Common use of Expansion Premises Clause in Contracts

Expansion Premises. Except as specifically set forth below, all of the terms of the Lease with respect to the Original Premises shall apply to the Expansion Premises as if the Expansion Premises was included in the Original Premises, With respect to the Expansion Premises, Landlord and Tenant hereby agree as follows: The Expansion Premises is being delivered by Landlord to Tenant in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance in the amount of sixty dollars ($60.00) per Usable Square Foot of the Expansion Premises (the “Additional Tenant Improvement Allowance”) for the Expansion Premises and Tenant’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed to Tenant, on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for the Expansion Premises shall commence on the earlier to occur of (i) the date Tenant takes possession of the Expansion Premises (excluding possession during the Early Occupancy Period (as defined in the Work Letter) for the Expansion Premises, so long as Tenant does not conduct business in the Expansion Premises during such Early Occupancy Period), or (ii) the date the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Commencement Date”). Upon the occurrence of the Expansion Premises Rent Commencement Date, Basic Annual Rent and Additional Rent shall be payable on the same terms, at the same rates, and subject to the same escalation, as if the Expansion Premises was always included in the Original Premises.

Appears in 2 contracts

Samples: Lease Agreement (Weave Communications, Inc.), Lease Agreement (Weave Communications, Inc.)

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Expansion Premises. Except as specifically set forth below, all Prior to delivery by Landlord to Tenant of the terms Premises, Landlord shall deliver to Tenant possession of the premises depicted on ATTACHMENT C, attached hereto (the "EXPANSION PREMISES"), which Expansion Premises comprise approximately thirty-nine thousand forty-three (39,043) rentable square feet and is in the building located at 1741 Xxxxxxxxxx Xxxxx, Xxx Xxxx, Xxxxxxxxxx. Xxe terms and conditions of this Lease shall apply to Tenant's possession and use of the Expansion Premises; provided, however, that Base Rent due and payable commencing on the Expansion Premises Term Commencement Date (as defined herein) through the Term Commencement Date shall be an amount equal to One Hundred Eleven Thousand Two Hundred Seventy-Three Dollars and No/100 ($111,273.00) per month. Tenant shall be liable for the payment of Operating Expenses with respect to the Original Expansion Premises as of the Expansion Premises Term Commencement Date (as defined below). If the obligation for payment of Base Rent for the Expansion Premises commences on a day other than the first day of a month, then such Base Rent shall be prorated and the prorated installment shall be paid on the first day of the calendar month next succeeding the Expansion Premises Term Commencement Date (as defined below). The term commencement date ("EXPANSION PREMISES TERM COMMENCEMENT DATE") with respect to the Expansion Premises shall be the date Landlord delivers possession of the Expansion Premises with the improvements, if any, substantially complete in accordance with the terms of ATTACHMENT D, attached hereto. By taking possession of the Expansion Premises, Tenant accepts them "as is," as being in good order, condition and repair and the condition in which Landlord is obligated to deliver them and suitable for the Permitted Use (with respect to the Expansion Premises) and Tenant's intended operations in the Expansion Premises, whether or not any notice of acceptance is given. Landlord shall make commercially reasonable efforts to deliver possession of the Expansion Premises to Tenant on or before May 1, 2000. Tenant's taking of possession of the Expansion Premises or any part thereof shall constitute Tenant's confirmation of substantial completion thereof for all purposes hereof, whether or not substantial completion of the Expansion Premises Building or Project shall have occurred. If for any reason Landlord cannot deliver possession of the Expansion Premises to Tenant on the scheduled Expansion Premises Term Commencement Date, Landlord shall not be subject to any liability therefor, nor shall Landlord be in default hereunder nor shall such failure affect the validity of this Lease, and unless the Expansion Premises have been delivered to Tenant, Tenant agrees to accept possession of the Expansion Premises at such time as such improvements have been substantially completed, which date shall then be deemed the Expansion Premises Term Commencement Date. In the event of any dispute as to substantial completion of work performed or required to be performed by Landlord with respect to the Expansion Premises, the certificate of Landlord's architect or general contractor shall be conclusive. Upon the Term Commencement Date, the Expansion Premises shall be a part of the Premises under this Lease and the terms and conditions of the Lease shall apply to the Expansion Premises as if a part of the Expansion Premises was included in the Original Premises, With respect to the Expansion Premises, Landlord and Tenant hereby agree except as follows: The Expansion Premises is being delivered by Landlord to Tenant in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance in the amount of sixty dollars ($60.00) per Usable Square Foot of the Expansion Premises (the “Additional Tenant Improvement Allowance”) for the Expansion Premises and Tenant’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed to Tenant, on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for the Expansion Premises shall commence on the earlier to occur of (i) the date Tenant takes possession of the Expansion Premises (excluding possession during the Early Occupancy Period (as defined in the Work Letter) for the Expansion Premises, so long as Tenant does not conduct business in the Expansion Premises during such Early Occupancy Period), or (ii) the date the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Commencement Date”). Upon the occurrence of the Expansion Premises Rent Commencement Date, Basic Annual Rent and Additional Rent shall be payable on the same terms, at the same rates, and subject to the same escalation, as if the Expansion Premises was always included in the Original Premisesexpressly stated herein."

