Commencement Date. The term of this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 2 contracts
Sources: Triple Net Building Lease (Informatica Corp), Triple Net Building Lease (Informatica Corp)
Commencement Date. The term of this Lease ("“Lease Term"”) shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy (Or Notice of Substantial Completion) first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "“Commencement Date"”) provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "“Lessee Delay"”), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("“Expiration Date"”). The parties shall execute a "“Memorandum of Commencement of Lease Term" ” when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "“E."”
Appears in 2 contracts
Sources: Sublease Agreement (Openwave Systems Inc), Sublease Agreement (Openwave Systems Inc)
Commencement Date. Landlord shall deliver possession of the Premises to Tenant on the date (the “Delivery Date”) that Landlord’s Market Ready Improvements described on EXHIBIT C attached hereto and the Tenant Improvements to be completed by Landlord pursuant to the Work Letter Agreement attached hereto as EXHIBIT D are substantially completed. For purposes of this Lease, Landlord’s Market Ready Improvements and the Tenant Improvements shall be deemed to be “substantially completed” when Landlord’s Market Ready Improvements and the Tenant Improvements have been completed in accordance with any plans and specifications therefor, subject only to the completion of any minor punch-list items, and the City of Sunnyvale has completed a final inspection of such work and issued a temporary certificate of occupancy or other written approvals permitting legal occupancy of the Premises. The term of this Lease ("Lease “Term"”) shall be for twelve seventy-six (1276) years beginning months commencing on the earlier of date (the “Commencement Date”) which is thirty (30) days from the Delivery Date. If the Delivery Date does not occur on or before May 1, 2018, for any reason other than (i) ArcTec’s failure to complete the date Final Plans and Specifications (as such term is defined in the Work Letter attached as EXHIBIT D) and submit such Final Plans and Specifications (and any other documentation required by the City of Sunnyvale for the issuance of a Certificate of Occupancy first is issued affecting building permit for the BuildingTenant Improvements) to Landlord’s general contractor by January 8, or 2018, (ii) the date on which Lessee first occupies or conducts business at City requiring Landlord to stop construction due to its commencement of the Premises (Tenant Improvements before the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), permits therefor were issued or (iii) for each day of delay delays caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act acts or omission by Lessee causes of Tenant, as defined in Paragraph 3(c) below, then the construction schedule for date Tenant Improvements is otherwise obliged to commence payment of Rent shall be delayed (collectively "Lessee Delay"), the Commencement Date shall occur by one (1) additional day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Delivery Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01delayed beyond such date., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 2 contracts
Sources: Lease Agreement (Silk Road Medical Inc), Lease Agreement (Silk Road Medical Inc)
Commencement Date. (a) The term of this Lease ("Lease Term") Scheduled Commencement Date shall be for twelve (12) years beginning only an estimate of the actual Commencement Date, and the Lease Term shall begin on the earlier first to occur of the following, which shall be the “Commencement Date”: (i) the date a Certificate Landlord offers to deliver possession of Occupancy first is issued affecting the BuildingPremises 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 on which Lessee first occupies or conducts 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 at days’ notice to Landlord) shall have the unilateral right to occupy those certain portions of the Premises (as applicable, instead of the "Commencement Date"entire Premises) provided that(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) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1not be deemed to have occurred until determined pursuant to Section 2.1(a) day in advance but such tenancy and occupancy by Tenant shall be subject to all terms and conditions of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, 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 July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, pro-rated on the date which completes twelve (12) years after a per square footage basis until the Commencement Date occurs.
(c) Reference is herein made to those certain improvements, e.g. if 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 of the Lease Reference Date is attached hereto as Exhibit E. Notwithstanding anything in this Lease to the contrary, in 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 otherwise due and owing under this Lease shall be $23,995.10 until the earlier of the date on which the Commencement Date occurs is July 1, 2001, Common Area Improvements are substantially completed or the Lease Term shall expire on June 30, 2013 remaining Common Area Improvements to be completed no longer directly and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification materially adversely impact Tenant’s use and enjoyment of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Premises., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 2 contracts
Sources: Office Lease (Arteris, Inc.), Office Lease (Arteris, Inc.)
Commencement Date. The term of this Lease ("“Lease Term"”) shall be for twelve (12) years beginning on the earlier of (i) the first date a Certificate of Occupancy first is issued affecting on which Lessee occupies or conducts business at the Building, Premises or (ii) the date on which Lessee first occupies or conducts business at a Certificate of Occupancy is issued affecting the Premises Building and the Seaport Boulevard improvements, the baseball and soccer fields and the amenities/athletic facility have been substantially completed (the "“Commencement Date"”) provided that, (iA) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (iiB) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iiiC) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (ivD) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed provided that Lessor gives Lessee written notice of such Lessee Delay within five (5) business days after its occurrence (collectively "“Lessee Delay"”), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July April 8, 2001 rather than July April 1, 2001, the Commencement Date shall be July April 1, 2001 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occursoccurs or is deemed to have occurred, e.g. if the date on which the Commencement Date occurs Certificate of Occupancy is July issued or deemed to be issued for the Building is April 1, 2001, the Lease Term shall expire on June 30March 31, 2013 and if the Commencement Date that date is July April 3, 2001, the Lease Term shall expire on July April 2, 2013 ("“Expiration Date"”). The parties shall execute a "“Memorandum of Commencement of Lease Term" ” when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "“E."”
Appears in 2 contracts
Sources: Sublease (PDL Biopharma, Inc.), Sublease (Biotech Spinco, Inc.)
Commencement Date. The term (a) Subject to the satisfaction of the conditions set forth in Sections 2.1 and 2.2, the “Commencement Date” shall be a Business Day specified by ▇▇▇▇ in a written notice to the Company given at least one (1) Business Day prior to such Commencement Date, which shall occur on or after the Effective Date and on or prior to February 28, 2012 or such later date as the Parties shall agree (the “Latest Commencement Date”).
(b) If the Commencement Date has not occurred on or before the Latest Commencement Date, this Agreement shall terminate on the first Business Day following the Latest Commencement Date. In such case, all obligations of the Parties hereunder shall terminate, except for the obligations set forth in Article 2, Article 20, Article 21 and Article 23 and any obligation under the last sentence of this Lease ("Lease Term") Section 2.3(b); provided, however, that nothing herein shall be relieve any Party from liability for twelve (12) years beginning the breach of any of its representations, warranties, covenants or agreements set forth in this Agreement. Without limiting the foregoing, if the failure of the Commencement Date to occur on or before the earlier of Latest Commencement Date is due to (i) any breach by the date a Certificate Company of Occupancy first is issued affecting the Buildingits obligations hereunder, including its obligations under clause (c) below or (ii) the date failure of any of the conditions contained in Section 2.1 to be satisfied on which Lessee first occupies or conducts business at before the Premises Latest Commencement Date for any reason whatsoever, then the Company shall be obligated to reimburse ▇▇▇▇ for any loss, costs and damages incurred or realized by ▇▇▇▇ as a result of its maintaining, terminating or obtaining any Related ▇▇▇▇▇▇.
(c) From and after the "Effective Date, the Company shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.1 to be satisfied on or prior to the Latest Commencement Date and ▇▇▇▇ shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.2 to be satisfied on or prior to the Latest Commencement Date".
(d) provided that, [Reserved.]
(ie) for each day of delay by Lessee The Company covenants and agrees to take (or cause its Affiliates to take) all actions necessary to cause any Crude Oil Linefill or Product Linefill included in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance Volumes to be transferred to ▇▇▇▇ on and effective as of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 2 contracts
Sources: Supply and Offtake Agreement, Supply and Offtake Agreement (Alon USA Energy, Inc.)
Commencement Date. The term Notwithstanding the Commencement Date set forth in Section 4 of this Lease the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows:
("Lease Term"1) For the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later of the date that the New First Floor Space is Ready for Occupancy or April 1, 2002. However, if the date that the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002, and such delay is solely as a result of Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002.
(2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, and such delay is solely as a result of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002.
(3) Lessor or Lessee shall not make any changes to Lessor’s Work during the course of construction without the other party’s prior written approval. Lessor shall be responsible for twelve (12) years beginning on paying any additional costs resulting from changes requested by Lessor unless Lessee’s approval is obtained in advance. Lessee shall have the earlier right to make changes to the Lessor’s Work, and will be responsible for the cost of (i) such changes, provided that any delay in the date the Premises are Ready for Occupancy as a Certificate result thereof shall not delay the commencement of Occupancy first Rentals and shall not extend rental abatement periods against the Lessor.
(4) For the Space Pocket, notwithstanding that it is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business to be completed at the Premises (same time as the "Commencement Date") provided thatNew Second Floor Space, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor Rental shall commence as provided in Section 2.04(d), or (iii40(b) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01below., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 2 contracts
Sources: Commercial Lease (HouseValues, Inc.), Commercial Lease (HouseValues, Inc.)
Commencement Date. The term “Commencement Date” for each of Premises A, Premises B and Premises C shall be the Scheduled Commencement Dates set forth in Section 1.1, Notwithstanding the foregoing, if Tenant’s personnel shall occupy all or any part of the Premises for the conduct of its business prior to the applicable Commencement Date as determined pursuant to the preceding sentence, such date of occupancy shall, for all purposes of this Lease ("Lease Term") shall Lease, be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance for Premises A, Premises B or Premises C as, applicable. Promptly upon the occurrence of the date of the Certificate of Occupancy for each such day of delay. For examplePremises B/C Commencement Date, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 landlord and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties Tenant shall execute and deliver a "Memorandum of Commencement of Lease Term" when letter designating the Commencement Date becomes knowncommencement dates for Premises A, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. Premises B and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be Premises C substantially in the form attached hereto as Exhibit "E."C, but the failure by either party to execute and deliver such a letter shall have no effect on the commencement dates, as hereinabove determined. Notwithstanding anything to the contrary contained herein, in the event Tenant is unable to obtain a building permit on or before July 15, 2006 for the Work (as defined in Exhibit E attached hereto) to be performed in Premises B and/or Premises C, and Tenant filed for such permit immediately following Landlord’s approval of the Working Drawings for such Work and exercised all reasonable and diligent efforts to obtain such permit, and as a result thereof the Work to be performed in Premises B and/or Premises C is not substantially completed prior to the Premises B/C Commencement Date specified in Section 1.1 above, then the Premises B/C Commencement Date shall be extended to the date that is the earliest of (i) the date on which such Work is substantially completed, (ii) the Premises B/C Commencement Date specified in Section 1.1 above plus the number of days in the period commencing on July 16, 2006 and ending on the date on which Tenant receives the building permit for such Work, and (iii) September 1, 2006.
Appears in 2 contracts
Sources: Lease (Enova International, Inc.), Lease Agreement (Enova International, Inc.)
Commencement Date. The term of this Lease ("Lease Term") Commencement Date shall be for twelve (12) years beginning on defined to mean the earlier earliest to occur of the following:
(i) the date a Certificate Tenant commences occupancy under this Lease of Occupancy first is issued affecting any portion of the Building, or Premises for the conduct of its business; or
(ii) the date on which Lessee first occupies Estimated Commencement Date specified in section C.4. of the Information Sheet. If for any reason Landlord does not or conducts business at cannot deliver possession of all or any portion of the Premises (to Tenant by the "Estimated Commencement Date") provided that, (i) for each day Landlord shall not be subject to any liability therefore, nor shall such failure affect the validity of delay by Lessee in failing to approve the interior schematic drawings this Lease or the Working Drawings when required under Section 2.04(d)obligations of Tenant hereunder, or provided that such delay does not exceed thirty (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (1430) days after delivery by from the General Contractor as provided Estimated Commencement Date, but in Section 2.04(dsuch case, Tenant shall not be obligated to pay any Monthly Rent hereunder, until the date that Landlord delivers possession of the entire Premises to Tenant (which date shall then be deemed the Commencement Date), . No such delay or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), adjustment in the Commencement Date shall occur one (1) day in advance alter the validity of this Lease or the nature or term of the obligations of Tenant hereunder, nor shall any such delay or adjustment cause the expiration date of this Lease to be later than July 12, 2014. If for any reason Landlord does not deliver possession of all or any portion of the Certificate Premises to Tenant for a period exceeding thirty (30) days from the Estimated Commencement Date, Tenant shall be entitled to terminate this Lease with respect to that portion of Occupancy for each the Premises not delivered, and its obligations under this Lease shall cease with respect to, such day portion of delaythe Premises. For exampleExcept as set forth in the Work Letter with respect to the hanging conference room wall, if seven Landlord fails to deliver at least ninety percent (790%) of the Premises by the Estimated Commencement Date, Tenant shall be entitled to terminate this Lease in its entirety. If Landlord fails to deliver the Premises in its entirety within ninety (90) days of Lessee Delay causes after the date of issuance of the Certificate of Occupancy to occur on July 8Estimated Commencement Date, 2001 rather than July 1, 2001, the Commencement Date Tenant shall be July 1, 2001 for all purposes, including payment of Base Rent. The entitled to terminate this Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01its entirety., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 2 contracts
Sources: Office Lease Agreement (Geron Corp), Office Lease Agreement (Geron Corp)
Commencement Date. The term of this Lease ("Lease Term") shall be ----------------- for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy (which means for purposes of this Lease, either a Certificate of Occupancy or its equivalent which allows legal occupancy and including, without limitation, a Notice of Substantial Completion) first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occursoccurs or is deemed to have occurred, e.g. if the date on which the Commencement Date occurs Certificate of Occupancy is issued or deemed to be issued for the Building is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date that date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."" Notwithstanding the foregoing, in no event shall Lessee Delay be used to advance the Commencement Date to a date earlier than the Scheduled Commencement Date.
