Existing Lease. (a) Landlord and Tenant acknowledge and agree that Tenant currently occupies the Premises (together with certain other space within the Project) pursuant to the terms of that certain Lease Agreement dated as of March 29, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) and Tenant (as amended, the "Existing Lease"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective as of the Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) in accordance with the terms and conditions of the Existing Lease, and Tenant's responsibility for any damages to the Premises during the term of the Existing Lease. (b) Releases.
Appears in 1 contract
Existing Lease. (a) Landlord The Port Authority, and Tenant acknowledge and agree that Tenant currently occupies the Premises (together with certain other space within the Project) pursuant to the terms Lessee have heretofore entered into an agreement of that certain Lease Agreement lease, dated as of March 29February 24, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) 1984, said agreement of lease, as the same has heretofore been supplemented and Tenant (as amended, being referred to herein as the "Existing Lease"). Until .
(b) Effective on the earlier of (1) the day subsequent to the Area A-1 Commencement DateDate that the Lessee shall, Tenant shall continue to perform all of its obligations upon not less than forty-five (45) days' prior notice, vacate the entire premises under the Existing Lease (including, without limitation, such premises being hereinafter referred to as the timely payment of rent "surrendered premises") and all other charges thereunder). Effective as deliver actual physical possession of the Commencement Datesame to the Port Authority, in the condition required by the Existing Lease upon surrender, as amended by the proviso to the first sentence of paragraph (c) of this Section, or (2) the day preceding the later of (i) the date that the Lessee shall terminate commence in Area A any of the operations permitted by the Section of this Agreement entitled "Rights of User by the Lessee", (ii) the date that the Lessee shall commence in Area A-1 any of the operations permitted by said Section, or (iii) June 1, 2002, in the event of the cancellation of the letting of Area A and neither Landlord nor Tenant shall have any rightsArea A-1 together with this Agreement pursuant to the provisions of paragraph (b) of the Section of this Agreement entitled "Term" (said earlier day being hereinafter referred to as the "Surrender Date"), liabilities or obligations thereunderthe Lessee hereby surrenders and yields up and does by these presents grant, except those obligations bargain, sell, surrender and yield up to the Port Authority, its successors and assigns, forever the surrendered premises and the term of Tenant years with respect thereto under the Existing Lease or at law which survive yet to come, and has given, granted and surrendered and by these presents does give, grant and surrender to the expiration or earlier termination Port Authority, its successors and assigns, all the rights, rights of renewal, licenses, privileges and options of the Lessee granted by the Existing Lease with respect to the surrendered premises, all to the intent and purpose that the said term under the Existing Lease and the said rights of renewal, licenses, privileges and options may be wholly merged, extinguished and determined on the Surrender Date with the same force and effect as if the said term were in and by the provisions of the Existing Lease originally fixed to expire on such date.
(collectivelyc) In consideration of the making of this Agreement by the Port Authority, the "Surviving Obligations"). Tenant Lessee hereby acknowledges agrees to terminate its occupancy of the surrendered premises and agrees to deliver actual physical possession of the same to the Port Authority on or before the Surrender Date, in the condition required by the Existing Lease upon surrender, provided, that, notwithstanding anything to the contrary set forth contained in the Existing Lease, the Surviving Obligations Lessee shall includenot be required to remove or change any of the construction and installation work performed, without limitationor any improvements made, Tenant's indemnification obligationsin the premises as defined in the Existing Lease, reconciliation payments due but the Lessee may at its option remove items of construction and owing on account of operating expenses and/or other charges that became due and owing installation work it has installed in the premises under the Existing Lease. The Lessee further agrees that it will remove from the surrendered premises on or prior to the fifth (5th) business day following the Surrender Date all furniture, Tenant's obligation equipment, inventories, trade fixtures and other personal property of the Lessee or for which the Lessee is responsible and all substantial debris, repairing any damage to vacate and surrender the premises leased caused by Tenant pursuant such removal or the removal by the Lessee of any construction and installation work from the surrendered premises. In the event that the Lessee removes electrical or plumbing fixtures from the surrendered premises, whether as part of such removal or otherwise, the Lessee shall cap all altered electrical and plumbing lines flush with walls, floors and ceilings.
(d) In the event that the Surrender Date shall not occur on or prior to the Existing Lease (other than the Premises) in accordance with the terms and conditions of the Existing LeaseJuly 29, and Tenant's responsibility for any damages to the Premises during 1999, the term of the letting under the Existing Lease.
