Common use of Amendment to Lease Clause in Contracts

Amendment to Lease. If Tenant timely exercises Tenant’s right to lease the Availability Premises or any portion thereof as set forth herein, then, within fifteen (15) days thereafter, Landlord and Tenant shall execute an amendment adding such Availability Premises to this Lease upon the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice, and provided that the terms of the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Date.

Appears in 4 contracts

Samples: Office Lease (Square, Inc.), Office Lease (Square, Inc.), Sublease (Reddit, Inc.)

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Amendment to Lease. If Within ten (10) business days after the proper exercise of the Expansion Option, Tenant timely exercises Tenant’s right and Landlord shall enter into a written amendment to lease the Availability Premises or any portion thereof as set forth hereinLease (the "Amendment") which shall provide, thenunless otherwise agreed in writing, within fifteen (15a) days thereafter, Landlord and Tenant shall execute an amendment adding such Availability Premises to this Lease upon the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice, and provided that the terms of the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability Amendment shall be effective the later of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during the first (1sti) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (21010) days after the later date of the delivery Amendment or (ii) the date by which all of the following have occurred: the prior tenant vacates the Available Space; Landlord has delivered legal possession of this Available Space to Tenant in substantially the condition set forth in Section 14.1 above; and Landlord has obtained the Availability Notice temporary certificate of occupancy, if required, from the appropriate governmental authorities required for the legal occupancy of the Available Space; (b) that the Demised Premises under the Lease shall be increased to include the rentable square feet of the Available Space; (c) the new Basic Annual Rent shall be increased, with the Available Space increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (d) Tenant's new Pro Rata Share of Operating Expenses shall be increased, based upon the addition of the Available Space to the Demised Premises; (e) the Security Deposit shall be increased (which shall be payable upon execution of the Amendment and shall be equal to one (1) month's Basic Annual Rent for said Available Space); and (f) the date number of parking spaces allocated to Tenant shall be increased proportionately. Provided Landlord delivers has delivered to Tenant within five (5) business days of Tenant's exercise of the Availability Premises Expansion Option, the Amendment in form reasonably satisfactory to Tenant, in the Delivery Condition event Tenant does not execute and deliver to Landlord the Amendment within the ten (10) day period stated herein, Tenant's Expansion Option as to the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime Available Space shall terminate until after the first (1st) anniversary of the Lease Commencement Dateit has been occupied by a new tenant, the Availability Premises Rent Commencement Date shall occur or is vacant for one hundred eighty (180) days after the Availability Premises Lease Commencement DateAvailable Space Notice is given, after which time the Expansion Option renews as to said Available Space. Landlord shall not be required to provide any tenant improvements for the Available Space. In all casesother respects, the lease term of the Availability Premises (or any portion thereof) Lease shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, remain in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date)full force and effect, and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as apply to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement DateAvailable Space.

Appears in 2 contracts

Samples: Letter Agreement (Senomyx Inc), Expansion Lease (Senomyx Inc)

Amendment to Lease. If Tenant timely exercises Tenant’s right to lease the Availability Premises or any portion thereof First Offer Space as set forth herein, then, within fifteen (15) days thereafter, Landlord and Tenant shall promptly thereafter execute an amendment adding such Availability Premises to this Lease for such First Offer Space upon the same terms and conditions as the Initial Premises, except as otherwise set forth in the First Offer Notice and this Section 1.4 or 1.3. Tenant shall commence payment of Rent for the Availability First Offer Space, and the term of the First Offer Space shall commence upon the date of delivery of the First Offer Space to Tenant in the condition required in the First Offer Notice (the “First Offer Commencement Date”) and, so long as at least two years then remain in the Lease Term, terminate on the Lease Expiration Date and shall otherwise be on the terms set forth in the First Offer Notice. If the term of the First Offer Space lease, as described in the First Offer Notice, and provided that the terms is for more than then-remaining Lease Term (without regard for any extension rights hereunder) and, by operation of the Tenant Work Letter shall not apply immediately preceding sentence the First Offer Space term is made to be co-terminus with respect to the Availability Premises (except Lease Expiration Date, then any Landlord economic concession such as otherwise provided a tenant improvement allowance set forth in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability the First Offer Notice shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be proportionately adjusted to reflect the addition shorter term hereunder (e.g. if the offered allowance were $150 per rentable square foot for a 10 year term, but only four years remain under the Lease Term, then the allowance would be reduced to an amount equal to 4/10ths of $150 per rentable square foot). If less than two years then remain in the Lease Term, Tenant may, in its exercise of its right of first offer in response to a First Offer Notice, elect to exercise any previously unexercised extension options under Section 2.2, below, for the purposes of extending the term of the entire Premises, including the First Offer Space, in which event the Lease Term, as so extended, shall end on the later to occur of the expiration date for the First Offer Space lease set forth in the First Offer Notice or the expiration of the otherwise applicable Option Term (i.e. if 18 months of Lease Term are remaining on the existing Premises and Tenant accepts a First Offer Notice for a five year term on the applicable First Offer Space, the applicable Option Term would be five years from the delivery of the First Offer Space rather than the shorter three year Option Term that would otherwise have applied with such Availability Premises extension under Section 2.2, below). Notwithstanding the foregoing or anything otherwise provided elsewhere herein to the Premises; providedcontrary, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent if Tenant timely exercises its right of first offer with respect to any portion of the Availability Premises during First Offer Notice prior to the first (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, then the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from for the applicable Availability Premises Rent Commencement Date, then the Lease Term First Offer Space shall be extended for a period of time sufficient for Tenant’s lease the same as the Rent applicable to the remainder of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Datesuch period.

Appears in 2 contracts

Samples: Lease (Jounce Therapeutics, Inc.), Lease (Jounce Therapeutics, Inc.)