Appears in 2 contracts
Sources: Triple Net Building Lease (At Home Corp), Triple Net Building Lease (At Home Corp)
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve TWELVE (12) years beginning MONTHS unless sooner terminated as hereinafter provided, commencing on the date which is the earlier of of:
(i) the date a Certificate of Occupancy first is issued affecting the Building, or (iia) the date on which Lessee the Premises are Substantially Complete (as hereinafter defined); or
(b) the date that Tenant opens for business in the Premises; (or, at Landlord’s election, upon the first day of the first full month following the earlier to occur of (a) or (b) above). The Premises shall be deemed to be “Substantially Complete” on the earliest of the date on which: (1) Landlord files or causes to be filed with the City of Pleasanton (the “City”), if required, and delivers to Tenant an architect’s notice of substantial completion, or similar written notice that the Premises are substantially complete, (2) Tenant first occupies all or conducts business at any portion of the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d)Premises, or (ii3) 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 each the Premises.
1.1.1 The date that the Lease commences in accordance with this Article 1 shall be referred to herein as the “Commencement Date”. If either of the events described in Paragraph 1.1(a) or (b) occurs on the first day of delay by Lessee in failing to approve the Budgeta month, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to date shall be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years this Lease.
1.1.2 On and after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001Date, the Lease shall continue in full force and effect for the period of time specified as the Term shall expire on June 30, 2013 and if or until this Lease is terminated as otherwise provided herein. As soon as the Commencement Date is July 3determined, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties Tenant shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially Memorandum in the form attached hereto as Exhibit "E."F acknowledging, among other things, the (a) Commencement Date, (b) scheduled termination date of this Lease and (c) Tenant’s acceptance of the Premises. The Tenant’s failure to execute the Commencement Date Memorandum shall not affect Tenant’s liability hereunder.
1.1.3 Reference in this Lease to a “Lease Year” shall mean each successive twelve month period commencing with the Commencement Date.
1.1.4 Landlord and Tenant estimate that the Commencement Date shall be September 15, 2006, but such estimate is not and shall not be deemed to be a representation or warranty by Landlord that Premises shall be ready for Tenant’s occupancy on such date.
Appears in 2 contracts
Sources: Office Lease (Rimini Street, Inc.), Office Lease (Rimini Street, Inc.)
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen ten (1410) business days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay, provided that, in no event shall Lessee Delay be used to advance the Commencement Date to a date earlier than September 1, 2001. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July September 8, 2001 rather than July September 1, 2001, the Commencement Date shall be July September 1, 2001 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years and six months after the Commencement Date occursoccurs or is deemed to have occurred, e.g. if the date on which the Commencement Date occurs Certificate of Occupancy is July issued or deemed to be issued for the Building is September 1, 2001, the Lease Term shall expire on June 30August 31, 2013 and if the Commencement Date that date is July September 3, 2001, the Lease Term shall expire on July September 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term Commencement Date (herein so-called) of this the Lease ("Lease Term") shall be the date of Substantial Completion of the Tenant Finish Out. The Target Date (herein so-called) for twelve (12) years beginning on Substantial Completion of the earlier Building and the Tenant Finish Out is ____________________. If Substantial Completion is delayed because of (ia) any acts or omissions of a Tenant, (b) changes requested by Tenant to any submitted Drawings that relate to matters other than changes necessary to conform such drawings to the date a Certificate of Occupancy first is issued affecting the BuildingPreliminary Drawings or to comply with Laws, or (iic) changes requested by Tenant in the approved Drawings other than changes necessary to conform such drawings with the Laws, then the Commencement Date shall not be extended, but rather shall occur on the date on which Lessee first occupies it would have occurred but for such act, omission, or conducts business at the Premises (the "Commencement Date") provided that, (i) for each event. Each day of delay in Substantial Completion caused by Lessee the acts, omissions, or events described in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(dclauses (a), (b) or (iic) for each day of delay the preceding sentence or by Lessee in failing to approve a Tenant is herein called a "Tenant Delay Day". If the Budgetactual date of Substantial Completion is delayed beyond the Target Date, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date then Landlord shall occur one (1) day in advance of have no liability therefor and the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date Substantial Completion shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described period of all Tenant Delay Days. This Lease shall remain in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01full effect notwithstanding any delay in Substantial Completion., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Purchase and Sale Agreement (Home Interiors & Gifts Inc)
Commencement Date. The term of this Lease ("Lease Term"a) shall be for twelve (12) years beginning on Notwithstanding the earlier of (i) the February 1, 1997 date a Certificate of Occupancy first is issued affecting the Buildingspecified in Section 1.1(i), or (ii) the date on which Lessee first occupies or conducts business at the Premises (above, the "Commencement Date") provided that" of this Lease shall be the date upon which Landlord delivers the Completion Notice to Tenant (as set forth in paragraph 10 of Exhibit C hereto). Notwithstanding anything to the contrary herein, (i) for each day in the event the Commencement Date has not occurred on or before February 15, 1997 (other than as a result of delay by Lessee any "Tenant Delay", as such term is defined in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(dExhibit C hereto), or the parties mutually agree that the Term of this Lease shall expire on February 15, 2003, regardless of when the Commencement Date occurs (in other words, the Term of the Lease shall be shorter than seventy-two (72) full months if the Commencement Date occurs after February 15, 1997 other than as a result of any Tenant Delay), (ii) for each day of delay by Lessee in failing the event the date upon which Landlord delivers the Completion Notice to approve the Budget, in writing, within fourteen Tenant is delayed more than fifteen (1415) days after delivery by the General Contractor as provided in Section 2.04(d)due to any Tenant Delay, or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), then the Commencement Date of this Lease shall occur one (1) day in advance be February 15, 1997 irrespective of the date whether construction of the Certificate of Occupancy for each such day of delayLandlord's Work has been completed by February 15, 1997. For exampleThe foregoing notwithstanding, if seven (7) days a combination of Lessee Tenant Delay and delay occurring other than as a result of Tenant Delay causes the date upon which construction of issuance of the Certificate of Occupancy Landlord's Work is completed to occur on July 8extend past February 15, 2001 rather than July 11997, 2001, then the Commencement Date shall be July 1adjusted to be that date upon which Landlord's Work would have been completed but for such Tenant Delay (but only to the extent such Tenant Delay exceeded fifteen (15) days), 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, and the Lease Term shall expire on June 30, 2013 and if the earlier of (1) that date which is seventy-two (72) full months after the Commencement Date or (2) that date which is July 3calculated by measuring seventy-two (72) full months after the date Landlord's Work would have been completed but for such Tenant Delay (but not later than February 15, 20011997), plus the total number of days of Tenant Delay which occurred. For purposes of illustrating the foregoing provision only, and not by way of limitation, (A) if there were twenty (20) days of Tenant Delay and completion of Landlord's Work and delivery of the Completion Notice was achieved on February 28, 1997, then the Lease Commencement Date shall be deemed to be February 23, 1997, and the expiration of the Lease Term shall expire be February 22, 2003, (B) if there were ten (10) days of Tenant Delay and completion of Landlord's Work and delivery of the Completion Notice was achieved on July 2February 28, 2013 1997, then the Lease Commencement Date shall be February 28, 1997, and the expiration of the Lease Term shall occur on February 24, 2003, ("Expiration Date"). The parties C) if there were ten (10) days of Tenant Delay and completion of Landlord's Work and delivery of the Completion Notice was achieved on February 20, 1997, then the Lease Commencement Date shall execute a "Memorandum be February 20, 1997, and the expiration of the Lease Term shall occur on February 19, 2003, and (D) if there was no Tenant Delay and completion of Landlord's Work and delivery of the Completion Notice was achieved on February 28, 1997, then the Lease Commencement Date shall be February 28, 1997, and the expiration of the Lease Term" when Term shall occur on February 15, 2003.
(b) Any entry and/or occupancy of the Premises by Tenant, its agents, employees or contractors prior to the Commencement Date becomes knownshall be at Tenant's sole risk, which shall include a certification and deemed pursuant to, and subject to, all of the actual Rentable Area terms and provisions of this Lease; provided, however, in no event shall Tenant, its agents, employees or contractors be entitled to enter the Building determined by Premises or take occupancy thereof prior to the methodology described date it receives Landlord's notice that the same are Ready for Occupancy except for the "Early Work", as set forth in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Exhibit C hereto., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Lease (Creditrust Corp)
Commencement Date. The Scheduled Commencement Date shall be an estimate of the actual commencement Date, and the term of this Lease ("Lease Term") shall begin on the first to occur of the following, which shall be for twelve (12) years beginning on the earlier of "Commencement Date": (i) the date a Certificate Landlord offers to deliver possession of Occupancy first the Premises to Tenant following substantial completion of al improvements to be constructed by Landlord pursuant to 2.3 except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Use and such work as Landlord is issued affecting the Building, required to perform but cannot complete until Tenant performs necessary portions of construction work it has elected or is required to do; or (ii) the date on which Lessee first occupies or conducts business at Tenant enters into occupancy of the Premises Premises. Notwithstanding the foregoing, if the date described in the foregoing item (i) (the "Commencement Delivery Date") provided thatis delayed as a result of any Tenant Delay, (i) for each day of delay by Lessee in failing to approve defined below, then the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Delivery Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if deemed to be the date on which the Commencement Delivery Date occurs is July 1would have occurred but for such Tenant Delay, 2001as reasonably determined by Landlord. The term "Tenant Delay" shall mean any delay in the completion of construction fo improvements by Landlord pursuant to 2.3 caused by any action or omission of Tenant, or Tenant's employees, agents, contractors, including without limitation, the Lease Term shall expire on June 30following: (i) Tenant's failure to furnish information to Landlord for the preparation of plans and drawings for such construction; (ii) Tenant's request for special materials, 2013 finishes or installations which are not readily available, (iii) Tenant's failure to reasonably approve plans and if working drawings in accordance with the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 terms of Exhibit B and Exhibit C; ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid iv) Tenant's change requests pursuant to Section 4.01Exhibit B and Exhibit C; and (v) interference with Landlord's work caused by Tenant or Tenant's employees, agents or contractors., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. Tenant shall have and hold the same Premises, without any liability or obligation on the part of Landlord to make any alterations, improvements or repairs of any kind in or about the Premises, except as expressly provided herein, for the Term set forth on the Data Sheet, unless sooner terminated in the manner provided herein. The term Term hereof shall commence on the Commencement Date. The "Targeted Delivery Date" is January 1, 1998. For purposes hereof, the Delivery Date shall be the date that Tenant, if Tenant elects to construct its tenant improvements ("Tenant Work"), is provided access to the Premises for purposes of commencing Tenant Work. The Delivery Date shall not occur until the Premises are in substantial compliance with the minimum shell requirement conditions more particularly set forth on Exhibit "H" attached hereto. If Landlord is unable to give possession of the Premises on the Targeted Delivery Date because the construction of the Facility or the completion of Landlord's Improvements in the Premises has not been sufficiently completed to comply with the terms of Exhibit "H", or for any reason, Landlord shall not be subject to any claims, damages or liabilities for the failure to give possession on said date (except as specifically set forth below) provided, however in the event the Delivery Date does not occur on or before February 15, 1998, Tenant shall, upon notice to Landlord given on or before February 25, 1998, terminate this Lease effective upon Landlord's receipt of the Notice unless the Delivery Date occurs prior to the tolling of said notice period, in which event the Lease shall remain in full force and effect. In the event that prior to February 15, 1998 Landlord notifies Tenant of a delay in the Delivery Date beyond February 15, 1998 and sets forth a revised specific Delivery Date ("Lease TermRevised Date"), Tenant within ten (10) days of the date of said notice may (i) terminate the Lease, or (ii) accept said Revised Date as the new Delivery Date as if said Revised Date were the date originally set forth as the Delivery Date. In the event Tenant terminates the Lease, Landlord shall not be liable for damages or subject to claims or liabilities, however, if (i) the delay was the result of reasons beyond the reasonable control of Landlord ("Force Majeure"), in such event Landlord shall be responsible for the Holdover Penalties (as defined below) suffered by Tenant through (x) the date the Tenant occupies a new premises, (y) the date Tenant renews its Lease in its existing premises, or (z) the date twelve (12) years beginning on weeks after the actual Delivery Date of the Premises, whichever is earlier, or (ii) in the event the delay was not the result of Force Majeure, Landlord shall be responsible for payment of the Holdover Penalty through the earlier to occur of (x) or (y) above. In the event Tenant selects Landlord's contractor to perform the Tenant Work, the Commencement Date shall be April 1, 1998, provided the Premises are substantially completed on or before April 1, 1998 and Landlord obtains a certificate of occupancy (whether full or partial, permanent or temporary) for the Premises on or before April 1, 1998. Substantial completion of the Premises shall be evidenced by the issuance of a certificate of occupancy (whether full or partial, temporary or permanent) for the Premises. If Landlord's contractor performs Tenant's Work, the rent reserved and covenant to pay same shall not commence until the later of (i) the date a Certificate of Occupancy first is issued affecting the BuildingApril 1, 1998, or (ii) the date on which Lessee first occupies or conducts business at Commencement Date, even if occupancy of the Premises (is delivered prior to April 1, 1998. If Tenant selects a contractor other than Landlord's contractor to perform Tenant Work, the "Rent reserved and covenant to pay same shall commence on April 1, 1998 unless the Delivery Date has not occurred on or before January 1, 1998, in which event the Commencement Date") provided that, Date shall be the later of (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d)April 1, 1998, or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after weeks from the Commencement Date occursDelivery Date. Tenant shall have the right to occupy the Premises on March 1, e.g. if 1997 without payment of Rent other than utility costs. In the date event (i) Landlord fails to deliver possession of the Premises for commencement of Tenant Work on which or before the Commencement Date occurs Targeted Delivery Date, or Revised Date, or (ii) Landlord's contractor is performing the Tenant Work and the Premises are not substantially completed and ready for occupancy by Tenant on or before April 1, 1998 and the delay is not due to the action or inaction of Tenant, Landlord shall not be liable for damages or subject to any claims or liabilities however Landlord agrees to reimburse to Tenant all costs directly resulting solely from either Landlord's failure to deliver possession of the Premises to Tenant on or before January 1, 1998, or Landlord's failure to deliver occupancy of the Premises by April 1, 1998 including but not limited to the amount of Tenant's rent and other lease charges in excess of the amounts due from Tenant under its existing lease immediately prior to April 1, 1998 ("Holdover Penalty"). Failure to give possession of the Premises on or before April 1, 1998 shall in no way affect the validity of this Lease or the obligations of Tenant hereunder. In the event that there is no Revised Date, Landlord's contractor is performing the improvements and Landlord is unable to deliver occupancy of the Premises to Tenant on or before July 1, 20011998, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and Tenant's sole remedy shall be substantially the Holdover Penalty set forth hereinabove plus termination of this Lease upon five (5) days written notice to Landlord given on or before July 5, 1998. Landlord's obligation to pay Holdover Penalties shall terminate on the earliest date that Tenant could move into replacement premises or executes an amended lease in its present premises. Whenever in this Lease Landlord is obligated to pay a Holdover Penalty, Tenant agrees it shall use all reasonable efforts to minimize the form attached hereto as Exhibit "E."amount of Holdover Penalty and to expeditiously enter into a new lease or renew its existing lease so that the damages to Landlord are mitigated.
