Contraction Right. 4.3.1 Provided Tenant is not then in default beyond any applicable notice and cure periods under the terms of this Lease, beginning on [***], Tenant shall have a one-time right (the “First Contraction Right”) to release back to Landlord either (a) [***] percent ([***]%) of the Demised Premises, or (b) [***] ([***]) [***] of the Demised Premises, provided, however, that if Tenant elects to release [***] percent ([***]%) of the Demised Premises, the Contraction Space (as hereinafter defined) Subject to a request for confidential treatment, certain portions of this agreement have been intentionally omitted. The omitted portions subject to the confidential treatment request are designated by three asterisks [***]. A complete version of this agreement has been separately filed with the Securities and Exchange Commission. shall be in a configuration that leaves Landlord with space considered by Landlord to be reasonably leasable. Tenant shall deliver to Landlord prior written notice of Tenant’s intent to contract the Demised Premises, and such contraction shall become effective on the date that is [***] ([***])[***] after Tenant’s delivery of such notice.
Contraction Right. (1) Tenant shall have the one-time right to elect to reduce the size of the Premises (“Tenant’s Contraction Right”). Tenant must notify Landlord, in writing, of Tenant’s election to reduce the size of the Premises no later than nine (9) months following the Commencement Date (“Tenant’s Contraction Notice”) subject to Force Majeure delays during the first seven (7) months following the Commencement Date. In Tenant’s Contraction Notice, Tenant shall identify the approximate amount of Rentable Area of the original Premises that Tenant wishes to relinquish, but in no event shall said portion of the Premises constitute greater than fifty percent (50%) of the Rentable Area of the original Premises as of the Commencement Date. The specific size and demising of the portion of space to be relinquished by Tenant shall be acceptable to Landlord in Landlord’s commercially-reasonable discretion in good faith cooperation with Tenant, it being reasonable for Landlord to consider, among other things, the layout of the multi-tenant corridor necessary to connect the two Building exit stairs, and the lease-ability of the portion of space being relinquished as an independent suite to third-party tenants. The portion of the original Premises to be so deleted from the Premises shall be referred to as the “Contraction Space”. Upon final determination of the Contraction Space pursuant to the above, Landlord shall promptly design and construct the necessary demising wall(s) and common area corridor pursuant to designs prepared by Landlord and reasonably approved by Tenant (the “Contraction Construction Work”). Tenant shall reimburse Landlord (as additional Rent under this Lease) for a portion of the cost of the Contraction Construction Work, which portion shall be equal to such cost, multiplied by the ratio of the Rentable Area of the Premises following deletion of the Contraction Space to the Rentable Area of the original Premises (the “Contraction Construction Cost Reimbursement”). To the extent any of the Tenant Improvement Allowance (as reduced pursuant to Section 2.1(c)(2) below) remains as of the date Landlord has determined the Contraction Construction Cost Reimbursement, Tenant may apply any unused portion of the Tenant Improvement Allowance towards the Contraction Construction Cost Reimbursement. Upon the later to occur of: (A) twelve (12) months following the Commencement Date and (B) full completion of Contraction Construction Work, the Contraction Space shall be delete...
Contraction Right. Provided that Tenant has not received notice of a monetary default under this Lease that remains uncured as of the date of Tenant’s delivery of the Contraction Notice, as that term is defined below, and Tenant did not exercise its contraction right set forth in Section 2.4 above, Tenant shall have the right to terminate its lease of the entirety of the two (2) highest full floors in the Premises (the “Contraction Space”) effective as of 11:59 p.m. on the date designated by Tenant in the Contraction Notice ( the “Contraction Date”) which date is on or between the last day of the seventy-eighth (78th) Lease Month and the last day of the ninetieth (90th) Lease Month, provided that (i) Landlord receives written notice (the “Contraction Notice”) from Tenant no later than twelve (12) Lease Months prior to the Contraction Date, and in any event, not later than the last day of the seventy-eighth (78th) Lease Month, stating Tenant’s election to terminate its lease of the Contraction Space, pursuant to the terms and conditions of this Section 2.5 and setting forth the Contraction Date and (ii) on or before the Contraction Date, Landlord receives the Contraction Fee (as that term is defined below), all as consideration for and as a condition precedent to such contraction. Provided that Tenant terminates its lease of the Contraction Space pursuant to the terms of this Section 2.5, Tenant’s lease of the Contraction Space shall automatically terminate and be of no further force or effect on the Contraction Date, but Tenant’s lease of the remainder of the Premises shall remain in full force and effect and Landlord and Tenant shall be relieved of their respective obligations under this Lease as of the Contraction Date with respect to the Contraction Space, except those obligations set forth in this Lease which relate to the term of Tenant’s lease of the Contraction Space and/or that specifically survive the expiration or earlier contraction of this Lease with respect to the Contraction Space, including, without limitation, the payment by Tenant of all amounts owed by Tenant under the Lease with respect to the Contraction Space, up to and including the Contraction Date. For purposes of this Lease, the “Contraction Fee” shall mean the then-unamortized portions, calculated using a five percent (5%) interest factor, on an equal payment basis over the number of Lease Months during which Base Rent is payable during the initial Lease Term (determined on a per rentable square foo...
