Common use of Commencement Date Clause in Contracts

Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 2 contracts

Samples: Lease Agreement (Agile Therapeutics Inc), Lease Agreement (Agile Therapeutics Inc)

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Commencement Date. The Commencement Date of this Lease shall be Commencing on the later of earliest to occur of: (a) December 1, 2021, and (bi) the date upon on which occurs the Substantial Completion Tenant occupies any portion of the Base Building 4th Floor Space or the 6th Floor Space, as the case may be; (ii) the date on which the 4th Floor Work or the 6th Floor Work (subject to the penultimate sentence of this paragraph belowas defined herein) and Landlord’s Work is Substantially Completed (as defined in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be Exhibit B attached hereto); or (iii) the date on which the Landlord’s 4th Floor Work and Base Building Representations or the 6th Floor Work, as the case may be, would have been Substantially Completed, Completed but for the occurrence of any Tenant Delay Days (as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Capdefined in Exhibit B attached hereto) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter such dates referred to herein as the “Base Building Representations4th Floor Space Commencement Date” or “4FSCD” and the “6th Floor Space Commencement Date” or “6FSCD) ), and expiring on the Expansion Space Expiration Date (as defined below), Tenant shall lease the 4th Floor Space as depicted on Exhibit A-l attached hereto and the 6th Floor Space as depicted on Exhibit A-2 attached hereto, all subject to and in accordance with the following modifications terms and conditions of the Lease, as amended hereby. As used herein, the “4th Floor Work” and the “6th Floor Work” shall mean and refer to those certain improvements to the Building’s HVAC system: 4th Floor Space and the boiler providing heat to 6th Floor Space, as the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably ablecase may be, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two performed by Landlord in accordance with the terms of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) abovethis Amendment and Exhibit B hereto, including the above modifications Connecting Stairwell and/or a Light Well, as provided in Exhibit B hereto. The 4th Floor Work and the 6th Floor Work shall be collectively referred to the Building’s HVAC system, collectively, herein as the “Base Building Expansion Space Work”). Notwithstanding .” In connection with the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Expansion Space Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications perform certain improvements to the BuildingExisting Premises, as indicated in the Expansion Space Plans (as defined below) approved by the parties. For purposes of this Amendment, such improvements shall be included in the definition of the Expansion Space Work. Tenant hereby acknowledges that Landlord will be performing the Expansion Space Work during the Term (as extended hereby), and Tenant shall not be entitled to any additional abatement or reduction of Rent or any other amount payable under the Lease in connection therewith, nor shall the Expansion Space Work be deemed an eviction, actual or constructive, of Tenant. Tenant shall at all times cooperate reasonably and in good faith in connection with Xxxxxxxx’s HVAC system on or prior prosecution of the Expansion Space Work, including, without limitation, by granting Landlord access to December 1, 2021the Existing Premises and the Expansion Space and by promptly responding to matters arising in connection with the Expansion Space Work.

Appears in 2 contracts

Samples: Office Building Lease (Marqeta, Inc.), Office Building Lease (Marqeta, Inc.)

Commencement Date. (a) As herein used, the phrase “commencement date” shall mean the earlier of: (i) the day Tenant opens for business in the demised premises, or (ii) one hundred twenty (120) days after Landlord has delivered to Tenant possession of the demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the demised premises to Tenant with Landlord’s Work (as set forth on Exhibit “B”, attached hereto and made a part hereof) completed between July 1, 2006 and October 15, 2006 (the “Delivery Period”). Landlord shall give Tenant notice (the “Estimated Delivery Notice”) no later than July 1, 2006 of the status of Landlord’s construction and the estimated date that Landlord shall deliver the Premises to Tenant with Landlord’s Work substantially completed (the “Estimated Delivery Date”). Landlord may, but is under no obligation, to revise the Estimated Delivery Date any time prior to thirty (30) days prior to the Estimated Delivery Date (the “Final Delivery Notice Date”), by which time Landlord shall have given Tenant a final notice (the “Final Delivery Notice”) of a firm delivery date (the “Final Delivery Date”) upon which the Landlord’s Work shall be substantially completed and the demised premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. However, if Landlord has not delivered a Final Delivery Notice by the Final Delivery Notice Date, then the Estimated Delivery Notice shall be the Final Delivery Notice and the Estimated Delivery Date shall be the Final Delivery Date. The Final Delivery Date shall not be earlier than (i) thirty (30) days after the date Tenant receives the Final Delivery Notice, or (ii) the first day of the Delivery Period. If Landlord does not deliver the demised premises to Tenant as required herein by October 15, 2006, Tenant may defer delivery until January 2, 2007. If Landlord does not deliver the demised premises to Tenant thereafter on or before July 1, 2007, Tenant may terminate this Lease. Notwithstanding the foregoing, if Landlord’s failure to deliver the demised premises to Tenant on or before July 1, 2007 is due to an event of force majeure which occurs on or after May 1, 2007, Tenant may not exercise its right to terminate the Lease pursuant to this Section 3(a) for an additional ninety (90) day period. In the event that the demised premises and Landlord’s Work are not substantially completed and delivered to Tenant on or before the Final Delivery Date, the minimum rent due hereunder shall be adjusted so that, after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (1) day of minimum rent for each day after the Final Delivery Date until delivery of the demised premises is made to Tenant consistent with the terms of this Lease Lease, including substantial completion of the Landlord’s Work (“Late Delivery Credit”). In the event Landlord does not provide to Tenant a Final Delivery Notice as required herein and the demised premises and Landlord’s Work is not substantially completed and delivered to Tenant on or before the Final Delivery Date, the Late Delivery Credit shall not exceed One Hundred Fifty Thousand Dollars and 0/00 ($150,000.00). Tenant shall not be obligated to accept possession of the demised premises prior to the later of (a) December 1substantial completion of Landlord’s Work, 2021, and (b) the date upon which occurs the Substantial Completion first day of the Base Building Work Delivery Period and (subject to c) the penultimate sentence Final Delivery Date. Time is of the essence regarding all dates set forth in this paragraph below) and Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work in accordance with Law. If at the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by demised premises so that Tenant Delays, then the Commencement Date shall be the date the Landlordmay obtain a building permit for Tenant’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part commence performance of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcsame.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease (Retail Ventures Inc)

Commencement Date. (Section 3.1): The Commencement Date of this Lease shall be the later of earlier to occur of: (a) December 1, 2021, and (bi) the date upon which occurs the Substantial Completion (as herein defined) of the Base Building Improvements (as defined in the Tenant Work Letter attached hereto as Exhibit B (subject the "Tenant Work Letter")) has occurred in the entire Premises, and (ii) August 1, 2012 (which August 1, 2012 will be extended by one (1) day for each day Tenant is actually delayed in designing, permitting and constructing the Improvements as a result of an event of Force Majeure (as defined in Section 25.25 hereof) and/or a Landlord Delay (as defined in Section 3.5 of the Tenant Work Letter), but no such extension will continue beyond the date upon which Tenant actually begins to conduct its business in the penultimate sentence Premises for the permitted use set forth in Section 1.17 of this paragraph below) and Landlord’s Work in accordance with LawLease. If For purposes of determining the Commencement Date, "Substantial Completion Completion" of the Base Building Representations Improvements in the Premises shall occur upon completion of the following: (i) a final certificate of occupancy (or its equivalent) has been obtained from the City of Farmers Branch, Texas, and Landlord’s Work is delayed by Tenant Delays, then (ii) substantial completion of construction of the Commencement Date shall be Improvements in the date Premises in substantial conformance with the Landlord’s Work and Base Building Representations would have been Substantially Completed, Approved Working Drawings (as reasonably estimated by Landlord, without defined in Section 3.4 of the Tenant DelaysWork Letter) has occurred. Notwithstanding the foregoing or anything to the contrary contained hereinin this Lease, Landlord represents and Tenant hereby acknowledge and agree that Tenant will at Tenant's sole election construct the Improvements in the Premises pursuant to a phased construction schedule and in connection with such phased construction, Tenant that on shall have the right to commence business from portions of the Premises (the "Early Occupancy Space") during the period (the "Early Occupancy Period") from date of substantial completion of the Improvements (if any) relating to such Early Occupancy Space until the Commencement Date and as part Date, provided that (a) a temporary certificate of occupancy (or its equivalent or other governmental action (e.g,. a final sign-off by the Building Inspector for the portion of the Base Building Work at Landlord’s cost Improvements) shall have been issued by the appropriate governmental authorities for the Early Occupancy Space (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaksor portion thereof), and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) all of the Demised Premises will terms and conditions of this Lease shall apply, including Tenant's obligation to pay separately for reserved parking fees pursuant to the Parking Addendum attached as Exhibit C to this Lease, during the Early Occupancy Period (if any), except that Tenant's obligation to pay monthly Base Rent shall be free proportionately reduced to equal an amount equal to the monthly installment of annual rate per rentable square foot (i.e., $1.83) times the rentable area (based upon the BOMA Standard) within the Early Occupancy Space (as the same may exist from asbestos time to time during the Early Occupancy Period) as mutually and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be reasonably agreed upon in good working order, faith by Landlord and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcTenant.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Office Lease (Copart Inc)

Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date which is ninety (90) days after the date that the Landlord’s 's Work and Base Building Representations would have been Substantially Completed, [as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part defined in Subparagraph 1(a) of the Base Building Work at Landlord’s cost Letter Agreement attached hereto as Exhibit "C" (and not part of Landlord’s Cap) "Work Letter Agreement")] has been substantially completed (i) the Demised Premises and Building Structure will be structurally sound and free from leaksas defined below); provided, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoinghowever, the Commencement Date shall occur once may be advanced or extended as follows: (i) if substantial completion of the Landlord’s 's Work is Substantially Completed even though delayed as a result of any Tenant Delays (as defined in the Base Building Work Letter Agreement), then the Commencement Date, as would otherwise have been established as set forth in this sentence, shall be advanced by the number of days of such Tenant Delays; and (ii) if Tenant is not Substantially Completed delayed in the substantial completion of the Tenant Improvements beyond the ninety (90) day period set forth in this sentence as long a result of Landlord Delays (as defined in the Base Building Representations are true on Work Letter Agreement), then for each day of such delay the Commencement Date shall be extended by one (1) day. For purposes of this Lease, the Landlord's Work shall be deemed to be "substantially completed" when Landlord's contractor certifies in writing ("Landlord's Work Substantial Completion Certificate") to Landlord and Tenant that Landlord has commenced substantially performed all of the Base Building Landlord's Work required to be performed by Landlord under the Work Letter Agreement other than minor "punch-list" type items and is working diligently adjustments which do not materially interfere with Tenant's access to Substantially Complete the Base Building WorkPremises. Subject to any Force Majeure, manufacturer delivery delaysWithin seven (7) days after Tenant receives the Landlord's Work Substantial Completion Certificate, Tenant Delay or township delays shall be entitled to have its architect inspect the Landlord's Work for purposes of confirming the matters set forth in approving plansthe Landlord's Work Substantial Completion Certificate, issuing permits, inspecting work, etc.,, provided Tenant shall give Landlord at least forty-eight (48) hours' prior written notice of such inspection. Landlord shall be entitled to have its contractor, architect and/or other representatives present during such inspection by Tenant's architect. If Tenant fails to have its architect inspect the Landlord's Work within the aforesaid seven (7) day period, it shall be deemed that Tenant has waived its right to make such inspection. For purposes of this Lease, substantial completion of the Tenant Improvements shall occur on the date that the Tenant Improvements have been substantially completed in accordance with the Final Tenant Improvement Plans and Specifications (hereafter defined in Subparagraph 3(b) of the Work Letter Agreement) other than decoration and minor "punch-list" type items and adjustments which do not materially interfere with Tenant's use commercially reasonable efforts to Substantially Complete the above modifications to of the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Office Building Lease (Kana Communications Inc)

Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained in the Lease, Tenant shall have an ongoing option (the "Acceleration Option") to accelerate the Commencement Date of all or any portion of Increment 4 that is not then subject to a lease or any right of first offer, right of first refusal, renewal or extension option, or any other right or option in favor of any other party. Tenant shall exercise the Acceleration Option by providing Landlord with notice thereof (each, an "Acceleration Notice"), in which Tenant shall designate the location and rentable square footage of the Increment 4 space requested by Tenant (the "Accelerated Increment 4 Space") and the commencement date with respect to Tenant's lease thereof (which shall not be less than 90 days from the date of Tenant's notice nor more than 120 days from the date of Tenant's notice). Tenant shall have no right to designate any Accelerated Increment 4 Space that is not then separately demised as a leaseable unit of space, nor may Tenant designate as Accelerated Increment 4 Space less than the entire rentable area of any floor of the Building (or less than the entire rentable area on the north or south wing of any floor) if such floor (or wing) is not then constituted as a multi-tenant floor (or wing) (i.e., if the entire rentable area of any floor or wing is available for lease, Tenant's Acceleration Notice shall apply to all, and not less than all, of the entire rentable area of such floor or wing), unless in each such case Tenant, at Tenant's sole cost and expense, performs all work necessary to separately demise the Accelerated Increment 4 Space and to create entrances to the remaining leasable units of space on such floor or wing, and, to the extent not then existing, to create a multi-tenant corridor on such floor or wing so that the entrances to the remaining leasable units of space are accessible. In addition, if Tenant shall designate as Accelerated Increment 4 Space less than the entire rentable area of any floor of the Building (or less than the entire rentable area on the north or south wing of any floor), by notice to Tenant given within ten (10) Business Days after Landlord's receipt of tenant Acceleration Notice, Landlord shall have the right to nullity Tenant's exercise of its Acceleration Option if the remaining space on such floor or wing, as applicable, would be of such size or configuration as not to be reasonably leasable by Landlord, as reasonably determined by Landlord. If Landlord is delayed delivering possession of the Accelerated Increment 4 Space due to the holdover or unlawful possession of such space by any party, Landlord shall use reasonable efforts to obtain possession of the space, and the commencement of the term for the Accelerated Increment 4 Space shall be postponed until the date Landlord delivers possession of the Accelerated Increment 4 Space to Tenant free from occupancy by any party. If Tenant exercises the Acceleration Option granted herein, Landlord represents shall use reasonable efforts to deliver the Accelerated Increment 4 Space to Tenant that on the Commencement Date and as part stated availability date for the lease thereof. Tenant acknowledges that Landlord does not guarantee that the Accelerated Increment 4 Space will be available on the stated availability date for the lease thereof, if the then existing occupants of the Base Building Work Accelerated Increment 4 Space shall hold over, or delivery is delayed for any other reason beyond Landlord's reasonable control, and in such event, as Tenant's sole recourse, the term of the Lease as respects the Accelerated Increment 4 Space shall not commence until Landlord delivers the same to Tenant; provided, however, that if Landlord shall not deliver the Accelerated Increment 4 Space to Tenant within ninety (90) days of the stated availability date for the lease thereof, as such ninety (90) day period shall be extended for any delay due to Limited Force Majeure (as defined in Section 4 of the Lease), Tenant shall have the right to terminate its lease of the Accelerated Increment 4 Space by notice thereof to Landlord given within ten (10) Business Days after the expiration of such ninety (90) day period as so extended. Upon Tenant's election to lease the Accelerated Increment 4 Space, Landlord and Tenant shall promptly enter into an amendment to the Lease (including modification of the Premises Table set forth in Section 1.02 of the Lease, and Schedule 1 and Section 1.04 of the Lease, as appropriate in each case), adding such Accelerated Increment 4 Space to the Premises at Landlord’s cost (the Rent and not part of Landlord’s Cap) on the other terms and conditions applicable to Increment 4 as set forth in the Lease, except as expressly provided above, and except further that (i) the Demised Premises and Building Structure will Rent Commencement Date shall be structurally sound and free from leaks, and ninety (90) days after the Demised Premises will be demised, broom clean, and in compliance with LawCommencement Date of such Accelerated Increment 4 Space, (ii) the Demised Premises will Allowance for the Accelerated Increment 4 Space shall be free from asbestos pro-rated to reflect the Lease Term with respect to the Accelerated Increment 4 Space as set forth on Schedule 3 attached hereto, and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate pursuant to clause (ii) of Occupancy permitting Section I.F. of the Permitted UseWork Letter, (iv) in addition to the Common Areas will be in good working orderAllowance, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to not as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,a deduction therefrom, Landlord shall use commercially reasonable efforts reimburse Tenant up to Substantially Complete Two and 5011 00 Dollars ($2.50) per rentable square foot of the above modifications to the Building’s HVAC system on or prior to December 1, 2021Accelerated Increment 4 Space.

Appears in 1 contract

Samples: Lease (Zulily, Inc.)

