Examples of Offsite Project in a sentence
So long as Tenant’s right to lease the Offsite First Offer Space as set forth in this Section 1.4 remains in effect, Tenant and any affiliated entity shall not actively pursue acquisition of the Offsite Project, whether by itself or as an investor or participant with any third-party, nor otherwise actively cooperate with any prospective third-party in connection with the purchase, ground lease, master lease or investment in the Offsite Project.
The right of first offer granted herein shall terminate in its entirety upon (i) the transfer or sale of the Offsite Project by the current owner (i.e., the City) to any entity other than Offsite Landlord, (ii) the transfer or sale of the Project other than to an Offsite Landlord, or (iii) following Offsite Landlord’s acquisition of the Offsite Project, the transfer or sale of the Offsite Project (other than to another Offsite Landlord).
Likewise, if Landlord responds to Tenant’s inquiry that it is then using or continuing to use commercially reasonable efforts to pursue the Offsite Project but fails to achieve, within a reasonable period of time, any of the steps detailed in Landlord’s notice, then the TCCs of this Section 1.4.6 (and the parties’ respective obligations set forth herein) shall terminate.
In the event Landlord notifies Tenant that no Offsite Landlord is then pursuing acquisition of the Offsite Project, pursuant to the immediately preceding sentence, then the TCCs of this Section 1.4.6 (and the parties’ respective obligations set forth herein) shall terminate as of the date of Landlord’s notice.
Subject to the TCCs of this Section 1.4.6, Offsite Landlord and Tenant agree to mutually cooperate to work together in connection with Offsite Landlord’s efforts to acquire title to the Offsite Project and Offsite Landlord’s the proposed development of the Offsite Project for the benefit of Offsite Landlord with respect to Offsite Project.
The rentable square footage of any Offsite First Offer Space leased by Tenant shall be determined by Offsite Landlord in accordance with Offsite Landlord’s then current standard of measurement for the Offsite Project.
No later than December 1, 2012, cause the completion of the Offsite Project, including all applicable site testing, and provide evidence to the Administrative Agent, in form and substance reasonably satisfactory to it, that the new location is fully operational in all aspects as a redundant data center.