Common use of Notice; Exercise Clause in Contracts

Notice; Exercise. (1) In order to exercise its right to lease the Second Hold Space Premises, Evolent shall provide Landlord with written notice on or before the Notice Outside Date, which notice from Evolent shall state therein (i) Evolent’s reasonable determination of the Prevailing Market Rent for the Premises for the Short Term Extension Period, and (ii) Evolent’s reasonable determination of the Prevailing Market Rent for the Second Hold Space Premises, and (iii) the number of square feet of rentable area that Evolent desires to lease pursuant to this Section 45, provided that in no event shall the number of square feet of area comprising the Second Hold Space Premises be less than 14,550 rentable square feet of area. If Evolent shall fail to exercise its option to lease the Second Hold Space Premises on or before the Notice Outside Date, then Landlord shall be free to offer to lease and to lease such space on the seventh (7th) floor to others and Evolent’s right to lease said Second Hold Space Premises shall be void and of no force or effect for the remainder of the Term of this Lease (Evolent’s right hereunder being a one-time right as to such Second Hold Space Premises), and Landlord may lease said Second Hold Space Premises to others under such terms and for such periods as shall be acceptable to Landlord (it being agreed that time shall be of the essence in Evolent’s delivery of the aforesaid notice to Landlord and that, if such written notice is not so delivered within the time aforesaid, Landlord will rely to its detriment on Evolent’s failure to give such written notice).

Notice; Exercise. (1) In order to exercise its right to lease the Second Hold Space Premises, Evolent shall provide Landlord with written notice on or before the Notice Outside Date, which notice from Evolent shall state therein (i) Evolent’s reasonable determination of the Prevailing Market Rent for the Premises for the Short Term Extension Period, and (ii) Evolent’s reasonable determination of the Prevailing Market Rent for the Second Hold Space Premises, and (iii) the number of square feet of rentable area that Evolent desires to lease pursuant to this Section 45, provided that in no event shall the number of square feet of area comprising the Second Hold Space Premises be less than 14,550 14,560 rentable square feet of area. If Evolent shall fail to exercise its option to lease the Second Hold Space Premises on or before the Notice Outside Date, then Landlord shall be free to offer to lease and to lease such space on the seventh sixth (7th6th) floor to others and Evolent’s right to lease said Second Hold Space Premises shall be void and of no force or effect for the remainder of the Term of this Lease (Evolent’s right hereunder being a one-time right as to such Second Hold Space Premises), and Landlord may lease said Second Hold Space Premises to others under such terms and for such periods as shall be acceptable to Landlord (it being agreed that time shall be of the essence in Evolent’s delivery of the aforesaid notice to Landlord and that, if such written notice is not so delivered within the time aforesaid, Landlord will rely to its detriment on Evolent’s failure to give such written notice).

Notice; Exercise. (1) In order the event that Landlord receives from a third party prospective tenant a response to a proposal for all or any portion of the ROFN Space which is on terms that Landlord is willing to accept, then Landlord shall provide written notice to Evolent of the existence of such prospective third party tenant, in which event Evolent shall give to Landlord written notice of Evolent’s exercise of its right option to so lease the Second Hold ROFN Space Premises, Evolent shall provide within five (5) business days after the date on which Landlord with gives written notice on or before the Notice Outside Date, which notice from to Evolent shall state therein (i) Evolent’s reasonable determination of the Prevailing Market Rent for the Premises for the Short Term Extension Period, and (ii) Evolent’s reasonable determination of the Prevailing Market Rent for the Second Hold Space Premises, and (iii) the number of square feet of rentable area that Evolent desires to lease pursuant to this Section 45, provided that in no event shall the number of square feet of area comprising the Second Hold Space Premises be less than 14,550 rentable square feet of areasuch prospective third party tenant. If Evolent shall fail to exercise its option to lease the Second Hold ROFN Space Premises on or before within said five (5) business days after the Notice Outside Datedate of such notice from Landlord of the existence of a prospective third party tenant, then (i) Landlord shall be free to offer enter into a lease with such third party tenant upon terms and conditions acceptable to lease Landlord in its sole and absolute discretion, and (ii) Evolent’s rights set forth in this Section 46 with respect to lease such any remaining space on the seventh sixth (7th6th) floor of the Building which is not the subject of such lease with such third party tenant shall remain in full force and effect through and including the date on which all rentable office space on the sixth (6th) floor of the Building has been leased. In the event that Landlord and such third (3rd) party tenant do not enter into a lease, then Landlord shall not be permitted to others enter into a lease with a new third party tenant until such time as Landlord has notified Evolent of the existence of such new third party tenant and Evolent’s Evolent has failed to exercise its right to lease said Second Hold Space Premises shall be void and of no force or effect for the remainder applicable portion of the Term of this Lease (Evolent’s right hereunder being a one-time right as to such Second Hold ROFN Space Premises), and Landlord may lease said Second Hold Space Premises to others under such terms and for such periods as shall be acceptable to Landlord (it being agreed that time shall be of the essence in Evolent’s delivery of the aforesaid notice to Landlord and that, if such written notice is not so delivered within the time aforesaid, Landlord will rely to its detriment on Evolent’s failure to give aforementioned five (5) business day period following such written notice)notice from Landlord.