Appears in 1 contract

Samples: Lease (Brocade Communications Systems Inc)

Expansion Premises. Except On the conditions (“Expansion Conditions”) (which conditions Landlord may waive, at its election, by written notice to Tenant at any time) that both at the time that Tenant delivers its Expansion Request Notice and/or its Expansion Exercise Notice (as specifically set forth below, all such terms are hereinafter defined) and as of the terms of the Lease with respect to the Original Premises shall apply to date upon which the Expansion Premises (as if defined below) would have otherwise become incorporated into the Premises: (i) there exists no Event of Default and there have been no more than three (3) Events of Default during the Term, (ii) this Lease is still in full force and effect, and (iii) Tenant has neither assigned this Lease nor sublet more than thirty-three percent (33%) of the Rentable Floor Area of the Premises in the aggregate (except for an assignment or subletting permitted without Landlord’s consent under Section 12.5 hereof), Tenant shall have the one-time option (“Expansion Option”) to lease the Expansion Premises was included in the Original Premises, With respect on and subject to the terms and provisions herein set forth. As used herein, the “Expansion Premises, Landlord and Tenant hereby agree as follows: ” means the entire rentable floor area of a new wing of the Building (“Expansion Wing”) to be constructed in a location adjacent to the existing west wing of the Building. The Expansion Premises is being delivered by Landlord currently anticipated to Tenant in its contain approximately 130,000 square feet of rentable floor area and is preliminarily shown on the Site Plan attached hereto as Exhibit D-2 as as-isProposed Office/Lab.condition. Landlord will provide Tenant with a tenant improvement allowance in However, the amount parties acknowledge that neither the Expansion Wing nor the Expansion Premises have been permitted or fully designed as of sixty dollars ($60.00) per Usable Square Foot the date hereof, and therefore the exact size and location of the Expansion Premises (are not known as of the “Additional Tenant Improvement Allowance”) for the Expansion Premises date hereof and Tenant’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed to Tenant, on the same terms and conditions determined as are more particularly set forth in this Article 18. For the Work Letter with respect avoidance of doubt, and notwithstanding anything herein to the improvements constructed by Tenant in contrary, Landlord acknowledges and agrees that, for the duration of the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for the Expansion Premises shall commence on the earlier to occur of Lease Term, (i) the date Expansion Wing shall only be constructed by Landlord if Tenant takes possession timely exercises it Expansion Option and the parties agree on the form of the Expansion Premises (excluding possession during the Early Occupancy Period Amendment (as defined in the Work Letter) for the Expansion Premises, so long as Tenant does not conduct business in the Expansion Premises during such Early Occupancy Periodhereinafter defined), or and (ii) Landlord shall have no right to expand the date Building (other than the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Commencement Date”). Upon the occurrence of the Expansion Premises Rent Commencement Date, Basic Annual Rent and Additional Rent shall be payable Wing pursuant to this Article 18) or to construct a new building on the same terms, at the same rates, and subject to the same escalation, as if the Expansion Premises was always included in the Original PremisesSite.

