Common use of Leases and Leased Property Clause in Contracts

Leases and Leased Property. (a) Neither Sonus nor SonusSub is a party to or bound by or subject to nor has Sonus or SonusSub agreed or become bound to enter into, any real or personal property lease, sublease or other right of occupancy relating to real property, whether as lessor or lessee, except for the Sonus Leases described in Section 3.2.22 of the Sonus Disclosure Schedule, copies of which have been provided to OncoGenex prior to the date hereof. Sonus or SonusSub occupies and has the exclusive right to occupy and use all immovable Sonus Leased Property and has the exclusive right to use all movable Sonus Leased Property. (b) Each of the Leases is valid and subsisting and in good standing, all rental and other payments required to be paid by Sonus or SonusSub as lessee or sublessee and due and payable pursuant to each of the Sonus Leases have been duly paid to date and neither Sonus nor SonusSub is otherwise in default in meeting its obligations under any of the Sonus Leases and is entitled to all rights and benefits thereunder. No event exists which, but for the passing of time or the giving of notice, or both, would constitute a default by Sonus or SonusSub or, to the knowledge of Sonus, any other party to any of the Sonus Leases and no party to any of the Sonus Leases is claiming any such default or taking any action purportedly based upon any such default. The completion of the transactions contemplated herein will not, subject to obtaining any required consents set out in Section 3.2.22 of the Sonus Disclosure Schedule, afford any of the parties to any of the Sonus Leases or any other Person the right to terminate any of the Sonus Leases nor will the completion of the transactions contemplated herein result in any additional or more onerous obligation on Sonus or SonusSub under any of the Sonus Leases.

Leases and Leased Property. (a) Neither Sonus OncoGenex nor SonusSub OncoGenexSub is a party to or bound by or subject to nor has Sonus OncoGenex or SonusSub OncoGenexSub agreed or become bound to enter into, any real or personal property lease, sublease or other right of occupancy relating to real property, whether as lessor or lessee, except for the Sonus OncoGenex Leases described in Section 3.2.22 3.1.23 of the Sonus OncoGenex Disclosure Schedule, copies of which have been provided to OncoGenex Sonus prior to the date hereof. Sonus OncoGenex or SonusSub OncoGenexSub occupies and has the exclusive right to occupy and use all immovable Sonus OncoGenex Leased Property and has the exclusive right to use all movable Sonus OncoGenex Leased Property. (b) Each of the OncoGenex Leases is valid and subsisting and in good standing, all rental and other payments required to be paid by Sonus OncoGenex or SonusSub OncoGenexSub as lessee or sublessee and due and payable pursuant to each of the Sonus OncoGenex Leases have been duly paid to date and neither Sonus OncoGenex nor SonusSub OncoGenexSub is otherwise in default in meeting its obligations under any of the Sonus OncoGenex Leases and is entitled to all rights and benefits thereunder. No event exists which, but for the passing of time or the giving of notice, or both, would constitute a default by Sonus OncoGenex or SonusSub OncoGenexSub or, to the knowledge of SonusOncoGenex, any other party to any of the Sonus OncoGenex Leases and no party to any of the Sonus OncoGenex Leases is claiming any such default or taking any action purportedly based upon any such default. The completion of the transactions contemplated herein will not, subject to obtaining any required consents set out in Section 3.2.22 3.1.23 of the Sonus OncoGenex Disclosure Schedule, afford any of the parties to any of the Sonus OncoGenex Leases or any other Person the right to terminate any of the Sonus OncoGenex Leases nor will the completion of the transactions contemplated herein result in any additional or more onerous obligation on Sonus OncoGenex or SonusSub OncoGenexSub under any of the Sonus OncoGenex Leases.