Common use of Construction in Vicinity Clause in Contracts

Construction in Vicinity. Sublandlord acknowledges that (a) Prime Landlord and/or its affiliates (“Neighboring Owners”) own several properties in the vicinity of the Building, (b) during the Term, the Neighboring Owners may undertake various construction projects, which may include the construction of new and/or additional buildings (each, a “Project,” and collectively, the “Projects”), and (c) customary construction impacts (taking into account the urban nature of the Property, the proximity of the Building to the Project site and other relevant factors) may result therefrom. Prime Landlord shall use commercially reasonable efforts to minimize (and cause its affiliates to minimize) materially adverse construction impacts in accordance with the mitigation plan described below. Prior to the commencement of any Project by Prime Landlord, Prime Landlord shall deliver to Sublandlord a construction mitigation plan that shall detail such commercially reasonable mitigation measures. Subject to Prime Landlord’s compliance with this paragraph, and notwithstanding any other provision of this Lease, in no event shall Prime Landlord be liable to Sublandlord for any compensation or reduction of rent or any other damages arising from the Projects and Sublandlord shall not have the right to terminate the Lease due to the construction of the Projects, nor shall the same give rise to a claim in Sublandlord’s favor that such construction constitutes actual or constructive, total or partial, eviction from the Premises. Notwithstanding any provision in this Lease to the contrary, in no event shall Sublandlord seek injunctive or any similar relief to stop, delay or modify any Project.

Appears in 2 contracts

Sources: Consent to Sublease, First Amendment of Lease and Amendment of Sublease (Praxis Precision Medicines, Inc.), Consent to Sublease, First Amendment of Lease and Amendment of Sublease (Praxis Precision Medicines, Inc.)

Construction in Vicinity. Sublandlord Tenant acknowledges that (a) Prime Landlord and/or its affiliates (“Neighboring Owners”) own several properties in the vicinity of the Building, (b) during the Term, the Neighboring Owners may undertake various construction projects, which may include the construction of new and/or additional buildings (each, a “Project,” and collectively, the “Projects”), and (c) customary construction impacts (taking into account the urban nature of the Property, the proximity of the Building to the Project site and other relevant factors) may result therefrom. Prime Landlord shall use commercially reasonable efforts to minimize (and cause its affiliates to minimize) materially adverse construction impacts in accordance with the mitigation plan described below. Prior to the commencement of commencing any Project by Prime LandlordProject, Prime Landlord shall deliver to Sublandlord Tenant a construction mitigation plan that shall detail such commercially reasonable mitigation measures. Subject to Prime Landlord’s compliance with this paragraph, and notwithstanding any other provision of this Lease, in no event shall Prime Landlord be liable to Sublandlord Tenant for any compensation or reduction of rent or any other damages arising from the Projects and Sublandlord Tenant shall not have the right to terminate the Lease due to the construction of the Projects, nor shall the same give rise to a claim in SublandlordTenant’s favor that such construction constitutes actual or constructive, total or partial, eviction from the Premises. Notwithstanding any provision in this Lease to the contrary, in no event shall Sublandlord Tenant seek injunctive or any similar relief to stop, delay or modify any Project.

Appears in 2 contracts

Sources: Lease Agreement (Theseus Pharmaceuticals, Inc.), Lease Agreement (Intellia Therapeutics, Inc.)