Existing Lease. Landlord and Tenant hereby acknowledge and agree that (i) 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 Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, 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, (y) 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 Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions of Section 3 hereof.
Appears in 1 contract
Sources: Lease Agreement (Amber Road, Inc.)
Existing Lease. (A) 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 a portion of the 48th floor of the Building (i) Landlord’s predecessor in interestcollectively, 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”) as more particularly shown in Exhibit A-1 annexed hereto pursuant to the terms of (i) that certain office building now owned Lease dated August 7, 1998 (the “1998 Lease”) by Landlord and commonly known as Crossroads Office Building I located at ▇between MSDW ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇Property, CaryL.L.C., North Carolina 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 “Crossroads I BuildingFirst Amendment”; the 1998 Lease and the First Amendment are, collectively, the “Existing Lease”). The Existing Lease shall expire by its terms on August 31, 2009. Landlord agrees to credit the security deposit held under the Existing Lease towards the Security Deposit due under this Lease. Prior to the Existing Premises Commencement Date, 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 Allscripts entered into that certain Sublease Agreement dated December 3, 2008 (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”), pursuant to which Tenant subleased . The parties hereby acknowledge that the Existing premises demised under the ACA Sublease (the “Sublease Premises”) are the same space as the Additional Premises from Allscripts, and demised under this Lease.
(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, (xC) Landlord and Tenant hereby acknowledge and agree that any default by Tenant shall have the right to remain in possession of under the Existing Premises pursuant to Lease beyond the terms expiration of this Leaseapplicable notice and cure periods (or under the sublease affecting the Additional Premises) shall, (y) for the purposes of construing Tenantat Landlord’s obligations in relation to the Existing Premises option, be deemed a default under the terms of this Lease, all references in this Lease . Notwithstanding anything to the “Premises” shall include contrary, in the event the Existing Lease (and/or the sublease affecting the Additional Premises, and (z) all references in this Lease is terminated or expires pursuant to its terms prior to the Building shall include Commencement Date of this Lease, or Landlord or Tenant exercise a right of termination pursuant to the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease terms of the Existing PremisesLease, which payments this Lease shall be made deemed void ab initio. Upon such termination Landlord shall have the right to retain a portion of the Security Deposit as provided in accordance with Section 8.01 (D) hereof. Any security deposit held under the provisions Existing Lease may be applied towards payment of Section 3 hereof.Tenant’s obligations under this Lease
Appears in 1 contract
Existing Lease. Landlord and Tenant hereby acknowledge and agree that (i) Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into Pursuant to 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 Crossroads Office Building I located at ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Lease Agreement (the “SpikeSource Lease”) between Landlord and SpikeSource, Inc., a Delaware corporation (“SpikeSource”) dated as of June 29, 2009, Landlord leased the Premises to SpikeSource. By written agreement dated of even date herewith, Landlord and SpikeSource have agreed to terminate the SpikeSource Lease on 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 & ▇▇ ▇▇▇▇, Carywhich are payable in connection with this Lease. Landlord shall not be in breach of this Lease, North Carolina Tenant shall have no right to terminate this Lease (except as provided in the “Crossroads I Building”next following sentence), and Landlord shall have no liability to Tenant, on account of the failure on the part of SpikeSource to either leave the Furniture in the Premises or to pay said commissions. Notwithstanding the foregoing, if SpikeSource fails to leave any of the Furniture in the Premises (ii) Tenant and Allscripts entered into that certain Sublease Agreement dated December 3, 2008 (the “Sublease”beyond a de minimis amount), pursuant 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 which replace the missing Furniture. If Landlord gives written notice to Tenant subleased of its willingness to replace the Existing Premises from Allscriptsmissing 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, 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 right, as its sole remedy, to remain in possession terminate this Lease by giving Landlord written notice of such termination no later than noon on December 24, 2010. Notices under the Existing Premises pursuant immediately preceding sentence shall be given by e-mail to the terms of this Lease, (y) for the purposes of construing following addresses: If to Landlord: [email addresses]; If to 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 Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions of Section 3 hereof.: [email addresses]
Appears in 1 contract
Sources: Lease Agreement (Audience Inc)
Existing Lease. Landlord Lessee is currently occupying other space in the building pursuant to a lease between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership and Tenant Lessor's predecessor in interest as the owner of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby acknowledge agrees with Lessee, and agree Lessee hereby agrees with Lessor, that the Existing Lease and the respective rights and obligations of the parties thereunder shall continue in full force and effect upon all of its terms and conditions (except as to its expiration date) until the 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 (or, if this lease is for any reason terminated prior to the Commencement Date, the Existing Lease shall automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease through the date of such termination and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) 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 Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, 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 Lessee shall have the right (but not the obligation) to remain in possession relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no obligation to (a) restore or repair the Existing Premises premises demised pursuant to the terms Existing Lease at the termination thereof, (b) remove 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, (y) 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 Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions of Section 3 hereoflease.