Commencement Date. The Commencement Date of this Lease Date” shall be the later of (a) December mean May 1, 2021. Notwithstanding the foregoing, in the event that Landlord does not deliver possession of the Leased Premises to Tenant in broom clean condition with a temporary occupancy certificate allowing Tenant to occupy the office and biology lab portions of the Leased Premises on or prior to May 15, 2021 (such date, which shall be extended for Tenant Delays to the extent Tenant’s actions causing such Tenant Delays occur after the Effective Date, the “Estimated Interim Turnover Date”), then Tenant shall be entitled to an abatement of Base Rent equal to the daily Annual Base Rent previously paid for each day in the period beginning on the day following the Estimated Interim Turnover Date and ending on the date that Landlord delivers possession of the Leased Premises to Tenant in broom clean condition with a temporary occupancy certificate allowing Tenant to occupy the office and biology lab portions of the Leased Premises, which abatement shall be in addition to any other abatement, free rent periods or other rental concessions to which Tenant may be entitled under the Lease (as amended hereby). Tenant acknowledges that, following the Commencement Date, Landlord will still be performing work within the Leased Premises during normal business hours to achieve Substantial Completion, and (b) the date upon which occurs the Substantial Completion that such work shall not constitute a constructive eviction or otherwise be in violation of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawLease. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date Landlord shall be the date cause the Landlord’s Work and the Tenant Improvements to be Substantially Complete on or prior to June 15, 2021 (such date, which shall be extended for Tenant Delays to the extent Tenant’s actions causing such Tenant Delays occur after the Effective Date, the “Estimated Final Turnover Date”). In the event that Landlord fails to cause Substantial Completion of the Landlord’s Work and the Tenant Improvements on or prior to the Estimated Final Turnover Date, then Tenant shall be entitled to an abatement of Base Building Representations would have been Rent equal to the daily Annual Base Rent previously paid for each day in the period beginning on the day following the Estimated Final Turnover Date and ending on the date that the Landlord’s Work and the Tenant Improvements are Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will which abatement shall be in good working orderaddition to any other abatement, and free rent periods or other rental concessions to which Tenant may be entitled under the Lease (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”amended hereby). Notwithstanding the foregoing, Tenant shall have the right to enter the Leased Premises as of the Effective Date for the purposes of installing cabling, wiring, telephone equipment, fixtures, furniture, and equipment to facilitate Tenant’s move-in and start-up of business operations, so long as any such entry is coordinated with Landlord and Landlord’s contractors and such entry and installations do not unreasonably interfere with the work being performed by Landlord’s workmen or contractors in the Leased Premises. No such entry shall be deemed Tenant’s possession of the Leased Premises, or otherwise affect the occurrence of the Commencement Date Date. In any such event, the Tenant’s workmen and contractors shall occur once take reasonable steps to minimize interference with any work being simultaneously performed by the Landlord’s Work is Substantially Completed even though workmen or contractors in the Base Building Work is not Substantially Completed as long as Leased Premises. In the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently event of any unreasonable interference prior to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,Substantial Completion, Landlord shall use commercially reasonable efforts have the right to Substantially Complete provide written notice to Tenant of such interference, and Tenant shall cause its workmen and contractors to cease such interference or cease performing such work until Landlord’s workmen and contractors have completed their work. Any such early entry into and occupancy of the above modifications Leased Premises by Tenant or any person or entity working for or on behalf of Tenant shall be deemed to be subject to all of the Building’s HVAC system on or prior terms, covenants, conditions and provisions of the Lease, including, without limitation, providing certificate(s) of insurance required under this Lease, excluding only the covenant to December 1, 2021pay Rent (defined herein).

Appears in 1 contract

Samples: Lease Agreement (NeuBase Therapeutics, Inc.)

Commencement Date. The "Commencement Date of this Lease shall Date" will be the later earlier to occur of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised date Tenant takes occupancy of the Phase 1 Premises and Building Structure will be structurally sound and free from leaksfor the purposes of conducting its business, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, five (iii5) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, days after Landlord has Substantially Completed (ivas hereinafter defined) the Common Areas will be in Tenant Finish Work for the Phase 1 Premises. Landlord shall use all reasonable and good working order, and (v) faith efforts to have the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , Tenant Finish Work with the following modifications respect to the Building’s HVAC system: the boiler providing heat Phase 1 Premises Substantially Completed on or before September 1, 2008. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Building will Phase 1 Premises is not Substantially Completed on or before September 1, 2008, Tenant shall be replaced; the 30 ton RTU providing cooling entitled to a one day abatement of Basic Rent with respect to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Phase 1 Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building for each day thereafter that Tenant Finish Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently up to Substantially Complete the Base Building WorkOctober 31, 2008. Subject to any Force Majeure, manufacturer delivery delays, a Tenant Delay or township delays an Excusable Delay, if Tenant Finish Work with respect to the Phase 1 Premises is not Substantially Completed on or before November 1, 2008, then in approving plansaddition to the abatement in Basic Rent provided in the immediately preceding sentence, issuing permitsTenant shall be entitled to a two (2) day abatement of Basic Rent with respect to the Phase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, inspecting work2008. Subject to a Tenant Delay or an Excusable Delay, etc.,if Tenant's Finish Work with respect to the Phase 1 Premises is not Substantially Completed on or before January 1, 2009, then in addition to the abatement in Basic Rent provided in the two immediately preceding sentences, Tenant shall be entitled to a four (4) day abatement of Basic Rent with respect to the Phase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed. Any such accrued abated amounts shall be credited against the first and subsequent installments of Basic Rent coming due under this Lease for Premises until the entire abated amount has been fully credited. Landlord shall use commercially all reasonable and good faith efforts to Substantially Complete have the above modifications Tenant Finish Work with respect to the Building’s HVAC system Phase 2 Premises Substantially Completed on or prior before September 1, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 2 Premises is not Substantially Completed on or before September 1, 2009, Tenant shall be entitled to a one day abatement of Basic Rent with respect to the Phase 2 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to October 31, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 2 Premises is not Substantially Completed on or before November 1, 2009, then in addition to the abatement in Basic Rent provided in the immediately preceding sentence, Tenant shall be entitled to a two (2) day abatement of Basic Rent with respect to the Phase 2 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant's Finish Work with respect to the Phase 2 Premises is not Substantially Completed on or before January 1, 20212010, then in addition to the abatement in Basic Rent provided in the two immediately preceding sentences, Tenant shall be entitled to a four (4) day abatement of Basic Rent with respect to the Phase 2 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed. Any such accrued abated amounts shall be credited against the first and subsequent installments of Basic Rent coming due under this Lease for Premises until the entire abated amount has been fully credited. Landlord shall use all reasonable and good faith efforts to have the Tenant Finish Work with respect to the Phase 3 Premises Substantially Completed on or before September 1, 2010. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 3 Premises is not Substantially Completed on or before September 1, 2010, Tenant shall be entitled to a one day abatement of Basic Rent with respect to the Phase 3 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to October 31, 2010. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 3 Premises is not Substantially Completed on or before November 1, 2010, then in addition to the abatement in Basic Rent provided in the immediately preceding sentence, Tenant shall be entitled to a two (2) day abatement of Basic Rent with respect to the Phase 3 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, 2010. Subject to a Tenant Delay or an Excusable Delay, if Tenant's Finish Work with respect to the Phase 3 Premises is not Substantially Completed on or before January 1, 2011, then in addition to the abatement in Basic Rent provided in the two immediately preceding sentences, Tenant shall be entitled to a four (4) day abatement of Basic Rent with respect to the Phase 3 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed. Any such accrued abated amounts shall be credited against the first and subsequent installments of Basic Rent coming due under this Lease for Premises until the entire abated amount has been fully credited.

Appears in 1 contract

Samples: Lease Agreement (Medicines Co /De)

Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject Subject to the penultimate sentence of this paragraph below) terms and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained conditions set forth herein, Landlord represents hereby leases and demises to Tenant and Tenant hereby takes and leases from Landlord that certain space identified in Article 1 and shown on a plan attached hereto as Exhibit A (“Premises”) for a term (“Term”) commencing on the Commencement Date and ending on the Expiration Date set forth in Article 1, unless sooner terminated as part provided herein. The Commencement Date set forth in Article 1 shall be advanced to such earlier date as Tenant commences substantial occupancy of the Base Building Work at Landlord’s cost Premises (and as defined in Article 1) for the conduct of its business (it being understood that interim, phased occupancy of less than a substantial portion of the Premises during the construction of the Tenant Improvements shall not part trigger the Commencement Date). Upon the earlier of Landlord’s Cap) (i) substantial completion of the Demised Premises and Building Structure will Tenant Improvements, the date of which shall be structurally sound and free from leaksestablished by Landlord’s construction supervisor, and the Demised Premises will be demised, broom clean, and in compliance with Law, or (ii) the Demised date by which Tenant has substantially occupied the Premises will as provided in Article 1.H set forth above, Landlord shall execute and deliver to Tenant the Commencement Date Confirmation in the form as set forth in Exhibit E, which Tenant shall execute and return to Landlord within 5 days after receipt thereof. Tenant’s failure to timely execute and deliver the Commencement Date Confirmation shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, without exception. If Tenant disagrees with any matters set forth in the Commencement Date Confirmation, it shall set forth in a written notice to Landlord within such five-day period the matters which it disagrees with, the reasons for such disagreement, and the Commencement Date which Tenant contends should be free from asbestos established. Landlord shall have five days thereafter to accept or reject Tenant’s proposed Commencement Date. If Landlord rejects such date, then the date set forth in the initial Commence Date Confirmation executed and other Hazardous Materials in violation delivered by Landlord shall be used for the purposes hereof until the matter is resolved by legal proceedings or further agreement of existing Lawthe Parties. To the extent the Premises includes an entire floor of the Building, (iii) there will be a valid temporary or permanent Certificate Tenant shall have exclusive use of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etclocated within such floor.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease (Medivation, Inc.)

Commencement Date. The Commencement Date terms and provisions of this Lease shall be effective as of the later date of this Lease. The term of this Lease (athe "Term") December 1shall be for the duration set forth in Section 1.3 hereof and shall commence on the date set forth in Section 1.3.2 of this Lease (the "Commencement Date") and shall terminate on the date set forth in Section 1.3.3 of this Lease, 2021unless sooner terminated pursuant to the terms of this Lease. For purposes of this Lease, the term "Lease Year" shall mean each consecutive twelve (12) month period during the Term. Notwithstanding the definition of the Commencement Date for the Premises set forth in Section 1.3.2, above, Tenant shall have the right to commence business operations from any portion of the Premises (such space, the "Pre- Occupancy Space") during the "Pre-Occupancy Period," as that term is defined below, provided that (i) Tenant shall give Landlord at least ten (10) days prior notice of any such use of the Premises, and (bii) a certificate of occupancy or its equivalent permitting occupancy shall have been issued by the appropriate governmental authorities for the Pre- Occupancy Space. If Tenant does commence business operations from any Pre- Occupancy Space prior to the occurrence of the Lease Commencement Date, all of the terms and conditions of this Lease shall apply to that portion of the Premises containing the Pre-Occupancy Space, except that Tenant shall have no obligation to pay Basic Rent or Tenant's Share of Expenses during the period commencing on the date upon which occurs Tenant commences business operations from the Substantial Completion applicable Pre-Occupancy Space and continuing until the Lease Commencement Date (the "Pre-Occupancy Period"). Following Tenant's possession of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Premises, Tenant Delays, then shall confirm the Commencement Date upon Landlord's delivery to Tenant of an instrument in the form set forth on Exhibit B attached hereto. Tenant shall execute and return such instrument within ten (10) days after written request from Landlord. This Lease shall be a binding contractual agreement effective upon the date of execution hereof by both Landlord and Tenant, notwithstanding the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part later commencement of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)Term. Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc4.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Office Lease (Activision Inc /Ny)

Commencement Date. The "Space A Commencement Date of this Lease Date" shall be one hundred twenty (120) days after the later date possession of Space A (aexclusive of the 189 s.f. storage closet which constitutes a portion thereof) is tendered to Tenant, except as may otherwise be provided in Exhibit C, including with regard to delay in Substantial Completion of Tenant's Work due to Landlord Delays (as defined in Exhibit C). If possession of Space A is tendered to Tenant on December 1, 20211998, and then the Space A Commencement Date shall, subject to Landlord Delays, be April 1, 1999. The "Space B Commencement Date" shall be one hundred twenty (b120) days after the date upon which occurs the possession of Space B is tendered to Tenant, except as may otherwise be provided in Exhibit C, including with regard to delay in Substantial Completion of the Base Building Tenant's Work due to Landlord Delays (subject to the penultimate sentence as defined in Exhibit C). Occupancy of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion any portion of the Base Building Representations and Landlord’s Work is delayed Premises by Tenant Delays, then prior to the Commencement Date for such portion shall be at Tenant's sole risk and deemed pursuant to, and subject to, all of the terms and provisions of this Lease, except those involving the payment of Base Rent, and Tenant's Share of Expense Increases and Tax Increases (as such terms are hereinafter defined), except as may otherwise be expressly set forth herein; provided, however, that in no event shall Tenant be entitled to take occupancy thereof prior to the date it receives notice from Landlord that Landlord is ready to tender possession thereof to Tenant. Promptly after the Landlord’s Work Space A Commencement Date, Landlord and Base Building Representations would have been Substantially CompletedTenant hereby agree to execute a Declaration, in the form attached hereto as Exhibit B, to confirm the Space A Commencement Date. Promptly after the Space B Commencement Date, Landlord and Tenant hereby agree to execute a Declaration, in the form attached hereto as Exhibit B, to confirm the Space B Commencement Date. Tenant's failure to execute either Declaration shall not affect either Commencement Date nor the Lease Expiration Date, as reasonably estimated same are determined by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part terms of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcthis Lease.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease (Net2000 Communications Inc)

Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject Notwithstanding anything to the penultimate sentence of this paragraph below) and Landlord’s Work contrary contained in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant DelaysLease, then the Commencement Date shall be the date which is thirty-eight (38) days prior to the date of substantial completion of Landlord’s 's Work and Base Building Representations (other than the "punchlist" items as set forth in Section 1.6 of Exhibit D to the Lease). For purposes of determining the Commencement Date as set forth in the immediately preceding sentence, the date of substantial completion of Landlord's Work shall be deemed to be the date that substantial completion of Landlord's Work would have been Substantially Completedoccurred but for any Tenant Delay that occurs after the date of this First Amendment (i.e., as reasonably estimated for each day of such Tenant Delay the date of substantial completion of Landlord's Work shall be moved forward by Landlord, without the one (1) day and specifically excluding any claim of Tenant Delays. Notwithstanding anything Delay arising prior to the contrary contained herein, date of this First Amendment pursuant to the releases provided in Section 4 of this First Amendment below). Landlord represents shall provide written notice to Tenant that promptly upon the occurrence of substantial completion of Landlord's Work as set forth above (the "Landlord's Work Completion Notice") and upon receipt of such Landlord's Work Completion Notice, the Parties' shall promptly schedule and perform a walk-through inspection of Landlord's Work in the Premises to identify any "punchlist" items all in accordance with and pursuant to Section 1.6 of Exhibit D to the Lease. All Basic Rental and Xxxxxx's Proportionate Share of the Estimate of the Direct Costs for the period commencing on the Commencement Date and as part through the last day of the Base Building Work at Landlord’s cost first (and not part of Landlord’s Cap1st) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the full month following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date (less any amounts of Basic Rental and Direct Costs already received by Landlord including pursuant to Article 1(J) of the Lease) shall occur once be due and payable by Tenant to Landlord within five (5) business days after Xxxxxx's receipt of the Landlord’s 's Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcCompletion Notice.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease (Crinetics Pharmaceuticals, Inc.)

