Options Clause Example with 15 Variations from Business Contracts

Options. If Lessee Sublessee is granted any option, as defined below, then the following provisions shall apply. 39.1 38.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term Term of or renew this Lease Sublease or to extend or reduce the term Term of or renew any lease or sublease that Lessee Sublessee has on other property of Lessor; Sublessor; (b) the right of first refusal or first offer to lease or sublease either the Sublease Premises or other property of Lessor; Sublessor; ...(c) the right to purchase, the right of first offer to purchase or the right of first refusal to purchase the Sublease Premises or other property of Lessor. 39.2 Sublessor. 1 38.2 Options Personal To Original Lessee. Sublessee and Sublessee Affiliates. Any Option granted to Lessee Sublessee in this Lease Sublease is personal to the original Lessee, Sublessee and Sublessee Affiliates, and cannot be assigned or exercised by anyone other than said original Lessee Sublessee and Sublessee Affiliates, and only while the original Lessee is Sublessee or Sublessee Affiliate(s) is/are in full possession of no less than fifty percent (50%) of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting. 39.3 Sublease Premises. 38.3 Multiple Options. In the event that Lessee Sublessee has any multiple Options to extend or renew this Lease, Sublease, a later Option cannot be exercised unless the prior Options have been validly exercised. 39.4 38.4 Effect of Default on Options. (a) Lessee Sublessee shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of an Event of Default and continuing until said Event of Default is cured, (ii) during the period time there has occurred and is continuing an Event of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), Default by Sublessee or (iii) during the time Lessee is in Breach of this Lease, or (iv) in the event that Lessee Sublessee has been given 3 or more notices of separate Events of Default, whether or not the Defaults Events of Default are cured, during the 12 month period immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's Sublessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). 38.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's Sublessee's due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to pay Rent for a period there has occurred an Event of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee commits a Breach Default of this Lease. Sublease which is not cured prior to the commencement of such extended term or completion of the purchase. View More

Options. If Lessee Sublessee is granted any option, as defined below, then the following provisions shall apply. 39.1 38.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term Term of or renew this Lease or to extend or reduce the term Term of or renew any lease that Lessee Sublessee has on other property of Lessor; Sublessor; (b) the right of first refusal or first offer to lease or sublease either the Premises or other property of Lessor; Sublessor; (c) the right to purchase, the... right of first offer to purchase or the right of first refusal to purchase the Premises or other property of Lessor. 39.2 Sublessor. 38.2 Options Personal To Original Lessee. Sublessee and Sublessee Affiliates. Any Option granted to Lessee Sublessee in this Lease Sublease is personal to the original Lessee, Sublessee and Sublessee Affiliates, and cannot be assigned or exercised by anyone other than said original Lessee Sublessee and Sublessee Affiliates, and only while the original Lessee is Sublessee or Sublessee Affiliate(s) is/are in full possession of no less than fifty percent (50%) of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting. 39.3 Premises. 38.3 Multiple Options. In the event that Lessee Sublessee has any multiple Options to extend or renew this Lease, Sublease, a later Option cannot be exercised unless the prior Options have been validly exercised. 39.4 38.4 Effect of Default on Options. (a) Lessee Sublessee shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), (iii) during the time Lessee Sublessee is in Breach of this Lease, Sublease, or (iv) (iii) in the event that Lessee Sublessee has been given 3 or more notices of separate Default, whether or not the Defaults are cured, during the 12 month period immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's Sublessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). 38.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's Sublessee's due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to pay Rent for a period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee Sublessee commits a Breach of this Lease. Sublease. View More

Options. If Lessee is granted any option, optton, as defined below, then the following provisions shall apply. 39.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce the term of or renew any lease that Lessee has on other property of Lessor; (b) the right of first refusal or first offer ofter to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer ofter to purchase or the right of... first refusal to purchase the Premises or other property of Lessor. 39.2 Options Personal To Original Lessee. Any Option Optton granted to Lessee in this Lease is personal to the original Lessee, and cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and, if requested by Lessor, with Lessee certifying certtfying that Lessee has no intention intentton of thereafter thereaffer assigning or subletting. 39.3 Multiple Options. In the event that Lessee has any multiple Options multtple Opttons to extend or renew this Lease, a later Option Optton cannot be exercised unless the prior Options Opttons have been validly exercised. 39.4 Effect of Default on Options. (a) Lessee shall have no right to exercise an Option: Optton: (i) during the period commencing with the giving of any notice nottce of Default and continuing until conttnuing unttl said Default is cured, (ii) during the period of time ttme any Rent is unpaid (without regard to whether notice nottce thereof is given Lessee), (iii) during the time ttme Lessee is in Breach of this Lease, or (iv) in the event that Lessee has been given 3 or more notices nottces of separate Default, whether or not the Defaults are cured, during the 12 month period immediately preceding the exercise of the Option. Optton. (b) The period of time me within which an Option Optton may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option Optton because of the provisions of Paragraph 39.4(a). (c) An Option Optton shall terminate and be of no further force or effect, eftect, notwithstanding Lessee's due and timely ttmely exercise of the Option, Optton, if, after affer such exercise and prior to the commencement of the extended term or completion completton of the purchase, (i) Lessee fails to pay Rent for a period of 30 days after affer such Rent becomes due (without any necessity of Lessor to give notice nottce thereof), or (ii) if Lessee commits a Breach of this Lease. View More

