Lease Contingency. This Lease is contingent on the Master Tenant submitting the necessary applications and documents to the Town for approval of the improvements and use of the property, such as, but not limited to, general plan amendment, a proposed site plan, concept drawings for the site plan, massing diagrams, and renderings identifying the location, general configuration, and proposed design characteristics of the buildings, parking spaces, landscaping, property subdivision, and other aspects of the improvement and uses. The Master Tenant acknowledges that the Project Proposal requires approvals and entitlements from the Town and shall submit a formal application for the Planning Approvals. Costs and fees associated with the Planning Approvals review shall be borne by the Master tenant. Nothing in this Agreement shall be construed to compel the Town to approve or make any findings with respect to Planning Approvals. If Master Xxxxxx is unable to obtain Planning Approvals, either Landlord or Master Tenant may terminate this Lease by giving written notice of termination to the other party. Upon the giving of such notice of termination, this Lease shall terminate without liability of either party to the other. This Lease is also contingent on Master Tenant and a Subtenant having executed a binding initial Sublease for any portion of the Premises and occupancy by Subtenants (the “Contingency”). If the Contingency has not been satisfied or waived by Landlord on or before the date twelve (12) months following the Effective Date January 1, 2024, either Landlord or Master Tenant may terminate this Lease by giving written notice of termination to the other party.
Lease Contingency. Simultaneously with the execution of this Lease, Tenant and an affiliate of Landlord (“Building A Landlord”) are entering into a lease for a building to be constructed on Parcel A of the Project (such building to be referred to as “Building A”, as such Parcel A is more particularly described on Exhibit 3.03(b), attached, and any such lease of Building A to be referred to as the “Building A Lease”). This Lease and the Building A Lease (together, the “Leases”) are each contingent upon the issuance of an “approval letter” by the Federal Drug Administration (the “FDA”) of Tenant’s new drug application for telaprevir as a so-called “listed drug”, as such terms are defined in 21 C.F.R 314.3 (the “Telaprevir Approval”). If the Telaprevir Approval is not issued by the FDA, or the FDA issues a written refusal to approve telaprevir, on or before December 31, 2011, then this Lease shall terminate and be of no further force and effect as of December 31, 2011 except for the obligations that expressly survive the termination hereof. [***]. [***].
Lease Contingency. Simultaneously with the execution of this Lease, Tenant and an affiliate of Landlord (“Building A Landlord”) are entering into a lease for a building to be constructed on Parcel A of the Project (such building to be referred to as “Building A”, as such Parcel A is more particularly described on Exhibit 3.03(b), attached, and any such lease of Building A to be referred to as the “Building A Lease”). This Lease and the Building A Lease (together, the “Leases”) are each contingent upon the issuance of an “approval letter” by the Federal Drug Administration (the “FDA”) of Tenant’s new drug application for telaprevir as a so-called “listed drug”, as such terms are defined in 21 C.F.R 314.3 (the “Telaprevir Approval”). If the Telaprevir Approval is not issued by the FDA, or the FDA issues a written refusal to approve telaprevir, on or before December 31, 2011, then this Lease shall terminate and be of no further force and effect as of December 31, 2011 except for the obligations that expressly survive the termination hereof. In the event that this Lease terminates pursuant to the immediately preceding paragraph, then Tenant shall reimburse Fan Pier Development LLC, an affiliate of Landlord, for the actual cost (without xxxx-up) of (i) fifty percent (50%) of all third party costs and expenses incurred by Fan Pier Development LLC in progressing the design of the Building and (ii) one hundred percent (100%) of all third party costs and expenses incurred by Fan Pier Development LLC in progressing the design of certain elements of Finish Work, including in each case without limitation the fees and expenses payable to the design team for the Building (collectively, “Reimbursable Expenditures”) prior to the execution of the Leases. Reimbursable Expenditures shall not exceed $3,379,700.00 as detailed on the schedule attached as Exhibit 2.01(g), which schedule reflects a budget of anticipated Reimbursable Expenditures with respect to the Building to (i) progress to the design through the 90% Construction Drawings/Permit Set plans, and (ii) progress the design of certain elements of Finish Work. Reimbursable Expenditures shall not include (i) the purchase of any construction materials, (ii) the performance of any construction activity, (iii) payment for any necessary governmental approvals including, but not limited to a building permit, or (iv) the cost of Landlord or its affiliates Fan Pier Development LLC or The Fallon Company, LLC’s overhead, personnel, legal and/or a...
