term (defined below)term of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property, in the vicinity of the Premises, Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing 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 includingand include, without limitation, applications for zoning variances, zoning ordinances, amendments, special use permits, and 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 ▇▇▇▇▇▇Tenant, are necessary in ▇▇▇▇▇▇Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s permitted use under this AgreementPermitted Use , all at Tenant’s expense. Tenant shall will not be authorized liable to apply for Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Government Approvals on behalf of Landlord and Landlord agrees to reasonably cooperate with Property, whether or not such applicationsdefect or condition is disclosed by Tenant’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below), reasonable wear and tear and casualty not becaused by Tenant excepted. (c) In consideration of Landlord granting Tenant the Option, ▇▇▇▇▇▇ agrees to pay Landlord the sum of One Thousand Five Hundred and No/100 Dollars ($1500.00) within thirty (30) business days of the Effective Date. The Option will be for an initial term of two (2) years commencing on the Effective Date (the "Initial Option Term") and may be renewed by Tenant for an additional one (1) year upon written notification to Landlord and the payment of an additional One Thousand Five Hundred and No/100 Dollars ($1500.00) no later than the expiration date of the Initial Option Term. (d) The Option may be sold, assigned or transferred at any time by Tenant to Tenant’s parent company or any affiliate or subsidiary of, or partner in, Tenant or its parent company or member, or to any third party agreeing to be subject to the terms hereof. Otherwise, the Option may not be sold, assigned or transferred without the written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed. From and after the date the Option has been sold, assigned or transferred by Tenant to a third party agreeing to be Option Land Lease subject to the terms hereof, Tenant shall immediately be released from any and all liability under this Agreement, including the payment of any rental or other sums due, without any further action. (e) At any time prior to the expiration of the Option or any extension thereof, Tenant may exercise the Option by giving Landlord written notice (“Exercise Notice”) that Tenant desires to lease the Site. Any Exercise notice given by Tenant shall be in accordance with the terms of this paragraph. Upon the giving of the Exercise Notice (“Exercise Date”), (i) this Agreement shall be deemed for all purposes a legally enforceable lease between Landlord, as lessor, and Tenant, as lessee, (ii) Landlord hereby leases and demises the Premises to Tenant. If Tenant does not exercise the Option during the Initial Option Term or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other. If Tenant has not commenced the installation of Company’s communication facilities on the Site as of the Exercise Date, the annual rent shall be Fifty and 00/100 Dollars ($50.00) from the Exercise Date until the first day of the month following the commencement of installation of Tenant’s communications facilities on the Premises. (f) If during the Initial Option Term or any extension thereof, or during the term of this Agreement if the Option is exercised, Landlord decides to subdivide, sell, or change the status of the zoning of the Premises, Property or any of Landlord’s contiguous, adjoining or surrounding property (the “Surrounding Property,” which includes (without limitation) the remainder of the structure) or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. Any sale of the Property shall be subject to Tenant’s rights under this Agreement. Landlord agrees that during the Initial Option Term or any extension thereof, or during the Term of this Agreement if the Option is exercised, Landlord shall not initiate or consent to any change in the zoning of the Premises, Property or Surrounding Property or impose or consent to any other restriction that would prevent or limit Tenant from using the Premises for the uses intended by Tenant as hereinafter set forth in this Agreement.