Appears in 1 contract
Commencement Date. The term Commencement Date shall be the date provided in Item 5 of the Basic Lease Provisions. If this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at executed before the Premises (become vacant or otherwise available or if any present tenant or occupant of the "Premises holds over, and Landlord cannot acquire possession of the Premises in time to deliver them by the Commencement Date") , this Lease shall not be void or voidable, and Landlord shall not be deemed to be in default hereunder, nor shall Landlord be liable for any loss or damage directly or indirectly arising out of or resulting from such holdover, provided that, that in the event that the actual date of commencement is more than sixty (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (1460) days after delivery by the General Contractor as date provided in Section 2.04(dItem 5 of the Basic Lease Provisions (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), or (iii) for each day of delay caused by any changes Tenant shall be entitled, as its sole and exclusive remedy, to the approved Working Drawings requested by Lessee, or (iv) a rent credit equal to one day's Base Rent for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur is delayed beyond such sixty (60) day period. In the event that the actual date of commencement is more than one (1) day year after the date that this Lease is fully executed (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant shall be entitled, as its sole and exclusive remedy, to terminate this Lease upon written notice to Landlord given within thirty (30) days after the expiration of such one (1) year period (but in advance any event prior to the date that Landlord delivers possession of the date Premises with Landlord's Work substantially complete). Except as set forth herein, Tenant agrees to accept possession of the Certificate Premises at such time as Landlord is able to tender the same, which date shall thenceforth be deemed the Commencement Date. After the Commencement Date, Tenant shall, upon demand, execute and deliver to Landlord a letter of Occupancy for each such day acceptance of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance delivery of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, Premises specifying the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base RentDate. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date")1.4. The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification Condition of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Premises; Commencement Date., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Standard Industrial Lease Agreement
Commencement Date. The term "Commencement Date" of this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (ia) the date a Certificate of Occupancy first is issued affecting Lessee commences business operations in the BuildingPremises, or (iib) the date on which Lessee first occupies or conducts business at 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 the Contractor completes the Lessor's Work pursuant to the Working Drawings, minor punch-list and decorative items excepted, and Lessor receives a temporary certificate of occupancy (or its equivalent) issued by the "City of Santa Fe Springs permitting occupancy of the Premises. The parties estimate that Lessor's Work will be substantially completed and the Commencement Date"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) provided thatshall be the extension of the Commencement Date until the earlier of the two dates set forth in Paragraphs 3(a) and (b) above. Notwithstanding the foregoing provisions of this Paragraph 3 to the contrary, (i) for each day to the extent Lessor is delayed in delivering possession of delay the Premises to Lessee with Lessor's Work substantially completed as a result of any delays caused by the acts, changes or omissions of Lessee or Lessee's agents, architects, engineers, contractors or employees or any improvements, fixtures, furniture or equipment constructed or installed by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee DelayTenant Delays"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, then the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on accelerated to the date which completes twelve (12) years after the Commencement Date occurswould have occurred but for such Tenant Delays; provided, e.g. if however, that no Tenant Delay shall be deemed to occur unless and until Lessor has provided notice to Lessee (the date on "Delay Notice") specifying the action or inaction by Lessee which Lessor contends constitutes the Commencement Date occurs Tenant Delay. If such action or inaction is July not cured by Lessee within one (1, 2001, ) business day of receipt of such Delay Notice (the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration DateGrace Period"). The parties , then a Tenant Delay, as set forth in such Delay Notice, shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification be deemed to have occurred commencing as of the actual Rentable Area expiration of the Building determined by Grace Period; provided that Lessee shall only be permitted an aggregate of three (3) days of Grace Period and, thereafter, a Tenant Delay shall commence upon delivery of the methodology described in Section 2.01. and the actual monthly installments of Base Rent Delay Notice to be paid pursuant to Section 4.01Lessee., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Standard Industrial/Commercial Multi Tenant Lease (Graham Field Health Products Inc)
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve (12) years beginning commence on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee specified in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d1(b), or on such earlier or later date as may be specified by written notice delivered by Landlord to Tenant advising Tenant that the Premises are ready for possession and specifying the Commencement Date, which shall not be less than _____ (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (1430 if not completed) days after delivery by following the General Contractor as provided in Section 2.04(d), or (iii) for each day date of delay caused by any changes to such notice. If Tenant occupies the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), Premises before the Commencement Date shall occur one (1) day specified in advance of the date of the Certificate of Occupancy for each such day of delay. For exampleSection 1(b), if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, then the Commencement Date shall be July 1the date of occupancy. If Landlord acts diligently to make the Premises available to Tenant, 2001 neither Landlord nor any agent or employee of Landlord shall be liable for all purposes, including payment any damage or loss due to Landlord's inability or failure to deliver possession of Base Rentthe Premises to Tenant as provided in this Lease EXCEPT IF SUCH FAILURE RESULTS FROM LANDLORD'S NEGLIGENCE. The Termination Date shall be modified upon any change in the Commencement Date so that the length of the Lease Term term is not changed. If Landlord does not deliver possession of the Premises to Tenant within THIRTY (30) days (60 if not completed) after the date specified in Section 1(b), Tenant may elect to cancel this Lease by giving written notice to Landlord within 30 days after such time period ends. If Tenant gives such notice, the Lease shall expirebe canceled, unless sooner terminated or extended as provided hereinall prepaid rent and security deposits shall be refunded to tenant, and neither Landlord nor Tenant shall have any further obligations to the other. The first "Lease Year" shall commence on the Commencement Date and shall end on the date which completes is twelve (12) years after months from the end of the month in which the Commencement Date occurs. Each successive Lease Year during the initial term and any LEASE AGREEMENT (SINGLE TENANT FOR ENTIRE PARCEL - TRIPLE NET) (CONTINUED) extension terms shall be twelve (12) months, e.g. if commencing on the date on which first day following the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification end of the actual Rentable Area of preceding Lease Year, except that the Building determined by last Lease Year shall end on the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Termination Date., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease Term"a) shall be for twelve (12) years beginning on “Commencement Date” means the earlier later of (i) the date a Certificate first to occur of Occupancy first is issued affecting the Building, or Tranche A Commencement Date and the Tranche B Commencement Date and (ii) January 1, 2006. “Tranche A Commencement Date” means the earlier of (A) the date on which Lessee Landlord’s Work in respect of the Tranche A Space has been Substantially Completed in accordance with Exhibit E annexed hereto and (B) the date Tenant first occupies or conducts business at takes occupancy of any material portion of the Premises (Tranche A Space for the "conduct of business. “Tranche B Commencement Date"” means the earlier of (A) provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which Landlord’s Work in respect of the Tranche B Space has been Substantially Completed in accordance with Exhibit E annexed hereto and (B) the date Tenant first takes occupancy of any material portion of the Tranche B Space for the conduct of business. After the occurrence of each of the Tranche A Commencement Date occurs is July 1and Tranche B Commencement Date, 2001upon request of either party, Landlord and Tenant shall promptly confirm by a separate instrument such date, the Lease Term shall expire on June 30, 2013 and if the Tranche A Rent Commencement Date is July 3or the Tranche B Rent Commencement Date, 2001as applicable, and the Lease Term shall expire on July 2, 2013 ("Expiration Date"); provided, that the failure to execute and deliver such instrument shall not affect the determination of such dates in accordance with this Article 1. The parties Pending the resolution of any dispute as to any of such dates, Tenant shall execute a "Memorandum pay Rent based upon Landlord’s determination. Any dispute as to any of Commencement of Lease Term" when the Commencement Date becomes known, which such dates shall include a certification of the actual Rentable Area of the Building be determined by arbitration in accordance with the methodology described in provisions of Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.018.09., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Lease (Bowne & Co Inc)
Commencement Date. (A) The term of this Lease ("Lease Term") shall be for twelve (12) years beginning commence on the earlier later to occur of (ix) the date a Certificate of Occupancy first is issued affecting the BuildingOctober 1, or 2022 and (iiy) the date on which Lessee first occupies or conducts business at 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 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) provided thathereof, (i) for each day of delay by Lessee in failing Tenant shall have no right to approve terminate or rescind this Lease or reduce the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the BudgetRental, in writingeach case deriving from Landlord's failure to deliver vacant and exclusive possession of the Premises to Tenant on or prior to October 1, within fourteen 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.
(14B) days after delivery by The term "Pre-Delivery Work Substantial Completion Date" shall mean the General Contractor 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 2.04(d7.3 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 "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 (iii) for each day of delay caused by any changes 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 Working Drawings requested 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 Lessee, or Landlord and/or billed by the Work Contractor pursuant to the terms and conditions of the Acceptable Construction Contract (iv) for each day that any other act or omission by Lessee causes herein called the construction schedule for Tenant Improvements to be delayed (collectively "Lessee DelayWork 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 Date, and in no event shall occur one the incorporation of any Change Orders into the Initial Alterations (1) day in advance or the applicable portion thereof that is within the scope of the date of Acceptable Construction Contract) require Landlord to fund more than the Certificate of Occupancy for each such day of delay. For example, if seven Landlord Work Costs Contribution.
(73) days of Lessee Delay causes Landlord shall cause the date of issuance of Work Contractor to commence the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on Initial Alterations with reasonable promptness following the date which completes twelve is the later to occur of (12x) years after the Commencement Date occurs, e.g. if 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 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 date on which Landlord has paid to the Work Contractor an aggregate amount equal to the Landlord Work Costs Contribution and (b) the Commencement Date occurs is July 1or (y) the date, 2001if any, that Tenant requests that Landlord assign the Lease Term shall expire on June 30Acceptable Construction Contract to Tenant, 2013 Landlord hereby assigns the Acceptable Construction Contract to Tenant and if Tenant hereby assumes all obligations of Landlord thereunder (the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Lease (Clear Secure, Inc.)
Commencement Date. The term of this Lease ("Lease Term") shall be ----------------- for twelve (12) years beginning on the earlier of (i) the first date a Certificate of Occupancy first is issued affecting on which Lessee occupies or conducts business at the Building, Premises or (ii) the date on which Lessee first occupies or conducts business at a Certificate of Occupancy is issued affecting the Premises Building and the Seaport Boulevard improvements, the baseball and soccer fields and the amenities/athletic facility have been substantially completed (the "Commencement Date") provided that, (iA) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (iiB) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iiiC) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (ivD) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed provided that Lessor gives Lessee written notice of such Lessee Delay within five (5) business days after its occurrence (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July April 8, 2001 rather than July April 1, 2001, the Commencement Date shall be July April 1, 2001 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occursoccurs or is deemed to have occurred, e.g. if the date on which the Commencement Date occurs Certificate of Occupancy is July issued or deemed to be issued for the Building is April 1, 2001, the Lease Term shall expire on June 30March 31, 2013 and if the Commencement Date that date is July April 3, 2001, the Lease Term shall expire on July April 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve ----------------- eleven (1211) years beginning on the earlier of (i) the date a Certificate of Occupancy (which means for purposes of this Lease, either a Certificate of Occupancy or its equivalent which allows legal occupancy and including, without limitation, a Notice of Substantial Completion) first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises and the Seaport Boulevard improvements, the baseball and soccer fields have been substantially completed (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed provided that Lessor gives Lessee written notice of such Lessee Delay within five (5) business days after its occurrence (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July August 8, 2001 rather than July August 1, 2001, the Commencement Date shall be July August 1, 2001 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve eleven (1211) years after the Commencement Date occursoccurs or is deemed to have occurred, e.g. if the date on which the Commencement Date occurs Certificate of Occupancy is July issued or deemed to be issued for the Building is August 1, 2001, the Lease Term shall expire on June 30July 31, 2013 2012 and if the Commencement Date that date is July August 3, 2001, the Lease Term shall expire on July August 2, 2013 2012 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification by Lessor's architect of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term Initial Term shall commence on the ----------------- earlier of this Lease the following two dates to occur ("Lease TermCommencement Date") shall be for twelve (12) years beginning on the earlier of ): (i) the date a Certificate of Occupancy first is issued affecting the BuildingNovember 1, 1994; or (ii) one (1) month after the date of substantial completion of the Tenant Improvements and issuance of a certificate of occupancy as to the Premises (during which one month period Tenant may occupy the Premises for the conducting of its business upon otherwise complying with the insurance requirements of this Lease without incurring any obligation to pay Basic Rent or additional rent other than any utilities consumed by Tenant during such period). For purposes of this Lease, the Tenant Improvements (or any other construction work hereunder) shall be deemed to have been substantially completed as of the date on which Lessee first occupies Tenant's architect or conducts business at engineer issues a certificate to Landlord and Tenant stating that the Premises Tenant Improvements (or such other construction work) have been completed in accordance with the "Final Tenant Plans (or such other applicable plans) or, if applicable, the date the Tenant Improvements (or such other construction work) would have been substantially complete but for Tenant Delay. The outside calendar date provided for the Commencement Date"Date of the Initial Term (or for the commencement of rental obligations with respect to any additional space pursuant to paragraphs 1(c) provided that, (ior 1(d) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(dhereof), or (ii) shall be extended for each day any delays in the construction of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay applicable tenant's alterations and improvements caused by any changes to the approved Working Drawings requested by Lessee, or Landlord Delay (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"as defined in paragraph 46(c), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification Upon determination of the actual Rentable Area of Commencement Date, the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and parties shall be substantially sign a commencement date memorandum in the form attached hereto as Exhibit "E."B, which shall become a part of --------- this Lease. However, Tenant's failure to execute the commencement date memorandum shall not affect the actual Commencement Date or expiration date of this Lease. If the Commencement Date occurs on the first day of a calendar month, then the Initial Term shall be five (5) years. If the Commencement Date occurs on any day other than the first day of a calendar month, then the Initial Term shall be the period from the Commencement Date to the first day of the first full calendar month thereafter, plus the following sixty (60) full calendar months.