Amendment to Lease. If Tenant timely exercises TenantIn its Entirety (except for the expansion of the Leased Premises and extension of the term of the Master Lease). Subtenant’s right maintenance and repair obligations shall be limited to lease the Availability interior, non-structural portions of the Subleased Premises and Subtenant shall have no obligation to make any capital or structural repairs or replacements at the Subleased Premises. Subtenant shall in no event (and Sublandlord shall) be obligated to perform or bear the cost of any portion thereof as set forth herein, then, within fifteen (15) days thereafter, Landlord work or repair of a capital or structural nature in connection with compliance with any laws or insurance requirements applicable to the Subleased Premises unless required solely due to Subtenant’s specific and Tenant unique use of the Subleased Premises. Subtenant’s indemnity obligations pursuant to Section 10.1 of the Original Lease shall execute an amendment adding such Availability Premises only apply to this Lease upon the same terms and conditions as the Initial Subleased Premises, except as otherwise . The waiver of subrogation set forth in this Section 1.4 or the Availability Notice, and provided that the terms 10.5 of the Tenant Work Letter Original Lease is specifically incorporated herein as applicable between Subtenant, Sublandlord and Master Landlord and each such party shall obtain acknowledgement of (and any necessary endorsements for) such waiver from such party’s insurance carriers. Sublandlord shall not apply with respect to voluntarily terminate the Availability Premises (Master Lease except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its a right of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date expressly set forth in the Availability Notice Master Lease, and Sublandlord shall not amend the date Master Lease in a manner materially adverse to Subtenant in any material respect and agrees to maintain the Master Lease during the entire term of this Sublease, except that Sublandlord can otherwise voluntarily terminate the Master Lease (including without limitation by agreement with Master Landlord), provided Master Landlord delivers agrees to recognize Subtenant as the Availability Premises direct tenant of Master Landlord under all terms and conditions contained in the Delivery Condition (Sublease for the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease remaining term of the Availability Premises Sublease. Sublandlord represents and warrants to Subtenant that: (or any portion thereofi) shall expire to Sublandlord’s actual acknowledge, no default exists on the Lease Expiration Datepart of any party to the Master Lease, subject to extension (ii) Sublandlord has neither given nor received a notice of this default under the Master Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and (iii) the base rental rate for Master Lease is the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 only agreement between Master Landlord and the Base Year shall be the year in which the Lease would have otherwise expired (if on Sublandlord and there are no modifications or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as amendments to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement DateMaster Lease.

Appears in 2 contracts

Samples: Sublease (Jounce Therapeutics, Inc.), Sublease (Jounce Therapeutics, Inc.)

Amendment to Lease. If Tenant timely exercises its option to lease the second or the third floor Expansion Space as provided herein, Landlord shall prepare an amendment to this Lease reflecting the addition of such Expansion Space to the Premises on all terms and conditions contained in this Lease otherwise applicable to the Premises including, without limitation, the Base Rent rates set forth in Section 1.1.M of this Lease; provided, however, that the parking ratio for any such Expansion Space located on the third (3rd) floor (as well as the parking ratio for any First Negotiation Space located on the third (3rd) floor) shall be based on four and one-quarter (4.25) Parking Permits for every one thousand (1,000) square feet of Usable Area in any such third (3rd) floor Expansion Space (and any such third (3rd) floor First Negotiation Space), twenty percent (20%) of which shall be reserved Parking Permits and eighty percent (80%) of which shall be unreserved Parking Permits (the “Third Floor Expansion/First Negotiation Space Parking Ratio”); provided further, however, that the parking ratio for any such Expansion Space located on any floor of the Building other than the third (3rd) floor (as well as the parking ratio for any First Negotiation Space located on any floor of the Building other than the third (3rd) floor) shall be based on four (4) Parking Permits for every one thousand (1,000) square feet of Usable Area in such other Expansion Space (and any such other First Negotiation Space), twenty percent (20%) of which shall be reserved Parking Permits and eighty percent (80%) of which shall be unreserved Parking Permits. Notwithstanding anything above to the contrary and upon Tenant’s prior written request, Landlord shall, in connection with Tenant’s lease of any such Expansion Space and First Negotiation Space, subject to availability (as such availability is determined by Landlord based on occupancy of the Parking Facility), provide Tenant with additional unreserved Parking Permits in the Parking Facility at the same rental rate (if any) as Tenant’s Parking Permits for unreserved parking specified in Section 1.1.P above; provided, however, that any such additional unreserved Parking Permits shall only be provided to Tenant, if at all, on a month-to-month basis and Landlord shall have the right, upon thirty (30) days prior written notice to Tenant, to recapture all or a portion of such additional Parking Permits heretofore provided to tenant. Landlord shall deliver two signed, counterpart originals of such amendment to Tenant within fifteen (15) days following Tenant’s delivery of the applicable Expansion Notice to Landlord for Tenant’s review and, provided that the amendment complies with the provisions of this Article 28, Tenant shall execute such amendment and deliver one counterpart of the same to Landlord within five (5) Business Days following Tenant’s receipt thereof. If Tenant timely exercises Tenant’s right to lease the Availability Premises or any portion thereof Expansion Space as set forth herein, thenDEL MAR GATEWAY [Xxxxxxx Investment Partners, within fifteen (15) days thereafter, Landlord and Tenant shall execute an amendment adding such Availability Premises to this Lease upon the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice, and provided that the terms of the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Lease Commencement Date, L.P.] Tenant shall commence payment of Availability Premises Rent rent for the Expansion Space and Excess as to such space to Landlord upon that date the term of the Expansion Space shall commence thirty (the “Availability Premises Rent Commencement Date”) which is two hundred ten (21030) days after the later of the delivery date set forth in the Availability Notice Expansion Space is deemed Available for Occupancy (and, for this purpose, Sections 3.2A and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary 3.2B of the Lease Commencement Date, shall apply to determine the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term commencement date of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of such space). The Lease Term of the Premises to be coterminous Expansion Space shall expire co-terminously with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability initial Premises) on the Availability Premises Lease Commencement Date.

Appears in 1 contract

Samples: Lease (Celladon Corp)

Amendment to Lease. If Tenant timely exercises Tenant’s right Notwithstanding the foregoing incorporation of the Master Lease, Sublessor shall not be responsible for the performance or the furnishing of any maintenance, repair, replacement or other obligations or services to lease be performed or furnished by Lessor under the Availability Premises Master Lease. Sublessor shall not be liable to Sublessee for any failure by Lessor to perform its obligations or to furnish any portion thereof services or utilities to be furnished by Lessor under the Master Lease, nor shall such failure by Lessor excuse performance by Sublessee of its obligations under this Sublease. Except as set forth hereinotherwise provided in this Sublease, then, within fifteen (15) days thereafter, Landlord Sublessee assumes and Tenant shall execute an amendment adding agrees to perform for the Benefit of Lessor and Sublessor the lessee's obligations under the Master Lease during the Term to the extent that such Availability Premises obligations are applicable to this Lease upon the same terms and conditions as the Initial Premises, except as otherwise set forth that the obligation to pay rent to Lessor under the Master Lease shall be considered performed by Sublessee to the extent and in the amount rent is paid to Sublessor in accordance with Section 6 of this Section 1.4 Sublease. Sublessee shall not commit or suffer any act or omission that will violate any of the Availability Noticeprovisions of the Master Lease. Sublessor shall exercise due diligence in attempting to cause Lessor to perform its obligations under the Master Lease for the benefit of Sublessee. In the event Lessor does not perform any of its obligations under the Master Lease which pertain to the Premises, and provided that Sublessor agrees at Sublessee's request to enforce the terms of the Tenant Work Letter Master Lease against Lessor, provided that Sublessor pays for all costs incurred by Sublessor in connection therewith, including actual attorneys' fees and court costs. If the Master Lease terminates, this Sublease shall not apply with respect terminate and the parties shall be relieved of any further liability or obligation under this Sublease, provided however, that if the Master Lease terminates as a result of a default or breach by Sublessor or Sublessee under this Sublease and/or the Master Lease, then the defaulting party shall be liable to the Availability Premises (except nondefaulting party for the damage suffered as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition a result of such Availability Premises termination. Notwithstanding the foregoing, if the Master Lease gives Sublessor any right to terminate the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Master Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease partial or total damage, destruction, or condemnation of the Availability Master Premises (which shall be thirty-six (36) months from or the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in building or project of which the Lease would have otherwise expired (if on Master Premises are a part, the exercise of such right by Sublessor shall not constitute a default or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights breach hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Date.

