Common use of Commencement Date Clause in Contracts

Commencement Date. (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 2 contracts

Sources: Lease Agreement (Embassy Bancorp, Inc.), Lease Agreement (Embassy Bancorp, Inc.)

Commencement Date. (a) The term Commencement Date of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier later of (a) the opening for business or December 1, 2021, and (b) six (6) months after the date when 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 delivers 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 Pad Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to Tenant provided Landlord has substantially completed all other site work as set forth 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 Exhibit "L" by the end 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 such six the three cooling towers will be retrofitted with new water treatment systems (6two have been retrofitted already) month period(items (i) – (v) above, unless Landlord 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 prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at Substantially Completed even though the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Base Building Work is not substantially complete by Substantially Completed as long as the end of Base Building Representations are true on the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease 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 be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement DateDecember 1, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred2021.

Appears in 2 contracts

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

Commencement Date. Commencing on the earliest to occur of: (ai) The term the date on which Tenant occupies any portion of this Lease shall be the period specified in Section "1.2" hereof 4th Floor Space or the 6th Floor Space, as the "Lease Term". The "Rent case may be; (ii) the date on which the 4th Floor Work or the 6th Floor Work (as defined herein) is Substantially Completed (as defined in Exhibit B attached hereto); or (iii) the date on which the 4th Floor Work or the 6th Floor Work, as the case may be, would have been Substantially Completed but for the occurrence of any Tenant Delay Days (as defined in Exhibit B attached hereto) (such dates referred to herein as the “4th Floor Space Commencement Date" of this Lease shall commence ” or “4FSCD” and the “6th Floor Space Commencement Date” or “6FSCD”), and expiring on the earlier of Expansion Space Expiration Date (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Datedefined below), Tenant shall commence paying rent 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 other charges subject to and in accordance with the provisions terms and conditions of this Section 3.1 (a) the Lease, as amended hereby. As used herein, the “4th Floor Work” and the failure “6th Floor Work” shall mean and refer to have those certain improvements to the building completed shall not be an Event of Default4th Floor Space and the 6th Floor Space, unless as the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Datecase may be, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under Landlord in accordance with the terms of this Amendment and Exhibit B hereto, including the Lease (Connecting Stairwell and/or a Light Well, as provided in addition Exhibit B hereto. The 4th Floor Work and the 6th Floor Work shall be collectively referred to herein as the “Expansion Space Work.” In connection with the Expansion Space Work, Landlord shall perform certain improvements to the obligations required to be performed Existing Premises, as indicated in the Expansion Space Plans (as defined below) approved by the Tenant prior to the Rent Commencement Date). (c) As soon as may parties. For purposes of this Amendment, such improvements shall be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other included in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all definition of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completedExpansion Space Work. Tenant shall place in its name, any utilities which Tenant requires hereby acknowledges that Landlord will be performing the Expansion Space Work during the performance of Tenant's WorkTerm (as extended hereby), and Tenant shall not be responsible for 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 all utility charges incurredin good faith in connection with ▇▇▇▇▇▇▇▇’s prosecution of the Expansion Space Work, including, without limitation, by granting Landlord access to the Existing Premises and the Expansion Space and by promptly responding to matters arising in connection with the Expansion Space Work.

Appears in 2 contracts

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

Commencement Date. (a) The term Scheduled Commencement Date shall be only an estimate of the actual Commencement Date, and the Lease Term shall begin on the first to occur of the following, which shall be the “Commencement Date”: (i) the date Landlord offers to deliver possession of the Premises to Tenant following substantial completion of all improvements to be constructed by Landlord pursuant to Section 2.3 except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Use, or (ii) the date Tenant reenters into occupancy of all of the Premises after having vacated pursuant to Section 2.8. Notwithstanding the foregoing, the actual Commencement Date shall not be earlier than September 1, 2017. Promptly following the delivery of possession of the Premises by Landlord to Tenant, Landlord shall deliver Tenant written confirmation of the Commencement Date and such other terms as Landlord shall determine appropriate; provided, however, failure to deliver such written confirmation shall not affect the Commencement Date. (b) Notwithstanding anything in this Lease to the contrary, Tenant (upon no less than five (5) business days’ notice to Landlord) shall have the unilateral right to occupy those certain portions of the Premises (as applicable, instead of the entire Premises) (1) in which Landlord has substantially completed the improvements required pursuant to Article 2.3 below and determined that such portion of the Premises is prepared for occupancy, both as Landlord reasonably determines; and (2) for which Tenant has received a temporary certificate of occupancy, in which event, (i) the Commencement Date shall not be deemed to have occurred until determined pursuant to Section 2.1(a) but such tenancy and occupancy by Tenant shall be subject to all terms and conditions of this Lease notwithstanding that the Commencement Date has not yet occurred, and (ii) Tenant’s Base Monthly Rent due and owing under this Lease shall be pro-rated on a per square footage basis until the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)Date occurs. (c) As soon Reference is herein made to those certain improvements, additions and/or alterations being constructed by Landlord to the Common Area (the “Common Area Improvements”). A list of all Common Area Improvements planned as may be convenient after of the Rent Commencement Lease Reference Date has been determined, Landlord and Tenant agree is attached hereto as Exhibit E. Notwithstanding anything in this Lease to join with each other in the execution of a Commencement Certificatecontrary, in the form set forth on Exhibit "C". The event the Common Area Improvements are not substantially completed by September 1, 2017, and the remaining Common Area Improvements to be performed directly and materially adversely impact Tenant’s use and enjoyment of the Premises, the Base Monthly Rent Commencement Date otherwise due and specified term of owing under this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter $23,995.10 until the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all earlier of the terms, covenants date on which the Common Area Improvements are substantially completed or the remaining Common Area Improvements to be completed no longer directly and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent materially adversely impact Tenant’s use and any other charges payable by Tenant, which shall go into effect as enjoyment of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredPremises.

Appears in 2 contracts

Sources: Office Lease (Arteris, Inc.), Office Lease (Arteris, Inc.)

Commencement Date. (a) The Subject to satisfaction of the condition set forth in Section 13 hereof, the term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Sublease (“Sublease Term". The "Rent Commencement Date" of this Lease ”) shall commence on April 1, 2022 (“Commencement Date”), and expire, unless sooner terminated, on October 31, 2030 (“Expiration Date”). If Sublandlord is unable to deliver possession of the earlier Sublease Premises to Subtenant on or before any particular date, for any reason, Sublandlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Sublease nor the obligations of Subtenant hereunder (asubject to Section 12 hereof), but, in such event, the Commencement Date shall be such date that Sublandlord gives Subtenant written notice that (A) Master Landlord has consented to this Sublease in accordance with Section 13 hereof and (B) the opening Sublease Premises are ready for business or occupancy. Notwithstanding any provision in the Master Lease granting Sublandlord, as “Tenant,” an option to extend the term thereof (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month periodincluding, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T"without limitation, in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end Section 2.2 of the six Master Lease), Subtenant shall have no option to extend the term of this Sublease. Within ten (610) month perioddays after Sublandlord’s request, not due Subtenant shall execute and deliver to Tenant's fault, Sublandlord a written confirmation of the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent Date and all other charges subject matters set forth therein (and if Subtenant fails to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Defaultdo so, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to have executed and returned the same without exception). Such confirmation shall be additional rent conclusive and binding upon Sublandlord and Subtenant; provided, however, Sublandlord’s failure to deliver any such written confirmation to Subtenant shall not affect Sublandlord’s determination of the Commencement Date. Subtenant shall have reasonable early access to the Subleased Premises beginning on the date Sublandlord has vacated the Sublease Premises (iibut in no event later than February 1, 2022 or earlier than the date Master Landlord consents to this Sublease) be required (such date the “Early Access Date”) until the Commencement Date (the “Early Access Period”). During such Early Access Period, Subtenant shall not conduct business operations in the Sublease Premises or any portion thereof, but, subject to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to Sublease, Subtenant may, during such Early Access Period, install its furniture, furnishings and equipment in the parties as if Sublease Premises and install its telephone and telecommunication equipment in the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completedSublease Premises. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant Subtenant’s early access shall be responsible subject to all the terms and conditions of this Sublease, including, without limitation, all insurance and maintenance obligations, except for any and all utility charges incurredthe obligation to pay Rent.

Appears in 2 contracts

Sources: Sublease (Credo Technology Group Holding LTD), Sublease (Credo Technology Group Holding LTD)

Commencement Date. (a) The term of this Lease Commencement Date shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of date which is ninety (a90) the opening for business or (b) six (6) months days after the date when Landlord delivers that the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant [as defined in Subparagraph 1(a) of the Work Letter Agreement attached hereto as Exhibit "C" ("Work Letter Agreement")] has been substantially completed such work to enable Landlord to complete its work. If (as defined below); provided, however, the Commencement Date may be advanced or extended as follows: (i) if substantial completion of the Landlord's Work is not substantially complete by delayed as a result of any Tenant Delays (as defined in the end of Work Letter Agreement), then the six (6) month period, not due to Tenant's fault, the Rent 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 delayed in the substantial completion of the Tenant Improvements beyond the ninety (90) day period set forth in this sentence as a result of Landlord Delays (as defined in the Work Letter Agreement), then for each day of such delay the Commencement Date shall be extended until by one (1) day. For purposes of this Lease, the Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent "substantially completed" when Landlord's contractor certifies in writing ("Landlord's Work Substantial Completion Certificate") to Landlord and (ii) be required to perform Tenant that Landlord has substantially performed all obligations of the Landlord's Work required to be performed by the Tenant Landlord under the terms of the Lease (in addition Work Letter Agreement other than minor "punch-list" type items and adjustments which do not materially interfere with Tenant's access to the obligations required to be performed by Premises. Within seven (7) days after Tenant receives the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Landlord's Work Substantial Completion Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible entitled to have its architect inspect the Landlord's Work for any purposes of confirming the matters set forth in the Landlord's Work Substantial Completion Certificate, 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 all utility charges incurredSpecifications (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 of the Building.

Appears in 1 contract

Sources: Office Building Lease (Kana Communications Inc)

Commencement Date. Notwithstanding anything to the contrary contained in the Lease, Tenant shall have an ongoing option (athe "Acceleration Option") The 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 shall use reasonable efforts to deliver the Accelerated Increment 4 Space to Tenant on the 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 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 this the Lease as respects the Accelerated Increment 4 Space shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall not commence on the earlier of (a) the opening for business or (b) six (6) months after the date when until Landlord delivers the Building Pad 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 the Rent and on the other terms and conditions applicable to Increment 4 as set forth in the Lease, except as expressly provided Landlord has substantially completed all other site work above, and except further that (i) the Rent Commencement Date shall be ninety (90) days after the Commencement Date of such Accelerated Increment 4 Space, (ii) the Allowance for the Accelerated Increment 4 Space shall be pro-rated to reflect the Lease Term with respect to the Accelerated Increment 4 Space as set forth on Exhibit "L" by the end of such six Schedule 3 attached hereto, and (6iii) month period, unless Landlord is prevented by Tenant's failure pursuant to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and clause (ii) be required to perform all obligations required to be performed by the Tenant under the terms of Section I.F. of the Lease (Work Letter, in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon Allowance, and not as may be convenient after the Rent Commencement Date has been determineda deduction therefrom, Landlord shall reimburse Tenant up to Two and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. 5011 00 Dollars (d$2.50) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all per rentable square foot of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredAccelerated Increment 4 Space.

Appears in 1 contract

Sources: Lease (Zulily, Inc.)

Commencement Date. (a) The term of this Lease As herein used, the phrase "commencement date" shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on mean the earlier of of: (ai) the opening day Tenant opens for business in the demised premises, or (ii) ninety (90) 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) six (6) months after below. Landlord agrees to deliver the date when Landlord delivers the Building Pad demised premises to Tenant provided Landlord has substantially completed all other site work with Landlord's Work (as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "TB", in which event Tenant shall commence paying rent at attached hereto and made a part hereof) completed between July 1, 2005 and August 15, 2005 (the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business"Delivery Period"). Landlord will complete shall give Tenant notice (the "Estimated Delivery Notice") no later than May 1, 2005 of the status of Landlord's construction and the estimated date that Landlord shall deliver the Premises to Tenant with Landlord's Work when 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 has completed such work to enable Landlord to complete its work. If a final notice (the "Final Delivery Notice") of a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work is shall be substantially completed and the Leased 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 substantially complete delivered a Final Delivery Notice by the end 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 six (6) month periodDelivery Period. If Landlord does not deliver the demised premises to Tenant as required herein by August 15, 2005, Tenant may defer delivery until January 2, 2006. If Landlord does not due deliver the demised premises to Tenant's faultTenant thereafter on or before July 1, 2006, Tenant may terminate this Lease or defer delivery until December 1, 2006. In the Rent Commencement Date, shall be extended until event that the demised premises and Landlord's Work is are not substantially complete. If Tenant's building is not complete by completed and delivered to Tenant on or before the Rent Commencement Final Delivery Date, Tenant the minimum rent due hereunder shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Defaultadjusted so that, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (i1) 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, including substantial completion of the Landlord's Work. Tenant shall not be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms accept possession of the Lease (in addition to the obligations required to be performed by the Tenant demised premises prior to the Rent Commencement Date). later of (a) substantial completion of Landlord's Work, (b) the first day of the Delivery Period and (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in Final Delivery Date. Time is of the execution of a Commencement Certificate, in the form essence regarding all dates set forth on Exhibit "C"in this Section 3(a). The Rent Commencement Date and specified term Landlord shall obtain a certificate of this Lease shall be stated in said Commencement Certificate. (d) It occupancy or completion, permit or the local equivalent that is understood and agreed required for Landlord's Work at the demised premises so that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, may obtain a building permit for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the and commence performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredthe same.

Appears in 1 contract

Sources: Lease (Retail Ventures Inc)

Commencement Date. (aA) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the date that Landlord delivers vacant and exclusive possession of the Premises to Tenant with Landlord’s Premises Work Substantially Complete (such date that Landlord delivers vacant and exclusive possession of the Premises to Tenant with Landlord’s Premises Work Substantially Complete being referred to herein as the “Commencement Date”). Landlord shall give Tenant at least ten (10) days advance notice of the occurrence of the Commencement Date (it being understood that Landlord shall have the right to give more than one (1) such notice as hereinafter provided), with the understanding, however, that (x) Landlord shall not be in default if the Commencement Date occurs earlier of or later than the date that Landlord specifies in any such notice to Tenant, provided that Landlord gives such notice to Tenant in good faith, and (ay) the opening for business Commencement Date shall occur as otherwise provided in this Lease notwithstanding that the Commencement Date occurs earlier or (b) six (6) months after later than the date when that Landlord delivers the Building Pad specifies in any such notice, provided that Landlord gives such notice to Tenant provided in good faith. (B) Landlord has substantially completed all other site work as set forth shall use commercially reasonable efforts to Substantially Complete Landlord’s Premises Work on Exhibit "L" by the end of such six (6) month periodor prior October 1, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work2021. If Landlord's ’s Premises Work is not substantially complete Substantially Complete on or prior to January 1, 2022, as such date may be adjourned by periods of Unavoidable Delays (including, without limitation, Epidemic/Pandemic Unavoidable Delays) (but not to exceed sixty (60) days in the end of aggregate for any Unavoidable Delays other than Epidemic/Pandemic Unavoidable Delays), Tenant Work Delays and/or Long Lead Work (such date, as the six (6) month period, not due to Tenant's faultsame may be so adjourned, the “First Outside Date”), then each Applicable Rent Commencement Date, Date shall be extended until Landlord's Work is substantially complete. If adjourned, as Tenant's building is not complete by the Rent Commencement Date’s sole remedy, Tenant shall commence paying rent and all other charges subject to the provisions of other remedy in this Section 3.1 1.2(B), by one (a1) and day for each day occurring during the failure period commencing on the First Outside Date until the earlier to have the building completed shall not be an Event occur of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rentday immediately preceding the date Landlord’s Premises Work is Substantially Complete, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) the Second Outside Date. If Landlord’s Premises Work is not Substantially Complete on or prior to April 1, 2022, as such date may be required adjourned by periods of Unavoidable Delays (including, without limitation, Epidemic/Pandemic Unavoidable Delays) (but not to perform all obligations required to exceed sixty (60) days in the aggregate for any Unavoidable Delays other than Epidemic/Pandemic Unavoidable Delays), Tenant Work Delays and/or Long Lead Work (such date, as the same may be performed by so adjourned, the Tenant under the terms of the Lease (in addition “Second Outside Date”), then each Applicable Rent Commencement Date shall be adjourned, as Tenant’s sole remedy, subject to the obligations required to be performed other remedy in this Section 1.2(B), by two (2) days for each day occurring during the Tenant period commencing on the Second Outside Date until the day immediately preceding the date Landlord’s Premises Work is Substantially Complete. If Landlord’s Premises Work is not Substantially Complete on or prior to the Rent Commencement Date). (c) As soon date that a Successor succeeds to Landlord’s interest in the Real Property as provided in Article 13 hereof, as such date may be convenient adjourned by periods of Unavoidable Delays (including, without limitation, Epidemic/Pandemic Unavoidable Delays) (but not to exceed sixty (60) days in the aggregate for any Unavoidable Delays other than Epidemic/Pandemic Unavoidable Delays), Tenant Work Delays and/or Long Lead Work (such date, as the same may be so extended, the “Third Outside Date”) then Tenant, as Tenant’s sole remedy, subject to the other remedies expressly set forth in this Section 1.2(B), shall have the right to terminate this Lease by giving notice thereof (a “Termination Notice”) to Landlord no later than the thirtieth (30th) day after the Rent Commencement Third Outside Date has been determined(as to which thirtieth (30th) day time shall be of the essence). If Tenant delivers the Termination Notice to Landlord and Landlord’s Premises Work is not Substantially Complete on or prior to the fifth (5th) day after Tenant’s delivery of the Termination Notice, then this Lease shall automatically terminate on such fifth (5th) day; it being understood, however, that if Landlord shall deliver the Premises to Tenant with Landlord’s Premises Work Substantially Complete by such fifth (5th) day, then such Termination Notice shall be deemed null and void and this Lease shall remain in full force and effect and Tenant shall have no further right to terminate this Lease pursuant to this Section 1.2(B). If Tenant effectively exercises such aforesaid right to terminate this Lease, then, subject to the terms hereof, from and after the Third Outside Date, neither party shall have any further rights or obligations hereunder except for those obligations which expressly survive the Expiration Date. For purposes of clarity, Landlord and Tenant agree to join with each other in that there shall be no cap on the execution number of a Commencement Certificatedays that the First Outside Date, in the form set forth on Exhibit "C". The Rent Commencement Second Outside Date and specified term the Third Outside Date are each adjourned as a result of this Lease shall be stated in said Commencement CertificateEpidemic/Pandemic Unavoidable Delays. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (fuboTV Inc. /FL)

Commencement Date. (a) The term Notwithstanding any provision to the contrary contained in the Lease, and subject to the terms and conditions contained herein, the commencement date of this the Lease for the Expansion Space shall be September 1, 2006 (the period specified in Section "1.2" hereof as the "Lease Term". The "Rent “Expansion Space Commencement Date" of this Lease shall commence ”). Landlord will deliver to Tenant and Tenant will accept the Expansion Space on the earlier Expansion Space Commencement Date in its “as-is” condition. Tenant acknowledges that neither Landlord nor its agents or employees have made any representations or warranties as to the suitability or fitness of (a) the opening Expansion Space for the conduct of Tenant’s business or for any other purpose. Neither Landlord nor its agents or employees have agreed to undertake any alterations or construct any tenant improvements to the Original Premises or the Expansion Space. (b) six (6) months after Even though the date when Landlord delivers Expansion Period commences on the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Expansion Space Commencement Date, Tenant shall commence paying rent be permitted to occupy the Expansion Space upon mutual execution of this Second Amendment and Tenant’s payment of the first months Rent due for the Expansion Period (“Early Occupancy”). Tenant’s Early Occupancy of the Expansion Space is conditioned upon Tenant’s agreement to be responsible for all other charges obligations existing under the Lease. Any early entry will be at Tenant’s sole risk and subject to all the terms and provisions of this Section 3.1 Lease as though the Expansion Space Commencement Date had occurred, except for the payment of Rent (a) and other than the failure to have first months Rent), which will commence on the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may Tenant shall diligently apply for all licenses and permits in relation to the Expansion Space. In the event Tenant’s receipt of its business license is delayed due to requirements resulting from the fire inspection to be convenient after done during the Rent permitting process, the Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. delayed only if (di) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after fire inspection requires certain work be done to the Execution Date and Expansion Space prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Workoccupancy, and Tenant shall be responsible for any and all utility charges incurred(ii) the work required is due to conditions that existed prior to Tenant’s Early Occupancy period.

