Common use of Exercise of Right by Lessee Clause in Contracts

Exercise of Right by Lessee. Provided that Lessee is not in default under this Lease and provided further that Lessee strictly complies with the provisions of this Paragraph, Lessee shall have the right to reasonably review supporting data for any portion of a Lessor's statement that Lessee claims is incorrect. In order for Lessee to exercise its right under this Paragraph, Lessee shall, within thirty (30) days after any such Lessor's statement is sent, deliver a written notice to Lessor specifying the portions of the Lessor's statement that are claimed to be incorrect, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's statement. Except as expressly set forth in subparagraph 3 below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's obligation to make all Base Rent payments and all payments for Additional Rent pending the completion of, and regardless of the results of, any review under this Paragraph. The right to review granted to Lessee under this Paragraph may only be exercised once for any Lessor's statement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Paragraph for a particular Lessor's statement shall be deemed waived.

Appears in 3 contracts

Sources: Triple Net Building Lease (Broadvision Inc), Triple Net Building Lease (Broadvision Inc), Triple Net Building Lease (Broadvision Inc)

Exercise of Right by Lessee. Provided that Lessee is not in default under this Lease and provided further that Lessee strictly complies with the provisions of this Paragraph, Lessee shall have the right to reasonably review supporting data for any portion of a Lessor's ’s statement that Lessee claims is incorrect. In order for Lessee to exercise its right under this Paragraph, Lessee shall, within thirty (30) days after any such Lessor's ’s statement is sent, deliver a written notice to Lessor specifying the portions of the Lessor's ’s statement that are claimed to be incorrect, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's ’s statement. Except as expressly set forth in subparagraph 3 below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's ’s obligation to make all Base Rent payments and all payments for Additional Rent pending the completion of, and regardless of the results of, any review under this Paragraph. The right to review granted to Lessee under this Paragraph may only be exercised once for any Lessor's ’s statement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Paragraph for a particular Lessor's ’s statement shall be deemed waived.

Appears in 3 contracts

Sources: Sublease (PDL Biopharma, Inc.), Sublease (Biotech Spinco, Inc.), Triple Net Space Lease (Broadvision Inc)

Exercise of Right by Lessee. Provided that Lessor has not delivered to Lessee is written notice of any default by Lessee hereunder, which default has not in default under this Lease then been cured, and provided further that Lessee strictly complies with the provisions of this ParagraphSection 4.08, Lessee shall have the right to reasonably review supporting data for any portion of a Lessor's statement ’s Statement that Lessee claims is believes may be incorrect. In order for Lessee to exercise its right under this ParagraphSection 4.08, Lessee shall, within thirty within: (30i) forty-five (45) days after any Lessor’s Statement is received, if Lessor includes a copy of Lessor’s general ledger for Building 9 with such Lessor's statement ’s Statement, or (ii) ninety (90) days after Lessor’s Statement is sentreceived, in all other events, deliver a written notice to Lessor specifying the portions of the Lessor's statement ’s Statement that are claimed it believes to be incorrect, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's statement’s Statement, if applicable. Except as expressly set forth in subparagraph 3 (c) below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's ’s obligation to make all Base Rent payments and all payments for Additional Rent Rent, pending the completion of, and regardless of the results of, any review under this ParagraphSection 4.08. The right to review granted to Lessee under this Paragraph Section 4.08 may only be exercised once for any Lessor's statement’s Statement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Paragraph Section 4.08 for a particular Lessor's statement ’s Statement shall be deemed waived.

Appears in 2 contracts

Sources: Triple Net Space Lease (PDL Biopharma, Inc.), Triple Net Space Lease (Biotech Spinco, Inc.)

Exercise of Right by Lessee. Provided that Lessor has not delivered to Lessee is written notice of any default by Lessee hereunder, which default has not in default under this Lease then been cured, and provided further that Lessee strictly complies with the provisions of this ParagraphSection 4.08, Lessee shall have the right to reasonably review supporting data for any portion of a Lessor's statement ’s Statement that Lessee claims is believes may be incorrect. In order for Lessee to exercise its right under this ParagraphSection 4.08, Lessee shall, within thirty within: (30i) forty-five (45) days after any Lessor’s Statement is received, if Lessor includes a copy of Lessor’s general ledger for Building 10 with such Lessor's statement ’s Statement, or (ii) ninety (90) days after Lessor’s Statement is sentreceived, in all other events, deliver a written notice to Lessor specifying the portions of the Lessor's statement ’s Statement that are claimed it believes to be incorrect, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's statement’s Statement, if applicable. Except as expressly set forth in subparagraph 3 (c) below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's ’s obligation to make all Base Rent payments and all payments for Additional Rent Rent, pending the completion of, and regardless of the results of, any review under this ParagraphSection 4.08. The right to review granted to Lessee under this Paragraph Section 4.08 may only be exercised once for any Lessor's statement’s Statement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Paragraph Section 4.08 for a particular Lessor's statement ’s Statement shall be deemed waived.

