Common use of IN THE BUILDING Clause in Contracts

IN THE BUILDING. Subject to the provisions of this Section 39, if the MyoKardia Lease terminates during the Base Term and this Lease remains in full force and effect, the first time during the Base Term that Landlord intends to agree to a written proposal (the “MyoKardia Space Pending Deal”) to lease the Available Space (as hereinafter defined) to a third party, Landlord shall deliver to Tenant written notice (the “MyoKardia Space Pending Deal Notice”) of the existence of such MyoKardia Space Pending Deal. For purposes of this Section 39(b), “Available Space” shall mean the Myokardia Premises, which is not occupied by a tenant or which is occupied by a then existing tenant whose lease is expiring within 6 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. Tenant shall be entitled to exercise its right under this Section 39(b) only with respect to the entire Available Space described in such MyoKardia Space Pending Deal Notice. Within 10 days after Tenant’s receipt of the MyoKardia Space Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “MyoKardia Space Acceptance Notice”) if Tenant elects to lease the Available Space. Tenant’s right to receive the MyoKardia Space Pending Deal Notice and election to lease or not lease the Available Space pursuant to this Section 39(b) is hereinafter referred to as the “Right of First Refusal.” If Tenant elects to lease the space described in the MyoKardia Space Pending Deal Notice by delivering the MyoKardia Space Acceptance Notice within the required 10 day period, Tenant shall be deemed to agree to lease the Available Space on the same general terms and conditions as this Lease except that the terms of this Lease shall be modified to reflect the terms of the MyoKardia Space Pending Deal Notice for the rental of the Available Space; provided, that if the term of the Lease with respect to the Available Space would expire after the Base Term of the Lease with respect to the original Premises, the Base Term of the Lease with respect to the original Premises shall be extended so as to be co-terminous with the term of the Lease with respect to the Available Space. Notwithstanding anything to the contrary contained herein, in no event shall the TI Allowance or Landlord’s Work apply to the Available Space. If Tenant fails to deliver a Myokardia Space Acceptance Notice to Landlord within the required 10 day period, Tenant’s rights under this Section 39(b) shall terminate in their entirety and this Section 39(b) shall be of no further force or effect. Net Multi-Tenant Laboratory 400 E. Xxxxx Xxxxx/Global Blood Therapeutics - Page 28

Appears in 2 contracts

Samples: Lease Agreement (Global Blood Therapeutics, Inc.), Lease Agreement (Global Blood Therapeutics, Inc.)

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IN THE BUILDING. Subject to the provisions of this Section 39, if the MyoKardia GBT Lease terminates during the Base Term and this Lease remains in full force and effect, the first time during the Base Term that Landlord intends to agree to a written proposal (the “MyoKardia GBT Space Pending Deal”) to lease the Available Space (as hereinafter defined) to a third party, Landlord shall deliver to Tenant written notice (the “MyoKardia GBT Space Pending Deal Notice”) of the existence of such MyoKardia GBT Space Pending Deal. For purposes of this Section 39(b), “Available Space” shall mean the Myokardia GBT Premises, which is not occupied by a tenant or which is occupied by a then existing tenant whose lease is expiring within 6 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. Tenant shall be entitled to exercise its right under this Section 39(b) only with respect to the entire Available Space described in such MyoKardia GBT Space Pending Deal Notice. Within 10 days after Tenant’s receipt of the MyoKardia GBT Space Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “MyoKardia GBT Space Acceptance Notice”) if Tenant elects to lease the Available Space. Tenant’s right to receive the MyoKardia GBT Space Pending Deal Notice and election to lease or not lease the Available Space pursuant to this Section 39(b) is hereinafter referred to as the “Right of First Refusal.” If Tenant elects to lease the space described in the MyoKardia GBT Space Pending Deal Notice by delivering the MyoKardia GBT Space Net Multi-Tenant Laboratory 400 E. Xxxxx Xxxxx/Myokardia - Page 28 Acceptance Notice within the required 10 day period, Tenant shall be deemed to agree to lease the Available Space on the same general terms and conditions as this Lease except that the terms of this Lease shall be modified to reflect the terms of the MyoKardia GBT Space Pending Deal Notice for the rental of the Available Space; provided, that if the term of the Lease with respect to the Available Space would expire after the Base Term of the Lease with respect to the original Premises, the Base Term of the Lease with respect to the original Premises shall be extended so as to be co-terminous with the term of the Lease with respect to the Available Space. Notwithstanding anything to the contrary contained herein, in no event shall the TI Allowance or Landlord’s Work apply to the Available Space. If Tenant fails to deliver a Myokardia GBT Space Acceptance Notice to Landlord within the required 10 day period, Tenant’s rights under this Section 39(b) shall terminate in their entirety and this Section 39(b) shall be of no further force or effect. Net Multi-Tenant Laboratory 400 E. Xxxxx Xxxxx/Global Blood Therapeutics - Page 28.

Appears in 2 contracts

Samples: Lease Agreement (Global Blood Therapeutics, Inc.), Lease Agreement (Global Blood Therapeutics, Inc.)

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