Appears in 1 contract

Samples: Sublease Agreement (Redback Networks Inc)

Amendment to Lease. If Tenant timely exercises Tenant’s right to lo lease the any Availability Premises or any portion thereof as set forth herein, then, within fifteen (( 15) days thereafter, Landlord and Tenant shall execute an amendment to this Lease adding such Availability Premises to this Lease upon the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice, and provided that the terms of the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the this Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined as set forth in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Lease Commencement Date, Notice. Tenant shall commence payment of Availability Premises Rent and Excess Tenant’s Share of Direct Expenses as to such space to lo Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two one hundred ten twenty (210120) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition to Tenant (the “Availability Premises Lease Commencement Date”). To , subject to adjustment for Landlord Delay and Force Majeure Delay, as said terms are defined in the extent Tenant exercises its right of availability with respect to any portion Work Letter (as if the applicable Availability Premises were the Premises, provided that the remainder of the Availability Premises anytime after the first (1st) anniversary terms of the Lease Commencement Date, Tenant Work Letter shall not be applicable to the construction of improvements in the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement DatePremises). In all cases, the lease term of the Availability Premises (or any portion thereofthe “Availability Term”) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in Tenant shall not have the event right to exercise its right of availability if the remaining Availability Premises Rent Commencement Date is anticipated to occur during the last three (3) years of the Lease Term Term; provided further, however, that if the Availability Premises Rent Commencement Date is anticipated to occur during the last three (3) years of the Lease Term, Tenant may either (i) if the Availability Premises is less than thirty-six a full floor ( or, on the concourse level, 50,000 rentable square feet), exercise its right of availability with respect to such Availability Premises for a term that expires five (365) months from years following the applicable Availability Premises Rent Commencement DateDate (i.e.; beyond the scheduled date of expiration for the remainder of the Premises), then or (ii) regardless of the size of the Availability Premises, exercise its right of availability if Tenant concurrently exercises its right to extend the Lease Term pursuant to Section 2.2 of this Lease, which Landlord agrees that Tenant shall be extended have the right to do notwithstanding the otherwise applicable dates for a period of time sufficient for Tenant’s lease of such exercise set forth in Section 2.2.1, below, provided such right has not expired and remains in full force and effect (in which event the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined entire Premises, including the Availability Premises, during the “Option Term” as that term is defined in accordance with Section 2.2.4 and the Base Year 2.2.1, below, shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence “Fair Rental Value,” as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Date.that term is defined in

Appears in 1 contract

Samples: Office Lease (Airbnb, Inc.)

Amendment to Lease. If Tenant timely exercises Tenant’s right to lease the Availability Premises or any portion thereof Right of First Offer as set forth herein, then, within fifteen (15) days thereafterthereafter (or, if the First Offer Rent is determined by arbitration, within fifteen (15) days after such determination), Landlord and Tenant shall execute an amendment adding such Availability Premises to this Lease (the “ROFO Lease Amendment”) for such Offer Space upon the same terms and conditions as the Initial Premises, except as otherwise set forth in the First Offer Notice (i.e., Rent, square footage and any allowances for the Offer Space) and this Section 1.4 or the Availability Notice, and provided that the terms of the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above)1.3; provided, however, an otherwise valid exercise of Tenant’s right Right of availability First Offer shall be of full force and effect irrespective of fully effective whether such or not a lease amendment is ever signed by Landlord executed. Tenant shall commence payment of Rent for such Offer Space, and Tenant. Except to the extent inconsistent with term of such Offer Space (the determination of Availability Premises Rent, all provisions “First Offer Term”) shall commence upon such commencement date (the “First Offer Commencement Date”) and expire upon the date that is the expiration of the Lease which vary based upon Term. Landlord shall use reasonable efforts to deliver the rentable and usable square footage of Offer Space to Tenant in the Premises shall be adjusted to reflect condition required by Section 1.3.4 above on the addition of such Availability Premises to the PremisesROFO Target Delivery Date; provided, however, if Landlord is unable to deliver possession of the L-C Amount Offer Space to Tenant on the ROFO Target Delivery Date for any reason whatsoever, neither the ROFO Lease Amendment nor Tenant’s obligation to lease the Offer Space hereunder shall be increased pursuant void or voidable, nor shall any such delay in delivery of possession of the Offer Space operate to extend the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer Lease Term with respect to any portion the Offer Space or the balance of the Availability Premises during Premises, or amend the first (1st) year after First Offer Commencement Date or Tenant’s other obligations with respect to the Offer Space or under the Lease (but the Rent payable for the Offer Space shall be abated for the period from the scheduled First Offer Commencement Date, Tenant shall commence payment of Availability Premises Rent Date through and Excess as to such space to Landlord upon that date (including the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date set forth in the Availability Notice and day preceding the date Landlord delivers possession of the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”Offer Space to Tenant). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement DatePARK PLACE AT BAY XXXXXXX ZS Pharma, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Date.Inc.

Appears in 1 contract

Samples: Office Lease (ZS Pharma, Inc.)

