Common use of Determination of Option Rent Clause in Contracts

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 3 contracts

Samples: Relypsa Inc, Relypsa Inc, Alector, Inc.

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Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of but rejects the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of set forth in the Option Rent Rent Notice pursuant to Section 2.2.3, in good faith objects to Landlord’s determination of the Option Rent above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection upon the Option Rent applicable to the Option Rent Term on or before the date that is one hundred eighty (180) days prior to the expiration of the initial Lease Term (the “Outside Agreement Date”), then Tenant the Option Rent shall have the right to withdraw its exercise of the option be determined by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease arbitration pursuant to the terms of this Section 2.2 shall be of no further force or effect 2.2.4. If Tenant does not withdraw its exercise of the extension option, each Each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.4, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 3 contracts

Samples: Office Lease (Square, Inc.), Office Lease (Square, Inc.), Office Lease (Square, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option objects to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of set forth in the Option Rent, in good faith objects to Landlord’s determination of the Option Rent Rent Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent Rent, (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, Rent within ten fifteen ( 10 15) days after following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 3.2.4.1 through 2.2.3.7, 3.2.4.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 3 contracts

Samples: Office Building Lease (Cirius Therapeutics, Inc.), Office Building Lease (Cirius Therapeutics, Inc.), Office Building Lease (Cirius Therapeutics, Inc.)

Determination of Option Rent. In the event Tenant does not ---------------------------- timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of accept the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives timely and appropriately objects to Landlord ’s 's determination of the Option Rent, in good faith objects to Landlord’s determination of as the Option Rent case may be, then Landlord and Tenant shall use good faith efforts to attempt to agree upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant ’s 's objection to the Option Rent (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be within five (5) days, within ten (10) days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7, 2.2.4.7 below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent. --------------------------------

Appears in 2 contracts

Samples: Notice of Lease (Entravision Communications Corp), Notice of Lease (Entravision Communications Corp)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith but objects to Landlord’s determination of the Option Rent Rent concurrently with its exercise of the option to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to delivery of the Option Rent Notice (the Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, Rent within ten five ( 10 5) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent. following:

Appears in 2 contracts

Samples: Office Lease (Advanced Medical Optics Inc), Office Lease (Intralase Corp)

Determination of Option Rent. In the event Tenant timely and ---------------------------- appropriately exercises an option objects in Tenant's Exercise Notice to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant initially determined by Landlord, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent Rent, using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Landlord's receipt of Tenant ’s objection 's Exercise Notice objecting to the Option Rent (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make submit to the other party a separate written determination of the Option Rent, as the case may be, Rent within ten (10) business days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7, 2.2.4.8 below. If Failure of Tenant fails or Landlord to object to Landlord’s submit a written determination of the Option Rent within the time such ten (10) business day period set forth herein, then Tenant shall conclusively be deemed to have objected to Landlord’s determination be the non-determining party's approval of the Option Rent Rent submitted within such ten (10) business day period by the other party.

Appears in 2 contracts

Samples: Office Lease (Equinix Inc), Office Lease (Equinix Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option Option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of Extend but rejects (or is deemed to reject) the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of set forth in the Option Rent Rent Notice pursuant to Section 2.2.3, in good faith objects to Landlord’s determination of the above (or if Tenant did not deliver an Option Rent Interest Notice, and therefore Landlord did not deliver an Option Rent Notice), then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection upon the Option Rent applicable to the Option Rent Term on or before the date that is one hundred eighty (180) days prior to the expiration of the initial Lease Term or the first Option Term, as applicable (the “Outside Agreement Date”), then Tenant the Option Rent shall have the right to withdraw its exercise of the option be determined by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease arbitration pursuant to the terms of this Section 2.2 shall be of no further force or effect 2.2.4. If Tenant does not withdraw its exercise of the extension option, each Each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.4, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 2 contracts

Samples: Dropbox, Inc., Dropbox, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten fifteen ( 10 15) business days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten fifteen ( 10 15) days after the Outside Agreement Date business days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 2 contracts

