Common use of Notice and Acceptance of Terms Clause in Contracts

Notice and Acceptance of Terms. In the event Tenant timely exercises Tenant’s First Option to Extend as set forth herein, Landlord shall, within fifteen (15) days after receipt of Tenant’s exercise of option, advise Tenant of the Revised Terms and Conditions, Basic Rent and Security Deposit (however, in no event shall the required Security Deposit be less than the Security Deposit required in Lease Paragraph 4.G (“Rent: Security Deposit”)) required for the First Extended Term of the Lease, with the Basic Rent rate for the First Extended Term being the greater of (i) the monthly Basic Rent rate due for the last month of the initial Lease Term or (ii) the then current market Basic Rent Rate, as determined by Landlord, for a comparable Term and for comparable buildings in Fremont, California (the “Market Basic Rent Rate”). Tenant shall have ten (10) business days after receipt from the Landlord of said Revised Terms and Conditions Basic Rent and Security Deposit in which to (i) accept said Revised Terms and Conditions, Basic Rent and Security Deposit and enter into written documentation confirming same or to (ii) challenge Landlord’s Market Basic Rent Rate by giving written notice of said challenge to Landlord (“Tenant’s Challenge”). In the event Tenant fails to (i) execute said written documentation confirming said Revised Terms and Conditions, Basic Rent and Security Deposit for the First Extended Term of Lease or (ii) challenge Landlord’s Market Basic Rent Rate within said ten (10) business day period, Tenant shall have no further Option to Extend this Lease, and this Lease shall continue in full force and effect for the full remaining Term hereof absent this Paragraph 46.A and Paragraph 46.B, with Landlord having no further responsibility or obligation to Tenant with respect to Tenant’s Option to Extend. In the event Tenant challenges Landlord’s Market Basic Rent Rate, Landlord and Tenant shall attempt to agree upon the Market Basic Rent Rate using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days of Tenant’s Challenge notice (the “Outside Agreement Date”), then each party shall make a separate determination of the Market Basic Rent Rate which shall be submitted to each other and to arbitration in accordance with the following items (i) through (vii):

Notice and Acceptance of Terms. In the event Tenant timely exercises Tenant’s First Second Option to Extend as set forth herein, Landlord shall, within fifteen (15) days after receipt of Tenant’s exercise of option, advise Tenant of the Revised Terms and Conditions, Basic Rent and Security Deposit (however, in no event shall the required Security Deposit be less than the Security Deposit required in Lease Paragraph 4.G (“Rent: Security Deposit”)) required for the First Second Extended Term of the Lease, with the Basic Rent rate for the First Second Extended Term being the greater of (i) the monthly Basic Rent rate due for the last month of the initial First Extended Lease Term or (ii) the then current market Basic Rent Rate, as determined by Landlord, for a comparable Term and for comparable buildings in Fremont, California (the “Market Basic Rent Rate”). Tenant shall have ten (10) business days after receipt from the Landlord of said Revised Terms and Conditions Conditions, Basic Rent and Security Deposit in which to (i) accept said Revised Terms and Conditions, Basic Rent and Security Deposit and enter into Initial: DWD/JA written documentation confirming same or to (ii) challenge Landlord’s Market Basic Rent Rate by giving written notice of said challenge to Landlord (“Tenant’s Challenge”). In the event Tenant fails to (i) execute said written documentation confirming said Revised Terms and Conditions, Basic Rent and Security Deposit for the First Second Extended Term of Lease or (ii) challenge Landlord’s Market Basic Rent Rate within said ten (10) business day period, Tenant shall have no further Option to Extend this Lease, and this Lease shall continue in full force and effect for the full remaining Term hereof absent this Paragraph 46.A and Paragraph 46.B46, with Landlord having no further responsibility or obligation to Tenant with respect to Tenant’s Option to Extend. In the event Tenant challenges Landlord’s Market Basic Rent Rate, Landlord and Tenant shall attempt to agree upon the Market Basic Rent Rate using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days of Tenant’s Challenge notice (the “Outside Agreement Date”), then each party shall make a separate determination of the Market Basic Rent Rate which shall be submitted to each other and to arbitration in accordance with the following items (i) through (vii):

Notice and Acceptance of Terms. In the event Tenant timely exercises Tenant’s First Option to Extend as set forth herein, Landlord shall, within fifteen (15) days after receipt of Tenant’s exercise of option, advise Tenant of the Revised Terms terms and Conditionsconditions, Security Deposit and Basic Rent and Security Deposit (however, in no event shall the required Security Deposit be less than the Security Deposit required in Lease Paragraph 4.G (“Rent: Security Deposit”)) required for the First Extended Term of the Lease, with the Basic Rent rate for the First Extended Term being the greater of (i) the monthly Basic Rent rate due for the last month of the initial Lease Term (the “Minimum Basic Rent Rate”) or (ii) the then current market Basic Rent Rate, as determined by Landlord, for a comparable Term and for comparable buildings and improvements in Fremont, California (the “Market Basic Rent Rate”). Tenant shall have ten (10) business days after receipt from the Landlord of said Revised Terms new terms and Conditions conditions, Security Deposit and Basic Rent and Security Deposit in which to (ia) accept said Revised Terms new terms and Conditionsconditions, Security Deposit and Basic Rent and Security Deposit and enter into written documentation confirming same or to (iib) challenge Landlord’s Market Basic Rent Rate by giving written notice of said challenge to Landlord (“Tenant’s Challenge”). In the event Tenant fails to (ix) execute said written documentation confirming said Revised Terms new terms and Conditionsconditions, Security Deposit and Basic Rent and Security Deposit for the First Extended Term of the Lease or (iiy) challenge Landlord’s Market Basic Rent Rate within said ten (10) business day period, Tenant shall have no further Option to Extend this Lease, and this Lease shall continue in full force and effect for the full remaining Term hereof absent this Paragraph 46.A and Paragraph 46.B47, with Landlord having no further responsibility or obligation to Tenant with respect to Tenant’s Option to Extend. In the event Tenant timely challenges Landlord’s Market Basic Rent Rate, Landlord and Tenant shall attempt to agree upon the Market Basic Rent Rate using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) business days of Tenant’s Challenge notice (the “Outside Agreement Date”), then each party shall make a separate determination of the Market Basic Rent Rate which shall be submitted to each other and to arbitration in accordance with the following items (i) through (vii):