Appears in 1 contract

Sources: Option and Lease Agreement

Option to Lease. (a) As of the Effective Date, Landlord Lessor hereby grants to Tenant the exclusive Lessee an option to lease the Premises (the "Option") during Option Area - D on the following terms and conditions. A. Lessee may exercise the Option Period only by giving Landlord written notice (defined below). At any time during the Option Period and Term (defined below), Tenant and "Lessee's Notice") of 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 intention to do those things so on or off the Property thatbefore July 1, in the opinion 1996, but no earlier that July 1, 1995. B. Immediately upon receipt of Lessee's Notice, Lessor shall, at Lessor's sole cost and expense, use reasonable good faith efforts to negotiate and execute a written lease termination agreement with Fox & ▇▇▇▇▇▇▇▇▇ for Option Area - D, are necessary in which agreement shall provide for the termination of such lease and surrender of possession by the tenant thereunder so that Option Area - D would be available no later that twelve (12) months after Lessors receipt of Lessee's Notice (the "Delivery Period"). Notwithstanding the foregoing, unless Lessee agrees otherwise, the lease for Option Area shall not commence sooner than the later of (i) six (6) months following the date that Lessor receives Lessee's Notice or (ii) three (3) months following the date that Fox & ▇▇▇▇▇▇’s sole discretion ▇▇▇ vacates Option Area -D (the "Option Commencement Period"). (i) If Lessor executes said lease termination agreement enabling Lessor to determine deliver possession to Lessee during the physical condition Delivery Period, then Lessor shall lease to Lessee and Lessee shall lease from Lessor Option Area - D by executing an amendment to the Lease which amendment shall provide for the following terms and conditions; (a) The definition of the Property, Premises shall be amended to provide that the environmental history Premises includes Option Area - D. (b) The term of the PropertyLease shall be extened for a term of five (5) years, commencing on the date that Option Area - D is delivered to Lessee in the condition required pursuant to Subparagraph 7 (B) (i) (c) of this Amendment (the "Option Area - D Commencement Date"). (c) Rent for the Premises (including Option Area - D) shall be as follows, as applicable: (1) Commencing on the Option Area - D Commencement Date and continuing thereafter through and including June 30, 1997, monthly rent shall equal One and 10/100 Dollars ($1.10) per square foot of office space and Sixty Cents ($0.60) per square foot of warehouse space. (2) Commencing on July 1, 1997 and continuing thereafter through and including June 30, 1998, monthly rent shall equal One and 15/100 Dollars ($1.15) per square foot of office space and Sixty-Five Cents ($.65) per square foot of warehouse space. (3) Commencing on July 1, 1998 and continuing thereafter through and including June 30, 1999, monthly rent shall equal One and 18/100 ($1.18) per square foot of office space and Sixty Five Cents ($0.65) per square foot of warehouse space. (4) Commencing on July 1, 1999 and continuing thereafter through and including June 20, 2000, monthly rent shall equal One and 23/100 Dollars ($1.23) per square foot of office space and Sixty Eight Cents ($0.68) per square foot of warehouse space. (5) Commencing on July 1, 2000 and continuing thereafter through and including June 30, 2001, monthly rent shall equal One and 28/100 ($1.28) per square foot of office space and Seventy Cents ($0.70) per square foot of warehouse space. (6) Commencing on July 1, 2001 and continuing thereafter through and including June 30, 2002, monthly rent shall equal One and 33/100 ($1.33) per square foot of office space and Seventy Three Cents ($0,73) per square foot of warehouse space. (ii) Notwithstanding the feasibility or suitability foregoing, if Lessor fails to execute such lease termination agreement on June 30, 1997 after Lessor's receipt of Lessee's Notice than Lessee shall have the option to terminate the Lease effective as of June 30, 1997 by notifying Lessor of its intention to do so provided that Lessee pays to Lessor on June 30, 1997, Two Hundred Eleven Thousand Seventy Hundred Sixty Dollars ($211,760) (equivalent to four (4) months' rent) plus an additional amount equal to Lessor's reasonable estimation of additional rent which would be payable by Lessee during said four (4) month period pursuant to Paragraph 8B, 9C and 10 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 beLease.