Lease shall hereby be extended through and including the Surrender Date, at an annual basic rental rate of One Million Three Hundred Seventy-six Thousand One Hundred Twelve Dollars and No Cents (b$1,376,112.00), payable in equal monthly installments of One Hundred Fourteen Thousand Six Hundred Seventy-six Dollars and No Cents ($114,676.00) Releases.commencing on July 30, 1999, and on the first day of each calendar month thereafter,
Appears in 1 contract
Sources: Lease Agreement (KBW Inc)
Existing Lease. (a) Landlord and Tenant hereby acknowledge and agree that Tenant currently occupies the Premises (together with certain other space within the Projecti) pursuant to the terms of Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain Lease Agreement dated November 30, 2006 (the “Allscripts Lease”), pursuant to which Corning Road, L.L.C. leased to Allscripts approximately 10,273 rentable square feet of space (the “Existing Premises”) in that certain office building now owned by Landlord and commonly known as of March 29, 2004 between Landlord's predecessor-in-interest (MCrossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ Office Park Investors LLC▇▇▇▇, Cary, North Carolina (the “Crossroads I Building”), (ii) Tenant and Allscripts entered into that certain Sublease Agreement dated December 3, 2008 (the “Sublease”), pursuant to which Tenant subleased the Existing Premises from Allscripts, and (iii) as of the date hereof, the Allscripts Lease and the Sublease have been terminated. Between the date of this Lease and the Commencement Date, (x) Landlord and Tenant hereby acknowledge and agree that Tenant shall have the right to remain in possession of the Existing Premises pursuant to the terms of this Lease, (as amendedy) for the purposes of construing Tenant’s obligations in relation to the Existing Premises under the terms of this Lease, all references in this Lease to the "“Premises” shall include the Existing Lease")Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. Until On or before the Commencement Date, Tenant shall continue to perform all of its obligations under vacate the Existing Lease (including, without limitation, Premises and return possession thereof to Landlord in broom-clean condition. Between the timely payment of rent date hereof and all other charges thereunder). Effective as of the Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Lease (collectivelyPremises, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations which payments shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) be made in accordance with the terms and conditions provisions of the Existing Lease, and Tenant's responsibility for any damages to the Premises during the term of the Existing LeaseSection 3 hereof.
(b) Releases.
Appears in 1 contract
Sources: Lease Agreement (Amber Road, Inc.)
Existing Lease. (a) Landlord The Port Authority and Tenant acknowledge and agree that Tenant currently occupies the Premises (together with certain other space within the Project) pursuant to the terms Lessee's predecessor in interest, The First Boston Corporation, have heretofore entered into an agreement of that certain Lease Agreement lease dated as of March 29May 10, 2004 between Landlord's predecessor1979, and identified by Port Authority Lease No. WT-2209-in-interest N-6 (M▇▇▇▇▇▇ Office Park Investors LLC) 1497), which agreement of lease, as the same has been heretofore supplemented and Tenant (as amended, is hereinafter called the "Existing Lease".
(b) Effective as of 11:59 o'clock P.M. on December 31, 1998 (which date and hour is hereinafter referred to as the "Existing Lease Surrender Date"). Until , the Commencement DateLessee hereby surrenders and yields up and does by these presents grant, Tenant shall continue bargain, sell, surrender and yield up to perform all of the Port Authority, its obligations successors and assigns, forever the entire premises under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective as of the Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant such premises under the Existing Lease or at law which survive being hereinafter referred to as the expiration or earlier termination "Existing Premises") and the term of years with respect thereto under the Existing Lease yet to come, and has given, granted and surrendered and by these presents does give, grant and surrender to the Port Authority, its successors and assigns, all the rights, rights of renewal, licenses, privileges and options of the Lessee granted by the Existing Lease with respect to the Existing Premises, all to the intent and purpose that the said term under the Existing Lease and the said rights of renewal, licenses, privileges and options may be wholly merged, extinguished and determined on the Existing Lease Surrender Date with the same force and effect as if the said term were in, and by the provisions of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges originally fixed to expire on such date and agrees that, notwithstanding anything further to the contrary set forth extent and purpose that all obligations and rights of the parties under the Existing Lease end on the Existing Lease Surrender Date except for accrued obligations which are unpaid or unsatisfied thereunder on such Existing Lease Surrender Date.
(c) The Lessee shall not be required to remove or change any of the construction or installation work performed, or any improvements made, in the Existing LeasePremises, the Surviving Obligations shall includeor to remove therefrom any furniture, without limitationequipment, Tenant's indemnification obligationssigns, reconciliation payments due and owing on account of operating expenses inventories, trade fixtures and/or other charges that became due and owing under personal property of the Lessee or for which the Lessee is responsible as of the Existing Lease, TenantLease Surrender Date. The Lessee's obligation to vacate and surrender continued occupancy of the premises leased by Tenant Existing Premises after the Existing Lease Surrender Date pursuant to the provisions of this Agreement shall be deemed delivery by the Lessee to the Port Authority of the Existing Lease Premises for the purposes of paragraph (other than b) of this Section.
(d) The Lessee shall have the Premises) non-exclusive right, subject to and in accordance with the terms and conditions of the Existing Leasethis Agreement, to continue to use, maintain and Tenant's responsibility replace for any damages to the Premises during the term of the letting hereunder all ducts and conduits it was permitted to use under the Existing Lease solely for the purposes it was permitted to use same for its operations under the Existing Lease.
(b) Releases.
Appears in 1 contract
Sources: Lease Agreement (Credit Suisse First Boston Usa Inc)
Existing Lease. (a) Landlord Tenant acknowledges and Tenant acknowledge and agree agrees that Tenant currently occupies the entire Premises (together with certain other space within the Project) pursuant to the terms of that certain Office Lease Agreement dated as of March 29, 2004 between Landlord's predecessor-in-interest (MECT ▇▇▇▇▇▇▇▇▇ Office Park Investors LLCLLC (Landlord’s predecessor-in-interest) and Tenant dated February 23, 2005 (the “Original Lease”), which was amended by that First Amendment to Lease dated March 9, 2006, by that Second Amendment to Lease dated December 19,2006, by that Third Amendment to Lease dated May 15,2007, by that Forth Amendment to Lease dated December 12, 2007, by that Fifth Amendment to Lease dated March 11,2011, by that Sixth Amendment to Lease dated June 10,2011, by that Seventh Amendment to Lease dated October 3, 2011, and by that Eighth Amendment To Lease dated January 18,2012. The Original Lease, as so amended, is hereinafter referred to as the "“Existing Lease".” Landlord and Tenant agree that the Existing Lease is in full force and effect and shall expire at 11:59 p.m. Pacific Time on July 31, 2015. On and after the Lease Date, Tenant shall not have any right to exercise any options to renew, extend or expand (if any), or rights of first offer or first refusal (if any), or other similar rights (if any) that may exist under the Existing Lease. Until Except to the extent that certain provisions of this Lease are stated to apply to Tenant, the Premises and Tenant’s Work pursuant to Exhibit B prior to the Commencement DateDate of this Lease, Tenant shall continue to perform all of its obligations under lease the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective as of the Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant Premises pursuant to the Existing Lease (other than the Premises) in accordance with the terms and conditions of the Existing Lease, and Tenant's responsibility for any damages prior to the Premises during the term Commencement Date of the Existing this Lease.