Appears in 1 contract

Samples: Translate Bio, Inc.

Expansion Premises. Except as specifically set forth below, all of Tenant acknowledges that the terms of premises described on Exhibit E attached hereto (the Lease with respect to the Original Premises shall apply to the Expansion Premises as if the Expansion Premises was included in the Original Premises, With respect to the Expansion Premises, Landlord and Tenant hereby agree as follows: The Expansion Premises is being delivered ”) will be leased by Landlord to Tenant in its Terex USA, LLC (asOther Tenant”) pursuant to a lease dated on or about the date hereof (as the same may be amended or assigned from time to time, the “Other Lease”) which Other Lease is scheduled to expire on April 30, 2028, subject to a three-is” conditionyear extension option. Landlord will provide Tenant with a tenant improvement allowance in Effective on the amount of sixty dollars ($60.00) per Usable Square Foot day immediately following the date of the Expansion Premises (expiration or sooner termination of the “Additional Tenant Improvement Allowance”) for the Expansion Premises Other Lease and Tenant’s improvements within the Expansion Premises obtaining possession thereof (the “Expansion Premises Tenant ImprovementsCommencement Date”). The , Tenant shall lease the Expansion Premises Tenant Improvements will subject to the following terms: (i) the term of the Lease for the Expansion Premises shall be constructed, and coterminous with the Additional Tenant Improvement Allowance will be disbursed to Tenant, on Lease Term; (ii) the same terms and conditions as are set forth in the Work Letter Base Rent with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is shall be as set forth on Exhibit “A” F attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for , (iii) the Expansion Premises shall commence be leased in its “AS IS” condition, except to the extent otherwise agreed in writing by Landlord and Tenant, and (iv) commencing on the earlier to occur of (i) the date Tenant takes possession of the Expansion Premises Commencement Date: (excluding possession during the Early Occupancy Period (as defined in the Work Lettery) for the Expansion Premises, so long as Tenant does not conduct business in the Expansion Premises during such Early Occupancy Period)shall be added to and deemed a part of the Premises upon all of the terms and conditions of this Lease, except as otherwise specifically set forth in this Section 43, but in no event shall Landlord be obligated to provide Tenant with any allowances or perform any work in connection therewith; and (iiz) the date Tenant’s Proportionate Share shall be increased to 100%. Upon or promptly following the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Commencement Date”). Upon the occurrence of the Expansion Premises Rent Commencement Date, Basic Annual Rent Landlord and Additional Rent Tenant shall be payable on promptly execute an amendment to this Lease reflecting the same termsforegoing, at but the same rates, and subject failure to enter into such an amendment shall not affect the same escalation, as if the Expansion Premises was always included in the Original Premisesoperation of this Section 43.

Appears in 1 contract

Samples: Lease Agreement (Canoo Inc.)