Appears in 1 contract

Sources: Lease (CardioVascular BioTherapeutics, Inc.)

Commencement Date. (a) The term of this Lease As herein used, the phrase “commencement date” shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on mean the earlier of of: (ai) the opening 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) six (6) months after below. Landlord agrees to deliver the date when Landlord delivers the Building Pad demised premises to Tenant provided Landlord has substantially completed all other site work with Landlord’s Work (as set forth on Exhibit "L" “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 end 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 such six (6) month periodthe Delivery Period. If Landlord does not deliver the demised premises to Tenant as required herein by October 15, unless 2006, Tenant may defer delivery until January 2, 2007. If Landlord is prevented by Tenant's 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 complete Tenant's Work as set forth deliver the demised premises to Tenant on Exhibit "T"or before July 1, in 2007 is due to an event of force majeure which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that occurs on or after May 1, 2007, Tenant may not have completed Tenant's 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 or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is are not substantially complete by completed and delivered to Tenant on or before the end of the six (6) month period, not due to Tenant's faultFinal Delivery Date, the Rent Commencement Date, minimum rent due hereunder shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Dateadjusted so that, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (i1) 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, 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) substantial completion of Landlord’s Work, (b) the first day of the Delivery Period and (c) the Final Delivery Date. Time is of the essence regarding all dates set forth in this Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work at the demised premises so that Tenant may obtain a building permit for Tenant’s Work and commence payment performance of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all same. (b) Possession of which the demised premises shall not be deemed to be additional rent have been given to Tenant unless the demised premises are ready for the installation of Tenant’s fixtures and (ii) be required to perform all obligations required to be performed finishing work by the Tenant under the terms Tenant, and are free of the Lease (in addition any violation of laws, ordinances, regulations and building restrictions relating to the obligations possession or use of or construction upon the demised premises, and until Landlord has substantially completed Landlord’s Work. Tenant shall supply Landlord with Tenant’s prototypical plans and specifications, and Landlord shall prepare plans and specifications for the Premises at Landlord’s expense, for Tenant’s approval. All such Landlord’s Work shall be done at Landlord’s expense and in compliance with all applicable federal, state and local laws, rules, regulations and code requirements. Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required to be performed by for Landlord’s Work at the Tenant prior to the Rent Commencement Date)demised premises as part of Landlord’s Work. (c) As soon Prior to the date on which possession is delivered to Tenant as may aforesaid, Tenant shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and receiving merchandise and other property, provided that it does not unreasonably interfere with Landlord’s construction activities. All work other than that to be convenient performed by Landlord is to be done by Tenant within ninety (90) days after the Rent Commencement Date date possession of the demised premises has been determineddelivered to Tenant, Landlord and Tenant agree to join at Tenant’s expense in accordance with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term provisions of this Lease and as set forth in the schedule entitled Description of Tenant’s Work and attached hereto as Exhibit “C” and made a part hereof. All Tenant’s Work shall be stated performed lien free by Tenant, in a good and workmanlike manner (employing materials of good quality) in compliance with all governmental requirements. In the event a mechanic’s lien is filed against the demised premises or the Shopping Center on account of Tenant’s Work, Tenant shall discharge or bond off same within ten (10) days from the filing thereof. If Tenant fails to discharge said Commencement Certificatelien, Landlord may bond off or pay same without inquiring into the validity or merits of such lien, and all sums so advanced shall be paid on demand by Tenant as additional rent. (d) It is understood From the date upon which the demised premises are delivered to Tenant for its work until the commencement date of the lease term, Tenant shall observe and agreed that at such time as perform all of its obligations under this Lease (except Tenant’s obligation to operate and pay minimum rent, percentage rent and “Tenant’s Proportionate Share” (defined in Section 16(c) below) of “Maintenance Costs” (defined and provided for in Section 16(b) hereof) “real estate taxes” (defined and provided for in Section 28(b) hereof) and insurance (provided for in Section 28 hereof). In the event Tenant or its employees, agents, contractors or invitees enter the Premises fails to open for business within one hundred twenty (120) days after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all date possession of the terms, covenants and conditions of this Lease shall apply demised premises has been delivered to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement DateLandlord, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for addition to any and all utility other available remedies, may require Tenant to pay to Landlord, in addition to all other rent and charges incurredherein, as liquidated damages and not as a penalty, an amount equal to one-three hundred sixty five thousandths (1/365) of the annual minimum rent for each day such failure to open continues.

Appears in 1 contract

Sources: Lease Agreement (Retail Ventures Inc)

Commencement Date. The commencement date for the Landlord Build Premises (the “Landlord Build Premises Commencement Date”) shall occur on the later of (a) The term December 1, 2018, or (b) subject to the terms of this Lease shall be Exhibit D hereto, sixty (60) days following the Substantial Completion of the Landlord’s Work (as such terms are defined in the Work Letter attached as Exhibit D hereto), such sixty (60) day period specified in Section "1.2" hereof being referred to herein as the "Lease Term"“Tenant Build Out Period”) . The "Rent commencement date for the First Floor South Wing Premises (the “First Floor South Wing Premises Commencement Date" of this Lease ”) shall commence occur on the earlier of (a) the opening for date on which Tenant occupies the First Floor South Wing Premises and begins conducting business therein, or (b) six December 1, 2018. The phrase “begins conducting business” (6and other phrases of similar import) months shall not include use of the applicable portion of the Premises by Tenant solely for the storage, construction, staging or the construction or installation of Tenant’s Work by Tenant pursuant to Exhibit D of this Lease. As used herein, the term “Commencement Date” shall mean the date on which both the First Floor South Wing Premises Commencement Date and the Landlord Build Premises Commencement Date have occurred. Notwithstanding the foregoing, if Tenant desires to begin conducting business in all or any part of the First Floor South Wing Premises, the First Floor North Wing Premises, the Fifth Floor Premises, or the Sixth Floor Premises after the date when same are ready for occupancy but prior to December 1, 2018 (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 delivers the Building Pad prior to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six use; provided, however, that (61) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at Rent hereunder; provided, however, that the end Rent due hereunder shall be prorated based on a fraction the numerator of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work which is not substantially complete by the end Rentable Area of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) Early Occupancy Space and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all denominator of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by is the Tenant under the terms Rentable Area of the Lease Premises; (2) such use shall otherwise be in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join strict accordance with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants terms and conditions of this Lease Lease; and (3) such use shall apply 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 parties as if First Floor South Wing Premises, the Lease Term had begun at such time excepting those provisions as First Floor North Wing Premises, the Fifth Floor Premises or the Sixth Floor Premises, whether concurrently or serially, prior to Minimum RentDecember 1, Additional Rent and any other charges payable by Tenant2018, which shall go into effect as of then the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities first date on which Tenant requires during so operates within the performance of Tenant's Work, and Tenant entire Premises shall be responsible for any and all utility charges incurredconstitute the Commencement Date hereunder.

Appears in 1 contract

Sources: Lease Agreement (Cerus Corp)

Commencement Date. (a) The term of this Lease As herein used, the phrase "commencement date" shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on mean the earlier of of: (ai) the opening day Tenant opens for business in the demised premises, or (ii) ninety (90) 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) six below. Landlord agrees to deliver the demised premises to Tenant with Landlord's work completed between March 1, 2004 and June 1, 2004 (6the "Delivery Period"). Landlord shall give Tenant notice (the "Estimated Delivery Notice") months no later than January 1, 2004 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 revise the Estimated Delivery Date any time prior to February 1, 2004 (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 Leased Premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. The Final Delivery Date shall not be earlier than (i) thirty (30) days after the date when Tenant receives the Final Delivery Notice, or (ii) the first day of the Delivery Period. The parties agree that they shall conduct a joint walk-through of the premises approximately two (2) weeks prior to delivery to ascertain the status of Landlord's construction and identify incomplete matters. If Landlord delivers does not deliver the Building Pad demised premises to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" required herein by the end of such six (6) month periodSeptember 1, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T"2004, in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may defer delivery until January 1, 2005. If Landlord does not have completed Tenant's Work deliver the demised premises to Tenant thereafter on or opened for businessbefore February 1, 2005, Tenant may terminate this Lease or defer delivery until June 1, 2005. Landlord will complete In the event that the demised premises and Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is are not substantially complete by completed and delivered to Tenant on or before the end of the six (6) month period, not due to Tenant's faultFinal Delivery Date, the Rent Commencement Date, minimum rent due hereunder shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Dateadjusted so that, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (i1) 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, including substantial completion of the Landlord's Work. Tenant shall not be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms accept possession of the Lease (in addition to the obligations required to be performed by the Tenant demised premises prior to the Rent Commencement Date). later of (a) substantial completion of Landlord's Work, (b) the first day of the Delivery Period and (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in Final Delivery Date. Time is of the execution of a Commencement Certificate, in the form essence regarding all dates set forth on Exhibit "C"in this Section 3(a). The Rent Commencement Date and specified term Landlord shall obtain a certificate of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time occupancy for the demised premises as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance part of TenantLandlord's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease (Retail Ventures Inc)

Commencement Date. (a) The term commencement date of this Lease Sublease (the “Commencement Date”) shall be the period specified in Section "1.2" hereof as date on which all of the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of following conditions have occurred: (a) the opening for business full execution and delivery of this Sublease or a copy thereof to Sublandlord and Subtenant or their respective attorneys; (b) six the Master Landlord consents in writing to this Sublease substantially in the form attached hereto and made a part hereof as Exhibit F (6“Master Landlord Consent”) months after the date when Landlord (or is deemed to have consented to this Sublease as hereinafter provided) as described in Article 3 below; (c) Sublandlord delivers the Building Pad Sublease Premises to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six Subtenant vacant (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a10.5 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 failure “Commencement Date Conditions”). Possession of the Sublease Premises shall be delivered to have Subtenant upon execution of this Sublease and receipt of the building completed executed Master Landlord’s Consent, in vacant (subject to the 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 Rent and Additional 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 be an Event interfere with Sublandlord’s Work during such access. The date on which the Sublease Premises is 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 Default, unless Exhibit C attached hereto confirming the Tenant's building is not completed by Commencement Date promptly following the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms provided that any failure of the Lease (in addition parties to execute such written agreement shall not affect the obligations required to be performed by validity of the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificateas established as aforesaid. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Sublease (Hudson Holding Corp)

Commencement Date. (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on be the earlier of (a) the opening for date Lessee commences business operations in the Premises, or (b) six (6) months after the date Lessor delivers possession of the Premises to Lessee with Lessor's Work substantially completed. For purposes hereof Lessor's Work shall be EXHIBIT B deemed "substantially completed" when Landlord delivers the Building Pad Contractor completes the Lessor's Work pursuant to Tenant provided Landlord has 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 all other site work as 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 extension of the Commencement Date until the earlier of the two dates set forth on Exhibit "L" by in Paragraphs 3(a) and (b) above. Notwithstanding the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the foregoing provisions of this Section 3.1 (a) and Paragraph 3 to the failure contrary, to have the building extent Lessor is delayed in delivering possession of the Premises to Lessee with Lessor's Work substantially completed shall not be an Event as a result of Default, unless the Tenant's building is not completed 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 provided in Section 3.3(a) below, (b) Upon the Rent Commencement DateDate would have occurred but for such Tenant Delays; provided, the however, that no Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which Delay shall be deemed to be additional rent occur unless and until Lessor has provided notice to Lessee (iithe "Delay Notice") be required to perform all obligations required to be performed specifying the action or inaction by Lessee which Lessor contends constitutes the Tenant under Delay. If such action or inaction is not cured by Lessee within one (1) business day of receipt of such Delay Notice (the terms of the Lease (in addition to the obligations required to be performed by the "Grace Period"), then a Tenant prior to the Rent Commencement Date). (c) As soon Delay, as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease in such Delay Notice, shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior deemed to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect have occurred commencing as of the Rent Commencement Dateexpiration of the Grace Period; provided that Lessee shall only be permitted an aggregate of three (3) days of Grace Period and, even if Tenant's Work is not completed. thereafter, a Tenant Delay shall place in its name, any utilities which Tenant requires during commence upon delivery of the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredDelay Notice to Lessee.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Graham Field Health Products Inc)

Commencement Date. (a) The term of this Lease ("Lease Term") shall be for the period specified in Section Paragraph 1.5 above, commencing on the date set forth in Paragraph 1.6 ("1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on "); provided, however, in the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad event any improvements to Tenant provided Landlord has substantially completed all other site work be constructed by Landlord, as set forth on Exhibit "L" by the end of such six (6) month periodC, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is are not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent aforesaid Commencement Date or are completed prior to such Commencement Date, then the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which Commencement Date shall be deemed to be additional rent the date on which the improvements to be constructed by Landlord are substantially completed. Such improvements shall be deemed to be substantially completed upon the occurrence of the earlier of the following: (a) The date on which all improvements to be constructed by Landlord have been substantially completed except for punch list items which do not prevent Tenant from using the Premises for its intended use, and the appropriate governmental approvals for occupancy of the Premises have been issued; or (b) The date on which all improvements to be constructed by Landlord would have been substantially completed except for such work as Landlord is required to perform but which is delayed because of any of the following (each, a "Tenant Delay"): (i) fault or neglect of Tenant, acts of Tenant or Tenant's agents (including without limitation delays caused by work done on the Premises by Tenant or Tenant's agents or by acts of Tenant's contractors or subcontractors); (ii) be delays caused by change orders requested by Tenant or required because of any errors or omissions in plans submitted by Tenant; and (iii) such work as Landlord is required to perform all obligations but cannot complete until Tenant performs necessary portions of construction work it has elected or is required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date).do; or (c) As soon as may The date Tenant opens for business in the Premises. If the improvements to be convenient after constructed by Landlord are deemed to be substantially completed pursuant to Paragraph 3.1(b) above, Tenant acknowledges that the Rent Commencement Date has been determinedshall occur, and therefore Tenant's obligation to pay Rentals shall commence, earlier than the date of actual completion of such improvements. The improvements to be constructed by Landlord shall be deemed to be substantially completed one day earlier than the date of actual completion for each day that actual completion is delayed by reason of a Tenant Delay. If the Commencement Date is a date other than the date set forth in Paragraph 1.6, then the Ending Date set forth in Paragraph 1.7, the rental adjustment dates set forth in Paragraph 1.8 and any other certain dates specified herein shall be adjusted accordingly. When the Commencement Date, Ending Date, rental adjustment dates, and such other dates become ascertainable, Landlord and Tenant agree to join with each other shall specify the same in the execution of a Commencement Certificatewriting, in the form set forth on of the attached Exhibit "C"D, which writing shall be deemed incorporated herein. Tenant's failure to execute and deliver the letter attached hereto as Exhibit D within thirty (30) days after Tenant receives written request from Landlord to do so (subject to any legitimate disagreement by Tenant with the terms thereof, which both parties shall use reasonable efforts to resolve) shall be a Default by Tenant hereunder. The Rent Commencement Date and specified term expiration of the Lease Term or sooner termination of this Lease shall be stated in said Commencement Certificateis referred to herein as the "Lease Termination". (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Net Lease Agreement (Laserscope)

Commencement Date. (a) Subject to Tenant's performance of its obligations hereunder, including, without limitation, its payment of the sums payable to Landlord under this Article 3, Landlord, on behalf of Tenant, shall cause the Initial Leasehold Improvements to be "substantially completed" (as defined below) in accordance with the Approved Plans and possession of the Premises to be delivered to Tenant on or before the date reasonably established by Landlord and announced to Tenant in writing as provided in Section 3.01(d) above (such date, the "Occupancy Date", currently estimated to be during November 1999), subject, however, to the effect of Section 3.03 hereof. The term of this Lease and the obligations of the parties hereto shall commence on a date (hereinafter referred to as the "Commencement Date") which shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier sooner of (a) the opening for date Tenant commences operation of its business in all or any portion of the Premises; or (b) six (6) months after the date when Landlord delivers that the Building Pad to Tenant provided Landlord has Initial Leasehold Improvements have been "substantially completed all other site work as set forth on Exhibit completed"L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below,. (b) Upon the Rent Commencement DateFor purposes of this Article 3, the Initial Leasehold Improvements shall be deemed substantially completed when the Architect certifies to Landlord and Tenant shall in writing that: (i) be obligated the Initial Leasehold Improvements have been completed in accordance with the Approved Plans, subject only to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent normal punchlist items; and (ii) be required to perform all obligations required to be performed by Landlord, on behalf of Tenant, has obtained a temporary certificate of occupancy from the Tenant under Town of Wilton permitting the terms lawful use and occupancy of the Lease (Premises for the purposes specified in addition this Lease. Landlord shall cause such general contractor or subcontractors to complete any outstanding punchlist items reasonably promptly following the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after Landlord's obligation to deliver the Rent Commencement Premises to Tenant with the Leasehold Improvements substantially completed on or before the Occupancy Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated extended by the number of days of delay resulting from any "Force Majeure Delay," "Tenant Delay" (as such terms are defined in said Commencement CertificateSection 3.03) or Landlord delay, subject to the operation of Section 3.03. (d) It is understood and agreed that at such time as Landlord agrees to provide Tenant or with its employees, agents, contractors or invitees enter estimate of the Premises after projected date for the Execution Commencement Date and approximately thirty (30) days prior to the Rent Commencement Date (but such notice shall not be a condition for establishing the Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred).

Appears in 1 contract

Sources: Lease Agreement (Startech Environmental Corp)

Commencement Date. (a) The term of this Lease shall be and the period specified in Section "1.2" hereof as estate hereby granted (the "Lease Term". The "Rent Commencement Date" of this Lease ”) shall commence on the earlier 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 (ax) the opening for business or date hereof and (by) six (6) months after the date when on which the Plans and Specifications are finalized and approved by Landlord delivers and Tenant in accordance with the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end terms of the six Work Letter (6) month periodas such date shall be extended on a day for day basis for Force Majeure and Tenant Delay, not due to Tenant's faultthe “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 (A) [***] and (B) the date that is [***] after the Anticipated Delivery Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is and (ii) [***] for each day that occurs during the period commencing on the [***] after the Anticipated Delivery Date to but not complete by including the Rent Commencement Date, and any delay in such date shall be Tenant’s sole remedy at law or in equity (Tenant shall commence paying rent and all hereby waiving any right to rescind this Lease and/or to recover any damages on account of such delay other charges subject 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 provisions Anticipated Delivery Date and Landlord shall keep Tenant reasonably apprised of this any anticipated delay in the Substantial Completion of the Base Work. The foregoing is intended to be “an express provision to the contrary” under Section 3.1 223¬a of the New York Real Property Law or any successor statute of similar import. If Tenant occupies all or any portion of the Premises prior to the Commencement Date specified above for the normal operation of its business therein (a) and not for the failure purpose of installing Tenant’s furniture, fixtures or equipment prior to have the building completed Commencement Date, if the same is permitted hereunder), the Commencement Date shall not be an Event treated as having occurred on such date of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below,occupancy. (b) Upon If the Rent Commencement Date, Date does not occur on or before the Tenant shall date that is twelve (12) months following the later to occur of (i) the date hereof and (ii) the date on which the Plans and Specifications are finalized and approved by Landlord and Tenant in accordance with the terms of the Base Work Letter (as such date shall be obligated extended on a day-for-day basis for Force Majeure (but in no event shall such Force Majeure extension exceed ninety (90) days in the aggregate) and Tenant Delay, the “Outside Date”), then Tenant, in Tenant’s sole discretion, shall have the right to commence payment terminate this Lease upon written notice (“Tenant’s Termination Notice”) delivered to Landlord within ten (10) days after the Outside Date, time being of Minimum Rentthe essence. If Tenant does not deliver Tenant’s Termination Notice within the aforesaid ten (10) day period, Additional Rent and all other charges required to be paid by the then Tenant under this Lease, all of which shall be deemed to be additional rent waived such termination right. If Tenant exercises such termination right and Landlord does not deliver the Premises to Tenant within thirty (ii30) be required to perform all obligations required to be performed by days after the Tenant under the terms giving of Tenant’s Termination Notice (time being of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Dateessence and Force Majeure notwithstanding). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of then this Lease shall be stated in said cease and come to an end without further liability or obligation on the part of either party; provided, however, if Landlord shall cause the Commencement Certificate. Date to occur within thirty (d30) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises days after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance receipt of Tenant's Work’s Termination Notice, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent not be so terminated and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant ’s termination right under this Section 3.1(b) shall be responsible for any void and all utility charges incurredof no further force or effect.