Amendment to Lease. If Tenant timely exercises Tenant’s right of first refusal to lease the Availability Premises or any portion thereof First Refusal Space as set forth herein, then, within fifteen (15) days thereafter, Landlord and Tenant shall within thirty (30) days thereafter execute an amendment adding such Availability Premises to this Lease (a “First Refusal Space Amendment”) for such First Refusal Space pursuant to this Section 1.3. Tenant’s lease of such First Refusal Space shall be upon the same express terms set forth in the First Refusal Notice, but otherwise upon the terms and conditions as the Initial Premises, except as otherwise set forth in this Lease and this Section 1.4 or the Availability Notice1.3. Tenant shall commence payment of Rent for such First Refusal Space, and provided that the terms term of such First Refusal Space shall commence upon such commencement date as is set forth in the Refusal Terms (the “First Refusal Commencement Date”), and shall terminate on the Tranche II Lease Expiration Date; provided, however, notwithstanding the foregoing or anything set forth in this Lease to the contrary, the minimum lease term for Tenant’s lease of any First Refusal Space shall be five (5) years, and accordingly, if the Tranche II Lease Expiration Date is less than five (5) years from the First Refusal Commencement Date, Tenant’s lease of the First Refusal Space will extend beyond Tenant’s lease of the Tranche II Premises under this Lease. Any economic concessions set forth in the Refusal Terms shall be equitably adjusted to account for any difference in term set forth in the Refusal Terms and the actual term of Tenant’s leasing of such First Refusal Space as determined in accordance with this Section 1.3.4. The First Refusal Space Amendment, if applicable, shall be executed by Landlord and Tenant Work Letter shall not apply with respect within thirty (30) days following Tenant’s exercise of its right to lease the Availability Premises (except as otherwise provided in Section 1.4.5, above)First Refusal Space; provided, however, an otherwise valid exercise of Tenant’s right of availability first refusal shall be of full force and effect irrespective of whether such amendment the First Refusal Space Amendment is ever timely signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Date.

Appears in 1 contract

Samples: Service Agreement (Twilio Inc)

Amendment to Lease. If Tenant timely exercises Tenant’s right to lease In the Availability Premises or any portion thereof as set forth herein, then, within fifteen (15) days thereafter, Landlord and Tenant shall execute an amendment adding such Availability Premises to this Lease upon the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice, and provided that the terms of event the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant properly exercises its right of first offer with respect refusal or its option to any portion lease the Expansion Space hereunder, the Landlord shall prepare and the Tenant shall promptly execute an amendment to this Lease which shall provide as follows: (i) the incorporation of the Availability Expansion Space into the Premises during leased hereunder; (ii) an increase in the first (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later amount of the delivery date set forth Rent payable under this Lease as provided above; (iii) a tenant improvement allowance by the Landlord for the Expansion Space in the Availability Notice and the date Landlord delivers the Availability Premises amount of $10.00 per rentable square foot in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, Expansion Space in the event the remaining Term of this Lease is four (4) or more Lease Years or in the amount of $8.00 per rentable square foot in the event the remaining Term is at least three (3) but less than thirty-six four (364) months from Lease Years or in the applicable Availability Premises Rent Commencement Date, then amount of $6.00 per rentable square foot in the event the remaining Term is at least two (2) but less than three (3) Lease Years or in the amount of $4.00 per rentable square foot in the event the remaining Term shall be extended is at least one (1) but less than two (2) Lease Years; (iv) the commencement date for a period of time sufficient for Tenant’s the lease of the Premises to Expansion Space shall be coterminous with upon the substantial completion and acceptance by the Tenant’s lease , which acceptance shall not be unreasonably withheld or delayed, of the Availability Premises tenant improvements (which if any) to the Expansion Space; and (v) such other provisions as may be required by the Landlord that are consistent with the provisions hereof. The Landlord shall be thirty-six have the right to rescind and cancel the Tenant's exercise of its right of first refusal or option hereunder if the Tenant fails to execute and return the foregoing amendment to the Landlord within twenty (3620) months from the applicable Availability Premises Rent Commencement Date)business days after receipt thereof, and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31)event such right of first refusal and option granted hereby shall automatically terminate and be null and void. This extension shall have no impact on Tenant’s extension rights hereunderNOTICE: THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR AN ACCEPTANCE OF AN OFFER TO LEASE THE PREMISES. THIS DOCUMENT SHALL NOT BE BINDING ON ANY PERSON OR ENTITY UNLESS AND UNTIL IT IS DULY EXECUTED BY, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement DateDELIVERED TO AND ACCEPTED BY EACH PARTY TO THIS DOCUMENT.

Appears in 1 contract

Samples: Agreement of Lease (Natural Solutions Corp)

Amendment to Lease. If Tenant timely exercises Tenant’s right of first refusal to lease the Availability Premises or any portion thereof tease First Refusal Space as set forth herein, then, within fifteen (15) days thereafter, Landlord and Tenant shall within thirty (30) days thereafter execute an amendment adding such Availability Premises to this Lease (the “First Refusal Space Amendment”) for such First Refusal Space pursuant to this Section 3.2.2. Tenant’s lease of such First Refusal Space shall be upon the same express terms set forth in the First Refusal Notice, but otherwise upon the Terms and conditions as the Initial Premises, except as otherwise set forth in this Lease and this Section 1.4 or the Availability Notice, and provided that the terms of the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above)3.2; provided, however, an otherwise valid exercise Landlord shall make a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit or guaranty, for Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent rent obligations incurred in connection with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of such First Refusal Space. Notwithstanding the Premises to foregoing, Landlord may, at its sole option, require that a separate lease be coterminous executed by Landlord and Tenant in connection with Tenant’s lease of the Availability Premises First Refusal Space, in which event such lease (which the “First Refusal Space Lease”) shall be thirty-six (36) months from on the applicable Availability Premises Rent Commencement Date)same Terms and conditions as the initial Premises, except as provided in this Section 3.2 and in this Lease, including, but not limited to, Landlord’s right to make a determination as to whether, and the base rental rate if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit or guaranty, for the Premises during this extended period Tenant’s rent obligations incurred in connection with Tenant(1) s lease of such First Refusal Space. Such determination shall be adjusted made by reviewing the extent of financial security then generally being imposed in comparable leases in the Comparable Buildings upon tenants of comparable financial condition and credit history to Market Rent the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the Premises determined in accordance with Section 2.2.4 then-existing financial condition of Tenant and the Base Year such other tenants). The First Refusal Space Lease, if applicable, shall be the year in which the Lease would have otherwise expired executed by Landlord and Tenant within thirty (if on or before July 3130) or the days following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at exercise of its right to lease the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement DateFirst Refusal Space.

