Common use of Personal Option Clause in Contracts

Personal Option. The options to expand set forth in this Article are personal to Tenant and may not be assigned, transferred or conveyed to any party, except to a sublessee of the entire Premises or an assignee of Tenant’s entire interest under this Lease (which does not under any circumstances include a party who has become an assignee as the result of Tenant’s bankruptcy). Such options shall not survive any termination of this Lease.

Appears in 1 contract

Sources: Loan Agreement (Thomas Properties Group Inc)

Personal Option. The options to expand set forth in this Article paragraph are personal to Tenant and may not be assigned, transferred or conveyed to any party, except to a sublessee of the entire Premises or an assignee of Tenant’s entire interest under this Lease (which does not under any circumstances include a party who has become an assignee as the result of Tenant’s bankruptcy). Such options shall not survive any termination 30. Rights of this LeaseFirst Offer/First Refusal.

Appears in 1 contract

Sources: Office Lease (Lincoln National Corp)