Common use of Contraction Rights Exercise Notice Clause in Contracts

Contraction Rights Exercise Notice. Tenant shall exercise a Contraction Right by written notice to Landlord (any such notice, a “Contraction Rights Exercise Notice”), which shall specify, with particularity, (a) the location, approximate Net Rentable Area and configuration of the portions of the Leased Premises (excluding any Short Term Expansion Space) and/or portions of the premises leased under Continuing Term Separate Leases (excluding any Short Term Expansion Space) that Tenant desires to vacate and to terminate this Lease and/or a Continuing Term Separate Lease with respect to (such space, the “Contraction Premises”), (b) whether Tenant desires to exercise its Contraction Rights for the Contraction Premises as a Relocation Right or a Termination Right or a combination thereof (and, if a combination, the Net Rentable Areas covered by each such form of Contraction Right), (c) the approximate date on which Tenant shall vacate and surrender possession of the Contraction Premises to Landlord, which date shall be no earlier than sixty (60) days following the date of Tenant’s Contraction Rights Exercise Notice for Relocation Rights and Termination Rights, and (d) Tenant’s determination of the reduction in Rent payable under this Lease and/or Continuing Term Separate Leases that will result from Tenant’s desired surrender of the Contraction Premises. If Tenant’s Contraction Rights Exercise Notice indicates that Tenant desires to exercise a Relocation Right and, on the date of the Contraction Rights Exercise Notice, Tenant does not have available Relocation Rights sufficient to cover the Net Rentable Area of the Contraction Premises to be terminated by Relocation Rights, Tenant’s Contraction Rights Exercise Notice shall nevertheless be effective as to the entire Contraction Premises identified therein and Tenant shall vacate and surrender possession of such entire Contraction Premises to Landlord, but, on the Contraction Premises Surrender Date, Tenant’s obligation to pay Rent on the Contraction Premises shall terminate as provided in Section 11.6 only as to the number of square feet of Net Rentable Area that Tenant has available Relocation Rights to cover and Tenant shall continue to pay Rent on (but, after the Contraction Premises Surrender Date, shall not have any possessory rights in) the excess portion of the Contraction Premises until the earlier of the date on which (i) Tenant generates the necessary Relocation Rights by adding sufficient additional Coterminous Expansion Space to the Leased Premises and beginning to pay Rent thereon or (ii) Tenant notifies Landlord in writing that Tenant desires to exercise available Termination Rights on the excess Contraction Premises. The approximate Net Rentable Area of the Contraction Premises shall be as identified by Tenant in Tenant’s Contraction Rights Exercise Notice, subject to final measurement by Landlord in conformity with the Measurement Standard. Tenant may exercise available Contraction Rights on whole or partial floors at any Property, as Tenant may elect; provided that if Tenant elects to exercise Contraction Rights on less than full floor in a Building, any such partial floor Contraction Premises shall have a size and configuration, as reasonably agreed by Landlord and Tenant, that makes it readily leaseable to third party tenants.

Contraction Rights Exercise Notice. Tenant shall exercise a Contraction Right by written notice to Landlord (any such notice, a “Contraction Rights Exercise Notice”), which shall specify, with particularity, (a) the location, approximate Net Rentable Area and configuration of the portions of the Leased Premises (excluding any Short Term Expansion Space) and/or portions of the premises leased under Continuing Term Separate Leases (excluding any Short Term Expansion Space) that Tenant desires to vacate and to terminate this Lease and/or a Continuing Term Separate Lease with respect to (such space, the “Contraction Premises”), (b) whether Tenant desires to exercise its Contraction Rights for the Contraction Premises as a Relocation Right, an Early Termination Right or a Termination Right or a combination thereof (and, if a combination, the Net Rentable Areas covered by each such form of Contraction Right), (c) the approximate date on which Tenant shall vacate and surrender possession of the Contraction Premises to Landlord, which date shall be no earlier than sixty (60) days following the date of Tenant’s Contraction Rights Exercise Notice for Relocation Rights and Termination RightsRights and no earlier than fifty-six (56) weeks following the date of Tenant’s Contraction Rights Exercise Notice for Early Termination Rights (except that a Tenant’s Contraction Rights Exercise Notice for Early Termination Rights effective as of the last day of the second Lease Year may be given up to one hundred twenty (120) days prior to the desired vacation and surrender date), and (d) Tenant’s determination of the reduction in Rent payable under this Lease and/or Continuing Term Separate Leases that will result from Tenant’s desired surrender of the Contraction PremisesPremises and (e) for Early Termination Rights only, the required Early Termination Fee. If Tenant’s Contraction Rights Exercise Notice indicates that Tenant desires to exercise a Relocation Right and, on the date of the Contraction Rights Exercise Notice, Tenant does not have available Relocation Rights sufficient to cover the Net Rentable Area of the