Common use of Alternative Premises Clause in Contracts

Alternative Premises. If, during the Base Term, (a) the then-existing Premises consists of less than 75,000 rentable square feet, (b) Tenant delivers written notice to Landlord that Tenant requires additional space containing a minimum of 75,000 rentable square feet, and (c) such an expansion of the Premises cannot be accommodated in the Building, then, upon written request from Tenant, and so long as One Alexandria Square is then-owned by an affiliate of Landlord, OAS Landlord shall endeavor to find alternative space suitable for Tenant’s needs at One Alexandria Square (“Alternative Premises”). If OAS Landlord and Tenant identify an Alternative Premises acceptable to Tenant, then OAS Landlord and Tenant shall use good faith efforts to negotiate and enter into a lease agreement pursuant to which Tenant shall lease the Alternative Premises from OAS Landlord. Nothing set forth herein shall obligate Landlord or OAS Landlord to enter into a lease agreement with Tenant for Alternative Premises, and in no event shall Landlord or OAS Landlord have any liability to Tenant in connection with the failure of Alternative Premises to be available or in connection with the failure of the parties to reach a mutually acceptable lease agreement with respect to an Alternative Premises. Should OAS Landlord and Tenant enter into a new lease for an Alternative Premises, Tenant may elect, by written notice to Landlord prior to the mutual execution of such new lease by the parties, to terminate this Lease without penalty as of the date that the Alternative Premises is available for occupancy by Tenant.