Common use of Extension of Outside Date Clause in Contracts

Extension of Outside Date. Prior to the Delivery of Termination Notice. If, prior to the Outside Date, Landlord determines that the Lease Commencement Date will not occur by the Outside Date, then Landlord shall have the right to deliver a written notice to Tenant stating Landlord's opinion as to the date by which the Lease Commencement Date will occur, and Tenant shall be required, within five (5) business days after receipt of such notice, to deliver a notice to Landlord pursuant to which Tenant shall elect either (i) to terminate this Lease, in which case this Lease shall terminate and be of no further force or effect upon Landlord's receipt of such notice, or (ii) to agree to extend the Outside Date to that date set forth in Landlord's notice to Tenant. Failure by Tenant to deliver such notice or to make such election shall be deemed to be Tenant's agreement to extend the Outside Date to that date set forth in Landlord's notice to Tenant. If Tenant agrees or is deemed to have agreed to extend the Outside Date, then Landlord shall have a continuing right to deliver a notice to Tenant which requests Tenant to elect either to terminate this Lease or to further extend the Outside Date as set forth in this Section 1.1.5.3, above, until the occurrence of the Lease Commencement Date or until this Lease is terminated. Upon the delivery of a Termination Notice by Tenant pursuant to Section 1.1.5.1 above in connection with an Outside Date extended pursuant to this Section 1.1.5.3, Landlord shall also have the same right to deliver the Termination Extension Notice as to the new Outside Date, as set forth in Section 1.1.5.2, above. 822610.04/WLA [THE BOARDWALK] 183362-00050/9-24-20/mem/mem -5- [Zentalis Pharmaceuticals, Inc.]

Extension of Outside Date. Prior to the Delivery of Termination Notice. If, prior to before the Outside Date, Landlord determines that Substantial Completion of the Lease Commencement Date Tenant Improvements will not occur by the Outside Date, then Landlord shall have the right to deliver a written notice to Tenant stating Landlord's opinion as to reasonable, good-faith estimate of the date by which Substantial Completion of the Lease Commencement Date Tenant Improvements will occur, and . Tenant shall be required, within five (5) business days after receipt of such notice, to either deliver a notice to Landlord pursuant to written notice of termination (which Tenant shall elect either (i) to terminate this Lease, in which case will mean that this Lease shall terminate and be of no further force and effect) or effect upon Landlord's receipt of such notice, or (ii) to agree to extend the Outside Date to that the date set forth stated in Landlord's notice notice. Tenant's failure to Tenant. Failure by Tenant to deliver such notice or to make such election respond in writing thin this five (5) day period shall be deemed considered to be constitute Tenant's agreement to extend the Outside Date to that the date set forth stated in Landlord's notice to Tenantnotice. If Tenant agrees or is deemed to have agreed to extend the Outside DateDate is so extended, then Landlord shall have a continuing Landlord's right to deliver a notice to Tenant which requests request Tenant to elect to either to terminate this Lease or to further extend the Outside Date as shall remain and continue to remain, with each of the notice periods and response periods set forth in this Section 1.1.5.3, above, until the occurrence Substantial Completion of the Lease Commencement Date Tenant Improvements or until this Lease is terminated. Upon If Substantial Completion of the delivery of a Termination Notice Tenant Improvements has not taken place by Tenant pursuant to Section 1.1.5.1 above in connection with an the Outside Date as the same has been extended pursuant to this Section 1.1.5.3subsection 4.4.2, Landlord shall also have this Lease shall, at the same right to deliver option of Tenant, terminate as of the Termination Extension Notice as to the new Outside Date, as set forth in Section 1.1.5.2, above. 822610.04/WLA [THE BOARDWALK] 183362-00050/9-24-20/mem/mem -5- [Zentalis Pharmaceuticals, Inc.].