Appears in 1 contract

Sources: Lease (Protara Therapeutics, Inc.)

Commencement Date. (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the for ninety-six (96) months ("Lease Term"), unless sooner terminated as hereinafter provided. The "Rent Commencement Date" of this Lease Term shall commence on January 1, 2003 (the earlier "Scheduled Commencement Date"); provided, however, that if either the first or second floors of the Premises are not Substantially Complete (aas hereinafter defined) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Scheduled Commencement Date, and such a delay is due solely to a Landlord Delay (as defined in the Work Letter), or Force Majeure (as defined in Article 52), the Commencement Date of the Lease shall be extended until Landlord's on a day for day basis for each day of such a delay. In the event the Tenant Improvements (as defined in the Work is substantially complete. If Tenant's building is not complete by Letter) on either the Rent first or second floors of the Premises are Substantially Complete prior to the Scheduled Commencement Date, Tenant shall commence paying rent and all other charges have the right to early occupancy of such floor of the Premises, subject to all the provisions terms and conditions of this Section 3.1 Lease, except for Tenant's obligation to pay Rent (a) as defined below). Tenant hereby acknowledges and agrees that the installation of the elevator and the failure demising of the lobby of the Premises shall be completed by Tenant, at Landlord's cost and expense, pursuant to have the building completed terms of the Work Letter; provided, however, that the completion of such work shall not be an Event a condition to the commencement of Default, unless the Tenant's building is not completed by Lease. The first and second floors of the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which Premises shall be deemed to be additional rent and "Substantially Complete" with respect to such floor on the earliest of the date on which: (ii1) be required to perform all obligations required Landlord or Tenant files or causes to be performed by filed with the Tenant under City of Milpitas (the terms "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 substantially complete, (2) Tenant first occupies such floor of the Premises for the operation of Tenant's business, or (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. 1.1.1 The date that the Lease (commences in addition accordance with this Article 1 shall be referred to herein as the obligations required to be performed by the Tenant prior to the Rent "Commencement Date)." 1.1.2 On and after the Commencement Date, 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. As soon as the Commencement Date is determined, Tenant shall execute a Commencement Date Memorandum in the form attached hereto as Exhibit F acknowledging, among other things, the (a) Commencement Date, (b) scheduled termination date of this Lease and (c) As soon as may be convenient after Tenant's acceptance of the Rent Premises. The Tenant's failure to execute the Commencement Date has been determined, Landlord and Tenant agree to join with each other Memorandum shall not affect Tenant's liability hereunder. 1.1.3 Reference in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease to a "Lease Year" shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter mean each successive twelve month period commencing with the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease (Xicor Inc)

Commencement Date. (a) Section 3.1): The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall occur of: (i) be obligated to commence payment the date upon which Substantial Completion (as herein defined) of Minimum Rent, Additional Rent and all other charges required to be paid by the Improvements (as defined in the Tenant under this LeaseWork Letter attached hereto as Exhibit B (the "Tenant Work Letter")) has occurred in the entire Premises, all of which shall be deemed to be additional rent and (ii) August 1, 2012 (which August 1, 2012 will be required to perform all obligations required to be performed 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 under Work Letter), but no such extension will continue beyond the terms date upon which Tenant actually begins to conduct its business in the Premises for the permitted use set forth in Section 1.17 of this Lease. For purposes of determining the Commencement Date, "Substantial Completion" of the Lease 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 (ii) substantial completion of construction of the Improvements in addition the Premises in substantial conformance with the Approved Working Drawings (as defined in Section 3.4 of the Tenant Work Letter) has occurred. Notwithstanding the foregoing or anything to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determinedcontrary contained in this Lease, Landlord and Tenant hereby acknowledge and agree to join with each other that Tenant will at Tenant's sole election construct the Improvements in the execution Premises pursuant to a phased construction schedule and in connection with such phased construction, Tenant shall have the right to commence business from portions of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after (the Execution Date and prior "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 Rent Commencement 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 any purpose whatsoeverthe portion of the Improvements) shall have been issued by the appropriate governmental authorities for the Early Occupancy Space (or portion thereof), including without limitation, the performance of Tenant's Work, and (ii) all of the terms, covenants terms and conditions of this Lease shall apply apply, including Tenant's obligation to pay separately for reserved parking fees pursuant to the parties Parking Addendum attached as Exhibit C to this Lease, during the Early Occupancy Period (if the Lease Term had begun at such time excepting those provisions as to Minimum Rentany), Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if except that Tenant's Work is not completed. Tenant obligation to pay monthly Base Rent shall place in its namebe proportionately reduced to equal an amount equal to the monthly installment of annual rate per rentable square foot (i.e., any utilities which Tenant requires $1.83) times the rentable area (based upon the BOMA Standard) within the Early Occupancy Space (as the same may exist from time to time during the performance of Early Occupancy Period) as mutually and reasonably agreed upon in good faith by Landlord and Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Office Lease (Copart Inc)

Commencement Date. (a) The term of this Lease “Phase 1 Commencement Date” shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier to occur of (ax) the opening for business or date that is nine (b) six (69) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six execution of this Lease, or (6y) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's date the Phase 1 Premises Tenant Work is substantially complete. If Tenant's completed, provided that Tenant shall have access to the Phase 1 Premises when and not before all necessary building is not complete by permits have been issued to begin the Rent Tenant Work for such space.The “Phase 2 UPS Space Commencement Date” shall be the earlier to occur of the date that is two (2) months after the date the Landlord provides Tenant with written notice that the Phase 2 UPS Space is free of all tenancies and other rights of other tenants to take occupancy thereof and is in construction ready condition as required in Section 6(a) of this Lease, or the date the Phase 2 UPS Space Tenant shall commence paying rent and all other charges subject Work is substantially completed.Subject to the provisions of this the fourth sentence of Section 3.1 3(b) below, the “▇▇▇▇▇ ▇ ▇▇▇▇▇▇ ▇▇▇▇▇ Space Commencement Date” shall be the earlier to occur of the date that is four (a4) months after the date the Landlord gives Tenant access to the Phase 2 Fourth Floor Space, or the date the Phase 2 Fourth Floor Space Tenant Work is substantially completed.The “Phase 2 Second Floor Space Commencement Date” shall be the earlier to occur of twelve (12) months from the date Landlord provides Tenant with written notice that the Phase 2 Second Floor Space is free of all tenancies and the failure other rights of other tenants to have the building completed take occupancy thereof provided such notice shall not be an Event of Defaultearlier than July 1, unless the Tenant's building is 2022 (but not completed by later than October 1, 2022) , or the date the Phase 2 Second Floor Space Tenant Work is substantially completed.Notwithstanding anything in this Lease provided to the contrary, no part of the Phase 2 Second Floor Space shall be tendered or delivered to the Tenant before, but not later than, when all necessary permits have been issued to begin Tenant Work for the Phase 2 Second Floor Space. In no event shall the Phase 2 Premises Base Rent, without abatement, except as provided in Section 3.3(a3(c) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all begin later than the earlier of which substantial completion or July 1, 2023.The anticipated availability dates for the Phase 2 Premises for the:Phase 2 UPS Space is July 1, 2022Phase 2 Fourth Floor Space is June 1, 2022Phase 2 Second Floor Space is July 1, 2022.The “Phase 3 Commencement Date“ shall be deemed to be additional rent and one hundred twenty (ii120) be required to perform all obligations required to be performed by days after the date Tenant under the terms [See Section 3(a)] ​ ​ ​ ​ ​ ​ ​ ​ requests that Landlord fund any portion of the Lease (Phase 3 Construction Allowance in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join accordance with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C"Section 45 below. The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Maxcyte, Inc.)

Commencement Date. (a) The term of this Lease Landlord and Tenant shall be use their best ----------------- efforts to complete the period Building and the Initial Tenant Improvements in accordance with Exhibit B hereto on the date specified in Section "1.2" hereof 1(f) or as the "Lease Term"soon thereafter as practicable. The "Rent Commencement 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 commence on July 1, 2000. The determination of the earlier of (a) Commencement Date with respect to the opening for business or (b) six (6) months after Initial Premises shall depend on which contractor is selected to construct the date when Landlord delivers the Building Pad to Initial Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Improvements. If Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete selects Landlord's Work when Tenant has completed such work shell and core contractor ("Landlord's Contractor"), Landlord shall cause the Commencement Date to enable Landlord to complete its workoccur by July 1, 2000. If Landlord's Work Contractor is not substantially complete by the end low bidder for construction of the six (6) month periodInitial Tenant Improvements, not due to Tenant's faultin accordance with the terms of Exhibit B, but Tenant chooses another contractor, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which Date shall be deemed to be additional rent occur on the date that it otherwise would have occurred had Landlord's Contractor been chosen to construct the Initial Tenant Improvements. If Landlord's Contractor is not the low bidder and (iiTenant selects the contractor that is the low bidder, Landlord shall cause the Commencement Date to occur by September 1, 2000. All of the foregoing dates are subject to the delay provisions contained in Section 3(d) be required below. The contractor so selected to perform all obligations required to be performed by construct the Tenant under Improvements shall be hereinafter referred to as the terms of the Lease (in addition "Tenant Improvement Contractor." The Commencement Date with respect to the obligations required Initial Premises shall be deemed to be performed by occur on (A) the later of(I) the completion date specified in the notice ("30 Day Notice") delivered to Tenant at least thirty (30) days prior to the Rent Commencement Datedate that the Initial Premises will be completed for occupancy or (II) the date the entirety of the Initial Premises is in fact delivered to Tenant with all of Landlord's Work and the Initial Tenant Improvements substantially completed, or (B) such earlier date as Landlord would have been able to so deliver the entire Premises to Tenant but for Tenant Delay (defined below). (c) As soon as may be convenient after . Subject to Tenant Delay or other causes beyond Landlord's control, Landlord shall use its best efforts to deliver the Rent Premises to Tenant no later than the completion date specified in the 30 Day Notice. Notwithstanding the foregoing, the Commencement Date has been determinedshall be deemed to have occurred with respect to the Initial Premises on the date Tenant first occupies the Initial Premises for normal business operations, Landlord and if such date is earlier than the dates described above, provided that so long as Tenant agree to join with each other is not in occupancy of the execution of a Initial Premises the Commencement CertificateDate shall not occur earlier than July 1, in the form set forth on Exhibit "C"2000. The Rent Commencement Date and specified term of this Lease shall not be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter deemed to occur until the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and following conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable have been satisfied by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.Landlord:

Appears in 1 contract

Sources: Lease Agreement (Visio Corp)

Commencement Date. the later of (ai) The term full execution of the Initial Mortgagee SNDA (as defined in Section 23.01), (ii) full execution of the Initial Condominium Recognition and Attornment Agreement (as defined in Section 23.01), and (iii) the Substantial Completion Date (as defined in 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 no longer be conditioned upon the full execution of the Initial Mortgagee SNDA and/or the Initial Condominium Recognition and Attornment Agreement, as applicable, pursuant to subclauses (i) and/or (ii) above, as applicable, and Tenant shall be deemed to have waived such requirement for all purposes of this Lease shall be Lease. Promptly following the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease , Landlord shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad deliver to Tenant provided Landlord has a Confirmation of Lease Terms and Dates substantially completed all other site work in the form attached hereto as set forth on Exhibit "L" by C, and Tenant shall have ten (10) business days thereafter to execute and remit the end of such six (6) month periodsame to Landlord; provided, unless Landlord is prevented by Tenant's however, either party’s failure to complete Tenant's Work as set forth on Exhibit "T", so execute and deliver such instrument shall not affect in which event Tenant shall commence paying rent at any manner whatsoever the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end validity of the six (6) month period, not due to Tenant's faultCommencement Date, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject Expiration Date as determined pursuant to the provisions terms of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of DefaultLease, unless the or Landlord’s or Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant ’s obligations under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Office Lease (Schrodinger, Inc.)

Commencement Date. (a) The term of this This Lease shall be effective and in full force upon execution by the period specified in Section "1.2" hereof as parties hereto. The Lease Term begins and the first Rent is due on the "Lease Term". The "Rent Commencement Date" of which shall be the earlier of: (i) one hundred twenty (120) days after written notice to Tenant by Landlord in accordance with this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If complete in accordance with the Handbook (as hereinafter defined) and the Premises are available to Tenant ready for Tenant's building is not complete by Work, or (ii) the Rent Commencement Datedate 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 paying rent 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 all thirty (30) days within which to cure such default and no other charges subject 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 cooperate with Landlord to effect a joint opening of the Shopping Center, and in connection therewith, Landlord shall give notice to Tenant of the "Grand Opening Date" of the Shopping Center on the date upon which the Premises are delivered by Landlord to Tenant and, if such Grand Opening Date shall be a date subsequent to the date set forth in clause (i) of this 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 Section 3.1 subsection, and Tenant shall open for business on such Grand Opening Date designated by Landlord, and such Grand Opening Date in such circumstances shall be the Commencement Date under this Lease (aincluding 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) and days after the failure date upon which the Premises are delivered by Landlord to have Tenant, Tenant shall be permitted to delay commencement of the building completed Tenant's Work, at Tenant's sole option, to the date which is one hundred twenty (120) days prior to the scheduled Grand Opening Date. Landlord shall not be an Event responsible or liable to Tenant or those claiming by, through or under Tenant for loss or damage caused by or resulting from a delayed Commencement Date and opening for business by reason of Default, unless Landlord's efforts to effect a joint opening of the 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 building is not completed by Work within three (3) years after the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease. In the event Landlord fails to so deliver the Premises and this Lease is terminated, all Landlord shall reimburse Tenant for the actual, reasonable costs incurred by Tenant in connection with the preparation of which shall be deemed this Lease and the Premises, not to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, exceed $100,000.00. Landlord and Tenant agree to join with each other execute that certain "Delivery of Possession Date Certificate" and "Opening and Termination Date Declaration" included in the execution Handbook of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement CertificateTenant Information. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease (Harrys Farmers Market Inc)

Commencement Date. (aA) The term of this Lease shall be commence on the period specified later to occur of (x) October 1, 2022 and (y) the date on which Landlord delivers vacant and exclusive possession of the Premises to Tenant with Landlord's Pre-Delivery Work having been Substantially Completed (the later of the dates that are described in Section "1.2" hereof clause (x) and clause (y) above being referred to herein as the "Commencement Date"). Subject to the terms of this Section 1.2, Landlord shall deliver to Tenant vacant and exclusive possession of the Premises on the Commencement Date. If Landlord does not deliver vacant and exclusive possession of the Premises to Tenant on or prior to October 1, 2022 with Landlord's Pre-Delivery Work having been Substantially Completed for any reason whatsoever, then Landlord shall have no liability to Tenant, and, subject to Section 6.2(B) hereof, Tenant shall have no right to terminate or rescind this Lease Termor reduce the Rental, in each case deriving from Landlord's failure to deliver vacant and exclusive possession of the Premises to Tenant on or prior to October 1, 2022. Landlord and Tenant intend that this Section 1.2 constitutes an "express provision to the contrary" for purposes of Section 223-a of the New York Real Property Law. (B) The term "Pre-Delivery Work Substantial Completion Date" shall mean the date that Landlord's Pre-Delivery Work is Substantially Completed. Landlord shall give Tenant not less than ten (10) days' prior notice of the date on which Landlord estimates that the Pre-Delivery Work Substantial Completion Date will occur, with the understanding, however, that (x) Landlord shall not be in default if the Pre-Delivery Work Substantial Completion Date occurs later than the date that Landlord specifies in such notice to Tenant, provided that Landlord gives such notice to Tenant in good faith and (y) the Pre-Delivery Work Substantial Completion Date shall occur as otherwise provided in this Lease notwithstanding that the Pre-Delivery Work Substantial Completion Date occurs earlier or later than the date that Landlord specifies in any such notice, provided that Landlord gives such notice to Tenant in good faith. (1) Tenant shall prepare and deliver plans for the Initial Alterations (the "Work Plans") suitable for bidding to a reputable general contractor or a reputable construction manager that is acceptable to Tenant (the "Work Contractor") in accordance with the terms of Article 7 hereof. The Work Plans shall be subject to Landlord's prior approval as provided in Section 7.3 hereof, and the Work Contractor shall be on the list of contractors designated by Landlord or subject to Landlord's approval, in each case as provided in Section 7.9(B) hereof. Landlord shall enter into a construction contract with the Work Contractor in form reasonably acceptable to Landlord and Tenant for the performance of the Initial Alterations, provided that the Work Contractor agrees to (x) enter into such a contract with Landlord in form reasonably acceptable to Landlord and Tenant and (y) commence and diligently perform the Initial Alterations in a timely manner (herein called an "Rent Acceptable Construction Contract"). If (x) Tenant delivers to Landlord a request for Landlord's approval of a construction contract with the Work Contractor for the performance of the Initial Alterations as aforesaid, together with a copy of such construction contract, and (y) Landlord fails to respond to Tenant's aforesaid request on or prior to the fifteenth (15th) Business Day after the date that Tenant gives such request to Landlord, then Landlord shall be deemed to have approved such request, provided that such construction contract otherwise constitutes an Acceptable Construction Contract. Landlord acknowledges and agrees that the Work Contractor may act as a general contractor and/or a construction manager and the Acceptable Construction Contract may be a construction contract and/or a construction management contract. Tenant acknowledges that the Work Contractor's failure to perform the Initial Alterations in a manner that conforms with the terms of the Acceptable Construction Contract shall not impair the occurrence of the Commencement Date" . Landlord shall bear all of the initial costs and expenses incurred by Landlord and/or billed by the Work Contractor pursuant to the terms and conditions of the Acceptable Construction Contract (herein called the "Work Costs"), including, but not limited to, the cost of labor, materials and filing plans for the Initial Alterations, provided, however, that in no event shall Landlord have any obligation to fund Work Costs in an amount that is greater than Eighteen Million Two Hundred Ninety-Seven Thousand Seven Hundred Seventy and 00/100 Dollars ($18,297,770.00) in the aggregate (such amount, the "Landlord Work Costs Contribution") under the Acceptable Construction Contract. Landlord makes no representation or warranty that the Landlord Work Costs Contribution is sufficient to pay the cost of the Initial Alterations. Tenant shall fund Work Costs due under the Acceptable Construction Contract after Landlord's payment of the Landlord Work Costs Contribution. If Landlord exercises Landlord's rights to consummate a Recapture Termination for Recapture Space that does not constitute the entire Premises in accordance with the terms of Section 17.3 hereof, then the Landlord Work Costs Contribution shall be adjusted to an amount equal to the product obtained by multiplying (x) One Hundred Fifty-Three and 47/100 Dollars ($153.47), by (y) the number of square feet of Rentable Area comprising the Premises initially demised hereunder (i.e., the ninth (9th) floor of the Building and the tenth (10th) floor of the Building) (other than such Recapture Space); provided, however, that (i) in no event shall Tenant have any obligation to make any repayment to Landlord to the extent that the amount of the Landlord Work Costs Contribution that Landlord has theretofore disbursed exceeds the amount of the Landlord Work Costs Contribution, as so redetermined and (ii) Landlord shall pay to the Work Contractor any outstanding amount that is the subject of an invoice that is due and payable to the Work Contractor at the time Landlord delivers a Recapture Sublease Notice or a Recapture Termination Notice to Tenant. (2) Subject to the terms of Article 7 hereof, any material modification in the Work Plans (as approved pursuant to Section 7.3 hereof) requested by Tenant shall be made by means of a written authorization executed by Tenant (herein called a "Change Order"). Each Change Order will specify the scope of the work to be performed and authorization to proceed. Any proposed material modification of the Work Plans shall be submitted by Tenant simultaneously to Landlord and the Work Contractor, which modification shall be subject to Landlord's approval in accordance with Article 7 hereof. Tenant shall prepare and deliver a form of Change Order for such proposed modification to both Landlord and the Work Contractor. Unless a Change Order is authorized as prescribed above, such work shall not be performed. Tenant acknowledges that Tenant's submission of a Change Order shall not impair in any manner the occurrence of the Commencement Date, and in no event shall the incorporation of any Change Orders into the Initial Alterations (or the applicable portion thereof that is within the scope of the Acceptable Construction Contract) require Landlord to fund more than the Landlord Work Costs Contribution. (3) Landlord shall cause the Work Contractor to commence the Initial Alterations with reasonable promptness following the date which is the later to occur of (x) the date on which Landlord has approved the Work Plans pursuant to the terms of this Section 1.2(C) and Article 7 hereof and (y) the Pre-Delivery Work Substantial Completion Date, and shall thereafter cause the Work Contractor to diligently perform the Initial Alterations until the Assignment Date (it being agreed that notwithstanding anything to the contrary stated herein, Landlord's aggregate liability to the Work Contractor under the Acceptable Construction Contract shall not exceed the amount of the Landlord Work Costs Contribution); provided, however, that Landlord shall not have any liability to Tenant under this Lease arising from any delays or deficiencies in the Work Contractor’s performance of the Initial Alterations, except to the extent arising from Landlord's willful misconduct or Landlord's failure to timely pay the Work Contractor the Work Costs that Landlord is required to pay pursuant to this Section 1.2(C). Tenant has advised Landlord that VVA Project Managers ("VVA") will act as project manager for the Initial Alterations. Landlord hereby agrees to reasonably cooperate with VVA and the Work Contractor to coordinate the performance of the Initial Alterations, and Landlord shall commence defer to VVA's instructions on matters relating to the Initial Alterations, except to the extent such instructions conflict with the rights or obligations of Landlord or Tenant under this Lease or under the Work Contract or applicable Requirements. (4) Landlord and Tenant acknowledge that the portion of the Initial Alterations paid for by Landlord pursuant to this Section 1.2(C) shall constitute the property of Landlord, subject, nevertheless, to Tenant's rights to use such portion of the Initial Alterations as part of the Premises during the Term in accordance with the terms of this Lease. Tenant, during the Term, shall not remove such portion of the Initial Alterations that were paid for by Landlord pursuant to this Section 1.2(C) (or Alterations that replace such portion of the Initial Alterations) unless Tenant replaces such portion of the Initial Alterations, or such other Alterations, as the case may be, with Alterations that have a fair value that is equal to or greater than such portion of the Initial Alterations that were paid for by Landlord pursuant to this Section 1.2(C) (it being understood that such Alterations that Tenant performs to replace such portion of the Initial Alterations, or such other Alterations, as the case may be, shall constitute the property of Landlord as contemplated by this Section 1.2(C)(4)). Nothing contained in this Section 1.2(C)(4) limits Landlord's right to require Tenant to remove Specialty Alterations as provided in Section 7.8 hereof. (5) Effective as of the date (the "Assignment Date") which is the earlier to occur of (x) the date which is the later of (a) the opening for business or date on which Landlord has paid to the Work Contractor an aggregate amount equal to the Landlord Work Costs Contribution and (b) six the Commencement Date or (6y) months after the date when date, if any, that Tenant requests that Landlord delivers assign the Building Pad Acceptable Construction Contract to Tenant, Landlord hereby assigns the Acceptable Construction Contract to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event and Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform hereby assumes all obligations required to be performed by of Landlord thereunder (the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease (Clear Secure, Inc.)