Expansion Premises. Except as specifically set forth belowFrom and after June 1, all 1998, provided Tenant is not then in default under the terms, covenants, and conditions of this Lease, Tenant shall have the terms of right to lease the Lease with respect Temporary Space and other contiguous space in the building that becomes available to the Original Premises shall apply to public (the "Expansion Premises"), at such time as the Expansion Premises as if become available for lease, on the following terms and conditions. In such event, Landlord shall give written notice to Tenant of the availability of the Expansion Space and the terms and conditions on which Landlord intends to offer it to the public. Tenant shall have a period of five (5) business days following such notice within which to exercise Tenant's right to lease the Expansion Premises. If Tenant does not exercise its right to lease the Expansion Premises, Landlord may lease the Expansion Premises was included in the Original Premises, With without restriction and Tenant shall have no further rights with respect to the Expansion Premises, Landlord and . The terms on which the Tenant hereby agree as follows: The may lease the Expansion Premises is being delivered shall be the greater of: (i) the per square foot rental due pursuant to the terms of this Lease at such time; or (ii) the terms set forth in the notice provided by Landlord to Tenant in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance in regarding the amount of sixty dollars ($60.00) per Usable Square Foot availability of the Expansion Premises (the “Additional Tenant Improvement Allowance”) for the Expansion Premises and Tenant’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”)Premises. The Expansion Premises Tenant Improvements will shall be constructed, leased on an "as is" basis and the Additional Tenant Improvement Allowance will be disbursed Landlord shall have no obligation to Tenant, on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for improve the Expansion Premises or grant Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereofany improvement allowance thereon. Tenant’s obligation If requested by Landlord, Tenant shall, prior to pay Basic Annual Rent and Additional Rent for the Expansion Premises shall commence on the earlier to occur of (i) the date Tenant takes possession beginning of the Expansion Premises (excluding possession during the Early Occupancy Period (as defined in the Work Letter) term for the Expansion Premises, so long as Tenant does not conduct business in execute a written memorandum confirming the Expansion Premises during such Early Occupancy Period), or (ii) the date the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Commencement Date”). Upon the occurrence inclusion of the Expansion Premises and the Base Rent Commencement Date, Basic Annual Rent and Additional Rent shall be payable on the same terms, at the same rates, and subject to the same escalation, as if for the Expansion Premises was always included in the Original Premises.

Appears in 1 contract

Samples: Lease Agreement (Celerity Systems Inc)

Expansion Premises. Except The area on the sixth (6th) floor of the Building consisting of approximately 3,432 rentable square feet, commonly known as specifically Suite 675, and substantially as shown hatched on the plan annexed hereto as Schedule A (the “Expansion Premises”) is hereby added to, and shall be considered a part of the “Premises” (as such term is defined in the Existing Lease), for the period (the “Expansion Premises Term”) commencing on the date on which Landlord delivers the Expansion Premises to Tenant in broom clean condition and free of occupants, which date shall be not less than fifteen (15) days after execution of this Amendment (the “Expansion Premises Commencement Date”) and expiring on March 17, 2014 (the “Expansion Premises Expiration Date”); it being agreed that such date is the same as the New Expiration Date set forth belowin Section 3 of the Second Amendment referenced above. As of the Expansion Premises Term, all of references in the terms of Existing Lease to the “Premises” shall be deemed to refer to both the Existing Premises and the Expansion Premises. During the Expansion Premises Term, all references in the Existing Lease to (i) the “Lease” shall be deemed to refer to the Existing Lease, as amended by this Amendment, and (ii) the “Term” shall be deemed to refer to the Expansion Premises Term with respect to the Original Expansion Premises only. Landlord and Tenant acknowledge that the total rentable square feet of the Premises, including the Expansion Premises, from and after the Expansion Premises Commencement Date is 30,635 rentable square feet, and shall apply not be subject to re-measurement prior to the Expansion Premises as if Expiration Date, except in the event of a change in industry standards for the measurement of rental square footage in a multi-tenanted office building, in which case the amount of Rent due and payable under the Lease on a per rentable square foot basis shall be equitably adjusted so that in no event shall Tenant’s obligations with respect to Base Rent, Operating Expenses and Real Estate Taxes change. As more particularly set forth in Section 6(a) of the Second Amendment, from and after the Expansion Premises was included Commencement Date, the Must Take Premises (as defined in the Original Premises, With respect to Second Amendment) is reduced by the Expansion Premises, Landlord and Tenant hereby agree as follows: The Expansion Premises is being delivered by Landlord to Tenant in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance in the amount of sixty dollars ($60.00) per Usable Square Foot rentable square footage of the Expansion Premises (i.e., the “Additional Tenant Improvement Allowance”) for the Expansion Premises and Tenant’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed to Tenant, on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for the Expansion Premises shall commence on the earlier to occur of (i) the date Tenant takes possession minimum rentable area of the Expansion Premises (excluding possession during the Early Occupancy Period (as defined in the Work Letter) for the Expansion Premises, so long as Tenant does not conduct business in the Expansion Premises during such Early Occupancy Periodis reduced from 6,500 rentable square feet to 3,068 rentable square feet), or (ii) the date the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Commencement Date”). Upon the occurrence of the Expansion Premises Rent Commencement Date, Basic Annual Rent and Additional Rent shall be payable on the same terms, at the same rates, and subject to the same escalation, as if the Expansion Premises was always included in the Original Premises.

