NYC 9/11 Public Portal Document
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nPTlON TO LffASE
In cciikidelation fur entering into this License and agiccuig to obey the covenants
herein, including payment of the license fee, Licensee is hereby granted, during the term of this
License, the irrevocable option of entering into a lease for the Licensed Premises on terms
mutually satisfactory to the parties herein. This option shall be exercisable only by execution and
delivery of a Lease of the l icensed Premises between T .icensnr and Licensee during the term of
this License, and upon the mnanation or eApiraiion Exniratioa Qate (or sooner termination^ of
this License, this option, if such a lease of the License Premises between Licensor and Licensee
shall not have theretofore been executed and delivered, shall also terminate simultaneously with
thetennhnte-ormqn^^ upon fee Expiration Date for sooner termination) of this License
Even if Licensee shall desire to lease the Licensed Premises, however, Licensor shall have no
obligation to execute a lease with Licensee unless all the terms, covenants and conditions of the
proposed lease are satislactory to Licensor in Licensor's sole, uncontrolled discretion.
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Licensor warrants and represents that it is the leasehold owner of the Licensed Premises
and is empowered and authorized to license said Licensed Premises
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