Common use of Personal Options Clause in Contracts

Personal Options. The Option is personal to the Tenant named in Section 1.3 of the Lease and cannot be transferred without Landlord’s consent. 2.6.1 If Tenant subleases any portion of the Premises or assigns or otherwise transfers any interest under the Lease prior to the exercise of an Option without Landlord’s consent, the Option shall lapse. 2.6.2 If Tenant subleases any portion of the Premises or assigns or otherwise transfers any interest of Tenant under the Lease after the exercise of an Option but prior to the commencement of the month-to-month tenancy without Landlord’s consent, the Option shall lapse and the Lease Term shall expire as if such Option were not exercised. 2.6.3 If Tenant subleases any portion of the Premises or assigns or otherwise transfers any interest of Tenant under the Lease after the exercise of the Option and after the commencement of the month-to-month tenancy related to such Option without Landlord’s consent, then the term of the Lease shall expire upon the expiration of the month during which such sublease or transfer occurred and the remainder of the Option shall lapse.