Examples of Option Exercise Notice in a sentence
In the event that Tenant shall reject or fail to affirmatively accept the Option Rent set forth in the Option Rent Notice, or if Tenant did not deliver the Option Interest Notice but delivered the Option Exercise Notice on or before the Option Exercise Date, the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.2.4, below.
In the event Tenant fails to affirmatively accept or if Tenant timely objects to Landlord’s determination of the Option Rent, or, in the event that Tenant failed to deliver the Option Interest Notice but timely delivered the Option Exercise Notice, or if Landlord and Tenant are determining the First Offer Rent in accordance with the terms of Section 1.3, above, Landlord and Tenant shall attempt to agree upon the Market Rent using reasonable good-faith efforts.