Contraction Right. The 6th Floor — West Tower is hereby added as a block of space subject to contraction under Exhibit “B” — Eliminated Space Possibilities of the Second Amendment to Lease dated December 13, 2011.
Contraction Right. At the end of the fifth (5th) Lease Year (“Contraction Date”) Tenant shall have the one–time right to terminate this Lease as to a portion of the Leased Premises in order to reduce the size of the Leased Premises (excluding the Supplemental Premises, if any, and the Storage Area) by between 5,000 and 25,000 rentable square feet (the “Contraction Space”) but in no event may Tenant reduce the size of the Leased Premises (excluding the Supplemental Premises, if any, and the Storage Area) below 125,000 rentable square feet. The Contraction Space must be contiguous, all on one (1) floor, in a location that provides close elevator access and in a configuration that presents, in Landlord’s reasonable opinion, a leaseable unit. In order to exercise this option to terminate this Lease as to the Contraction Space Tenant shall:
Contraction Right. Subtenant shall have a one-time right to reduce the area of the Sublet Premises down to, but not less than, 5,920 rentable square feet. Subtenant must exercise its contraction right by giving written notice to Sublandlord at least 90 days before the first anniversary of the Commencement Date. If Sublandlord timely exercises its contraction right: (i) the Sublet Premises shall be reduced to the rentable square footage set forth in its notice, provided that the configuration of the remaining Sublet Premises shall be reasonably satisfactory to Sublandlord; (ii) Subtenant, at its sole cost and expense, shall re-demise the Sublet Premises and perform all other work necessitated by such exercise of the contraction right; and (iii) Rent shall be adjusted to reflect the reduced area of the Sublet Premises based on the per-rentable-square-foot rental rate set forth in Section 3, beginning on the later to occur of: (x) the first anniversary of the Commencement Date; or (y) the date Subtenant completes the re-demising work and vacates the relinquished portion of the Sublet Premises in the condition required under this Sublease. Subtenant may not exercise its right to reduce the area of the Sublet Premises if it is then in default under this Sublease. If the parties are unable to agree on the configuration of the remaining Sublet Premises under clause (i) above, then the dispute shall be referred to a mutually acceptable, independent Georgia-licensed architect. The architect shall determine the final configuration of the remaining Sublet Premises, and this determination shall be binding upon Sublandlord and Subtenant.
Contraction Right. The Sixth Floor Expansion Space shall be specifically excluded from Tenant's contraction right in Section 10.0 of the Prime Lease.
Contraction Right. Article 30
Contraction Right. Subtenant shall have the continuing right ("Contraction Right") to reduce the Rentable Premises Area by any amount up to eighty percent (80%) of the original Rentable Premises Area ("Contraction Space") effective on a date ("Contraction Right Date") not less than thirty (30) days after the date of Subtenant's written notice ("Contraction Right Notice"), upon and subject to the terms set forth in this Section 27. Any Subtenant's Contraction Right Notice shall, once given, be irrevocable. In the event that Subtenant properly exercises its Contraction Right, then:
Contraction Right. The Tenant shall, without having to pay any compensation to the Landlord, have rights to surrender certain parts of the Premises not exceeding 20,000 square feet in area in total (hereinafter referred to as “the Vacated Area”) prior to the termination or expiry of the term granted under the Sub-Lease Agreement PROVIDED ALWAYS:
