Common use of Term of Sublease Clause in Contracts

Term of Sublease. The term of this Sublease ("Term") shall commence on the latest to occur of (the "Commencement Date") (i) November 5, 2002, and (ii) the date on which Sublessor has received Lessor's written consent to an executed Sublease ("Lessor's Consent"), and shall end on August 31, 2009 ("Expiration Date"), unless this Sublease is sooner terminated pursuant to its terms or the Master Lease is sooner terminated pursuant to its terms. If Sublessor is unable to deliver possession of the Subleased Premises to Sublessee on or before October 15, 2002, then Sublessor shall not be subject to any liability therefor, nor shall such failure affect the validity of this Sublease, or the obligations of Sublessee hereunder, or extend the Term, but in such case, Sublessee shall not be obligated to pay Rent (as defined in Paragraph 4.B below) or perform any other obligation of Sublessee hereunder until Sublessor delivers possession of the Subleased Premises to Sublessee and a copy of the Lessor's Consent. Once the Commencement Date has been established, Sublessor and Sublessee shall execute a commencement date memorandum setting forth the Commencement Date; provided, however, that the failure to execute such a memorandum shall not affect Sublessee's liability hereunder. The parties acknowledge that Sublessee has no option to extend the Term of this Sublease.

Appears in 1 contract

Samples: Sublease Agreement (Digitalthink Inc)

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Term of Sublease. (a) The term of this Sublease ("the “Sublease Term") shall commence on the latest to occur of (the "Commencement Date") (i) November 5, 2002, and (ii) the date on which Sublessor that Landlord has received Lessor's issued its written consent to an executed this Sublease ("Lessor's Consent"the “Commencement Date”), which consent Sublandlord shall use good faith commercially reasonable efforts to obtain from Landlord prior to September 15, 2014. Unless sooner terminated as provided in this Sublease, the Sublease Term shall run coterminous with the Lease and shall end expire on August January 31, 2009 2017 ("the “Expiration Date"), unless this Sublease is sooner terminated pursuant to its terms or the Master Lease is sooner terminated pursuant to its terms. . (b) If Sublessor is unable to for any reason Sublandlord cannot deliver possession of the Subleased Premises to Sublessee Subtenant on or before October September 15, 20022014 as currently desired by the parties, then Sublessor Sublandlord shall not be subject to any liability therefor, nor shall Sublandlord be in default hereunder nor shall such failure affect the validity of this Sublease, or the obligations of Sublessee hereunder, or extend the Term, but in such case, Sublessee shall not be obligated and Subtenant agrees to pay Rent (as defined in Paragraph 4.B below) or perform any other obligation of Sublessee hereunder until Sublessor delivers accept possession of the Subleased Premises at such time as Sublandlord is able to Sublessee and a copy of deliver the Lessor's Consent. Once same, which date shall then be deemed the Commencement Date provided that Landlord has been establishedissued its written consent to this Sublease. Notwithstanding the foregoing, Sublessor and Sublessee shall execute a commencement date memorandum setting forth in the event that the Commencement Date; providedDate does not occur by October 31, however2014, that the failure then Subtenant shall be entitled by notice in writing to execute such a memorandum shall not affect Sublessee's liability hereunder. The parties acknowledge that Sublessee has no option Sublandlord within ten (10) days thereafter to extend the Term of cancel this Sublease, in which event the parties shall be discharged from all obligations hereunder.

Appears in 1 contract

Samples: Sublease Agreement (Atara Biotherapeutics, Inc.)

