Common use of Termination or Abatement Clause in Contracts

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 5 contracts

Samples: Office Lease (Terns Pharmaceuticals, Inc.), Office Lease (Quotient Technology Inc.), Office Lease (Heritage Commerce Corp)

AutoNDA by SimpleDocs

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice to the other party (the "Nonterminating Party") within thirty (30) days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 2 contracts

Samples: Office Lease (Kronos Bio, Inc.), Office Lease (Kronos Bio, Inc.)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 Subsection 25.2.2 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Non-terminating Party”) within thirty (30) days after the nature and extent of the taking Taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Non-terminating Party of the date of termination, which date shall not be earlier than one hundred twenty sixty (12060) days after the Terminating Party has notified the Nonterminating Party of its election to terminate terminate, nor later than the date Date of takingTaking. If Notice such notice of Termination termination is not given within the Decision Period, the this Lease shall continue in full force and effect except that the Minimum Monthly Rent and Tenant’s Percentage Share shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction fraction, the numerator of which is the number of rentable square feet footage taken from the Leased Premises and the denominator of which is the number of rentable square feet footage in the Leased Premises prior to the takingTaking.

Appears in 2 contracts

Samples: Office Lease Agreement (Riverbed Technology, Inc.), Office Lease Agreement (Riverbed Technology, Inc.)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking, and Tenant’s Proportionate Share shall be reduced accordingly.

Appears in 2 contracts

Samples: Office Lease, Office Lease (Puma Biotechnology, Inc.)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 Subsection 24.2.2 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice to the other party (the "Nonterminating Party") within thirty twenty (3020) days after the nature and extent of the taking Taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating 36 37 Party of the date of termination, which date shall not be earlier than one hundred twenty sixty (12060) days after the Terminating Party has notified the Nonterminating Party of its election to terminate terminate, nor later than the date Date of takingTaking. If Notice such notice of Termination termination is not given within the Decision Period, the this Lease shall continue in full force and effect except that Minimum Monthly the Gross Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Gross Rent in effect prior to the taking Taking by a fraction the numerator of which is the number of square feet footage taken from the Leased Premises and the denominator of which is the number of square feet footage in the Leased Premises prior to the takingTaking.

Appears in 1 contract

Samples: Lease Agreement (Virage Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 24.3 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice to the other party (the "Nonterminating Party") within thirty (30) days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty sixty (12060) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Lease Agreement (Linuxcare Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 23.3 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice to the other party (the "Nonterminating Party") within thirty (30) days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty sixty (12060) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Business Park Net Lease (Innova Corporation)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Non-terminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Non-terminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Non-terminating Party of its election to terminate nor no later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet of Rentable Area taken from the Leased Premises and the denominator of which is the number of square feet of Rentable Area in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Lease Agreement (Fibrogen Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the Terminating PartyParty ”), it must terminate by giving notice to the other party (the Nonterminating PartyParty ”) within thirty (30) days after the nature and extent of the taking have been finally determined (the Decision PeriodPeriod ”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the this Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Office Lease (Webex Communications Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor or later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Office Lease (Insweb Corp)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 23,3 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice to the other party (the "Nonterminating Party") within thirty (30) days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty sixty (12060) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Sublease Agreement (Innova Corporation)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Base Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Base Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Office Lease (Biotie Therapies Corp.)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such 22.3(such party is hereinafter referred to as the "Terminating Party”), ") it must terminate by giving notice (the "Notice of Termination") to the other party (the “Nonterminating "Non terminating Party") within thirty (30) days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Non terminating Party of the date of termination, which date shall not be earlier than one hundred twenty sixty (12060) days after the Terminating Party has notified the Nonterminating Non terminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Sublease (Sangstat Medical Corp)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the this Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Office Lease (Sphere 3D Corp)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving Divco\Gateway/Tobira Lease notice to the other party (the “Nonterminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Office Lease (Tobira Therapeutics, Inc.)

AutoNDA by SimpleDocs

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice Notice to the other party (the “Nonterminating Party”) within thirty (30) 30 days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) sixty days after the Terminating Party has notified the Nonterminating Party given Notice of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that effect. The Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying computed as the Minimum Monthly Rent in effect prior to the taking by times a fraction of which the numerator of which is the number of square feet taken from remaining in the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Business Park Net Lease (Centillium Communications Inc)

Termination or Abatement. If either party elects to terminate this ------------------------ Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice Notice to the other party (the "Nonterminating Party") within thirty (30) 30 days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) sixty days after the Terminating Party has notified the Nonterminating Party given Notice of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that effect. The Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying computed as the Minimum Monthly Rent in effect prior to the taking by times a fraction of which the numerator of which is the number of square feet taken from remaining in the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Business Park Net Lease (Centillium Communications Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 24.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty sixty (12060) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent and additional Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent and additional Rent in effect prior to the taking by a fraction fraction, the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Net Office Lease (Itex Corp)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”"TERMINATING PARTY"), it must terminate by giving notice Notice to the other party (the “Nonterminating Party”"NONTERMINATING PARTY") within thirty (30) 30 days after the nature and extent of the taking have been finally determined (the “Decision Period”"DECISION PERIOD"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) sixty days after the Terminating Party has notified the Nonterminating Party given Notice of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that effect. The Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying computed as the Minimum Monthly Rent in effect prior to the taking by times a fraction of which the numerator of which is the number of square feet taken from remaining in the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Business Park Net Lease (Opnext Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice to the other party (the "Nonterminating Party") within thirty (30) days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Office Lease (Witness Systems Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating Party”), it must terminate by giving notice to the other party (the “Nonterminating Party”) within thirty (30) days after the nature and extent of the taking have been finally determined (the “Decision Period”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within with the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet of Rentable Area taken from the Leased Premises and the denominator of which is the number of square feet of Rentable Area in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Office Lease (Artisoft Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 24.3 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice to the other party (the "Nonterminating Party") within thirty (30) days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty sixty (12060) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date Date of takingTaking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Triple Net Lease (MCB Financial Corp)

Termination or Abatement. If either party elects to terminate this ------------------------ Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the "Terminating Party"), it must terminate by giving notice to the other party (the "Nonterminating Party") within thirty (30) days after the nature and extent of the taking have been finally determined (the "Decision Period"). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) days after the Terminating Party has notified the Nonterminating Party of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying the Minimum Monthly Rent in effect prior to the taking by a fraction the numerator of which is the number of square feet taken from the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Office Lease (Blaze Software Inc)

Termination or Abatement. If either party elects to terminate this Lease under the provisions of Section 20.3 (such party is hereinafter referred to as the “Terminating PartyTERMINATING PARTY”), it must terminate by giving notice Notice to the other party (the “Nonterminating PartyNONTERMINATING PARTY”) within thirty (30) 30 days after the nature and extent of the taking have been finally determined (the “Decision PeriodDECISION PERIOD”). The Terminating Party shall notify the Nonterminating Party of the date of termination, which date shall not be earlier than one hundred twenty (120) sixty days after the Terminating Party has notified the Nonterminating Party given Notice of its election to terminate nor later than the date of taking. If Notice of Termination is not given within the Decision Period, the Lease shall continue in full force and effect except that effect. The Minimum Monthly Rent shall be reduced by subtracting therefrom an amount calculated by multiplying computed as the Minimum Monthly Rent in effect prior to the taking by times a fraction of which the numerator of which is the number of square feet taken from remaining in the Leased Premises and the denominator of which is the number of square feet in the Leased Premises prior to the taking.

Appears in 1 contract

Samples: Business Park Net Lease (Opnext Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!