Common use of Expansion Effective Date Clause in Contracts

Expansion Effective Date. As used herein, “Expansion Effective Date” means the later of (a) the Expansion Delivery Date, or (b) the earlier of (i) the date on which Tenant first conducts business in the Expansion Space, or (ii) April 1, 2016. As used herein, “Expansion Delivery Date” means the date on which Landlord tenders possession of the Expansion Space to Tenant free from any possessory interest of or occupancy by any other party. Landlord shall cause the Expansion Delivery Date to occur promptly after (i) Landlord’s recovery of possession of the Expansion Space from the current tenant thereof (the “Current Suite 300 Tenant”) or its successor in interest (it being acknowledged that the Current Suite 300 Tenant’s lease of the Expansion Space (the “Current Suite 300 Lease”) is scheduled to expire on March 31, 2016, subject to an existing extension option), and (ii) the passage of such time as may be reasonably required for Landlord to put the Expansion Space into the condition required hereunder. If the Current Suite 300 Tenant does not surrender possession of the Expansion Space on or before March 31, 2016, Landlord shall use commercially reasonable efforts to recover such possession as soon thereafter as reasonably possible (including, if necessary in Landlord’s reasonable judgment, by commencing and pursuing an unlawful detainer action). During the period, if any, beginning on the Expansion Delivery Date and ending on the date immediately preceding the Expansion Effective Date, all provisions of this Amendment relating to the Expansion Space (including the provisions hereof giving Tenant the right to possess the Expansion Space) shall apply to the Expansion Space as if the Expansion Effective Date had occurred; provided, however, that during such period Tenant shall not conduct business in, or be required to pay Monthly Rent for, the Expansion Space. If the Expansion Effective Date is delayed, no expiration date under the Lease, whether for the Existing Premises or the Expansion Space, shall be similarly extended.