(b) Releases.
Appears in 1 contract
Sources: Sublease (Gymboree Corp)
Existing Lease. (a) Landlord and Tenant acknowledge and agree that Tenant currently occupies the Premises (together with certain other space within the Project) pursuant to the terms of that certain Lease Agreement dated acknowledges that, as of March 29, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) and Tenant (as amended, the "Existing Lease"). Until the Commencement Lease Date, Tenant shall continue to perform all of its obligations occupies the Existing Premises under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective as of the Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) in accordance with the terms and conditions of the Existing Lease, and that, subject to the terms of this Lease, Tenant's responsibility for any damages ’s rights and obligations with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees to vacate and surrender possession of the Existing Premises and to complete the relocation of its business operations to the Premises during no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms of this Lease. Subject to the foregoing, the Existing Lease shall be deemed terminated as of the Existing Premises Surrender Date, and Tenant shall have no further responsibility or obligations with respect to the Existing Premises except as provided in Section 2.2(b).
(b) ReleasesNothing herein is intended as a release of Tenant of any obligations under the Existing Lease to pay Operating Expenses and Tax Expenses accruing prior to the later to occur of the Rent Commencement Date and, if Tenant does not surrender the Existing Premises on or before the Existing Premises Surrender Date, the actual date of surrender of the Existing Premises in the condition required by this Section 2.2(a) (the “Existing Lease Early Termination Date”) and, in addition, shall not be a release by Landlord of any claim or right of indemnification by Tenant for any third party claims filed prior to or after the Existing Lease Early Termination Date and relating to the use and/or occupancy of the Existing Premises by Tenant or any of its, employees, agents, contractors customers or invitees.
Appears in 1 contract
Existing Lease. (a) Landlord Lessee is currently the tenant and Tenant acknowledge and agree that Tenant Lessor is currently occupies the Premises (together with certain other space within the Project) pursuant to the terms of landlord under that certain Lease Agreement Lease, dated as of March 29February 11, 2004 between Landlord's predecessor-in-interest 1986, as the same has been amended by that certain First Amendment to Lease, dated as of June 1, 1988 and that certain Second Amendment to Lease, dated as of September 14, 1992 (M▇▇▇▇▇▇ Office Park Investors LLC) and Tenant (as amendedcollectively, the "Existing Lease"), pursuant to which Lessee currently leases space on the 26th and 35th floors of the Building (the "Existing Space"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under Lessor and Lessee hereby agree that the Existing Lease is modified as follows:
(including, without limitation, a) From and after the timely payment of rent and all other charges thereunder). Effective as of Date until the Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination date of the Existing Lease (collectivelyas the same may be extended in accordance with subsection (b) hereinbelow), Lessee shall pay to Lessor as the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything annual Base Rent under the Existing Lease an amount equal to the contrary set forth $16.75 per rentable square foot contained in the Existing Lease, the Surviving Obligations Space. Such Base Rent shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation continue to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) be paid in accordance with the terms and conditions of the Existing Lease, and Tenant's responsibility for any damages to the Premises during the term of the Existing Lease.
(b) ReleasesThe Existing Lease shall terminate as of March 31, 1996 as though such date were the termination date set forth in the Lease; provided, however, such termination date shall be extended for each day that the Commencement Date is delayed as a result of Lessor's Delay; provided, however, that the termination date of the Existing Lease shall not be extended to the extent that any Lessor's Delay results from Lessee Delay. Notwithstanding any provision in the Existing Lease to the contrary, Lessee shall not be required to pay any termination fee in connection with such termination of the Existing Lease. Notwithstanding any provision in this Section 32 or any other provision in this Lease to the contrary, Lessee shall not be excused from paying Base Rent, Additional Rent and any other sums due and owing or performing any of its other obligations under the Existing Lease accruing through March 31, 1996.
