Common use of Shared Properties Clause in Contracts

Shared Properties. During the period commencing on the date of this Agreement and ending, in respect of each Shared Property in which the Seller’s Group has a leasehold interest, on the Separation Effective Time, each of Seller and Company shall, and shall cause the applicable member(s) of their respective Groups to, use reasonable best endeavours to (i) appropriately amend, bifurcate, replicate or otherwise modify the Lease for the Shared Property, in a form reasonably acceptable to each party, or (ii) terminate the Lease and each subsequently enter into a separate Lease with the landlord (in the case of each of sub-clause (i) and (ii), a “Split Lease”). Notwithstanding anything in this Agreement, this Agreement shall not constitute an agreement for either party to enter into a Split Lease if such Split Lease or Facility Licence would be prohibited by applicable laws or regulation; or would (x) constitute a breach or other contravention of any Lease, or (y) be ineffective, void or voidable, in the case of each of sub-clause (x)-(y), unless and until the necessary approval (including deemed approval if applicable), authorisation or consent of landlord(s) under the Lease to permit the Split Lease or Facility Licence, as applicable, has been obtained (a “Split Lease Approval”).

Shared Properties. During the period commencing on the date of this Original Agreement Date and ending, in respect of each Shared Property in which the Seller’s Group has a leasehold interest, on the Separation Effective Time, each of Seller and Company shall, and shall cause the applicable member(s) of their respective Groups to, use reasonable best endeavours to (i) appropriately amend, bifurcate, replicate or otherwise modify the Lease for the Shared Property, in a form reasonably acceptable to each party, or (ii) terminate the Lease and each subsequently enter into a separate Lease with the landlord (in the case of each of sub-clause (i) and (ii), a “Split Lease”). Notwithstanding anything in this Agreement, this Agreement shall not constitute an agreement for either party to enter into a Split Lease if such Split Lease or Facility Licence would be prohibited by applicable laws or regulation; or would (x) constitute a breach or other contravention of any Lease, or (y) be ineffective, void or voidable, in the case of each of sub-clause (x)-(y), unless and until the necessary approval (including deemed approval if applicable), authorisation or consent of landlord(s) under the Lease to permit the Split Lease or Facility Licence, as applicable, has been obtained (a “Split Lease Approval”).