Common use of Occupancy Rights Clause in Contracts

Occupancy Rights. 4.1 Any employee of a Xxxxxx Entity or Spinco Entity who is located at a facility of the other party may remain at such location for a period not to exceed 180 days after the date of the spin-off; provided, however, that such employee shall be required to adhere to all applicable security restrictions and guidelines at such facility. Thereafter, the owner of such facility may require such employee(s) to vacate the premises unless, prior to such time, the parties have executed a formal lease or other occupancy arrangement upon commercially reasonable terms that are mutually acceptable to the parties.

Occupancy Rights. 4.1 Any employee Employee of a Xxxxxx Entity or Spinco Xxxxxxx Entity who is located at a facility of the other party may remain at such location for a period not to exceed 180 days after the date of the spin-off; provided, however, that such employee shall be required to adhere to all applicable security restrictions and guidelines at such facility. Thereafter, the owner of such facility may require such employee(s) to vacate the premises unless, prior to such time, the parties have executed a formal lease or other occupancy arrangement arrangements upon commercially reasonable terms that are mutually acceptable to the parties.