Common use of Early Termination of Master Lease Clause in Contracts

Early Termination of Master Lease. If, without the fault of Sublandlord or Subtenant, the Master Lease should terminate prior to the expiration of this Sublease, neither party shall have any liability to the other party. To the extent that the Master Lease grants Sublandlord any discretionary right to terminate the Master Lease, whether due to casualty, condemnation or otherwise, Sublandlord shall be entitled to exercise or not exercise such right in its complete and absolute discretion; provided, however, that Sublandlord shall use reasonable efforts to give to Subtenant as much prior notice of its intent to terminate as practicable.

Appears in 2 contracts

Samples: Sublease (Renovis Inc), Sublease (Exelixis Inc)

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Early Termination of Master Lease. If, without the fault of Sublandlord Sublessor or SubtenantSublessee, the Master Lease should terminate prior to the expiration of this Sublease, neither party shall have any liability to the other party. To the extent that the Master Lease grants Sublandlord Sublessor any discretionary right to terminate the Master Lease, whether due to casualty, condemnation or otherwise, Sublandlord Sublessor shall be entitled to exercise or not exercise such right in its complete and absolute discretion; provided, however, that Sublandlord Sublessor shall use reasonable efforts to give to Subtenant Sublessee as much prior notice of its intent to terminate as practicable.

Appears in 2 contracts

Samples: Sublease (Tularik Inc), Tularik Inc

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