Samples: Jounce Therapeutics, Inc., Jounce Therapeutics, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) business days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date business days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 2 contracts

Samples: Atreca, Inc., Cardiodx Inc

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 2 contracts

Samples: Avinger Inc, Avinger Inc

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to on or before the commencement of the Option Rent Term (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 2 contracts

Samples: Decipher Biosciences, Inc., Decipher Biosciences, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts in each of Landlord’s and Tenant’s reasonable discretion. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 2 contracts

Samples: Decipher Biosciences, Inc., Decipher Biosciences, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty on or before the date which occurs sixty ( 30 60) days thereafter prior to the Lease Expiration Date. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 2 contracts

Samples: Office Lease (CAI International, Inc.), Office Lease (CAI International, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days HCP, INC [Britannia Pointe Grand] [ORIC Pharmaceuticals, Inc.] following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 2 contracts

Samples: Oric Pharmaceuticals, Inc., Oric Pharmaceuticals, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of but rejects the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of set forth in the Option Rent Rent Notice pursuant to Section 2.2.3, in good faith objects to Landlord’s determination of the Option Rent above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection upon the Option Rent applicable to the Option Rent Term on or before the date that is ninety (90) days prior to the expiration of the initial Lease Term (the “Outside Agreement Date ), then Tenant the Option Rent shall have the right to withdraw its exercise of the option be determined by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease arbitration as required pursuant to the terms of this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option 2.2.4, and each party shall thereafter make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.4, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 2 contracts

Samples: Office Lease (Yelp Inc), Office Lease (Yelp Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an the option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within on or before the thirty (30) days thereafter after the exercise of the option. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date ), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 2 contracts

Samples: Jounce Therapeutics, Inc., Jounce Therapeutics, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option objects in writing to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant initially determined by Landlord, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent Rent, using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant ’s 's objection to the Option Rent (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make submit to the other party a separate written determination of the Option Rent, as the case may be, Rent within ten (10) business days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below the provisions herein. If Failure of Tenant fails or Landlord to object to Landlord’s submit a written determination of the Option Rent within the time such ten (10) business day period set forth herein, then Tenant shall conclusively be deemed to have objected to Landlord’s determination be the non-determining party's approval of the Option Rent Rent submitted within such ten (10) business day period by the other party.

Appears in 2 contracts

Samples: Office Lease (Raptor Pharmaceutical Corp), Office Lease (Spatialight Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option objects to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, Rent within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.7 below, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to provided that Landlord’s determination of Option Rent Rent submitted to arbitration shall not be higher than the Option Rent contained in the Option Rent Notice (when calculated with any concessions to be given on a net effective rental rate basis).

Appears in 2 contracts

Samples: Office Lease (Spinal Elements Holdings, Inc.), Office Lease (Spinal Elements Holdings, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option objects to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent Rent, using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after the applicable Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7, 2.2.4.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 2 contracts

Samples: Sublease (Jaguar Animal Health, Inc.), Sublease (Jaguar Animal Health, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option objects to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best reasonable good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten thirty ( 10 30) days after the Outside Agreement Date business days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.7, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 2 contracts

Samples: Office Lease (Apptio Inc), Office Lease (Apptio Inc)