Appears in 1 contract

Samples: Office Lease and Settlement Agreement (Peregrine Systems Inc)

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Amendment to Lease. If Tenant timely exercises Tenant’s 's right to lease the Availability Premises or any portion thereof as set forth hereina First Offer Space, thenthen Landlord and Tenant shall, within fifteen (15) days thereafterafter the date on which the First Offer Rent has been determined pursuant to Section 1.3.3 above, Landlord and Tenant shall execute an amendment adding such Availability Premises to this Lease for such First Offer Space upon the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice, and provided that the terms of the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Datesubject First Offer Notice, subject to extension the determination of the First Offer Rent as pursuant to this Section 1.3, and otherwise upon the terms and conditions of this Lease; provided, however, that an otherwise valid exercise of the such Offer Right shall be fully effective and irrevocable upon exercise whether or not a lease amendment is executed. In the event that the First Offer Rent shall not have been determined pursuant to the terms hereof prior to the commencement of the First Offer Space Term (as defined below), Tenant shall be required to pay the First Offer Rent set forth in Landlord’s First Offer Rent Notice provided by Landlord to Tenant, and upon the final determination of the First Offer Rent in accordance with Section 2.2.4, the payments made by Tenant shall be reconciled with the actual amounts due, and the appropriate party shall make any corresponding payment to the other party. Notwithstanding any contrary provision of this Section 1.3, the rentable square footage of the subject First Offer Space shall be determined by Landlord in accordance with Landlord’s then current standard of measurement for the Building (which, as of the date of this Lease is Office Building: Standard Methods of Measurement and Calculating Rentable Area – 2010 (Method A) or (Method B), as applicable), and shall not be subject to remeasurement during the initial Lease Term. Tenant shall commence payment of rent for the subject First Offer Space, and the term of Tenant's lease of the applicable First Offer Space (the “First Offer Space Term”) shall commence (the “First Offer Commencement Date”), upon the date set forth in the First Offer Notice (but in no event prior to the remaining Lease Term earlier to occur of (i) the date that is less than thirty-six one hundred twenty (36120) months from days after Landlord’s delivery of the applicable Availability Premises Rent Commencement Datesubject First Offer Space to Tenant; or (ii) the date on which Tenant commences conduct of business in the First Offer Space) and, then so long as the Lease Term shall be extended for a period term of time sufficient for Tenant’s lease of the Premises to be coterminous subject First Offer Space would exceed four (4) years, shall terminate conterminously with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease TermTerm (as the same may be extended), it being agreed that the term length and termination date set forth in the subject First Offer Notice shall otherwise govern. This Lease shall commence as Notwithstanding anything to the Availability Premises contrary herein, in no event shall Tenant be required to accept delivery of any First Offer Space prior to the Anticipated First Offer Delivery Date for such First Offer Space. In the event the First Offer Commencement Date with respect to a particular First Offer Space has not occurred on or before the date that is two hundred forty (240) days after the Anticipated First Offer Delivery Date (the “Required First Offer Delivery Date”), Tenant, as its sole remedy, may terminate this Lease, solely with respect to the undelivered portion of the First Offer Space (the “Undelivered First Offer Space”), by giving Landlord written notice of termination on or before the earlier to occur of: (i) five (5) business days after the Required First Offer Delivery Date; and references to Premises shall include (ii) the applicable Availability Premises) on the Availability Premises Lease First Offer Commencement Date. In such event, (A) Landlord shall promptly refund any prepaid rent previously advanced by Tenant therefor and (B) the Undelivered First Offer Space shall again be deemed to be a Potential First Offer Space and subject to the TCCs of this Section 1.3. Landlord and Tenant acknowledge and agree that: (i) the determination of the date on which Landlord tenders possession of the First Offer Space shall be delayed on a day for day basis for each day to the extent such delay is caused by the acts or omissions of Tenant or any Tenant Parties (including without limitation, any failure of Tenant to timely deliver any additional insurance certificate or security required to be delivered with the First Offer Space, as applicable); and (ii) the Required First Offer Delivery Date shall be postponed by the number of days Landlord’s delivery of the First Offer Space is delayed due to events of Force Majeure.

Appears in 1 contract

Samples: Office Lease (Okta, Inc.)

Amendment to Lease. If The Plaza – Axos 0000 Xxxxxxxxx Xxxxx 3 D. It is understood that the Preliminary Plan and the Working Drawings and Specifications, together with any Changes thereto, shall be subject to the prior approval of Landlord which approval shall not be unreasonably withheld, conditioned or delayed, provided that such Changes do not affect the Building systems or structural components. Landlord shall identify any disapproved items within 3 business days (or 2 business days in the case of Changes) after receipt of the applicable document. Should Landlord approve work that would necessitate any ancillary Building modification or other reasonable out-of-pocket expenditure by Landlord, then except to the extent of any remaining balance of the Landlord Contribution (as the same may be increased by the Additional Allowance) as described below, Tenant timely exercises shall, in addition to its other obligations herein, promptly fund the cost thereof to Landlord after receipt of an itemized invoice from Landlord setting forth the related costs and the basis thereof in reasonable detail. E. Upon approval of the Working Drawings and Specifications, Landlord shall submit them to competitive bid as provided above. Each bidding contractor shall use the electrical, mechanical, plumbing and fire/life safety engineers and subcontractors designated by Landlord. All other subcontractors shall be subject to Landlord’s reasonable approval, and Landlord may require that one or more designated subtrades be union contractors. The lowest responsible bidder shall be selected as Landlord’s general contractor and the bid amount shall be deemed the “Final Cost Estimate” for purposes hereof. F. In the event that Tenant requests in writing a revision in the approved Working Drawings and Specifications (“Change”), then provided such Change is acceptable to Landlord in its sole but reasonable discretion (provided that in no event shall any Change affect the Building systems or structural components), Landlord shall advise Tenant by written, itemized change order as soon as is practical of any increase in the Completion Cost and/or any Tenant Delay such Change would cause. Tenant shall approve or disapprove such change order in writing within 2 business days following its receipt from Landlord. Tenant’s right approval of a Change shall be accompanied by Xxxxxx’s payment of any resulting increase in the Completion Cost if and when the Landlord Contribution (as the same may be increased by the Additional Allowance) has been fully utilized. It is understood that Landlord shall have no obligation to lease interrupt or modify the Availability Premises Tenant Improvement work pending Tenant’s approval of a change order. G. Notwithstanding any provision in the Lease to the contrary, if Landlord, its representatives and/or its consultants timely provide the submittals provided herein and Tenant fails to comply with any of the time periods specified in this Work Letter, fails otherwise to approve or reasonably disapprove any portion thereof as set forth submittal within 3 business days, fails to approve or reasonably disapprove in writing the Preliminary Plan by the Plan Approval Date, fails to provide all of the Programming Information requested by Landlord by the Plan Approval Date, fails to approve or reasonably disapprove in writing the Working Drawings and Specifications within the time provided herein, thenrequests any Changes, within fifteen (15) days thereafterfails to make timely payment of any sum due hereunder, Landlord and Tenant shall execute an amendment adding such Availability Premises to this Lease upon furnishes inaccurate or erroneous specifications or other information, or otherwise delays in any manner the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice, and provided that the terms completion of the Tenant Work Letter Improvements (including without limitation by specifying materials that are not readily available provided that Landlord promptly provides Tenant notice of such unavailability) or the issuance of an occupancy certificate (any of the foregoing being referred to in this Amendment as “Tenant Delay”), then Tenant shall not apply with respect bear any resulting additional construction costs, and the Commencement Date for Suite 400 shall be deemed to the Availability Premises (except as otherwise provided in Section 1.4.5have occurred for all purposes, above); provided, however, an otherwise valid exercise of including Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except obligation to the extent inconsistent with the determination of Availability Premises pay Rent, all provisions as of the Lease which vary based upon the rentable and usable square footage of date Landlord reasonably determines that it would have been able to deliver the Premises shall to Tenant but for the collective Tenant Delays. Should Landlord determine that the Commencement Date should be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined advanced in accordance with the terms foregoing, it shall so notify Tenant in writing including the basis of Section 1.2 such determination. Xxxxxxxx’s determination shall be conclusive unless Tenant notifies Landlord in writing, within 10 business days thereafter, of this LeaseTenant’s election to contest same by binding arbitration with the American Arbitration Association under its Arbitration Rules for the Real Estate Industry, and judgment on the arbitration award may be entered in any court having jurisdiction thereof. To Pending the extent Tenant exercises its right outcome of first offer with respect to any portion of the Availability Premises during the first (1st) year after the Lease Commencement Datesuch arbitration proceedings, Tenant shall commence make timely payment of Availability Premises all Rent and Excess as to such space to Landlord due under the Lease based upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date Date for Suite 400 set forth in the Availability Notice foregoing notice from Landlord. X. Xxxxxxxx shall permit Tenant and its agents to enter the date Landlord delivers Premises 45 days prior to the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent estimated Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or for Suite 400 in order that Tenant may perform any portion thereof) shall expire on the Lease Expiration Datework to be performed by Tenant hereunder through its own contractors, subject to extension of this Lease; providedLandlord’s prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed, and in a manner and upon terms and conditions and at times reasonably satisfactory to Landlord’s representative. The foregoing license to enter the Premises prior to the Commencement Date for Suite 400 is, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for conditioned upon Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Date.’s