Commencement Date. The Commencement Date of this the Lease shall be the later earlier of the date on which: (i) Tenant takes possession of any portion of the Premises in order to conduct business thereon; (ii) the Premises would have been Ready for Occupancy but for Tenant Delays (as defined in the Improvement Agreement attached hereto as Exhibit B); or (iii) the Premises are Ready for Occupancy, but, in the case of (aii) December 1, 2021, and (b) iii), in no event before the Estimated Commencement Date. The Premises shall be deemed “Ready for Occupancy” on the date upon which occurs the Substantial Completion of the Base Building Work substantial completion (subject to the penultimate sentence as defined herein) of this paragraph below) and all Landlord’s Work to be constructed by Landlord in accordance with Lawthe Premises (but not the Cafeteria and Fitness Center, which Tenant acknowledges shall not be substantially completed until after the Commencement Date), except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Uses. If Tenant shall, within ten (10) days after receipt of demand, execute and deliver to Landlord a Commencement Date Memorandum in the Substantial Completion form attached hereto as Exhibit C acknowledging the actual Commencement Date of this Lease. For purposes of this Lease, “substantial completion’ shall mean the date by which all of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date following have occurred: (i) Landlord has substantially completed the Landlord’s Work (other than the Cafeteria and Base Building Representations would have been Substantially Completed, as reasonably estimated the Fitness Center) in accordance with Exhibit B of this Lease; (ii) Landlord has delivered possession of the Premises and the Landlord’s Work (other than the Cafeteria and the Fitness Center) to Tenant; and (iii) Landlord has obtained a temporary certificate of occupancy from the appropriate governmental authorities required for the legal occupancy of the Premises by Landlord, without the Tenant DelaysTenant. Notwithstanding anything to the contrary contained hereinin this Lease, Landlord represents if the Cafeteria and Fitness Center are not Ready for Occupancy by October 1, 2002 (which date shall be subject to extension for Tenant Delays and up to ninety (90) days of Force Majeure Delays (as defined in Exhibit B), for each day thereafter that on either the Commencement Date and Cafeteria or the Fitness Center are not Ready for Occupancy, Tenant shall receive as part of the a credit against Base Building Work at Landlord’s cost Rent (and not part of Landlord’s Capas defined in Section 3.1 below) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps liquidated damages in the Demised Premises found not to be functioning will be repaired or replaced; two amount of the three cooling towers will be retrofitted with new water treatment systems Five Hundred Dollars (two have been retrofitted already$500.00) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcper day.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease Agreement (Palm Inc)

Commencement Date. The Commencement Date Date” of this the Lease Term shall be upon Landlord’s Substantial Completion of Landlord’s Improvement Work. As used herein, the later term “Substantial Completion” shall mean that the Leased Premises are (i) completed in accordance with the Final Approved Plans and Specifications (which shall be evidenced by the Temporary Certificate of Occupancy, which permits the conduct of Tenant’s Permitted Use or if Tenant is the cause of a Certificate of Occupancy not being issued, the completion of Landlord’s Improvement Work for the Temporary Certificate of Occupancy is confirmed by a Certificate of Substantial Completion provided by the Project Architect); (aii) December 1, 2021, free from any and all mechanics’ lien claims arising out of all work in connection therewith (other than claims filed as a result of bona fide disputes between Northern Builders and its subcontractors or material suppliers which Northern Builders is diligently contesting and which Landlord indemnifies and holds Tenant harmless from and against any such mechanics’ lien claims); and (biii) sufficiently completed and free from construction defects so that Tenant is able to occupy the Leased Premises for the Permitted Use (notwithstanding Punch List Items). “Punch List Items” means uncompleted or improperly completed items of the Landlord Improvement Work or the Leased Premises which in the aggregate do not materially interfere with Tenant’s Permitted Use and occupancy of the Leased Premises for the conduct of the Permitted Use and which Landlord will have completed no later than thirty (30) days after the Commencement Date. Landlord acknowledges that Tenant is relocating its business operations to the Premises from its current location at 0000 Xxxxxxxx, Xxxxxxxx, Xxxxxxxx (“Existing Space”), that Tenant’s lease of the Existing Space is expiring and that the Tenant needs to vacate and deliver possession of the Existing Space as soon as possible. In the event that Tenant fails to deliver possession by the date upon which occurs six (6) weeks following issuance of a building permit by the Village of Lake Bluff (the “Outside Date”), the Tenant will incur significant damages, including, but not limited to, holdover rent. Accordingly, in the event that the Substantial Completion of Landlord’s Improvement Work is not achieved by the Outside Date, then Tenant shall be entitled to one (1) day abatement of Base Building Work Rental for every one (subject 1) day after the Outside Date until Substantial Completion. Landlord shall notify Tenant twenty (20) days prior to the penultimate sentence date it anticipates the Improvements will be Substantially Completed. In the event that there is a dispute as to whether or not the Improvements are Substantially Completed, the dispute shall be resolved by the Project Architect who prepared the Approved Plans and Specifications. Lessee’s acceptance in writing of this paragraph below) and Landlord’s Work the Improvements shall be deemed conclusively to establish that the Improvements have been Substantially Completed in accordance with Law. If the Substantial Completion of the Base Building Representations Final Approved Plans and Landlord’s Work is delayed Specifications, except for any Punch List Items noted by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)latent defects. Notwithstanding the foregoing, as promptly as practicable following the Commencement Date date Tenant takes possession, Landlord and Tenant shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on enter into an appropriate amendment to this Lease to document the Commencement Date and Landlord has commenced expiration date of the Base Building Work and is working diligently to Substantially Complete Lease Term of the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcLease.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease Agreement (Insys Therapeutics, Inc.)

Commencement Date. Upon the Effective Date, the terms and provisions hereof shall be fully binding on Landlord and Tenant. The Commencement Date Term of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that commence on the Commencement Date and Date. Unless sooner terminated or extended as part may be hereinafter provided, the Term shall end on the Expiration Date. If Landlord does not tender possession of the Base Building Work at Landlord’s cost Premises to Tenant on or before any particular date, for any reason whatsoever, Landlord shall not be liable for any damage thereby (and except as expressly set forth in this Section 2.2 below), this Lease shall not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaksvoid or voidable thereby, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) Term shall not commence until the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)Commencement Date. Notwithstanding the foregoing, if Landlord does not cause the Initial Installations (defined in the Work Letter) to be Substantially Completed on or before the date that is sixty (60) days following the full execution and delivery of this Lease by Landlord and Tenant (the “Fixed Rent Abatement Outside Date”), then Tenant shall be entitled to an abatement of Fixed Rent in an amount equal to the product of (i) the number of days occurring after the Fixed Rent Abatement Outside Date and prior to the Commencement Date, less the number of days attributable to any Tenant Delays (as defined in Exhibit B and the Work Letter) and/or Unavoidable Delays (as defined in the Exhibit B), and (ii) Five Hundred Sixty-Four and 62/100 Dollars ($564.62) (i.e., two (2) times the daily amount of Fixed Rent payable during the first Lease Year) (such Fixed Rent abatement amount is referred to herein as the “Fixed Rent Abatement Amount”). The Fixed Rent Abatement Amount, if any, shall be applied, if at all, to Tenant’s obligation to pay Fixed Rent under this Lease commencing on the first day of the thirteenth (13th) full calendar month of the Term and continuing thereafter until such Fixed Rent Abatement Amount is fully exhausted. Landlord shall be deemed to have tendered possession of the Premises to Tenant upon the giving of notice by Landlord to Tenant stating that the Premises are vacant, in the condition required by this Lease and available for Tenant’s occupancy. Except as otherwise specifically provided in this Section 2.2 above, no failure to tender possession of the Premises to Tenant on or before any particular date shall affect any other obligations of Tenant hereunder. There shall be no postponement of the Commencement Date shall occur once for (i) any delay in the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently tender of possession to Substantially Complete the Base Building Work. Subject to Tenant which results from any Force Majeure, manufacturer delivery delays, Tenant Delay or township (ii) any delays by Landlord in approving plans, issuing permits, inspecting work, etc.,the performance of any punch list items relating to Initial Installations. At any time during the Term, Landlord may deliver to Tenant a Notice of Lease Term Dates in the form as set forth in Exhibit G, attached hereto, which notice Tenant shall use commercially reasonable efforts execute and return to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021Landlord within five (5) days of receipt thereof.

Appears in 1 contract

Samples: Lease (Cereplast Inc)

Commencement Date. The "Commencement Date of this Lease Date" shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion Landlord's Work (as defined in EXHIBIT C) is Substantially Complete (as defined in EXHIBIT C), provided, however, that if as part of the Base Building Work Landlord's Work, Landlord has not on or before March 15, 2000 (subject to the penultimate sentence Tenant Delays) laid down a sufficient amount of this paragraph belowcarpeting, in Landlord's reasonable judgment, to enable Tenant to commence Tenant's Work (as defined in EXHIBIT C) and Landlord’s Work in accordance with Law. If to prosecute such work continuously to completion on or before April 1, 2000 (the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays"Delivery Date"), then the Commencement Date shall be no earlier than May 1, 2000. Occupancy of the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated Premises by Landlord, without the Tenant Delays. Notwithstanding anything prior to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date shall be at Tenant's sole risk and as part deemed pursuant to, and subject to, all of the Base Building Work at Landlord’s cost (terms and not part provisions of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) abovethis Lease, including the above modifications payment of Base Rent, Costs of Electricity, and Tenant's Share of Expense Increases and Tax Increases (as such terms are hereinafter defined), except as may otherwise be expressly set forth herein; provided, however, that except as may be set forth in EXHIBIT C hereto, Tenant shall not be entitled to take occupancy of the Premises or any portion thereof prior to the Building’s HVAC systemdate it receives notice from Landlord that Landlord's Work is Substantially Complete. Subject to Force Majeure and Tenant Delays, collectivelyLandlord will use all reasonable and diligent efforts to achieve Substantial Completion of Landlord's Work on or before the Delivery Date. Subject to Force Majeure, in the “Base Building Work”)event that the Commencement Date, as established hereby and pursuant to the operation of the provisions of EXHIBIT C regarding Tenant Delays, occurs after the Delivery Date, Tenant's Rent (as defined in Section 1.5 below) hereunder shall abatx xx one (1) day for each day that the Commencement Date follows the Delivery Date. Notwithstanding the foregoing, in the Commencement Date event Substantial Completion shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system have occurred on or prior to December 1that day which is six (6) months after the execution hereof, 2021subject to an additional period of up to three (3) months if Substantial Completion is delayed by the occurrence of one or more events of Force Majeure (the "Outside Delivery Date"), Tenant shall be permitted to terminate this Lease by written notice given to Landlord within ten (10) days after the Outside Delivery Date. If such notice is not so given, Tenant's right to so terminate this Lease shall be deemed to have been waived.

Appears in 1 contract

Samples: MCK Communications Inc

Commencement Date. The Commencement Date of this the Lease shall will be the later last to occur of (the 503B Commencement Date and the Pharmacy Commencement Date, as said terms are defined below in this Section 1.17. Subject to the right of termination as to the 503B Space set forth in Section 6 of Exhibit “A”, the “503B Commencement Date” will be deemed to have occurred upon the earlier of: a) December 1the day immediately after expiration of the Early Occupancy Period (as said term is defined in Section 5 of Exhibit “A”), 2021, and (b) the date upon which occurs Tenant commences full scale business operations within the Substantial Completion 503B Space, having received all of the Base Building Work (subject Approvals; and, c) the date Tenant advises Landlord, in writing, of its waiver of the right to terminate the portion of this Lease applicable to the penultimate sentence 503B Space, as said right of this paragraph belowtermination is set forth in Section 6 of Exhibit “A”. The “Pharmacy Commencement Date” will be deemed to have occurred upon the earlier of: a) and two hundred twenty-five (225) days after the Delivery Date of the NCO Space; and, b) the date Tenant commences full scale business operations within the Pharmacy Space. Landlord acknowledges that Tenant will not be deemed to have commenced full scale business operations within the Pharmacy Space as a result of the use thereof by up to fifty-five (55) employees of Tenant working in its call center. However, if more than fifty-five (55) employees of Tenant are working in any portion of the Pharmacy Space, but Tenant is not then utilizing at least seventy-five percent (75%) of the Pharmacy space for the conduct of its business, then Tenant will pay Annual Base Rent for that portion of the Premises that is occupied by said employees at the rate of $15.75/RSF/year. Upon determination, Tenant shall, upon Landlord’s Work in accordance with Law. If request, execute and deliver a written statement specifying the Substantial Completion Commencement Date, Expiration Date and other pertinent dates of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, Term as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the form that is attached hereto as Exhibit Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work G” and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcby this reference incorporated herein.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease Agreement (HS Spinco, Inc.)

Commencement Date. The April 1, 1997, unless the Commencement Date of this is changed or the Lease shall is terminated as provided herein. In the event that the Leased Premises cannot be the later of (a) December delivered to Tenant for occupancy on or before March 1, 20211997, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be thirty days after the later to occur of (A) Substantial Completion of the Leased Premises (as hereinafter defined in Section 9(e)), or (B) the date the Landlord’s Work Landlord has delivered possession of the Leased Premises to Tenant, free of all tenants and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlordoccupants. Tenant may occupy the Leased Premises for the 30-day period prior to the Commencement Date, without any obligation to pay any Base Rent hereunder; provided, however, that Tenant will otherwise be required throughout the Tenant Delays. Notwithstanding anything period of its occupancy prior to the contrary contained herein, Landlord represents Commencement Date to Tenant that perform all of its other duties and obligations under this Lease. The Term of this Lease shall commence on the Commencement Date and and, unless extended or sooner terminated as part hereinafter provided, shall end on the Termination Date, as such dates are respectively defined herein. Tenant may elect to accept delivery of a portion of the Base Building Work at Landlord’s cost Leased Premises when such portion is Substantially Complete (and not part as that term is defined in Section 9(e)) without accepting delivery of Landlord’s Cap) (i) all of the Demised Premises and Building Structure will be structurally sound and free from leaksLeased Premises, and the Demised Premises Commencement Date for such portion shall be deemed the date of such acceptance of all of the Leased Premises; provided, however, that if Tenant elects to so accept delivery of a portion of the Leased Premises, then commencing on the date which is 30 days after such acceptance, it will be demisedobligated to pay Base Rent on the occupied portion of the Leased Premises in an amount equal to the Base Rent specified in Exhibit B to the Lease, broom cleanmultiplied by a fraction, having as its numerator the number of rentable square feet contained within the portion of the Leased Premises so occupied by Tenant, and in compliance with Law, (ii) having as its denominator the Demised Premises will be free from asbestos and other Hazardous Materials in violation number of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting rentable square feet contained within the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcentire Leased Premises.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease Agreement (Phoenix International LTD Inc)

Commencement Date. The Commencement Date of this Lease shall be the later earlier of May 1, 1992 or the date (a) December 1, 2021ten (10) days after the date on which all of the following conditions have been met: (i) all of the work required to be performed by Tenant on the interior of, and on the main entrance to, the existing building on the Premises pursuant to EXHIBIT C has been substantially completed; (ii) Landlord shall have received a certificate from Tenant's Construction Representative certifying such substantial completion; (iii) a Certificate of Occupancy has been issued by the Town of Norwood permitting the occupancy of the entire existing building on the Premises for the Permitted Uses containing no exceptions which interfere with the use of the Premises for the Permitted Uses; or (b) Tenant commences operations of its business in the entire existing building on the Premises (such date upon which occurs as derived from either clause (a) or (b) above, hereinafter the 'Substantial Completion Date"). The term "substantially completed" as used herein shall mean that the work to be performed by Tenant pursuant to EXHIBIT C has been completed, with the exception of minor items which can be fully completed without material interference with Tenant's use and occupancy of the Base Building Work (subject entire existing building on the Premises for the Permitted Uses and other items which, because of the season or weather or the nature of the item, are not practicable to do at the penultimate sentence time, provided that none of this paragraph below) and Landlord’s Work in accordance with Lawsuch items is necessary to make the Premises tenantable for the Permitted Uses. If the Substantial Completion Date occurs pursuant to clause (b) of this Section, Tenant shall comply with those conditions in clause (a) for which it is responsible as promptly as possible following the Substantial Completion Date. Tenant shall as promptly as possible complete any uncompleted work, including minor items and items which earlier were impracticable to perform. Additionally, Tenant shall proceed as promptly as possible after issuance to eliminate any exceptions contained in the Certificate of Occupancy. Upon occurrence of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained hereinDate, Landlord represents to and Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be shall enter into a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcside letter acknowledging such date.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Analog Devices Inc

Commencement Date. The Term of the Lease shall commence ("Commencement Date") on the first day of the first full month following the date on which the Premises are Substantially Complete (as hereinafter defined) except that if Substantial Completion occurs on the first day of a month, that date shall be the Commencement Date, and the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. The Premises shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete and, if required, a certificate of occupancy (or a reasonably substantial equivalent such as a signoff from a building inspector or a temporary certificate of occupancy) is issued for the Premises, or (2) Tenant first occupies all or any portion of the Premises (except for initial fixturing and installation and testing of telecommunications and data processing systems as provided for in Section 25 below). Landlord shall arrange for the construction of certain Tenant Improvements (as defined in the Work Letter attached hereto as Exhibit B), if any, in accordance with and subject to the terms of the Work Letter. Tenant shall, upon demand after delivery of the Premises to Tenant, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit C, acknowledging (i) the Commencement Date, (ii) the final square footage of time Premises, and (iii) Tenant's acceptance of the Premises. If the Premises are not Substantially Complete on the Estimated Commencement Date as extended by Force Majeure events and delays caused by Tenant's action or failure to act, this Lease shall remain in effect, Landlord shall not be the later of (a) December 1, 2021subject to any liability, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be delayed until the date the Landlord’s Work Premises are Substantially Complete. Tenant has determined that the Premises are acceptable for Tenant's use and Base Building Representations would have been Substantially CompletedTenant acknowledges that, except as reasonably estimated by Landlordmay be expresslx xxxxrwise provided in this Lease, without neither Landlord nor any broker or agent has made any representations or warranties in connection with the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part physical condition of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and their fitness for Tenant's use upon which Tenant has relied directly or indirectly for any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcpurpose.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Office Lease (Ipayment Inc)

