Demise of the Relocation Premises Clause Samples

Demise of the Relocation Premises. Commencing on February 1, 2013 (the “Relocation Premises Term Commencement Date”) Landlord leases to Tenant and Tenant leases from Landlord the Relocation Premises in “as-is” condition as of the date of this Lease Amendment, however Landlord shall, at its cost, complete all of the demising and installation pursuant to the scope and floor plan attached as Exhibit A-l and to General Specifications for Construction contained in Exhibit A-2. Landlord will provide tenant with a turnkey build out based upon the attached plan and specifications in Exhibits A-l and A-2, In the event Landlord is not substantially complete with Landlord’s work by February 1st, 2013, The Term Commencement day shall be extended on a day for day basis until such time as the Relocation Premises is substantially complete and Tenant may occupy the space. In the event that Landlord has not completed Landlord’s work by February 15th 2013 there shall be a penalty of one day of free base rent for each one day delay, until March 1st, 2013. Then starting March 1, 2013 the penalty shall be two days of free rent for each day of delay. Tenant will also be allowed to remain in current suite until Relocation Premises is ready to occupy and will have two (2) weeks after Relocation Term Commencement Date to clear current suite of Tenant belongings. In the event Tenant vacates the Premises within this two week period, Tenant shall have no further obligation to pay rent on this space, In the event Tenant does not vacate the Original Premises within this period Tenant shall then continue to pay rent on the Original Premises under the Original Lease as if the Tenant had not vacated, commencing on the fifteenth (15th) day and continuing until Tenant has fully vacated. Tenant shall continue to pay rent on the existing space under the existing structure until such time as the Relocation Space is substantially complete and Tenant can occupy the Space. Landlord shall commence Landlord’s work as soon as possible after execution of this Amendment. In the event Landlord completes its work prior to February 1, 2013, Tenant shall have the right to utilize the Relocation Premises without charge. In any event Tenant shall have the right to conduct its installation work within the Relocation Premises, prior to the Relocation Term Commencement Date, provided that such work does not interfere with Landlord’s work, in landlord’s sole judgment and discretion.