Appears in 1 contract

Samples: Axos Financial, Inc.

Amendment to Lease. If Tenant timely exercises Tenant’s right Lessee elects to lease the Availability Premises or any portion thereof as set forth herein, then, within fifteen (15) days thereafter, Landlord and Tenant shall execute an amendment adding such Availability Premises to this Lease upon the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice, and provided that the terms of the Tenant Work Letter shall not apply with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined space in accordance with ------------------ Sections 1 above, Lessor shall submit a lease amendment to Lessee within five (5) business days after receiving Xxxxxx's notice of such election. Lessee shall have five (5) business days after receipt of the terms of Section 1.2 amendment to execute and return same to Lessor. If the amendment accurately reflects the provisions of this Lease. To Exhibit and is not executed by Xxxxxx and returned to Lessor within such time period, the extent Tenant exercises its right of first offer granted herein with respect (and only with respect) to the particular space then being offered shall terminate automatically and without further notice. The amendment shall only amend the particular lease paragraphs or provisions which are affected. EXHIBIT "O": Satellite Dish/Antenna ----------------------------------- Lessor agrees to allow Lessee to install and operate during the term of the lease a single (one) communications antenna or satellite dish and appurtenant equipment on the roof of the parking garage adjacent to the Building. Such antenna must conform to the specifications and drawings, and be in the location designated by Lessor, on Exhibit "O-1" attached to this Exhibit "O". Such ------------- ----------- antenna may not be placed on any other portion of the Availability Premises during the first (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later roof of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to parking garage, including, without limitation, any portion thereof that is exclusively for the use of any third party or other tenant of the Availability Premises anytime after Building. Such antenna shall be further subject to all applicable laws, regulations and ordinances, the first (1st) anniversary rights of other tenants of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject Building to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date)install such equipment, and the base rental rate obligation of Lessor to maintain the general appearance of the project, including the roof-top of the parking garage. Lessee shall ensure that such antenna does not interfere with any communications equipment or other equipment of Lessor, other tenants in the Building or of other antenna licensees. In the event of any such interference, Lessee shall take all steps necessary to cause such interference to cease, including, if necessary, removal of such antenna. Lessee shall pay as additional rent for such antenna or satellite dish the Premises during this extended period sum of Two Hundred Fifty and No/100 Dollars ($250.00) per month, and the cost of the installation of any such antenna or satellite dish shall be adjusted to Market Rent borne solely by Lessee. Lessee shall indemnify Lessor for the Premises determined in accordance with Section 2.2.4 any liens, damage, loss, cost, expense and liability incurred as a result of such antenna and the Base Year operation thereof and all costs or expenses incurred by Lessor in connection with the installation or use of such communications antenna or satellite dish. Xxxxxx agrees that Xxxxxx's antenna will be directed to the southwest and will be pointed upward approximately 20 degrees from the horizon. Lessor covenants that it will not obstruct the site-line of Lessee's satellite dish with other antennas or improvements on the parking garage roof and shall be not permit the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end obstruction by other tenants of the extended Lease Term. This Lease shall commence as to building or antenna licensees upon the Availability Premises (and references to Premises shall include parking garage roof of the applicable Availability Premises) on the Availability Premises Lease Commencement Datesite-line of Lessee's satellite dish.