Options. If Lessee is granted any option, an Option, as defined below, then the following provisions shall apply. 39.1 Definition. "Option" shall mean: mean (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce the term of or renew any lease that Lessee has on other either property of Lessor; (b) the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer to purchase or the right... of first refusal to purchase the Premises or other property of Lessor. 39.2 Options Personal To __________ to Original Lessee. Any Option granted to Lessee in this Lease is personal to the original Lessee, and cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting. 39.3 Multiple Options. In the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. 39.4 Effect of Default on Options. (a) Lessee shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), (iii) during the time Lessee is in Breach of this Lease, or (iv) in the event that Lessee has been given 3 or more notices of separate Default, whether or not the Defaults are cured, during the 12 month 12-month period immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). 29.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to pay Rent for a period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee commits a Breach of this Lease. INITIALS INITIALS ©2001 – AIR COMMERCIAL REAL ESTATE ASSOCIATION FORM STN-11-8/08E__ 40. Multiple Buildings. If the Premises are a part of a group of buildings controlled by Lessor, Lessee agrees that it will abide by and conform to all reasonable rule and regulations which Lessor may make from time to time for the management, safety, and care of said properties, including the care and cleanliness of the grounds and including the parking, locking and unlocking of vehicles, and to cause its employees, suppliers, shippers, customers, contractors and invitees to so abide and conform. Lessee also agrees to pay its fair share of common expenses incurred in connection with such rules and regulations. View More

Options. If Lessee is granted any option, Option, as defined below, then the following provisions shall apply. 39.1 38.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce the term of or renew any lease that Lessee has on other property of Lessor; (b) the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer to purchase or the right of first ...refusal to purchase the Premises or other property of Lessor. 39.2 38.2 Options Personal To Original Lessee. Any Option granted to Lessee in this Lease is personal to the original Lessee, Lessee and a Lessee Affiliate (as defined in the Addendum), and cannot be assigned or exercised by anyone other than said original Lessee or a Lessee Affiliate and only while the original Lessee or a Lessee Affiliate is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting. 39.3 38.3 Multiple Options. In the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. 39.4 38.4 Effect of Default on Options. (a) Lessee shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), (iii) during the time Lessee is in Breach of this Lease, or (iv) in the event that Lessee has been given 3 or more notices of separate Default, whether or not the Defaults are cured, during the 12 month period immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to pay Rent for a period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee commits a Breach of this Lease. Last Edited: 2/22/2018 3:08 PM ©2017 AIR CRE. All Rights Reserved.STN-27.10 Revised 11-01-2017 39. Multiple Buildings. If the Premises are a part of a group of buildings controlled by Lessor, Lessee agrees that it will abide by and conform to all reasonable rules and regulations which Lessor may make from time to time for the management, safety, and care of said properties, including the care and cleanliness of the grounds and including the parking, loading and unloading of vehicles, and to cause its employees, suppliers, shippers, customers, contractors and invitees to so abide and conform. Lessee also agrees to pay its fair share of common expenses incurred in connection with such rules and regulations. View More

Options. If Lessee is granted any option, Option, as defined below, then the following provisions shall apply. apply: 39.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce the term of or renew any lease that Lessee has on other property of Lessor; (b) the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer to purchase or the right of firs...t refusal to purchase the Premises or other property of Lessor. 39.2 Options Personal To Original Named Lessee. Any Option granted to Lessee in this Lease is personal to the original Lessee, Named Lessee (as defined in Paragraph 54 of the Addendum) or any Permitted Transferee (as defined in Paragraph 62 of the Addendum), and cannot be assigned or exercised by anyone other than said original Named Lessee or Permitted Transferee and only while the original Named Lessee and/or any Permitted Transferee is in full possession of the Premises (except as set forth herein in the Addendum) and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting. 39.3 Multiple Options. In the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. 39.4 Effect of Default on Options. (a) Lessee shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), or (iii) during the time Lessee is in Breach of this Lease, Lease., or (iv) in the event that Lessee has been given 3 or more notices of separate Default, whether or not net the Defaults are cured, during the 12 month period immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to pay Rent for a period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee commits a Breach of this Lease. View More