Commencement Date. (a) The term of this Lease "Commencement Date" shall be the period specified date upon which Landlord's Work (as defined in EXHIBIT C) is Substantially Complete (as defined in EXHIBIT C), provided, however, that if as part of Landlord's Work, Landlord has not on or before March 15, 2000 (subject to Tenant Delays) laid down a sufficient amount of carpeting, in Landlord's reasonable judgment, to enable Tenant to commence Tenant's Work (as defined in EXHIBIT C) and to prosecute such work continuously to completion on or before April 1, 2000 (the "Delivery Date"), the Commencement Date shall be no earlier than May 1, 2000. Occupancy of the Premises by Tenant prior to the Commencement Date shall be at Tenant's sole risk and deemed pursuant to, and subject to, all of the terms and provisions of this Lease, including the 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 date it receives notice from Landlord that Landlord's Work is Substantially Complete. Subject to Force Majeure and Tenant Delays, Landlord 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 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 "1.2" hereof as 1.5 below) hereunder shall abat▇ ▇▇ one (1) day for each day that the "Lease Term"Commencement Date follows the Delivery Date. The "Rent Commencement Date" of this Lease Notwithstanding the foregoing, in the event Substantial Completion shall commence not have occurred on the earlier of (a) the opening for business or (b) prior to that day which is six (6) months after the date when Landlord delivers the Building Pad execution hereof, subject to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" an additional period of up to three (3) months if Substantial Completion is delayed by the end occurrence of such six one or more events of Force Majeure (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit the "TOutside Delivery Date", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date), Tenant shall commence paying rent and all other charges subject be permitted to terminate this Lease by written notice given to Landlord within ten (10) days after the provisions of this Section 3.1 (a) and the failure to have the building completed shall Outside Delivery Date. If such notice is not be an Event of Defaultso given, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated right to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under so terminate this Lease, all of which Lease shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)have been waived. (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (MCK Communications Inc)

Commencement Date. The “Commencement Date” shall 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 (a) The term of this Lease 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 specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence beginning on the earlier of (a) day following the opening for business or (b) six (6) months after Estimated Interim Turnover Date and ending on the date when that Landlord delivers possession of the Building Pad Leased Premises to Tenant provided Landlord has substantially completed all 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 site work as set forth on Exhibit "L" by the end of such six (6) month periodabatement, unless Landlord is prevented by Tenant's failure free rent periods or other rental concessions to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for businessbe entitled under the Lease (as amended hereby). Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by acknowledges that, following the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, Landlord will still be performing work within the Leased Premises during normal business hours to achieve Substantial Completion, and that such work shall not constitute a constructive eviction or otherwise be in violation of the Lease. Landlord shall 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 until 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 ’s Work is substantially completeand the Tenant Improvements on or prior to the Estimated Final 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 Final Turnover Date and ending on the date that the Landlord’s Work and the Tenant Improvements are Substantially Completed, 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). If Tenant's building is not complete by Notwithstanding the Rent Commencement Dateforegoing, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed 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 not be an Event deemed Tenant’s possession of Defaultthe Leased Premises, unless or otherwise affect the occurrence of the Commencement Date. In any such event, the Tenant's building is not completed ’s workmen and contractors shall take reasonable steps to minimize interference with any work being simultaneously performed by the date provided Landlord’s workmen or contractors in Section 3.3(a) below, (b) Upon the Rent Commencement DateLeased Premises. In the event of any unreasonable interference prior to Substantial Completion, Landlord shall have the right to provide written notice to Tenant of such interference, and Tenant shall (i) be obligated cause its workmen and contractors to commence payment 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 Minimum Rent, Additional Rent and all other charges required to be paid the Leased Premises by the Tenant under this Lease, all or any person or entity working for or on behalf of which Tenant shall be deemed to be additional rent and (ii) be required subject to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants covenants, conditions and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Lease, including, without limitation, providing certificate(s) of insurance required under this Lease, excluding only the covenant to pay Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred(defined herein).

Appears in 1 contract

Sources: Lease Agreement (NeuBase Therapeutics, Inc.)

Commencement Date. (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on will be the earlier to occur of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment the date Tenant takes occupancy of Minimum Rentthe Phase 1 Premises for the purposes of conducting its business, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by five (5) days after Landlord has Substantially Completed (as hereinafter defined) the Tenant under Finish Work for the terms Phase 1 Premises. Landlord shall use all reasonable and good faith efforts to have the Tenant Finish Work with respect to the 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 Phase 1 Premises is not Substantially Completed on or before September 1, 2008, Tenant shall be entitled to a one day abatement of Basic Rent with respect to the Lease (Phase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to October 31, 2008. Subject to a Tenant Delay or 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 addition to the obligations required abatement in Basic Rent provided in the immediately preceding sentence, Tenant shall be entitled to be performed by the Tenant prior a two (2) day abatement of Basic Rent with respect to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determinedPhase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, Landlord and 2008. Subject to a Tenant agree to join with each other in the execution of a Commencement CertificateDelay or an Excusable Delay, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even 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 completedSubstantially 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 shall place in its nameFinish Work with respect to the Phase 2 Premises Substantially Completed on or before September 1, any utilities which 2009. Subject to a Tenant requires during Delay or an Excusable Delay, if Tenant Finish Work with respect to the performance of Tenant's WorkPhase 2 Premises is not Substantially Completed on or before September 1, and 2009, Tenant shall be responsible entitled to a one day abatement of Basic Rent with respect to the Phase 2 Premises for any 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, 2010, 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 utility charges incurredreasonable 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

Sources: Lease Agreement (Medicines Co /De)

Commencement Date. (The Commencement Date of the Lease will be the 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) The the day immediately after expiration of the Early Occupancy Period (as said term is defined in Section 5 of Exhibit “A”), b) the date Tenant commences full scale business operations within the 503B Space, having received all of the Approvals; and, c) the date Tenant advises Landlord, in writing, of its waiver of the right to terminate the portion of this Lease shall be applicable to the period specified 503B Space, as said right of termination is set forth in Section "1.2" hereof as the "Lease Term"6 of Exhibit “A”. The "Rent “Pharmacy Commencement Date" of this Lease shall commence on ” will be deemed to have occurred upon the earlier of (of: a) two hundred twenty-five (225) days after the opening for business or (Delivery Date of the NCO Space; and, b) six (6) months after the date when Tenant commences full scale business operations within the Pharmacy Space. Landlord delivers acknowledges that Tenant will not be deemed to have commenced full scale business operations within the Building Pad Pharmacy Space as a result of the use thereof by up to fifty-five (55) employees of Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" 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 the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent said employees at the end rate of such six (6) month period notwithstanding that $15.75/RSF/year. Upon determination, Tenant may not have completed Tenant's Work or opened for business. Landlord will complete shall, upon Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by ’s request, execute and deliver a written statement specifying the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent Expiration Date and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms pertinent dates of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon Term as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on that is attached hereto as Exhibit "C". The Rent Commencement Date “G” and specified term of is by this Lease shall be stated in said Commencement Certificatereference incorporated herein. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (HS Spinco, Inc.)

Commencement Date. (a) The term of this Lease Term shall be for the period of time specified in Section "1.2" hereof the Basic Lease Information unless sooner terminated as the "Lease Term"hereinafter provided. The "Rent Commencement Date" of this Lease Term shall commence on the earlier 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 the date that the Premises will be substantially complete, to delay the commencement of the Term for a period not to exceed thirty (a30) the opening for business or (b) six (6) months days after the date when Landlord delivers that the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not Premises are substantially complete by (as such date of substantial completion may be adjusted for Tenant Delays as provided in the end Work Letter). The date of the six (6) month periodsubstantial completion or, not due to Tenant's faultif Tenant delivers a Commencement Date Delay Notice, the Rent Commencement Datesuch delayed date, shall be extended until Landlord's Work is substantially completethe “Commencement Date”. If Tenant's building is the Premises are not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not substantially completed by September 1, 2008 (the date provided “Outside Date”), Landlord shall use commercially reasonable efforts to make other space in Section 3.3(a) below, (b) Upon the Rent Commencement DateBuilding or in other buildings owned by Landlord in the vicinity of the Building, available for Tenant’s use on a temporary basis pending substantial completion of the Tenant shall (i) Premises, at the same base rental rate per rentable square foot as would be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid payable by the Tenant under this Lease, all of which . The Outside Date shall be deemed to be additional rent and extended by one (ii1) be required to perform all obligations required to be performed by day for each day of Tenant Delay or Force Majeure delay (as defined in Section 22.15 below). For purposes of this Lease, the Tenant under first “Lease Year” shall mean the terms of period commencing on the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term ending twelve (12) months thereafter, except that if the Commencement Date is other than the first day of this a calendar month, the first “Lease Year” shall be stated in said mean the period commencing on the Commencement Certificate. Date and ending on the last day of the twelfth (d12th) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises full calendar month after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation. Thereafter, the performance of Tenant's Work, all of the terms, covenants and conditions of this term “Lease Year” shall apply mean a period equal to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredtwelve (12) full calendar months.

Appears in 1 contract

Sources: Full Service Lease (Enphase Energy, Inc.)

Commencement Date. (a) The term of this Lease As herein used, the phrase "commencement date" shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on mean the earlier of of: (ai) the opening day Tenant opens for business in the demised premises, or (ii) ninety (90) 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) six below. Landlord agrees to deliver the demised premises to Tenant with Landlord's work completed between November 15, 2003 and December 15, 2003 (6the "Delivery Period"). Landlord shall give Tenant notice no later than October 15, 2003 (the "Final Delivery Notice") months of a firm delivery date (the "Final Delivery Date") upon which date the Landlord's Work shall be substantially completed and the Leased Premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. The Final Delivery Date shall not be earlier than (i) thirty (30) days after the date when Tenant receives the Final Delivery Notice, or (ii) the first day of the Delivery Period. If Landlord delivers does not deliver the Building Pad demised premises to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" required herein by the end of such six (6) month periodDecember 15, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T"2003, in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may defer delivery until February 1, 2004. If Landlord does not have completed Tenant's Work deliver the demised premises to Tenant thereafter on or opened for businessbefore April 15, 2004, Tenant may terminate this Lease or defer delivery until June 1, 2004. Landlord will complete In the event that the demised premises and Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is are not substantially complete by completed and delivered to Tenant on or before the end of the six (6) month period, not due to Tenant's faultFinal Delivery Date, the Rent Commencement Date, minimum rent due hereunder shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Dateadjusted so that, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (i1) 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, including substantial completion of the Landlord's Work. Tenant shall not be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms accept possession of the Lease (in addition to the obligations required to be performed by the Tenant demised premises prior to the Rent Commencement Date). later of (a) substantial completion of Landlord's Work, (b) the first day of the Delivery Period and (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in Final Delivery Date. Time is of the execution of a Commencement Certificate, in the form essence regarding all dates set forth on Exhibit "C"in this Section 3(a). The Rent Commencement Date and specified term Landlord shall obtain a certificate of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time occupancy for the demised premises as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance part of TenantLandlord's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease (Retail Ventures Inc)

Commencement Date. The Term (adefined below) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "and Tenant’s obligation to pay Rent Commencement Date" of this Lease shall commence on the earlier of date that is the day Tenant takes actual possession, which date will be no more than ten (a10) the opening for business or (b) six (6) months days after the date when on which the Tenant Improvement Work (as defined in the Work Letter) has been Substantially Completed (as defined below) (the “Commencement Date. Landlord delivers shall cause the Building Pad Tenant Improvement Work to be completed pursuant to the work letter attached hereto as Exhibit C (the “Work Letter”), and shall use best efforts to cause the completion of the Final Plans and the Tenant provided Landlord has substantially completed Improvement Work to be done in a timely manner, as contemplated in the Work Letter, including, without limitation, Substantial Completion of the Tenant Improvement Work within eight weeks of the 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 all other site work as set forth on Exhibit "L" by the end of such six (6) month periodbut complete, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding except that Tenant final permits may not have completed Tenant's Work or opened for businessbeen signed by the city, whereby Tenant may take possession and use the Premises as contemplated herein. Landlord will complete Landlord's Work when If, at any time after the Parties agree that the Tenant has completed such work to enable Landlord to complete its work. If Landlord's Improvement Work is not substantially complete Substantially Complete and the date that the final permits are signed by the end city, Tenant’s use of the six (6) month periodPremises is encumbered in any manner that prevents Tenant from the normal operation of its business within the Premises as contemplated herein as a result of any work performed by Landlord, not due to Tenant's faultits agents, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Dateemployees or contractors, Tenant shall commence paying rent and all other charges subject be entitled to an equitable abatement of Rent during such period until such time when the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Premises are suitable for Tenant's building is not completed by unimpeded use. During the date provided in Section 3.3(afirst twelve (12) below, (b) Upon months of the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment Term of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all Landlord shall, at Landlord's sole cost and expense, repair any defects in the construction of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)Improvement Work. (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (PDF Solutions Inc)

Commencement Date. This Lease, and the obligation to pay Minimum Annual Rent and additional Rent hereunder (asubject to any rent-free period as provided under Section 4(c) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease above), shall commence on the date (the “Commencement Date”) that is the earlier to occur of: (i) The Monday following Tenant’s occupancy of substantially all of the Premises for the purpose of conducting Tenant’s business in and from the Premises (Tenant plans to move into and occupy the Building in phases over several weeks and the fact that Tenant occupies and opens for business in a part, but less than substantially all, of the Premises shall not in itself trigger Lease Commencement); (ii) If Tenant uses a contractor other than Landlord’s Base Building general contractor for the construction of the Initial Tenant Improvements, the later of (a1) 120 days after the opening for business Tenant Access Date, or (b2) six (6) months 60 days after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end substantial completion of the six (6) month periodBase Building and Site Improvements, not due to Tenant's fault, it being the Rent Commencement Date, shall be extended until intent of the parties that if Tenant uses a contractor other than Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date’s general contractor, Tenant shall commence paying rent have nonexclusive and all other charges unrestricted (subject to the provisions of this Section 3.1 5(a) above) access to the Premises for the 60-day period from 120 days to 60 days prior to the Commencement Date and exclusive access to the Premises (aother than access on the part of Landlord or its Agents to complete punchlist items, conduct inspections, or complete any items of unfinished work provided such access does not interfere with or delay Tenant’s work) and for the failure to have 60-days preceding the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below,Commencement Date. (biii) Upon If Tenant uses Landlord’s general contractor for the Rent Commencement Dateconstruction of the Initial Tenant Improvements, the Tenant shall later of (i) be obligated the first Monday following the date that is 60 days after the date of substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant’s equipment, furniture and personal property; this work is contemplated to commence payment occur during the 60-day period following the substantial completion of Minimum Rentthe Initial Tenant Improvements), Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and or (ii) be required the date of substantial completion by Landlord of the Base Building and Site Improvements. Tenant shall use all reasonable diligence to perform all obligations required cause substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant’s equipment, furniture and personal property; this work is contemplated to be performed by occur during the 60-day period following the substantial completion of the Initial Tenant Improvements) to occur within 60 days of the Tenant under Access Date. Without limiting the terms foregoing, If Tenant uses Landlord’s general contractor for the construction of the Lease (Initial Tenant Improvements, Tenant shall contract with Landlord’s general contractor, and provide Landlord’s general contractor with construction plans and specifications, material selections and other appropriate information sufficiently in addition to the obligations required to be performed by advance of the Tenant prior to Access Date so that such general contractor can commence construction of the Rent Commencement Date). (c) As soon Initial Tenant Improvements as may be convenient after of the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Access Date and specified term proceed with construction without delay resulting from failure of this Lease Tenant to timely approve plans or select materials. Tenant’s construction contract shall be stated in said Commencement Certificate. (d) It is understood and agreed that at obligate such time as general contractor to substantially complete the Initial Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all Improvements within 60 days of the terms, covenants and conditions Tenant Access Date. If construction of this Lease shall apply to the parties Initial Tenant Improvements is delayed as if the Lease Term had begun at a result of any such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable delay caused by Tenant, which the Commencement Date shall go into effect as be the date this Lease would have commenced but for such delay. The 60-day period for completion of the Rent Commencement Date, even if Tenant's Work is not completed. Initial Tenant shall place Improvements contemplated in its name, any utilities which Tenant requires during the performance of Tenant's Work, subsections (ii) and Tenant (iii) above shall be responsible extended for any and all utility charges incurreddelay resulting from Force Majeure events, applying to Tenant the same definition of “Force Majeure” applicable to Landlord under Section 4(c) above.

