Common use of Lease Contingency Clause in Contracts

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. 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 tenantTenant. 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 tenant 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. 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, 2024Date, either Landlord or Master Tenant may terminate this Lease by giving written notice of termination to the other partyparty Upon the giving of such notice of termination, this Lease shall terminate without liability of either party to the other.

Lease Contingency. This Following the Term Commencement Date, Tenant shall cause to be prepared and submitted to Landlord plans and specifications for the initial development of the Premises necessary for Tenant to conduct the Permitted Use (“Tenant’s Work”). Tenant shall not be required to obtain Landlord’s approval of the plans and specification for Tenant’s Work, however, Xxxxxx agrees that Tenant’s Work shall comply with all applicable laws, statutes, ordinances, codes and regulations. Notwithstanding anything contained herein to the contrary, Landlord and Tenant acknowledge that this Lease is contingent on upon Tenant obtaining all permits and approvals from all applicable governmental authorities to perform Tenant’s Work and to use the Master Tenant submitting Premises for the necessary applications Permitted Use (collectively, “Tenant’s Approvals”). Tenant, at its sole cost and documents expense, hereby agrees to apply for Xxxxxx’s Approvals promptly following the execution of this Lease and to diligently pursue acquisition of same, using its commercially reasonable efforts. Xxxxxx agrees to provide Xxxxxxxx written notice immediately upon receipt of Xxxxxx’s Approvals. Notwithstanding anything contained herein 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 terminationcontrary, this Lease shall terminate without liability is contingent upon Xxxxxx’s receipt of either party to Tenant’s Approvals on or before the other. This Lease day that is also contingent on Master Tenant and a Subtenant having executed a binding initial Sublease for any portion of one (1) year following the Premises and occupancy by Subtenants Term Commencement Date (the “ContingencyApprovals Contingency Deadline”). If Tenant determines that Tenant will not be able to obtain Tenant’s Approvals by the Approvals Contingency has not been satisfied or waived by Deadline, then Tenant shall have the right to terminate this Lease upon written notice to Landlord delivered on or before the date twelve (12) months following the Effective Date January 1, 2024, either Landlord or Master Tenant may terminate Approvals Contingency Deadline and this Lease by giving written notice shall become null and void and of termination to the other partyno further force and effect.

Lease Contingency. This Lease is contingent on the Master Tenant submitting the necessary applications and documents Notwithstanding anything to the Town for approval of contrary herein, Landlord shall have the improvements right, in its sole and use of the propertyabsolute discretion, 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 to terminate this Agreement shall be construed to compel the Town to approve or make any findings Lease with respect to Planning Approvals. If Master Xxxxxx is unable to obtain Planning Approvals, either all or part of the Land in accordance with the terms and conditions herein described: (a) Landlord or Master Tenant may terminate the Lease with respect to the Block 167 Premises only, upon written notice to Tenant, if, by the expiration of the Inspection Period, Tenant has not entered into the UT 167 Sublease or a UT Building Lease with UT System for the Block 167 Improvements; provided, however, such termination right shall not be applicable if Tenant has assigned its rights and obligations under this Lease by giving to UT System with regard to the Block 167 Premises or with regard to all of the Land. Tenant will provide Landlord with formal notice of any assignment and confirmation of U.T’s acceptance of such assignment or execution of the UT Building Lease and the UT 167 Sublease, whichever is applicable, and a copy of any documents evidencing the assignment or executed UT Sublease before the expiration of Inspection Period. (b) Landlord may terminate the Lease with respect to the Block 164 Premises only, upon written notice to Tenant, if, by the expiration of the Inspection Period, Tenant has not entered into a UT Building Lease for such New Improvements; provided, however, such termination right shall not be applicable if Tenant has assigned its rights and obligations under this Lease to UT System with regard to the other partyBlock 164 Premises or with regard to all of the Land. Upon the giving Formal notice of such notice assignment and acceptance thereof by UT System will be provided to Landlord before the Inspection Period ends. Tenant will provide Landlord with confirmation of terminationexecution of the UT Building Lease for the Block 164 Premises and a copy of such executed UT Building Lease before the expiration of Inspection Period. To be valid, this Lease shall terminate without liability of either party Landlord’s termination right must be exercised, if at all, with respect to the other. This Lease is also contingent on Master Tenant and a Subtenant having executed a binding initial Sublease for any portion Block 164 Premises or the Block 167 Premises, as applicable, not later than thirty (30) days after the expiration of the Premises and occupancy Inspection Period 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 partyTenant.