Options. If Lessee is granted any option, Option, as defined below, then the following provisions shall apply. apply: 39.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce the term of or renew any lease that Lessee has on other property of Lessor; (b) the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer to purchase or the right of firs...t refusal to purchase the Premises or other property of Lessor. 39.2 Options Personal To Original Lessee. Any Option granted to Lessee in this Lease is personal to the original Lessee, and cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting. 39.3 Multiple Options. In the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. 39.4 Effect of Default on Options. (a) Lessee shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), (iii) during the time Lessee is in Breach of this Lease, or (iv) in the event that Lessee has been given 3 or more notices of separate Default, whether or not the Defaults are cured, during the 12 month period immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to pay Rent for a period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee commits a Breach of this Lease. PAGE 15 OF 17 ©2001 - AIR COMMERCIAL REAL ESTATE ASSOCIATION FORM STN-26-12/16E 40. Multiple Buildings. If the Premises are a part of a group of buildings controlled by Lessor, Lessee agrees that it will abide by and conform to all reasonable rules and regulations which Lessor may make from time to time for the management, safety, and care of said properties, including the care and cleanliness of the grounds and including the parking, loading and unloading of vehicles, and to cause its employees, suppliers, shippers, customers, contractors and invitees to so abide and conform. Lessee also agrees to pay its fair share of common expenses incurred in connection with such rules and regulations. View More

Options. If Lessee is granted any option, as defined below, then the following provisions shall apply. 39.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce the term of or renew any lease that Lessee has on other property of Lessor; (b) the Lessor (b)the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer to purchase or the right of first... refusal to purchase the Premises or other property of Lessor. 39.2 Options Personal To Original Lessee. Any Each Option granted to Lessee in this Lease is personal to the original Lessee, and cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is Is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting. 39.3 Multiple Options. In the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised exorcised unless the prior Options have been validly exercised. 39.4 Effect of Default on Options. Initials Initials 4 © 1997 - American industrial Real Estate Association FORM STN-6-2/97E (a) Lessee shall have no right to exercise an Option: (i) during (!) daring the period commencing commenting with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is Is unpaid (without regard to whether notice thereof is given Lessee), Lessee). (iii) during the time Lessee is in Breach of this Lease, or (iv) in the event that Lessee has been given 3 three (3) or more notices of separate Default, whether or not the Defaults are cured, during the 12 twelve (12) month period immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's due and timely exercise of the Option, Option. if, after such exercise and prior to the commencement of the extended term or completion of the purchase, term. (i) Lessee fails falls to pay Rent for a period of 30 thirty (30) days after such Rent becomes due (without any necessity of Lessor to give notice thereof), (ii) Lessor gives to Losses three (3) or (ii) more notices of separate Default during any twelve (12) month period, whether or not the Defaults are cured, or (iii) if Lessee commits a Breach of this Lease. View More

Options. If Lessee is granted any option, as defined below, then the following provisions shall apply. 39.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce the term of or renew any lease that Lessee has on other property of Lessor; (b) the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer to purchase or the right of first refusal to pu...rchase the Premises or other property of Lessor. 39.2 Options Personal To Original Lessee. Any Option granted to Lessee in this Lease is personal to the original Lessee, and cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting. 39.3 Multiple Options. In the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. 39.4 Effect of Default on Options. (a) Lessee shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), (iii) during the time Lessee is in Breach of this Lease, or (iv) in the event that Lessee has been given 3 or more notices of separate Default, whether or not the Defaults are cured, during the 12 month period immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to pay Rent for a period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee commits a Breach of this Lease. INITIALS© 2019 AIR CRE. All Rights Reserved. MTN-26.22, Revised 06-10-2019 INITIALS a Work Letter; Last Edited: 1/22/2020 1:04 PM 40. Security Measures. Lessee hereby acknowledges that the Rent payable to Lessor hereunder does not include the cost of guard service or other security measures, and that Lessor shall have no obligation whatsoever to provide same. Lessee assumes all responsibility for the protection of the Premises, Lessee, its agents and invitees and their property from the acts of third parties. View More

Options. If Lessee is granted any option, Option, as defined below, then the following provisions shall apply. 39.1 Definition. "Option" shall mean: (a) the right to extend or reduce the term of or renew this Lease or to extend or reduce the term of or renew any lease that Lessee has on other property of Lessor; (b) the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of first offer to purchase or the right of first refus...al to purchase the Premises or other property of Lessor. 39.2 Options Personal To Original Lessee. Any Option granted to Lessee in this Lease is personal to the original Lessee, and cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention Intention of thereafter assigning or subletting. 39.3 Multiple Options. In in the event that Lessee has any multiple Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. 39.4 Effect of Default on Options. (a) Lessee shall have no right to exercise an Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), (iii) during the time Lessee is in Breach of this Lease, or (iv) in In the event that Lessee has been given 3 or more notices of separate Default, whether or not the Defaults are cured, during the 12 month period immediately Immediately preceding the exercise of the Option. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of Paragraph 39.4(a). (c) An Option shall terminate and be of no further force or effect, notwithstanding Lessee's due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails falls to pay Rent for a period of 30 days after such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee commits a Breach of this Lease. Lease.40. Multiple Buildings. If the Premises are a part of a group of buildings controlled by Lessor Lessee agrees that it will abide by and conform to all reasonable rules and regulations which Lessor may make from time to time for the management, safety, and care of said properties, including the care and cleanliness of the grounds and including the parking, loading and unloading of vehicles, and to cause its employees, suppliers, shippers, customers, contractors and invitees to so abide and conform. Lessee also agrees to pay its fair share of common expenses incurred in connection with such rules and regulations. View More