Substitute Premises. Library reserves the right to relocate Tenant, upon sixty (60) days prior notice, to any other substantially similar space within the Building, and Library shall pay Tenant’s reasonable moving expenses associated with such relocation. If Tenant deems such Substitute Premises unsatisfactory, Tenant reserves the right to terminate this Lease by written notice to Library prior to the expiration of such 60-day period.
Substitute Premises. The “Substitute Premises” shall mean a parcel of land located by itself on a separate tax parcel with a completed building constructed thereon, with respect to which a certificate of occupancy has been issued and all other licenses and permits have been received, provided, however, that such land and building shall have a then-current appraised value at least equal to the current appraised value of the Premises (or in the case of damage or destruction the anticipated appraised value of the building) upon completion of the Building. Notwithstanding the immediately preceding sentence, the Substitute Premises shall not be required to be located in the same state as the Premises if Master Tenant pays to or for the benefit of Landlord all costs and expenses incurred by Landlord and Fee Mortgagee in connection with the acquisition and ownership of such property which would not have been incurred had the Substitute Premises been located in the same state as the Premises.
Substitute Premises. If the Premises contain an area of 2,500 rentable square feet or less, Landlord shall have the right at any time during the term hereof, upon giving Tenant not less than sixty (60) days prior written notice, to provide and furnish Tenant with space elsewhere in the Building of approximately the same size as the Premises and remove and place Tenant in such space, with Landlord to pay all reasonable costs and expenses incurred as a result of such relocation of Tenant. Should Tenant refuse to permit Landlord to move Tenant to such new space at the end of said sixty (60) day period, Landlord shall have the right to cancel and terminate this Lease effective ninety (90) days from the date of original notification by Landlord. If Landlord moves Tenant to such new space, this Lease and each and all of its terms, covenants and conditions shall remain in full force and effect and be deemed applicable to such new space, and such new space shall thereafter be deemed to be the Premises as though Landlord and Tenant entered into an express written amendment of this Lease with respect thereto.
Substitute Premises. Landlord shall have the right at any time after full execution and delivery of this Lease, upon giving Tenant not less than sixty (60) days prior notice, to provide and furnish Tenant with space elsewhere in the Project (provided that in the event that the Project is a part of a multi-building development, such space may be located anywhere in such development) of approximately the same size as the Premises and remove and place Tenant in such space, with Landlord to pay all verified and previously approved costs and expenses incurred as a result of such movement to such new space. If Landlord moves Tenant to such new space, this Lease and each and all of its terms, covenants and conditions shall remain in full force and effect and shall be deemed applicable to such new space and such new space shall thereafter be deemed to be the "Premises" as though Landlord and Tenant had entered into an express written amendment of this Lease with respect thereto. Tenant shall surrender and vacate the then current Premises for which Landlord has exercised this right when required hereunder and in accordance with Article 29, and any failure to do so shall be subject to Article 5, time being of the essence.
Substitute Premises. Prior to the Commencement Date or at any time during the Term or any extension of this Lease but in no event during the last twelve (12) months of the Term, Landlord, at its option, may substitute for the Premises other space in the Building (hereafter called “Substitute Premises”). Insofar as reasonably possible, the Substitute Premises shall be of comparable quality and shall have a comparable square foot area and a configuration substantially similar to the Premises. Landlord shall give Tenant at least one hundred twenty (120) days notice of its intention to relocate Tenant to the Substitute Premises. This notice will be accompanied by a floor plan of the Substitute Premises. After such notice, Tenant shall have ten (10) days within which to agree with Landlord on the proposed Substitute Premises and unless such agreement is reached within such period of time, Landlord may terminate this Lease at the end of the 120-day period of time following the notice; provided, however, should Landlord fail to terminate the Lease within ten (10) days following the expiration of the 120-day period, then: (i) Landlord shall be deemed to have forfeited its right to terminate the Lease pursuant to this paragraph; (ii) Tenant shall have no obligation to relocate to the Substitute Premises; and (iii) the Lease will continue in full force and effect with respect to the Premises.