Commencement Date. The Commencement Date set forth in Article 1 shall be delayed and Base Rent shall be abated to the extent that Landlord fails to deliver possession of the Premises for any reason on the intended Commencement Date, including but not limited to holding over by prior occupants, except to the extent that Tenant, its contractors, agents or employees in any way contribute to such failure. If Landlord so fails for a sixty (60) day initial grace period, or such additional time as may be necessary due to fire or other casualty, strikes, lock-outs or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions of Tenant or other Persons, or other causes beyond Landlord’s reasonable control, Tenant shall have the right to terminate this Lease by written notice to Landlord any time thereafter up until Landlord delivers the Premises to Tenant. Any such delay in the Commencement Date shall not subject Landlord to liability for loss or damage resulting therefrom, and Tenant’s sole recourse with respect thereto shall be the later abatement of (a) December 1Base Rent and right to terminate this Lease described above. Upon any such termination, 2021Landlord and Tenant shall be entirely relieved of their obligations hereunder, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject any Security Deposit and Rent payments shall be returned to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawTenant. If the Substantial Completion Commencement Date is delayed, the Expiration Date shall be similarly extended (in which case, the parties shall confirm the same in writing). Tenant may enter the Premises during the seven (7) day period prior to the intended Commencement Date (“Early Entry Period”) only for purposes of installing its furniture, fixtures and equipment (including telecommunications and computer equipment) and for purposes of moving into the Base Building Representations Premises, (but not for occupancy or the operation of Tenant’s business). During the Early Entry Period, Tenant shall comply with all terms and Landlord’s Work is delayed provisions of this Lease, except those provisions requiring the payment of Rent. If Tenant shall be permitted by Tenant DelaysLandlord in writing to enter the Premises prior to the intended Commencement Date for the purpose of occupying the same, then the Commencement Date shall be deemed to be such date of occupancy. Landlord shall permit early entry other than the date Early Occupancy Period in its sole and absolute discretion and only by giving Tenant prior written notice thereof. At any time during the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained hereinTerm, Landlord represents may deliver to Tenant that on a written notice setting forth the Commencement Date and as part other reasonable dates and information relating to this Lease (“Notice of the Base Building Work at Landlord’s cost Lease Dates”), which notice Tenant shall execute and return to Landlord within five (and not part 5) days of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaksreceipt thereof, and thereafter the Demised Premises will dates set forth on such notice shall be demised, broom clean, conclusive and binding; Tenant’s failure to timely execute and deliver the Notice of Lease Dates shall constitute an acknowledgment by Tenant that the statements included in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations such notice are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeurecorrect, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcwithout exception.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Office Lease (NGTV)

Commencement Date. The Term (defined below) and Tenant’s obligation to pay Rent shall commence on the date that is the day Tenant takes actual possession, which date will be no more than ten (10) business days after the date on which the Tenant Improvement Work (as defined in the Work Letter) has been Substantially Completed (as defined below) (the “Commencement Date of this Lease Date. Landlord shall cause the Tenant Improvement Work to be completed pursuant to the later of work letter attached hereto as Exhibit C (a) December 1, 2021the “Work Letter”), and (b) shall use best efforts to cause the date upon which occurs completion of the Final Plans and the Tenant Improvement Work to be done in a timely manner, as contemplated in the Work Letter, including, without limitation, Substantial Completion of the Base Building Tenant Improvement Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion within eight weeks of the Base Building Representations and Landlord’s completion of the Final Plans (as defined in the Work Letter). “Substantially Complete” or “Substantial Completion” or “Substantially Completed” mean the date that the Parties agree in writing that the Tenant Improvement Work is delayed all but complete, except that final permits may not have been signed by the city, whereby Tenant Delaysmay take possession and use the Premises as contemplated herein. If, then at any time after the Commencement Date shall be Parties agree that the Tenant Improvement Work is Substantially Complete and the date that the Landlordfinal permits are signed by the city, Tenant’s Work and Base Building Representations would have been Substantially Completed, use of the Premises is encumbered in any manner that prevents Tenant from the normal operation of its business within the Premises as reasonably estimated contemplated herein as a result of any work performed by Landlord, without its agents, employees or contractors, Tenant shall be entitled to an equitable abatement of Rent during such period until such time when the Premises are suitable for Tenant's unimpeded use. During the first twelve (12) months of the Term of this Lease, Landlord shall, at Landlord's sole cost and expense, repair any defects in the construction of the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Improvement Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: SVTC PDF Solutions Lease (PDF Solutions Inc)

Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1As used in this Lease, 2021, and "Commencement Date" shall mean the ----------------- earlier of (bi) the first date upon which occurs the Substantial Completion of use or occupancy of all or any portion of the Base Building Work Initial Leased Premises by Tenant for the purpose of conducting its business, or (subject to ii) the penultimate sentence of this paragraph Completion Date (defined below) and Landlord’s Work in accordance with Law. If for the Substantial Initial Leased Premises provided that the Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be accelerated by the date number of days the Landlord’s Work and Base Building Representations would have been Substantially Completed, achievement of the Completion Date is delayed as reasonably estimated by Landlord, without the result of Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents Tenant shall not be permitted to Tenant that on occupy the Commencement Date and as part Initial Leased Premises prior to the date of Substantial Completion of the Base Building Work at Landlord’s cost (Tenant Improvements if Landlord determines in its sole discretion that such occupancy may cause undue interference or delay in the completion of the Tenant Improvements. As used in this Exhibit C-1, "Completion Date" with respect to ----------- --------------- the Initial Leased Premises shall mean the date on which there is Substantial Completion of the Tenant Improvements for the Initial Leased Premises as described in Paragraph 2(e) of this Exhibit C-1. Landlord and not part Tenant estimate ----------- that the Completion Date will be February 1, 1999; however in no event shall such estimate be binding on Landlord or Tenant. As used in this Exhibit C-1, "Tenant Delay," shall mean the ----------- ------------ number of Landlord’s Cap) days that the occurrence or achievement of the particular event or date identified in this Lease, including without limitation the Completion Date, is delayed as a result of (i) Tenant's failure to meet the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and dates established in compliance with Lawthis Exhibit C-1, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing LawLong Lead Time Items (defined below), (iii) there will any changes ----------- to the Tenant Improvements requested to be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Usemade by Tenant (and approved by Landlord), (iv) Tenant's failure to sufficiently respond to Landlord's inquiries pursuant to Paragraph 1(c), (v) any breach by Tenant of its obligations under this Lease, including without limitation, the Common Areas will be in good working orderfailure to comply with this Exhibit C-1, and (vvi) the Building Systems serving the Demised Premises will be in good working order any other delays caused by Tenant or Tenant's engineers, ----------- architects (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) including Tenant Architect), with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as consultants, employees, agents, contractors and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcsubcontractors.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease Agreement (Entrust Technologies Inc)

Commencement Date. The Term will begin on the "Actual Commencement Date". The "Actual Commencement Date" is scheduled to be around the Initial Commencement Date set forth in the Data Section, or unless Landlord is delayed in completing any Landlord's "Initial Fit-Out Work" (defined in paragraph 3.04). In the case of any such delay, the Actual Commencement Date shall be the Initial Commencement Date extended to the date on which Landlord tenders possession of the Leased Premises to Tenant, in substantially the condition promised to Tenant (for example - as-is & broom clean and/or with substantial completion of Landlord's Initial Fit-Out Work - as may be set forth in other provisions of this Lease regarding the condition of the Leased Premises upon delivery to Tenant). The Actual Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph belowfollowing conditions all being satisfied. (1) Landlord shall have performed and Landlord’s Work in accordance with Law. If made the Substantial Completion of Leased Premises available to Tenant or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed the Base Building Representations work pursuant to the work and Landlord’s Work is delayed drawings to be approved by Tenant Delays, then the Commencement Date shall be the date the pursuant to Exhibit C - Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost 's Initial Fit-Out Work; (and not part of Landlord’s Cap3) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent A Certificate of Occupancy permitting the Permitted Use, occupancy by Tenant of the Leased Premises for its permitted use has been issued by the applicable governmental authority; (iv4) Landlord has provided that all building systems serving the Common Areas will be Leased Premises are in good working order, operating condition and (v5) Landlord shall obtain and deliver to Tenant an executed Agreement in recordable form executed by the Building Systems serving existing Mortgagee granting the Demised Premises will be subordination and non-disturbance agreement in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications form and content reasonably similar to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)attached. Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable reasonably diligent efforts and proceed with due diligence to Substantially Complete complete the above modifications construction of the Building and Leased Premises and obtain a Certificate of Occupancy for the Building and for the Leased Premises by the Initial Commencement Date of around April 15, 1999. In the event that Landlord has not completed the Building and the Leased Premises by June 15, 1999, then Tenant, at its sole option, shall have the right to the Building’s HVAC system on or prior to December 1, 2021terminate this Lease and be released from any further obligation by so notifying Landlord within fifteen (15) days thereafter.

Appears in 1 contract

Samples: Lease (Clayton Holdings Inc)

Commencement Date. The Commencement Date of this Lease Landlord and Tenant shall be use their best efforts to complete the later of (a) December 1, 2021, Building and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work Initial Tenant Improvements in accordance with LawExhibit D hereto on the Target Commencement Date or as soon thereafter as practicable. The determination of the Commencement Date with respect to the Initial Premises shall depend on which contractor is selected to construct the Initial Tenant Improvements. If Tenant selects the contractor engaged by Landlord to construct the shell and core of the Building (the "Shell and Core Contractor"), Landlord shall use its commercially reasonable best efforts to cause the Commencement Date to occur by May 21, 1999. If the Substantial Completion Shell and Core Contractor's bid is the lowest received by Tenant for the construction of the Base Building Representations Tenant Improvements, or is within two percent (2%) of the lowest bid received, and Landlord’s Work is delayed by Tenant Delayschooses a contractor other than the Shell and Core Contractor, then the Commencement Date shall be deemed to occur on the date the Landlord’s Work and Base Building Representations that it otherwise would have occurred had the Shell and Core Contractor been Substantially Completed, chosen to construct the Initial Tenant Improvements (as reasonably estimated by Landlorddetermined based on the Shell and Core Contractor's proposed schedule included in its tenant work bid.) If the Shell and Core Contractor is not the lowest bidder or within two percent (2%) of the low bidder, without the and Tenant Delays. Notwithstanding anything to the contrary contained hereinchooses such low bidder, Landlord represents to Tenant that on the Commencement Date and as part shall be deemed to occur on the earlier of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises date five (5) weeks after that date that it otherwise would have occurred had the Shell and Building Structure will be structurally sound Core Contractor been chosen to construct the Initial Tenant Improvements (as reasonably determined based on the Shell and free from leaksCore Contractor's proposed schedule included in its tenant work bid), and the Demised Premises will be demised, broom clean, and in compliance with Law, or (ii) the Demised Premises will date the Commencement Date would otherwise occur pursuant to the following paragraph. All of the foregoing dates are subject to the delay provisions contained in Section 3(d) below. The contractor so selected to construct the Tenant Improvements shall be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , "Tenant Improvements Contractor." The Commencement Date with the following modifications respect to the Building’s HVAC system: Initial Premises shall be deemed to occur on (A) the boiler providing heat later of (I) the completion date specified in the notice ("30 Day Notice") delivered to Tenant at least thirty (30) days prior to the Building will be replaced; date that the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Initial Premises will be upgraded from MERV-8 completed for occupancy or (II) the date the entirety of the Initial Premises is in fact delivered to MERV-13 Tenant with all of Landlord's Work and the Initial Tenant Improvements substantially completed, or (B) such earlier date as and where reasonably ableLandlord would have been able to so deliver the entire Premises to Tenant but for Tenant Delay (defined below). Subject to Tenant Delay or other causes beyond Landlord's control, and any heat pumps Landlord shall use its best efforts to deliver the Premises to Tenant no later than the completion date specified in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)30 Day Notice. Notwithstanding the foregoing, the Commencement Date shall occur once be deemed to have occurred with respect to the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true Initial Premises on the date Tenant first occupies the Initial Premises for normal business operations, if such date is earlier than the dates described above. The Commencement Date and Landlord has commenced shall not be deemed to occur until the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord following conditions shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.have been satisfied by Landlord:

Appears in 1 contract

Samples: Office Lease Agreement (Onyx Software Corp/Wa)

Commencement Date. The term "Commencement Date of this Lease Date" shall be the later of (a) December 1, 2021, and (b) mean the date upon which occurs when all of the Substantial Completion following have occurred with respect to a Building: (i) all of the Base Building Work (subject and Tenant Improvements for the Building to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed be constructed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would Landlord have been Substantially Completed, (ii) a certificate of occupancy and/or a conditional use permit (not subject to restrictions which would materially limit Tenant's use and operation of the Building) or other such document has been issued for the Building by the applicable governing authority, if required, (iii) the Building has been delivered to Tenant as reasonably estimated evidenced by delivery of the keys, and (iv) in the case of Office B, the parking structure has been completed. Landlord shall provide Tenant with access to a Building prior to the Commencement Date for that Building for purposes of installing its fixtures and equipment, preparing the Building for Tenant's use and occupancy, or for any other purpose permitted by Landlord, without provided that (1) such access is in compliance with Applicable Laws, (2) Tenant shall not unreasonably interfere with the work to be performed by Landlord in the Building, and (3) that all provisions of the Lease, other than the provisions for payment of any rent or additional rent for the Building, shall apply during such early occupancy period. Tenant or a Tenant Related Party (as such term is defined in the Lease) may exercise this privilege only if (i) Tenant or such Tenant-Related Party ensures that its employees and contractors and those of its agents do not interfere with construction of the Building, (ii) Tenant or such Tenant-Related Party takes such reasonable protective precautions or measures as Landlord and/or the General Contractor may reasonably request, given the state of construction of the Building at the time of such entry, and (iii) Tenant or such Tenant-Related Party signs a liability waiver in such form as required by the General Contractor's or Landlord's insurer, if required by such insurer with such form to be reasonably acceptable to Tenant, the General Contractor and/or Landlord's insurer. If the Tenant Delays. Notwithstanding anything Improvements for a Building are substantially completed prior to the contrary contained hereinCommencement Date for a Building, Landlord represents Tenant shall be allowed to use and occupy that Building prior to the Commencement Date for that Building, and Tenant that shall be subject to all of the provisions of this Lease during any such early occupancy period except, where the use and occupancy is not for Tenant's intended ongoing use for the Building, the provisions concerning Base Rent which shall commence on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) for the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date for the Building shall occur once be the Landlord’s Work is Substantially Completed even though date otherwise provided in the Base Building Work is not Substantially Completed Lease for commencement, rather than the date of early occupancy. Tenant's obligation to pay the additional rent related to Expenses shall begin as long as of Tenant's occupancy of all or any portion of the Base Building Representations are true on Premises. Notwithstanding that the Commencement Date for a Building has not have occurred, in the event Tenant or a Tenant-Related Party occupies space (other than common areas) within the Building for the Tenant's intended use for the space during the term of the Lease, Monthly Base Rent shall be payable to Landlord with respect to such space, provided, however, that in the event Tenant and/or Tenant-Related Parties occupy more than 50% of the space within a Building for Tenant's intended use for the space during the term of the Lease (excluding common areas), the Monthly Base Rent for the entire Building shall be due and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcpayable.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Letter Agreement (KBS Real Estate Investment Trust II, Inc.)

