Common use of Right to Reduce Space Clause in Contracts

Right to Reduce Space. (a) On the condition (which condition Landlord may waive, at its election, by written notice to Tenant at any time) that Tenant is not in default of its covenants and obligations under this Lease, Tenant shall have the right to reduce the size of the Premises by up to ten percent (10%) of the rentable area thereof by written notice to Landlord prior to the commencement of Landlord's Work. The portion of the Premises which Tenant elects to give back to Landlord (the "Give-Back Premises") and the remaining portion of the Premises on the floor(s) of the Building where the Give-Back Premises are located shall be of a marketable configuration (as determined by Landlord in its sole and absolute discretion) and otherwise in a location reasonably acceptable to Landlord. If Tenant shall timely exercise such right, (i) Tenant shall, within thirty (30) days of billing(s) therefor (accompanied by supporting documentation), reimburse Landlord for the costs and expenses incurred by Landlord in connection with the proposed preparation of the Give-Back Premises for Tenant's occupancy, and (ii) the parties shall promptly execute and deliver an amendment to this Lease confirming the location of the Give-Back Premises and making any changes to the terms and provisions of this Lease required as a result of the Give-Back Premises no longer being part of the Premises (e.g.,