Appears in 1 contract

Samples: Office Lease (Cvent Inc)

Expansion Premises. Except as specifically set forth below, all Sublandlord grants to Subtenant a first right of the terms of the Lease negotiation with respect to the Original Premises "RMA Area" shown on EXHIBIT A and containing approximately 3,700 rentable square feet (the "Expansion Premises"). In the event that Sublandlord determines, in its sole discretion, that it no longer requires such area for its operations, Sublandlord shall apply give Subtenant written notice offering to sublease the Expansion Premises as if to Subtenant and specifying the Expansion Premises was included economic and other terms on which such sublease is to be made. Subtenant shall have five business days after receipt of Sublandlord's notice to notify Sublandlord of its interest in the Original Premises, With respect subleasing such space. If Subtenant timely notifies Sublandlord of its desire to sublease the Expansion Premises, Landlord Sublandlord and Tenant hereby agree as follows: The Expansion Premises is being delivered by Landlord to Tenant Subtenant shall negotiate in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance good faith the terms of such sublease which shall be the terms set forth in the amount of sixty dollars ($60.00) per Usable Square Foot of Sublandlord's notice offering the Expansion Premises to Subtenant (subject to further negotiation) and otherwise the “Additional Tenant Improvement Allowance”) for terms of this Sublease. If, within 30 days after Sublandlord's notice offering the Expansion Premises and Tenant’s improvements within to Subtenant, the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed to Tenant, parties reach agreement on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for the Expansion Premises which Subtenant shall commence on the earlier to occur of (i) the date Tenant takes possession of the Expansion Premises (excluding possession during the Early Occupancy Period (as defined in the Work Letter) for sublease the Expansion Premises, so long as Tenant does not conduct business in then Sublandlord and Subtenant shall execute an amendment to this Sublease evidencing such agreement. If, however, the parties fail to reach agreement within such 30 day period, then this first right of negotiation shall terminate and Sublandlord shall be free to re-occupy or sublease the Expansion Premises on any terms it may desire. This first right of negotiation is personal to Subtenant and may not be transferred to any person or entity, whether voluntarily or by operation of law, without Sublandlord's prior written consent. Sublandlord may grant or deny its consent to any such transfer in its sole discretion. This first right of negotiation shall be void if Subtenant is in default under this Sublease at any time during such Early Occupancy Period), or (ii) after the 30 day negotiation period and prior to the date on which the Expansion Premises Tenant Improvements are Substantially Complete, which date will is to be no later than September 1, 2021 (incorporated into the “Expansion Premises Rent Commencement Date”). Upon the occurrence of the Expansion Premises Rent Commencement Date, Basic Annual Rent and Additional Rent shall be payable on the same terms, at the same rates, and subject to the same escalation, as if the Expansion Premises was always included in the Original Subleased Premises.

Appears in 1 contract

Samples: Sublease Agreement (Mylex Corp)