Commencement Date. The COMMENCEMENT DATE" shall mean the last to occur of (a) the date Tenant has received the certificate of Architect that the Building has been substantially completed in accordance with Paragraph 3.B; (b) sixty (60) days after the date Tenant has received the certificate of Landlord's Space Planner and of Tenant's Space Planner that the Premises have been substantially completed pursuant to the Tenant Improvement Plans; and (c) the date on which Landlord has secured all necessary certificates, authorizations, permits and approvals customarily given for occupancy of the Premises from the applicable governmental authorities, provided that Tenant is allowed to occupy the Premises. If and to the extent that Tenant Delay (as defined in the Work Letter) shall be the sole cause of delay of the Commencement Date to a date subsequent to that on which the Commencement Date would have occurred had such Tenant Delay not occurred, then notwithstanding the foregoing definition of Commencement Date, the Commencement Date for all purposes of this Lease shall be deemed to be such earlier date as the later of (a) December 1, 2021, Commencement Date would have occurred had such Tenant Delay not occurred. If the Landlord's Space Planner and (b) Tenaxx'x Xpace Planner are unable to agree as to the date upon which occurs the Substantial Completion of such substantial completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work entire Premises, such matter shall be determined in accordance with LawParagraph 3.E. hereof. If the Substantial Completion Landlord shall provide Tenant with at least sixty (60) days prior written notice of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part anticipated substantial completion of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised entire Premises and Building Structure will as described in Paragraph 3.B. and a second written notice on the date which Landlord claims as the actual substantial completion date for the Premises which shall be structurally sound and free sixty days prior to the Commencement Date. Landlord shall from leakstime to time during construction on the Premises provide Tenant with at least sixty (60) days prior written notice of the anticipated substantial completion date of each full floor portion of the Premises, and a second written notice on the Demised Premises will date which it claims as the actual substantial completion date of each such floor. After the actual substantial completion date asserted by Landlord for any floor of the Premises, upon five (5) business days prior written notice to Landlord, Tenant shall be demisedentitled to take possession of such floor and occupy it for Tenant's business without charge, broom clean, except for Landlord's ascertainable out-of-pocket costs for those services specified in Paragraphs 8.A.(i) and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting and 8.A.(x) (if Tenant is the Permitted Use, (iv) the Common Areas will be only tenant in good working order, and (v) the Building Systems serving the Demised Premises will be and additional security is required because of Tenaxx'x xccupancy), which in good working order (items (i) – (v) above being hereinafter referred each case are directly attributable to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two Tenaxx'x xossession of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including portion of the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays Premises in approving plans, issuing permits, inspecting work, etcquestion.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Collateral Agreement (Universal Access Inc)

Commencement Date. The Notwithstanding the date the Aggregate Improvements for the 10th Floor Space (as described in Paragraph 6 below) are substantially completed by Tenant or the date Tenant receives a TCO or its equivalent for the 10th Floor Space, the Commencement Date of this Lease for the 10th Floor space shall be the later same as the Commencement Date for the remainder of the Premises (excluding the Additional Space) and such Commencement Date shall continue to be determined pursuant to Section 1 (p) of the Lease without any reference or regard to the 10th Floor Space or the status of the Aggregate Improvements therefor, it being acknowledged by Tenant that: (a) December 1, 2021, the 10th Floor Space and the remainder of the Premises (excluding the Additional Space) have previously been delivered by Landlord to Tenant in the condition described on Attachment 1 to the Work Letter Agreement attached to the Lease as Exhibit C; (b) the date upon which occurs the Substantial Completion 10th Floor Space is not part of the Base Building Work (subject to the penultimate sentence of this paragraph belowany Package described in Section 1(p) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then thus will not delay or extend the Commencement Date shall be or the date Final Period described therein, notwithstanding any subsequently occurring Force Majeure Delays or Landlord Delays which actually delay substantial completion of the Landlord’s Work Aggregate Improvements for the 10th Floor Space; and Base Building Representations would have been Substantially Completed(c) Package 4 was deemed delivered pursuant to Section 1(p) of the Lease on March 30, as reasonably estimated by Landlord1990, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on and thus the Commencement Date and as part of for the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks10th Floor Space is scheduled to occur on August 27, and the Demised Premises will be demised1990, broom clean, and in compliance with Law, which is 150 days after such deemed delivery date. Notwithstanding subclause (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (vb) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, Landlord agrees that for each day that Tenant is actually delayed beyond the Commencement Date shall occur once in substantially completing the Landlord’s Work is Substantially Completed even though Aggregate Improvements for the Base Building Work is not Substantially Completed 10th Floor Space as long a result of Force Majeure Delays occurring after the date hereof, and/or as a result of Landlord Delays occurring after the Base Building Representations are true date hereof for which Tenant has provided Landlord requisite notice and opportunity to cure as set forth on the Commencement Date Pages 15 and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays16 of Section 1(p), Tenant Delay or township delays shall be entitled to a corresponding abatement of one (1) day’s Base Rent otherwise payable for the 10th Floor Space. Such abatement shall be in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications addition to the Building’s HVAC system on or prior to December 1, 20216-month abatement provided in Paragraph 4(a) below.

Appears in 1 contract

Samples: Carnation Building Office Lease (Wells Real Estate Investment Trust Inc)

Commencement Date. The Commencement Date of this the Lease shall be the later earlier of the date on which: (i) Tenant takes possession of any portion of the Premises in order to conduct business thereon; (ii) the Premises would have been Ready for Occupancy but for Tenant Delays (as defined in the Improvement Agreement attached hereto as Exhibit B); or (iii) the Premises are Ready for Occupancy, but, in the case of (aii) December 1, 2021, and (b) iii), in no event before the Estimated Commencement Date. The Premises shall be deemed “Ready” or “Occupancy” on the date upon which occurs the Substantial Completion of the Base Building Work substantial completion (subject to the penultimate sentence as defined herein) of this paragraph below) and all Landlord’s Work to be constructed by Landlord in accordance with Lawthe Premises (but not the Cafeteria and Fitness Center, which Tenant acknowledges shall not be substantially completed until after the Commencement Date), except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Uses. If Tenant shall, within ten (10) days after receipt of demand, execute and deliver to Landlord a Commencement Date Memorandum in the Substantial Completion form attached hereto as Exhibit C acknowledging the actual Commencement Date of this Lease. For purposes of this Lease, “substantial completion’ shall mean the date by which all of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date following have occurred: (i) Landlord has substantially completed the Landlord’s Work (other than the Cafeteria and Base Building Representations would have been Substantially Completed, as reasonably estimated the Fitness Center) in accordance with Exhibit B of this Lease; (ii) Landlord has delivered possession of the Premises and the Landlord’s Work (other than the Cafeteria and the Fitness Center) to Tenant; and (iii) Landlord has obtained a temporary certificate of occupancy from the appropriate governmental authorities required for the legal occupancy of the Premises by Landlord, without the Tenant DelaysTenant. Notwithstanding anything to the contrary contained hereinin this Lease, Landlord represents if the Cafeteria and Fitness Center are not Ready for Occupancy by October 1, 2002 (which date shall be subject to extension for Tenant Delays and up to ninety (90) days of Force Majeure Delays (as defined in Exhibit B, for each day thereafter that on either the Commencement Date and Cafeteria or the Fitness Center are not Ready for Occupancy, Tenant shall receive as part of the a credit against Base Building Work at Landlord’s cost Rent (and not part of Landlord’s Capas defined in Section 3.1 below) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps liquidated damages in the Demised Premises found not to be functioning will be repaired or replaced; two amount of the three cooling towers will be retrofitted with new water treatment systems Five Hundred Dollars (two have been retrofitted already$500.00) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcper day.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease Agreement (Palmsource Inc)

Commencement Date. The Term of the Lease shall commence ("Commencement Date") on the first day of the first full month following the date on which the Premises are Substantially Complete (as hereinafter defined) except that if Substantial Completion occurs on the first day of a month, that date shall be the Commencement Date, and the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. The Premises shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord files or causes to be filed with the City in which the Premises are located (if required) and delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete, (2) Tenant commences business operations in the Premises, or (3) a certificate of occupancy is issued for the Premises. Landlord shall arrange for the construction of certain Tenant Improvements (as defined in the Work Letter), if any, in accordance with and subject to the terms of the Work Letter attached hereto as EXHIBIT B. Tenant shall, upon demand after delivery of the Premises to Tenant, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as EXHIBIT C acknowledging (i) the Commencement Date, (ii) the final square footage of the Premises and any necessary adjustments to Base Rent, rental adjustments, Tenant's Building Share or Tenant's Site Share as provided in Section 1.1 above, and (iii) Tenant's acceptance of the Premises. If the Premises are not Substantially Complete on the Estimated Commencement Date, this Lease shall remain in effect, Landlord shall not be the later of (a) December 1, 2021subject to any liability, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be delayed until the date the Landlord’s Work Premises are Substantially Complete. Tenant acknowledges that it has had an adequate opportunity to inspect and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything investigate all matters relevant to the contrary contained hereinPremises, using experts and other qualified professionals, and that Tenant has determined that the Premises are acceptable for Tenant's use. Tenant further acknowledges that, except to the limited extent, if any, specifically provided in this Lease, neither Landlord represents to Tenant that on nor any broker or agent has made any representations or warranties in connection with the Commencement Date and as part physical condition of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and their fitness for Tenant's use upon which Xxxxxx has relied directly or indirectly for any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcpurpose.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Office Lease (Puma Technology Inc)

Commencement Date. (a) As herein used, the phrase "commencement date" shall mean the earlier of: (i) the day Tenant opens for business in the demised premises, or (ii) one hundred twenty (120) days after Landlord has delivered to Tenant possession of the demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the demised premises to Tenant with Landlord's Work (as set forth on Exhibit "B", attached hereto and made a part hereof) completed between July 1, 2006 and October 15, 2006 (the "Delivery Period"). Landlord shall give Tenant notice (the "Estimated Delivery Notice") no later than July 1, 2006 of the status of Landlord's construction and the estimated date that Landlord shall deliver the Premises to Tenant with Landlord's Work substantially completed (the "Estimated Delivery Date"). Landlord may, but is under no obligation, to revise the Estimated Delivery Date any time prior to thirty (30) days prior to the Estimated Delivery Date (the "Final Delivery Notice Date"), by which time Landlord shall have given Tenant a final notice (the "Final Delivery Notice") of a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work shall be substantially completed and the demised premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. However, if Landlord has not delivered a Final Delivery Notice by the Final Delivery Notice Date, then the Estimated Delivery Notice shall be the Final Delivery Notice and the Estimated Delivery Date shall be the Final Delivery Date. The Final Delivery Date shall not be earlier than (i) thirty (30) days after the date Tenant receives the Final Delivery Notice, or (ii) the first day of the Delivery Period. If Landlord does not deliver the demised premises to Tenant as required herein by October 15, 2006, Tenant may defer delivery until January 2, 2007. If Landlord does not deliver the demised premises to Tenant thereafter on or before July 1, 2007, Tenant may terminate this Lease. Notwithstanding the foregoing, if Landlord’s failure to deliver the demised premises to Tenant on or before July 1, 2007 is due to an event of force majeure which occurs on or after May 1, 2007, Tenant may not exercise its right to terminate the Lease pursuant to this Section 3(a) for an additional ninety (90) day period. In the event that the demised premises and Landlord's Work are not substantially completed and delivered to Tenant on or before the Final Delivery Date, the minimum rent due hereunder shall be adjusted so that, after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (1) day of minimum rent for each day after the Final Delivery Date until delivery of the demised premises is made to Tenant consistent with the terms of this Lease Lease, including substantial completion of the Landlord's Work (“Late Delivery Credit”). In the event Landlord does not provide to Tenant a Final Delivery Notice as required herein and the demised premises and Landlord’s Work is not substantially completed and delivered to Tenant on or before the Final Delivery Date, the Late Delivery Credit shall not exceed One Hundred Fifty Thousand Dollars and 0/00 ($150,000.00). Tenant shall not be obligated to accept possession of the demised premises prior to the later of (a) December 1substantial completion of Landlord's Work, 2021, and (b) the date upon which occurs the Substantial Completion first day of the Base Building Work Delivery Period and (subject to c) the penultimate sentence Final Delivery Date. Time is of the essence regarding all dates set forth in this paragraph below) and Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work in accordance with Law. If at the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by demised premises so that Tenant Delays, then the Commencement Date shall be the date the Landlordmay obtain a building permit for Tenant’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part commence performance of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcsame.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: DSW Inc.

Commencement Date. The Commencement Date commencement date of this Lease the Term with respect to the New First Floor Contiguous Space shall be the later of (a) December January 1, 2021, and 2003 (bthe “New First Floor Contiguous Space Commencement Date”) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) provided that: (i) the Demised Premises Tenant Improvements to be constructed by Landlord in the New First Floor Contiguous Space are “substantially complete” (as defined in Section 2(g) of the Work Letter attached to the Lease as Exhibit E and Building Structure attached to this Amendment as Exhibit B (the “Work Letter”)) (ii) Tenant has received a temporary certificate of occupancy which permits Tenant’s use of the New First Floor Contiguous Space for Tenant’s intended use; (iii) the incompletion of items required for a permanent unconditional Certificate of Occupancy will be structurally sound not materially impact Tenant’s occupancy, use, and enjoyment of the New First Floor Contiguous Space, all as reasonably determined by Tenant; and (iv) Tenant is able to commence its intended business operations within the New First Floor Contiguous Space, subject only to the installation by Tenant of its personal property. Landlord shall deliver possession of the New First Floor Contiguous Space to Tenant on the New First Floor Contiguous Space Commencement Date with the New First Floor Contiguous Space Improvements completed, as required in this Amendment, and free from leaksof all tenants and occupants, if any, and the Demised Premises will be demisedtheir personal property, fixtures, and equipment, broom clean, in good working order and condition and in compliance with Lawall applicable laws, (ii) codes, ordinances, rules and regulations. Expiration of the Demised Premises will term for the lease of the New First Floor Contiguous Space shall be free from asbestos as set forth in Section 2.01 of the Lease. Landlord and other Hazardous Materials in violation Tenant shall execute a certificate memorializing the New First Floor Contiguous Space Commencement Date promptly upon determination of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be such date. Landlord and Tenant shall work in good working order, faith for completion of construction of the New First Floor Contiguous Space Tenant Improvements at the lowest practical cost and (v) at the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , earliest reasonable time consistent with the following modifications intended scope, image and budget/schedule for such Tenant Improvements, subject to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as terms and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two provisions of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcthis Amendment.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease (Inverness Medical Innovations Inc)

Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject Landlord covenants to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete cause substantial completion of (i) the above modifications Shell Improvements and delivery of the Premises to Tenant for purposes of Tenant's construction of the Building’s HVAC system Tenant Improvements in accordance with the Work Letter on or prior to December before April 1, 20212001, and (ii) substantial completion of the Base Building Improvements on or before July 1, 2001. If Landlord fails to meet either or both of the foregoing dates due to default on the part of Landlord (as determined in accordance with Article 26 below) or as a result of the occurrence of events of force majeure as described in Article 41 below, then as Tenant's sole remedies for the delay in Tenant's taking possession of the Premises or the completion of the Base Building Improvements, (a) Tenant shall be entitled to one (1) day of free Rent in the Premises for each day that Landlord fails to timely deliver the Shell Improvements and/or the Base Building Improvements as required herein (the "Free Rent Period"); (b) the Rent Commencement Date shall be delayed for the period of delay in substantial completion of the Shell Improvements and/or delivery of the Premises, as applicable, resulting from Landlord's default and for the duration of the Free Rent Period; and (c) the Expiration Date of the Lease Term shall likewise be extended; provided, that in the event that substantial completion of the Shell Improvements and delivery of the Premises and/or substantial completion of the Base Building Improvements has not occurred on or before January 1, 2002 due to default on the part of Landlord (determined in accordance with Article 26 below) or as a result of the occurrence of events of force majeure as described in Article 41 below, then Tenant shall have the right to terminate this Lease upon ten (10) days' prior written notice to Landlord. The date on which Landlord actually delivers possession of the Premises to Tenant in accordance with the foregoing is referred to herein as the "Commencement Date."

Appears in 1 contract

Samples: Lease Agreement (Frontier Airlines Inc /Co/)

Commencement Date. The Commencement Date term of this Lease lease (the “Term”) shall commence on the date (herein referred to as “Commencement Date”) which shall be the later earlier of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the date Tenant occupies the Demised Premises for the conduct of their business or (ii) the date when the Demised Premises shall be deemed substantially complete. The Lease shall expire on the latest to occur of (i) May 31, 2029 or (ii) or 120 Months from the 14th Floor Premises CD as provided for in paragraph 48.02 or (iii) the last day of the 120th calendar month after the month in which the Commencement Date occurs (provided that if the Commencement Date is the first day of a month, this Lease shall expire on the last day of the 120th calendar month of the Term) , unless sooner terminated or extended as provided herein (“Expiration Date”). The Demised Premises shall be deemed “substantially complete” on the date that Landlord’s Initial Improvements (as hereinafter defined) in the Demised Premises shall have been substantially completed in accordance with all applicable laws (and Building Structure will it shall be structurally sound and free from leaksso deemed notwithstanding the fact that minor or insubstantial details of construction, mechanical adjustment or decoration (“punchlist items”) remained to be performed, the non-completion of which do not materially interfere with Tenant’s use of the Demised Premises), and the Demised Premises will be demised, have been delivered to Tenant vacant and broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete give Tenant at least five (5) Business Days prior notice of substantial completion. Landlord and Tenant shall use reasonable efforts to schedule and jointly perform a walk-through of the above modifications Demised Premises to confirm that substantial completion has occurred, provided that failure for such walk-though to occur shall in no way delay or toll the Commencement Date. Landlord shall use commercially reasonable efforts to complete such punchlist items as soon as possible after receipt of notice thereof, and to minimize interference with Tenant’s conduct of business during such work. Tenant shall commence paying the Basic Annual Rent and additional rent due under this Lease on the date (the “Rent Commencement Date”) that is the later of the date that is five (5) Business Days after the Commencement Date and June 1, 2019. Notwithstanding anything herein to the Building’s HVAC system on or prior to December contrary, in the event the Commencement Date does not occur by November 1, 20212019 (“Outside Date”), Tenant shall have the right to cancel this Lease by written notice to Landlord, and upon delivery of such notice this Lease shall be deemed terminated and neither party shall have any further rights or obligations hereunder.