Substitute Premises. Tenant shall have the right, from time to time, to substitute a property for any one of the Premises (collectively, “Substitute Premises”) on the terms and conditions set forth below provided that Tenant, at Tenant’s sole cost and expense (except with respect to costs and expenses relating to Clauses (xiii), (xiv) and (xv), which shall be borne by Landlord and for which Landlord shall be required to provide satisfactory evidence to Landlord’s Mortgagee (defined below) of Landlord’s ability to pay such costs as a condition to such substitution, failure of which shall not constitute a default by Landlord under this Lease, but shall give Tenant the option to pay for such costs and expenses and if so paid by Tenant, Tenant shall have the right to offset on the next Increase Date (and on subsequent Annual Rent payment dates if necessary) any amount so paid plus interest at the rate set forth in Section 17.03 only from the amount by which the Annual Rent is increased on such Increase Date pursuant to Section 6.02), delivers to Landlord and any mortgagee or beneficiary of Landlord (“Landlord’s Mortgagee”) all of the following:
(i) Written notice of Tenant’s election to provide a Substitute Premises (a “Substitution Notice”) at least sixty (60) days prior to the date on which the substitution transaction is to close (the “Substitution Date”). Such Substitution Notice shall identify the Substitute Premises, the Premises for which the Substitute Premises is offered as a substitute and the scheduled Substitution Date;
(ii) On or prior to the date that is twenty (20) days prior to the Substitution Date, an appraisal by an independent appraisal firm which is a member of the American Institute of Real Estate Appraisers of the National Association of Realtors, with at least ten years’ experience in the valuation of commercial real estate in the metropolitan area in which the Substitute Premises is located and otherwise who is reasonably acceptable to the Landlord and the Landlord’s Mortgagee (x) indicating that the fair market value of the Substitute Premises (taking into account utility and the remaining useful life of the land and improvements as if encumbered by this Lease and as vacant assuming a use comparable to Tenant’s use of the Premises) (the “Substitute Premises Value”) is not less than the fair market value of the Premises (taking into account utility and the remaining useful life of the land and improvements constituting the Premises as encumbered by this Le...
Substitute Premises. Landlord shall have the right at any time during the Term hereof, upon giving Tenant not less than sixty (60) days prior notice, to provide and furnish Tenant with space elsewhere in the Project of approximately the same size as the Premises and remove and place Tenant in such space, with Landlord to pay all verified and previously approved costs and expenses incurred as a result of such movement to such new space. If Landlord moves Tenant to such new space, this Lease and each and all of its terms, covenants and conditions shall remain in full force and effect and shall be deemed applicable to such new space and such new space shall thereafter be deemed to be the "Premises" as though Landlord and Tenant had entered into an express written amendment of this Lease with respect thereto.
Substitute Premises. Landlord shall have the right at any time during the term hereof, upon giving Tenant not less than sixty (60) days prior written notice, to provide and furnish Tenant with space elsewhere in the Building of approximately the same size as the Premises and remove and place Tenant in such space with Landlord to pay all reasonable costs and expenses incurred as a result of such removal of Tenant. Should Tenant refuse to permit Landlord to move Tenant to such new space at the end of said sixty (60) day period, Landlord shall have the right to cancel and terminate this Lease effective ninety (90) days from the date of original notification by Landlord. If Landlord moves Tenant to such new space, this Lease and each and all of its terms, covenants and conditions shall remain in full force and effect and be deemed applicable to such new space, and such new space shall thereafter be deemed to be the Premises as though Landlord and Tenant had entered into an express written amendment of this Lease with respect thereto.
Substitute Premises. 28 (s) Survival of Obligations....................................................................28 (t) Confidentiality............................................................................28 (u) Governing Law..............................................................................28 (v) Exhibits and Addendum......................................................................28 (w)
Substitute Premises. Landlord may, at Landlord’s option, before or after the Commencement Date, elect by giving ninety (90) days prior written notice to Tenant to substitute for the Premises other office space in the Building or the Stonebriar Office Park in which the Building is located (the “Substitute Premises”) designated by Landlord, provided that the Substitute Premises contain approximately the same number of Rentable Square Feet as the Premises and have a configuration and amenities substantially similar to that of the Premises. Landlord’s notice will be accompanied by a plan of the Substitute Premises, and such notice or plan will set forth the number of Rental Square Feet contained in the Substitute Premises. Tenant will vacate and surrender the Premises and will occupy the Substitute Premises promptly [and, in any event, not later than fifteen (15) days] after Landlord has substantially completed the work to be performed by Landlord in the Substitute Premises pursuant to Section 19.3
