Timely Exercise Sample Clauses
The Timely Exercise clause establishes the requirement for a party to act within a specified period to exercise a right or option under the agreement. Typically, this means that if a party wishes to take advantage of a contractual right—such as purchasing additional shares, renewing a lease, or invoking a remedy—they must notify the other party or complete the necessary action within the timeframe set out in the contract. This clause ensures that rights are exercised promptly, preventing uncertainty or disputes about whether a party has missed their opportunity, and thereby promotes clarity and predictability in the contractual relationship.
Timely Exercise. In the event the applicable option is exercised in a timely fashion, the Lease shall be extended for the term of the applicable extension period upon all of the terms and conditions of the Lease, provided that, the Base Monthly Rent for each extension period with respect to the Lease shall be one hundred percent (100%) of the “Fair Market Rent” (defined below) for the Leased Premises, determined as set forth below, with annual increases as determined as part of the process set forth below.
Timely Exercise. Cavalier shall have delivered the Exercise Notice in a timely fashion as provided in Section 1.2 hereof.
Timely Exercise. If Grantee:
(i) Timely exercises the Option in accordance with the express terms of this Agreement, then Grantee shall be entitled and obligated to purchase the APSG Interests from Grantor, and Grantor shall be obligated to sell the APSG Interests to Grantee, pursuant to this Agreement.
(ii) Fails to timely exercise the Option in accordance with the express terms of this Agreement, then at the expiration of the Option Term, the Option shall expire and Grantee shall have no further rights and Grantor shall have no further duties under this Agreement.
Timely Exercise. If Tenant delivers Tenant’s ROFO Election Notice within the time period required herein, Tenant shall be bound and obligated to lease from Landlord, and Landlord shall be bound and obligated to lease to Tenant, Building 2 on the terms hereinafter described, and Landlord and Tenant shall enter into a new lease on substantially the same other terms as this Lease (except such lease shall not include a right of first offer) for Building 2 (and shall use commercially reasonable efforts to do so within fifteen (15) business days after Landlord’s receipt of Tenant’s ROFO Election Notice). The per square foot economic terms shall be the terms set forth in the ROFO Notice and shall apply to the entire Building 2. Anything herein to the contrary notwithstanding, if Tenant is in default under any of the terms, covenants or conditions of this Lease (with respect to which it had received written notice from Landlord), either at the time Tenant sends Tenant’s ROFO Election Notice or upon executing the new lease, Landlord shall have, in addition to all of Landlord’s other rights and remedies provided in this Lease, the right to terminate the right of first offer contained herein upon notice to Tenant. For the avoidance of confusion, the foregoing shall not be read to prevent Tenant from curing the applicable default and then sending Tenant’s ROFO Election Notice or executing the new lease once the default is cured if such cure is completed within the applicable cure period, if any, expressly set forth in this Lease. Building 4