Appears in 1 contract

Sources: Lease Agreement (Kroll Inc)

Commencement Date. (a) The term Commencement Date of this Lease is the date set forth in the Schedule; provided, however, that if the Substantial Completion Date (as defined in the Tenant Improvement Agreement attached hereto as Exhibit C) does not occur on or before July 1, 2005 for any reason, then (a) this Lease shall not be void or voidable by either party, (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and (c) the Commencement Date shall be revised to mean the Substantial Completion Date. If and only if the Commencement Date is adjusted pursuant to the foregoing, then Landlord shall prepare and deliver to Tenant a Commencement Date Confirmation substantially in the form attached hereto as Exhibit D that sets forth both the Commencement Date and Termination Date for this Lease. Tenant shall execute the Commencement Date Confirmation and deliver the executed original of the same to Landlord within three (3) days after Tenant’s receipt thereof. Tenant’s failure to timely execute and return the Commencement Date Confirmation document to Landlord shall be conclusive evidence of Tenant’s agreement with the information as set forth therein. This Lease shall be a binding contractual obligation effective upon execution and delivery hereof by Landlord and Tenant, notwithstanding the later commencement of the Lease Term. (b) Notwithstanding the provisions of Section 1.1(a) above, if the Premises Delivery Date does not occur on or before July 31, 2005 (the “Premises Delivery Deadline”), Tenant, as its sole remedy, shall have the right to cancel this Lease by giving written notice of such cancellation to Landlord at any time after the Premises Delivery Deadline and prior to the Premises Delivery Date, in which case this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" cancelled effective five (5) business days after Landlord’s receipt of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month periodTenant’s cancellation notice, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T"the Premises Delivery Date occurs within said five (5) business day period; provided, in which event Tenant shall commence paying rent at however, that the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, Premises Delivery Deadline shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Datenumber of days that the Premises Delivery Date is delayed due to any Force Majeure Delay (as defined below) or any delay in receiving any required permits to construct the Tenant Improvements or any Tenant Delay (as defined in Section 3.3 of the Tenant Improvement Agreement). In the event of such cancellation by Tenant, Tenant neither party shall commence paying rent and all other charges subject have any obligations to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all except for obligations that survive the expiration or earlier termination of which this Lease, and Landlord shall be deemed promptly return to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease Deposit. For purposes of this Lease, the term “Force Majeure Delay” means any delay attributable to Force Majeure (as defined in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement DateSection 12.3 below). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease (Nextg Networks Inc)

Commencement Date. (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). .  (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Embassy Bancorp, Inc.)

Commencement Date. (a) The term of this Lease As herein used, the phrase "commencement date" shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on mean the earlier of of: (ai) the opening 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) six (6) months after below. Landlord agrees to deliver the date when Landlord delivers the Building Pad demised premises to Tenant provided Landlord has substantially completed all other site work with Landlord's Work (as set forth on Exhibit "L" 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 end 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 such six (6) month periodthe Delivery Period. If Landlord does not deliver the demised premises to Tenant as required herein by October 15, unless 2006, Tenant may defer delivery until January 2, 2007. If Landlord is prevented by Tenant's 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 complete Tenant's Work as set forth deliver the demised premises to Tenant on Exhibit "T"or before July 1, in 2007 is due to an event of force majeure which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that occurs on or after May 1, 2007, Tenant may not have completed Tenant's Work or opened exercise its right to terminate the Lease pursuant to this Section 3(a) for businessan additional ninety (90) day period. Landlord will complete In the event that the demised premises and Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is are not substantially complete by completed and delivered to Tenant on or before the end of the six (6) month period, not due to Tenant's faultFinal Delivery Date, the Rent Commencement Date, minimum rent due hereunder shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Dateadjusted so that, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (i1) 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, 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) substantial completion of Landlord's Work, (b) the first day of the Delivery Period and (c) the Final Delivery Date. Time is of the essence regarding all dates set forth in this Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work at the demised premises so that Tenant may obtain a building permit for Tenant’s Work and commence payment performance of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all same. (b) Possession of which the demised premises shall not be deemed to be additional rent have been given to Tenant unless the demised premises are ready for the installation of Tenant's fixtures and (ii) be required to perform all obligations required to be performed finishing work by the Tenant under the terms Tenant, and are free of the Lease (in addition any violation of laws, ordinances, regulations and building restrictions relating to the obligations possession or use of or construction upon the demised premises, and until Landlord has substantially completed Landlord's Work. Tenant shall supply Landlord with Tenant's prototypical plans and specifications, and Landlord shall prepare plans and specifications for the Premises at Landlord's expense, for Tenant's approval. All such Landlord's Work shall be done at Landlord's expense and in compliance with all applicable federal, state and local laws, rules, regulations and code requirements. Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required to be performed by for Landlord’s Work at the Tenant prior to the Rent Commencement Date)demised premises as part of Landlord's Work. (c) As soon Prior to the date on which possession is delivered to Tenant as may aforesaid, Tenant shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and receiving merchandise and other property, provided that it does not unreasonably interfere with Landlord's construction activities. All work other than that to be convenient performed by Landlord is to be done by Tenant within ninety (90) days after the Rent Commencement Date date possession of the demised premises has been determineddelivered to Tenant, Landlord at Tenant's expense in accordance with the provisions of this Lease and Tenant agree to join with each other as set forth in the execution schedule entitled Description of a Commencement Certificate, in the form set forth on Tenant's Work and attached hereto as Exhibit "C"" and made a part hereof. The Rent Commencement Date and specified term of this Lease All Tenant's Work shall be stated performed lien free by Tenant, in a good and workmanlike manner (employing materials of good quality) in compliance with all governmental requirements. In the event a mechanic's lien is filed against the demised premises or the Shopping Center on account of Tenant's Work, Tenant shall discharge or bond off same within ten (10) days from the filing thereof. If Tenant fails to discharge said Commencement Certificatelien, Landlord may bond off or pay same without inquiring into the validity or merits of such lien, and all sums so advanced shall be paid on demand by Tenant as additional rent. (d) It is understood From the date upon which the demised premises are delivered to Tenant for its work until the commencement date of the lease term, Tenant shall observe and agreed that at such time as perform all of its obligations under this Lease (except Tenant's obligation to operate and pay minimum rent, percentage rent and "Tenant's Proportionate Share" (defined in Section 16(c) below) of "Maintenance Costs" (defined and provided for in Section 16(b) hereof) "real estate taxes" (defined and provided for in Section 28(b) hereof) and insurance (provided for in Section 28 hereof). In the event Tenant or its employees, agents, contractors or invitees enter the Premises fails to open for business within one hundred twenty (120) days after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all date possession of the terms, covenants and conditions of this Lease shall apply demised premises has been delivered to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement DateLandlord, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for addition to any and all utility other available remedies, may require Tenant to pay to Landlord, in addition to all other rent and charges incurredherein, as liquidated damages and not as a penalty, an amount equal to one-three hundred sixty five thousandths (1/365) of the annual minimum rent for each day such failure to open continues.

Appears in 1 contract

Sources: Lease (DSW Inc.)

Commencement Date. This Lease Agreement shall be for an initial term of ten (a10) years (the “Initial Term”) commencing on the “Commencement Date” (as hereinafter defined). The term “Commencement Date” shall mean the earlier of the date of (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 commencement of business operations by Tenant or (iii) 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 shall 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 take to receive such items within ten (10) business days after Landlord’s initial receipt of plans or specifications including such item, and then only to the extent that such delay could not be the period specified in Section "1.2" hereof as the "Lease Term"avoided or reduced by Landlord’s timely ordering of such item, allowing for such long lead time.) (collectively “Tenant Delay”). The "Rent Commencement Date" of this Lease shall commence on the earlier of If Landlord desires to allege that Tenant Delay has occurred, no later than ten (a10) the opening for business or (b) six (6) months days after the occurrence of a Tenant Delay, Landlord shall deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to subparagraph (iii) hereof, to the extent any other Force Majeure Event coincides with an event of Tenant Delay, the date when Landlord delivers that Substantial Completion would have occurred but for such other Force Majeure Event will be extended “day for day” to the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end extent of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)Force Majeure Event. (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Digital Lightwave Inc)

Commencement Date. (a) The term of this Lease (“Lease Term”) shall be for the period specified in Section "1.2" hereof as Paragraph 1.5 above, commencing on the "Lease Term". The "Rent date set forth in Paragraph 1.6 (“Commencement Date" of this Lease shall commence on ”); provided, however, in the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad event any improvements to Tenant provided Landlord has substantially completed all other site work be constructed by Landlord, as set forth on Exhibit "L" C, are not substantially completed by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent aforesaid Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by then the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which Date shall be deemed to be additional rent and the date on which the improvements to be constructed by Landlord are substantially completed. Such improvements shall be deemed to be substantially completed upon the occurrence of the earlier of the following: (a) The date on which all improvements to be constructed by Landlord have been substantially completed except for punch list items which do not, either individually or in the aggregate, adversely affect Tenant’s use of the Premises for its intended use; or (b) The date, on or after the date set forth in Paragraph 1.6 hereof, on which all improvements to be constructed by Landlord would have been substantially completed except for such work as Landlord is required to perform but which is delayed, notwithstanding Landlord’s reasonable efforts to avoid or reduce the same, because of any of the following (each, a “Tenant Delay”): (i) fault or neglect of Tenant, acts of Tenant or Tenant’s agents (including without limitation delays caused by work done on or in the Premises by Tenant or Tenant’s agents or by acts of Tenant’s contractors or subcontractors); (ii) be delays caused by change orders requested by Tenant or required because of any errors or omissions in plans submitted by Tenant; (iii) such work as Landlord is required to perform all obligations but cannot complete until Tenant performs necessary portions of construction work it has elected or is required to be performed by the Tenant under the terms do; and (iv) any of the Lease (other events defined as a Tenant Delay in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date).Exhibit C attached hereto; or (c) As soon as may The date Tenant opens for business in the Premises. If the improvements to be convenient after constructed by Landlord are deemed to be substantially completed pursuant to Paragraph 3.1(b) above, Tenant acknowledges that the Rent Commencement Date shall occur (but in no event earlier than the date set forth in Paragraph 1.6 above), and therefore Tenant’s obligation to pay Rentals shall commence, earlier than the date of actual completion of such improvements (but in no event earlier than the date set forth in Paragraph 1.6 above). The improvements to be constructed by Landlord shall be deemed to be substantially completed one day earlier than the date of actual completion for each day that actual completion is delayed by reason of a Tenant Delay; provided, however, in no event shall the Commencement Date be earlier than December 1, 2006. In the event that by November 15, 2006 the Landlord has been determinednot permitted Tenant reasonable access to the Premises for the installation of Tenant’s fixtures, flooring, furniture, furnishings, telephone and cabling, then the earliest date on which the Commencement Date may occur shall be January 15, 2007. When the Commencement Date becomes ascertainable, Landlord and Tenant agree to join with each other shall specify the same in the execution of a Commencement Certificatewriting, in the form of the attached Exhibit D, which writing shall be deemed incorporated herein. Tenant’s failure to execute and deliver the letter attached hereto as Exhibit D within thirty (30) days after Tenant receives written request from Landlord to do so (subject to any legitimate disagreement by Tenant with the terms thereof, which both parties shall use reasonable efforts to resolve) shall be deemed to be Tenant’s agreement to the date set forth on Exhibit "C"therein as the Commencement Date. The Rent Commencement Date and specified term expiration of the Lease Term or sooner termination of this Lease shall be stated in said Commencement Certificateis referred to herein as the “Lease Termination. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Net Lease Agreement (Rackable Systems, Inc.)

Commencement Date. (a) The term of this Lease “Phase 1 Commencement Date” shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier to occur of (ax) the opening for business or date that is nine (b) six (69) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six execution of this Lease, or (6y) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's date the Phase 1 Premises Tenant Work is substantially complete. If Tenant's completed, provided that Tenant shall have access to the Phase 1 Premises when and not before all necessary building is not complete by permits have been issued to begin the Rent Tenant Work for such space.The “Phase 2 UPS Space Commencement Date” shall be the earlier to occur of the date that is two (2) months after the date the Landlord provides Tenant with written notice that the Phase 2 UPS Space is free of all tenancies and other rights of other tenants to take occupancy thereof and is in construction ready condition as required in Section 6(a) of this Lease, or the date the Phase 2 UPS Space Tenant shall commence paying rent and all other charges subject Work is substantially completed.Subject to the provisions of this the fourth sentence of Section 3.1 3(b) below, the “Phase 2 Fourth Floor Space Commencement Date” shall be the earlier to occur of the date that is four (a4) months after the date the Landlord gives Tenant access to the Phase 2 Fourth Floor Space, or the date the Phase 2 Fourth Floor Space Tenant Work is substantially completed.The “Phase 2 Second Floor Space Commencement Date” shall be the earlier to occur of twelve (12) months from the date Landlord provides Tenant with written notice that the Phase 2 Second Floor Space is free of all tenancies and the failure other rights of other tenants to have the building completed take occupancy thereof provided such notice shall not be an Event of Defaultearlier than July 1, unless the Tenant's building is 2022 (but not completed by later than October 1, 2022) , or the date the Phase 2 Second Floor Space Tenant Work is substantially completed.Notwithstanding anything in this Lease provided to the contrary, no part of the Phase 2 Second Floor Space shall be tendered or delivered to the Tenant before, but not later than, when all necessary permits have been issued to begin Tenant Work for the Phase 2 Second Floor Space. In no event shall the Phase 2 Premises Base Rent, without abatement, except as provided in Section 3.3(a3(c) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all begin later than the earlier of which substantial completion or July 1, 2023.The anticipated availability dates for the Phase 2 Premises for the:Phase 2 UPS Space is July 1, 2022Phase 2 Fourth Floor Space is June 1, 2022Phase 2 Second Floor Space is July 1, 2022.The “Phase 3 Commencement Date“ shall be deemed to be additional rent and one hundred twenty (ii120) be required to perform all obligations required to be performed by days after the date Tenant under the terms [See Section 3(a)] ​ ​ ​ ​ ​ ​ ​ ​ requests that Landlord fund any portion of the Lease (Phase 3 Construction Allowance in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join accordance with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C"Section 45 below. The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Maxcyte, Inc.)

Commencement Date. (a) The term of this Lease shall be and the period specified in Section "1.2" hereof as estate hereby granted (the "Lease Term". The "Rent Commencement Date" of this Lease ”) shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) August 1, 2007 for the 20th Floor Premises and the 21st Floor Premises (the “20th and 21st Floor Commencement Date”), and (ii) September 1, 2007 for the 19th Floor Premises (the “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 applicable Premises to Tenant on the applicable Commencement Date (each an “Original Delivery Date”). If Landlord fails to deliver possession of the applicable Premises on the applicable Commencement Date for any reason beyond Landlord’s reasonable control, Landlord shall use reasonable efforts to deliver possession of the applicable Premises to Tenant as soon thereafter as shall be obligated to commence payment of Minimum Rent, Additional Rent reasonably possible and all other charges required to be paid by the Tenant under this Lease, all of which such Commencement Date shall be deemed to be additional rent the 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 postponement of the applicable Commencement Date 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 for such delay, except as otherwise set forth in Section 3.1(b) through (f) below), but in no event shall the 20th and (ii) 21st Floor Commencement Date be required to perform all obligations required later than the 19th Floor Commencement Date. The foregoing is intended to be performed “an express provision to the contrary” under Section 223-a of the New York Real Property Law or any successor statute of similar import. (b) If the 19th Floor Commencement Date shall occur more than thirty (30) days after the 20th and 21st Floor Commencement Date (the “Outside Date”), which Outside Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the Tenant under then existing tenant therein), the terms 20th Floor Rent Concession Period (hereinafter defined) and the 21st Floor Rent Concession Period (hereinafter defined) shall be increased by one (1) day for each day beyond the Outside Date that Landlord fails to deliver possession of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)19th Floor Premises. (c) As soon as may be convenient If a Commencement Date shall occur more than thirty (30) but within sixty (60) days (the “First Penalty Period”) after the Rent Commencement applicable Original Delivery Date, which Original Delivery Date has been determined, Landlord and Tenant agree to join with each other in the execution shall be extended by reason of Force Majeure (but not by reason of a Commencement Certificateholdover by the then existing tenant therein), in the form set forth on Exhibit "C". The Rent Commencement Date and specified term Concession Period applicable to such portion of this Lease the Premises shall be stated in said Commencement Certificateincreased by one-half (1/2) day for each day during the First Penalty Period that Landlord fails to deliver possession of such portion of the Premises. (d) It is understood and agreed that at If a Commencement Date shall occur more than sixty (60) but within ninety (90) days (the “Second Penalty Period”) after the applicable Original Delivery Date, which Original Delivery Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to such time as Tenant or its employees, agents, contractors or invitees enter portion of the Premises shall be increased by one (1) day for each day during the Second Penalty Period that Landlord fails to deliver possession of such portion of the Premises. (e) If a Commencement Date shall occur more than ninety (90) but within one hundred twenty (120) days (the “Third Penalty Period”) after the Execution applicable Original Delivery Date, which Original Delivery Date and prior to shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to such portion of the Premises shall be increased by one and one-half (1 1/2) days for each day during the Third Penalty Period that Landlord fails to deliver possession of such portion of the Premises. (f) If a Commencement DateDate shall occur more than one hundred twenty (120) days after the applicable Original Delivery Date (the “Fourth Penalty Period”), for any purpose whatsoever, including without limitationwhich Original Delivery Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the performance of Tenant's Work, all Rent Concession Period applicable to such portion of the terms, covenants and conditions Premises shall be increased by two (2) days for each day during the Fourth Penalty Period that Landlord fails to deliver possession of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as portion of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredPremises.

Appears in 1 contract

Sources: Lease Agreement (Cowen Group, Inc.)

Commencement Date. (a) The term “Commencement Date” of this Lease shall be established as of the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier later to occur of (a) the opening for business date that is ninety (90) days following the date of Substantial Completion of all of the Improvements, including the Building and Tenant Improvements; or (b) six (6) months after January 1, 2011. Upon the determination of the date when Landlord delivers of Substantial Completion and the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, at either party’s request, Landlord and Tenant shall be extended until sign an agreement setting forth the Commencement Date and the expiration date of the Initial Term; provided, however, that the failure of the parties to do so shall not affect the determination of such dates, nor Landlord's Work is substantially complete. If ’s or Tenant's building is not complete by ’s respective rights and obligations hereunder from and after the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below,. (b) Upon Landlord shall construct and complete all the Rent Commencement DateImprovements, including the Building and all the Tenant shall (i) be obligated to commence payment of Minimum RentImprovements, Additional Rent in accordance with the Improvements Plans and all other charges required to be paid by Specifications and the Tenant under this Lease, all of which shall be deemed to be additional rent Improvements Plans and (ii) be required to perform all obligations required to be performed by the Tenant under Specifications and the terms and provisions of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)Work Letter. (c) As soon Landlord shall use commercially reasonable efforts to Substantially Complete the Improvements, including the Building and the Tenant Improvements, as may follows: the Building, certain of the parking areas (subject to the terms and provisions of Section 43 below) and all Tenant Improvements on the First Floor of the Building shall be convenient Substantially Completed on or before October 1, 2010; all Tenant Improvements on the Second Floor of the Building, together with certain of the parking areas (subject to the terms and provisions of Section 43 below) shall be Substantially Completed on or before October 15, 2010; and all Tenant Improvements on the Third Floor of the Building, together with certain of the parking areas (subject to the terms and provisions of Section 43 below) shall be Substantially Completed on or before November 1, 2010. If Landlord is unable to Substantially Complete all of the Building and other Improvements, including all Tenant Improvement Work on the respective floors in accordance with the above Schedule (each a “Target Completion Date”), and such delay is not due to any act, omission of Tenant or its agents, representatives, contractors or employees, or to a Tenant Change Order as defined in Section 2.2 of the Work Letter (in which event each of the Target Completion Dates shall be adjusted as set forth therein), or to any Force Majeure Event (as hereinafter defined at Section 42), or, subject to the terms of Section 2.2(b) above, to the failure of Tenant to assign the Option Agreement to Landlord on or before September 30, 2009 as set forth at Section 2.2(e) above (in which event, subject to the limitations set forth at Section 2.2(e) above, each of the Target Completion Dates shall be adjusted as set forth therein), or to the failure of Landlord to acquire the Land pursuant to the Option Agreement on or before September 30, 2009 as set forth at Section 2.2(e) above (in which event, subject to the limitations set forth at Section 2.2(e) above, each of the Target Completion Dates shall be adjusted as set forth therein), Tenant shall: (i) accrue one (1) day of free Rent for each of the first thirty (30) days beyond such Target Completion Date that such Substantial Completion is delayed by Landlord; (ii) accrue two (2) days of free Rent for each of the second successive thirty (30) days beyond the applicable Target Completion Date(s) that such applicable Substantial Completion is delayed by Landlord; (iii) accrue three (3) days of free Rent for each day beyond the sixtieth (60th) day after the Rent Commencement applicable Target Completion Date has been determinedthat such applicable Substantial Completion(s) is delayed by Landlord. In the event that Substantial Completion of all the Improvements and all the Tenant Improvements is delayed by Landlord for more than ninety (90) days following the November 1, 2010 Target Completion Date, Tenant shall have the right, upon thirty (30) days additional written notice to Landlord, and as its sole and exclusive remedies as a result of such failure by Landlord, to: (x) terminate this Lease, whereupon neither party shall have any further liability under this Lease except that Landlord and shall be liable to Tenant agree for the value of all free rent accrued to join with each other in the execution date of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term termination of this Lease and Tenant shall be stated in said Commencement Certificate. (d) It is understood and agreed that have the right, at such time as Tenant or its employeesoption, agents, contractors or invitees enter to acquire the Premises after (the Execution Date and prior “Liquidated Damages Purchase Option”) pursuant to the Rent terms set forth in Section 3.2(d) by notifying Landlord in writing that Tenant is exercising the Liquidated Damages Purchase Option; or (y) perform any incomplete work to complete the Building, other Improvements and/or the Tenant Improvement(s), as applicable, on behalf of Landlord. In the event that Tenant elects to perform any such incomplete work pursuant to subsection (y) of this Section 3.2(b), Tenant shall, as of the Commencement Date, for any purpose whatsoever, including without limitation, be entitled to a credit against Rent in the performance amount of Tenant's Work, (A) all reasonable costs and expenses incurred by Tenant as a result of the terms, covenants said work and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and (B) Tenant shall be responsible entitled to free Rent for each day after each applicable Target Completion Date until Substantial Completion of each applicable portion of the Building, Improvements and/or Tenant Improvements; provided that the parties shall, prior to Tenant’s commencement of any such work, attempt to agree in writing upon a budget for any and all utility charges incurredcosts and expenses associated with any such incomplete Base Building Work and Tenant Improvement Work, but failure of the parties to so agree shall not delay or prevent Tenant from exercising its remedies hereunder and Landlord shall reserve its rights to contest the reasonableness of any claim of Tenant for costs incurred by Tenant to complete the Improvements and the Tenant Improvements.