Determination of Option Rent. In the event If Tenant timely and appropriately exercises an option to extend delivers the Lease Term ---------------------------- Exercise Notice, Landlord shall notify deliver notice (the "OPTION RENT NOTICE") to Tenant on or before the later of (i) the date which is thirty (30) days after Landlord's receipt of the Exercise Notice, or (ii) the date which is twenty-three (23) months prior to the expiration of the initial Lease Term or first Renewal Option Term, as applicable, which Option Rent Notice shall set forth Landlord's initial determination of the "Option Rent," as that term is defined in SECTION 2.3.2 above, and which shall be applicable to this Lease -------------- during the Renewal Option Term. Tenant shall have thirty (30) days ("TENANT'S DETERMINATION PERIOD") after receipt of Landlord ’s 's Option Rent Notice within which to accept Landlord's initial determination of the Option Rent or to object thereto in writing to Landlord. If Tenant fails to so object to Landlord's initial determination of the Option Rent within thirty (30) days thereafter. If Tenant 's Determination Period, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, Rent shall be as set forth in good faith objects to Landlord’s determination of the Option Rent Rent Notice. If, then however, Tenant timely objects in writing to the Option Rent initially determined by Landlord, Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten sixty ( 10 60) days following Tenant ’s 's objection to the Option Rent (the “Outside Agreement Date” "OUTSIDE AGREEMENT DATE"), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make submit to the other party a separate written determination of the Option Rent, as the case may be, Rent within ten (10) business days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 SECTIONS 2.3.4.1 through 2.2.3.7, 2.3.4.7 below. If Failure ---------------- ------- of Tenant fails or Landlord to object to Landlord’s submit a written determination of the Option Rent within the time such ten (10) business day period set forth herein, then Tenant shall conclusively be deemed to have objected to Landlord’s determination be the non-determining party's approval of the Option Rent Rent submitted within such ten (10) business day period by the other party.

Appears in 1 contract

Samples: 21st Century Insurance Group

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its ---------------------------- option to extend the Lease Term, Landlord shall notify Tenant of but objects to Landlord ’s 's determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination concurrently with its exercise of the Option Rent option to extend, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant ’s objection to 's delivery of the Option Rent Notice (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, Rent within ten five ( 10 5) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, 2.2.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (Venture Catalyst Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its ---------------------------- option to extend the Lease Term, Landlord shall notify Tenant of but objects to Landlord ’s 's determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination concurrently with its exercise of the Option Rent option to extend, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant ’s objection 's delivery of the Option Notice (the "Outside Agreement Date"), or if Landlord fails to deliver the Option Rent ( Notice within the “Outside Agreement Date”) time periods set forth above and Tenant so elects, then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after the Outside Agreement Date Date (or the receipt of notice from Tenant of its election to submit to arbitration), and such determinations Landlord shall use the rental rate set forth in the Option Rent Notice. Tenant shall provide Landlord with a copy of its determination and each party's determination shall be submitted to arbitration in accordance with Sections 2.2.3.1 9(c)(l) through 2.2.3.7, 9(c)(7) below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Plumtree Software Inc