Appears in 1 contract

Samples: Commencement Date Agreement (Inter Parfums Inc)

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Commencement Date. The term of this Lease (“Term”) shall be sixty (60) months commencing on the Commencement Date (as defined below), unless sooner terminated and subject to any extensions granted hereunder. The “Commencement Date” of this Lease shall be the later earlier of (ai) December 1, 2021substantial completion of the Tenant Improvements (as defined below) and the Additional Work (as defined below), and (bii) the date upon which occurs the Substantial Completion that Tenant commences occupancy and use of the Base Building Work Premises for the purpose of conducting Tenant’s business operations therein (subject the commencement of such occupancy and use shall be deemed to constitute “possession” for purposes of this Lease and Tenant shall not be deemed to be “in possession” of the Premises prior to the penultimate sentence commencement of such occupancy and use). For purposes of this paragraph belowLease, the date of “substantial completion” of the Tenant Improvements and Additional Work shall be the date that all of the following has occurred: (i) the Tenant Improvements and LandlordAdditional Work are complete except for minor items of adjustment or repair of the type commonly found on an architect’s punchlist which would not materially interfere with Tenant’s use and enjoyment of the Premises for their intended purpose; (ii) the City of Sunnyvale has approved the Tenant Improvements and Additional Work in accordance with Lawits building code, evidenced by its completion of a final inspection and written approval of such improvements as so completed in accordance with the building permit(s) issued for the Tenant Improvements and/or Additional Work. If the Substantial Completion Commencement Date is other than the first day of a calendar month and/or if the Base Building Representations and Landlord’s Work expiration date of this Lease is delayed by Tenant Delaysother than the last day of a calendar month, then Rent (as defined below) shall be prorated for the month in which the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completedor expiration date, as reasonably estimated by Landlordapplicable, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that occurs on the Commencement Date and as part basis of the Base Building Work at Landlord’s cost (and not part number of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two days that Tenant had possession of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcPremises during such calendar month.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease Agreement (Silicon Graphics Inc)

Commencement Date. The Subject to Sections l.C and x.X below, the commencement date (“Commencement Date of Date”) for this Lease shall be the later of (a) December 1, 2021, and (b) is the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps set forth in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)Schedule. Notwithstanding the foregoing, if Landlord fails to deliver possession of the portion of the Premises consisting of Building C to Tenant on or before the Commencement Date vacant and otherwise in the condition required hereunder for any reason, then (i) this Lease shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on be void or voidable by either party, (ii) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and (iii) the Commencement Date with respect to the portion of the Premises consisting of Building C shall be revised to mean the date on which Landlord delivers possession of Building C to Tenant vacant and otherwise in the condition required hereunder, and the Termination Date shall remain unchanged. Tenant acknowledges and agrees that, notwithstanding anything to the contrary in this Lease, its rights under this Lease with respect to Building C are subject and subordinate in all respects to (i) the option of AMAT (as hereinafter defined) to extend the term of the AMAT Lease (as hereinafter defined) with respect to Building C its set forth in Section 31 of the AMAT Lease, and (ii) any other agreement between Landlord has commenced and AM4T to extend the Base term of the AMAT Lease with respect to Building Work C whether or not reflected in the AMAT Lease or entered into after the date hereof and is working diligently prior to Substantially Complete the Base Building WorkMarch 1 , 2003. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall will use commercially reasonable efforts to Substantially Complete regain possession of Building C in the above modifications event that the term of the AMMAT Lease with respect to Building C is not extended as provided in subpart (i) or (ii) hereof for any reason whatsoever and Vitria (as hereinafter defined) or any other occupant remains in occupancy following termination of the Vitria Sublease (as hereinafter defined) or the AMAT lease as to Building C, including the initiation of unlawful detainer proceedings. In the event the term of the AMAT Lease with respect to Building C is not extended for any reason whatsoever and Landlord fails to deliver possession of Building C vacant and otherwise in the condition required hereunder within ninety (90) days after the estimated Commencement Date for Building C set forth in Item 10 of the Schedule, then Tenant may, by written notice to Landlord, terminate this Lease with respect to Building C only. Upon any such termination. Landlord shall promptly return to Tenant S 146,696.30 representing the portion of the Initial Security Deposit applicable to Building C. Upon request from Tenant. Landlord agrees to promptly inform Tenant as to whether the AMAT Lease has been extended. In the event that the AMAT Lease is extended as set forth in subparts (i) or (ii) above, or this Lease is otherwise terminated as to Building C as expressly set forth in this Lease, references in this Lease to “Building C” shall be deemed deleted, “Premises” and “Building” shall not include Building C, and the square footage, the Base Rent and other rental amounts, Tenant’s HVAC system on or prior to December 1Proportionate Share, 2021the number of parking spaces, the Initial Security Deposit and other similar amounts shall be proportionately reduced.

Appears in 1 contract

Samples: Sublease (Vitria Technology Inc)

Commencement Date. The "Commencement Date Date" of this Lease shall be the later earlier of (a) December 1the date Lessee commences business operations in the Premises, 2021, and or (b) the date upon which occurs the Substantial Completion Lessor delivers possession of the Base Building Premises to Lessee with Lessor's Work substantially completed. For purposes hereof Lessor's Work shall be EXHIBIT B deemed "substantially completed" when the Contractor completes the Lessor's Work pursuant to the Working Drawings, minor punch-list and decorative items excepted, and Lessor receives a temporary certificate of occupancy (or its equivalent) issued by the City of Santa Fe Springs permitting occupancy of the Premises. The parties estimate that Lessor's Work will be substantially completed and the Commencement Date will occur on or about February 15, 1997; provided, however, if for any reason Lessor cannot deliver possession of the Premises to Lessee with Lessor's Work substantially completed by such date, then Lessor shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Lessee hereunder or provide Lessee with a right to terminate this Lease (subject, however, to Lessee's termination right in Paragraph 5 below), but in such case, Lessee's sole remedy (subject to Paragraph 5 below) shall be the penultimate sentence extension of the Commencement Date until the earlier of the two dates set forth in Paragraphs 3(a) and (b) above. Notwithstanding the foregoing provisions of this paragraph below) and Landlord’s Work Paragraph 3 to the contrary, to the extent Lessor is delayed in accordance with Law. If the Substantial Completion delivering possession of the Base Building Representations and Landlord’s Premises to Lessee with Lessor's Work is delayed substantially completed as a result of any delays caused by the acts, changes or omissions of Lessee or Lessee's agents, architects, engineers, contractors or employees or any improvements, fixtures, furniture or equipment constructed or installed by Lessee (collectively "Tenant Delays"), then the Commencement Date shall be accelerated to the date the Landlord’s Work and Base Building Representations Commencement Date would have been Substantially Completedoccurred but for such Tenant Delays; provided, however, that no Tenant Delay shall be deemed to occur unless and until Lessor has provided notice to Lessee (the "Delay Notice") specifying the action or inaction by Lessee which Lessor contends constitutes the Tenant Delay. If such action or inaction is not cured by Lessee within one (1) business day of receipt of such Delay Notice (the "Grace Period"), then a Tenant Delay, as reasonably estimated by Landlordset forth in such Delay Notice, without the Tenant Delays. Notwithstanding anything shall be deemed to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and have occurred commencing as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two expiration of the Grace Period; provided that Lessee shall only be permitted an aggregate of three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already3) (items (i) – (v) abovedays of Grace Period and, including the above modifications to the Building’s HVAC systemthereafter, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, a Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcshall commence upon delivery of the Delay Notice to Lessee.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Graham Field Health Products Inc

Commencement Date. The Commencement Date Term of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that commence on the Commencement Date and and, unless sooner terminated or extended as part hereinafter provided, shall end on the Expiration Date. If Landlord does not tender possession of the Base Building Work at Landlord’s cost Additional Second Floor Space or the Additional Third Floor Space to Tenant on or before any specified date, for any reason whatsoever, Landlord shall not be liable for any damage thereby caused, this Lease shall not be void or voidable thereby, and the Term shall not commence until Landlord tenders possession of the Additional Second Floor Space or the Additional Third Floor Space, as applicable, to Tenant. Landlord shall be deemed to have tendered possession of the Additional Second Floor Space or the Additional Third Floor Space, as applicable, to Tenant upon the giving of notice by Landlord to Tenant stating that such space is vacant, in the condition required by this Lease and available for Tenant's occupancy. No failure to tender possession of the Additional Second Floor Space or the Additional Third Floor Space to Tenant on or before any specified date shall affect any other obligations of Tenant hereunder. There shall be no postponement of the Additional Second Floor Space or the Additional Third Floor Space (and not part of Landlord’s Capor the corresponding Rent Commencement Date with respect to the Additional Second Floor Space or the Additional Third Floor Space, as applicable) for (i) any delay in the Demised Premises and Building Structure will be structurally sound and free tender of possession to Tenant which results from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, any Tenant Delay or (ii) any delays by Landlord in the Demised Premises performance of any Punch List Items related to the Additional Second Floor Space Improvements or the Additional Third Floor Space Improvements (as each such term is defined in Rider R1-B), as applicable (Tenant shall have available to it the remedy described below in this Section 2.2 in the case of any such delay by Landlord in performing any Punch List Items). Once the Additional Second Floor Space and the Additional Third Floor Space Commencement Date are determined, Landlord and Tenant shall execute an agreement stating the Additional Second Floor Space Commencement Date, the Additional Third Floor Space Commencement Date, the respective Rent Commencement Dates and the Expiration Date, but the failure to do so will not affect the determination of such dates. If Landlord fails to perform and complete any Punch List Items within 30 days after the creation of the list of Punch List Items and such failure continues for more than 30 days after notice by Tenant to Landlord of such failure, or if such failure is of a nature that it cannot be free completely remedied within 30 days, failure by Landlord to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to completely remedy such failure within 90 days, Tenant may perform and complete such Punch List Items at Landlord's expense. All costs and expenses reasonably incurred by Tenant in connection with any such performance and completion by Tenant shall be paid by Landlord to Tenant within 30 days after Landlord receives an invoice therefor from asbestos Tenant, which shall be accompanied by true and complete copies of invoices and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting reasonable support for the Permitted Use, (iv) the Common Areas will be in good working order, costs and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcexpenses invoiced.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Philadelphia Consolidated Holding Corp)

Commencement Date. The Term of the Lease shall commence ("Commencement Date") on the first day of the first full month following the date on which the Premises are Substantially Complete (as hereinafter defined) except that if Substantial Completion occurs on the first day of a month, that date shall be the Commencement Date, and the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. The Premises shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord files or causes to be filed with the City in which the Premises are located (if required) and delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete, (2) Tenant commences business operations in the Premises, or (3) a certificate of occupancy is issued for the Premises. Landlord shall arrange for the construction of certain Tenant Improvements (as defined in the Work Letter), if any, in accordance with and subject to the terms of the Work Letter attached hereto as Exhibit "B". Tenant shall, upon demand after delivery of the Premises to Tenant, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit "C" acknowledging (i) the Commencement Date, (ii) the final square footage of the Premises, and (iii) Tenant's acceptance of the Premises. If the Premises are not Substantially Complete on the Estimated Commencement Date, this Lease shall remain in effect, Landlord shall not be the later of (a) December 1, 2021subject to any liability, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be delayed until the date the Landlord’s Premises are Substantially Complete. Tenant has determined that the Premises are acceptable for Tenant's use and Tenant acknowledges that, except as set forth in the Work and Base Building Representations would have been Substantially CompletedLetter, as reasonably estimated by Landlord, without neither Landlord nor any broker or agent has made any representations or warranties in connection with the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part physical condition of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and their fitness for Tenant's use upon which Tenant has relied directly or indirectly for any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)purpose. Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and if Landlord has commenced not delivered the Base Building Premises to Tenant with Substantial Completion of the Tenant Improvements by the date which is six (6) months after Tenant's approval of the Construction Drawings pursuant to Section 1 of the Work and is working diligently to Substantially Complete the Base Building Work. Subject Letter, subject to any delays caused by Force MajeureMajeure and Tenant Delays, manufacturer delivery delaysthen Tenant shall have the right to terminate this Lease upon thirty (30) days' notice to Landlord; provided, however, that if upon such 30-day notice Landlord can substantially complete the Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,Improvements within ten (10) days of such notice, Landlord shall use commercially reasonable efforts notify Tenant of Landlord's ability to Substantially Complete so complete the above modifications Tenant Improvement work and Tenant shall have no right to the Building’s HVAC system on or prior to December 1, 2021terminate this Lease.

Appears in 1 contract

Samples: Sublease Agreement (E Loan Inc)

Commencement Date. (a) The Commencement Date term of this Lease and the estate hereby granted (the “Lease Term”) shall be the later of commence on (ai) December August 1, 20212007 for the 20th Floor Premises and the 21st Floor Premises (the “20th and 21st Floor Commencement Date”), and (bii) September 1, 2007 for the date upon which occurs 19th Floor Premises (the Substantial Completion “19th Floor Commencement Date”), provided that the respective Premises shall have been delivered to Tenant on the applicable Commencement Date. The 19th Floor Commencement Date and the 20th and 21st Floor Commencement Date are sometimes each referred to herein as a “Commencement Date” and collectively as the “Commencement Dates”. Landlord shall use reasonable efforts to deliver possession of the Base Building Work applicable Premises to Tenant on the applicable Commencement Date (subject each an “Original Delivery Date”). If Landlord fails to deliver possession of the penultimate sentence of this paragraph below) and applicable Premises on the applicable Commencement Date for any reason beyond Landlord’s Work in accordance with Law. If the Substantial Completion reasonable control, Landlord shall use reasonable efforts to deliver possession of the Base Building Representations applicable Premises to Tenant as soon thereafter as shall be reasonably possible and Landlord’s Work is delayed by Tenant Delays, then the such Commencement Date shall be deemed to be the date first (1st) day thereafter that actual possession is so delivered (provided that Landlord shall have given Tenant not less than ten (10) Operating Days prior notice of such revised delivery date) and, except as otherwise set forth in Section 3.1(b) through (f) below, the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part postponement of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the applicable Commencement Date shall occur once be Tenant’s sole remedy at law or in equity (Tenant hereby waiving any right to rescind this Lease and/or to recover any damages for such delay, except as otherwise set forth in Section 3.1(b) through (f) below), but in no event shall the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the 20th and 21st Floor Commencement Date and Landlord has commenced be later than the Base Building Work and 19th Floor Commencement Date. The foregoing is working diligently intended to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications be “an express provision to the Building’s HVAC system on contrary” under Section 223-a of the New York Real Property Law or prior to December 1, 2021any successor statute of similar import.

Appears in 1 contract

Samples: Lease (Cowen Group, Inc.)

Commencement Date. The Commencement Date of this This Lease Agreement shall be for an initial term of ten (10) years (the later "Initial Term") commencing on the "Commencement Date" (as hereinafter defined). The term "Commencement Date" shall mean the earlier of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) Substantial Completion, as hereinafter defined in Section 1.1(b) below, and delivery of an SNDA, as hereinafter defined, pursuant to the terms and conditions set forth in this Lease Agreement or (ii) the occupancy of the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation commencement of existing Law, business operations by Tenant or (iii) there the date that Substantial Completion would have occurred but for the delay caused or contributed to by any act or neglect of Tenant or those acting for or under Tenant (including Tenant Change Orders, Tenant Installation Work, Tenant Installation Contractor and Tenant Installation Contracts) (calculated in whole days for the actual number of days of delay), including delays attributable to Tenant's responses to or delivery of plans and specifications as set forth in Article 2 of this Lease or Tenant's selection of special or long lead time items beyond Landlord's control (provided Landlord notifies Tenant in writing of any long lead items and the actual number of days it will be a valid temporary take to receive such items within ten (10) business days after Landlord's initial receipt of plans or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working orderspecifications including such item, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications then only to the Building’s HVAC system: the boiler providing heat to the Building will extent that such delay could not be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably ableavoided or reduced by Landlord's timely ordering of such item, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted alreadyallowing for such long lead time.) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”collectively "Tenant Delay"). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and If Landlord has commenced the Base Building Work and is working diligently desires to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, allege that Tenant Delay or township delays in approving planshas occurred, issuing permits, inspecting work, etc.,no later than ten (10) business days after the occurrence of a Tenant Delay, Landlord shall use commercially reasonable efforts deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to Substantially Complete the above modifications subparagraph (iii) hereof, to the Building’s HVAC system on or prior extent any other Force Majeure Event coincides with an event of Tenant Delay, the date that Substantial Completion would have occurred but for such other Force Majeure Event will be extended "day for day" to December 1, 2021the extent of such other Force Majeure Event.