Appears in 1 contract

Sources: Lease Agreement (Griffin Capital Net Lease REIT, Inc.)

Commencement Date. (aThe Commencement Date listed in Section l(g) The term of this Lease shall be represents an estimate of the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this . This Lease shall commence on the earlier estimated Commencement Date if the Premises Improvements are substantially completed by fourteen (14) days prior to such date, but otherwise the Commencement Date shall be first to occur of the following events (ai) the opening for business or fourteen (b14) six (6) months days after the date when on which Landlord delivers notifies Tenant that the Building Pad Premises Improvements are substantially completed in accordance with Exhibit D, (ii) the date on which Tenant commences beneficial occupancy of any portion of the Premises other than for move in purposes, or (iii) if substantial completion of the Premises Improvements is delayed due to Tenant's failure to perform its obligations under this Lease, then the date determined by Landlord as fourteen (14) days after the date upon which the Premises Improvements would have been substantially completed, but for Tenant's failure to perform. If this Commencement Date is later than the Section 1 Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, provided Landlord only that if substantial completion of manufacturing space on the first floor (the "Manufacturing Space") has not occurred by December 31, 1994 for any reason other than force majeure or delay caused by Tenant, or if the Premises Improvements are not all substantially completed all other site work as set forth on Exhibit "L" complete by the end seven month anniversary of such six the Commencement Date for any reason other than force majeure or delay caused by Tenant (6) month period, unless Landlord is prevented which Tenant caused delay shall include delay caused by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T"timely respond to plan proposals), in which event then Tenant shall commence paying rent at be entitled to cancel this Lease on thirty (30)days written notice to Landlord given within ten (10) days after ▇▇▇▇▇▇▇▇'s failure to meet an applicable deadline, and neither party shall have any further obligation to the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for businessother. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete shall confirm the Commencement Date by the end of the six (6) month period, not due written notice to Tenant's fault, . This Lease shall be for a term ("Lease Term") beginning on the Rent Commencement Date and ending on the Expiration Date, shall be unless extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided or sooner terminated in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under accordance with the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)this Lease. (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Master Lease (Tripath Imaging Inc)

Commencement Date. (a) The term of this Lease Commencement Date shall be the period specified in Section "1.2" hereof as last to occur of [February 15, 2000] or the "Lease Term"day following the Substantial Completion Date. The "Rent Commencement Date" For purposes of this Lease Lease, the Substantial Date shall commence on the earlier of be (ai) the opening first day as of which Lessor's Work has been completed except for business or items of work (band, if applicable, adjustment of equipment and fixtures) six which can be completed after occupancy has been taken without causing undue interference with Lessee's use of the premises (6i.e. so-called "punch list" items), (ii) months after Lessee has been given notice thereof, and, (iii) Lessee has been afforded an opportunity to walk through the date when Landlord delivers building to inspect Lessor's Work and has received certification from Lessor's architect that Lessor's Work has been completed in accordance with the plans and specifications referenced on Exhibit B attached hereto and the Base Building Pad requirements referenced on Exhibit C attached hereto. (iv) LESSOR has secured a Certificate of Occupancy for and on behalf of LESSEE. Further to Tenant provided Landlord has substantially completed all other site the extent that the Certificate of Occupancy is withheld for any of LESSEE's work as shown on Exhibit B, LESSOR shall be deemed to have satisfied this provision. Regardless of the requirements set forth in (i) - (iv) above, LESSEE recognizes that certain work to be performed by LESSOR, as identified as LESSOR's Work herein or otherwise, will require certain cooperation by LESSEE. In addition, LESSEE acknowledges and agrees that it is performing certain work, identified as LESSEE's Work and as more fully set forth on Exhibit "L" by the end B hereto. In cooperating with LESSOR's Work and performing LESSEE's Work hereunder, LESSEE agrees to promptly and diligently perform all of such six (6) month periodits obligations in a commercially reasonable manner, unless Landlord is prevented by Tenantand to take any and all steps as may be necessary to ensure that LESSEE's failure to perform the same does not in any way interfere with LESSOR's ability to complete TenantLESSOR's Work hereunder or to obtain the Certificate of Occupancy. In the event that LESSEE fails to perform hereunder, any and all delays caused as set forth on Exhibit "T"a result thereof, shall automatically provide LESSOR with an extension of the Construction Deadline and any and all deadlines hereunder this Lease for a duration equal to LESSEE's delay. Where LESSEE's default hereunder results in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenantdelays to LESSOR's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work ability to enable Landlord to complete its work. If Landlord's Work is not substantially complete by LESSOR's Work, or, to obtain the end Certificate of the six (6) month period, not due to Tenant's faultOccupancy, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which Substantial Completion Date shall be deemed to be additional rent and five (ii5) be required business days from the date that LESSOR could have satisfied subparagraph (i) above had LESSEE not defaulted hereunder. In addition, LESSEE's failure to perform all obligations required to be performed by the Tenant hereunder, in a prompt and diligent manner, shall also constitute a material default under the terms and conditions of the Lease (in addition Lease. Lessor shall complete as soon as conditions permit all "punch list" items, and Lessee shall afford Lessor access to the obligations required to be performed by premises for such purposes. Promptly upon the Tenant prior to occurrence of the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord Lessor and Tenant agree to join with each other in the execution of Lessee shall execute a Commencement Certificate, letter substantially in the form set forth attached hereto as Exhibit D, but the failure by either party to execute such a letter shall have no effect on Exhibit the Commencement Date, as hereinabove determined. If the Substantial Completion Date has not occurred by February 15, 2001 (the "CConstruction Deadline"), Lessee shall have the right to terminate this Lease by giving notice to Lessor not later than thirty (30) days after the Construction Deadline of Lessee's election so to do, and Lessor shall have 30 days to cure such default. The Rent Commencement Date and specified term of Failing which, this Lease shall be stated in said Commencement Certificate. (d) It is understood cease and agreed that at such time as Tenant come to an end without further liability or its employees, agents, contractors or invitees enter obligation on the Premises part of either parting after the Execution Date giving of such notice, except Lessor's obligation to immediately rebate in full any security deposit delivered to Lessor by Lessee as provided for herein. Such right of termination shall be Lessee's sole and prior exclusive remedy at law or in equity for Lessor's failure so to complete such Lessor's Work on or before the Rent Commencement Date, Construction Deadline. The Construction Deadline shall automatically be extended for the period of any delays caused by Force Majeure or for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable delay caused by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredLessee.

Appears in 1 contract

Sources: Commercial Lease (NxStage Medical, Inc.)

Commencement Date. (a) The term of this Lease Commencement Date shall be targeted for the date set forth in Section 2.03 hereof, but shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of of: (ai) the opening for business date on which the 3rd Floor Tenant Improvement Work (as defined in Exhibit C) is substantially completed and Tenant can take occupancy of the Demised Premises; or (bii) six the day on which Landlord obtains a Certificate of Occupancy (6temporary or final) months after or other form of governmental approval permitting Tenant’s occupancy of the date when Landlord delivers 3rd Floor Premises; or (iii) the Building Pad to day on which Tenant takes occupancy of any portion of the Demised Premises; provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless that Landlord is prevented by not unreasonably delayed in the completion of 3rd Floor Tenant Improvement Work due to Tenant's failure ’s Work Changes to complete the Plans and Specifications, Additional Work requests or Tenant's Work as set forth on Exhibit "T"’s delays in giving necessary approvals, in which event Tenant shall commence paying rent at case the end Commencement Date will be accelerated by the number of any such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for businessdays of delay. Landlord will complete Landlord's Work when shall inform Tenant has completed such work of the anticipated date on which it expects to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end 3rd Floor Tenant Improvement Work and/or receive a Certificate of the six Occupancy (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below,temporary or final). (b) Upon After the Rent Commencement Datecommencement of the Term, the Landlord and Tenant shall (i) be obligated promptly execute, acknowledge and deliver to commence payment of Minimum Renteach other the Commencement Date Memorandum attached hereto as Exhibit G, Additional Rent which confirms the actual Commencement and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms Expiration Dates of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)Lease. (c) As soon The Expansion Space Effective Date shall be the earlier of: (i) the date on which the Expansion Space Tenant Improvement Work (as may be convenient after the Rent Commencement Date has been determined, Landlord defined in Exhibit C) is substantially completed and Tenant agree to join with each can take occupancy of the Expansion Space; or (ii) the day on which Landlord obtains a Certificate of Occupancy (temporary or final if required) or other form of governmental approval permitting Tenant’s occupancy of the Expansion Space; or (iii) the day on which Tenant takes occupancy of any portion of the Expansion Space; provided that Landlord is not unreasonably delayed in the execution completion of a Commencement CertificateExpansion Space Tenant Improvement Work due to Tenant’s Work Changes to the Plans and Specifications, Additional Work requests or Tenant’s delays in giving necessary approvals, in which case the form set forth on Exhibit "C"Expansion Space Effective Date will be accelerated by the number of any such days of delay. The Rent Commencement Date and specified term of this Lease Landlord shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as inform Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions anticipated date on which it expects to substantially complete the Expansion Space Tenant Improvement Work and/or receive a Certificate of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredOccupancy (temporary or final).

Appears in 1 contract

Sources: Lease Agreement (Sco Group Inc)

Commencement Date. (a) The term Landlord covenants to use commercially reasonable efforts to cause substantial completion of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated the Shell Improvements and delivery of the Premises to commence payment Tenant for purposes of Minimum Rent, Additional Rent and all other charges required to be paid by Tenant's construction of the Tenant under this LeaseImprovements in accordance with the Work Letter on or before April 1, all of which shall be deemed to be additional rent 2001, and (ii) be required to perform all obligations required to be performed by the Tenant under the terms substantial completion of the Lease 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 addition 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 obligations Premises for each day that Landlord fails to timely deliver the Shell Improvements and/or the Base Building Improvements as required to be performed by herein (the Tenant prior to the "Free Rent Commencement DatePeriod"). ; (cb) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated delayed for the period of delay in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all substantial completion of the termsShell Improvements and/or delivery of the Premises, covenants as applicable, resulting from Landlord's default and conditions for the duration of this Lease shall apply to the parties as if Free Rent Period; and (c) the Expiration Date of the Lease Term had begun at such time excepting those provisions as to Minimum Rentshall likewise be extended; provided, Additional Rent and any other charges payable by Tenant, which shall go into effect as that in the event that substantial completion of the Rent 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, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred."

Appears in 1 contract

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

Commencement Date. (a) The term of this Lease shall be lease (the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease ”) shall commence on the date (herein referred to as “Commencement Date”) which shall be the earlier of (ai) the opening date Tenant occupies the Demised Premises for the conduct of their business or (bii) six (6) months after the date when Landlord delivers the Building Pad 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 it shall be so 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 have been delivered to Tenant vacant and broom clean. Landlord shall use commercially reasonable efforts to 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 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 has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure 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 Work as set forth on Exhibit "T", in which event ’s conduct of business during such work. Tenant shall commence paying the Basic Annual Rent and additional rent at due under this Lease on the end of such six date (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date”) that is the later of the date that is five (5) Business Days after the Commencement Date and June 1, shall be extended until Landlord's Work is substantially complete2019. If Tenant's building is Notwithstanding anything herein to the contrary, in the event the Commencement Date does not complete occur by the Rent Commencement November 1, 2019 (“Outside Date”), Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event right to cancel this Lease by written notice to Landlord, and upon delivery of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of such notice this Lease shall be stated in said Commencement Certificatedeemed terminated and neither party shall have any further rights or obligations hereunder. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Inter Parfums Inc)

Commencement Date. (a) The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the "Term") shall be for the period specified duration set forth in Section "1.2" 1.3 hereof as the "Lease Term". The "Rent Commencement Date" of this Lease and shall commence on the earlier date set forth in Section 1.3.2 of this Lease (athe "Commencement Date") the opening for business or (b) six (6) months after and shall terminate on the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end in Section 1.3.3 of such six (6) month periodthis Lease, unless Landlord is prevented by Tenant's failure sooner terminated pursuant to complete Tenant's Work as set forth on Exhibit the terms of this Lease. For purposes of this Lease, the term "T", in which event Tenant Lease Year" shall commence paying rent at the end of such six mean each consecutive twelve (612) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for businessduring the Term. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by Notwithstanding the end definition of the six (6) month periodCommencement Date for the Premises set forth in Section 1.3.2, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Dateabove, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event right to commence business operations from any portion of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, Premises (b) Upon the Rent Commencement Datesuch space, the Tenant shall "Pre- Occupancy Space") during the "Pre-Occupancy Period," as that term is defined below, provided that (i) be obligated to commence payment Tenant shall give Landlord at least ten (10) days prior notice of Minimum Rentany such use of the Premises, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed 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 under does commence business operations from any Pre- Occupancy Space prior to the terms occurrence of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants terms and conditions of this Lease shall apply to that portion of the parties as if 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 Tenant commences business operations from the applicable Pre-Occupancy Space and continuing until the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Commencement Date (the "Pre-Occupancy Period"). Following Tenant, which shall go into effect as 's possession of the Rent Premises, Tenant shall confirm the Commencement Date, even if TenantDate upon Landlord's Work is not completeddelivery to Tenant of an instrument in the form set forth on Exhibit B attached hereto. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, execute and Tenant return such instrument within ten (10) days after written request from Landlord. This Lease shall be responsible for any a binding contractual agreement effective upon the date of execution hereof by both Landlord and all utility charges incurredTenant, notwithstanding the later commencement of the Term. 4.

Appears in 1 contract

Sources: Office Lease (Activision Inc /Ny)

Commencement Date. (a) The term Commencement Date of this the Lease shall be the period specified earlier of the date on which: (i) Tenant takes possession of any portion of the Premises in Section "1.2" hereof order to conduct business thereon; (ii) the Premises would have been Ready for Occupancy but for Tenant Delays (as defined in the "Lease Term"Improvement Agreement attached hereto as Exhibit B); or (iii) the Premises are Ready for Occupancy, but, in the case of (ii) and (iii), in no event before the Estimated Commencement Date. The "Rent Premises shall be deemed “Ready” or “Occupancy” on the date of substantial completion (as defined herein) of all Landlord’s Work to be constructed by Landlord in the 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. Tenant shall, within ten (10) days after receipt of demand, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit C acknowledging the actual Commencement Date of this Lease Lease. For purposes of this Lease, “substantial completion’ shall commence on the earlier of (a) the opening for business or (b) six (6) months after mean the date when Landlord delivers by which all of the Building Pad to Tenant provided following have occurred: (i) Landlord has substantially completed all the Landlord’s Work (other site work as set forth on than the Cafeteria and the Fitness Center) in accordance with Exhibit "L" by B of this Lease; (ii) Landlord has delivered possession of the end 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 such six (6) month period, unless Landlord is prevented occupancy from the appropriate governmental authorities required for the legal occupancy of the Premises by Tenant's failure . Notwithstanding anything to complete Tenant's Work as set forth on Exhibit "T"the contrary contained in this Lease, in if the Cafeteria and Fitness Center are not Ready for Occupancy by October 1, 2002 (which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, date shall be extended until Landlord's Work is substantially complete. If Tenant's building is 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 either the Cafeteria or the Fitness Center are not complete by the Rent Commencement DateReady for Occupancy, Tenant shall commence paying rent and all other charges subject to the provisions of this receive as a credit against Base Rent (as defined in Section 3.1 (abelow) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other liquidated damages in the execution amount of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement CertificateFive Hundred Dollars ($500.00) per day. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Palmsource Inc)

Commencement Date. (a) The term of this Lease Notwithstanding anything to the contrary contained in the Lease, the Commencement Date shall be the period specified date which is thirty-eight (38) days prior to the date of substantial completion of Landlord's Work (other than the "punchlist" items as set forth in Section "1.2" hereof 1.6 of Exhibit D to the Lease). For purposes of determining the Commencement Date as set forth in the "Lease Term". The "Rent Commencement Date" immediately preceding sentence, the date of this Lease substantial completion of Landlord's Work shall commence on be deemed to be the earlier date that substantial completion of (a) the opening Landlord's Work would have occurred but for business or (b) six (6) months any Tenant Delay that occurs after the date when of this First Amendment (i.e., for each day of such Tenant Delay the date of substantial completion of Landlord's Work shall be moved forward by one (1) day and specifically excluding any claim of Tenant Delay arising prior to the date of this First Amendment pursuant to the releases provided in Section 4 of this First Amendment below). Landlord delivers the Building Pad shall provide written notice to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by promptly upon the end occurrence of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenantsubstantial completion of Landlord's Work as set forth on Exhibit above (the "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed Completion Notice") and upon receipt of such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's faultCompletion Notice, the Rent Commencement Date, Parties' shall be extended until promptly schedule and perform a walk-through inspection of Landlord's Work is substantially complete. If Tenant's building is not complete by in the Rent Commencement Date, Tenant shall commence paying rent Premises to identify any "punchlist" items all in accordance with and all other charges subject pursuant to Section 1.6 of Exhibit D to the provisions Lease. All Basic Rental and ▇▇▇▇▇▇'s Proportionate Share of this Section 3.1 the Estimate of the Direct Costs for the period commencing on the Commencement Date through the last day of the first (a1st) full month following the Commencement Date (less any amounts of Basic Rental and Direct Costs already received by Landlord including pursuant to Article 1(J) of the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(aLease) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed due and payable by Tenant to be additional rent and Landlord within five (ii5) be required to perform all obligations required to be performed by the Tenant under the terms business days after ▇▇▇▇▇▇'s receipt of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if TenantLandlord's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredCompletion Notice.

Appears in 1 contract

Sources: Lease Agreement (Crinetics Pharmaceuticals, Inc.)

