Common use of Suite 320 Expansion Space Contingency Clause in Contracts

Suite 320 Expansion Space Contingency. Notwithstanding any contrary provision hereof, if for any reason Landlord and INTEGRATED MEMORY LOGIC, INC., a California corporation (the “Other Party”), fail to mutually execute and deliver the Required Agreement (defined below) on or before October 20, 2014, Landlord may terminate the Suite 320 Provisions (defined below) by notifying Tenant on or before October 24, 2014, in which event (a) the Suite 320 Provisions, but no other provisions hereof, shall be void ab initio and of no force or effect, and (b) Section 1.8 of the Lease, as amended by Section 3 below, shall be amended by reducing the amount of $232,641.79 to $128,204.17, and Landlord shall promptly return to Tenant any portion of the Security Deposit then held by Landlord in excess of $128,204.17. As used herein, “Required Agreement” means a lease amendment between Landlord and the Other Party pursuant to which the Other Party agrees to accelerate the expiration date of its existing lease of the Suite 320 Expansion Space to a date occurring not later than October 31, 2014. As used herein, “Suite 320 Provisions” means all provisions of this Amendment relating to the Suite 320 Expansion Space, including clause (iii) of Recital B above, clause (c) of the first sentence of Section 1.2 above, clause (z) of the third sentence of Section 1.2 above, the fifth column of the schedule of Base Rent set forth in Section 2 below, Section 4.3 below, Exhibit A-3 attached hereto, and the references to “Suite 320” contained in Exhibit C attached hereto. Notwithstanding any contrary provision hereof, Landlord shall not be required, before October 24, 2014, to disburse any portion of the Allowance that is based upon the rentable square footage of the Suite 320 Expansion Space.