Common use of Termination of Right of Availability Clause in Contracts

Termination of Right of Availability. The rights contained in this Section 1.4 shall be personal to Original Tenant, and may only be exercised by Original Tenant or its Permitted Transferee Assignee (and not by any other assignee, sublessee or Transferee of Tenant’s interest in this Lease) if the Lease then remains in full force and effect and if Original Tenant or its Permitted Transferee Assignee has not subleased more than forty percent (40%) of the Premises as of the proposed Availability Premises Lease Commencement Date. The right of availability granted herein shall terminate as to particular Availability Premises upon the failure by Tenant to exercise its right of availability with respect to such Availability Premises as offered by Landlord. Tenant shall not have the right to lease the Availability Premises, as provided in this Section 1.4, if, as of the date of the attempted exercise of any right of first offer by Tenant, Tenant is in default under this Lease beyond any applicable notice and cure periods, or if as of the scheduled date of delivery of such Availability Premises, Tenant is in default under this Lease beyond any applicable notice and cure periods expressly set forth in this Lease, or Tenant has previously been in default under this Lease, beyond any applicable notice and cure periods expressly set forth in this Lease, more than twice during the immediately preceding twelve (12) month period.

Appears in 4 contracts

Samples: Sublease (Reddit, Inc.), Office Lease (Square, Inc.), Office Lease (Square, Inc.)

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Termination of Right of Availability. The rights contained in this Section 1.4 Article 33 shall be personal to the Original TenantTenant and any Permitted Transferee Assignee, and may only be exercised by the Original Tenant or its a Permitted Transferee Assignee (and not by any other assignee, sublessee or Transferee transferee of the Original Tenant’s interest in this Lease) if the Lease then remains in full force and effect and if Original Tenant or its Permitted Transferee Assignee has not subleased more than forty percent (40%) Assignee, as applicable, is then in occupancy of the Premises as of the proposed Availability Premises Lease Commencement Dateentire Premises. The right of availability granted herein shall terminate as to particular Availability Premises upon the failure by Tenant to exercise its right of availability with respect to such Availability Premises as offered by Landlord. Furthermore, Tenant shall not have the right to lease the Availability PremisesAvailable Space, as provided in this Section 1.4Article 33, if, as of the date of the attempted exercise of any right of first offer by TenantAvailable Space becomes available or expected to become available to lease, Tenant is in default under this Lease beyond any applicable notice and cure periods. Furthermore, or if Landlord shall not be obligated to deliver an Availability Notice more than once with respect to any particular Available Space, and Tenant's right as of the scheduled date of delivery of such Availability Premises, Tenant is in default under this Lease beyond any applicable notice and cure periods expressly set forth in this Lease, or Tenant has previously been in default under this Lease, beyond any applicable notice and cure periods expressly set forth in this Lease, more than twice during Article 33 shall terminate on the immediately preceding earlier of (i) the first day of the last twelve (12) month periodmonths of the initial Lease Term provided that Tenant has not exercised its option to extend the Term pursuant to Section 2(c) above, provided that if Tenant has exercised its option to extend the Term, Tenant's rights hereunder shall terminate on the first day of the last twelve (12) months of the Option Term, (ii) the date that Landlord has delivered an Availability Notice with respect to all of the office space on third (3rd) floor of the Building.

Appears in 1 contract

Samples: Standard Office Lease (Glu Mobile Inc)

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