Appears in 1 contract
Sources: Lease Agreement (Megabios Corp)
Commencement Date. 2.4.1 The Commencement Date shall be the date set forth in the definition of that term in Section 1 hereof. Tenant acknowledges that the Premises shall be delivered in the condition required herein and that no representations or warranties as to the condition of the Premises have been made by Landlord. The taking of possession by Tenant shall establish that the Premises are in good and satisfactory condition when possession was so taken and the Commencement Date shall occur as provided in the definition of that term in Section 1 hereof. In no event shall Tenant’s refusal or failure to take possession of the Premises delay or postpone the occurrence of the Commencement Date.
2.4.2 Notwithstanding the foregoing, if the Tenant Improvements are not Substantially Completed by the Completion Termination Date (as hereinafter defined), Tenant may terminate this Lease ("Lease Term") shall be for twelve (12) years beginning on by delivering to Landlord written notice thereof at any time before the earlier of (i1) ten (10) days following the date a Certificate of Occupancy first is issued affecting the Building, Completion Termination Date or (ii2) the date on which Lessee first occupies or conducts business at the Premises Tenant Improvements are Substantially Completed. The termination right afforded to Tenant under this Section 2.4.2 shall be Tenant’s sole remedy for Landlord’s failure to timely Substantially Complete the Tenant Improvements. Time is of the essence for the delivery of Tenant’s termination notice under this Section 2.4.2; accordingly, if Tenant fails to timely deliver such notice, then Tenant’s right to terminate this Lease under this Section 2.4.2 shall expire. As used herein, “Completion Termination Date” means the date that is one hundred (100) days plus the "Commencement number of Tenant Delay Days plus the number of Force Majeure Delay Days (as hereinafter defined) after the Estimated Delivery Date") provided that. As used herein, (i) for “Force Majeure Delay Days” means each day of delay by Lessee in failing to approve achieving Substantial Completion of the interior schematic drawings or Tenant Improvements for the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided reasons specified in Section 2.04(d), or (iii) for each day 6.8 of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01this Lease., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease Term") Commencement Date shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at Landlord delivers the Premises (to Tenant with Landlord’s Work and Tenant’s Work Substantially Complete, as such terms are hereinafter defined. Landlord shall use diligent efforts to cause the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing Date to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes occur prior to the approved Working Drawings requested by LesseeDelivery Date; provided, or (iv) for each day however, that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur be no earlier than July 1, 2023. If the Commencement Date has not occurred by the Delivery Date for reasons other than Force Majeure or Tenant Delay (as such terms are hereinafter defined), then for each of the first thirty (30) days of any such failure Tenant shall be entitled to a one (1) day delay in advance the Rent Commencement Date and for each subsequent day of any such failure Tenant shall be entitled to a two (2) day delay of the Rent Commencement Date; and if Landlord shall fail to deliver the Premises to Tenant by February 28, 2024 (i.e., 180 days after the Delivery Date) for reasons other than Force Majeure or Tenant Delay then, in addition to the delays in the Rent Commencement Date described above, Tenant shall have the right to terminate this Lease by giving notice to Landlord not later than sixty (60) days after the expiration of such one hundred eighty (180) day period; and this Lease shall cease and come to an end without further liability or obligation on the part of either party ten (10) days after the giving of such notice, it being agreed that time is of the essence with respect to the giving of such notice. In addition, if Landlord shall fail to deliver the Premises to Tenant by the Delivery Date with Landlord’s Work and Tenant’s Work Substantially Complete (“Landlord’s Late Delivery”) for reasons other than Force Majeure or Tenant Delay, Landlord shall (a) reimburse Tenant for all amounts paid by Tenant as holdover rent over and above the sum of base or fixed rent plus additional rent that was due immediately prior to any such holdover over (“Hold Over Rent”) under T▇▇▇▇▇’s existing lease (the “Existing Lease”) at 8▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇; such payments shall be made to Tenant within thirty (30) days following request for reimbursement therefore, given together with reasonable supporting documentation, and (b) Landlord shall indemnify, defend, protect, and hold harmless Tenant and the Tenant Parties from and against any and all loss, cost, damage, expense and liability (including, without limitation, court costs and reasonable attorneys’ fees) incurred in connection with or arising from such holdover under the Existing Lease and save and hold other tenants, agents, employees, patients, visitors, invitees or licensees harmless against any damages, liability, claims, causes of action or judgments arising therefrom; provided, however, that L▇▇▇▇▇▇▇’s reimbursement obligations under this clause (b) shall not exceed $1,800,000.00. Landlord hereby acknowledges that the Hold Over Rent due under the Existing Lease is due on a monthly basis and, accordingly, if there is a Landlord’s Late Delivery of the Premises the Hold Over Rent will not be prorated for a partial month, but shall be due for one or more months in their entirety. Upon receipt of notice from Landlord notifying Tenant of Landlord’s Late Delivery, Tenant shall use reasonable efforts, at Landlord’s sole cost and expense, to mitigate its damages under its Existing Lease including, without limitation, using commercially reasonable efforts to extend the term of the Existing Lease in order to avoid being liable for Hold Over Rent and/or requesting that the Hold Over Rent due under the Existing Lease be prorated on a daily basis, and Landlord shall pay (i) the out-of-pocket cost of such efforts made by Tenant and (ii) all payments, rent and additional rent for and during such extension term of the Existing Lease as set forth in this Section 3.1. Tenant hereby represents that current termination date of the Certificate of Occupancy for each such day of delay. For exampleExisting Lease is December 31, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire2023 and, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1on or before December 31, 20012023, the Lease Term Tenant shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification not agree to an earlier expiration or termination of the actual Rentable Area term of the Building determined by Existing Lease. Tenant’s right to a postponement of the methodology described in Section 2.01. Rent Commencement Date, reimbursement of its holdover penalties and the actual monthly installments of Base Rent to be paid Tenant’s termination right pursuant to this Section 4.01., and 3.1 shall be substantially Tenant’s sole and exclusive remedy at law or in equity for Landlord’s failure to Substantially Complete Landlord’s Work and Tenant’s Work and deliver the form attached hereto Premises to Tenant as Exhibit "E."required herein.
Appears in 1 contract
Commencement Date. The term June – September: This subsection (i) shall only apply if the Commencement Date of this Lease ("Lease Term"as set forth in Section 1) shall be for twelve (12) years beginning on occurs within the earlier month of (i) the date a Certificate of Occupancy first is issued affecting the BuildingJune, July, August, or September.
(iia) Tenant may renew the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) Term for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) additional term commencing on the day after the Expiration Date and ending 12 months later provided Tenant timely complies with the requirements of this section. No later than September 15, either: (I) T enant shall send written notice to Lessor electing to renew the Term; or (II) Tenant shall send written notice to Lessor waiving Tenant’s right to ren ew the Term and upon such election Tenant shall have no further rights to renew this Lease. If Tenant fails to deliver notice of renewal or non -renewal, Tenant will be deemed to have elected NOT to renew the Term.
(b) If Tenant timely elects to renew the Term pursuant to Section 1, Lessor shall send Tenant a new rental agreement for the Premises with reasonable terms designated by Lessor in advance its discretion for a renewal term to commence on the day following the Expiration Date (a “Renewal Lease”). If Tenant does not deliver timely notice of renewal to Lessor, a Renewal Lease may be provided by Lessor pr ovided that Lessor shall have no obligation to provide such Renewal Lease. No later than October 15, ▇▇▇▇▇▇ shall return the original signed Renewal Lease to Lessor, which must be signed by all Tenants identified within this Lease. If ▇▇▇▇▇▇ does not return the Renewal Lease by the deadline set f ▇▇▇▇ in this subsection, or the Renewal Lease is not signed by all Tenants, all Tenants will be deemed to have refused to sign the Renewal Lease and the Term will end on the Expiration Date.
(c) If more than one Tenant occupies the Premises and one or more, but not all Tenants, return the signed Renewal L ease, the renewal will not be enforceable until all non-renewing Tenants also deliver written notice to Lessor agreeing to vacate the Premises at the end of the then-current Term, together with a written waiver of their right to renew the Term. If some, but not all, Tenants timely renew the Term and sign the Renewal Lease, the renewing Tenants shall be solely responsible for the rental and deposits due and owing under the Renewal Lease even if such obligation results in the renewing Tenants paying more during the renewal term than their fractional share of such costs unde r this Lease.
(d) If Tenant refuses, or is deemed to have refused, to sign the Renewal Lease, or otherwise is deemed to have not r enewed the Term, Tenant acknowledges and agrees that: (A) Lessor may immediately offer the Premises to new prospective tenant(s) for a t erm to commence the day following the Expiration Date; (B) Lessor may enter into new lease agreements on terms acceptable to Lessor that may diff er from the terms offered in the Renewal Lease; (C) Lessor shall be authorized to enter the Premises for the purposes of showing the Premises to prospective tenants and purchasers provided Lessor has given Tenant written notice no later than the evening before the day of such entry; and (D) Te nant will vacate and surrender possession of the Premises to Lessor on the Expiration Date. If one or more, but not all, Tenants renews the Lease, Lessor shall have no obligation to market the Premises to new prospective tenants for the purpose of replacing any non -renewing Tenants.
(e) This subsection shall apply only if Tenant timely and properly renews the Term. The Renewal Lease is an extensio n of, and amendment to, this Lease, and does not replace this Lease. Notwithstanding the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance execution of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001Renewal Lease, the Commencement te rms of this Lease shall control until the day following the Expiration Date of this Lease, and on the day following the Expiration Date of this Lease , the Renewal Lease shall control. Any default of this Lease shall also be a default of the Renewal Lease. In the event of a termination of this Lease, whether as a result of a default by Tenant or otherwise, the Renewal Lease shall be July 1, 2001 for all purposes, including payment terminated of Base Rent. The Lease Term shall expire, unless sooner terminated even date and of no force or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01effect., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Lease Contract
Commencement Date. The term Notwithstanding any other provision of this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the BuildingLease, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date"" shall be the earliest date on which a, b, and c of the following events shall have occurred, but in no event later than August 1, 2000:
(a) provided Landlord shall have substantially completed the Tenant Improvement work in accordance with the provisions of the Lease, it being agreed that the Tenant Improvement work shall be substantially completed when Tenant's Architect certifies in writing to Landlord and Tenant that, in Tenant's Architect's good faith professional judgment, the Tenant Improvement work is completed except for minor punchlist-type items of a nature that such items can be promptly completed with only minor inconvenience to Tenant.
(ib) A temporary certificate of occupancy for the Premises (and all other governmental permits, approvals and certificates, if any, required by applicable law, excluding, however, any business licenses necessary for Tenant to operate its business, which licenses Tenant shall be obligated to obtain) sufficient to permit Tenant to gain access to the Premises and to possess and lawfully use the Premises for the purpose described in the Lease, shall have been issued and shall be in full force and effect; and
(c) Landlord shall have tendered possession of the Premises to Tenant cleaned, free of debris and suitable for occupancy.
(d) Tenant understands that for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each and every day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall does not occur one as a result of a Tenant Delay (1) day as defined in advance of the date of the Certificate of Occupancy for each such day of paragraph 10 above), and/or Force Majeure delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July moved forward by one (1) day with no penalty to Landlord; however, 2001 Tenant shall pay rent including operating expenses and taxes for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on each day by which the Commencement Date occurs is July delayed as measured from August 1, 20012000 if caused by Tenant delay.
(e) Landlord understands that for each and every day that the Commencement Date does not occur, for any reason whatsoever other than that as a result of either a Tenant Delay or a Force Majeure Delay (as defined below) (each such day of delay for any other reason other than a Tenant delay or a Force Majeure Delay being herein referred to as a "Landlord Delay"), the Lease Term Tenant shall expire on June 30receive rental abatement, 2013 including operating expenses and if taxes for each multiplied by one (1) day by which the Commencement Date is July 3delayed as measured from August 1, 20012000.
(f) Landlord agrees to promptly notify Tenant in writing of any act or omission which Landlord believes may result in a Tenant Delay or Force Majeure Delay. Tenant agrees to promptly notify Landlord in writing of any act or omission which Tenant believes may result in a Landlord Delay. The mere sending of any such notice shall not conclusively determine the existence of a Tenant Delay, Force Majeure Delay, or a Landlord Delay.