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Expansion Premises. Except as specifically set forth below, all of the terms of the Lease with respect to the Original Premises shall apply to Commencing on the Expansion Premises as if the Expansion Premises was included Commencement Date, Tenant shall (in addition to Base Rent for the Original Premises, With respect to the Expansion Premises, Landlord and Tenant hereby agree as follows: The Expansion Premises is being delivered by Landlord to Tenant in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance in the amount of sixty dollars ($60.00) per Usable Square Foot of the Expansion Premises (the “Additional Tenant Improvement Allowance”) for the Expansion Premises and Tenant’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed to Tenant, on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional commence paying Base Rent for the Expansion Premises (“Expansion Premises Base Rent”) at the rate of $2.60 per rentable square foot of the Expansion Premises per month. Commencing on the first anniversary of the Expansion Premises Commencement Date, Tenant shall commence on paying Expansion Premises Base Rent in the earlier to occur amount of $2.80 per rentable square foot of the Expansion Premises per month through the Expiration Date. Notwithstanding the foregoing, for (i) the date period commencing on the Expansion Premises Commencement Date through the last day of the 6th month after the Expansion Premises Commencement Date, Tenant takes possession shall be required to pay Expansion Premises Base Rent with respect to only 3,000 rentable square feet of the Expansion Premises, and (ii) for the period commencing on the 1st day of the 7th month after the Expansion Premises Commencement Date through the last day of the 12th month after the Expansion Premises Commencement Date, Tenant shall be required to pay Expansion Premises Base Rent with respect to only 6,000 rentable square feet of the Expansion Premises. Commencing on the first anniversary of the Expansion Premises (excluding possession during Commencement Date, Tenant shall commence paying Expansion Premises Base Rent with respect to the Early Occupancy Period (as defined in the Work Letter) for the entire Expansion Premises. Notwithstanding anything to the contrary contained herein, so long as Tenant does not conduct business in if at any time prior to the last day of the 12th month after the Expansion Premises during such Early Occupancy Period), or (ii) the date the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Commencement Date”). Upon , Tenant subleases to a third party (pursuant to the occurrence terms of the Lease) a portion of the Expansion Premises in excess of the rentable square footage with respect to which Tenant is then-required to pay Base Rent Commencement Datepursuant to this Section 5(b), Basic Annual Rent then any such base rent payable under the sublease with respect to such additional square footage only shall be due and payable as Additional Rent under the Lease and Tenant shall be payable pay to Landlord (on the same terms, at day that Base Rent is due) all such base rent payable under the same rates, and subject to the same escalation, as if the Expansion Premises was always included sublease in the Original Premisesconnection with such additional square footage.

Appears in 1 contract

Samples: Lease Agreement (Calithera Biosciences, Inc.)

Expansion Premises. Except as specifically set forth below, all of (A) Subject to the terms of the Lease with respect to the Original Premises shall apply to the Expansion Premises as if the Expansion Premises was included in the Original Premises, With respect to this Paragraph 2 and Tenant's pre-existing occupancy of the Expansion Premises, Landlord shall deliver vacant and exclusive possession of the Expansion Premises to Tenant on [***] (the " Scheduled EP Commencement Date"). The term "Expansion Premises Commencement Date" shall mean the Scheduled EP Commencement Date, or such later date on which Landlord delivers vacant and exclusive possession of the Premises to Tenant, subject to Tenant's occupancy thereof. From and after the Expansion Premises Commencement Date, (i) Landlord leases to Tenant, and Tenant hires from Landlord, the Expansion Premises upon all of the same terms, covenants and conditions set forth in the Lease, except as modified and amended herein and (ii) all references in the Lease to the Premises shall be deemed to mean, collectively, the Original Premises and the Expansion Premises. (B) Landlord and Tenant hereby acknowledge and agree that (x) as follows: The of the date hereof, Tenant occupies the Expansion Premises pursuant to the terms of the Existing Sublease and (y) the term of the Existing Sublease is scheduled to expire on the Sublease Fixed Expiration Date, and (z) from and after such date, Tenant shall have no right to occupy the Premises pursuant to the terms of the Sublease; it being delivered by the intent and purpose hereof that from and after the Expansion Premises Commencement Date, the terms of the Lease, as amended hereby, shall govern Tenant's use and occupancy of the Premises. Subject to the rights of Capgemini, Landlord to Tenant hereby approves Tenant’s occupancy of the Expansion Premises on [***]. (C) If a Person (other than Tenant) remains in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance in the amount of sixty dollars ($60.00) per Usable Square Foot occupancy of the Expansion Premises (or any portion thereof) on the “Additional Tenant Improvement Allowance”) for Scheduled EP Commencement Date, then Landlord, at Landlord's expense, shall use reasonable diligence to remove such Person from the Expansion Premises as promptly as reasonably practicable thereafter. Tenant waives any right to rescind this Amendment under Section 223-a of the New York Real Property Law or any successor statute of similar nature and Tenantpurpose then in force and further waives the right to recover any damages which may result from Xxxxxxxx’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed failure for any reason to Tenant, on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for the Expansion Premises shall commence on the earlier to occur of (i) the date Tenant takes deliver possession of the Expansion Premises (excluding possession during to Tenant on the Early Occupancy Period (as defined in the Work Letter) for the Expansion Premises, so long as Tenant does not conduct business in the Expansion Premises during such Early Occupancy Period), or (ii) the date the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Scheduled EP Commencement Date”). Upon the occurrence If Landlord is unable to give possession of the Expansion Premises Rent on the Scheduled EP Commencement Date, Basic Annual then the EP Rent and Additional Rent Commencement Date (as hereinafter defined) shall be payable adjourned for the number of days in the period beginning on the same termsScheduled EP Commencement Date and ending on the day immediately preceding the Expansion Premises Commencement Date. Landlord’s failure to give possession of the Expansion Premises to Tenant on the Scheduled EP Commencement Date shall not (i) affect the validity of this Lease, at the same rates, and (ii) subject to the same escalationterms of this Paragraph 2(C), affect the obligations of Tenant hereunder, (iii) give rise to any claim for damages by Tenant or any claim for rescission of this Lease by Xxxxxx, or (iv) be construed to extend the EP Term (as if the Expansion Premises was always included in the Original Premises.hereinafter defined). The provisions of this Paragraph 2(C) are intended to constitute

