Common use of Discontinued Use Clause in Contracts

Discontinued Use. If, at any time following the Commencement Date, Tenant does not continuously operate its business in the Premises for a period of 180 consecutive days (not including any failure to operate resulting from a casualty, a Taking or a Force Majeure event that precludes Tenant’s operations in the entire Premises), Landlord may, but is not obligated to, elect to terminate this Lease upon 30 days’ written notice to Tenant, whereupon this Lease shall terminate 30 days’ after Landlord’s delivery of such written notice (“Termination Date”), and Tenant shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or before the Termination Date and Tenant shall have no further obligations under this Lease except for those accruing prior to the Termination Date and those which, pursuant to the terms of this Lease, survive the expiration or early termination of this Lease.

Appears in 1 contract

Sources: Lease Agreement (Mirati Therapeutics, Inc.)

Discontinued Use. If, at any time following the Commencement DateSubstantial Completion of the Tenant Improvements, Tenant does not continuously operate its business in the Premises for a period of 180 eighteen (18) consecutive days months (not including any failure to operate resulting from other than as a result of a casualty, a Taking Taking, Force Majeure, Government Mandate or a Force Majeure event that precludes Tenant’s operations in the entire Premisesdefault by Landlord under this Lease), Landlord may, but is not obligated to, elect to terminate this Lease upon 30 180 days’ written notice to Tenant, whereupon whereupon, unless Tenant commences to operate its business in the Premises within 90 days’ after Tenant’s receipt of Landlord’s written notice, this Lease shall terminate 30 180 days’ after Landlord’s delivery of such written notice (“Termination Date”), and Tenant shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or before the Termination Date and Tenant shall have no further obligations under this Lease except for those accruing prior to the Termination Date and those which, pursuant to the terms of this Lease, survive the expiration or early termination of this Lease.

Appears in 1 contract

Sources: Lease Agreement (Arrowhead Pharmaceuticals, Inc.)

Discontinued Use. If, at any time following the Commencement Date, Tenant does not continuously operate its business in at the Premises for a period of 180 90 consecutive days and, prior to the conclusion of such 90-day period, has failed to close out and decommission the Premises (not including any failure to operate resulting from in full compliance with Section 28 of this Lease and a casualty, a Taking or a Force Majeure event that precludes Tenant’s operations final Decommissioning and HazMat Closure Plan) in the entire Premisessame manner as required at the end of the Term (it being understood, however, that such close out and decommissioning shall not effect a termination of the Lease), then Landlord may, but is not obligated to, elect to terminate this Lease upon 30 days’ written notice to Tenant, whereupon this Lease shall terminate 30 days’ after Landlord’s delivery of such written notice (“Termination Date”)) unless prior to such time Tenant has performed its obligations under Section 28, and Tenant shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or before the Termination Date and Tenant shall have no further obligations under this Lease except for those accruing prior to the Termination Date and those which, pursuant to the terms of this the Lease, survive the expiration or early termination of this the Lease.

Appears in 1 contract

Sources: Lease Agreement (Forma Therapeutics Holdings, Inc.)