(g) As used in the Lease, "Force Majeure Delay" shall mean a delay caused by any one or combination of the following events of "Force Majeure": on-site accident, on-site casualty, act of God, on-site explosion, war, invasion, insurrection, riot, mob violence, sabotage, strikes, lockouts, labor disputes, condemnation, governmental restrictions first adopted and effective after the date the Lease Term shall expire on July 2has been signed and delivered or laws first adopted and effective after the date the Lease has been signed and delivered, 2013 ("Expiration Date"). The parties shall execute a "Memorandum shortages of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. materials and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01contractor's delays., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Office Lease Agreement (Pinnacle Financial Partners Inc)
Commencement Date. The term of (a) As used in this Lease (Lease, "Lease Term") Commencement Date" shall be for twelve (12) years beginning on mean the ----------------- earlier of (i) the first date a Certificate of Occupancy first is issued affecting use or occupancy of all or any portion of the BuildingInitial Leased Premises by Tenant for the purpose of conducting its business, or (ii) the date on which Lessee first occupies or conducts business at the Premises Completion Date (the "Commencement Date") provided that, (idefined below) for each day of delay by Lessee in failing to approve the interior schematic drawings or Initial Leased Premises provided that the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery Completion Date shall be accelerated by the General Contractor number of days the achievement of the Completion Date is delayed as provided in Section 2.04(d), or (iii) for each day the result of delay caused by any changes Tenant Delays. Notwithstanding anything to the approved Working Drawings requested by Lesseecontrary contained herein, or (iv) for each day that any other act or omission by Lessee causes Tenant shall not be permitted to occupy the construction schedule for Tenant Improvements Initial Leased Premises prior to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance Substantial Completion of the Certificate Tenant Improvements if Landlord determines in its sole discretion that such occupancy may cause undue interference or delay in the completion of Occupancy the Tenant Improvements. As used in this Exhibit C-1, "Completion Date" with respect to occur on July 8, 2001 rather than July 1, 2001, ----------- --------------- the Commencement Date Initial Leased Premises shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if mean the date on which there is Substantial Completion of the Commencement Tenant Improvements for the Initial Leased Premises as described in Paragraph 2(e) of this Exhibit C-1. Landlord and Tenant estimate ----------- that the Completion Date occurs is July will be February 1, 20011999; however in no event shall such estimate be binding on Landlord or Tenant. As used in this Exhibit C-1, "Tenant Delay," shall mean the ----------- ------------ number of days that the occurrence or achievement of the particular event or date identified in this Lease, including without limitation the Completion Date, is delayed as a result of (i) Tenant's failure to meet the dates established in this Exhibit C-1, (ii) Long Lead Time Items (defined below), (iii) any changes ----------- to the Tenant Improvements requested to be made by Tenant (and approved by Landlord), (iv) Tenant's failure to sufficiently respond to Landlord's inquiries pursuant to Paragraph 1(c), (v) any breach by Tenant of its obligations under this Lease, including without limitation, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent failure to be paid pursuant to Section 4.01.comply with this Exhibit C-1, and shall be substantially in the form attached hereto as Exhibit "E."(vi) any other delays caused by Tenant or Tenant's engineers, ----------- architects (including Tenant Architect), consultants, employees, agents, contractors and subcontractors.
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen ten (1410) business days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay, provided that, in no event shall Lessee Delay be used to advance the Commencement Date to a date earlier than August 1, 2001. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July August 8, 2001 rather than July August 1, 2001, the Commencement Date shall be July August 1, 2001 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occursoccurs or is deemed to have occurred, e.g. if the date on which the Commencement Date occurs Certificate of Occupancy is July issued or deemed to be issued for the Building is August 1, 2001, the Lease Term shall expire on June 30August 31, 2013 and if the Commencement Date that date is July September 3, 2001, the Lease Term shall expire on July September 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term “Commencement Date” shall be the date Landlord delivers possession of this Lease the Premises to Tenant in the condition required hereunder. No Base Rent ("Lease Term"as hereinafter defined) or other rent or charges of any kind or nature, other than those charges described in Sections 6.1(b) and (c) shall be for twelve (12) years beginning on payable by Tenant with respect to the Premises until the Rent Commencement Date. The “Rent Commencement Date” shall be the earlier to occur of (i) Tenant’s Substantial Completion of the date a Certificate of Occupancy first is issued affecting the Building, Tenant Improvements or (ii) six (6) months after the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date"; provided, however, such six (6) provided that, (i) for each day of delay month period shall be extended by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance for each day Tenant’s Substantial Completion of the Tenant Improvements is actually delayed beyond such six (6) month period due to force majeure. As used herein, “Substantial Completion” shall mean the date that the Tenant Improvements are complete, subject only to minor punch-list items that do not interfere with Tenant’s use or occupancy of the Certificate Premises, and Tenant has received all governmental permits and approvals required for the legal occupancy of Occupancy the Premises for each such day the use permitted hereunder, including a permanent certificate of delayoccupancy. For example, if seven If Landlord fails to deliver possession of the Premises in the required condition within fifteen (715) days after execution of Lessee Delay causes this Lease or Tenant fails to Substantially Complete the date Tenant Improvements within six (6) months after Tenant’s execution of issuance this Lease or Tenant is unable to complete the Tenant Improvements at a cost of the Certificate of Occupancy less than One Million Dollars ($1,000,000), then Tenant may terminate this Lease by written notice to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Landlord., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve TWELVE (12) years beginning MONTHS unless sooner terminated as hereinafter provided, commencing on the date which is the earlier of of:
(i) the date a Certificate of Occupancy first is issued affecting the Building, or (iia) the date on which Lessee the Premises are Substantially Complete (as hereinafter defined); or
(b) the date that Tenant opens for business in the Premises; (or, at Landlord's election, upon the first day of the first full month following the earlier to occur of (a) or (b) above). The Premises shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord files or causes to be filed with the City of Pleasanton (the "City"), if required, and delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete, (2) Tenant first occupies all or conducts business at any portion of the Premises Premises, 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 the Premises.
1.1.1 The date that the Lease commences in accordance with this Article 1 shall be referred to herein as the "Commencement Date". If either of the events described in Paragraph 1.1(a) provided that, or (ib) for each occurs on the first day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d)a month, or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to date shall be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years this Lease.
1.1.2 On and after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001Date, the Lease shall continue in full force and effect for the period of time specified as the Term shall expire on June 30, 2013 and if or until this Lease is terminated as otherwise provided herein. As soon as the Commencement Date is July 3determined, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties Tenant shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially 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) Tenant's acceptance of the Premises. The Tenant's failure to execute the Commencement Date Memorandum shall not affect Tenant's liability hereunder.
1.1.3 Reference in this Lease to a "E."Lease Year" shall mean each successive twelve month period commencing with the Commencement Date.
1.1.4 Landlord and Tenant estimate that the Commencement Date shall be September 15, 2006, but such estimate is not and shall not be deemed to be a representation or warranty by Landlord that Premises shall be ready for Tenant's occupancy on such date.
Appears in 1 contract
Commencement Date. The term (a) Subject to the satisfaction of the conditions set forth in Sections 2.1 and 2.2, the “Commencement Date” shall be a Business Day specified by ▇▇▇▇ in a written notice to the Company given at least one (1) Business Day prior to such Commencement Date, which shall occur on or after the Effective Date and on or prior to June 1, 2012 or such later date as the Parties shall agree (the “Latest Commencement Date”).
(b) If the Commencement Date has not occurred on or before the Latest Commencement Date, this Agreement shall terminate on the first Business Day following the Latest Commencement Date. In such case, all obligations of the Parties hereunder shall terminate, except for the obligations set forth in Article 2, Article 20, Article 21 and Article 23 and any obligation under the last sentence of this Lease ("Lease Term") Section 2.3(c); provided, however, that nothing herein shall be relieve any Party from liability for twelve (12) years beginning the breach of any of its representations, warranties, covenants or agreements set forth in this Agreement. Without limiting the foregoing, if the failure of the Commencement Date to occur on or before the earlier of Latest Commencement Date is due to (i) any breach by the date a Certificate Company of Occupancy first is issued affecting the Buildingits obligations hereunder, including its obligations under clause (c) below or (ii) the date failure of any of the conditions contained in Section 2.1 to be satisfied on which Lessee first occupies or conducts business at before the Premises Latest Commencement Date for any reason whatsoever, then the Company shall be obligated to reimburse ▇▇▇▇ for any loss, costs and damages incurred or realized by ▇▇▇▇ as a result of its maintaining, terminating or obtaining any Related ▇▇▇▇▇▇.
(c) From and after the "Effective Date, the Company shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.1 to be satisfied on or prior to the Latest Commencement Date and ▇▇▇▇ shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.2 to be satisfied on or prior to the Latest Commencement Date".
(d) provided that, The Company covenants and agrees to take (ior cause its Affiliates to take) for each day of delay by Lessee all actions necessary to cause any Crude Oil Linefill or Product Linefill included in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance Volumes to be transferred to ▇▇▇▇ on and effective as of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Supply and Offtake Agreement (Alon USA Energy, Inc.)
Commencement Date. The term (a) Subject to the satisfaction of the conditions set forth in Sections 2.1 and 2.2, the “Commencement Date” shall be a Business Day specified by ▇▇▇▇ in a written notice to the Company given at least one (1) Business Day prior to such Commencement Date, which shall occur on or after the Effective Date and on or prior to June 1, 2015 or such later date as the Parties shall agree (the “Latest Commencement Date”).
(b) If the Commencement Date has not occurred on or before the Latest Commencement Date, this Agreement shall terminate on the first Business Day following the Latest Commencement Date. In such case, all obligations of the Parties hereunder shall terminate, except for the obligations set forth in Article 2, Article 21, Article 22 and Article 24 and any obligation under the last sentence of this Lease ("Lease Term") Section 2.3(b); provided, however, that nothing herein shall be relieve any Party from liability for twelve (12) years beginning the breach of any of its representations, warranties, covenants or agreements set forth in this Agreement. Without limiting the foregoing, if the failure of the Commencement Date to occur on or before the earlier of Latest Commencement Date is due to (i) any breach by the date a Certificate Company of Occupancy first is issued affecting the Buildingits obligations hereunder, including its obligations under clause (c) below or (ii) the date failure of any of the conditions contained in Section 2.1 to be satisfied on which Lessee first occupies or conducts business at before the Premises Latest Commencement Date unless such failure is due to any breach by ▇▇▇▇ of its obligations hereunder, including its obligations under clause (c) below, then the "Company shall be obligated to reimburse ▇▇▇▇ for any loss, costs and damages incurred or realized by ▇▇▇▇ as a result of its maintaining, terminating or obtaining any Related ▇▇▇▇▇▇.
(c) From and after the Effective Date, the Company shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.1 to be satisfied on or prior to the Latest Commencement Date and ▇▇▇▇ shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.2 to be satisfied on or prior to the Latest Commencement Date".
(d) provided that, The Company covenants and agrees to take (ior cause its Affiliates to take) for each day of delay by Lessee all actions reasonably necessary to cause any Product Linefill included in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance Volumes to be transferred to ▇▇▇▇ on and effective as of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Supply and Offtake Agreement (Par Petroleum Corp/Co)
Commencement Date. The term of this Lease ("“Lease Term"”) shall be for twelve five (125) years and six (6) months beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the BuildingPremises are “Ready for Occupancy”, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "“Commencement Date"”) provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "“Lessee Delay"”), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Premises are Ready for Occupancy for each such day of delay, provided that, in no event shall Lessee Delay be used to advance the Commencement Date to a date earlier than January 1, 2007. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Premises are Ready for Occupancy to occur on July January 8, 2001 2007 rather than July January 1, 20012007, the Commencement Date shall be July January 1, 2001 2007 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve five (125) years and six (6) months after the Commencement Date occursoccurs or is deemed to have occurred (“Expiration Date”), e.g. if the date on which the Commencement Date occurs Premises are Ready for Occupancy is July or is deemed to be January 1, 20012007, the Lease Term shall expire on June 30, 2013 2012 and if the Commencement Date that date is July January 3, 20012007, the Lease Term shall expire on July 2, 2013 ("Expiration Date")2012. The parties shall execute a "“Memorandum of Commencement of Lease Term" ” when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building Premises determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "“E."”
Appears in 1 contract
Commencement Date. The term of this Lease shall be for six (6) years and three (3) months (the "Lease Term") and shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises commence (the "Commencement Date") provided that, on the later of (i) for each day eight (8) weeks from full execution of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), this Lease or (ii) the date Landlord shall have substantially completed the tenant improvements as provided in Exhibit B attached hereto (that is, has completed the tenant improvements, except for each day normal "punch list" items) in a good and workmanlike manner, in compliance with all laws, and has delivered the Premises to Tenant in broom, clean condition, free of delay all tenants, occupants and their property, and shall have obtained reasonably satisfactory evidence confirming the substantial completion of construction in accordance with the plans which include the tenant improvements as provided in Exhibit B ("Landlord's Work"). In the event the Premises are not completed on or before June 30, 2005, Tenant shall have the right to terminate its obligations under this Lease; provided, however, that (i) such date shall be extended for a period equal to the duration of any delays in construction caused by Lessee strikes, shortages or materials, acts of God or other matters not reasonably within the control of Landlord, and any delays in failing completing the Premises as a result of change orders or other delays caused by Tenant. Landlord shall be deemed to approve have satisfactorily completed the Budgetconstruction of by Tenant. Landlord shall be deemed to have satisfactorily completed the construction of the tenant improvements, and Tenant shall be deemed to have waived all rights and remedies with respect to deficiencies in such construction, except for deficiencies of which Tenant has informed Landlord, in writing, within fourteen not later than ninety (1490) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), following the Commencement Date Date. Landlord shall occur one (1) day in advance perform Landlord's Work at its sole cost and expense and shall use diligent efforts to complete such work on or before the date that is eight weeks from the full execution of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Lease., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term Lease Commencement Date shall begin in phases based upon completion of improvements for various portions of the Premises as follows:
(a) The first phase of this Lease ("Lease TermPhase I") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises commence (the "Phase I Commencement Date") provided that, on the date of Substantial Completion (ias defined below) of all Tenant Improvements (as defined below) for each day that portion of delay by Lessee in failing the Premises commonly known as 1064 ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (the "Phase I Premises") and all Lessor Improvements (as defined below) to approve the interior schematic drawings and building systems of the Phase I Premises. The Phase I Premises is more particularly described on Exhibit A attached hereto and made a part hereof. If the Phase I Commencement date has not occurred for any reason on or the Working Drawings when required under Section 2.04(d)before September 30, or 1999 (ii) for each day of delay which date shall be extended by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day for each day of any Lessee Delay), then Lessee may terminate this Lease by giving written notice to Lessor at any time until the Phase I Commencement Date has occurred, whereupon any monies previously paid (including, without limitation, any Excess Costs) or security deposits made by Lessee to Lessor, shall promptly be reimbursed to Lessee, but Lessor shall be entitled to deduct from its reimbursement to Lessee the amount of all Tenant Improvements Costs that have been incurred by Lessor, or at Lessee's option, in advance lieu of such deduction, Lessee may make payment of such costs directly to Lessor. Lessor shall within ten (10) business days after its receipt of written request from Lessee, inform Lessee in writing of the amount of all Tenant Improvement Costs that have been incurred to date by Lessor and provide reasonable supporting backup documentation of such costs to Lessee. In addition to the Certificate of Occupancy foregoing termination right, if the Phase I Commencement date has not occurred on or before September 30, 1999 (which date shall be extended by one (1) day for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."any Lessee
Appears in 1 contract
Sources: Standard Industrial/Commercial Single Tenant Lease (Digitalthink Inc)
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 ("under Section 1.5 of the Lease Term") shall be for twelve (12) years beginning commence on the earlier of of: (i) thirty (30) days after the date a Certificate of Occupancy first Completion Date (as the Completion Date is issued affecting the Buildingdefined in Paragraph 1.3, above); or (ii) the date on which Lessee first occupies a certificate of occupancy (either temporary or conducts business at permanent) is issued for the Premises (Tenant Improvements, a final inspection approval is issued for the Tenant Improvements or the City of Calabasas otherwise allows Tenant's occupancy of the Tenant Improvements. Such date is herein referred to as the "Commencement Date" of the Lease. Landlord and Tenant recognize that the Commencement Date of the Lease could occur prior to the completion of construction of the Tenant Improvements.