Appears in 1 contract
Existing Lease. (a) Landlord and Tenant acknowledge and agree that Tenant currently occupies the Premises (together with certain other space within the Project) pursuant Pursuant to the terms of that certain Lease Agreement dated as of March 29, 2004 between Landlord's predecessor-in-interest (M▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Office Park Investors LLCLease Agreement (the “SpikeSource Lease”) between Landlord and Tenant SpikeSource, Inc., a Delaware corporation (as amended, the "Existing Lease"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective “SpikeSource”) dated as of June 29, 2009, Landlord leased the Commencement DatePremises to SpikeSource. By written agreement dated of even date herewith, Landlord and SpikeSource have agreed to terminate the Existing SpikeSource Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) in accordance with the terms and conditions set forth therein, which terms and conditions include the obligation of SpikeSource to (i) transfer all of its interest in the Furniture to Landlord and leave the Furniture in the Premises, and (ii) pay the commissions of Tenant’s broker, CresaPartners, and SpikeSource’s broker, Cornish & ▇▇▇▇▇, which are payable in connection with this Lease. Landlord shall not be in breach of this Lease, Tenant shall have no right to terminate this Lease (except as provided in the next following sentence), and Landlord shall have no liability to Tenant, on account of the Existing Leasefailure on the part of SpikeSource to either leave the Furniture in the Premises or to pay said commissions. Notwithstanding the foregoing, and Tenant's responsibility for if SpikeSource fails to leave any damages of the Furniture in the Premises (beyond a de minimis amount), Tenant may give Landlord written notice of such fact no later than 5:00 p.m. on December 21, 2010. Landlord shall thereupon give Tenant written notice, no later than noon on December 23, 2010, if it is willing to replace the missing Furniture. If Landlord gives written notice to Tenant of its willingness to replace the missing Furniture it shall do so promptly. If Landlord gives written notice to Tenant that it is unwilling to replace the missing Furniture or fails to give Tenant any written notice, Tenant shall have the right, as its sole remedy, to terminate this Lease by giving Landlord written notice of such termination no later than noon on December 24, 2010. Notices under the immediately preceding sentence shall be given by e-mail to the Premises during the term of the Existing Lease.
(b) Releases.following addresses: If to Landlord: [email addresses]; If to Tenant: [email addresses]
Appears in 1 contract
Sources: Lease Agreement (Audience Inc)
Existing Lease. (a) Landlord and Tenant acknowledge Sigma Computing, Inc., a Delaware corporation (“Sigma”) are parties to that certain: (i) Office Lease dated as of June 6, 2018 (the “Original Lease”); and agree that Tenant currently occupies (ii) Amendment to Lease dated as of October 8, 2018 (the “First Amendment”). The Original Lease and the First Amendment are collectively referred to herein as the “Existing Lease.” Pursuant to the Existing Lease, Landlord leases to Sigma and Sigma leases from Landlord the Premises. Sigma subleased the Premises to Landed, Inc., a Delaware corporation (together with certain other space within the Project“Landed”) pursuant to the terms of that certain Lease Sublease Agreement dated as of March 29November 15, 2004 2021 (“Sublease”), by and between Sigma and Landed, as consented to by Landlord pursuant to that certain Consent to Sublease dated December 22, 2021, among Landlord's predecessor, Sigma and Landed. Tenant is currently in possession of the entire Premises pursuant to that certain Sub-inSublease Agreement dated as of October 28, 2022 (the “Sub-interest (M▇▇▇▇▇▇ Office Park Investors LLC) Sublease”), by and Tenant (between Landed and Tenant, as amendedconsented to by Landlord pursuant to that certain Consent to Sub-Sublease dated January 20, 2023 among Landlord, Sigma, Landed and Tenant. The Existing Lease, the "Existing Lease"). Until Sublease and the Sub-Sublease will each expire in accordance with its terms as of 11:59 P.M. on the day before the Lease Commencement Date; provided, Tenant shall continue to perform all of its obligations under the Existing Lease (includinghowever, without limitation, the timely payment of rent and all other charges thereunder). Effective as of the Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities that notwithstanding such termination or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations Sublease or the Sub-Sublease to the contrary, Tenant shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation not be obligated to vacate and surrender possession of the premises leased by Premises to Landlord since Tenant will be leasing the Premises directly from Landlord pursuant to the Existing this Lease (other than the Premises) in accordance with the terms and conditions immediately following such termination of the Existing Lease, Sublease and Tenant's responsibility for any damages Sub-Sublease. In addition, Landlord shall have no obligation to deliver the Premises during the term to Tenant free and clear of the Existing Leaseoccupancy of Sigma or Landed; provided, however, that as between Landlord and the Sigma and Landed, Sigma and Landed shall have no right to lease or otherwise occupy the Premises and Tenant shall be solely responsible for ensuring that Sigma or Landed vacate the Premises.
(b) Releases.
Appears in 1 contract
Existing Lease. (a) Landlord and Tenant acknowledge and agree that Tenant Lessee is currently occupies the Premises (together with certain occupying other space within in the Project) building pursuant to a lease between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the terms owner of that certain Lease Agreement the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as of March 29, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) and Tenant thereafter amended (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27, 1993. Until Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that the Commencement Date, Tenant Existing Lease and the respective rights and obligations of the parties thereunder shall continue to perform in full force and effect upon all of its obligations under terms and conditions (except as to its expiration date) until the Existing Lease Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date of the initial term of this lease (includingor, without limitation, the timely payment of rent and all other charges thereunder). Effective as of if this lease is for any reason terminated prior to the Commencement Date, the Existing Lease shall automatically terminate and neither Landlord nor Tenant shall have any rightson the later of the date on which this lease terminates or February 28, liabilities or obligations thereunder1994), except those obligations for liabilities accrued to the date of Tenant such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease or at law which survive through the expiration or earlier date of such termination of and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that (collectivelyi) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, the "Surviving Obligations"). Tenant hereby acknowledges furniture and agrees thatequipment, notwithstanding anything to the contrary set forth in the Existing Leaseincluding safety deposit boxes, the Surviving Obligations ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's have no obligation to vacate and surrender (a) restore or repair the premises leased by Tenant demised pursuant to the Existing Lease (other than at the Premises) in accordance with the terms and conditions of the Existing Leasetermination thereof, and Tenant's responsibility for any damages to the Premises during the term of the Existing Lease.
