Examples of BMR in a sentence
For the avoidance of doubt, in the event that BMR does not enter into a Qualifying New Lease during the Tail Period, then BMR will have no obligation to pay Synlogic any Refund Amount.
The Additional Fee, if any, shall be due and payable to BMR on the closing date for the applicable Qualifying Synlogic Transaction and shall be paid to BMR in consideration for the termination of the Lease prior to the scheduled Term Expiration Date in accordance with this Agreement, the sufficiency of which is hereby acknowledged.
In the event that any of the Termination Conditions have not been satisfied or waived by BMR on or before the Termination Date, this Agreement shall automatically terminate on the Termination Date, except for those provisions that, by their express terms, survive the expiration of earlier termination of this Agreement, the Lease shall continue in full force and effect, and BMR shall refund to Synlogic any Termination Fee actually received by BMR.
In the event that prior to June 30, 2025 (the “Tail Period”) (x) BMR enters into a lease with a third party to lease all but not less than all of the Premises on market rate terms and (y) such third party tenant has commenced to pay base rent under such lease (a “Qualifying New Lease”), then BMR shall pay to Synlogic, by wire transfer in immediately available funds, an amount equal to Four Hundred Twelve Thousand Nine Hundred Sixty-Six and 32/100 Dollars ($412,966.32) (the “Refund Amount”).
Synlogic shall cause the Premises to be surrendered to BMR in vacant, broom clean condition and in the condition required under the Lease no later than June 30, 2024 (“Termination Date”).