Appears in 1 contract

Sources: Lease Agreement (Cellnet Data Systems Inc)

Option to Lease. (a) As of the Effective Date, Landlord grants to Tenant an option (the exclusive option "Option") to lease a certain portion of the Premises Property containing approximately 1,225 square feet including the air space above such ground space, as described on attached Exhibit 1 (the “Option”"Premises"), for the placement of Tenant’s Communication Facility. (b) During the Option Term (as hereafter defined), and during the Option Period (defined below). At any time during the Option Period and Term (defined below)term of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property, in the vicinity of the Premises, Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "Tests"), subject to Section 5 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 includingand include, without limitation, applications for zoning variances, zoning ordinances, amendments, special use permits, and 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 ▇▇▇▇▇▇Tenant, are necessary in ▇▇▇▇▇▇Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property Premises for Tenant’s permitted use under this AgreementPermitted Use, all at Tenant’s expense. Tenant shall will not be authorized liable to apply for Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Government Approvals on behalf of Landlord and Landlord Property, whether or not such defect or condition is disclosed by Tenant’s inspection. ▇▇▇▇▇▇ agrees to reasonably cooperate with such applicationsindemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or liability (or any claims in respect of the foregoing), costs or expenses (including reasonable attorneys' fees and court costs) arising directly from the Tests, except to the extent attributable to the grossly negligent or intentional act or omission of Landlord, its employees, agents or independent contractors. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term, reasonable wear and tear and loss by casualty or other causes beyond Tenant’s control excepted. (c) In consideration of Landlord granting Tenant the Option, ▇▇▇▇▇▇ agrees to pay Landlord the sum of Four Thousand and No/100 Dollars ($4,000.00) within thirty (30) business days of the Effective Date. The Option will be for an initial term of one (1) year commencing on the Effective Date (the "Initial Option Term") and may be renewed by Tenant for an additional one (1) year (the “Renewal Option Term”) upon written notification to Landlord and the payment of an additional Four Thousand and No/100 Dollars ($4,000.0) no later than five (5) days prior to the expiration date of the Initial Option Term. The Initial Option Term and any Renewal Option Term are collectively referred to as the “Option Term.” (d) During the Option Term, Tenant may exercise the Option by notifying Landlord in writing. If Tenant exercises the Option then Landlord leases the Premises to Tenant subject to the terms and conditions of this Agreement. If Tenant does not betimely exercise the Option during the Initial Option Term or any extension thereof, this Agreement will terminate and the parties will have no further liability to each other. (e) If during the Option Term, or during the term of this Agreement after the Option is exercised, Landlord decides to subdivide, sell, or change the status of the zoning of the Premises or Property or in the event of foreclosure, Landlord shall immediately notify Tenant in writing. ▇▇▇▇▇▇▇▇ agrees that during the Option Term, or during the Term of this Agreement if the Option is exercised, Landlord shall not initiate or consent to any change in the zoning of the Premises or Property or impose or consent to any other use or restriction that would prevent or limit Tenant from using the Premises for the Permitted Use. Any and all terms and conditions of this Agreement that by their sense and context are intended to be applicable during the Option Term shall be so applicable.

Appears in 1 contract

Sources: Option and Lease Agreement

Option to Lease. ("Landlord"), and WWC License LLC, a (a) As In consideration of the Effective Datepayment of Dollars ($ ) (the "Option Fee") by Tenant to Landlord, Landlord hereby grants to Tenant the exclusive an option to lease the Premises use of a portion of the real property described in attached Exhibit A (the “Property”), on the terms and conditions set forth herein (the “Option”). The Option shall be for an initial term of 12 months, commencing on the date hereof and ending , 200 (the “Option Period”). The Option Period may be extended by Tenant for an additional 12 months upon written notice to Landlord and payment of the sum of Dollars ($ ) during ("Additional Option Fee") at any time prior to the end of the Option Period Period. (defined below). At any time during the Option Period b) ▇▇▇▇▇▇▇▇ agrees to cooperate with 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 allow ▇▇▇▇▇▇, are at no cost to Landlord, to obtain a title report, perform surveys, soil tests, and other engineering procedures or environmental investigations on, under and over the Property, necessary to determine that Tenant's use of the Premises will be compatible with Tenant’s engineering specifications, system design, operations and Governmental Approvals. During the Option Period and any extension, Tenant may exercise the Option by notifying Landlord in writing, at ▇▇▇▇▇▇’s sole discretion ▇▇'s address in accordance with Section 12 herein. (c) If Tenant exercises the Option, then, subject to determine the physical condition following terms and conditions, Landlord hereby leases to Tenant (the “Lease”) the use of the Property, the environmental history of the Property, and the feasibility or suitability that certain portion of the Property sufficient for Tenant’s permitted use under this Agreementplacement of Antenna Facilities (as defined below), together with all necessary space and easements for access and utilities, as generally described and depicted in attached Exhibit B (collectively referred to hereinafter as the “Premises”). The Premises, located at Tenant’s expense(street and address), approximately square feet. Tenant shall be authorized to apply for the Government Approvals on behalf of Landlord (city, county, and Landlord agrees to reasonably cooperate with such applications. Tenant will not bestate), comprise