(b) Releasesremove the vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of this lease.
Appears in 1 contract
Existing Lease. (a) Landlord and Tenant acknowledge and agree that Tenant is currently occupies the Premises (together with certain other space within the Project) pursuant to the terms of that certain Lease Agreement dated as of March 29, 2004 between Landlord's predecessor-in-interest (M▇▇a tenant at 2840 San T▇▇▇▇ Expressway, one of the Other Buildings located on the Real Property (the “Existing Space”) pursuant to an Office Park Investors LLC) Lease dated June 11, 1990, as amended and Tenant assigned (as amended, the "“Existing Lease"”). Until The Existing Lease is hereby extended from the expiration date thereof, i.e., March 31, 2006, through the fifth (5th) business day following the Commencement Date, Tenant shall continue to perform all of its obligations under Date hereunder (the “Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunderSpace Holdover Period”). Effective as of the Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding Notwithstanding anything to the contrary set forth in the Existing Lease, Tenant’s Base Rent for the Surviving Obligations Existing Space for the entirety of the Existing Space Holdover Period (but excluding the five (5) business days following the Commencement Date for which Base Rent shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due not be charged on the Existing Space) shall be Fifty-Three Thousand Three Hundred Sixty-One and owing on account 00/100 Dollars ($53,361.00) per month. Tenant shall continue to be liable for its proportionate share of operating expenses and/or Direct Expenses and any other charges that became due and owing additional rent amounts accruing under the Existing Lease, Tenant's obligation to vacate and Lease until its expiration as provided herein. Tenant shall surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) Space in accordance with the terms and conditions of the Existing Lease, and Tenant's responsibility . In the event of termination of this Lease for any damages reason prior to Tenant’s relocation from the Existing Space to the Premises, the Existing Space Holdover Period shall terminate thirty (30) days following the date of such Lease termination and Tenant shall surrender the Premises by the end of such extended Existing Space Holdover Period. If Tenant fails to timely surrender the Existing Space as required hereunder, Tenant shall be liable for holdover rent as originally provided in the Existing Lease. In the event the Commencement Date does not occur by September 29, 2006 as a result of Landlord Delay (hereinafter defined), the Base Rent for the Existing Space during the term remainder of the Existing Lease.
Space Holdover Period thereafter occurring (bbut excluding the five (5) Releases.business days following the Commencement Date for which Base Rent shall not be charged on the Existing Space) shall be reduced to $22,530.20 per month (payable on a per diem basis). The term “
Appears in 1 contract
Sources: Office Lease (Intervoice Inc)
Existing Lease. (a) Landlord and Tenant acknowledge and hereby agree that the holdover term of the Existing Lease shall expire on October 31, 2006 (the “Existing Lease Expiration Date”).; provided that Tenant currently occupies shall have the Premises right to extend the Existing Lease Expiration Date for a period of one (together with certain other space within 1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Project) pursuant to Existing Space through the terms of that certain Existing Lease Agreement dated as of March 29, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) and Tenant Expiration Date (as amendedit may have been extended) shall continue to be $53,361.00 per month, the "Existing Lease"). Until the Commencement Date, and Tenant shall continue to perform all be liable for its proportionate share of its obligations Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease (including, without limitation, the timely payment until its expiration as herein provided. All terms of rent and all other charges thereunder). Effective as of the Commencement Date, the Existing Lease shall terminate continue in full force and neither Landlord nor Tenant shall have any rightseffect, liabilities or obligations thereunder, except those obligations of Tenant under including without limitation the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations")surrender provisions thereof. Tenant hereby acknowledges and agrees that, notwithstanding Notwithstanding anything to the contrary set forth herein or in the Existing Lease, Tenant shall have the Surviving Obligations right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall include, without limitation, have no obligation to restore the Existing Space to the condition it was in at the time of its delivery to Tenant's indemnification obligations, reconciliation payments due and owing on account . Landlord acknowledges that it currently holds a security deposit of operating expenses and/or other charges that became due and owing $182,132.43 under the Existing Lease, Tenant's obligation which shall be returned to vacate and surrender the premises leased by Tenant pursuant to following the Existing Lease Expiration Date (other than the Premisesas it may have been extended) subject to and in accordance with the terms and conditions of the Existing LeaseLease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, and as it may have been extended (subject to Tenant's responsibility for any damages ’s rights with respect to the Premises during Permitted Holdover Period, as set forth below), including without limitation the term right to increase the monthly base rent thereunder as provided in Section 24 of the Existing LeaseLease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in the required condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover.
(b) Releases.
