Early Termination Right. Tenant shall have the right to terminate the Term of this Lease with respect to the original Premises only (“Termination Right”) at the expiration of the 84th month after the Rent Commencement Date (the “Early Termination Date”); provided, however, that Tenant delivers to Landlord (a) a written notice (“Termination Notice”), of its election to exercise its Termination Right not less than 12 months prior to the Early Termination Date, and (b) concurrent with Tenant’s delivery to Landlord of the Termination Notice, an early termination payment in the amount of $1,920,000.00 (the “Early Termination Payment”). If Tenant timely and properly exercises the Termination Right and delivers to Landlord the Early Termination Payment, Tenant shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or before the Early Termination Date and Tenant shall have no further obligations under this Lease with respect to the original Premises except for those accruing prior to the Early Termination Date and those which, pursuant to the terms of this Lease, survive the expiration or early termination of this Lease. 0000 Xxxxxxxxxx/Erasca - Page 39
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Samples: Lease Agreement (Erasca, Inc.), Lease Agreement (Erasca, Inc.), Lease Agreement (Erasca, Inc.)
Early Termination Right. Tenant shall have the right right, subject to the provisions of this Section 39, to terminate the Term of this Lease with respect to the original Premises only (“Termination Right”) at with respect to the expiration entire Premises only as of the 84th month after the Rent Commencement Date July 31, 2021 (the “Early Termination Date”); provided, however, that so long as Tenant delivers to Landlord (a) a written notice (“Termination Notice”), of its election to exercise its Termination Right not no less than 12 months prior to in advance of the Early Termination Date, and (b) concurrent with Tenant’s delivery to Landlord of the Termination Notice, an early termination payment in the amount of $1,920,000.00 (the “Early Termination Payment”). If Tenant timely and properly exercises the Termination Right and delivers to Landlord the Early Termination PaymentRight, Tenant shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or before the Early Termination Date and Tenant shall have no further obligations under this Lease with respect to the original Premises except for those accruing prior to the Early Termination Date and those which, pursuant to the terms of this Lease, survive the expiration or early termination of this Lease. 0000 Xxxxxxxxxx/Erasca - Page 39If Tenant does not deliver to Landlord the Termination Notice within the time period provided in this paragraph, Tenant shall be deemed to have waived its Termination Right and the provisions of this Section 39 shall have no further force or effect.”
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Samples: Lease Agreement (ImmunityBio, Inc.)
Early Termination Right. Tenant shall have the right right, subject to the provisions of this Section 8, to terminate the Term of this Lease with respect to the original Premises only (“Termination Right”) at with respect to the expiration entire Premises only effective as of the 84th month after the Rent Commencement Date May 31, 2021 (the “Early Termination Date”); provided, however, that so long as Tenant delivers to Landlord (a) a written notice (“Termination Notice”), of its election to exercise its Termination Right not less later than 12 months prior to the Early Termination DateJune 1, 2020, and (b) concurrent with within 5 business days after Tenant’s delivery to Landlord of the Termination NoticeNotice to Landlord, an early termination payment in the amount of $1,920,000.00 316,408.84, which is equal to the Base Rent that would have been payable for the 4 month period following the Early Termination Date (collectively, the “Early Termination Payment”). If Tenant timely and properly exercises the Termination Right and delivers to Landlord the Early Termination PaymentPayment in accordance with this Section 8, Tenant shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this the Lease on or before the Early Termination Date and Tenant shall have no further obligations under this the Lease with respect to from and after the original Premises Early Termination Date except for those accruing prior to the Early Termination Date and those which, pursuant to the terms of this the Lease, survive the expiration or early termination of this the Lease. 0000 Xxxxxxxxxx/Erasca - Page 39Tenant may only exercise its Termination Right pursuant to this Section 8 if Tenant concurrently exercises its Termination Right (as defined in the 11065/11075 Lease (as defined in the Third Amendment)) under the 11065/11075 Lease.
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