Commencement Date. (a) The term Commencement Date of this the Lease shall be the period specified earlier of the date on which: (i) Tenant takes possession of any portion of the Premises in Section "1.2" hereof order to conduct business thereon; (ii) the Premises would have been Ready for Occupancy but for Tenant Delays (as defined in the "Lease Term"Improvement Agreement attached hereto as Exhibit B); or (iii) the Premises are Ready for Occupancy, but, in the case of (ii) and (iii), in no event before the Estimated Commencement Date. The "Rent Premises shall be deemed “Ready for Occupancy” on the date of substantial completion (as defined herein) of all Landlord’s Work to be constructed by Landlord in the 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. Tenant shall, within ten (10) days after receipt of demand, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit C acknowledging the actual Commencement Date of this Lease Lease. For purposes of this Lease, “substantial completion’ shall commence on the earlier of (a) the opening for business or (b) six (6) months after mean the date when Landlord delivers by which all of the Building Pad to Tenant provided following have occurred: (i) Landlord has substantially completed all the Landlord’s Work (other site work as set forth on than the Cafeteria and the Fitness Center) in accordance with Exhibit "L" by B of this Lease; (ii) Landlord has delivered possession of the end 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 such six (6) month period, unless Landlord is prevented occupancy from the appropriate governmental authorities required for the legal occupancy of the Premises by Tenant's failure . Notwithstanding anything to complete Tenant's Work as set forth on Exhibit "T"the contrary contained in this Lease, in if the Cafeteria and Fitness Center are not Ready for Occupancy by October 1, 2002 (which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, date shall be extended until Landlord's Work is substantially complete. If Tenant's building is 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 either the Cafeteria or the Fitness Center are not complete by the Rent Commencement DateReady for Occupancy, Tenant shall commence paying rent and all other charges subject to the provisions of this receive as a credit against Base Rent (as defined in Section 3.1 (abelow) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other liquidated damages in the execution amount of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement CertificateFive Hundred Dollars ($500.00) per day. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Palm Inc)

Commencement Date. (a) The term of this Lease As herein used, the phrase “commencement date” shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on mean the earlier of of: (ai) the opening day Sublessee opens for business in the demised premises, or (ii) ninety (90) days after Sublessor has delivered to Sublessee possession of the demised premises as same are to be substantially completed by Sublessor and ready for occupancy, as in (b) below. The anticipated delivery date is within six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for businessa fully executed sublease agreement. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed Sublessee shall not be an Event required to accept delivery between 11-01-00 and 01-31-01. Should Sublessee not receive possession by 01-31-01, Sublessee at its option may terminate this sublease agreement by notice to Sublessor at any time prior to delivery of Defaultpossession of the demised premises to Sublessee. Notwithstanding the above, unless the Tenant's building is not completed by the date provided in Section 3.3(aSublessor shall give Sublessee at least sixty (60) below,days advance written notice of its anticipated delivery date, so that Sublessee might plan accordingly. (b) Upon Possession of the Rent Commencement Date, the Tenant demised premises shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall not be deemed to be additional rent have been given to Sublessee unless the demised premises are ready for the installation of Sublessee’s fixtures and (ii) be required to perform all obligations required to be performed finishing work by the Tenant under the terms Sublessee, and are free of the Lease (in addition any violation of laws, ordinances, regulations and building restrictions relating to the obligations required to be performed by possession or use of or construction upon the Tenant prior to the Rent Commencement Date)demised premises. Sublessor’s work is listed on Exhibit “B”, attached hereto and made a part hereof. (c) As soon Prior to the date on which possession is delivered to Sublessee as may aforesaid, Sublessee shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and receiving merchandise and other property, provided that it does not unreasonably interfere with Sublessor’s construction activities. All work other than that to be convenient performed by Sublessor is to be done by Sublessee within ninety (90) days after the Rent Commencement Date date possession of the demised premises has been determineddelivered to Sublessee, Landlord at Sublessee’s expense in accordance with the provisions of this Sublease and Tenant agree to join with each other as set forth in the execution schedule entitled Description of Sublessee’s Work and attached hereto as Exhibit “C” and made a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificatepart hereof. (d) It is understood From the date upon which the demised premises are delivered to Sublessee for its work until the commencement date of the sublease term, Sublessee shall observe and agreed that at such time as Tenant or perform all of its employeesobligations under this Sublease (except its obligation to operate and to pay minimum rent, agentspercentage rent, contractors or invitees enter its pro rata share of maintenance costs, provided for in Section 16 hereof, its pro rata share of real estate taxes provided for in Section 28 hereof and its prorata share of insurance provided for in Section 29 hereof). In the Premises event Sublessee fails to open for business within ninety (90) days after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all date possession of the termsdemised premises has been delivered to Sublessee, covenants and conditions of this Lease shall apply Sublessor, in addition to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility other available remedies, may require Sublessee to pay to Sublessor, in addition to all other rent and charges incurredherein, as liquidated damages and not as a penalty, an amount equal to one-one hundred eightieth (1/180) of the annual minimum rent for each day such failure to open continues.

Appears in 1 contract

Sources: Assignment and Assumption Agreement (Retail Ventures Inc)

Commencement Date. (ai) The commencement date of this Lease with regard to the Mandatory Expansion Space shall be March 23, 1999, or such later date as Landlord shall be able to deliver the Mandatory Expansion Space to Tenant (in either case, the "Mandatory Expansion Space Lease Commencement Date"). (ii) The term of this Lease shall be with regard to the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease Mandatory Expansion Space shall commence on the date Landlord delivers possession of the Mandatory Expansion Space to Tenant ("Mandatory Expansion Space Delivery Date"), but in no event shall the Mandatory Expansion Space Delivery Date be earlier than March 23, 1999, without Tenant's prior approval. (iii) The lease termination date with respect to the Mandatory Expansion Space will be the same as the Lease Expiration Date for the Initial Demised Premises. The Corporate Advisory Board Company Lease June 23, 1998 Final (C.) Conditions of the Leasing of the Mandatory Expansion Space by Tenant. --------------------------------------------------------------------- Tenant shall lease the Mandatory Expansion Space from Landlord subject to and upon the following conditions, and where not in conflict with the following, on the same terms and conditions as the Initial Demised Premises: (ai) Tenant shall accept the opening Mandatory Expansion Space in "AS IS" condition, without Landlord being required to undertake any demolition, removals, alterations, improvements, decorations, repairs or modifications of the Mandatory Expansion Space. This provision shall not in any way affect any repair and maintenance obligations of Landlord hereunder with respect to the Mandatory Expansion Space, if any. (ii) Tenant shall pay to Landlord, as Basic Annual Rent for business or the Mandatory Expansion Space (b"Mandatory Expansion Space Rent") six an amount equal to the product of the number of square feet of rentable area attributable to the Mandatory Expansion Space, multiplied by the then-applicable per-square-foot Basic Annual Rent attributable to the Initial Demised Premises in effect for each Lease Year of the remainder of the term, beginning with the Lease Year in which the Mandatory Expansion Space Rent Commencement Date (6as hereinafter defined) occurs and further, to pay that Mandatory Expansion Space Rent in equal monthly installments to Landlord with the Basic Monthly Rent paid for the Initial Demised Premises. (iii) Tenant shall commence to pay Mandatory Expansion Space Rent, in advance, from and after three (3) months after the date when Landlord delivers Mandatory Expansion Space Lease Commencement Date (the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six Mandatory Expansion Space Rent Commencement Date"). (6iv) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at to pay Adjustment Rent for the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by Mandatory Expansion Space from and after the end of the six (6) month period, not due to Tenant's fault, the Mandatory Expansion Space Rent Commencement Date, and the percentage of the Tenant's Operating Expense Share and the percentage of the Tenant's Real Estate Tax Share shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by increased to reflect the addition of the Mandatory Expansion Space to the Initial Demised Premises in accordance with the calculation of such percentages set forth in Paragraph 5 of the Lease entitled "OPERATING EXPENSE INCREASES AND REAL ESTATE TAX ----------------------------------------------- ADJUSTMENTS", such revised percentages to become effective as of the Mandatory -------------- Expansion Space Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided with appropriate pro rata adjustments in Section 3.3(a) below, (b) Upon the Adjustment Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of being made in the Lease (Year in addition to which the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Mandatory Expansion Space Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificateoccurs. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Corporate Executive Board Co)

Commencement Date. (a) a. The term of this Lease Commencement Date shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (ai) the opening for business date on or after May 15, 2005, which is thirty (b30) six (6) months days after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Delivery Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) the date Tenant begins fully staffed operation of business in all portions of the Premises. Landlord will proceed diligently and make commercially reasonable efforts to achieve a Delivery Date of not later than April 1, 2005. The Delivery Date shall be required the date when both the TI Work and Landlord’s Work have been substantially completed in accordance with this Work Letter (excluding items of work and adjustment of equipment and fixtures that can be completed after the Premises are occupied without causing material interference with Tenant's use of the Premises -- i.e., "punch list items"). As used herein, “substantially completed” shall mean the earlier of: (i) the date Landlord has the Premises ready for occupancy by Tenant as evidenced by (a) a permanent or temporary Certificate of Occupancy, and (b) a certificate of substantial completion as to perform all obligations required to be performed the TI Work and Landlord’s Work as issued by the ▇▇▇▇▇▇ Group, Inc., with the fee for issuance of such certificate being shared equally by Landlord and Tenant, or (ii) the date Landlord could have substantially completed the TI Work and Landlord's Work had there been no Excused Delays. Landlord will permit Tenant under access to the terms Building and Premises on and after April 1, 2005 (regardless of whether Delivery Date has occurred) for the purpose of installing cabling and other fixtures and equipment. Landlord will deliver to Tenant possession of the Lease (Premises on the Delivery Date for Tenant’s set-up, installation of furniture and equipment, move-in, and start-up of business operations. Such early occupancy and use of the Premises by Tenant will be done in addition coordination with Landlord and Contractor and will be carried out with the minimum of interruption and disruption of Contractor’s construction, and will be subject to the obligations required reasonable requirements of Landlord and Contractor. If Landlord fails to be performed achieve Delivery Date by April 15, 2005 other than as a result of force majeure or Excused Delay, the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determinedwill be delayed one day for each such day or delay, Landlord and Tenant agree to join with each other in beginning on the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoeverLandlord will reimburse Tenant the amount of Tenant’s holdover premium charged by Tenant’s existing landlord under its existing lease, including without limitationin an amount of up to $51,395.78 per month, the performance plus sales tax (except that if Tenant's existing landlord has notified Tenant that it is negotiating with a prospective lessee of Tenant's Workpremises under the existing lease, all of the termsholdover premium for which Landlord shall reimburse Tenant may be up to $103,505.56 per month, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place more specifically provided in its name, any utilities which Tenant requires during the performance Section 18 of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredexisting lease).

Appears in 1 contract

Sources: Office Lease (Brown & Brown Inc)

Commencement Date. The Commencement Date shall be the earlier of May 1, 1992 or the date (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of ten (a10) the opening for business or (b) six (6) months days after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed on which all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to following conditions have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall been met: (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations the work required to be performed by Tenant on the Tenant under interior of, and on the terms 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 Lease 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 addition to the obligations required entire existing building on the Premises (such date 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 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 time, provided that none of such 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 prior 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 Rent Certificate of Occupancy. Upon occurrence of the Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of shall enter into a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificateside letter acknowledging such date. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease (Analog Devices Inc)

Commencement Date. Subject to the limitations hereafter set forth, the Commencement Date shall be the last to occur of (ai) The term that date which is 31 days after August 1, 1994 (such date as it may be extended pursuant to the terms of this Lease shall be the period specified in Section "1.2" hereof as being the "Lease TermConstruction Completion Date". The "Rent Commencement Date" of this Lease shall commence on the earlier of ), or (aii) the opening for business or (b) six (6) months day which is 30 days after the date when Landlord delivers on which the Building Pad to Premises are "ready for occupancy" as provided in Section 4.2. The Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month periodshall, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end upon demand of the six (6) month periodLandlord, not due to Tenant's fault, execute a certificate confirming the Rent Commencement Date, shall be extended until Landlord's Work Date as it is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to determined in accordance with the provisions of this Section 3.1 4.1. Landlord shall allow Tenant to enter the Premises on the Substantial Completion Date (aas determined by Landlord) for purposes of Tenant setting up its work stations and equipment and performing trial runs of its testing and manufacturing equipment. Notwithstanding that the failure to have the building completed Commencement Date shall not occur until a subsequent date, Tenant shall, from and after the date of such entry, be an Event of Default, unless the Tenant's building is not completed bound by the date provided terms, covenants, provisions and agreements contained in Section 3.3(athe Lease (except the obligation to pay Basic Rent and Taxes) below, during such period prior to the Commencement Date (bsaid period being the "Early Occupancy Period") Upon including, without limitation the Rent Commencement Date, the provisions of Article X and Article V. Tenant shall (i) also be obligated to commence payment of Minimum Rent, Additional Rent responsible for all costs for utilities used and all other charges required to be paid by consumed in the Tenant under this Lease, all of which Premises during the Early Occupancy Period. Nothing contained herein shall be deemed or construed to be additional rent mean that Tenant may occupy the Premises for the Permitted Use during the Early Occupancy Period. Any occupancy of all or any part of the Premises by Tenant for the Permitted Uses (other than the limited purpose of setting up work stations and (iiequipment and performing trial runs on testing and manufacturing equipment) be required shall result in the Commencement Date occurring regardless of the condition or state of completion of Landlord's Work and Tenant shall permit Landlord to continue to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other Landlord's Work in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completedPremises. Tenant shall place not interfere in its name, any utilities which Tenant requires during regard with Landlord's completion of Landlord's Work and hereby agrees to be bound by the performance direction of Landlord's contractor or the Construction Manager (as hereafter defined) in the event of any conflicts between the Landlord's Work and the work being performed by Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Sublease (Genomic Solutions Inc)

Commencement Date. (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" Term of this Lease shall commence ("Commencement Date") on the earlier first day of (a) the opening for business or (b) six (6) months after first full month following the date when Landlord delivers on which the Building Pad to Tenant provided Landlord has substantially completed all other site work Improvements are Substantially Complete (as set forth hereinafter defined) except that if Substantial Completion occurs on Exhibit "L" by the end first day of such six (6) month perioda month, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant that date shall commence paying rent at be the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent 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 extended until Landlorddeemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord files or causes to be filed with the City of El Segundo (if required) and delivers to Tenant an architect's Work notice of substantial completion, or 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 substantially completeissued for the Improvements or (2) Tenant commences substantial business operations in the Premises. If Tenant's building is not complete by On the Rent Commencement Date, Tenant shall commence paying rent execute and all other charges subject deliver to Landlord a Commencement Date Memorandum in the provisions 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 (v) Tenant's acceptance of the Premises. If the Improvements are not Substantially Complete on the Estimated Commencement Date as extended by "Force Majeure Delay" and "Tenant Delay," as those terms are defined in the Work Letter, then this Section 3.1 (a) and the failure to have the building completed Lease shall remain in effect, Landlord shall not be an Event of Defaultsubject to any liability, unless and the Tenant's building is not completed by Commencement Date shall be delayed until the date provided the Improvements are Substantially Complete. Notwithstanding anything to the contrary contained herein, if there is any delay in Section 3.3(a) below, (b) Upon the Rent Substantial Completion of the Improvements or in the occurrence of any of the other conditions precedent to the Commencement Date, and such delay is a result of Tenant Delay, then regardless of the Tenant shall (i) be obligated to commence payment actual date of Minimum RentSubstantial Completion of the Improvements, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which Commencement Date shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the date the Commencement Date would have occurred if no Tenant under the terms Delay had occurred, as determined in accordance with Section 12 of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)Work Letter. (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease (Infonet Services Corp)

Commencement Date. (a) 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 period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (ai) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end substantial completion of the six Tenant Improvements (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (aas defined below) and the failure to have the building completed shall not be an Event of DefaultAdditional Work (as defined below), unless the Tenant's building is not completed by and (ii) the date provided in Section 3.3(a) below, that Tenant commences occupancy and use of the Premises for the purpose of conducting Tenant’s business operations therein (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment commencement of Minimum Rent, Additional Rent such occupancy and all other charges required to be paid by the Tenant under this Lease, all of which use shall be deemed to constitute “possession” for purposes of this Lease and Tenant shall not be additional rent deemed to be “in possession” of the Premises prior to the commencement of such occupancy and use). For purposes of this Lease, 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 Additional 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) be required to perform all obligations required to be performed by the City of Sunnyvale has approved the Tenant under Improvements and Additional Work in accordance with its building code, evidenced by its completion of a final inspection and written approval of such improvements as so completed in accordance with the terms of the Lease (in addition to the obligations required to be performed by building permit(s) issued for the Tenant prior to Improvements and/or Additional Work. If the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each is other in than the execution first day of a Commencement Certificate, in calendar month and/or if the form set forth on Exhibit "C". The Rent Commencement Date and specified term expiration date of this Lease is other than the last day of a calendar month, Rent (as defined below) shall be stated prorated for the month in said which the Commencement Certificate. (d) It is understood and agreed Date or expiration date, as applicable, occurs on the basis of the number of days that at such time as Tenant or its employees, agents, contractors or invitees enter had possession of the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at during such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredcalendar month.

Appears in 1 contract

Sources: Lease Agreement (Silicon Graphics Inc)

Commencement Date. (a) The term of this Lease (“Lease Term”) shall be for the period specified in Section "1.2" hereof Paragraph 1.5 above, commencing on the date set forth in Paragraph 1.6 (“Commencement Date”); provided, however, the Commencement Date shall be delayed until such time as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on Interior Work is Substantially Completed (as defined below) and at least three (3) weeks have elapsed in the earlier of Early Access Period (as defined below). (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's The Interior Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent “Substantially Completed” upon the occurrence of the earliest of the following: (i) The date on which all improvements to be constructed by Landlord have been substantially completed except for punch list items which do not prevent Tenant from using the Premises for its intended use, and the appropriate governmental approvals for occupancy of the Premises have been issued; or (ii) the date on which all improvements to be constructed by Landlord would have been substantially completed except for such work as Landlord is required to perform all obligations but which is delayed because of any of the following (each, a “Tenant Delay”): (A) delays in Tenant’s architect completing the Preliminary Interior Improvement Plans or the Final Interior Improvement Plans; (B) fault or neglect of Tenant, acts of Tenant or Tenant’s agents (including without limitation delays caused by work done on the Premises by Tenant or Tenant’s agents or by acts of Tenant’s contractors or subcontractors); (C) delays caused by change orders requested by Tenant or required because of any errors or omissions in plans submitted by Tenant; and (D) such work as Landlord is required to be performed perform but cannot complete until Tenant performs necessary portions of construction work it has elected or is required to do; provided, however, Tenant Delays shall not include any delays caused by the Tenant under the terms of the Lease (Landlord or Landlord’s architect or contractor in addition performing work relating to the obligations required to Exterior Work; or (iii) the date Tenant opens for business in the Premises. If the Commencement Date is a date other than the date set forth in Paragraph 1.6, then the Ending Date set forth in Paragraph 1.7, the rental adjustment dates set forth in Paragraph 1.8 and any other certain dates specified herein shall be performed by adjusted accordingly. When the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Ending Date, rental adjustment dates, and such other dates become ascertainable, Landlord and Tenant agree to join with each other shall specify the same in the execution of a Commencement Certificatewriting, in the form set forth on of the attached Exhibit "C", which writing shall be deemed incorporated herein. Tenant’s failure to execute and deliver the letter attached hereto as Exhibit C within thirty (30) days after Tenant receives written request from Landlord to do so (subject to any legitimate disagreement by Tenant with the terms thereof, which both parties shall use reasonable efforts to resolve) shall be a Default by Tenant hereunder. The Rent Commencement Date and specified term expiration of the Lease Term or sooner termination of this Lease shall be stated in said Commencement Certificateis referred to herein as the “Lease Termination. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Net Lease Agreement (Trident Microsystems Inc)

Commencement Date. (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" Term of this Lease shall commence on the earlier Commencement Date and, unless sooner terminated or extended as hereinafter provided, shall end on the Expiration Date. If Landlord does not tender possession of (a) the opening for business Additional Second Floor Space or (b) six (6) months after the date when Landlord delivers the Building Pad Additional Third Floor Space to Tenant provided on or before any specified date, for any reason whatsoever, Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event 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 Defaultthe Additional Second Floor Space or the Additional Third Floor Space, unless the as applicable, to Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which . 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 additional rent and no postponement of the Additional Second Floor Space or the Additional Third Floor Space (or 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 tender of possession to Tenant which results from any Tenant Delay or (ii) be required to perform all obligations required to be performed any delays by Landlord in the Tenant under the terms performance of the Lease (in addition any Punch List Items related to the obligations required 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 be performed 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 Tenant prior to Additional Second Floor Space and the Rent Commencement Date). (c) As soon as may be convenient after the Rent Additional Third Floor Space Commencement Date has been are determined, Landlord and Tenant agree to join with each other in shall execute an agreement stating the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Additional Second Floor Space Commencement Date, for any purpose whatsoever, including without limitationthe Additional Third Floor Space Commencement Date, the performance respective Rent Commencement Dates and the Expiration Date, but the failure to do so will not affect the determination of Tenant's Work, all such dates. If Landlord fails to perform and complete any Punch List Items within 30 days after the creation of the termslist of Punch List Items and such failure continues for more than 30 days after notice by Tenant to Landlord of such failure, covenants or if such failure is of a nature that it cannot be completely remedied within 30 days, failure by Landlord to commence to remedy such failure within said 30 days, and conditions of this Lease 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 apply be paid by Landlord to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant within 30 days after Landlord receives an invoice therefor from Tenant, which shall go into effect as be accompanied by true and complete copies of invoices and other reasonable support for the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, costs and Tenant shall be responsible for any and all utility charges incurredexpenses invoiced.