(b) 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 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) provided that, shall not apply. Such Commencement Date under this subparagraph 3.1
(b) shall occur: (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day earlier than the defined Commencement Date, above, for each day that a "Tenant Delay" as defined below causes a delay in advance the construction of the date Tenant Improvements or the Shell; (ii) one (1) day earlier than the defined Commencement Date, above, for each day that Tenant's general contractor takes longer than one hundred eight (108) days to complete construction of the Certificate Tenant Improvements from the date that Landlord makes the Shell available to Tenant for the commencement of Occupancy construction of the Tenant Improvements; and (iii) one (1) day earlier than the defined Commencement Date, above, for each such day of delay. For examplethat the Final Plans and Specifications are completed after September 15, 1998; except that if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than Tenant Engages by July 1, 20011998 H. H▇▇▇▇ ▇▇▇ociates as a Full Service Space Planner, then subparagraphs 3.1(b)(ii) and (iii) shall not apply. The following items causing a delay in construction of the Commencement Date Tenant Improvements or the Shell shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease TermTenant Delay" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."under this subparagraph 3.1
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve FORTY-ONE (1241) years beginning MONTHS unless sooner terminated as hereinafter provided, commencing on the date which is the earlier of of:
(i) the date a Certificate of Occupancy first is issued affecting the Building, or (iia) the date on which Lessee the Premises are Substantially Complete (as hereinafter defined); or
(b) the date that Tenant opens for business in the Premises; (or, at Landlord's election, upon the first day of the first full month following the earlier to occur of (a) or (b) above). The Premises shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord files or causes to be filed with the City of Pleasanton (the "City"), if required, and delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete (and the Tenant Improvements have been substantially completed), (2) Tenant first occupies all or conducts business at any portion of the Premises Premises, 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 the Premises.
1.1.1 The date that the Lease commences in accordance with this Article 1 shall be referred to herein as the "Commencement Date". If either of the events described in Paragraph 1.1 (a) provided that, or (ib) for each occurs on the first day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d)a month, or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to date shall be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years this Lease.
1.1.2 On and after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001Date, the Lease shall continue in full force and effect for the period of time specified as the Term shall expire on June 30, 2013 and if or until this Lease is terminated as otherwise provided herein. As soon as the Commencement Date is July 3determined, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties Tenant shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially 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) Tenant's acceptance of the Premises. The Tenant's failure to execute the Commencement Date Memorandum shall not affect Tenant's liability hereunder.
1.1.3 Reference in this Lease to a "E."Lease Year" shall mean each successive twelve month period commencing with the Commencement Date.
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that" shall be December 1, (i) for each day of delay by 2015; provided, however, that if the Premises have not been substantially completed so as to allow Lessee to conduct its business therein on or before the date set forth above, Lessor shall not be liable to Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d)any manner for such delay, or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), but the Commencement Date shall not occur one (1) day in advance until the preparation of the date of the Certificate of Occupancy for each such day of delay. For examplePremises has been substantially completed, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, except that the Commencement Date shall not be July 1delayed to the extent that the delay in substantial completion of the Premises was due to the fault or otherwise caused by acts, 2001 for all purposesomissions, including payment change orders or other requests of Base Rent▇▇▇▇▇▇. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after Delays in the Commencement Date occursshall also result in an adjustment of the "Expiration Date" (as hereinafter defined) and the schedule of Base Rent schedule shown in Section 3 below. The term "Lease Year", e.g. as used in this Lease, shall mean the 12-month period commencing on the Commencement Date, and each 12-month period thereafter during the Term; provided, however, that if the date on Commencement Date is a day other than the first day of a calendar month, the first Lease Year shall include the period between the Commencement Date and the end of the calendar month in which the Commencement Date occurs is July 1, 2001, and shall extend through the Lease Term shall expire on June 30, 2013 and if end of the twelfth (12th) full calendar month following the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which and the Expiration Date shall include be evidenced by a certification of the actual Rentable Area of the Building determined by the methodology supplemental agreement similar to that described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Exhibit “E”., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term of this Lease ("“Lease Term"”) shall be for twelve eleven (1211) years beginning on the earlier of (i) the date a Certificate of Occupancy (which means for purposes of this Lease, either a Certificate of Occupancy or its equivalent which allows legal occupancy and including, without limitation, a Notice of Substantial Completion) first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises and the Seaport Boulevard improvements, the baseball and soccer fields have been substantially completed (the "“Commencement Date"”) provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed provided that Lessor gives Lessee written notice of such Lessee Delay within five (5) business days after its occurrence (collectively "“Lessee Delay"”), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July August 8, 2001 rather than July August 1, 2001, the Commencement Date shall be July August 1, 2001 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve eleven (1211) years after the Commencement Date occursoccurs or is deemed to have occurred, e.g. if the date on which the Commencement Date occurs Certificate of Occupancy is July issued or deemed to be issued for the Building is August 1, 2001, the Lease Term shall expire on June 30July 31, 2013 2012 and if the Commencement Date that date is July August 3, 2001, the Lease Term shall expire on July August 2, 2013 2012 ("“Expiration Date"”). The parties shall execute a "“Memorandum of Commencement of Lease Term" ” when the Commencement Date becomes known, which shall include a certification by Lessor’s architect of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "“E."”
Appears in 1 contract
Sources: Sublease (Supportsoft Inc)
Commencement Date. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the "Lease Term") shall be for twelve (12) years beginning the duration set forth in Section 1.3 hereof and shall commence on the earlier date set forth in Section 1.3.2 of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises this Lease (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve and shall terminate on the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided date set forth in Section 2.04(d), or (iii) for each day 1.3.3 of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expirethis Lease, unless sooner terminated or extended as provided hereinpursuant to the terms of this Lease. For purposes of this Lease, on the date which completes term "Lease Year" shall mean each consecutive twelve (12) years after month period during the Term. Notwithstanding the definition of the Commencement Date occursfor the Premises set forth in Section 1.3.2, e.g. if above, Tenant shall have the right to commence business operations from any portion of the Premises (such space, the "Pre- Occupancy Space") during the "Pre-Occupancy Period," as that term is defined below, provided that (i) Tenant shall give Landlord at least ten (10) days prior notice of any such use of the Premises, and (ii) a certificate of occupancy or its equivalent permitting occupancy shall have been issued by the appropriate governmental authorities for the Pre- Occupancy Space. If Tenant does commence business operations from any Pre- Occupancy Space prior to the occurrence of the Lease Commencement Date, all of the terms and conditions of this Lease shall apply to that portion of the Premises containing the Pre-Occupancy Space, except that Tenant shall have no obligation to pay Basic Rent or Tenant's Share of Expenses during the period commencing on the date on which Tenant commences business operations from the applicable Pre-Occupancy Space and continuing until the Lease Commencement Date (the "Pre-Occupancy Period"). Following Tenant's possession of the Premises, Tenant shall confirm the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum upon Landlord's delivery to Tenant of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially an instrument in the form set forth on Exhibit B attached hereto as Exhibit "E."hereto. Tenant shall execute and return such instrument within ten (10) days after written request from Landlord. This Lease shall be a binding contractual agreement effective upon the date of execution hereof by both Landlord and Tenant, notwithstanding the later commencement of the Term. 4.
Appears in 1 contract
Sources: Office Lease (Activision Inc /Ny)
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve years and six months (1212 yrs. 6 months) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen ten (1410) business days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay, provided that, in no event shall Lessee Delay be used to advance the Commencement Date to a date earlier than April 1, 2001. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July April 8, 2001 rather than July April 1, 2001, the Commencement Date shall be July April 1, 2001 for all purposes, including payment of Base Rent and Additional Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years and six months after the Commencement Date occursoccurs or is deemed to have occurred, e.g. if the date on which the Commencement Date occurs Certificate of Occupancy is July issued or deemed to be issued for the Building is April 1, 2001, the Lease Term shall expire on June September 30, 2013 and if the Commencement Date that date is July April 3, 2001, the Lease Term shall expire on July October 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term Commencement Date shall be the date provided in Item 5 of the Basic Lease Provisions. If this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at executed before the Premises (become vacant or otherwise available or if any present tenant or occupant of the "Premises holds over, and Landlord cannot acquire possession of the Premises in time to deliver them by the Commencement Date") , this Lease shall not be void or voidable, and Landlord shall not be deemed to be in default hereunder, nor shall Landlord be liable for any loss or damage directly or indirectly arising out of or resulting from such holdover, provided that, that in the event that the actual date of commencement is more than sixty (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (1460) days after delivery by the General Contractor as date provided in Section 2.04(dItem 5 of the Basic Lease Provisions (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), or (iii) for each day of delay caused by any changes Tenant shall be entitled, as its sole and exclusive remedy, to the approved Working Drawings requested by Lessee, or (iv) a rent credit equal to one day's Base Rent for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur is delayed beyond such sixty (60) day period. In the event that the actual date of commencement is more than one (1) day year after the date that this Lease is fully executed (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant shall be entitled, as its sole and exclusive remedy, to terminate this Lease upon written notice to Landlord given within thirty (30) days after the expiration of such one (1) year period (but in advance any event prior to the date that Landlord delivers possession of the date Premises with Landlord's Work substantially complete). Except as set forth herein, Tenant agrees to accept possession of the Certificate Premises at such time as Landlord is able to tender the same, which date shall thenceforth be deemed the Commencement Date. After the Commencement Date, Tenant shall, upon demand, execute and deliver to Landlord a letter of Occupancy for each such day acceptance of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance delivery of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, Premises specifying the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base RentDate. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.011.4., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease “Term"”) shall be for twelve sixty (1260) years beginning 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 earlier of (i) substantial completion of the date a Certificate of Occupancy first is issued affecting Tenant Improvements (as defined below) and the BuildingAdditional Work (as defined below), or and (ii) the date on which Lessee first occupies or conducts business at that Tenant commences occupancy and use of the Premises for the purpose of conducting Tenant’s business operations therein (the "Commencement Date") provided thatcommencement of such occupancy and use shall be deemed to constitute “possession” for purposes of this Lease and Tenant shall not be deemed to be “in possession” of the Premises prior to the 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 each day minor items of delay by Lessee in failing to approve adjustment or repair of the interior schematic drawings or type commonly found on an architect’s punchlist which would not materially interfere with Tenant’s use and enjoyment of the Working Drawings when required under Section 2.04(d), or Premises for their intended purpose; (ii) for each day the City of delay by Lessee in failing to approve Sunnyvale has approved the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay")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 building permit(s) issued for the Tenant Improvements and/or Additional Work. If the Commencement Date shall occur one (1) is other than the first day in advance of a calendar month and/or if the expiration date of this Lease is other than the Certificate of Occupancy for each such last day of delay. For examplea calendar month, if seven Rent (7as defined below) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 prorated for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on month in which the Commencement Date or expiration date, as applicable, occurs is July 1, 2001, on the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification basis of the actual Rentable Area number of days that Tenant had possession of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Premises during such calendar month., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. The term of this Lease ("Lease Term") shall be for twelve (12) years beginning on the earlier of (a) (i) if Landlord is not designated by Tenant to perform Tenant's Work, six (6) months from the date a Certificate completion of Occupancy first is issued affecting the Buildingcore and shell of the Building to the extent necessary so that Tenant may commence Tenant's Work, together with the 5 delivery of Architect's Certificate, or (ii) if Landlord is designated to perform Tenant's Work, the date on which Lessee first occupies or conducts business at Landlord Substantially Completes Tenant's Work and delivers the Demised Premises (to Tenant, provided, however, that in the "Commencement Date") provided that, case of (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay")above, the Commencement Date shall not occur one prior to the thirtieth (130th) day in advance after delivery of the date of the Certificate of Occupancy for each such day of delay. For exampleCommencement Notice, if seven nor earlier than January 1, 1999, (7b) days of Lessee Delay causes the date of issuance of Tenant, or anyone claiming under or through Tenant, first occupies the Certificate of Occupancy to occur on July 8Demised Premises or any part thereof and is open for business, 2001 rather than July 1, 2001provided that in such event, the Commencement Date shall be July deemed to have occurred only for the floors of the Demised Premises actually so occupied and provided further that if Tenant shall occupy any part of the Demised Premises and shall be open for business prior to January 1, 2001 1989, the Commencement Date shall not be deemed to have occurred until January 1, 1989, provided that Tenant shall occupy the Demised Premises on all of the terms and conditions of this Lease and Tenant shall pay as rent hereunder an amount equal to the product of fifty cents (50cts) and the Floor Space per month as well as all Additional changes incurred pursuant to the provisions hereof for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated every month or extended as provided herein, portion thereof commencing on the date which completes twelve (12) years after Tenant shall so occupy the Demised Premises or any portion thereof and be open for business and terminating on the day prior to the Commencement Date occursDate, e.g. if or (c) the date on upon which the Commencement Date occurs is July 1would have occurred under (a) above, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined but for delays caused by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01Tenant., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Commencement Date. (a) The term of this Lease ("Lease the “Term"”) shall be for twelve (12) years beginning commence on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, and unless sooner terminated or extended as hereinafter provided, shall end on the Expiration Date. Except as otherwise expressly provided herein, if Landlord does not tender possession of the Premises to Tenant on or before any specified date, for any reason whatsoever, Landlord shall not be liable for any damage thereby, this Lease shall not be void or voidable, and the date which completes twelve Term shall not commence until the Commencement Date actually occurs. Landlord shall be deemed to have tendered possession of the Premises to Tenant upon the giving of at least three (123) years days advance notice by Landlord to Tenant stating that the Premises is vacant, in the condition required by this Lease and available DocuSign Envelope ID: 9A9C9B12-A895-460A-B922-02EA96CBF419888 F039-07D3 96C 95C7 5 F6CAE9878F
(b) Notwithstanding the foregoing or anything to the contrary contained in this Lease, if the Commencement Date does not occur on or before February 1, 2024 (other than due to Tenant Delay or Unavoidable Delay), then, as Tenant’s sole remedy therefor, and as liquidated damages and not as a penalty, for each day after February 1, 2024 until the Commencement Date occurs, e.g. if or would have occurred except for Tenant Delay or Unavoidable Delay (each such day, a “Late Delivery Day”), the date on which period from the Commencement Date occurs is July until the Rent Commencement Date shall be extended by: (a) one (1) day for each Late Delivery Day, 2001for the first sixty (60) Late Delivery Days, and (b) two (2) days for each Late Delivery Day, for any Late Delivery Days in excess of the Lease Term shall expire on June 30first sixty (60) Late Delivery Days, 2013 and if the Commencement Date does not occur (and would not have not occurred except for Tenant Delay or Unavoidable Delay) on or before September 1, 2024, then Tenant may thereafter give Landlord notice terminating this Lease as of the date that is July 3forty five (45) days after the giving of such notice; and if by such 45th day, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes knownhas not occurred (and would not have occurred except for Tenant Delay or Unavoidable Delay), which then on such 45th day, this Lease shall include a certification of terminate; Tenant shall have no further rights to lease the actual Rentable Area of the Building determined by the methodology described in Section 2.01. Premises hereunder; and the actual monthly installments of Base Landlord shall return to Tenant any Advance Rent to be paid pursuant to Section 4.01and Security Deposit., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Office Lease (1stdibs.com, Inc.)