Appears in 1 contract

Samples: Office Lease (Drkoop Com Inc)

Amendment to Lease. If Tenant timely exercises Tenant’s right to lease the Availability Premises or any portion thereof First Offer Space as set forth hereinin this Section 1.5, then, within fifteen (15) days thereafter, Landlord and Tenant shall execute an amendment adding such Availability Premises First Offer Space to this Lease upon the same terms and conditions as the Initial initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice1.5, and provided that the terms of the Tenant Work Letter parties’ failure to execute an amendment shall not apply affect each party’s respective rights and obligations with respect to the Availability Premises exercised right of first offer. In the event that Landlord and Tenant arbitrate the First Offer Rent pursuant to the terms of Section 2.2.3 of this Lease and, pursuant to such arbitration, the First Offer Rent is determined to be the First Offer Rent submitted by Tenant, Landlord and Tenant shall, within fifteen (except as otherwise provided in 15) days following the date upon which Landlord and Tenant receive the final determination of the arbitrators, execute an amendment to this Lease setting forth the applicable First Offer Rent (Landlord and Tenant hereby acknowledging that, pursuant to the terms of Section 1.4.52.2.3.7 of this Lease, abovebelow, Tenant shall be required to pay, and the amendment to the Lease shall be based upon, the First Offer Rent submitted to arbitration by Landlord until such final determination is made by the arbitrators); provided, however, an otherwise valid exercise . For purposes of calculating Tenant’s right obligations under Article 4 of availability this Lease, Tenant’s Share of Building Direct Expenses shall be increased by an amount equal to the rentable square footage of full force and effect irrespective such First Offer Space leased by Tenant pursuant to this Section 1.5 divided by the total rentable square footage of whether such amendment is ever signed by Landlord and Tenantthe Building. Except to the extent inconsistent with the determination of Availability Premises First Offer Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises First Offer Space to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect Subject to any portion of contrary terms in the Availability Premises during the first (1st) year after the Lease Commencement DateFirst Offer Notice, Tenant shall commence payment of Availability Premises First Offer Rent with respect to the First Offer Space to Landlord, and Excess as to such space to Landlord the term of the First Offer Space shall commence upon that date (the “Availability Premises Rent First Offer Commencement Date”) which is two hundred ten the earlier to occur of (210i) the date upon which Tenant first commences to conduct business in the First Offer Space, and (ii) the date occurring that number of days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises First Offer Space to Tenant as shall be granted to Tenant for construction of improvements in the Delivery Condition First Offer Space (the “Availability Premises Lease Commencement DateROFO Construction Period”), which shall be considered as a factor in determining the First Offer Rent as shall, notwithstanding the provisions of Section 2.2.2 below, the time period of rental abatement, if any, granted to tenants in comparable transactions in connection with the design, permitting and construction of tenant improvements in such comparable spaces. To The ROFO Construction Period shall reflect a reasonable amount of time to permit Tenant to design and construct improvements in the extent Tenant exercises its right of availability First Offer Space consistent with respect to any portion the quality of the Availability Premises anytime after improvements in the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Dateinitial Premises. In all cases, the The lease term of the Availability Premises (or any portion thereof) First Offer Space shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in as the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which same may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Dateextended.

Appears in 1 contract

Samples: Office Lease (Trulia, Inc.)

Amendment to Lease. If Tenant timely exercises Tenant’s 's right to lease the Availability Premises or any portion thereof FHS Expansion Space as set forth herein, then, within fifteen (15) days thereafter, Landlord and Tenant shall promptly thereafter execute an amendment adding such Availability Premises to this Lease memorializing Tenant's lease of the FHS Expansion Space upon the same terms and conditions as the Initial Premises, except as otherwise set forth in this Section 1.4 or 1.6. Such amendment shall modify (i) the Availability Noticedefinition of "Buildings" set forth in Section 6.1 of the Summary to include in such definition the building in which the FHS Expansion Space is located if such FHS Expansion Space is located in any building which is other than Building C, and provided that (ii) such other provisions of this Lease as is reasonably necessary to cause any terms and conditions set forth in this Lease to also apply to the building in which the FHS Expansion Space is located if not located in Building C. Notwithstanding the foregoing, in lieu of such an amendment to this Lease, Landlord may, at its election, provide for Tenant's lease of the FHS Expansion Space in a separate lease, independent from this Lease, upon all of the terms and conditions contained in this Section 1.6 and any other provisions of the Tenant Work Letter this Lease (excluding Section 14.8 of this Lease which shall not apply with respect to the Availability Premises (except as otherwise provided in FHS Expansion Space) which do not conflict with this Section 1.4.51.6 and are applicable to the FHS Expansion Space, above); provided, however, an otherwise valid exercise and Tenant shall execute such separate lease promptly following Landlord's delivery of Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed by Landlord and same to Tenant. Except to the extent inconsistent Further, Tenant agrees that in connection with the determination Landlord's financing, transfer or sale of Availability Premises Rent, all provisions or any portion of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; providedReal Property, howeveror for any other reason determined by Landlord, the L-C Amount shall be increased pursuant to the terms of Section 21.7 Landlord may, at any time after execution of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with remove this Section 1.6 (and Landlord's obligations hereunder) from this Lease and instead include the terms of Section 1.2 provisions of this Lease. To Section 1.6 and Landlord's obligations and Tenant's rights hereunder in a separate written agreement independent from this Lease (which separate agreement shall, at Landlord's election, only pertain to such portions of the extent Real Property [which may be less than the entire Real Property] owned by Landlord and designated by Landlord to be the property upon which Landlord shall provide the FHS Expansion Space to Tenant if Tenant exercises its right of first offer with respect to any portion of lease the Availability Premises during the first (1st) year after the Lease Commencement Date, FHS Expansion Space hereunder). Tenant shall commence payment of Availability Premises Rent promptly execute such separate agreement, as well as an amendment to this Lease deleting this Section 1.6 therefrom (and Excess as otherwise modifying this Lease to such space delete any references to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (210) days after the later of the delivery date set forth in the Availability Notice Section 1.6 and the date FHS Expansion Space), following Landlord's election and submission of such documents to Tenant, provided that the form and substance of such separate agreement and amendment to Lease are reasonably acceptable to Tenant. Landlord delivers agrees that the Availability Premises execution of any such separate agreement or separate lease described hereinabove shall not relieve Landlord of its obligations to pay any brokerage commissions to Tenant's Broker (as defined in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To Section 25.25 below) to the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the lease term of the Availability Premises (or any portion thereof) shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease Landlord would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on been obligated to pay such commissions to Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as 's Broker pursuant to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement DateSection 25.25 had such separate agreement and/or separate lease not been so executed.