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of but objects to Landlord ’s 's determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination concurrently with its exercise of the Option Rent option to extend, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant’s objection to Landlord's receipt of the Option Rent Notice (the "Outside Agreement Date "), , then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.3.3.1 through 2.2.3.7, 2.3.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (INX Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of but objects to Landlord ’s 's determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination concurrently with its exercise of the Option Rent option to extend, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant ’s objection to 's delivery of the Option Rent Notice (the "Outside Agreement Date ”), ") then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, 2.2.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Attornment Agreement (Microage Inc /De/)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of but objects to Landlord ’s 's determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination concurrently with its exercise of the Option Rent option to extend, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant ’s objection to 's delivery of the Option Rent Notice (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, Rent within ten five ( 10 5) business days after the Outside Agreement Date, Date and will concurrently exchange such determinations. Such determinations shall then be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, 2.2.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (Kratos Defense & Security Solutions, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith but objects to Landlord’s determination of the Option Rent Rent concurrently with its exercise of the option to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to delivery of the Option Rent Notice (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, Rent within ten five ( 10 5) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, 2.2.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (Accelrys, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith but objects to Landlord’s determination of the Option Rent Rent concurrently with its exercise of the option to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant Landlord’s objection to receipt of the Option Rent Notice (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten fifteen ( 10 15) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.3.3.1 through 2.2.3.7, 2.3.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (HMS Holdings Corp)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith but objects to Landlord’s determination of the Option Rent Rent concurrently with its exercise of the option to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant Landlord’s objection to receipt of the Option Rent Notice (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.3.3.1 through 2.2.3.7, 2.3.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (Planar Systems Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith but objects to Landlord’s determination of the Option Rent Rent concurrently with its exercise of the option to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant’s objection to delivery of the Option Rent Notice (the “Outside Agreement Date” ), ) then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, 2.2.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Summary of Basic Lease (Genomatica Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith but objects to Landlord’s determination of the Option Rent Rent concurrently with its exercise of the option to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant’s objection to delivery of the Option Rent Notice (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.3(a) through 2.2.3.7, 2.2.3(g) below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Amendment to Lease (Plumtree Software Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith but objects to Landlord’s determination of the Option Rent Rent concurrently with its exercise of the option to extend, then Landlord and Tenant shall attempt to agree in good faith upon the Option Rent using their best good-faith efforts Rent. If Landlord and Tenant fail to reach agreement within ten twenty ( 10 20) days following Tenant’s objection to delivery of the Option Rent Notice (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) business days after the Outside Agreement Date, concurrently exchange such determinations and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, 2.2.3.7 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (Women First Healthcare Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term Term pursuant to Section 2.2.1, above, then Landlord shall notify deliver written notice (the "Landlord Response Notice") to Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is thirty (30) days after Landlord's receipt of the Exercise Notice of Landlord's determination of the Option Rent. Within ten (10) days following the date upon which Tenant receives Landlord’s determination its receipt of the Landlord Response Notice, Tenant shall notify Landlord in writing whether it accepts or objects to the Option Rent, Rent set forth in Landlord's Response Notice. In the event that Tenant in good faith objects to Landlord ’s 's determination of the Option Rent, then Landlord and Tenant shall meet and attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten on or before the date that is ninety ( 10 90) days following Tenant’s objection prior to the expiration of the initial Lease Term (the "Outside Agreement Date"), then the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option be determined by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease binding arbitration pursuant to the terms of this Section 2.2 shall be of no further force or effect 2.2.3. If Tenant does not withdraw its exercise of the extension option, each Each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections Section 2.2.3.1 through 2.2.3.7 Section 2.2.3.4, below. If Tenant fails to object to Landlord’s The determination of the Option Rent within the time period set forth herein, then Tenant arbitrators shall be deemed to have objected to Landlord’s determination of Option Rent made by taking into consideration all Comparable Transactions as calculated under the Constant Rate Equivalent Approach.

Appears in 1 contract

Samples: Office Lease (SoFi Technologies, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord ’s 's determination of the Option Rent within (the "Option Rent Notice") on or before the date that is thirty (30) days thereafter after Tenant's delivery of the Option Exercise Notice. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination Tenant's receipt of the Option Rent Rent Notice, in good faith objects to Landlord ’s 's determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant ’s 's objection to the Option Rent Rent, (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent Rent (which, as in Landlord's case, need not be the case may be rent originally set forth in the Option Rent Notice), within ten five ( 10 5) days after the Outside Agreement Date business days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Net Lease (Rovi Corp)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord ’s 's determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord ’s 's determination of the Option Rent, in good faith objects to Landlord ’s 's determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant ’s 's objection to the Option Rent (the "Outside Agreement Date "), then or if Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof timely delivers an Irrevocable Exercise Notice to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this the terms of Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option 1.3.2, above, then each party shall make a separate determination of the Option Rent (or First Offer Rent, as the case may be ), within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord ’s 's determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord ’s 's determination of Option Rent.

Appears in 1 contract

Samples: Sorrento Therapeutics, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Fair Rental Value for the Premises for the Option Rent within thirty Term no later than eleven ( 30 11) days thereafter months prior to the Lease Expiration Date. If Tenant, on or before the date which is ten (10) business days following the date upon which Tenant receives Landlord’s determination of the Option Rent Fair Rental Value, in good faith objects to Landlord’s determination of the Option Rent Fair Rental Value, then Landlord and Tenant shall attempt to agree upon the Option Rent Fair Rental Value using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent Fair Rental Value (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent Fair Rental Value, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent Fair Rental Value within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent Fair Rental Value.

