Common use of Commencement Dates Clause in Contracts

Commencement Dates. (A) The Module M Premises are currently occupied by Biological Controls under a lease which expires April 30, 2001, although it is currently projected that Biological Controls may vacate the Module M Premises on or about April 15, 2001. The Module M Commencement Date shall be the earlier of the date on which (i) Landlord makes the Module M Premises available to Tenant for the construction by Tenant of the Module M Alterations, as defined in Paragraph 8 hereof, or (ii) Tenant first occupies all or any part of the Module M Premises. (B) The Module E Premises are currently occupied by York Telecom under a lease which expires December 31, 2001, although it is currently projected that York Telecom may vacate the Module E Premises on or about September 1, 2001. The Module E Commencement Date shall be the earlier of the date on which (i) the Landlord has obtained on behalf of Tenant, and at Tenant's expense, a certificate of occupancy, temporary or permanent, permitting occupancy of the Module E Premises by Tenant, or (ii) Tenant first occupies all or any part of the Module E Premises. (C) If, for any reason, including but not limited to the failure of the existing tenant to vacate either the Module M Premises or the Module E Premises, Landlord is unable to deliver possession to Tenant as currently projected, the Landlord shall have no liability to Tenant, the Lease shall remain in effect and such failure to deliver possession shall be of no consequence, except that the commencement date for such premises shall not occur until Landlord delivers possession of such premises to Tenant. (D) Upon request of either, Landlord and Tenant shall complete and execute a commencement date memorandum substantially in the form annexed hereto as Exhibit E to memorialize the occurrence of any one or more of the commencement dates described in this Amendment.

Appears in 1 contract

Sources: Lease (Millennium Cell Inc)

Commencement Dates. (A) The Module M Premises are currently occupied by Biological Controls under a lease which expires April 30"Commencement Date" of this Lease shall be November 17, 2001, although it is currently projected that Biological Controls may vacate 2000 and the Module M Premises on or about April 15, 2001. The Module M "Rent Commencement Date Date" shall be the earlier later of February 1, 2001 or the date the Premises are Substantially Complete or the date Lessee has accepted possession of the date on which (i) Landlord makes Premises hereunder for occupancy. Promptly following the Module M Premises available to Tenant for Rent Commencement Date, Lessor and ▇▇▇▇▇▇ shall execute a letter acknowledging that ▇▇▇▇▇▇ has accepted possession, and reciting the construction by Tenant exact Rent Commencement Date and Expiration Date of the Module M AlterationsLease, as defined in Paragraph 8 hereofSection 2 below, a form of which is set forth on Exhibit B hereto. The failure by either party, or both parties, to execute such letter shall not affect the rights or obligations of either party hereunder. Such letter, when so executed and delivered, shall be deemed to be a part of this Lease. The Premises shall be deemed to be "Substantially Complete" when Lessor's architect certifies in writing to Lessee that (i) except for immaterial punch list items, minor or insubstantial construction, mechanical adjustment or decoration, the non-completion of which will not materially interfere with ▇▇▇▇▇▇'s normal use of the Premises (other than the use of the Clean Room, as such space is designated on Exhibit A hereto (the "Clean Room")), Lessor has completed Lessor's Work, such work to be performed pursuant to the Lessor Improvement Letter, (ii) Tenant first occupies all services and utilities serving the Premises are in full operation, (iii) the parking lot located on the Land Parcel is accessible and functioning, (iv) an unconditional certificate of occupancy (or any part its equivalent if a certificate of occupancy is not otherwise available) issued by the appropriate governmental authority has been issued with respect to the Premises (other than with respect to the Clean Room) to the reasonable satisfaction of Lessee, and (v) Lessee and its visitors shall have full access to the Premises (other than with respect to the Clean Room) and the right to use the parking lot located on the Land Parcel. Other than for ▇▇▇▇▇▇'s Work and the delivery of the Module M Premises consistent with the representations set forth in Section 1(b), Lessor shall have no obligation for the completion of the Premises. (B) The Module E Premises are currently occupied by York Telecom under a lease which expires December 31, 2001, although it is currently projected that York Telecom may vacate the Module E Premises on or about September 1, 2001. The Module E Rent Commencement Date shall not be the earlier of the date on which (i) the Landlord has obtained on behalf of Tenant, and at Tenant's expense, a certificate of occupancy, temporary extended or permanent, permitting occupancy of the Module E Premises by Tenant, or (ii) Tenant first occupies all or any part of the Module E Premises. (C) If, delayed for any reason, including reason due to ▇▇▇▇▇▇'s election hereunder to undertake the Lessee's Clean Room Work and the Premises shall be Substantially Complete if the conditions therefor set forth in this Section 1(c) are satisfied but not limited to for such election and the failure status of Lessee's Clean Room Work. In the existing tenant to vacate either the Module M Premises or the Module E Premises, Landlord event Lessor is unable to deliver possession of the Premises to Tenant Lessee Substantially Complete, or the Premises is otherwise not accepted by ▇▇▇▇▇▇ for occupancy hereunder, on or before April 5, 2001 for any reason (but subject to delay due to force majeure (e.g., labor strikes, earthquakes, acts of God, etc.) so long as currently projectedLessor has been attempting to complete Lessor's Work with reasonable diligence and in good faith), then Lessee may at its option reduce the Fixed Rent (as discussed below) by delivering to Lessor written notice of its intention to do so within 10 days, whereupon, unless such possession (or acceptance) is delivered during such 10 day period, the Landlord Lessee shall have no liability be entitled to TenantFixed Rent holiday equal to $1,205.32 for each day thereafter that the Premises are not Substantially Complete or the Premises is otherwise not accepted by Lessee for occupancy hereunder. The aggregate amount of such Fixed Rent holiday shall be offset against ▇▇▇▇▇▇'s obligation to pay Fixed Rent for each day immediately following the Rent Commencement Date until the aggregate holiday has been offset. Subject to the Rules and Regulations set forth in Exhibit C hereto and except as set forth in Sections 9, 13 and 14 hereof, the Lease shall remain common and parking areas in effect and such failure to deliver possession the Premises shall be at all times available for use by Lessee during the full term of no consequencethis Lease. Lessor reserves the reasonable right to change the entrances, except that exits, traffic lanes and the commencement date for boundaries and parking location areas provided such premises shall changes do not occur until Landlord delivers possession of such premises to Tenantmaterially alter Lessee's parking rights under this Lease. (D) Upon request of either, Landlord and Tenant shall complete and execute a commencement date memorandum substantially in the form annexed hereto as Exhibit E to memorialize the occurrence of any one or more of the commencement dates described in this Amendment.

Appears in 1 contract

Sources: Lease Agreement (Corporate Realty Income Fund I L P)