Appears in 1 contract

Samples: Zentalis Pharmaceuticals, Inc.

Expansion Premises. Except as specifically set forth below, all of the terms of the Lease with respect to the Original Premises shall apply to the Expansion Premises as if the Expansion Premises was included in the Original Premises, With respect to the Expansion Premises, Landlord and Tenant hereby agree as follows: The Expansion Premises is being delivered by Landlord to Tenant in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance in the amount of sixty dollars ($60.00) per Usable Square Foot of the Expansion Premises (the “Additional Tenant Improvement Allowance”) for the Expansion Premises and Tenant’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed to Tenant, Commencing on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for the Expansion Premises shall commence on the earlier to occur of (i) the date Tenant takes possession of the Expansion Premises (excluding possession during the Early Occupancy Period (as defined in the Work Letter) for the Expansion Premises, so long as Tenant does not conduct business in the Expansion Premises during such Early Occupancy Period), or (ii) the date the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (the “Expansion Premises Rent Commencement Date”). Upon the occurrence of the Expansion Premises Rent Commencement Date, Basic Annual Tenant shall pay Base Rent and Additional Rent for the Expansion Premises in the amount of $47.00 per rentable square foot of the Expansion Premises per year, which shall be payable in advance, without demand, abatement, deduction or set-off, in equal monthly installments on or before the same termsfirst day of each calendar month during the Term, at in lawful money of the same rates, and subject to United States of America. The “EP Rent Adjustment Percentage” shall mean the same escalation, as if greater of 4% or the CPI Adjustment Percentage. Base Rent for the Expansion Premises was always included shall be increased on each annual anniversary of the Expansion Premises Commencement Date (each an “EP Adjustment Date”) by multiplying the Base Rent payable for the Expansion Premises immediately before such EP Adjustment Date by the EP Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable for the Expansion Premises immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. “CPI Adjustment Percentage” means (i) a fraction, stated as a percentage, the numerator of which shall be the Index for the calendar month 3 months before the month in which the Adjustment Date occurs, and the denominator of which shall be the Index for the calendar month 3 months before the last Adjustment Date or, if no prior Base Rent adjustment has been made, 3 months before the first day of the first full month during the Term of this Lease with respect to the Expansion Premises, less (ii) 1.00. “Index” means the “Consumer Price Index-All Urban Consumers-Boston-Brockton-Nashua, MA-NH-ME-CT” compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100). If a substantial change is made in the Index, the revised Index shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the revised Index comparable to the prior Index. If the Bureau of Labor Statistics ceases to publish the Index, then the successor or most nearly comparable index, as reasonably determined by Landlord, shall be used, subject to such adjustments as Landlord may reasonably deem appropriate in order to make the new index comparable to the Index. Landlord shall give Tenant written notice indicating the Base Rent, as adjusted pursuant to this Section, and the method of computation and Tenant shall pay to Landlord an amount equal to any underpayment of Base Rent by Tenant within 15 days of Landlord’s notice to Tenant. Failure to deliver such notice shall not reduce, xxxxx, waive or diminish Tenant’s obligation to pay the adjusted Base Rent. Notwithstanding anything to the contrary contained herein, commencing on the Expansion Premises Rent Commencement Date through the expiration of the 6th month after the Expansion Premises Commencement Date (“EP Base Rent Reduction Period”), Tenant shall only be required to pay Base Rent with respect to 4,000 rentable square feet of the Expansion Premises. Tenant shall commence paying Base Rent with respect to the entire Expansion Premises on the 1st day of the 7th month following the Expansion Premises Commencement Date. Tenant shall continue to pay Base Rent as required under the Lease with respect to the entire Original PremisesPremises throughout the EP Base Rent Reduction Period.