Commencement Date. The term of this Lease ("Lease Term") Commencement Date shall be for twelve (12) years beginning on defined to mean the earlier earliest to occur of the following:
(i) the date a Certificate Tenant commences occupancy under this Lease of Occupancy first is issued affecting any portion of the Building, or Premises for the conduct of its business; or
(ii) the date on which Lessee first occupies Estimated Commencement Date specified in section C.4. of the Information Sheet. If for any reason Landlord does not or conducts business at cannot deliver possession of all or any portion of the Premises (to Tenant by the "Estimated Commencement Date") provided that, (i) for each day Landlord shall not be subject to any liability therefore, nor shall such failure affect the validity of delay by Lessee in failing to approve the interior schematic drawings this Lease or the Working Drawings when required under Section 2.04(d)obligations of Tenant hereunder, or provided that such delay does not exceed thirty (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (1430) days after delivery by from the General Contractor as provided Estimated Commencement Date, but in Section 2.04(dsuch case, Tenant shall not be obligated to pay any Monthly Rent hereunder, until the date that Landlord delivers possession of the entire Premises to Tenant (which date shall then be deemed the Commencement Date), . No such delay or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), adjustment in the Commencement Date shall occur one (1) day in advance alter the validity of this Lease or the nature or term of the obligations of Tenant hereunder, nor shall any such delay or adjustment cause the expiration date of this Lease to be later than July 12, 2014. If for any reason Landlord does not deliver possession of all or any portion of the Certificate Premises to Tenant for a period exceeding thirty (30) days from the Estimated Commencement Date, Tenant shall be entitled to terminate this Lease with respect to that portion of Occupancy for each the Premises not delivered, and its obligations under this Lease shall cease with respect to, such day portion of delaythe Premises. For exampleExcept as set forth in the Work Letter with respect to the hanging conference room wall, if seven Landlord fails to deliver at least ninety percent (790%) of the Premises by the Estimated Commencement Date, Tenant shall be entitled to terminate this Lease in its entirety. If Landlord fails to deliver the Premises in its entirety within ninety (90) days of Lessee Delay causes after the date of issuance of the Certificate of Occupancy to occur on July 8Estimated Commencement Date, 2001 rather than July 1, 2001, the Commencement Date Tenant shall be July 1, 2001 for all purposes, including payment of Base Rententitled to terminate this Lease in its entirety. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."-5-
Appears in 1 contract
Sources: Office Lease Agreement
Commencement Date. The term of this Lease ("Lease Term") Subject to the limitations hereafter set forth, the Commencement Date shall be for twelve (12) years beginning on the earlier last to occur of (i) that date which is 31 days after August 1, 1994 (such date as it may be extended pursuant to the date a Certificate terms of Occupancy first is issued affecting this Lease being the Building"Construction Completion Date"), or (ii) the date on day which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) is 30 days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1Premises are "ready for occupancy" as provided in Section 4.2. The Tenant shall, 2001upon demand of the Landlord, the Lease Term shall expire on June 30, 2013 and if execute a certificate confirming the Commencement Date as it is July 3, 2001, determined in accordance with the Lease Term provisions of this Section 4.1. Landlord shall expire allow Tenant to enter the Premises on July 2, 2013 the Substantial Completion Date ("Expiration Date")as determined by Landlord) for purposes of Tenant setting up its work stations and equipment and performing trial runs of its testing and manufacturing equipment. The parties shall execute a "Memorandum of Commencement of Lease Term" when Notwithstanding that the Commencement Date becomes knownshall not occur until a subsequent date, which Tenant shall, from and after the date of such entry, be bound by the terms, covenants, provisions and agreements contained in the Lease (except the obligation to pay Basic Rent and Taxes) during such period prior to the Commencement Date (said period being the "Early Occupancy Period") including, without limitation the provisions of Article X and Article V. Tenant shall include a certification also be responsible for all costs for utilities used and consumed in the Premises during the Early Occupancy Period. Nothing contained herein shall be deemed or construed to 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 actual Rentable Area Premises by Tenant for the Permitted Uses (other than the limited purpose of setting up work stations and equipment and performing trial runs on testing and manufacturing equipment) shall result in the Commencement Date occurring regardless of the Building determined condition or state of completion of Landlord's Work and Tenant shall permit Landlord to continue to perform Landlord's Work in the Premises. Tenant shall not interfere in any regard with Landlord's completion of Landlord's Work and hereby agrees to be bound by the methodology described direction of Landlord's contractor or the Construction Manager (as hereafter defined) in Section 2.01. the event of any conflicts between the Landlord's Work and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01work being performed by Tenant., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Sublease (Genomic Solutions Inc)
Commencement Date. The term Landlord represents to Tenant, and Tenant acknowledges, that (i) Landlord's existing lease with Altera Corporation ("Altera") for the Premises expires on July 4, 1997, (ii) that Altera has a "hold-over" right to remain in the Premises for up to three (3) months after the July 4, 1997 date, and (iii) Altera must exercise its "hold-over" right and state the length of the hold-over period no later than February 1, 1997. Therefore, the Commencement Date of August 3, 1997 of this Lease ("Lease Term") shall be delayed for twelve up to three (123) years beginning on the earlier of months beyond August 3, 1997 (i) the date a Certificate of Occupancy first is issued affecting the Buildingonly if Landlord provides written notice to Tenant that Altera has exercised its "hold-over" right, or and (ii) the date on Commencement Date of this Lease shall be delayed a period equal to Landlord's written notice to Tenant stating the period of time of Altera's hold-over, which Lessee first occupies or conducts business at notice shall be delivered to Tenant no later than February 15, 1997. If Altera does not deliver possession of the Premises (to Landlord on or before the "Commencement Date") provided thatdate Altera is required to surrender, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d)whether such date is July 4, 1997, or (ii) for each day of delay an extended date set by Lessee in failing to approve the Budgeta hold-over notice, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, then the Commencement Date shall be July 1delayed one day for every day beyond such required surrender date, 2001 for all purposes, including payment during which Altera continues in possession of Base Rentthe Premises. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after Although the Commencement Date occurs, e.g. if shall not be affected by the date of Substantial Completion of Interior Improvements under Exhibit "B" hereto, Landlord agrees that it will keep Tenant advised on which negotiations for the Commencement Date occurs is July 1construction contract with the Prime Contractor, 2001that it will provide in such contract for penalties for delay in completion of construction by the Prime Contractor, and that Tenant will have the right to approve the Prime Construction Contract, approval not be unreasonably withheld or delayed, solely with regard to the timeline schedule for construction, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, penalties which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent are to be paid pursuant charged to Section 4.01.the Prime Contractor in the event of delay, and shall be substantially in the form attached hereto as Exhibit "E."construction warranties.
Appears in 1 contract
Sources: Lease (Quickturn Design Systems Inc)
Commencement Date. The term (a) Subject to the satisfaction of the conditions set forth in Sections 2.1 and 2.2, the “Commencement Date” shall be a Business Day mutually agreed to by the Parties on or after the Effective Date and on or prior to June 30, 2017 or such later date as the Parties shall agree (the “Latest Commencement Date”).
(b) If the Commencement Date has not occurred on or before the Latest Commencement Date, this Agreement shall terminate on the first Business Day following the Latest Commencement Date. In such case, all obligations of the Parties hereunder shall terminate, except for the obligations set forth in Article 2, Article 21, Article 22 and Article 24 and any obligation under the last sentence of this Lease ("Lease Term") Section 2.3(b); provided, however, that nothing herein shall be relieve any Party from liability for twelve (12) years beginning the breach of any of its representations, warranties, covenants or agreements set forth in this Agreement. Without limiting the foregoing, if the failure of the Commencement Date to occur on or before the earlier of Latest Commencement Date is due to (i) the date a Certificate any breach by Fuels or LW of Occupancy first is issued affecting the Buildingits obligations hereunder, including its obligations under clause (c) below or (ii) the date failure of any of the conditions contained in Section 2.1 to be satisfied on which Lessee first occupies or conducts business at before the Premises Latest Commencement Date unless such failure is due to any breach by Macquarie of its obligations hereunder, including its obligations under clause (c) below, then Fuels and LW shall, on a joint and several basis, be obligated to reimburse Macquarie for any out of pocket losses, costs and damages incurred or realized by Macquarie as a result of its maintaining, terminating or obtaining any Related ▇▇▇▇▇▇.
(c) From and after the "Effective Date, Fuels and LW shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.1 to be satisfied on or prior to the Latest Commencement Date and Macquarie shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.2 to be satisfied on or prior to the Latest Commencement Date".
(d) provided that, Each of Fuels and LW covenants and agrees to take (ior cause its respective Affiliates to take) for each day of delay by Lessee all actions reasonably necessary to cause any Product Linefill included in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance Volumes to be transferred to Macquarie on and effective as of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Supply and Offtake Agreement (Calumet Specialty Products Partners, L.P.)
Commencement Date. The term (a) Subject to the satisfaction of the conditions set forth in Sections 2.1 and 2.2, the “Commencement Date” shall be April 29, 2011 or, if the Parties agree to a later date, then such later date (the “Latest Commencement Date”).
(b) If the Commencement Date has not occurred on or before the Latest Commencement Date, this Agreement shall terminate on the first Business Day following the Latest Commencement Date. In such case, all obligations of the Parties hereunder shall terminate, except for the obligations set forth in Article 2, Article 20, Article 21 and Article 23 and any obligation under the last sentence of this Lease ("Lease Term") Section 2.3(b); provided, however, that nothing herein shall be relieve any Party from liability for twelve (12) years beginning the breach of any of its representations, warranties, covenants or agreements set forth in this Agreement. Without limiting the foregoing, if the Fee Letter has been executed by Guarantor and ▇▇▇▇ on or before the earlier Latest Commencement Date and if the failure of the Commencement Date to occur on or before the Latest Commencement Date is due to (i) any breach by the date a Certificate Company of Occupancy first is issued affecting the Buildingits obligations hereunder, including its obligations under clause (c) below or (ii) the date failure of any of the conditions contained in Section 2.1 to be satisfied on which Lessee first occupies or conducts business at before the Premises Latest Commencement Date for any reason whatsoever, then the Company shall be obligated to reimburse ▇▇▇▇ for any losses, costs and damages incurred or realized by ▇▇▇▇ as a result of the termination of this Agreement, including any such losses, costs or damages incurred or realized as a result of Aron’s terminating, liquidating, maintaining, obtaining or reestablishing any hedge or related trading positions in connection with such termination.
(c) From and after the "Effective Date, the Company shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.1 to be satisfied on or prior to the Latest Commencement Date and ▇▇▇▇ shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.2 to be satisfied on or prior to the Latest Commencement Date".