Lease Contingency. This Sublease shall be contingent upon Sublessee executing a lease with Master Lessor on Suite 160 in the Building (the “Adjacent Premises”) until June 25, 2020. In the event Sublessee shall not have an executed lease for the Adjacent Premises on or before June 25, 2020, Sublessee shall have the one-time right to terminate this Sublease upon written notice to Sublessor. In the event such written notice is not delivered on or before June 25, 2020, time being of the essence, Sublessee hereby waives its rights pursuant to this Section 29(f).
Lease Contingency. This Lease is expressly contingent upon Lessee, in its sole discretion, obtaining all licenses, permits, easements and approvals necessary to operate Lessee's operations in accordance with Paragraph
3.1 ("Approvals"). If Lessee is unable to secure all Approvals from applicable governmental authorities, then Lessee shall have the option to terminate this Lease upon providing Lessor with written notice.
Lease Contingency. Lessee acknowledges that this Amendment is contingent upon the successful termination of the Prolumina LLC lease for the Suite 1420 Expansion Premises.
Lease Contingency. Notwithstanding that Landlord may execute this Lease, this Lease shall be contingent upon Landlord’s mortgagee’s approval and consent, and, if such approval and consent is not received from Landlord’s mortgagee, this Lease shall not be effective, and Landlord shall have no liability to Tenant for such non-approval and non-consent of Landlord’s mortgagee. In the event Landlord’s mortgagee does not approve and consent to this Lease within forty five (45) days after the Effective Date, Tenant shall have the right to terminate this Lease upon notice to Landlord.
Lease Contingency. Notwithstanding anything to the contrary contained herein, the effectiveness and commencement of this Lease is subject to approval, to the reasonable satisfaction of Tenant, of those certain Payroll Tax and Sales Tax incentives (the “Incentives”) by the Ohio Tax Credit Authority. The approval by the Ohio Tax Credit Authority of the Incentives described in that certain Letter dated November 28, 2011 from the Ohio Department of Development to Mr. Xxxx Xxxxxx (Chief Operating Office of Tenant) shall in all events be deemed satisfaction of this contingency, in which case Tenant shall have no right to terminate this Lease pursuant to this Section 4.1. Each party agrees promptly to execute and deliver any other documents or agreements required by such agencies for the completion of such incentive process. If approval of said Incentives in form and amount reasonably satisfactory to Tenant is not received on or before 12:00 noon on December 6, 2011, then Tenant, by written notice to Landlord, may cancel this Lease by written notice to Landlord delivered no later than 12:00 noon on December 6, 2011, in which case Landlord shall promptly return to Tenant all sums theretofore paid by Tenant hereunder.
Lease Contingency. It is acknowledged and agreed that Tenant shall have the right, at its option, to terminate this Lease upon written notice thereof to Landlord, in the event that, on or before January 1, 2003, Landlord has not obtained from the City of Coppell a formal tax abatement agreement or Section 380 agreement documenting the City of Coppell’s agreement to provide the economic incentives shown on that certain letter from the City of Coppell to Landlord as set out in Exhibit “K” to the Lease, which agreement shall be in form reasonably acceptable to Landlord and Tenant. In the event Tenant has not exercised its right to terminate this Lease pursuant to this Section 10 on or before January 15,2003, then Tenant’s right to terminate this Lease as aforesaid shall be deemed null and void and of no further force or effect.
Lease Contingency. Section 9 of the Special Stipulations is deleted in its entirety and is of no further force or effect.