Appears in 1 contract

Sources: Lease Agreement (Philadelphia Consolidated Holding Corp)

Commencement Date. (a) If Tenant Does Not Utilize Full Service Space Planner. If Tenant does not employ a Full Service Space Planner under the terms of subparagraph 3.1(b), below, then the following provisions of this subparagraph 3.1 (a) shall apply. The term of this the Lease shall be under Section 1.5 of the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of of: (ai) thirty (30) days after the Completion Date (as the Completion Date is defined in Paragraph 1.3, above); or (ii) the opening date a certificate of occupancy (either temporary or permanent) is issued for business the Tenant Improvements, a final inspection approval is issued for the Tenant Improvements or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end City of such six (6) month period, unless Landlord is prevented by Calabasas otherwise allows Tenant's failure occupancy of the Tenant Improvements. Such date is herein referred to complete Tenant's Work as set forth on Exhibit the "T", in which event Tenant shall commence paying rent at Commencement Date" of the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for businessLease. Landlord will complete Landlord's Work when and Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by recognize that the end Commencement Date of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject Lease could occur prior to the provisions completion of this Section 3.1 (a) and construction of the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below,Tenant Improvements. (b) Upon If Tenant Utilizes a Full Service Space Planner. If Tenant on or before July 1, 1998 Engages a "Full Service Space Planner" approved by Landlord, which approval shall not be unreasonably withheld, to provide all of the Rent architectural, engineering, construction supervision and design services for the Tenant Improvements, then the term of the Lease under Section 1.5 of the Lease shall commence on the first to occur (a) shall not apply. Such Commencement Date under this subparagraph 3.1 (b) shall occur: (i) one (1) day earlier than the defined Commencement Date, above, for each day that a "Tenant Delay" as defined below causes a delay in the construction of the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by Improvements or the Tenant under this Lease, all of which shall be deemed to be additional rent and Shell; (ii) be required to perform all obligations required to be performed by one (1) day earlier than the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent defined Commencement Date, above, for any purpose whatsoever, including without limitation, the performance of each day that Tenant's Work, all general contractor takes longer than one hundred eight (108) days to complete construction of the terms, covenants and conditions Tenant Improvements from the date that Landlord makes the Shell available to Tenant for the commencement of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as construction of the Rent Tenant Improvements; and (iii) one (1) day earlier than the defined Commencement Date, even above, for each day that the Final Plans and Specifications are completed after September 15, 1998; except that if Tenant's Work is Tenant Engages by July 1, 1998 H. H▇▇▇▇ ▇▇▇ociates as a Full Service Space Planner, then subparagraphs 3.1(b)(ii) and (iii) shall not completedapply. The following items causing a delay in construction of the Tenant shall place in its name, any utilities which Tenant requires during Improvements or the performance of Tenant's Work, and Tenant Shell shall be responsible for any and all utility charges incurred.a "Tenant Delay" under this subparagraph 3.1

Appears in 1 contract

Sources: Industrial Real Estate Lease (Netcom Systems Inc)

Commencement Date. The Term of the Lease shall commence (a"Commencement Date") The term on the first day of this Lease 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 period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have Lease shall continue in full force and effect for the building completed shall not be an Event period of Default, unless time specified as the Tenant's building Term or until this Lease is not completed by the date terminated as otherwise provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which herein. The Premises shall be deemed to be additional rent "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 (ii) be required as defined in the Work Letter attached hereto as Exhibit B), if any, in accordance with and subject to perform all obligations required to be performed by the Tenant under the terms of the Lease 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 (in addition to i) the obligations required to be performed by the Tenant prior to the Rent Commencement Date). , (cii) As soon 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 subject to any liability, and the Commencement Date shall be delayed until the date the Premises are Substantially Complete. Tenant has determined that the Premises are acceptable for Tenant's use and Tenant acknowledges that, except as may be convenient after expressl▇ ▇▇▇▇rwise provided in this Lease, neither Landlord nor any broker or agent has made any representations or warranties in connection with the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution physical condition of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, or their fitness for Tenant's use upon which Tenant has relied directly or indirectly for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredpurpose.

Appears in 1 contract

Sources: Office Lease (Ipayment 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" (a) 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 term Actual Commencement Date of this Lease shall be subject to the period specified in Section "1.2" hereof as following conditions all being satisfied. (1) Landlord shall have performed and made the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad Leased Premises available to Tenant provided or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed all other site the work as set forth on pursuant to the work and drawings to be approved by Tenant pursuant to Exhibit "L" C - Landlord's Initial Fit-Out Work; (3) A Certificate of Occupancy permitting the occupancy by Tenant of the Leased Premises for its permitted use has been issued by the end of such six applicable governmental authority; (64) month period, unless Landlord is prevented has provided that all building systems serving the Leased Premises are in good operating condition and (5) Landlord shall obtain and deliver to Tenant an executed Agreement in recordable form executed by Tenant's failure the existing Mortgagee granting the subordination and non-disturbance agreement in form and content reasonably similar to the attached. Landlord shall use reasonably diligent efforts and proceed with due diligence to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end construction of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened the Building and Leased Premises and obtain a Certificate of Occupancy for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete the Building and for the Leased Premises by the end Initial Commencement Date of around April 15, 1999. In the six (6) month periodevent that Landlord has not completed the Building and the Leased Premises by June 15, not due to 1999, then Tenant's fault, the Rent Commencement Dateat its sole option, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated right to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of terminate this Lease shall and be stated in said Commencement Certificatereleased from any further obligation by so notifying Landlord within fifteen (15) days thereafter. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Assignment of Lease (Clayton Holdings Inc)

Commencement Date. This Lease, and the obligation to pay Minimum Annual Rent and additional Rent hereunder (asubject to any rent-free period as provided under Section 4(c) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease above), shall commence on the date (the "Commencement Date") that is the earlier to occur of: (i) The Monday following Tenant's occupancy of substantially all of the Premises for the purpose of conducting Tenant's business in and from the Premises (Tenant plans to move into and occupy the Building in phases over several weeks and the fact that Tenant occupies and opens for business in a part, but less than substantially all, of the Premises shall not in itself trigger Lease Commencement); (ii) If Tenant uses a contractor other than Landlord's Base Building general contractor for the construction of the Initial Tenant Improvements, the later of (a1) 120 days after the opening for business Tenant Access Date, or (b2) six (6) months 60 days after the date when Landlord delivers substantial completion of the Base Building Pad to and Site Improvements, it being the intent of the parties that if Tenant provided Landlord has substantially completed all uses a contractor other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete than Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Dategeneral contractor, Tenant shall commence paying rent have nonexclusive and all other charges unrestricted (subject to the provisions of this Section 3.1 5(a) above) access to the Premises for the 60-day period from 120 days to 60 days prior to the Commencement Date and exclusive access to the Premises (aother than access on the part of Landlord or its Agents to complete punchlist items, conduct inspections, or complete any items of unfinished work provided such access does not interfere with or delay Tenant's work) and for the failure to have 60-days preceding the building completed shall not be an Event Commencement Date. (iii) If Tenant uses Landlord's general contractor for the construction of Defaultthe Initial Tenant Improvements, unless the later of (i) the first Monday following the date that is 60 days after the date of substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant's building equipment, furniture and personal property; this work is not completed by contemplated to occur during the date provided in Section 3.3(a) below, (b) Upon 60-day period following the Rent Commencement Datesubstantial completion of the Initial Tenant Improvements), the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and or (ii) be required the date of substantial completion by Landlord of the Base Building and Site Improvements. Tenant shall use all reasonable diligence to perform all obligations required cause substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant's equipment, furniture and personal property; this work is contemplated to be performed by occur during the 60-day period following the substantial completion of the Initial Tenant Improvements) to occur within 60 days of the Tenant under Access Date. Without limiting the terms foregoing, If Tenant uses Landlord's general contractor for the construction of the Lease (Initial Tenant Improvements, Tenant shall contract with Landlord's general contractor, and provide Landlord's general contractor with construction plans and specifications, material selections and other appropriate information sufficiently in addition to the obligations required to be performed by advance of the Tenant prior to Access Date so that such general contractor can commence construction of the Rent Commencement Date). (c) As soon Initial Tenant Improvements as may be convenient after of the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Access Date and specified term proceed with construction without delay resulting from failure of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant to timely approve plans or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of select materials. Tenant's Work, all construction contract shall obligate such general contractor to substantially complete the Initial Tenant Improvements within 60 days of the terms, covenants and conditions Tenant Access Date. If construction of this Lease shall apply to the parties Initial Tenant Improvements is delayed as if the Lease Term had begun at a result of any such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable delay caused by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant Date shall be responsible the date this Lease would have commenced but for any and all utility charges incurredsuch delay.

Appears in 1 contract

Sources: Lease Agreement (Ontrack Data International Inc)

Commencement Date. (a) The term of this Lease Commencement Date shall be targeted for the date set forth in Section 2.03 hereof, but shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of of: (ai) the opening for business date on which the Tenant Work is substantially completed and Tenant can take occupancy of the Demised Premises; or (bii) six the day on which Landlord obtains a Certificate of Occupancy (6temporary or final) months after or other form of governmental approval permitting Tenant's occupancy of the date when Landlord delivers Demised Premises; or (iii) the Building Pad to day on which Tenant takes occupancy of the Demised Premises; provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless that Landlord is prevented by Tenant's failure to complete Tenant's not unreasonably delayed in the completion of Tenant Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's faultWork Changes to the Plans and Specifications, the Rent Commencement Date, shall be extended until Landlord's Additional Work is substantially complete. If requests or Tenant's building is not complete delays in giving necessary approvals, in which case the Commencement Date will be accelerated by the Rent Commencement number of any such days of delay. Landlord shall inform Tenant of the anticipated dates on which it expects to install the carpet in the Demised Premises so that Tenant may install its furniture (the "Carpet Install Date"), and substantially complete the Tenant Work and/or receive a Certificate of Occupancy (temporary or final). Notwithstanding the foregoing, Tenant shall commence paying rent may elect to delay its occupancy of the Demised Premises for the purpose of conducting its normal business operations, and all other charges subject thus delay the Commencement Date as follows: (i) In the event the Carpet Install Date is prior to May 20, 2005 and the Commencement Date would have otherwise occurred prior to June 1, 2005, Tenant may elect to delay taking occupancy of the Demised Premises (but may install its furniture and equipment), and thus delay the Commencement Date to the provisions date Tenant takes occupancy of this Section 3.1 the Demised Premises, but in no event later than June 1, 2005; (aii) In the event the Carpet Install Date is later than May 20, 2005 but prior to June 1, 2005, Tenant may elect to delay taking occupancy of the Demised Premises (but may install its furniture and equipment), and thus delay the failure Commencement Date to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date Tenant takes occupancy of the Demised Premises, but in no event later than July 1, 2005 provided that Tenant is obligated to pay, and does pay, Holdover Rent (as defined in Section 3.3(a4.02 (b) below,) for the month of June 2005; and (iii) In the event the Commencement Date would have otherwise occurred later than June 1, 2005 but prior to July 1, 2005, Tenant may elect to delay taking occupancy of the Demised Premises (but may install its furniture and equipment), and thus delay the Commencement Date to the date Tenant takes occupancy of the Demised Premises, but in no event later than July 1, 2005, provided that Tenant is obligated to pay, and does pay, Holdover Rent (as defined in Section 4.02 (b) below) for the month of June. (b) Upon In the Rent Commencement Date, event Landlord does not substantially complete the Tenant Work or obtain a Certificate of Occupancy (or other form of governmental approval permitting Tenant's occupancy of the Demised Premises) by no later than July 1, 2005 (the "Outside Completion Date"), which date shall be extended on a day-for-day basis for (i1) each day of "Force Majeure," as defined herein, or (2) for each day of delay caused by Tenant as described above or (3) for each day of delay attributable to governmental officials providing approvals, and as a result, Tenant can not take occupancy of the Demised Premises for the purpose of conducting its normal business operations, provided such delay is not attributable to Landlord's delay, then Tenant shall be entitled to additional Base Rent credits as follows: For each day beyond the Outside Completion Date that Tenant is obligated to commence pay a holdover rent payment above the rent otherwise due under its current lease at ▇▇-▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, Fairlawn, New Jersey, which Tenant represents the holdover payment to be a maximum of Minimum $22,128 per month (the "Holdover Rent"), Additional then Landlord agrees to absorb the Holdover Rent and all other charges required will provide Tenant with a per diem rent credit not to be exceed $737.60 per day, subject to Landlord's receipt of paid rent substantiating the Holdover Rent (for example, if the Outside Completion Date is not met by 5 days, but Tenant is obligated to pay a full month's rent plus the Holdover Rent of $22,128, then Landlord will provide for Base rent credits of $22,128; however, if Tenant under this Leaseis only obligated to pay 5 days of holdover rent, all then Landlord will provide Base Rent credits of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date$3,688). (c) As soon as may be convenient after After the Rent Commencement Date has been determinedcommencement of the Term, Landlord and Tenant agree shall promptly execute, acknowledge and deliver to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date Memorandum attached hereto as Exhibit G, which confirms the actual Commencement and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all Expiration Dates of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredLease.

Appears in 1 contract

Sources: Lease Agreement (Cover All 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" (a) 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 term Actual Commencement Date of this Lease shall be subject to the period specified in Section "1.2" hereof as following conditions all being satisfied. (1) Landlord shall have performed and made the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the opening for business or (b) six (6) months after the date when Landlord delivers the Building Pad Leased Premises available to Tenant provided or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed all other site the work as set forth on pursuant to the work and drawings to be approved by Tenant pursuant to Exhibit "L" C - Landlord's Initial Fit-Out Work; (3) A Certificate of Occupancy permitting the occupancy by Tenant of the Leased Premises for its permitted use has been issued by the end applicable governmental authority; (4) Landlord has provided that all building systems serving the Leased Premises are in good operating condition and (5) Landlord shall obtain and deliver to Tenant an executed Agreement in recordable form executed by the existing Mortgagee granting the subordination and non-disturbance agreement in form and content reasonably similar to the attached. Landlord shall use reasonably diligent efforts and proceed with due diligence to complete the construction of such six (6) month periodthe 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, unless 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 Lease and be released from any further obligations by notifying Landlord within 15 days thereafter. This termination right is prevented by subject to Exhibit C, specifically regarding Tenant's failure obligation to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. deliver Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)approved Initial Fit-Out Plans. (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Commercial Lease (Clayton Holdings Inc)

Commencement Date. (a) The term of this Lease "Initial Term" shall be for a period of five (5) Lease Years (as such term is defined hereinbelow), unless sooner terminated as provided herein. The Initial Term shall begin on the period specified in Section "1.2" hereof as date (the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on ") that is the earlier of to occur of: (i) one hundred-eighty (180) days from: (a) the opening Delivery Date (as such term is defined hereinbelow); or (B) the date Tenant opens for business or to the public. As used herein, the term: (b1) six "Lease Term" shall include the Initial Term and any exercised Option pursuant to the terms of Section 2.B hereof; (62) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "LLease Year" by the end of such six shall mean each successive twelve (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (612) month period notwithstanding occurring during the Lease Term or any extension or renewal thereof, provided if the Commencement Date is not the first day of a month, then the first Lease Year shall also include the balance of the month in which the Commencement Date occurs, so that Tenant may not have completed the first "Lease Year" shall begin on the Commencement Date and end on the last day of the twelfth (12th) full calendar month thereafter; and (3) the "Delivery Date" shall be the date of the later to occur of: (i) the full execution of the Lease by both parties (and ▇▇▇▇▇▇'s receipt of a copy of the same); (ii) Tenant's Work receipt of all keys required for ▇▇▇▇▇▇'s possession of the Premises; or opened for business. Landlord will complete (iii) Landlord's substantial completion of Landlord's Work when Tenant has completed (as such work to enable Landlord to complete its workterm is defined in Section 4 hereof). If Landlord's Work is not substantially complete by Within thirty (30) days after the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, Landlord shall be extended until Landlord's Work is substantially complete. provide to Tenant, and Tenant and Landlord shall execute, a Commencement Date Agreement setting the Commencement Date and the expiration date of the Initial Term in the form attached hereto as Exhibit D. If Tenant's building is not complete by Tenant occupies the Rent Premises prior to the Commencement Date, Tenant such early occupancy shall commence paying rent and all other charges be subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants terms and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurredLease.

Appears in 1 contract

Sources: Lease Agreement

Commencement Date. Notwithstanding the date the Aggregate Improvements for the 10th Floor Space (aas described in Paragraph 6 below) The term of this Lease are substantially completed by Tenant or the date Tenant receives a TCO or its equivalent for the 10th Floor Space, the Commencement Date for the 10th Floor space shall be the period specified in Section "1.2" hereof 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 Term". The "Rent Commencement Date" without any reference or regard to the 10th Floor Space or the status of this Lease shall commence on the earlier of Aggregate Improvements therefor, it being acknowledged by Tenant that: (a) the opening for business or 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) six the 10th Floor Space is not part of any Package described in Section 1(p) and thus will not delay or extend the Commencement Date or the Final Period described therein, notwithstanding any subsequently occurring Force Majeure Delays or Landlord Delays which actually delay substantial completion of the Aggregate Improvements for the 10th Floor Space; and (6c) months Package 4 was deemed delivered pursuant to Section 1(p) of the Lease on March 30, 1990, and thus the Commencement Date for the Premises and 10th Floor Space is scheduled to occur on August 27, 1990, which is 150 days after such deemed delivery date. Notwithstanding subclause (b) above, Landlord agrees that for each day that Tenant is actually delayed beyond the Commencement Date in substantially completing the Aggregate Improvements for the 10th Floor Space as a result of Force Majeure Delays occurring after the date when hereof, and/or as a result of Landlord delivers Delays occurring after the Building Pad to date hereof for which Tenant has provided Landlord has substantially completed all other site work requisite notice and opportunity to cure as set forth on Exhibit "L" by the end Pages 15 and 16 of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement DateSection 1(p), Tenant shall commence paying rent and all other charges subject be entitled to a corresponding abatement of one (1) day’s Base Rent otherwise payable for the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which 10th Floor Space. Such abatement shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)6-month abatement provided in Paragraph 4(a) below. (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)

Commencement Date. This Lease Agreement shall be for an initial term of ten (a10) years (the "Initial Term") commencing on the "Commencement Date" (as hereinafter defined). The term "Commencement Date" shall mean the earlier of the date of (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 commencement of business operations by Tenant or (iii) 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 shall 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 take to receive such items within ten (10) business days after Landlord's initial receipt of plans or specifications including such item, and then only to the extent that such delay could not be the period specified in Section avoided or reduced by Landlord's timely ordering of such item, allowing for such long lead time.) (collectively "1.2" hereof as the Tenant Delay"Lease Term"). The "Rent Commencement Date" of this Lease shall commence on the earlier of If Landlord desires to allege that Tenant Delay has occurred, no later than ten (a10) the opening for business or (b) six (6) months days after the occurrence of a Tenant Delay, Landlord shall deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to subparagraph (iii) hereof, to the extent any other Force Majeure Event coincides with an event of Tenant Delay, the date when Landlord delivers that Substantial Completion would have occurred but for such other Force Majeure Event will be extended "day for day" to the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end extent of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date)Force Majeure Event. (c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate. (d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.

Appears in 1 contract

Sources: Lease Agreement (Digital Lightwave Inc)