(d) provided that, The Parties acknowledge and agree that some of the Schedules contemplated hereby are (i) for each day not attached to this Agreement as of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), Effective Date or (ii) for each day of delay by Lessee are attached in failing to approve draft form. Between the BudgetEffective Date and the Commencement Date, the Parties shall cooperate, in writinggood faith, within fourteen (14) days after delivery by to prepare and finalize the General Contractor as provided in Section 2.04(d)form and content of such Schedules, or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided hereinextent possible and, on the date which completes twelve Commencement Date, will execute such amendment or other instrument as each Party deems reasonably necessary to cause each such Schedule be incorporated as an attachment to this Agreement as contemplated by the terms hereof. For any Schedules outstanding as of the Commencement Date, the Parties shall cooperate, in good faith, to prepare and finalize the form and content of such outstanding Schedules and will endeavor in good faith to execute an amendment no later than sixty (1260) years days after the Commencement Date occursand, e.g. if the date on which the Commencement Date occurs is July 1, 2001after such date, the Lease Term shall expire on June 30, 2013 Parties agree to cooperate to update and if amend the Commencement Date is July 3, 2001Schedules and this Agreement to accommodate changes in the assets and configurations of the Refinery Storage Facility, the Lease Term shall expire on July 2Crude Delivery Point, 2013 the Products Delivery Point or any other similar term hereunder.
("Expiration Date"). e) The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes knownCompany Parties agree that, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. executing this Agreement, they are accepting and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01.agreeing to, and shall be substantially in bound by, the form attached hereto terms of the Fee Letter as Exhibit "E."if they were parties thereto.
Appears in 1 contract
Sources: Master Supply and Offtake Agreement (Delek US Holdings, Inc.)
Commencement Date. (a) Subject to the satisfaction of the conditions set forth in Sections 2.1 and 2.2, the “Commencement Date” shall be a Business Day specified by A▇▇▇ in a written notice to the Company given at least one (1) Business Day prior to such Commencement Date, which shall occur on or after the Effective Date and on or prior to March 1, 2011 or such later date as the Parties shall agree (the “Latest Commencement Date”).
(b) The term Company may elect to terminate this Agreement by giving written notice (email delivery being deemed sufficient) to A▇▇▇ no later than 11:59 p.m. (New York time) on Tuesday, February 22, 2011, in which case all obligations of the Parties hereunder shall terminate as of such time, except for the obligations set forth in Article 2, Article 20, Article 21 and Article 23 (the “Section 2.3(b) Termination”); provided, however, that nothing herein shall relieve any Party from liability for the breach of any of its representations, warranties, covenants or agreements set forth in this Agreement. If the Section 2.3(b) Termination is not elected, yet the Commencement Date has not occurred on or before the Latest Commencement Date, this Agreement shall terminate on the first Business Day following the Latest Commencement Date. In such case, all obligations of the Parties hereunder shall terminate, except for the obligations set forth in Article 2, Article 20, Article 21 and Article 23and any obligation under the last sentence of this Lease ("Lease Term") Section 2.3(b); provided, however, that nothing herein shall be relieve any Party from liability for twelve (12) years beginning the breach of any of its representations, warranties, covenants or agreements NY2-683668 set forth in this Agreement. Without limiting the foregoing, if the failure of the Commencement Date to occur on or before the earlier of Latest Commencement Date is due to (i) any breach by the date a Certificate Company of Occupancy first is issued affecting the Buildingits obligations hereunder, including its obligations under clause (c) below or (ii) the date failure of any of the conditions contained in Section 2.1 to be satisfied on which Lessee first occupies or conducts business at before the Premises Latest Commencement Date for any reason whatsoever, then the Company shall be obligated to reimburse A▇▇▇ for any loss, costs and damages incurred or realized by A▇▇▇ as a result of its maintaining, terminating or obtaining any Related H▇▇▇▇▇.
(c) From and after the "Effective Date, the Company shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.1 to be satisfied on or prior to the Latest Commencement Date and A▇▇▇ shall use commercially reasonable efforts to cause each of the conditions referred to in Section 2.2 to be satisfied on or prior to the Latest Commencement Date".
(d) provided thatWithout limiting the Parties' respective obligations under this Agreement, during the period between the Effective Date and the Commencement Date, if either Party in its reasonable judgment deems it necessary or appropriate, the Parties may refine the modeling underlying the computations contemplated with respect to the amounts referred to in clauses (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or and (ii) for each day of delay by Lessee Section 10.2.
(e) The Company covenants and agrees to take (or cause its Affiliates to take) all actions necessary to cause any Crude Oil Linefill or Product Linefill included in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance Volumes to be transferred to A▇▇▇ on and effective as of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Supply and Offtake Agreement (Alon USA Energy, Inc.)
Commencement Date. (a) Upon the Effective Date, the terms and provisions hereof shall be fully binding on Landlord and Tenant prior to the occurrence of the Commencement Date. The term Term of this Lease ("Lease Term") shall be for twelve (12) years beginning commence on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless Unless sooner terminated or extended as provided hereinhereinafter provided, the Term shall end on the date which completes twelve Expiration Date. Landlord shall be deemed to have tendered possession of the Premises to Tenant upon the mutual execution and delivery of this Lease, it being understood that the Premises are vacant, in the condition required by this Lease (12except for Landlord’s performance of Landlord’s Work pursuant to Article 4 below) years after and available for Tenant’s occupancy (subject to Section 2.2(b) below). Notwithstanding the foregoing or anything to the contrary contained in Article 1 above, if Tenant is not legally permitted to occupy the Premises for the conduct of its business on August 1, 2009, as a result of any act or omission on the part of Landlord or Landlord’s agents or employees, and if Tenant does not occupy the Premises for the conduct of its business as a result thereof, then the Commencement Date occursshall not occur until Tenant is legally permitted to occupy the Premises for the conduct of its business; provided, e.g. however, if the Commencement Date has not occurred on or before October 1, 2009, then Tenant shall have the right to terminate this Lease, which right shall be exercisable only by written notice to Landlord delivered not earlier than October 2, 2009, and not later than the earlier to occur of (i) the date on which the Commencement Date occurs is July 1occurs, 2001and (ii) October 10, the Lease Term shall expire on June 30, 2013 and if 2009. At any time following the Commencement Date is July 3Date, 2001, Landlord shall have the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute right to deliver to Tenant a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially notice in the form as set forth in Exhibit G, attached hereto hereto, as Exhibit "E."a confirmation only of the information set forth therein, which, if accurate, Tenant shall execute and return to Landlord within five (5) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. For purposes of determining whether Tenant has accepted possession of the Premises, Tenant shall be deemed to have done so when Tenant first moves Tenant’s Property and/or any of its personnel into the Premises and/or commences construction, except to the extent that Tenant is authorized in this Lease or by Landlord’s agreement (such as set forth in Section 2.2(b) below) to do any of the foregoing without being deemed to have accepted possession of the Premises.
Appears in 1 contract
Sources: Lease Agreement (E2open Inc)
Commencement Date. The term Term of this the Lease shall commence ("Lease Term") shall be for twelve (12) years beginning on the earlier of (i) the date a Certificate of Occupancy first is issued affecting the Building, or (ii) the date on which Lessee first occupies or conducts business at the Premises (the "Commencement Date") provided that, (i) for each on the first day of delay by Lessee in failing to approve the interior schematic drawings or the Working Drawings when required under Section 2.04(d), or (ii) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if first full month following the date on which the Premises are Substantially Complete (as hereinafter defined) except that if Substantial Completion occurs on the first day of a month, that date shall be the Commencement Date, and the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. The Premises shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord files or causes to be filed with the City in which the Premises are located (if required) and delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete, (2) Tenant commences business operations in the Premises, or (3) a certificate of occupancy is issued for the Premises. Landlord shall arrange for the construction of certain Tenant Improvements (as defined in the Work Letter), if any, in accordance with and subject to the terms of the Work Letter attached hereto as Exhibit "B". Tenant shall, upon demand after delivery of the Premises to Tenant, execute and deliver to Landlord a Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."C" acknowledging (i) the Commencement Date, (ii) the final square footage of the Premises, and (iii) Tenant's acceptance of the Premises. If the Premises are not Substantially Complete on the Estimated Commencement Date, this Lease shall remain in effect, Landlord shall not be 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 set forth in the Work Letter, neither Landlord nor any broker or agent has made any representations or warranties in connection with the physical condition of the Premises or their fitness for Tenant's use upon which Tenant has relied directly or indirectly for any purpose. Notwithstanding the foregoing, if Landlord has not delivered the Premises to Tenant with Substantial Completion of the Tenant Improvements by the date which is six (6) months after Tenant's approval of the Construction Drawings pursuant to Section 1 of the Work Letter, subject to any delays caused by Force Majeure and Tenant Delays, then Tenant shall have the right to terminate this Lease upon thirty (30) days' notice to Landlord; provided, however, that if upon such 30-day notice Landlord can substantially complete the Tenant Improvements within ten (10) days of such notice, Landlord shall notify Tenant of Landlord's ability to so complete the Tenant Improvement work and Tenant shall have no right to terminate this Lease.
Appears in 1 contract
Sources: Sublease Agreement (E Loan Inc)
Commencement Date. (a) The term of this Lease ("Lease Term") Term shall be for twelve (12) years beginning commence on the earlier of of: (i) ten (10) days following the date Lessor notifies Lessee of the Substantial Completion of its construction obligations described in Exhibit "C" to this Lease provided a Certificate of Occupancy first is issued affecting the Building, or has been issued; and (ii) when Lessee occupies the Leased Premises for the purpose of conducting business. The Term shall continue for the period of months specified in Section 1.4 of the Lease, plus the portion of a calendar month, if any, immediately following commencement.
(b) If despite Lessor's diligent efforts Lessor's work upon the Leased Premises improved in accordance with the provisions of Exhibit "C" are not substantially completed by a date which is 300 days following the date on which Lessee first occupies or conducts business at of the Premises issuance of the building permit to the Lessor for construction of the Lessor's work specified in Exhibit "C" (the "Commencement Estimated Completion Date") , provided thatthat said date shall be extended for period equal to the time construction has been delayed due to Permissible Delays, (i) then, in such event, for each day of such further delay caused by Lessor, Lessee shall be credited with an amount equal to a sum derived by dividing the Minimum Monthly Rent at commencement of the Term by 30, which credit shall be applicable to Tenant's Minimum Monthly Rent obligation. However, for each day of delay beyond the Estimated Completion Date caused by Lessee Delay, Lessee shall pay additional rent to Lessor computed in failing to approve the interior schematic drawings or same manner which shall be payable with the Working Drawings when required under Section 2.04(d)first regular installment of Minimum Monthly Rent. However, or (ii) for each day of delay any such delay, whether caused by Lessee in failing or Lessor, shall be subject to approve a 5 day period during which the Budgetculpable party shall not be responsible for the remedies herein above described. In no event, in writinghowever, within fourteen (14) days after delivery shall extensions resulting from Permissible Delay exceed 180 days. Each party shall notify the other of any delays caused by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to other party within a reasonable time following the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance first party's knowledge of the delay. However, failure to notify shall not constitute a waiver of the rights of either party hereunder arising as a result of the delay.
(c) If the Term has not commenced within three (3) years from date of the Certificate of Occupancy for each such day of delay. For exampleexecution hereof, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date it shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which the Commencement Date occurs is July 1, 2001, the Lease Term shall expire on June 30, 2013 and if the Commencement Date is July 3, 2001, the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01automatically terminated., and shall be substantially in the form attached hereto as Exhibit "E."
Appears in 1 contract
Sources: Sublease (Sangstat Medical Corp)
Commencement Date. The term of this Lease ("Lease the “Term"”) shall be for twelve commence (12i) years beginning with respect to the 2007 Space, on the earlier to occur of (ia) the date a Certificate of Occupancy first which is issued affecting four (4) months after the Building, Delivery Date or (iib) the date on which Lessee first Tenant takes possession of or occupies or conducts any portion of the 2007 Space for the conduct of its business at the Premises (the "“2007 Space Commencement Date"”), and (ii) provided thatwith respect to the 2008 Space, on the earlier to occur of (ia) for each day of delay by Lessee in failing to approve the interior schematic drawings August 1, 2008 or the Working Drawings when required under Section 2.04(d)date which is four (4) months after the Delivery Date, whichever comes later, or (iib) for each day of delay by Lessee in failing to approve the Budget, in writing, within fourteen (14) days after delivery by the General Contractor as provided in Section 2.04(d), or (iii) for each day of delay caused by any changes to the approved Working Drawings requested by Lessee, or (iv) for each day that any other act or omission by Lessee causes the construction schedule for Tenant Improvements to be delayed (collectively "Lessee Delay"), the Commencement Date shall occur one (1) day in advance of the date of the Certificate of Occupancy for each such day of delay. For example, if seven (7) days of Lessee Delay causes the date of issuance of the Certificate of Occupancy to occur on July 8, 2001 rather than July 1, 2001, the Commencement Date shall be July 1, 2001 for all purposes, including payment of Base Rent. The Lease Term shall expire, unless sooner terminated or extended as provided herein, on the date which completes twelve (12) years after the Commencement Date occurs, e.g. if the date on which Tenant takes possession of or occupies any portion of the 2008 Space for the conduct of its business (the “2008 Space Commencement Date”), subject to Section 3.2 below, and shall end on the Termination Date, unless sooner permissibly terminated pursuant to the terms of this Lease. Promptly following each of the 2007 Space Commencement Date occurs is July 1and the 2008 Space Commencement Date, 2001, Landlord and Tenant shall confirm the Lease Term shall expire on June 30, 2013 and if the 2007 Space Commencement Date is July 3, 2001, and the Lease Term shall expire on July 2, 2013 ("Expiration Date"). The parties shall execute 2008 Space Commencement Date and the Termination Date by executing and delivering a "Memorandum of Commencement of Lease Term" when the Commencement Date becomes known, which shall include a certification of the actual Rentable Area of the Building determined by the methodology described in Section 2.01. and the actual monthly installments of Base Rent to be paid pursuant to Section 4.01., and shall be substantially in the form attached hereto as Exhibit "E."“D”. If Tenant fails to execute and deliver such Memorandum of Commencement Date to Landlord within ten (10) days after Landlord’s request, which failure continues for at least ten (10) days after a second written request from Landlord after the lapse of the first 10 day period, then the 2007 Space Commencement Date (or the 2008 Space Commencement Date, as applicable) and Termination Date shall be the dates designated by Landlord.
Appears in 1 contract