Appears in 1 contract

Sources: Site Lease With Option Agreement

Option to Lease. (a) As of the Effective Date, Landlord hereby grants to Tenant the an exclusive option (the "Option") to lease a portion of the Premises Property measuring approximately Two Thousand and five Hundred (2500) square feet ("Leased Premises") on which Tenant plans to construct, maintain, operate, and lease space to third parties on, the Communications Facility, as generally depicted on the site plan attached hereto as Exhibit B (the “Site Plan”). Landlord shall provide Tenant with the necessary easements for unrestricted access and utility ingress and egress from the nearest public right-of-way to the Leased Premises, such access and utility easements to be reasonably acceptable to the Landlord. In consideration of Landlord granting Tenant the Option, ▇▇▇▇▇▇ hereby agrees to pay Landlord the sum of One Thousand and 00/100 Dollars ($1,000.00) upon execution of this Agreement. The Option will be for an initial term of twelve (12) months (the "Initial Option Term") and may be renewed by Tenant for an additional six (6) month period (a “Renewal Option Term”) and the payment of an additional Five Hundred and 00/100 Dollars ($500.00), by delivering written notice of such renewal (along with the additional payment) to Landlord no later than ten (10) days prior to the expiration date of the Initial Option Term. As used herein, the “Option Term” shall mean the Initial Option Term and, if applicable, the Renewal Option Term. During the Option Term, Tenant may exercise the Option by notifying Landlord in writing. Tenant shall not commence construction of the Communications Facility unless and until Tenant exercises the Option. During the Option Term, and during the Option Period (defined below). At any time during the Option Period and Lease Term (defined belowas hereinafter defined), Tenant and its agents, engineers, surveyors and other representatives will have the right right: (i) at all reasonable times to enter upon the Property, in the vicinity of the Premises, Property to inspect, examine, conduct soil borings, drainage testing, material sampling, and other geological or engineering tests or other 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 type 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;

Appears in 1 contract

Sources: Master Marketing Agreement

Option to Lease. (a) As of the Effective Date, Landlord hereby grants to Tenant the an exclusive option (the "Option") to lease a portion of the Premises Property measuring approximately ( ) square feet ("Leased Premises") on which Tenant plans to construct, maintain, operate, and lease space to third parties on, the Communications Facility, as generally depicted on the site plan attached hereto as Exhibit B (the “Site Plan”), together with access across the remainder of the Property to the Leased Premises for Tenant’s uses from the nearest public right-of-way along the Property. b) In consideration of Landlord granting Tenant the Option, ▇▇▇▇▇▇ hereby agrees to pay Landlord the sum of Five Hundred and 00/100 Dollars ($500.00) upon execution of this Agreement. The Option will be for an initial term of twelve (12) months (the "Initial Option Term") and may be renewed by Tenant for an additional six (6) month period (a “Renewal Option Term”) and the payment of an additional Five Hundred and 00/100 Dollars ($500.00), by delivering written notice of such renewal (along with the additional payment) to Landlord no later than ten (10) days prior to the expiration date of the Initial Option Term. As used herein, the “Option Term” shall mean the Initial Option Term and, if applicable, the Renewal Option Term. c) During the Option Term, Tenant may exercise the Option by notifying Landlord in writing. Tenant shall not commence construction of the Communications Facility unless and until Tenant exercises the Option. d) During the Option Term, and during the Option Period (defined below). At any time during the Option Period and Lease Term (defined belowas hereinafter defined), Tenant and its agents, engineers, surveyors and other representatives will have the right right: (i) at all reasonable times to enter upon the Property, in the vicinity of the Premises, Property to inspect, examine, conduct soil borings, drainage testing, material sampling, and other geological or engineering tests or other 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 type of the Property; provided, however, that during the Option Term, the environmental history Tenant shall not engage in any construction activity or perform any intrusive physical testing (such as soil borings ) without prior written consent 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 beBoard;