Appears in 1 contract
Existing Lease. (a) The parties acknowledge that Landlord currently leases to Tenant and Tenant acknowledge currently leases from Landlord Suite 1200 and agree that Tenant currently occupies Suite 2700 in the Premises Tower (together with certain other space within the Project“Existing Premises”) and Suite 2510 in the Tower (the “25th Floor Space”) pursuant to the terms of that certain Office Lease Agreement dated May 30, 2006, as amended by First Amendment to Lease dated January 15, 2007, by Second Amendment to Lease dated February 27, 2007, by Third Amendment to Lease dated as of March 29May 5, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) 2008 and Tenant by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the "“Existing Lease"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder”). Effective as of the date which is sixty (60) days after the Commencement DateDate under this Lease, Tenant’s lease of the Existing Premises under the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities be of no further force or obligations thereunder, effect (except for those obligations provisions of Tenant under the Existing Lease or at law which which, by their terms, expressly survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"Lease). Tenant hereby acknowledges and agrees thatThe period from the Commencement Date under this Lease through the date which is sixty (60) days thereafter may be referred to herein as the “Moving Period”. However, notwithstanding anything to the contrary set forth contained in the Existing Lease, the Surviving Obligations Tenant shall includehave no obligation to pay Base Rent, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under Expenses or Taxes (as those terms are defined in the Existing Lease, Tenant's obligation to vacate and surrender ) for the premises leased by Tenant Existing Premises pursuant to the Existing Lease attributable to such sixty (other than 60) day Moving Period. Should Tenant fail to vacate the Premises) Existing Premises and surrender the Existing Premises to Landlord on or before the expiration of the Moving Period, the holdover provisions of the Existing Lease shall apply. Notwithstanding anything to the contrary contained in accordance with the terms and conditions of the Existing Lease, Tenant need not restore the Existing Premises to its original condition or remove any improvements from the Existing Premises; provided, however, that Tenant shall be required to remove all furniture, equipment and personal property from the Existing Premises and to remove cabling from the Existing Premises so designated for removal (to the applicable telephone closet(s)) by Landlord and shall return such space to Landlord in broom-clean condition. The parties acknowledge that Tenant’s lease of the 25th Floor Space pursuant to the Existing Lease shall not be terminated under this Section 35(a) and Tenant's responsibility for any damages to the Premises during the term ’s lease of the Existing Lease25th Floor Space shall continue as provided in the Fourth Amendment to Lease dated August 7, 2009.
(b) Releases.
Appears in 1 contract
Sources: Standard Office Lease (Coinstar Inc)
Existing Lease. If the Existing Lease terminates with respect to the Must- Take Space prior to December 31, 2010 and the Tibco Sublease has not been previously terminated for any reason, the Tibco Sublease automatically shall be deemed terminated as of the date of termination of the Existing Lease (the “Early Termination Date”), the Must-Take Effective Date automatically shall be accelerated to the day immediately following the Early Termination Date (the “Advance Must-Take Effective Date”), Tenant shall be deemed to have taken possession of the Must-Take Space pursuant to the terms of the Lease and this Must-Take provision as of the Advance Must-Take Effective Date, and the terms and conditions of this Lease applicable to the Must-Take Space shall be in full force and effect with respect to the Must-Take Space as of the Advance Must-Take Effective Date, except that (a) the Must-Take Term shall be extended to include the period commencing upon the Advance Must-Take Effective Date through and including December 31, 2010 (such period being referred to herein as the “Advance Must-Take Term”), and (b) the Base Rent for the Must-Take Space during the Advance Must-Take Term shall be the then Prevailing Market rate for the Must-Take Space, as determined in accordance with Subsection F below, as modified by this paragraph, provided that there shall be no Minimum Initial Base Rent or Maximum Initial Base Rent for such purposes. Landlord and Tenant acknowledge and agree that Tenant currently occupies the Premises (together with certain other space within determination of Base Rent for the Project) pursuant to Advance Must-Take Term is independent of and shall not affect in any way the terms determination of that certain Lease Agreement dated as of March 29, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) and Tenant (as amended, Base Rent for the "Existing Lease"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective as remainder of the Commencement DateMust-Take Term, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary as set forth in Subsection F below. In the Existing Lease, event that the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account Tibco Sublease is in effect but Tenant has not yet taken possession of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) in accordance with the terms and conditions a portion of the Existing LeaseMust-Take Space by the Advance Must-Take Effective Date, then Tenant shall take possession of such portion of the Must-Take Space, in its then as-is condition, immediately upon Landlord’s recovery of possession thereof, and Tenant's responsibility Tenant shall not be required to pay Rent with respect to such portion until Landlord has so recovered possession. Promptly following the Early Termination Date, if any (regardless of whether such date is prior to April 1, 2010, notwithstanding Paragraph F.1 below), Landlord shall commence the procedure set forth in Subsection F below for any damages to determining the Premises Prevailing Market rate for the Must-Take Space during the term of the Existing LeaseAdvance Term.
(b) Releases.
