Permitting Contingency. The lease of the Expansion Premises, the obligation of Landlord to perform the Expansion Work and the Expansion Amendment shall be subject to the condition that Landlord obtains all necessary building and other permits and governmental approvals, including, but not limited to, site plan approval, special permits, variances, conservation commission approvals and a building permit (collectively, the “Permits and Approvals”) required to construct and operate the Expansion Premises (the “Permit Contingency”). After the execution of the Expansion Amendment, Landlord agrees to promptly apply for, and diligently pursue, such Permits and Approvals for the Expansion Premises. To the extent Landlord determines that it will be unable through the exercise of reasonable efforts to obtain the Permits and Approvals within nine (9) months after the date of the Expansion Amendment, it shall have the right to terminate the Expansion Amendment upon written notice to Tenant delivered not later than the expiration of such 9-month period, and upon timely delivery of such notice, the Expansion Amendment shall be of no further force and effect, but Tenant shall have the rights set forth in Section 10.3 below to the extent applicable. The failure of Landlord to obtain such Permits and Approvals for the Expansion Premises shall not be deemed a default by Landlord, permit a termination of this Lease by Tenant (except to the limited extent set forth in Section 10.3 below) or otherwise entitle Tenant to any rights or remedies under this Lease.
Appears in 2 contracts
Sources: Lease Agreement (Fractyl Health, Inc.), Lease (Fractyl Health, Inc.)
Permitting Contingency. The lease of the Expansion PremisesFirst Refusal Space, the obligation of Landlord to perform the Expansion First Refusal Space Work and the Expansion First Refusal Amendment shall be subject to the condition that Landlord obtains all necessary building and other permits and governmental approvals, including, but not limited to, site plan approval, special permits, variances, conservation commission approvals and a building permit (collectively, the “Permits and Approvals”) Approvals required to construct and operate the Expansion Premises First Refusal Space (the “First Refusal Permit Contingency”). After the execution of the Expansion First Refusal Amendment, Landlord agrees to promptly apply for, and diligently pursue, such Permits and Approvals for the Expansion PremisesApprovals. To the extent Landlord determines that it will be unable through the exercise of reasonable efforts to obtain the such Permits and Approvals within nine (9) months after the date of the Expansion First Refusal Amendment, it shall have the right to terminate the Expansion First Refusal Amendment upon written notice to Tenant ▇▇▇▇▇▇ delivered not later than the expiration of such 9-month period, and upon timely delivery of such notice, the Expansion First Refusal Amendment and the rights of Tenant under this Section 10.2 shall be of no further force and effect, but Tenant shall have the rights set forth in Section 10.3 below to the extent applicable. The failure of Landlord to obtain such Permits and Approvals for the Expansion Premises First Refusal Space Work shall not be deemed a default by Landlord, permit a termination of this Lease by Tenant (except to the limited extent set forth in Section 10.3 below) or otherwise entitle Tenant to any rights or remedies under this Lease.
Appears in 2 contracts
Sources: Lease Agreement (Fractyl Health, Inc.), Lease (Fractyl Health, Inc.)