Contraction Premises to be terminated by Relocation Rights, Tenant’s Contraction Rights Exercise Notice shall nevertheless be effective as to the entire Contraction Premises identified therein and Tenant shall vacate and surrender possession of such entire Contraction Premises to Landlord, but, on the Contraction Premises Surrender Date, Tenant’s obligation to pay Rent on the Contraction Premises shall terminate as provided in Section 11.6 only as to the number of square feet of Net Rentable Area that Tenant has available Relocation Rights to cover and Tenant shall continue to pay Rent on (but, after the Contraction Premises Surrender Date, shall not have any possessory rights in) the excess portion of the Contraction Premises until the earlier of the date on which (i) Tenant generates the necessary Relocation Rights by adding sufficient additional Coterminous Expansion Space to the Leased Premises and beginning to pay Rent thereon or (ii) Tenant notifies Landlord in writing that Tenant desires to exercise available Termination Rights on the excess Contraction Premises. The approximate Net Rentable Area of the Contraction Premises shall be as identified by Tenant in Tenant’s Contraction Rights Exercise Notice, subject to final measurement by Landlord in conformity with the Measurement Standard. Tenant may exercise available Contraction Rights on whole or partial floors at any Property, as Tenant may elect; provided that if Tenant elects to exercise Contraction Rights on less than full floor in a Building, any such partial floor Contraction Premises shall have a size and configuration, as reasonably agreed by Landlord and Tenant, that makes it readily leaseable to third party tenants.

Contraction Rights Exercise Notice. Tenant shall exercise a Contraction Right by written notice to Landlord (any such notice, a “Contraction Rights Exercise Notice”), which shall specify, with particularity, (a) the location, approximate Net Rentable Area and configuration of the portions of the Leased Premises (excluding any Short Term Expansion Space) and/or portions of the premises leased under Continuing Term Separate Leases (excluding any Short Term Expansion Space) that Tenant desires to vacate and to terminate this Lease and/or a Continuing Term Separate Lease with respect to (such space, the “Contraction Premises”), (b) whether Tenant desires to exercise its Contraction Rights for the Contraction Premises as a Relocation Right, an Early Termination Right or a Termination Right or a combination thereof (and, if a combination, the Net Rentable Areas covered by each such form of Contraction Right), (c) the approximate date on which Tenant shall vacate and surrender possession of the Contraction Premises to Landlord, which date shall be no earlier than sixty (60) days following the date of Tenant’s Contraction Rights Exercise Notice for Relocation Rights and Termination RightsRights and no earlier than fifty-six (56) months following the date of Tenant’s Contraction Rights Exercise Notice for Early Termination Rights (except that a Tenant’s Contraction Rights Exercise Notice for Early Termination Rights effective as of the last day of the second Lease Year may be given up to one hundred twenty (120) days prior to the desired vacation and surrender date), and (d) Tenant’s determination of the reduction in Rent payable under this Lease and/or Continuing Term Separate Leases that will result from Tenant’s desired surrender of the Contraction PremisesPremises and (e) for Early Termination Rights only, the required Early Termination Fee. If Tenant’s Contraction Rights Exercise Notice indicates that Tenant desires to exercise a Relocation Right and, on the date of the Contraction Rights Exercise Notice, Tenant does not have available Relocation Rights sufficient to cover the Net Rentable Area of the Contraction Premises to be terminated by Relocation Rights, Tenant’s Contraction Rights Exercise Notice shall nevertheless be effective as to the entire Contraction Premises identified therein and Tenant shall vacate and surrender possession of such entire Contraction Premises to Landlord, but, on the Contraction Premises Surrender Date, Tenant’s obligation to pay Rent on the Contraction Premises shall terminate as provided in Section 11.6 only as to the number of square feet of Net Rentable Area that Tenant has available Relocation Rights to cover and Tenant shall continue to pay Rent on (but, after the Contraction Premises Surrender Date, shall not have any possessory rights in) the excess portion of the Contraction Premises until the earlier of the date on which (i) Tenant generates the necessary Relocation Rights by adding sufficient additional Coterminous Expansion Space to the Leased Premises and beginning to pay Rent thereon or (ii) Tenant notifies Landlord in writing that Tenant desires to exercise available Termination Rights on the excess Contraction Premises. The approximate Net Rentable Area of the Contraction Premises shall be as identified by Tenant in Tenant’s Contraction Rights Exercise Notice, subject to final measurement by Landlord in conformity with the Measurement Standard. Tenant may exercise available Contraction Rights on whole or partial floors at any Property, as Tenant may elect; provided that if Tenant elects to exercise Contraction Rights on less than full floor in a Building, any such partial floor Contraction Premises shall have a size and configuration, as reasonably agreed by Landlord and Tenant, that makes it readily leaseable to third party tenants.