Appears in 1 contract

Samples: Office Lease (Foundation Health Systems Inc)

Amendment to Lease. If Tenant timely exercises Tenant’s right to lease the Availability Premises or any portion thereof Expansion Space as set forth hereinin this Section 1.4, then, within fifteen (15) days promptly thereafter, Landlord and Tenant shall execute an amendment adding such Availability Premises Expansion Space to this Lease upon the same terms and conditions as the Initial initial Premises, except as otherwise set forth in this Section 1.4 or the Availability Notice1.4, and provided that the terms of the Tenant Work Letter parties’ failure to execute an amendment shall not apply affect each party’s respective rights and obligations with respect to the Availability Premises (except as otherwise provided in Section 1.4.5, above); provided, however, an otherwise valid exercise exercised expansion option. For purposes of calculating Tenant’s right obligations under Article 4 of availability this Lease, Tenant’s Share of Building Direct Expenses shall be increased by an amount equal to the rentable square footage of full force and effect irrespective such Expansion Space leased by Tenant pursuant to this Section 1.4 divided by the total rentable square footage of whether such amendment is ever signed by Landlord and Tenantthe Building. Except to the extent inconsistent with the determination of Availability Premises Expansion Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises Expansion Space to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease. Tenant shall commence payment of Expansion Rent with respect to the Expansion Space to Landlord, below. The rentable square footage and the term of such Availability Premises the Expansion Space shall be commence upon that date (the “Expansion Space Commencement Date”) which is the earlier to occur of (i) the date upon which Tenant first commences to conduct business in the Expansion Space, and (ii) the date that the Expansion Space is Ready for Occupancy as determined in accordance with the terms of Section 1.2 of this Leasethe Tenant Work Letter. To In connection with the extent foregoing, Tenant exercises hereby agrees that Tenant shall (i) complete and deliver the Final Space Plan for tenant improvements in any Expansion Space within sixty (60) days after its right of first offer with respect to any portion delivery of the Availability Premises during applicable Expansion Exercise Notice; (ii) deliver Final Working Drawings for such Expansion Space within ninety (90) days after its delivery of the first applicable Expansion Exercise Notice; and (1stiii) year after deliver Permits in connection with the Lease Commencement Date, commencement and completion of the Tenant shall commence payment of Availability Premises Rent and Excess as to Improvements in such space to Landlord upon that date Expansion Space within thirty (the “Availability Premises Rent Commencement Date”) which is two hundred ten (21030) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”)Final Working Drawings are approved by Landlord. To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Commencement Date. In all cases, the The lease term of the Availability Premises (or any portion thereof) Expansion Space shall expire on the Lease Expiration Date, subject to extension of this Lease; provided, however, in as the event the remaining Lease Term is less than thirty-six (36) months from the applicable Availability Premises Rent Commencement Date, then the Lease Term shall be extended for a period of time sufficient for Tenant’s lease of the Premises to be coterminous with Tenant’s lease of the Availability Premises (which shall be thirty-six (36) months from the applicable Availability Premises Rent Commencement Date), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which same may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Dateextended.

Appears in 1 contract

Samples: Office Lease (Trulia, Inc.)

Amendment to Lease. If Tenant timely exercises Tenant’s right to lease the Availability Premises or any portion thereof Third Expansion Space as set forth herein, thenLandlord and Tenant shall, within fifteen (15) days thereafterafter the date of Tenant’s Third Expansion Notice, Landlord and Tenant shall execute an amendment adding such Availability Premises Third Expansion Space to this the Lease upon the same terms and conditions as the Initial initial Premises, except as otherwise set forth in this Section 1.4 or Paragraph 53(c) and except that Tenant shall not be entitled to the Availability NoticeAbated Rent set forth in Paragraph 1(c), Tenant’s Share shall be increased to take into account the addition of the Third Expansion Space to the Premises, and provided that the terms number of parking spaces allocated to Tenant shall be increased to take into account the addition of the Tenant Work Letter shall not apply with respect Third Expansion Space to the Availability Premises Premises. Tenant shall commence payment of Rent for the Third Expansion Space and the term of the Third Expansion Space shall commence upon the date of delivery of the Third Expansion Space to Tenant (except as otherwise provided in Section 1.4.5, abovethe “Third Expansion Space Commencement Date”); provided, however, an otherwise valid exercise of that Landlord will xxxxx Tenant’s right of availability shall be of full force and effect irrespective of whether such amendment is ever signed obligation to pay Base Rent (but not any other Rent) payable by Landlord and Tenant. Except to the extent inconsistent with the determination of Availability Premises Rent, all provisions of the Lease which vary based upon the rentable and usable square footage of the Premises shall be adjusted to reflect the addition of such Availability Premises to the Premises; provided, however, the L-C Amount shall be increased pursuant to the terms of Section 21.7 of this Lease, below. The rentable square footage of such Availability Premises shall be determined in accordance with the terms of Section 1.2 of this Lease. To the extent Tenant exercises its right of first offer with respect to any portion of the Availability Premises during for the first ninety (1st) year after the Lease Commencement Date, Tenant shall commence payment of Availability Premises Rent and Excess as to such space to Landlord upon that date (the “Availability Premises Rent Commencement Date”) which is two hundred ten (21090) days after the later of the delivery date set forth in the Availability Notice and the date Landlord delivers the Availability Premises in the Delivery Condition (the “Availability Premises Lease Commencement Date”). To the extent Tenant exercises its right of availability with respect to any portion of the Availability Premises anytime after the first (1st) anniversary of the Lease Commencement Date, the Availability Premises Rent Commencement Date shall occur one hundred eighty (180) days after the Availability Premises Lease Third Expansion Space Commencement Date. In all cases, the lease The term of the Availability Premises (or any portion thereof) Third Expansion Space shall expire on the Lease Expiration DateDate (subject, subject however, to extension Paragraphs 47 and 49 of this Lease; provided). Notwithstanding anything above to the contrary, howeverThe rights contained in this Paragraph 53 shall be personal to the Original Tenant and any Permitted Assignee, may only be exercised by the Original Tenant and any Permitted Assignee (and not any other assignee, sublessee or other transferee of the Original Tenant’s (or Permitted Assignee’s) interest in the event the remaining Lease Term is this Lease) if Original Tenant or such Permitted Assignee occupies no less than thirty-six (36) months from 50% of the entire Premises as of the date of the Expansion Exercise Notice. Tenant shall not have the right to lease any Expansion Space as provided in this Paragraph 53, if, as of the date of the applicable Availability Premises Rent Commencement DateExpansion Notice, then the Lease Term shall be extended for a period of time sufficient for Tenantor, at Landlord’s lease option, as of the Premises scheduled date of delivery of such Expansion Space to be coterminous with Tenant’s lease , Tenant is in default under this Lease (beyond the expiration of the Availability Premises (which shall be thirty-six (36) months from the all applicable Availability Premises Rent Commencement Datenotice and cure periods), and the base rental rate for the Premises during this extended period shall be adjusted to Market Rent for the Premises determined in accordance with Section 2.2.4 and the Base Year shall be the year in which the Lease would have otherwise expired (if on or before July 31) or the following year (if after July 31). This extension shall have no impact on Tenant’s extension rights hereunder, which may be exercised at the end of the extended Lease Term. This Lease shall commence as to the Availability Premises (and references to Premises shall include the applicable Availability Premises) on the Availability Premises Lease Commencement Date.

Appears in 1 contract

Samples: Office Building Lease (Veracyte, Inc.)

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