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.
North Carolina Notice of Intention to Exercise Option
State:
Multi-State
Control #:
US-OL24016
Format:
Word;
PDF
Instant download
Description
How to fill out Notice Of Intention To Exercise Option?
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FAQ
For an option holder to ensure that they exercise the option on that particular day, the holder must notify his brokerage firm before that day's cut-off time for accepting exercise instructions. The brokerage firm notifies OCC that an option holder wishes to exercise an option.
If you're a tenant, you're under no obligation to purchase. But if you fall in love with the property and you're in a position to buy, you won't have to compete with other buyers to make it yours. Mail a Notice of Exercise of Option to Purchase to your landlord and start negotiating.
If the owner of an option decides to buy or sell the underlying instrument?instead of allowing the contract to expire worthless or closing out the position?they will be "exercising the option," or making use of the right or privilege that is available in the contract.
To exercise the Option to Purchase, the Buyer/ Tenant must deliver to the Seller/Landlord written notice of Buyer/Tenant's intent to purchase. In addition, the written notice must specify a valid closing date.
(a) When exercising an option, the contracting officer shall provide written notice to the contractor within the time period specified in the contract.