Appears in 1 contract

Samples: Homology Medicines, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) 30 days thereafter prior to the Lease Expiration Date. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Novan, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty at least sixty ( 30 60) days thereafter before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) business days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date business days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected accepted to Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Heat Biologics, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty at least sixty ( 30 60) days thereafter before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) business days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date business days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Precision Biosciences Inc

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty at least three ( 30 3) days thereafter months prior to the Lease Expiration Date (or expiration of the first (1st) Option Term, as applicable). If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “ Option Rent Outside Agreement Date”), then Tenant the Option Rent shall have the right to withdraw its exercise of the option be determined by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease arbitration pursuant to the terms of this Section 2.2 shall be of no further force or effect 2.2.3. If Tenant does not withdraw its exercise of The First Offer Outside Agreement Date and the extension option Option Rent Outside Agreement Date are each referred to herein, each as applicable, as (an “Outside Agreement Date”). Each party shall make a separate determination of the Option Rent (or First Offer Rent, as the case may be applicable), within ten five ( 10 5) days after days, following the Outside Agreement Date, Date and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Office Lease (1Life Healthcare Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty no later than five ( 30 5) days thereafter months prior to the Lease Expiration Date. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Aethlon Medical Inc

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) days Business Days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days Business Days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date Business Days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Revolution Medicines, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent acting in good faith and using their best good-faith reasonable efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Braeburn Pharmaceuticals, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date ), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Advanced BioHealing Inc

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, 2.2.3.7 below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Kalobios Pharmaceuticals Inc

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 4.3(a) through 2.2.3.7 (g), below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Amendment to Office Lease (Textainer Group Holdings LTD)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty on or before the Lease Term ( 30) days thereafter or Option Term, as applicable). If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 3.2.3.1 through 2.2.3.7 3.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Amendment to Lease (Advanced BioHealing Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty on or before the date that is six ( 30 6) days thereafter months prior to the Lease Expiration Date. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 50.3.1 through 2.2.3.7 50.3.8, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Amendment to Office Lease (Hansen Medical Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent on within thirty (30) days thereafter after Tenant’s exercise of the option. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent. Rent.6

Appears in 1 contract

Samples: Kalobios Pharmaceuticals Inc

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter following Landlord’s receipt of Tenant’s exercise notice. If Tenant, on or before the date which is ten (10) business days following Landlord’s receipt of Tenant’s exercise notice, fails to accept or object to Landlord’s determination of the Option Rent, Tenant’s right to extend this Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant, on or before the date that is ten (10) business days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) business days thereafter, in which event Tenant’s right to extend the this Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party Party shall make a separate determination of the Option Rent, as the case may be, within ten (10) business days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7 , below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Allogene Therapeutics, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) business days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Nkarta, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent . . Table of Contents

Appears in 1 contract

Samples: Arcus Biosciences, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord ’s 's determination of the Option Rent within thirty on or before the date which occurs six ( 30 6) days thereafter months prior to the expiration of the Extended Term. If Tenant, on or before the date which is ten isthirty ( 10 30) days following the date upon which Tenant receives Landlord ’s 's determination of the Option Rent, in good faith objects to Landlord ’s 's determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant ’s objection to 's objection.to the Option Rent (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 10.4.1 through 2.2.3.7 10.4.7, below. If Tenant fails to object to Landlord ’s 's determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord ’s 's determination of Option Rent.

