This office lease form states that the tenant shall exercise its option to renew this lease upon written notice given to the landlord no less than eighteen (18) months before the end of the lease term.
Arkansas Notice of Intention to Exercise Option
State:
Multi-State
Control #:
US-OL24016
Format:
Word;
PDF
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Description
How to fill out Notice Of Intention To Exercise Option?
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FAQ
If a trader owns an option that still has time left on it, they may consider selling the option or waiting to exercise it. Often it is more profitable to sell the option than to exercise it if it still has time value. If an option is in the money and close to expiring, it may be a good idea to exercise it.
17.207 Exercise of options. (a) When exercising an option, the contracting officer shall provide writ- ten notice to the contractor within the time period specified in the contract.
(b) The contracting officer may exercise options only after determining, in writing, that all the following conditions exist: (1) Funds are available. (2) The requirement covered by the option fulfills an existing Government need.
(g) The contract modification or other written document which notifies the contractor of the exercise of the option shall cite the option clause as authority.
When the Government holds an option, it may employ whatever lawful criteria it chooses when deciding whether to exercise the option. Id. Even satisfactory performance by a contractor does not impair the Government's right to refuse to exercise an option.
The result can be financially painful. Does the contractor have any recourse? Generally speaking, the disappointed contractor is out of luck. The Government has a broad right to decide within its own discretion whether to exercise a contract option.
In options trading, "to exercise" means to put into effect the right to buy or sell the underlying security that is specified in the options contract. To exercise an option, you simply advise your broker that you wish to exercise the option in your contract.