Term of Sublease. A. The term of this Sublease ("Term") of this Sublease shall commence on the latest to occur of date first written above (the "Sublease Commencement Date") and, unless sooner terminated as herein provided, shall expire on the Expiration Date. B. Sublandlord shall have the right to terminate this Sublease at any time during the Term upon prior written notice to Subtenant, which termination shall become effective on the date that is no more than 90 days, and no less than 80 days following the delivery of such notice by Sublandlord, provided, that Sublandlord shall have no right to terminate this Sublease under this Section 4B if (a) Sublandlord would remain the lessee of the Premises following such termination for the balance of the term of the Prime Lease and (b) the purpose of such termination is to replace Subtenant with another subtenant, which will operate the Facility. Upon the effectiveness of any such termination, provided, that, (i) November 5Subtenant shall have timely complied with its obligations under Section 24, 2002, and (ii) the date on which Sublessor has received Lessor's written consent to an executed Sublease ("Lessor's Consent"), and Subtenant shall end on August 31, 2009 ("Expiration Date"), unless this Sublease is sooner terminated pursuant to its terms or the Master Lease is sooner terminated pursuant to its terms. If Sublessor is unable to deliver have timely delivered possession of the Subleased Premises and Equipment to Sublessee on or before October 15, 2002Sublandlord and (iii) no default shall have occurred and be continuing, then Sublessor in such event Sublandlord shall not be subject pay to Subtenant a sublease termination fee in an amount equal to the monthly installments of Fixed Rent for the two calendar months preceding the delivery of such notice. Without limiting any liability thereforof the foregoing, nor shall such failure affect the validity upon any termination of this SubleaseSublease pursuant to this section, or the obligations provisions of Sublessee hereunder, or extend Section 24 regarding transfer of operations at the Term, but in such case, Sublessee Premises from Subtenant to Sublandlord shall not be obligated to pay Rent (as defined in Paragraph 4.B below) or perform any other obligation of Sublessee hereunder until Sublessor delivers possession of the Subleased Premises to Sublessee and a copy of the Lessor's Consent. Once the Commencement Date has been established, Sublessor and Sublessee shall execute a commencement date memorandum setting forth the Commencement Date; provided, however, that the failure to execute such a memorandum shall not affect Sublessee's liability hereunder. The parties acknowledge that Sublessee has no option to extend the Term of this Subleaseautomatically apply.

Appears in 1 contract

Samples: Operations Transfer Agreement (Kindred Healthcare Inc)

Term of Sublease. 2.1 The term of this Sublease ("Sublease Term") shall will commence on the latest to occur of (the "Sublease Commencement Date") the earlier of (i) November 5August 1, 2002, and 2003 or (ii) the date on which Sublessor has received Lessor's written consent to an executed Sublease ("Lessor's Consent"), and shall end on August 31, 2009 ("Expiration Date"), unless this Sublease is sooner terminated pursuant to its terms or the Master Lease is sooner terminated pursuant to its terms. If Sublessor is unable to deliver possession of the Subleased Premises to Sublessee on or before October 15, 2002, then Sublessor shall not be subject to any liability therefor, nor shall such failure affect the validity of this Sublease, or the obligations of Sublessee hereunder, or extend the Term, but in such case, Sublessee shall not be obligated to pay Rent Substantial Completion (as defined in Paragraph 4.B belowthe Prime Lease) or perform any other obligation of Sublessee hereunder until Sublessor delivers possession of the Subleased Premises to Sublessee and a copy of the LessorSubtenant's Consent. Once the Commencement Date has been established, Sublessor and Sublessee shall execute a commencement date memorandum setting forth the Commencement DateImprovements (as defined below); provided, however, that if the failure conditions precedent that are set forth in Sections 8.1 and 8.2 below are not satisfied within fifteen days of the date this Sublease has been executed by both Sublandlord and Subtenant, then the date of August 1, 2003 that is set forth in (i) above shall be extended one day for each day that elapses until the conditions precedent have been satisfied, up to execute such a memorandum maximum of 16 days; and provided, further, that if either Landlord or Tenant fails to act on Subtenant's proposed space plan or final plans within the time lines specified in the Prime Lease, then the date of August 1, 2003 that is set forth in (i) above shall not affect Sublesseebe extended one day for each day that elapses until both Landlord and Tenant have acted on Subtenant's liability hereunderProposed space plan or final plans, as the case may be. The parties acknowledge that Sublessee has no option to extend Unless earlier terminated in accordance with the Term terms and conditions of this Sublease, the Sublease Term shall expire with respect to the entire Subleased Premises at 11:59 p.m. on April 29, 2011. If the Commencement Date is a day other than August 1, 2003, the parties shall promptly sign an amendment to this Sublease confirming the Commencement Date. Subtenant shall have access to the Subleased Premises for the purposes of constructing Subtenant's Improvements and for installation of furniture and equipment from and after the date that the conditions precedent that are set forth in Section 8.1 below are satisfied, and all of the terms and conditions of this Sublease shall apply from and after that date except for payment of Rent. 2.2 Subtenant will have a one time right to terminate this Sublease without cause ("Termination Right") by providing Sublandlord with written notice of termination on or before the first day of the 48th month ("Notice Date") of the Sublease Term and paying the Early Termination Fee described below prior to the Early Termination Date (as that term is defined below). If Subtenant properly exercises the Termination Right then: (a) the termination will become effective upon the last day of the 59th month of the Sublease Term ("Early Termination Date"), and (b) prior to the Early Termination Date, Subtenant shall pay an early termination fee equal to the sum of the then-unamortized portions of the Subtenant Improvement Allowance and Architectural Allowance ("Early Termination Fee"). In the event that Subtenant fails to exercise the Termination Right by the Notice Date, or exercises the Termination Right by the Notice Date but fails to pay the Early Termination Fee prior to the Early Termination Date, then the Termination Right and the effectiveness of any notice given by Subtenant exercising the Termination Right shall expire and be of no further force or effect; provided, however, that if Subtenant exercises the Termination Right by the Notice Date but fails to pay the Early Termination Fee prior to the Early Termination Date, then Sublandlord shall have the right, but not the obligation, to accept the early termination of the Sublease Term and to recover from Subtenant Sublandlord's losses, costs and damages arising out of Subtenant's failure to timely pay the Early Termination Fee, including, but not limited to, interest at the Maximum Rate. 2.3 Sublandlord agrees to waive its renewal rights under the Prime Lease with respect to the Subleased Premises until the earlier of: (a) Subtenant's failure to provide written notice to Sublandlord prior to the expiration of the end of the 80th month of the term of this Sublease that Subtenant intends to enter into a direct lease for the Subleased Premises upon the expiration of this Sublease, (b) the termination of this Sublease prior to the expiration of the Subleased Term, or (c) an event of default by Subtenant under this Sublease.