Appears in 1 contract
Sources: Research and Development/Office Lease (Affymax Inc)
Existing Lease. (a) Landlord and Tenant acknowledge and agree that Landlord and Helion Energy, Inc., a Delaware corporation (the “Existing Tenant”), are the current parties to that certain Lease, originally entered into between Calwest Industrial Properties, LLC, a California limited liability company (“Original Landlord”), as landlord, and Existing Tenant, as tenant, dated March 17, 2015 (the “Original Helion Lease”), as subsequently amended by that certain (i) First Amendment to Lease, dated as of May 4, 2020, (ii) Second Amendment to Lease, dated as of April 13, 2021, (iii) letter from Landlord dated July 28, 2021, and (iv) Third Amendment to Lease, dated as of April 21, 2022 (the Original Helion Lease, as heretofore amended, being referred to herein as the “Existing Lease”), for certain premises containing a total of 46,939 rentable square feet (being comprised of 27,984 rentable square feet of office space and 18,955 rentable square feet of warehouse space), designated as Suite 100, Suite 120, Suite 230 and Suite 250 in the Building (such space referred to herein as the “Helion Existing Premises”), for a term which is stipulated to expire by its own terms on July 31, 2024. Landlord and Tenant currently occupies further acknowledge and agree that Tenant and the Existing Tenant are parties to that certain Sublease Agreement dated effective as of July 13, 2023 (the “Existing Sublease”), whereby Tenant is subletting from the Existing Tenant a portion of the Existing Helion Premises consisting of 15,567 square feet of rentable area in the Building (being comprised of (i) 11,912 rentable square feet of office space (collectively, the “Subleased Office Space”) and 3,655 rentable square feet of warehouse space (the “Subleased Warehouse Space”), in the aggregate, designated as Suite 120 and Suite 250 in the Building (the Subleased Office Space and Subleased Warehouse Space being collectively referred to herein as the “Subleased Premises”), and which Existing Sublease was consented to by Landlord pursuant to that certain Consent by Landlord to Sublease Agreement, between Landlord, Existing Tenant and Tenant (the “Consent to Sublease”). Consequently, the Premises (together with certain other being a portion of the same space within as the ProjectHelion Existing Premises and all of the Subleased Premises) will be occupied by Tenant pursuant to the terms of the Existing Sublease through July 31, 2024. Notwithstanding the foregoing, subject to Paragraph 34(bb) below, Landlord and Tenant acknowledge and agree that certain Landlord’s delivery of the Premises to Tenant under the terms of this Lease Agreement dated is expressly conditioned upon Existing ▇▇▇▇▇▇’s vacating and surrendering the Subleased Premises to Landlord in compliance with the Existing Lease and all applicable legal requirements on and as of March 29July 31, 2004 between Landlord's predecessor-in-interest 2024 (Mbeing the termination date of the Existing Lease). ▇▇▇▇▇▇▇▇ Office Park Investors LLC) agrees to use commercially reasonable efforts to cause Existing Tenant to surrender the Subleased Premises to Landlord on and Tenant (as amended, the "Existing Lease"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective as of July 31, 2024 (such date being referred to herein as the Commencement “Existing Tenant Surrender Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"”). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) in accordance with the terms and conditions of the Existing Lease, and Tenant's responsibility for any damages to the Premises during the term of the Existing Lease.
(b) Releases.
Appears in 1 contract
Existing Lease. (a) The parties acknowledge that Landlord currently leases to Tenant and Tenant acknowledge currently leases from Landlord Suite 1200 and agree that Tenant currently occupies Suite 2700 in the Premises Tower (together with certain other space within the Project“Existing Premises”) and Suite 2510 in the Tower (the “25th Floor Space”) pursuant to the terms of that certain Office Lease Agreement dated May 30, 2006, as amended by First Amendment to Lease dated January 15, 2007, by Second Amendment to Lease dated February 27, 2007, by Third Amendment to Lease dated as of March 29May 5, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) 2008 and Tenant by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the "“Existing Lease"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder”). Effective as of the date which is sixty (60) days after the Commencement DateDate under this Lease, Tenant’s lease of the Existing Premises under the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities be of no further force or obligations thereunder, effect (except for those obligations provisions of Tenant under the Existing Lease or at law which which, by their terms, expressly survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"Lease). Tenant hereby acknowledges and agrees thatThe period from the Commencement Date under this Lease through the date which is sixty (60) days thereafter may be referred to herein as the “Moving Period”. However, notwithstanding anything to the contrary set forth contained in the Existing Lease, Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (as those terms are defined in the Surviving Obligations Existing Lease) for the Existing Premises pursuant to the Existing -41- Lease attributable to such sixty (60) day Moving Period. Should Tenant fail to vacate the Existing Premises and surrender the Existing Premises to Landlord on or before the expiration of the Moving Period, the holdover provisions of the Existing Lease shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under apply. Notwithstanding anything to the contrary contained in the Existing Lease, Tenant need not restore the Existing Premises to its original condition or remove any improvements from the Existing Premises; provided, however, that Tenant shall be required to remove all furniture, equipment and personal property from the Existing Premises and to remove cabling from the Existing Premises so designated for removal (to the applicable telephone closet(s)) by Landlord and shall return such space to Landlord in broom-clean condition. The parties acknowledge that Tenant's obligation to vacate and surrender ’s lease of the premises leased by Tenant 25th Floor Space pursuant to the Existing Lease (other than the Premisesshall not be terminated under this Section 35(a) in accordance with the terms and conditions Tenant’s lease of the Existing Lease25th Floor Space shall continue as provided in the Fourth Amendment to Lease dated August 7, and Tenant's responsibility for any damages to the Premises during the term of the Existing Lease2009.
(b) Releases.
Appears in 1 contract
Sources: Standard Office Lease
Existing Lease. (a) Landlord and Tenant The parties hereby acknowledge and agree that Tenant currently occupies the Premises (together with certain other space within the Project) pursuant to the terms of that certain this Lease Agreement dated as of March 29, 2004 between Landlord's predecessor-in-interest (M▇▇▇▇▇▇ Office Park Investors LLC) amends and Tenant (as amended, the "Existing Lease"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under restates the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective in its entirety as of the First Commencement Date. As an inducement to each party to execute this Lease, each party hereby represents, warrants, and covenants to the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease other party as follows:
(collectively, the "Surviving Obligations"). a) Tenant hereby acknowledges and agrees thatcertifies to Landlord as follows: (i) all conditions of this Lease necessary for the enforceability of this Lease have been satisfied or waived, notwithstanding anything (ii) to the contrary set forth best of Tenant’s current, actual knowledge, Landlord is currently not in the Existing Lease, the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing default under the Existing Lease, Tenant's obligation to vacate and surrender (iii) as of the premises leased by Tenant pursuant date hereof, to the Existing Lease (other than best of Tenant’s current, actual knowledge, there are no existing claims, defenses or offsets that Tenant has against Landlord nor, to Tenant’s current, actual knowledge, have any events occurred that would constitute a default on the Premises) in accordance with the terms and conditions part of Landlord under the Existing Lease, and Tenant's responsibility for (iv) except as provided otherwise in this Lease, Landlord is not required to perform, nor contribute any damages allowance for, any additional improvements to the Premises during Premises.
