Common use of Early Availability Clause in Contracts

Early Availability. Tenant acknowledges that the Suite 1401 Expansion Space is currently leased to another tenant (such lease as the same may be amended from time to time (the “Existing Lease”). Notwithstanding anything herein to the contrary, if the Existing Lease terminates (or the existing tenant’s right to possession is terminated) prior to its stated expiration date due to a material default by the tenant under the Existing Lease and not as a result of a relocation of the tenant under the Existing Lease, Landlord, at its option, may provide Tenant with written notice of such prior termination (the “Prior Termination Notice”). If Landlord provides Tenant with a Prior Termination Notice, Tenant shall have the option to lease the Suite 1401 Expansion Space in accordance with the terms and conditions set forth in Section 5.01 above, except that the Suite 1401 Expansion Notice shall be due within 30 days after the date of Landlord’s Prior Termination Notice, and the commencement date for such Suite 1401 Expansion Space shall be one (1) day after the date Landlord delivers possession of the Suite 1401 Expansion Space to Tenant, it being agreed that Landlord shall deliver the Suite 1401 Expansion Space to Tenant as soon as reasonably possible after Landlord obtains possession of the Suite 1401 Expansion Space from the existing tenant under the Existing Lease. If Tenant does not provide Landlord with an Suite 1401 Expansion Notice within such 30 day period or if Tenant is not entitled to exercise its Suite 1401 Expansion Option due to a violation of one of the conditions set forth in Section 5.01 above, Tenant’s Suite 1401 Expansion Option shall be deemed to be null and void and Tenant shall have no further rights to lease the Suite 1401 Expansion Space hereunder.

Appears in 1 contract

Sources: Office Lease Agreement (Rapid7 Inc)

Early Availability. Tenant acknowledges that the Suite 1401 Expansion Space is currently leased to another tenant (such lease as the same may be amended from time to time (the “Existing Lease”). Notwithstanding anything herein to the contrary, if the Existing Lease terminates (or the existing tenant’s ▇▇▇▇’▇ right to possession is terminated) ), or is reasonably anticipated by Landlord to be terminated, prior to its stated expiration date due to a material default by the tenant under the Existing Lease and not as a result of a relocation of the tenant under the Existing Leasedefault by ▇▇▇▇ thereunder, Landlord, at its option, may provide Tenant with written notice of such prior termination (the “Prior Termination Notice”). Notwithstanding any provision to the contrary in this Section 11.3, Landlord shall have no right to provide Tenant with a Prior Termination Notice in the event the Existing Lease terminates for any reason other than a default by ▇▇▇▇ thereunder (including, without limitation, any early termination of the Existing Lease mutually agreed to by ▇▇▇▇ and Landlord which is not a result of or related to a default by ▇▇▇▇ under the Existing Lease), and Tenant shall continue to have the option to lease the Future Expansion Space in accordance with the terms and conditions of Section 11.1 above. If Landlord provides Tenant with a Prior Termination Notice, Tenant shall have the option to lease the Suite 1401 Future Expansion Space in accordance with the terms and conditions set forth in Section 5.01 11.1 above, except that the Suite 1401 Expansion Notice shall be due within 30 thirty (30) days after the date of Landlord’s Prior Termination Notice, and the commencement date for such Suite 1401 Future Expansion Space shall be one (1) day after determined in accordance with the date Landlord delivers possession terms of the Suite 1401 Expansion Space to TenantSection 11.2.4, above, it being agreed that Landlord shall in no event deliver the Suite 1401 Future Expansion Space to Tenant as soon as reasonably possible after Landlord obtains possession of the Suite 1401 Expansion Space from the existing tenant under the Existing Leaseprior to February 1, 2011. If Tenant does not provide Landlord with an Suite 1401 Expansion Notice within such 30 thirty (30) day period or if Tenant is not entitled to exercise its Suite 1401 Expansion Option due to a violation of one of the conditions set forth in Section 5.01 11.1 above, Tenant’s Suite 1401 Expansion Option shall be deemed to be null and void and Tenant shall have no further rights to lease the Suite 1401 Future Expansion Space hereunder.

Appears in 1 contract

Sources: Office Lease Agreement (Virgin America Inc.)