Contraction Rights Exercise Notice. Tenant shall exercise a Contraction Right by written notice to Landlord (any such notice, a “"Contraction Rights Exercise Notice”"), which shall specify, with particularity, (a) the location, approximate Net Rentable Area and configuration of the portions of the Leased Premises (excluding any Short Term Expansion Space) and/or portions of the premises leased under Continuing Term Separate Leases (excluding any Short Term Expansion Space) that Tenant desires to vacate and to terminate this Lease and/or a Continuing Term Separate Lease with respect to (such space, the “Contraction "Vacate Premises”"), (b) the approximate date on which Tenant shall vacate and surrender possession of the Vacate Premises to Landlord, which date shall be no earlier than six (6) months following the date of Tenant's Contraction Rights Exercise Notice, (c) whether Tenant desires to exercise its Contraction Rights for the Contraction Vacate Premises as a Relocation Right or a Termination Right or a combination thereof (and, if a combination, the Net Rentable Areas covered by each such form of Contraction Right), (c) the approximate date on which Tenant shall vacate and surrender possession of the Contraction Premises to Landlord, which date shall be no earlier than sixty (60) days following the date of Tenant’s Contraction Rights Exercise Notice for Relocation Rights and Termination Rights, and (d) Tenant’s 's determination of the reduction in Rent payable under this Lease and/or Continuing Term Separate Leases that will result from Tenant’s 's desired surrender of the Contraction Vacate Premises. If Tenant’s 's Contraction Rights Exercise Notice indicates that Tenant desires to exercise a Relocation Right and, on the date of the Contraction Rights Exercise Notice, Tenant does not have available Relocation Rights sufficient to cover the Net Rentable Area of the Contraction Vacate Premises to be terminated by Relocation Rights, Tenant’s 's Contraction Rights Exercise Notice shall nevertheless be effective as to the entire Contraction Vacate Premises identified therein and Tenant shall vacate and surrender possession of such entire Contraction Vacate Premises to Landlord, but, on the Contraction Vacate Premises Surrender Date, Tenant’s 's obligation to pay Rent on the Contraction Vacate Premises shall terminate as provided in Section 11.6 11.5 only as to the number of square feet of Net Rentable Area that Tenant has available Relocation Rights to cover and Tenant shall continue to pay Rent on (but, after the Contraction Vacate Premises Surrender Date, shall not have any possessory rights in) the excess portion of the Contraction Vacate Premises until the earlier of the date on which (i) Tenant generates the necessary Relocation Rights by adding sufficient additional Coterminous Expansion Space to the Leased Premises and beginning to pay Rent thereon or (ii) Tenant notifies Landlord in writing that Tenant desires to exercise available Termination Rights on the excess Contraction Vacate Premises. The approximate Net Rentable Area of the Contraction Vacate Premises shall be as identified by Tenant in Tenant’s 's Contraction Rights Exercise Notice, subject to final measurement by Landlord in conformity with the Measurement Standard. Tenant may exercise available Contraction Rights on whole or partial floors at any PropertyProject, as Tenant may elect; provided that if Tenant elects to exercise Contraction Rights on less than full floor in a Building, any such partial floor Contraction Vacate Premises shall have a size and configuration, as reasonably agreed by Landlord and Tenant, that makes it readily leaseable to third party tenants.