Accelerated Expiration Date. (a) At any time after the Commencement Date, if all, but not less than all, of the Acceleration Conditions (as defined below) are satisfied, during the Accelerated Period (as defined below), the Company, in its sole discretion, may give a written notice (the “Accelerated Expiration Notice”) to the Holder specifying that the rights to exercise all or a specified part of this Warrant will expire on a date (the “Accelerated Expiration Date”) specified in the Accelerated Expiration Notice, provided that the date so specified shall be at least twenty (20) Trading Days after the date (the “Accelerated Expiration Notice Date”) on which the Company gives of the Accelerated Expiration Notice (but provided that the Holder actually receives such Accelerated Expiration Notice no later than the Trading Day immediately after such notice is given by the Company). Notwithstanding the foregoing, if the Acceleration Period Conditions (as defined below) are not satisfied during the period (the “Accelerated Period”) commencing on the Accelerated Expiration Notice Date through and including the Accelerated Expiration Date, the Accelerated Expiration Notice shall be deemed cancelled. (b) The Holder will continue to have the right to exercise this Warrant through and including the Accelerated Expiration Date, as determined in accordance with the provisions, but not thereafter. If the Accelerated Expiration Notice provides that less than all of the outstanding Warrant is subject to such acceleration, any exercise of the Warrant by the Holder on or after the Accelerated Expiration Notice Date shall be applied against such acceleration.7 (c) The term “Acceleration Determination Period” means the consecutive twenty (20) Trading Days ending on the Trading Day immediately before the Accelerated Expiration Notice Date.
Appears in 1 contract
Sources: Securities Purchase Agreement (American Security Resources Corp.)
Accelerated Expiration Date. Subject to the provisions hereof, the term of the Lease with respect to the entire Premises (as the same may have been extended with respect to the Temporary Expansion Space pursuant to Section 1.2 below) shall expire on the later of (a) At any time October 25, 2015, or (b) the date that is three (3) business days after the “Commencement Date, if all, but not less than all, of the Acceleration Conditions ” (as defined below) are satisfied, during in the Accelerated Period New Lease (as defined in Section 6 below), ) of the Company, in its sole discretion, may give a written notice (the “Accelerated Expiration Notice”) to the Holder specifying that the rights to exercise all or a specified part of this Warrant will expire on a date New Lease (the “Accelerated Expiration Date”) specified in with the Accelerated Expiration Noticesame force and effect as if such term were, provided that by the date so specified shall be at least twenty (20) Trading Days after the date (the “Accelerated Expiration Notice Date”) on which the Company gives provisions of the Accelerated Expiration Notice (but provided that Lease, fixed to expire with respect to the Holder actually receives such Accelerated Expiration Notice no later than the Trading Day immediately after such notice is given by the Company). Notwithstanding the foregoing, if the Acceleration Period Conditions (as defined below) are not satisfied during the period (the “Accelerated Period”) commencing entire Premises on the Accelerated Expiration Notice Date through (the “Acceleration”); provided that in no event shall the Accelerated Expiration Date be later than the Existing Expiration Date. Without limiting the foregoing:
A. Tenant shall surrender the Premises to Landlord in accordance with the terms of the Lease on or before the Accelerated Expiration Date.
B. Tenant shall remain liable for all Rent and other amounts payable under the Lease for the period up to and including the Accelerated Expiration Date, even though ▇▇▇▇▇▇▇▇ for such amounts may occur after the Accelerated Expiration Notice Date.
C. Tenant’s restoration obligations shall be deemed cancelledas set forth in the Lease; provided, however, that notwithstanding anything to the contrary in Section 8 or 25.5 of the Lease, Tenant shall not be required to remove any Tenant-Insured Improvements existing in the Premises or any Unit serving the Premises on the date of mutual execution and delivery of this Amendment. Without limitation, the foregoing shall not affect Tenant’s obligations under Section 23 of the Lease with respect to Lines, Section 3 of Exhibit F to the Lease with respect to Tenant’s Panel on the Monument Sign, or Tenant’s surrender obligations under Section 15 of the Lease.
(b) The Holder will continue D. If Tenant fails to have surrender any portion of the right to exercise this Warrant through and including Premises on or before the Accelerated Expiration Date, as determined Tenant’s tenancy shall be subject to Section 16 of the Lease.
E. Any other rights or obligations of Landlord or Tenant under the Lease that, in accordance with the provisionsabsence of the Acceleration, but not thereafter. If would have survived the Existing Expiration Date shall survive the Accelerated Expiration Notice provides that less than all of the outstanding Warrant is subject to such acceleration, any exercise of the Warrant by the Holder on or after the Accelerated Expiration Notice Date shall be applied against such acceleration.7
(c) The term “Acceleration Determination Period” means the consecutive twenty (20) Trading Days ending on the Trading Day immediately before the Accelerated Expiration Notice Date.