Appears in 1 contract

Samples: Sublease Agreement (Blue Nile Inc)

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Term of Sublease. The Subject to the provisions of Section 13.u below, the term of this Sublease ("the “Term") shall commence on the latest to occur of (the "Commencement Date") (i) November 5, 2002, and (ii) the date on which Sublessor has received Lessor's written consent to an executed Sublease ("Lessor's Consent"), and shall end on August 31, 2009 ("Expiration Date"), unless this Sublease is sooner terminated pursuant to its terms or the Master Lease is sooner terminated pursuant to its terms. If Sublessor is unable to deliver possession of the Subleased Premises to Sublessee on or before October 15, 2002, then Sublessor shall not be subject to any liability therefor, nor shall such failure affect the validity of this Sublease, or the obligations of Sublessee hereunder, or extend the Term, but in such case, Sublessee shall not be obligated to pay Rent (as defined in Paragraph 4.B below) or perform any other obligation of Sublessee hereunder until Sublessor delivers possession of the Subleased Premises to Sublessee in the condition set forth in Section 2 hereof free of all tenants and a copy of occupants (the Lessor's Consent“Sublease Commencement Date”), which is anticipated to occur on the date Landlord executes and delivers its consent to this Sublease (the “Anticipated Sublease Commencement Date”) and shall expire on April 30, 2012 (the “Sublease Expiration Date”) unless sooner terminated as hereinafter provided. Once If the Sublease Commencement Date has been establishednot occurred on or before thirty (30) days after the Anticipated Sublease Commencement Date, Sublessor and Sublessee shall execute a commencement date memorandum setting forth have the Commencement Dateright to terminate this Sublease by written notice to Sublessor to be delivered no later than ten (10) days after the expiration of such 30-day period, in which case Sublessor shall promptly return the full amount of the Security Deposit to Sublessee; provided, however, that if the failure to execute Sublease Commencement Date shall occur before any such a memorandum Sublessee notice, Sublessee shall not affect Sublessee's liability hereunder. The parties acknowledge that Sublessee has no option thereafter have the right to extend the Term of so terminate this Sublease.

Appears in 1 contract

Samples: Sublease Agreement (Aveo Pharmaceuticals Inc)

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