Appears in 1 contract

Samples: Lease Agreement (Digital Lightwave Inc)

Commencement Date. The Commencement Date Term of this Lease shall commence ("Commencement Date") on the first day of the first full month following the date on which the Improvements are Substantially Complete (as hereinafter defined) except that if Substantial Completion occurs on the first day of a month, that date shall be the later Commencement Date, and the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. The Improvements shall be deemed to be "Substantially Complete" on the earliest of the date on which: (a1) December 1Landlord files or causes to be filed with the City of El Segundo (if required) and delivers to Tenant an architect's notice of substantial completion, 2021or similar written notice that the Improvements are substantially complete and a certificate of occupancy (or a reasonably substantial equivalent such as a sign- off from a building inspector or a temporary certificate of occupancy) (the "C of O") is issued for the Improvements or (2) Tenant commences substantial business operations in the Premises. On the Commencement Date, Tenant shall execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit D acknowledging (i) the Commencement Date, (ii) the final rentable square footage of the Improvements, (iii) the final square footage of the Land, (iv) the initial "Base Rent," as that term is defined in Section 3.1.1, below, and (bv) the date upon which occurs the Substantial Completion Tenant's acceptance of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawPremises. If the Substantial Completion of Improvements are not Substantially Complete on the Base Building Representations Estimated Commencement Date as extended by "Force Majeure Delay" and Landlord’s "Tenant Delay," as those terms are defined in the Work is delayed by Tenant DelaysLetter, then this Lease shall remain in effect, Landlord shall not be subject to any liability, and the Commencement Date shall be delayed until the date the Landlord’s Work and Base Building Representations would have been Improvements are Substantially Completed, as reasonably estimated by Landlord, without the Tenant DelaysComplete. Notwithstanding anything to the contrary contained herein, Landlord represents if there is any delay in the Substantial Completion of the Improvements or in the occurrence of any of the other conditions precedent to Tenant that on the Commencement Date Date, and as part such delay is a result of Tenant Delay, then regardless of the Base Building Work at Landlord’s cost (and not part actual date of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two Substantial Completion of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoingImprovements, the Commencement Date shall occur once be deemed to be the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on date the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, would have occurred if no Tenant Delay or township delays had occurred, as determined in approving plans, issuing permits, inspecting work, etcaccordance with Section 12 of the Work Letter.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Lease (Infonet Services Corp)

Commencement Date. The commencement date for the Landlord Build Premises (the “Landlord Build Premises Commencement Date of this Lease Date”) shall be occur on the later of (a) December 1, 20212018, and or (b) subject to the date upon which occurs terms of Exhibit D hereto, sixty (60) days following the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work (as such terms are defined in accordance with Lawthe Work Letter attached as Exhibit D hereto), such sixty (60) day period being referred to herein as the “Tenant Build Out Period”) . If The commencement date for the Substantial Completion First Floor South Wing Premises (the “First Floor South Wing Premises Commencement Date”) shall occur on the earlier of (a) the date on which Tenant occupies the First Floor South Wing Premises and begins conducting business therein, or (b) December 1, 2018. The phrase “begins conducting business” (and other phrases of similar import) shall not include use of the Base Building Representations and Landlordapplicable portion of the Premises by Tenant solely for the storage, construction, staging or the construction or installation of Tenant’s Work is delayed by Tenant Delayspursuant to Exhibit D of this Lease. As used herein, then the term “Commencement Date Date” shall be mean the date on which both the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the First Floor South Wing Premises Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Landlord Build Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two Commencement Date have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)occurred. Notwithstanding the foregoing, if Tenant desires to begin conducting business in all or any part of the Commencement Date shall occur once First Floor South Wing Premises, the Landlord’s Work is Substantially Completed even though First Floor North Wing Premises, [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. the Base Building Work is not Substantially Completed as long as Fifth Floor Premises, or the Base Building Representations Sixth Floor Premises after the same are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or ready for occupancy but prior to December 1, 20212018 (the applicable portion of the Premises being referred to herein as the “Early Occupancy Space”), then Tenant shall have the right to commence such business operations therein by providing written notice to Landlord prior to such use; provided, however, that (1) Tenant shall commence paying Rent hereunder; provided, however, that the Rent due hereunder shall be prorated based on a fraction the numerator of which is the Rentable Area of the Early Occupancy Space and the denominator of which is the Rentable Area of the Premises; (2) such use shall otherwise be in strict accordance with all of the terms and conditions of this Lease; and (3) such use shall not accelerate the Commencement Date hereunder. For the avoidance of doubt, Tenant acknowledges and agrees that if Tenant exercises its right to commence business in the First Floor South Wing Premises, the First Floor North Wing Premises, the Fifth Floor Premises or the Sixth Floor Premises, whether concurrently or serially, prior to December 1, 2018, then the first date on which Tenant so operates within the entire Premises shall constitute the Commencement Date hereunder.

Appears in 1 contract

Samples: Lease (Cerus Corp)

Commencement Date. Landlord and Tenant shall use their best ----------------- efforts to complete the Building and the Initial Tenant Improvements in accordance with Exhibit B hereto on the date specified in Section 1(f) or as soon thereafter as practicable. The "Commencement Date Date" shall mean the date that the initial portion of the Premises described in Exhibit C, Section 2 (the "Initial Premises") are substantially completed and made available for Tenant's occupancy. It is presently estimated that the term of this Lease shall be the later of (a) December commence on July 1, 2021, and (b) the date upon which occurs the Substantial Completion 2000. The determination of the Base Building Work (subject Commencement Date with respect to the penultimate sentence Initial Premises shall depend on which contractor is selected to construct the Initial Tenant Improvements. If Tenant selects Landlord's shell and core contractor ("Landlord's Contractor"), Landlord shall cause the Commencement Date to occur by July 1, 2000. If Landlord's Contractor is the low bidder for construction of this paragraph below) and Landlord’s Work the Initial Tenant Improvements, in accordance with Law. If the Substantial Completion terms of the Base Building Representations and Landlord’s Work is delayed by Exhibit B, but Tenant Delayschooses another contractor, then the Commencement Date shall be deemed to occur on the date the Landlord’s Work and Base Building Representations that it otherwise would have occurred had Landlord's Contractor been Substantially Completed, as reasonably estimated by chosen to construct the Initial Tenant Improvements. If Landlord, without 's Contractor is not the low bidder and Tenant Delays. Notwithstanding anything to selects the contrary contained hereincontractor that is the low bidder, Landlord represents to Tenant that on shall cause the Commencement Date and as part to occur by September 1, 2000. All of the Base Building Work at Landlord’s cost (and not part of Landlord’s Capforegoing dates are subject to the delay provisions contained in Section 3(d) (i) below. The contractor so selected to construct the Demised Premises and Building Structure will Tenant Improvements shall be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , "Tenant Improvement Contractor." The Commencement Date with the following modifications respect to the Building’s HVAC system: Initial Premises shall be deemed to occur on (A) the boiler providing heat later of(I) the completion date specified in the notice ("30 Day Notice") delivered to Tenant at least thirty (30) days prior to the Building will be replaced; date that the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Initial Premises will be upgraded from MERV-8 completed for occupancy or (II) the date the entirety of the Initial Premises is in fact delivered to MERV-13 Tenant with all of Landlord's Work and the Initial Tenant Improvements substantially completed, or (B) such earlier date as and where reasonably ableLandlord would have been able to so deliver the entire Premises to Tenant but for Tenant Delay (defined below). Subject to Tenant Delay or other causes beyond Landlord's control, and any heat pumps Landlord shall use its best efforts to deliver the Premises to Tenant no later than the completion date specified in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)30 Day Notice. Notwithstanding the foregoing, the Commencement Date shall occur once be deemed to have occurred with respect to the Landlord’s Work Initial Premises on the date Tenant first occupies the Initial Premises for normal business operations, if such date is Substantially Completed even though earlier than the Base Building Work dates described above, provided that so long as Tenant is not Substantially Completed as long as in occupancy of the Base Building Representations are true on Initial Premises the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December not occur earlier than July 1, 2021.2000. The Commencement Date shall not be deemed to occur until the following conditions shall have been satisfied by Landlord:

Appears in 1 contract

Samples: Lease Agreement (Visio Corp)

Commencement Date. Subject to adjustment as provided in Article 3, the term “Commencement Date” shall mean January 1, 2005. Landlord and Tenant acknowledge and agree that Tenant currently occupies the Premises under that certain Lease with Landlord dated June 15, 1994 as subsequently amended (“Prior Lease”), the term of which expires on December 31, 2004. The Commencement Date Premises comprise a portion of the total premises leased by Tenant under the Prior Lease. It is the intent of the parties that Tenant will remain in possession of the Premises described in this Lease after the expiration of the term of the Prior Lease and that Tenant shall be surrender the later remainder of (a) December 1, 2021the premises leased under the Prior Lease to Landlord pursuant to the surrender terms and conditions of the Prior Lease which shall thereafter terminate, and (b) be of no further force and effect. Landlord hereby agrees both as Landlord under this Lease and as the date upon which occurs Landlord under the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant DelaysPrior Lease, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding that notwithstanding anything to the contrary contained hereinin this Lease or the Prior Lease, Tenant shall have no responsibility for the stairwell to the second floor, including, without limitation, any responsibility for the removal of the stairs upon the expiration of the Prior Lease or for the removal of any other alterations or Tenant improvements made by Tenant under the Prior Lease in the portion of the premises surrendered to Landlord represents at the expiration of the Prior Lease. Tenant shall continue to Tenant occupy the Premises described in this Lease thereafter under the terms and conditions of this Lease. Landlord agrees that on after full execution of this Lease but prior to the Commencement Date and Date, Tenant may commence Tenant’s Work (as part described in the Work Letter Agreement attached as Exhibit B) in the Premises except no work shall be done in the portion of the Base Building Work at Landlord’s cost (Premises currently subleased to XxXxxxxx and not part of Landlord’s Cap) (i) the Demised Premises Xxxxxxxx under Sublease Agreement dated June 19, 2002, until Tenant has provided Landlord written evidence that its subtenant has vacated and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two surrendered possession of the three cooling towers will Premises or has consented in writing to Tenant’s work. Completion of such Work shall be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) abovegoverned by the terms of this Lease, including not the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcPrior Lease.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Office Lease (Placer Sierra Bancshares)

Commencement Date. The Commencement Date of this This Lease Agreement shall be for an initial term of ten (10) years (the later “Initial Term”) commencing on the “Commencement Date” (as hereinafter defined). The term “Commencement Date” shall mean the earlier of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) Substantial Completion, as hereinafter defined in Section 1.1(b) below, and delivery of an SNDA, as hereinafter defined, pursuant to the terms and conditions set forth in this Lease Agreement or (ii) the occupancy of the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation commencement of existing Law, business operations by Tenant or (iii) there the date that Substantial Completion would have occurred but for the delay caused or contributed to by any act or neglect of Tenant or those acting for or under Tenant (including Tenant Change Orders, Tenant Installation Work, Tenant Installation Contractor and Tenant Installation Contracts) (calculated in whole days for the actual number of days of delay), including delays attributable to Tenant’s responses to or delivery of plans and specifications as set forth in Article 2 of this Lease or Tenant’s selection of special or long lead time items beyond Landlord’s control (provided Landlord notifies Tenant in writing of any long lead items and the actual number of days it will be a valid temporary take to receive such items within ten (10) business days after Landlord’s initial receipt of plans or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working orderspecifications including such item, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications then only to the Buildingextent that such delay could not be avoided or reduced by Landlord’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably abletimely ordering of such item, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted alreadyallowing for such long lead time.) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the collectively Base Building WorkTenant Delay”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and If Landlord has commenced the Base Building Work and is working diligently desires to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, allege that Tenant Delay or township delays in approving planshas occurred, issuing permits, inspecting work, etc.,no later than ten (10) business days after the occurrence of a Tenant Delay, Landlord shall use commercially reasonable efforts deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to Substantially Complete the above modifications subparagraph (iii) hereof, to the Building’s HVAC system on or prior extent any other Force Majeure Event coincides with an event of Tenant Delay, the date that Substantial Completion would have occurred but for such other Force Majeure Event will be extended “day for day” to December 1, 2021the extent of such other Force Majeure Event.

Appears in 1 contract

Samples: Lease Agreement (Digital Lightwave Inc)

Commencement Date. The From and after the Commencement Date (except as set forth in this Exhibit B), Tenant shall be liable to Landlord for the payment of this Rent and any other payment as set forth in the Lease. The “Commencement Date” under the Lease shall be the later date on which the Improvements (excluding completion of (aany Tenant Improvements or Tenant’s Extra Work) December 1are Substantially Completed; provided, 2021however, and (b) in the date upon which occurs the event Substantial Completion of the Base Building Work Improvements (subject to the penultimate sentence excluding completion of this paragraph belowany Tenant Improvements or Tenant’s Extra Work) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by due to Tenant Delays, then for purposes of the payment Rent and any other payment required to be made by Tenant pursuant to the Lease, the Commencement Date shall be that date on which the date the Landlord’s Work and Base Building Representations Improvements would have been Substantially Completed, as reasonably estimated by Landlord, without Completed but for the occurrence of such Tenant Delays. Notwithstanding anything to If the contrary contained hereinImprovements are not Substantially Completed but are partially ready for occupancy, Landlord represents to Tenant that on may, but need not, occupy the Commencement Date and as part portion of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaksImprovements that is ready for occupancy, and the Demised Premises will be demised, broom cleanprovided such partial occupancy is permitted by applicable law, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation event of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working ordersuch partial occupancy, and (v) if Tenant elects to partially occupy the Building Systems serving Improvements, Tenant shall pay to Landlord pro rata Rent based upon the Demised area of the Premises will be in good working order (items (i) – (v) above being hereinafter referred so occupied by Tenant. Such obligation to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters pay Rent on a proportionate basis shall commence on the nine heat pumps serving date on which Tenant first occupies and takes possession of any portion of the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably ablePremises, and any heat pumps in shall continue through the Demised Premises found not Commencement Date. Tenant’s right to be functioning will be repaired or replaced; two so occupy and utilize a portion of the three cooling towers will Premises shall nevertheless be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications subject to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date reasonable approval, and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delaysthroughout such partial occupancy, Tenant Delay shall fully cooperate with Landlord to facilitate Landlord’s Substantial Completion of any remaining or township delays in approving plansoutstanding Improvements without any interference. Except for Tenant’s entry into the Premises for purposes of inspections and performing and installing Tenant Improvements pursuant to Section 8 of this Exhibit B, issuing permits, inspecting work, etc.,, Landlord Tenant shall use commercially reasonable efforts to Substantially Complete not occupy any portion of the above modifications to the Building’s HVAC system on or Premises prior to December 1, 2021Substantial Completion thereof.

Appears in 1 contract

Samples: Acceptance Agreement (Cybex International Inc)

Commencement Date. The Commencement Date of this Lease shall be the later of (ai) December 1, 2021, and (b) the date upon which occurs the Substantial Completion full execution of the Base Building Work Initial Mortgagee SNDA (subject to the penultimate sentence of this paragraph below) and Landlord’s Work as defined in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with LawSection 23.01), (ii) full execution of the Demised Premises will be free from asbestos Initial Condominium Recognition and other Hazardous Materials Attornment Agreement (as defined in violation of existing LawSection 23.01), and (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, Substantial Completion Date (iv) the Common Areas will be as defined in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”Exhibit B attached hereto). Notwithstanding the foregoing, if Tenant fails to duly execute and deliver the Initial Mortgagee SNDA and/or the Initial Condominium Recognition and Attornment Agreement to Landlord within ten (10) business days following Landlord’s demand therefor, provided such Initial Mortgagee SNDA and/or the Initial Condominium Recognition and Attornment Agreement, as applicable, comply with Section 23.01 below, the occurrence of the Commencement Date shall occur once no longer be conditioned upon the Landlord’s Work is Substantially Completed even though full execution of the Base Building Work is not Substantially Completed Initial Mortgagee SNDA and/or the Initial Condominium Recognition and Attornment Agreement, as long applicable, pursuant to subclauses (i) and/or (ii) above, as the Base Building Representations are true on applicable, and Tenant shall be deemed to have waived such requirement for all purposes of this Lease. Promptly following the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,Date, Landlord shall use commercially reasonable efforts deliver to Substantially Complete Tenant a Confirmation of Lease Terms and Dates substantially in the above modifications form attached hereto as Exhibit C, and Tenant shall have ten (10) business days thereafter to execute and remit the same to Landlord; provided, however, either party’s failure to so execute and deliver such instrument shall not affect in any manner whatsoever the validity of the Commencement Date, the Rent Commencement Date, the Expiration Date as determined pursuant to the Buildingterms of this Lease, or Landlord’s HVAC system on or prior to December 1, 2021Tenant’s obligations under this Lease.

Appears in 1 contract

Samples: Office Lease (Schrodinger, Inc.)