Appears in 2 contracts

Sources: Triple Net Space Lease (Biotech Spinco, Inc.), Triple Net Space Lease (PDL Biopharma, Inc.)

Exercise of Right by Lessee. Provided that Lessee is not in --------------------------- default under this Lease and provided further that Lessee strictly complies with the provisions of this Paragraph, Lessee shall have the right to reasonably review supporting data for any portion of a Lessor's statement that Lessee claims is incorrect. In order for Lessee to exercise its right under this Paragraph, Lessee shall, within thirty (30) days after any such Lessor's statement is sent, deliver a written notice to Lessor specifying the portions of the Lessor's statement that are claimed to be incorrect, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's statement. Except as expressly set forth in subparagraph 3 below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's obligation to make all Base Rent payments and all payments for Additional Rent pending the completion of, and regardless of the results of, any review under this Paragraph. The right to review granted to Lessee under this Paragraph may only be exercised once for any Lessor's statement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Paragraph for a particular Lessor's statement shall be deemed waived.

Appears in 1 contract

Sources: Triple Net Building Lease (Phone Com Inc)

Exercise of Right by Lessee. Provided that Lessee is not in default under this Lease and provided further that Lessee strictly complies with the provisions of this ParagraphSection 4.05, Lessee shall have the right to reasonably review supporting data for any portion of a Lessor's ’s statement that Lessee claims is incorrect. In order for Lessee to exercise its right under this ParagraphSection 4.05, Lessee shall, within thirty (30) days after any such Lessor's statement ’s Statement is sent, deliver a written notice to Lessor specifying the portions of the Lessor's ’s statement that are claimed to be incorrect, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's statement’s Statement. Except as expressly set forth in subparagraph 3 (c) below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's ’s obligation to make all Base Rent payments and all payments for Additional Rent pending the completion of, and regardless of the results of, any review under this ParagraphSection 4.05. The right to review granted to Lessee under this Paragraph Section 4.05 may only be exercised once for any Lessor's statement’s Statement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Paragraph Section 4.05 for a particular Lessor's statement ’s Statement shall be deemed waived.

Appears in 1 contract

Sources: Triple Net Space Lease (Blue Coat Systems Inc)

Exercise of Right by Lessee. Provided that Lessee is not in default under this Lease and provided further that Lessee strictly complies with the provisions of this ParagraphSection 4.08, Lessee shall have the right to reasonably review supporting data for any portion of a Lessor's ’s statement that Lessee claims is incorrect. In order for Lessee to exercise its right under this ParagraphSection 4.08, Lessee shall, within thirty forty-five (3045) days after any such Lessor's statement ’s Statement is sentreceived, deliver a written notice to Lessor specifying the portions of the Lessor's ’s statement that are claimed to be incorrect, and Lessee shall simultaneously pay to Lessor all amounts due from Lessee to Lessor as specified in the Lessor's ’s statement. Except as expressly set forth in subparagraph 3 (c) below, in no event shall Lessee be entitled to withhold, deduct, or offset any monetary obligation of Lessee to Lessor under the Lease including, without limitation, Lessee's ’s obligation to make all Base Rent payments and all payments for Additional Rent pending the completion of, and regardless of the results of, any review under this ParagraphSection 4.08. The right to review granted to Lessee under this Paragraph Section 4.08 may only be exercised once for any Lessor's statement’s Statement, and if Lessee fails to meet any of the above conditions as a prerequisite to the exercise of such right, the right of Lessee under this Paragraph Section 4.08 for a particular Lessor's statement ’s Statement shall be deemed waived.

Appears in 1 contract

Sources: Triple Net Space Lease (Threshold Pharmaceuticals Inc)