Appears in 1 contract
Accelerated Expiration Date. (a) At any time after Subject to the Commencement Dateprovisions hereof, if all, but not less than all, the term of the Acceleration Conditions (as defined below) are satisfied, during the Accelerated Period (as defined below), the Company, in its sole discretion, may give a written notice (the “Accelerated Expiration Notice”) to the Holder specifying that the rights to exercise all or a specified part of this Warrant will Lease shall expire on a date August 15, 2013 (the “Accelerated Expiration Date”) specified in with the Accelerated Expiration Noticesame force and effect as if such term were, provided that by the date so specified shall be at least twenty (20) Trading Days after the date (the “Accelerated Expiration Notice Date”) on which the Company gives provisions of the Accelerated Expiration Notice (but provided that the Holder actually receives such Accelerated Expiration Notice no later than the Trading Day immediately after such notice is given by the Company). Notwithstanding the foregoingLease, if the Acceleration Period Conditions (as defined below) are not satisfied during the period (the “Accelerated Period”) commencing fixed to expire on the Accelerated Expiration Notice Date. Without limiting the foregoing:
A. The portions of the Base Rent schedules set forth in Section 1.1 of the Sixth Amendment, Sections 5.B and 5.C of the Fifth Amendment and Section III of the Fourth Amendment that apply to the Premises during the period following the Accelerated Expiration Date through are hereby deleted from the Lease.
B. Tenant shall surrender the Premises to Landlord in accordance with the terms of the Lease, as modified by this Amendment, on or before the Accelerated Expiration Date.
C. Landlord acknowledges that as of the date hereof Landlord has received Base Rent and current estimates of Property Expenses due under the Lease up to and including June 30, 2013. Within one (1) business day following the full execution and delivery of this Amendment, Tenant shall pay, by wire transfer of immediately available funds to an account designated by Landlord, Base Rent and current estimates of Property Expenses for the Premises with respect to the month of July of 2013 in the total amount of $415,129.83 (the “July Rent”) and Base Rent and current estimates of Property Expenses for the Premises with respect to the period commencing on August 1, 2013 and ending on the Accelerated Expiration Date in the total amount of $207,564.92 (the “August Rent”). Subject to Tenant’s payment of the July Rent and the August Rent, notwithstanding anything in the Lease to the contrary, Landlord and Tenant each hereby waives any claims it may have against the other with respect to any under- or over-payment of Property Expenses under the Lease, including, without limitation, as the result of any adjustment in any portion of Property Expenses applicable to the Premises prior to the Accelerated Expiration Date determined after the date hereof.
D. Notwithstanding anything in the Lease to the contrary, Tenant’s restoration obligations shall be limited to the following (collectively, “Restoration Obligations”): (i) removal of all of Tenant’s personal property, trade fixtures, office machinery and equipment, furniture and movable partitions from the Premises and the Property, except for any of the foregoing duly transferred to Subtenant (defined in Section 2 below); and (ii) with respect to each of the permits set forth in Exhibit A attached hereto, for unrestricted use of the Premises and Property, the requirements set forth in clause (a) below (collectively, “Closure Requirements”):
(a) Prior to surrender of the Premises to Landlord, Tenant shall comply with all governmental environmental closure requirements applicable to and arising solely from Tenant’s activities on the Premises. Tenant shall provide Landlord with a copy of any closure plan and certificate or other documentation of closure of the Premises prepared by Tenant for submittal to government regulatory agencies pursuant to such requirements. Without limiting the foregoing, any waste and materials from Landlords demolition of Tenant Improvements or Alterations or other Tenant’s Property remaining on the Premises after expiration or termination of this Lease (but excluding any demolition waste from a source other than Tenant) must meet criteria in effect at the date of expiration or termination of this Lease for lawful disposal. Tenant shall use its best efforts to cause the Closure Requirements to be satisfied prior to the Accelerated Expiration Date.
E. If Tenant fails to surrender possession of the Premises on or before the Accelerated Expiration Date, the Accelerated Expiration Notice Tenant’s tenancy shall be deemed cancelled.