Appears in 1 contract

Samples: Amendment to Lease (Sequenom Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option its Option to extend the Lease Term Extend, Landlord shall notify Tenant of Landlord’s determination of but rejects (or is deemed to reject) the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of set forth in the Option Rent Rent Notice pursuant to Section 2.2.3, in good faith objects to Landlord’s determination of the Option Rent above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to upon the Option Rent on or before the date that is sixty (60) days prior to the expiration of the Lease Term (the “Outside Agreement Date”), then Tenant the Option Rent shall have the right to withdraw its exercise of the option be determined by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease arbitration pursuant to the terms of this Section 2.2 shall be of no further force or effect 2.2.4. If Tenant does not withdraw its exercise of the extension option, each Each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.4, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (FIGS, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term Term pursuant to Section 2.2.1, above, Landlord shall notify deliver written notice (the “Landlord Response Notice”) to Tenant on or before the date which is thirty (30) days after Landlord’s receipt of the Exercise Notice of Landlord’s determination of the Option Rent within thirty (30) days thereafter Rent. If Tenant, on or before the date which is Within ten (10) days following its receipt of the date upon which Landlord Response Notice, Tenant receives shall notify Landlord in writing whether it accepts or objects to the Option Rent set forth in Landlord’s determination of Response Notice. In the Option Rent, event that Tenant in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall meet and attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten on or before the date that is ninety ( 10 90) days following Tenant’s objection prior to the Option Rent expiration of the initial Lease Term (the “Outside Agreement Date”), then Tenant the Option Rent shall have the right to withdraw its exercise of the option be determined by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease arbitration pursuant to the terms of this Section 2.2 shall be of no further force or effect 2.2.3. If Tenant does not withdraw its exercise of the extension option, each Each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections Section 2.2.3.1 through 2.2.3.7 Section 2.2.3.4, below. If Tenant fails to object to Landlord’s The determination of the Option Rent within the time period set forth herein, then Tenant arbitrators shall be deemed to have objected to Landlord’s determination of Option Rent made by taking into consideration all Comparable Transactions as calculated under the Constant Rate Equivalent Approach.

Appears in 1 contract

Samples: Office Lease (Envivio Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term Term pursuant to Section 2.4.1, above, Landlord shall notify deliver written notice (the “Landlord Response Notice”) to Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is thirty (30) days after Landlord’s receipt of the Exercise Notice of Landlord’s good faith determination of the Option Rent. Within ten (10) days following its receipt of the date upon which Landlord Response Notice, Tenant receives shall notify Landlord in writing whether it accepts or objects to the Option Rent set forth in Landlord’s determination of Response Notice. In the Option Rent, event that Tenant in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall meet and attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten on or before the date that is ninety ( 10 90) days following Tenant’s objection prior to the Option Rent expiration of the initial Lease Term (the “Outside Agreement Date”), then Tenant the Option Rent shall have the right to withdraw its exercise of the option be determined by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease arbitration pursuant to the terms of this Section 2.2 shall be of no further force or effect 2.4.3. If Tenant does not withdraw its exercise of the extension option, each Each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 Section 2.4.3.1 through 2.2.3.7 Section 2.4.3.4, below. If Tenant fails to object to Landlord’s The determination of the Option Rent within the time period set forth herein, then Tenant arbitrators shall be deemed to have objected to Landlord’s determination of Option Rent made by taking into consideration all Comparable Transactions as calculated under the Constant Rate Equivalent Approach.

Appears in 1 contract

Samples: Office Lease (Rodgers Silicon Valley Acquisition Corp)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord ’s 's determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord ’s 's determination of the Option Rent, in good faith objects to Landlord ’s 's determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant ’s 's objection to the Option Rent (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall thereafter make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after the Outside Agreement Date of Landlord's receipt of Tenant's Arbitration Notice, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.4, below. If Tenant fails to object to Landlord ’s 's determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord ’s 's determination of Option Rent.

Appears in 1 contract

Samples: Cytori Therapeutics, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord ’s 's determination of the Option Rent within on or before the date that is thirty (30) days thereafter following Landlord's receipt of the Option Exercise Notice. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord ’s 's determination of the Option Rent, in good faith objects to Landlord ’s 's determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant ’s 's objection to the Option Rent (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall thereafter make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after of the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.3.4.1 through 2.2.3.7 2.3.4.4, below. If Tenant fails to object to Landlord ’s 's determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to rejected Landlord ’s 's determination of the Option Rent , and the matter shall be submitted to arbitration in accordance with the terms hereof.

Appears in 1 contract

Samples: VistaGen Therapeutics, Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an its option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within on or before the date that is thirty (30) days thereafter following Landlord’s receipt of the Option Exercise Notice. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall thereafter make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) business days after of the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7 2.2.3.8, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to rejected Landlord’s determination of the Option Rent , and the matter shall be submitted to arbitration in accordance with the terms hereof.

