Common use of ADDED SPACE Clause in Contracts

ADDED SPACE. Effective on the later to occur of (a) August 1, 1998 and (b) sixty (60) days after Landlord shall deliver possession of the Added Space (as hereinafter defined) to Tenant (the "Added Space Commencement Date"), the Added Space shall be included in the Premises demised under the Lease provided, however, that if Landlord fails to deliver possession of the Added Space on or before September 1, 1998, Tenant shall be entitled to a credit from its Base Rent in the amount equal to two (2) days' Base Rent for every one (1) day that such failure continues after September 1, 1998. Landlord agrees to deliver possession of the Added Space in a broom clean condition with all personal property of previous tenant removed. The "Added Space" shall consist of the entire sixth floor of the Building, comprising 22,525 rentable square feet ("rsf"), and the entire seventh floor of the Building, comprising 14,040 rsf. Tenant shall have the right to commence its leasehold improvement work in the Added Space, provided that Tenant shall comply with the requirements of Sections 9; 13(f); 14 (g), (i), (l) - (p); 17 (a); and 18 of the Lease with respect to such work and, prior to commencement of such work, Tenant shall provide to Landlord certificates evidencing the insurance coverage required by Section 18. Effective on the Added Space Commencement Date, and subject to rent adjustments, Tenant shall pay to Landlord with respect to the Added Space an annual Base Rent of Four Hundred Seventy-Five Thousand Three Hundred Forty-Five and 00/100 Dollars ($475,345.00), in twelve (12) monthly installments of Thirty-Nine Thousand Six Hundred Twelve and 08/100 Dollars ($39,612.08). On each anniversary of the Added Space Commencement Date (each, an "Adjustment Date" for purposes of this Paragraph) the Base Rent with respect to the Added Space shall be increased by three percent (3%) over the Base Rent in effect immediately prior to such Adjustment Date (said amount due pursuant to this increase shall be the new Base Rent until the next Adjustment Date).

ADDED SPACE. Effective during the period commencing on the later date (hereinafter called the "16th Floor Added Space Date") that Landlord substantially completes the work described in Paragraph 4 hereof and delivers the 16th Floor Added Space to occur of Tenant in the condition described in Paragraph 4 hereof (aand Landlord agrees to give Tenant a "Substantial Completion Notice" (as defined in Paragraph 5 hereof) August 1, 1998 and with respect to Landlord's work described in Paragraph 4 at least five (b) sixty (605) days after Landlord shall deliver possession prior to such completion date), and ending on the last day of the month in which the day immediately preceding the third (3rd) anniversary of the 16th Floor Added Space Date shall occur (as hereinafter defined) to Tenant (called the "16th Floor Added Space Commencement Expiration Date"), the Added Space subject to extension pursuant to Paragraph 8 of this Agreement, there shall be added to and included in the Premises demised under the Lease providedfollowing additional space in the Building, however, that if Landlord fails to deliver possession wit: The portion of the Added Space on or before September 1, 1998, Tenant shall be entitled to a credit from its Base Rent in the amount equal to two sixteenth (216th) days' Base Rent for every one (1) day that such failure continues after September 1, 1998. Landlord agrees to deliver possession of the Added Space in a broom clean condition with all personal property of previous tenant removed. The "Added Space" shall consist of the entire sixth floor of the Building, comprising 22,525 rentable square feet substantially as shown hatched on the floor plan annexed hereto as "Exhibit A" (hereinafter called "rsf16th Floor Added Space"), which the parties hereto agree contains 23,423 rentable square feet. Landlord does hereby lease to Tenant and Tenant does hereby hire from Landlord the entire seventh floor 16th Floor Added Space subject and subordinate to all superior leases and superior mortgages as provided in the Lease and upon and subject to all the covenants, agreements, terms and conditions of the Building, comprising 14,040 rsf. Lease as supplemented by this Agreement (other than Article 36 of the Lease [unless Tenant shall have exercises its option pursuant to Paragraph 8 hereof to extend the right to commence its leasehold improvement work in the Added Space, provided that Tenant shall comply with the requirements of Sections 9; 13(f); 14 (g), (i), (l) - (p); 17 (a); and 18 term of the Lease with respect to such work andthe 16th Floor Added Space], prior to commencement Section 38.05 of such work, Tenant shall provide to Landlord certificates evidencing the insurance coverage required by Section 18. Effective on the Added Space Commencement DateLease, and subject to rent adjustmentsParagraphs 4, Tenant shall pay to Landlord with respect to 5, 6 and 8 of the Added Space an annual Base Rent of Four Hundred Seventy-Five Thousand Three Hundred Forty-Five First Modification, and 00/100 Dollars ($475,345.00Paragraphs 5, 6, 7(b), in twelve (12) monthly installments of Thirty-Nine Thousand Six Hundred Twelve 8 and 08/100 Dollars ($39,612.08). On each anniversary 10 of the Added Space Commencement Date (each, an "Adjustment Date" for purposes of this Paragraph) the Base Rent with respect to the Added Space shall be increased by three percent (3%) over the Base Rent in effect immediately prior to such Adjustment Date (said amount due pursuant to this increase shall be the new Base Rent until the next Adjustment DateSecond Modification).