Give Back Option Clause Samples
Give Back Option. Notwithstanding anything to the contrary contained in the Lease, if during the Expansion Space Term, Tenant leases the entirety of one or more floors in the Building (other than the Existing Premises or the Expansion Space) (such floor(s) referred to herein as the “Additional Expansion Space”), Tenant shall, upon at least thirty (30) days’ prior written notice to Landlord, have the one-time option, without penalty, to terminate the Lease with respect to the Expansion Space only, which termination shall be effective on the third (3rd) consecutive day after the date on which Tenant moves into the Additional Expansion Space, and Landlord and Tenant shall execute an amendment to the Lease memorializing the termination of the Expansion Space and the lease of the Additional Expansion Space on terms and conditions reasonably acceptable to both parties.
Give Back Option. If each of the conditions set forth in Section 6(a) (above) are satisfied, with respect to any reduction of a portion or all of the Premises in Building 4, the Parties will within thirty (30) days after Landlord’s receipt and written approval of such request from Tenant execute an amendment to the Lease in form and substance reasonably satisfactory to Landlord and on all the same terms and conditions set forth in the Lease, except that Tenant’s rental obligations under the Lease (including Tenant’s obligation to pay Minimum Rent, taxes and utilities) and Tenant’s right to utilize parking located on top of Building 4 will be reduced on a pro-rata basis to reflect the reduction in such square footage. Tenant shall deliver the Give Back space in the condition set forth in Section 13.17 of the Original Lease. For avoidance of doubt (and by way of example only), if Tenant properly utilizes the Give-Back Option to give back 50% of the Building 4 Premises, then, at Landlord’s option, Tenant will also be required to give back 50% of the total parking spaces located on top of Building 4, concurrently with the reduction of the Building 4 square footage; provided that the Parties agree to work in good faith to determine appropriate access to, and use of, any remaining parking spaces located on the rooftop of Building 4, recognizing the needs of both Landlord (with respect to parking for its intended use of any space that is given back in Building 4 pursuant to this Section 6) and Tenant (with respect to parking needed for its use of the remaining portion of the Premises that it will continue to occupy following any such give-back of a portion or all of Building 4).
Give Back Option