Appears in 1 contract

Samples: Benitec Biopharma LTD/ADR

Determination of Option Rent. In the event Tenant timely and appropriately exercises an the option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) business days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall thereafter make a separate determination of the Option Rent, as the case may be, Rent within ten fifteen ( 10 15) business days after of the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to accept or reject Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to rejected Landlord’s determination of Option Rent , and each party shall make their separate determinations of Option Rent and the matter shall be submitted to arbitration in accordance with the terms hereof.

Appears in 1 contract

Samples: Principia Biopharma Inc.

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option objects to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before in the date which is ten (10) days following the date upon which event that Tenant receives Landlord’s determination of shall deliver the Option Rent, in good faith objects to Landlord’s determination of Exercise Notice without having delivered the Option Rent Interest Notice, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent or within thirty (30) days following the date of Tenant’s delivery of the Option Exercise Notice if Tenant did not deliver the Option Interest Notice, as the case may be (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) days after the Outside Agreement Date business days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7 2.2.4.7, below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Office Lease (Blucora, Inc.)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option objects to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of set forth in the Option Rent Rent Notice, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, Rent within ten five ( 10 5) business days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 2.2.4.1 through 2.2.3.7, 2.2.4.6 below . If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent .

Appears in 1 contract

Samples: Industrial Lease (Celtron International Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option objects to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good- good faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant ’s 's objection to the Option Rent (the "Outside Agreement Date "), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, Rent within ten an additional thirty ( 10 30) days after the Outside Agreement Date days, and such determinations 1888 Century Park East [SCPIE Holdings Lease] 4 shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, as set forth below. If Failure of Landlord or Tenant fails to object to Landlord’s make a determination of the Option Rent within the time second thirty-day period set forth herein, then Tenant shall conclusively be deemed to have objected to Landlord’s determination its approval of the Option Rent Rent determined by the other.

Appears in 1 contract

Samples: Office Lease (Scpie Holdings Inc)

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter on or before the Lease Expiration Date. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 6.2(a) through 2.2.3.7 6.2.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Amendment to Lease (Cardica Inc)

Determination of Option Rent. Notwithstanding any provision to the contrary contained herein, within fifteen (15) business days following Landlord’s receipt of written request from Tenant (which request shall not be delivered earlier than fifteen (15) months prior to the commencement of the Option Term nor later than ten (10) months prior to the commencement of the Option Term), Landlord shall provide Tenant with Landlord’s nonbinding good faith estimate of the Fair Rental Value for the Premises during the Option Term. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty on or before the date which occurs six ( 30 6) days thereafter months prior to the Lease Expiration Date. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be maybe, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: BioAtla, Inc.

Determination of Option Rent. Within thirty (30) days following written request from Tenant, which request may be made not earlier than sixteen (16) months and not later than thirteen (13) months prior to the Lease Expiration Date or expiration of the initial Option Term, as applicable, Landlord shall provide Tenant with its non-binding (except as expressly set forth to the contrary in this Section 2.2.3, below), good faith estimate of the Option Rent (the “Estimated Option Rent”). Whether or not Tenant requests Landlord’s Estimated Option Rent, Tenant may exercise its option to extend the Lease Term in accordance with the terms of Section 2.2.1. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty ( 30 which may or may not be equal to the Estimated Option Rent) days thereafter on or before the date which is at least nine (9) months prior to the Lease Expiration Date or the expiration date of the initial Option Term, as applicable; provided, however, that if Tenant expressly accepts Landlord’s Estimated Option Rent at the time Tenant timely and appropriately exercises an option to extend the Lease Term, then Landlord’s Estimated Option Rent shall be deemed to be the Option Rent for the Option Term, and binding on both Landlord and Tenant. If Tenant, on or before the date which is ten thirty ( 10 30) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten thirty ( 10 30) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten five ( 10 5) days after the Outside Agreement Date days, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to accepted Landlord’s determination of Option Rent.

Appears in 1 contract

Samples: Anaplan, Inc.