(b) Landlord hereby certifies to Tenant as follows: (i) all conditions of this Lease necessary for the term enforceability of this Lease have been satisfied or waived, (ii) to the best of Landlord’s current, actual knowledge, Tenant is currently not in default under the Existing Lease, and (iii) to the best as of Landlord’s current, actual knowledge, as of the date hereof, there are no existing claims, defenses or offsets that Landlord has against Tenant nor, to Landlord’s current, actual knowledge, have any events occurred that would constitute a default on the part of Tenant under the Existing Lease.
(bc) ReleasesNotwithstanding anything to the contrary in this Section 2.2, Tenant hereby reserves all rights, causes of action, demands, offsets, defenses, and other claims that it may now or hereafter have against Landlord as a result of, or in any way related to improper charges, overcharges, or other amounts which have been charged, billed, demanded or assessed against the Tenant and arising out of Landlord's billing or calculation of charges based upon, including, but not limited to rent, operating expenses, CAM (common area maintenance), labor rates, real estate taxes, insurance, sundry charges, and electric charges or any other charges for additional rent or escalations or services, if and to the extent such rights are contained in the Existing Lease.
Appears in 1 contract
Sources: Office Lease (KBS Real Estate Investment Trust II, Inc.)
Existing Lease. (aA) Landlord and Tenant hereby acknowledge that American Capital Access Service Corporation, Tenant’s subsidiary, is presently in possession of the entire 47th floor of the Building and agree that Tenant currently occupies a portion of the Premises 48th floor of the Building (together with certain other space within collectively, the Project“Existing Premises”) as more particularly shown in Exhibit A-1 annexed hereto pursuant to the terms of (i) that certain Lease Agreement dated as of March 29August 7, 2004 1998 (the “1998 Lease”) by and between Landlord's predecessor-in-interest (MMSDW ▇▇▇ ▇▇▇▇▇▇▇▇ Office Park Investors LLCProperty, L.L.C., as predecessor-in-interest to Landlord, as landlord, and American Capital Access Service Corporation, as predecessor-in-interest to Tenant, as tenant, together with and as modified by (i) First Amendment of Lease dated May 21, 1999 (the “First Amendment”; the 1998 Lease and Tenant (as amendedthe First Amendment are, collectively, the "“Existing Lease"”). Until The Existing Lease shall expire by its terms on August 31, 2009. Landlord agrees to credit the Commencement Date, Tenant shall continue to perform all of its obligations security deposit held under the Existing Lease (including, without limitation, towards the timely payment of rent and all other charges thereunder)Security Deposit due under this Lease. Effective as of Prior to the Existing Premises Commencement Date, the Existing Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) in accordance with the terms and conditions of the Existing Lease shall govern the occupancy of the Existing Premises; provided, however that (i) the provisions of Article Seventh and Article Eighth of the Existing Lease (Refusal Space and Option Space) are hereby deleted and of no further force or effect and (ii) Tenant may elect to perform Tenant’s Initial Alteration prior to Commencement Date, subject to the provisions of Article 2 hereof.
(B) Effective as of the Additional Premises Commencement Date, the Premises shall be deemed to consist of (i) the Existing Premises and (ii) an additional portion of the 48th floor of the Building (the “Additional Premises”) as more particularly shown on Exhibit A-2 annexed hereto, and the term “Premises” shall mean the Existing Premises and the Additional Premises. Tenant acknowledges the Additional Premises are occupied by Platinum Technology International, Inc. (“Platinum”), another tenant of the Building under the terms of a lease which shall expire as of October 31, 2009 (the “Platinum Lease”). Landlord acknowledges that Platinum, as sublandlord and Tenant, as subtenant, have entered into a sublease dated October 19, 2006 (the “ACA Sublease”). The parties hereby acknowledge that the premises demised under the ACA Sublease (the “Sublease Premises”) are the same space as the Additional Premises demised under this Lease.
(C) Landlord and Tenant hereby acknowledge that any default by Tenant under the Existing Lease beyond the expiration of applicable notice and cure periods (or under the sublease affecting the Additional Premises) shall, at Landlord’s option, be deemed a default under the terms of this Lease. Notwithstanding anything to the contrary, in the event the Existing Lease (and/or the sublease affecting the Additional Premises) is terminated or expires pursuant to its terms prior to the Commencement Date of this Lease, and Tenant's responsibility for any damages or Landlord or Tenant exercise a right of termination pursuant to the Premises during the term terms of the Existing Lease.
, this Lease shall be deemed void ab initio. Upon such termination Landlord shall have the right to retain a portion of the Security Deposit as provided in Section 8.01 (bD) Releases.hereof. Any security deposit held under the Existing Lease may be applied towards payment of Tenant’s obligations under this Lease
Appears in 1 contract