Commencement Date. This Lease shall be effective and in full force upon execution by the parties hereto. The Lease Term begins and the first Rent is due on the "Commencement Date" which shall be the earlier of: (i) one hundred twenty (120) days after written notice to Tenant by Landlord in accordance with this Lease that Landlord's Work is substantially complete in accordance with the Handbook (as hereinafter defined) and the Premises are available to Tenant ready for Tenant's Work, or (ii) the date Tenant opens for business in the Premises; however, Tenant shall otherwise comply with the terms hereof as of the date the Premises are available to Tenant ready for Tenant's Work and Tenant covenants and agrees to commence Tenant's Work within thirty (30) days after Landlord gives such notice to Tenant that the Premises are available to Tenant for Tenant's Work (but not prior to receipt by Tenant of approval of Tenant's Working Drawings as provided in the Handbook). Tenant's failure to commence the Tenant's Work by the date which is thirty (30) days after the date of Landlord's notice to Tenant as set forth in clause (i) of this subsection 1.1(i), Tenant's cessation of the Tenant's Work for a period in excess of thirty (30) days after commencement thereof, or Tenant's failure to open for business by the date which is sixty (60) days after the Commencement Date shall, upon the occurrence of any of such events, constitute a default for which Tenant shall receive written notice from Landlord and thirty (30) days within which to cure such default and no other or further notice and cure period shall be applicable (notwithstanding any other provision of this Lease to the contrary); provided further, however, Tenant agrees that Tenant shall be cooperate with Landlord to effect a joint opening of the later of (a) December 1, 2021Shopping Center, and (b) in connection therewith, Landlord shall give notice to Tenant of the "Grand Opening Date" of the Shopping Center on the date upon which occurs the Substantial Completion of the Base Building Work (subject Premises are delivered by Landlord to Tenant and, if such Grand Opening Date shall be a date subsequent to the penultimate sentence date set forth in clause (i) of this paragraph below) subsection (i.e., later than the date which is 120 days after the date the Premises are delivered to Tenant), Tenant shall delay the opening of its business from the date Tenant otherwise would have been ready to open for business or required to open for business under the provisions of this subsection, and Tenant shall open for business on such Grand Opening Date designated by Landlord’s Work , and such Grand Opening Date in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then such circumstances shall be the Commencement Date under this Lease (including for the purposes of commencement of payment of Rent); provided further, however, in the event the date set for the Grand Opening Date is later than the date which is one hundred twenty (120) days after the date upon which the Premises are delivered by Landlord to Tenant, Tenant shall be permitted to delay commencement of the Tenant's Work, at Tenant's sole option, to the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything which is one hundred twenty (120) days prior to the contrary contained herein, scheduled Grand Opening Date. Landlord represents shall not be responsible or liable to Tenant that on the or those claiming by, through or under Tenant for loss or damage caused by or resulting from a delayed Commencement Date and as part opening for business by reason of Landlord's efforts to effect a joint opening of the Base Building Shopping Center. In no event shall Tenant open for business before Landlord opens the Shopping Center to the public. This Lease shall automatically terminate in the event the Premises are not available to Tenant ready for Tenant's Work at Landlord’s cost within three (and not part 3) years after the date of Landlord’s Cap) (i) this Lease. In the Demised event Landlord fails to so deliver the Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work this Lease is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,terminated, Landlord shall use commercially reimburse Tenant for the actual, reasonable efforts costs incurred by Tenant in connection with the preparation of this Lease and the Premises, not to Substantially Complete exceed $100,000.00. Landlord and Tenant agree to execute that certain "Delivery of Possession Date Certificate" and "Opening and Termination Date Declaration" included in the above modifications to the Building’s HVAC system on or prior to December 1, 2021Handbook of Tenant Information.

Appears in 1 contract

Samples: Lease (Harrys Farmers Market Inc)

Commencement Date. The Term will begin on the "Actual Commencement Date". The "Actual Commencement Date" is scheduled to be around the Initial Commencement Date set forth in the Data Section, or unless Landlord is delayed in completing any Landlord's "Initial Fit-Out Work" (defined in paragraph 3.04). In the case of any such delay, the Actual Commencement Date shall be the Initial Commencement Date extended to the date on which Landlord tenders possession of the Leased Premises to Tenant, in substantially the condition promised to Tenant (for example - as-is & broom clean and/or with substantial completion of Landlord's Initial Fit-Out Work - as may be set forth in other provisions of this Lease regarding the condition of the Leased Premises upon delivery to Tenant). The Actual Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph belowfollowing conditions all being satisfied. (1) Landlord shall have performed and Landlord’s Work in accordance with Law. If made the Substantial Completion of Leased Premises available to Tenant or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed the Base Building Representations work pursuant to the work and Landlord’s Work is delayed drawings to be approved by Tenant Delays, then the Commencement Date shall be the date the pursuant to Exhibit C - Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost 's Initial Fit-Out Work; (and not part of Landlord’s Cap3) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent A Certificate of Occupancy permitting the Permitted Use, occupancy by Tenant of the Leased Premises for its permitted use has been issued by the applicable governmental authority; (iv4) Landlord has provided that all building systems serving the Common Areas will be Leased Premises are in good working order, operating condition and (v5) Landlord shall obtain and deliver to Tenant an executed Agreement in recordable form executed by the Building Systems serving existing Mortgagee granting the Demised Premises will be subordination and non-disturbance agreement in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications form and content reasonably similar to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)attached. Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable reasonably diligent efforts and proceed with due diligence to Substantially Complete complete the above modifications construction of the Building and Leased Premises and obtain a Certificate of Occupancy for the Building and for the Leased Premises by the Initial Commencement Date of around December 20, 2002. In the event that Landlord has not completed the Landlord's Initial Fit-Out Work by January 31, 2003, Tenant, at its sole option, shall have the right to terminate the Building’s HVAC system on or prior Lease and be released from any further obligations by notifying Landlord within 15 days thereafter. This termination right is subject to December 1Exhibit C, 2021specifically regarding Tenant's obligation to deliver Landlord approved Initial Fit-Out Plans.

Appears in 1 contract

Samples: Clayton Holdings Inc

Commencement Date. (a) The Commencement Date term of this Lease and the estate hereby granted (the “Lease Term”) shall commence on the date that Landlord makes possession of the Premises available to Tenant with the Base Work Substantially Complete pursuant to the Work Letter. Such date of commencement is hereinafter called the “Commencement Date”. If Landlord fails to cause the Commencement Date to occur on or before the date that is [***] following the later to occur of (x) the date hereof and (y) the date on which the Plans and Specifications are finalized and approved by Landlord and Tenant in accordance with the terms of the Work Letter (as such date shall be extended on a day for day basis for Force Majeure and Tenant Delay, the later “Anticipated Delivery Date”), then the Rent Commencement Date shall be postponed by (i) [***] for each day that occurs during the period commencing on the day immediately following the Anticipated Delivery Date to but not including the earlier to occur of (aA) December 1, 2021[***] and (B) the date that is [***] after the Anticipated Delivery Date, and (bii) [***] for each day that occurs during the period commencing on the [***] after the Anticipated Delivery Date to but not including the Commencement Date, and any delay in such date upon which occurs shall be Tenant’s sole remedy at law or in equity (Tenant hereby waiving any right to rescind this Lease and/or to recover any damages on account of such delay other than as expressly set forth in Section 3.1(b) below). Landlord hereby agrees to use commercially reasonable efforts to cause the Commencement Date to occur prior to the Anticipated Delivery Date and Landlord shall keep Tenant reasonably apprised of any anticipated delay in the Substantial Completion of the Base Building Work (subject Work. The foregoing is intended to be “an express provision to the penultimate sentence contrary” under Section 223¬a of this paragraph below) and Landlord’s Work in accordance with Lawthe New York Real Property Law or any successor statute of similar import. If the Substantial Completion Tenant occupies all or any portion of the Base Building Representations Premises prior to the Commencement Date specified above for the normal operation of its business therein (and Landlordnot for the purpose of installing Tenant’s Work furniture, fixtures or equipment prior to the Commencement Date, if the same is delayed by Tenant Delayspermitted hereunder), then the Commencement Date shall be the treated as having occurred on such date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcoccupancy.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Tenant Lease Agreement (Protara Therapeutics, Inc.)

Commencement Date. The Commencement Date commencement date of this Lease Sublease (the “Commencement Date”) shall be the later date on which all of the following conditions have occurred: (a) December 1, 2021, the full execution and delivery of this Sublease or a copy thereof to Sublandlord and Subtenant or their respective attorneys; (b) the date upon which occurs Master Landlord consents in writing to this Sublease substantially in the Substantial Completion of form attached hereto and made a part hereof as Exhibit F (“Master Landlord Consent”) (or is deemed to have consented to this Sublease as hereinafter provided) as described in Article 3 below; (c) Sublandlord delivers the Base Building Work Sublease Premises to Subtenant vacant (subject to the penultimate sentence provisions of Section 10.5 hereof) and in broom-clean condition; and (d) item (i) of Sublandlord’s Work (as defined in Section 9.2 below) is substantially complete (the “Commencement Date Conditions”). Possession of the Sublease Premises shall be delivered to Subtenant upon execution of this paragraph below) Sublease and receipt of the executed Master Landlord’s Work Consent, in accordance with Law. If vacant (subject to the Substantial Completion provisions of Section 10.5 hereof), broom-clean and “AS-IS and WITH ALL FAULTS” condition as provided in Article 9 below (subject to all of the terms and conditions set forth in this Sublease except for Subtenant’s obligation to pay Base Building Representations Rent and LandlordAdditional Rent) for the sole and limited purpose of allowing Subtenant to install its fixtures, furnishings, equipment and personal property in the Sublease Premises pursuant to Section 14 below, and not for the conduct of Subtenant’s business therein, provided Subtenant shall not interfere with Sublandlord’s Work during such access. The date on which the Sublease Premises is delayed by Tenant Delays, then delivered to Subtenant as described above is referred to herein as the “Delivery Date.” Sublandlord and Subtenant shall enter into a Commencement Date Agreement substantially in the form of Exhibit C attached hereto confirming the Commencement Date promptly following the Commencement Date, provided that any failure of the parties to execute such written agreement shall be not affect the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on validity of the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to established as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcaforesaid.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Sublease (Hudson Holding Corp)

Commencement Date. The 2.4.1 Landlord shall complete the Tenant Improvements in accordance with the Plans and Specifications. Landlord's completion of the Tenant Improvements shall be performed by Landlord's contractors, and the Tenant Improvement Allowance shall be applied against the cost thereof as provided in paragraph 2.5 hereof. Landlord shall notify Tenant in writing of Substantial Completion. If Tenant believes that Substantial Completion has not occurred, Tenant shall notify Landlord in writing of its objections within five (5) Business Days after its receipt of the Landlord's notice described in the preceding sentence. Landlord shall have a reasonable time after its receipt of Tenant's notice in which to take such action as may be necessary to achieve Substantial Completion, and shall notify Tenant in writing when such has been achieved. Taking of possession by Tenant shall establish the Commencement Date as specified in the definition of this Lease that term even if Tenant disputes whether Substantial Completion has occurred or attempts to condition or qualify the taking of possession. Taking of possession shall be further establish that the later of Premises are in good and satisfactory condition on the Commencement Date and, except as expressly provided below with respect to latent defects in the Tenant Improvements, any alleged defects or deficiencies are waived by the Tenant except for any incomplete Punch List Work. Tenant shall notify the Landlord in writing within three (a3) December 1, 2021, and (b) the date upon which occurs the months after Substantial Completion of the Base Building Work (subject existence of any latent defects pertaining to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawTenant Improvements. If Tenant fails to notify the Substantial Completion Landlord of any latent defects pertaining to the Tenant Improvements within such period, Tenant shall be deemed to have waived any rights on account thereof. Tenant acknowledges that no representations as to the condition of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would Premises have been Substantially Completed, as reasonably estimated made by Landlord, without unless such are expressly set forth in this Lease. With the exception of the Tenant Delays. Notwithstanding anything Improvements to be made by Landlord, Tenant acknowledges that the Premises shall be delivered AS IS and that no representations as to the contrary contained hereincondition of the Premises have been made by Landlord. In the event of any dispute as to whether Substantial Completion has occurred, Landlord represents the receipt of a temporary certificate of occupancy shall be conclusive unless a temporary certificate of occupancy is unavailable or delayed due to Tenant that causes which are Tenant's responsibility. If on the Commencement Date Date, Punch List Work remains to be completed, Landlord and as part Tenant shall agree on such Punch List Work prior to occupancy by Tenant and Landlord will promptly complete it after the Commencement Date. In no event shall Tenant's refusal or failure to agree on the nature and extent of Punch List Work or the existence of items of Punch List Work delay or postpone the occurrence of the Base Building Work at Landlord’s cost (Commencement Date. Tenant shall make no changes to the Plans and not part Specifications or the work reflected in the Plans and Specifications without the consent of Landlord’s Cap) (i) the Demised Premises and Building Structure will , which consent shall not be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcunreasonably withheld.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Gross Lease (Clicksoftware Technologies LTD)

Commencement Date. The Term shall be for the period of time specified in the Basic Lease Information unless sooner terminated as hereinafter provided. The Term shall commence on the date the Premises are delivered to the Tenant in “substantially completed” condition (as defined in the Work Letter Agreement), subject to adjustment for “Tenant Delays” as provided in the Work Letter Agreement and shall continue thereafter in full force and effect for the period specified as the Term or until this Lease is terminated as otherwise provided herein; provided, Tenant shall have the option, to be exercised by written notice (“Commencement Date Delay Notice”) to Landlord delivered no later than two (2) days after Tenant has received notice of this Lease the date that the Premises will be substantially complete, to delay the commencement of the Term for a period not to exceed thirty (30) days after the date that the Premises are substantially complete (as such date of substantial completion may be adjusted for Tenant Delays as provided in the Work Letter). The date of substantial completion or, if Tenant delivers a Commencement Date Delay Notice, such delayed date, shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law“Commencement Date”. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed Premises are not substantially completed by Tenant DelaysSeptember 1, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost 2008 (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building WorkOutside Date”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete make other space in the above modifications to Building or in other buildings owned by Landlord in the vicinity of the Building, available for Tenant’s HVAC system use on a temporary basis pending substantial completion of the Premises, at the same base rental rate per rentable square foot as would be payable by Tenant under this Lease. The Outside Date shall be extended by one (1) day for each day of Tenant Delay or prior Force Majeure delay (as defined in Section 22.15 below). For purposes of this Lease, the first “Lease Year” shall mean the period commencing on the Commencement Date and ending twelve (12) months thereafter, except that if the Commencement Date is other than the first day of a calendar month, the first “Lease Year” shall mean the period commencing on the Commencement Date and ending on the last day of the twelfth (12th) full calendar month after the Commencement Date. Thereafter, the term “Lease Year” shall mean a period equal to December 1, 2021twelve (12) full calendar months.

Appears in 1 contract

Samples: Lease (Enphase Energy, Inc.)

Commencement Date. The Commencement Date term of this Lease shall be the later of for ninety-six (a96) December months ("Lease Term"), unless sooner terminated as hereinafter provided. The Lease Term shall commence on January 1, 20212003 (the "Scheduled Commencement Date"); provided, however, that if either the first or second floors of the Premises are not Substantially Complete (as hereinafter defined) by the Scheduled Commencement Date, and such a delay is due solely to a Landlord Delay (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps defined in the Demised Premises found not to be functioning will be repaired Work Letter), or replaced; two of the three cooling towers will be retrofitted with new water treatment systems Force Majeure (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”as defined in Article 52). Notwithstanding the foregoing, the Commencement Date of the Lease shall occur once be extended on a day for day basis for each day of such a delay. In the event the Tenant Improvements (as defined in the Work Letter) on either the first or second floors of the Premises are Substantially Complete prior to the Scheduled Commencement Date, Tenant shall have the right to early occupancy of such floor of the Premises, subject to all the terms and conditions of this Lease, except for Tenant's obligation to pay Rent (as defined below). Tenant hereby acknowledges and agrees that the installation of the elevator and the demising of the lobby of the Premises shall be completed by Tenant, at Landlord’s 's cost and expense, pursuant to the terms of the Work is Letter; provided, however, that the completion of such work shall not be a condition to the commencement of the Lease. The first and second floors of the Premises shall be deemed to be "Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true Complete" with respect to such floor on the Commencement Date and earliest of the date on which: (1) Landlord has commenced or Tenant files or causes to be filed with the Base Building Work and City of Milpitas (the "City"), if required, an architect's notice of substantial completion, with respect to such floor of the Premises, or similar written notice that such floor of the Premises is working diligently to Substantially Complete substantially complete, (2) Tenant first occupies such floor of the Base Building Work. Subject to any Force MajeurePremises for the operation of Tenant's business, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc(3) a certificate of occupancy (or a reasonably substantial equivalent such as a signoff from a building inspector or a temporary certificate of occupancy) is issued for such floor of the Premises.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.

Appears in 1 contract

Samples: Article 16 (Xicor Inc)

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