(b) The Holder will continue subject to have Section 10 of the right Lease. If Landlord is unable to exercise this Warrant through and deliver possession of all or any portion of the Premises to a new tenant or to perform improvements for a new tenant as a result of Tenant’s holdover, Tenant shall be liable for all resulting damages, including lost profits, incurred by Landlord. If Tenant fails to complete any of the Restoration Obligations on or prior to the Accelerated Expiration Date, such failure shall not in itself result in a holdover, provided that Tenant shall use its best efforts to complete the Restoration Obligations as determined in accordance soon as practicable thereafter, and Landlord shall cooperate with Tenant to provide any access to the provisionsPremises necessary for Tenant or any contractors approved by Landlord to pursue such completion (which entry shall be subject to Tenant’s insurance and indemnification obligations under the Lease, but not thereafter. If which shall survive the Accelerated Expiration Notice provides that less than all Date with respect to any such entry as if the Lease was still in effect), subject to any reasonable conditions imposed by Landlord. Alternatively, Landlord, at its option, may complete the Restoration Obligations and Tenant shall reimburse Landlord for the cost thereof within 10 days after demand.
F. In addition to the surviving Restoration Obligations pursuant to Section 1.1.D and E above, any other rights or obligations of Landlord or Tenant under the Lease that, in the absence of the outstanding Warrant is subject to such acceleration, any exercise acceleration of the Warrant by expiration date of the Holder on or after Lease to the Accelerated Expiration Notice Date (e.g., indemnification provisions), would have survived the Existing Expiration Date, and the provisions of this Amendment, shall be applied against such acceleration.7
(c) The term “Acceleration Determination Period” means the consecutive twenty (20) Trading Days ending on the Trading Day immediately before survive the Accelerated Expiration Notice Date.
G. Promptly following Landlord’s request, Tenant shall execute and deliver an instrument in recordable form confirming the termination of the Lease.
Appears in 1 contract
Sources: Research and Development/Office Lease (Affymax Inc)
Accelerated Expiration Date. Subject to the provisions hereof, the term of the Lease shall expire five days (a5) At any time days after the Commencement Date, if all, but not less than all, of the Acceleration Conditions Date (as defined below) are satisfied, during in the Accelerated Period New Lease)of the New Lease (as defined in Section 6.1 below), the Company, in its sole discretion, may give a written notice (the “Accelerated Expiration Notice”) to the Holder specifying that the rights to exercise all or a specified part of this Warrant will expire on a date (the “Accelerated Expiration Date”) specified in with the Accelerated Expiration Noticesame force and effect as if such term were, provided that by the date so specified shall be at least twenty (20) Trading Days after the date (the “Accelerated Expiration Notice Date”) on which the Company gives provisions of the Accelerated Expiration Notice (but provided that the Holder actually receives such Accelerated Expiration Notice no later than the Trading Day immediately after such notice is given by the Company). Notwithstanding the foregoingLease, if the Acceleration Period Conditions (as defined below) are not satisfied during the period (the “Accelerated Period”) commencing fixed to expire on the Accelerated Expiration Notice Date through (the “Acceleration”). Without limiting the foregoing:
A. Subject to Section 1.1.C below, T▇▇▇▇▇ shall surrender the Premises to Landlord in accordance with the terms of the Lease on or before the Accelerated Expiration Date.
B. Tenant shall remain liable for all Rent and other amounts payable under the Lease for the period up to and including the Accelerated Expiration Date, even though b▇▇▇▇▇▇▇ for such amounts may occur after the Accelerated Expiration Notice Date; provided, however, for the period beginning on the Commencement Date (as defined in Section 1.3.2 of the New Lease) of the New Lease and ending five (5) days thereafter, Base Rent shall be deemed cancelledabated.
C. Tenant’s restoration obligations shall be as set forth in the Lease; provided, however, that Landlord acknowledges and agrees that, for purposes of Sections 8 and 15 of the Lease, all Leasehold Improvements, Alterations and Tenant-Requested Improvements existing in the Premises as of the date hereof are Building-standard and, as a result thereof, Tenant shall have no obligation at the expiration of the Lease to remove (bnor pay for the removal of) The Holder will continue the same or repair (nor pay for the repair of) any damage resulting from such removal.
D. If T▇▇▇▇▇ fails to have surrender any portion of the right to exercise this Warrant through and including Premises on or before the Accelerated Expiration Date, as determined T▇▇▇▇▇’s tenancy shall be subject to Section 16 of the Lease.
E. Any other rights or obligations of Landlord or Tenant under the Lease that, in accordance with the provisionsabsence of the Acceleration, but not thereafter. If would have survived the Existing Expiration Date shall survive the Accelerated Expiration Notice provides that less than all of the outstanding Warrant is subject to such acceleration, any exercise of the Warrant by the Holder on or after the Accelerated Expiration Notice Date shall be applied against such acceleration.7
(c) The term “Acceleration Determination Period” means the consecutive twenty (20) Trading Days ending on the Trading Day immediately before the Accelerated Expiration Notice Date.
Appears in 1 contract