Appears in 1 contract

Sources: Master Marketing Agreement

Option to Lease. (a) As In consideration of the Effective Datepayment of one hundred and no/100 dollars ($100.00) (the “Option Fee”) by Tenant to Landlord, Landlord hereby grants to Tenant the exclusive an option to lease the Premises use of a portion of the real property described in the attached Exhibit A (the “Property”), on the terms and conditions set forth herein (the “Option”). The Option shall be for an initial term of twelve (12) during months, commencing on the Effective Date (as defined below) (the “Option Period”). The Option Period may be extended by Tenant for one (1) additional twelve (12) month period upon written notice to Landlord and payment of the sum of one hundred and no/100 dollars ($100.00) (“Additional Option Fee”) at any time prior to the end of the Option Period Period. (defined below). At any time during b) 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 samplingany extension thereof, and other geological or engineering tests or studies during the term of the Property (collectivelythis Lease, the “Tests”)Landlord agrees to cooperate with Tenant in obtaining, to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion expense, all licenses and permits or authorizations required for its Tenant’s use of the Premises Antenna Site (as defined below) from all applicable government and/or regulatory entities (including, without limitation, applications for zoning variancesand land use authorities, zoning ordinances, amendments, special use permits, construction permits and any other permits and approvals deemed necessary by Tenant the Federal Communication Commission (collectively, the Government FCC”) (“Governmental Approvals”), initiate the ordering and/or scheduling of necessary utilitiesincluding all land use and zoning permit applications, and Landlord agrees to cooperate with and to allow Tenant, at no cost to Landlord, to obtain a title report report, zoning approvals and variances, land-use permits, and Landlord expressly grants to Tenant a right of access to the Property to perform surveys, soils tests, and other engineering procedures or environmental investigations on the Property necessary to determine that Tenant’s use of the Antenna Site will be compatible with Tenant’s engineering specifications, system design, operations and Governmental Approvals. Notwithstanding the foregoing, it is understood that Landlord is the local zoning authority and also has responsibility under the law to administer and enforce applicable building codes, and nothing contained in this Lease obligates Landlord to act in any particular way with respect to any application for a Government Approval submitted to Landlord that is within Landlord’s jurisdiction to administer, approve, conditionally approve or deny. During the PropertyOption Period and any extension thereof, Landlord agrees that it will not interfere with Tenant’s efforts to secure other licenses and otherwise permits or authorizations that relate to do those things on or off other property. During the Option Period and any extension thereof, Tenant may exercise the Option by so notifying Landlord in writing, at Landlord’s address in accordance with Section 12 hereof. (c) If Tenant exercises the Option, then, subject to the following terms and conditions, Landlord hereby leases to Tenant the use of that portion of the Property thatsufficient for placement of the Antenna Facilities (as defined below), together with a non-exclusive easement for access and utilities, as generally described and depicted in the opinion of attached Exhibits B-1 and B-2 (collectively referred to hereinafter as the “Antenna Site”). The Antenna Site is located at ▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇, 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 becomprises approximately 625 square feet.

Appears in 1 contract

Sources: Communications Site Lease