Appears in 1 contract

Samples: License Agreement (Blueprint Medicines Corp)

Expansion Premises. Except as specifically set forth belowProvided that (i) Tenant has not assigned the Lease, all and (ii) not more than 50% of the terms Premises are then subject to a sublease (whether the term of the Lease with respect sublease has commenced or is to be commenced thereafter), then Tenant shall lease the Original Premises shall apply to entirety of approximately 21,142 rentable square feet of space located on the Expansion Premises as if the Expansion Premises was included in the Original Premises, With respect to the Expansion Premises, Landlord and Tenant hereby agree as follows: The Expansion Premises is being delivered by Landlord to Tenant in its “as-is” condition. Landlord will provide Tenant with a tenant improvement allowance in the amount of sixty dollars ($60.00) per Usable Square Foot third floor of the Building (collectively, "Expansion Premises (the “Additional Tenant Improvement Allowance”Space") for the Expansion Premises and Tenant’s improvements within the Expansion Premises (the “Expansion Premises Tenant Improvements”). The Expansion Premises Tenant Improvements will be constructed, and the Additional Tenant Improvement Allowance will be disbursed to Tenant, on the same terms and conditions as are set forth in the Work Letter with respect to the improvements constructed by Tenant in the Original Premises. The “Work Schedule” for the Expansion Premises Tenant Improvements is set forth on Exhibit “A” attached hereto and made a part hereof. Tenant’s obligation to pay Basic Annual Rent and Additional Rent for the Expansion Premises shall commence on upon the earlier to occur of (i) two (2) years following the date Tenant takes possession of Term Commencement Date (the "Outside Expansion Premises (excluding possession during the Early Occupancy Period (as defined in the Work Letter) for the Expansion Premises, so long as Tenant does not conduct business in the Expansion Premises during such Early Occupancy PeriodCommencement Date"), or (ii) the date on which the Expansion Space is substantially completed in accordance with subsection (A) below in the event Tenant provides written notice to Landlord that Tenant has elected to take the Expansion Premises Tenant Improvements are Substantially Complete, which date will be no later than September 1, 2021 (prior to the Outside Expansion Premises Rent Commencement Date”). Upon Date (which notice shall include a designation of the occurrence portions of the Expansion Premises Rent Commencement Date, Basic Annual Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent Rent, the Expansion Space shall be payable leased on all the same terms, at the same rates, terms and subject conditions of this Lease then in effect with respect to the same escalationinitial Premises, as if provided all terms of the Lease based upon the rentable square feet of the Premises shall be adjusted accordingly; (C) the term for the Expansion Premises was always included Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Original Premises.Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:

Appears in 1 contract

Samples: Lease (CMG Information Services Inc)

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