Common use of Lease of Space Clause in Contracts

Lease of Space. (a) Commencing on and as of the Effective Date, and continuing on a month-to-month basis thereafter for the duration of the Initial Term, BDSI shall sublease to BND (the "Intercompany Lease") a portion of the real estate leased by BDSI at 000 Xxxxx Xxxxxx Xxxxxx, Administrative Building No. 4, Xxxxxx, XX 00000 (the "BDSI Leased Space"). The portions of the BDSI Leased Space subject to the Intercompany Lease may, depending on the occupancy requirements of BND, fluctuate from time to time during the term of the Intercompany Lease. On not less than a quarterly basis commencing with the calendar quarter beginning Xxxxx 0, 0000, XXXX and BND shall determine in good faith the portion of the BDSI Leased Space then occupied by BND (the "BND Occupied Space") for purposes of the payment obligations of BND set forth in Section 3(b) below.

Appears in 2 contracts

Samples: Management Services and Administrative Agreement (Bioral Nutrient Delivery LLC), Management Services and Administrative Agreement (Biodelivery Sciences International Inc)

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Lease of Space. (a) Commencing on and as of the Effective Date, and continuing on a month-to-month basis thereafter for the duration of the Initial Term, BDSI shall sublease to BND (the "Intercompany Lease") a portion of the real estate leased by BDSI at 000 Xxxxx Xxxxxx Xxxxxx185 South Orange Avenue, Administrative Building No. 4, XxxxxxNewark, XX 00000 NJ 07000 (the xxx "BDSI Leased SpaceXXXX Xxxxxx Xpace"). The portions of the BDSI Leased Space subject Xxxxxx Xxxxx xxxject to the Intercompany Lease may, depending on the occupancy requirements of BND, fluctuate from time to time during the term of the Intercompany Lease. On not less than a quarterly basis commencing with the calendar quarter beginning Xxxxx 0April 1, 00002003, XXXX BDSI and BND shall determine in good faith the portion of the BDSI Leased xx xxx XXXX Xxxxxx Space then occupied by BND (the "BND Occupied Space") for purposes of the payment obligations of BND set forth in Section 3(b) below.

Appears in 1 contract

Samples: Management Services and Administrative Agreement (Bioral Nutrient Delivery LLC)

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Lease of Space. (a) Commencing on and as of the Effective Date, and continuing on a month-to-month basis thereafter for the duration of the Initial Term, BDSI shall sublease to BND (the "Intercompany Lease") a portion of the real estate leased by BDSI at 000 Xxxxx Xxxxxx Xxxxxx185 South Orange Avenue, Administrative Building No. 4, XxxxxxNewark, XX 00000 NJ 07100 (the xxx "BDSI Leased SpaceXXXX Xxxxxx Xxace"). The portions of the BDSI Leased Space subject Lxxxxx Xxxxx xxxxect to the Intercompany Lease may, depending on the occupancy requirements of BND, fluctuate from time to time during the term of the Intercompany Lease. On not less than a quarterly basis commencing with the calendar quarter beginning Xxxxx 0April 1, 00002003, XXXX BDSI and BND shall determine in good faith the portion of the BDSI Leased xx xxx XXXX Xxxxxx Space then occupied by BND (the "BND Occupied Space") for purposes of the payment obligations of BND set forth in Section 3(b) below.

Appears in 1 contract

Samples: Management Services and Administrative Agreement (Bioral Nutrient Delivery LLC)

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