Appears in 1 contract
Existing Lease. Landlord (a) The Port Authority, and Tenant hereby acknowledge the Lessee have heretofore entered into an agreement of lease, dated as of February 24, 1984, said agreement of lease, as the same has heretofore been supplemented and agree amended, being referred to herein as the "Existing Lease".
(b) Effective on the earlier of (1) the day subsequent to the Area A-1 Commencement Date that the Lessee shall, upon not less than forty-five (45) days' prior notice, vacate the entire premises under the Existing Lease (such premises being hereinafter referred to as the "surrendered premises") and deliver actual physical possession of the same 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) Landlord’s predecessor the date that the Lessee shall commence in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain Lease Area A any of the operations permitted by the Section of this Agreement dated November 30, 2006 (entitled "Rights of User by 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 Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Cary, North Carolina (the “Crossroads I Building”)Lessee", (ii) Tenant and Allscripts entered into the date that certain Sublease Agreement dated December 3the Lessee shall commence in Area A-1 any of the operations permitted by said Section, 2008 (the “Sublease”), pursuant to which Tenant subleased the Existing Premises from Allscripts, and or (iii) as June 1, 2002, in the event of the date hereofcancellation of the letting of Area A and Area 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"), the Allscripts Lessee hereby surrenders and yields up and does by these presents grant, bargain, sell, surrender and yield up to the Port Authority, its successors and assigns, forever the surrendered 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 surrendered premises, all to the intent and purpose that the said term under the Existing Lease and the Sublease have been terminated. Between said rights of renewal, licenses, privileges and options may be wholly merged, extinguished and determined on the date 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.
(c) In consideration of the making of this Lease Agreement by the Port Authority, the Lessee hereby agrees to terminate its occupancy of the surrendered premises and the Commencement Date, (x) Landlord and Tenant hereby acknowledge and agree that Tenant shall have the right to remain in deliver actual physical possession of the Existing Premises pursuant same to the terms of this Lease, (y) 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 Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On Port Authority on or before the Commencement Surrender Date, Tenant shall vacate in the condition required by the Existing Premises Lease upon surrender, provided, that, notwithstanding anything to the contrary contained in the Existing Lease, the Lessee shall not be required to remove or change any of the construction and return possession thereof installation work performed, or any improvements made, in the premises as defined in the Existing Lease, but the Lessee may at its option remove items of construction and 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 Landlord in broom-clean conditionthe fifth (5th) business day following the Surrender Date all furniture, 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 the premises caused by such removal or the removal by the Lessee of any construction and installation work from the surrendered premises. Between In the date hereof 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 Commencement event that the Surrender Date shall not occur on or prior to July 29, 1999, the term of the letting under the Existing Lease shall hereby be extended through and including the Surrender Date, Tenant shall pay Landlord Minimum Rental at an annual basic rental rate of One Million Three Hundred Seventy-six Thousand One Hundred Twelve Dollars and No Cents ($1,376,112.00), payable in equal to monthly installments of One Hundred Fourteen Thousand Six Hundred Seventy-six Dollars and No Cents ($9,476.84 per 114,676.00) commencing on July 30, 1999, and on the first day of each calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions of Section 3 hereof.thereafter,
Appears in 1 contract
Sources: Lease Agreement (KBW Inc)
Existing Lease. Landlord and Tenant hereby acknowledge and agree Sigma Computing, Inc., a Delaware corporation (“Sigma”) are parties to that certain: (i) Landlord’s predecessor in interestOffice Lease dated as of June 6, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain Lease Agreement dated November 30, 2006 2018 (the “Allscripts Original Lease”); and (ii) Amendment to Lease dated as of October 8, pursuant to which Corning Road, L.L.C. leased to Allscripts approximately 10,273 rentable square feet of space 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 (“Landed”) in that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Cary, North Carolina (the “Crossroads I Building”), (ii) Tenant and Allscripts entered into pursuant to that certain Sublease Agreement dated December 3as of November 15, 2008 2021 (the “Sublease”), by and between Sigma and Landed, as consented to by Landlord pursuant to which that certain Consent to Sublease dated December 22, 2021, among Landlord, Sigma and Landed. 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 is currently in possession of the Existing entire Premises pursuant to that certain Sub-Sublease Agreement dated as of October 28, 2022 (the terms of this “Sub-Sublease”), by and between Landed and Tenant, as consented to by Landlord pursuant to that certain Consent to Sub-Sublease dated January 20, 2023 among Landlord, Sigma, Landed and Tenant. The Existing Lease, (y) for the purposes Sublease and the Sub-Sublease will each expire in accordance with its terms as of construing Tenant’s obligations 11:59 P.M. on the day before the Lease Commencement Date; provided, however, that notwithstanding such termination or anything in relation the Existing Lease, the Sublease or the Sub-Sublease to the Existing Premises under the terms of this Lease, all references in this Lease to the “Premises” shall include the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Datecontrary, Tenant shall not be obligated to vacate and surrender possession of the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between since Tenant will be leasing the date hereof and the Commencement Date, Tenant shall pay Premises directly from Landlord Minimum Rental equal pursuant to $9,476.84 per calendar month for its lease this Lease immediately following such termination of the Existing PremisesLease, which payments Sublease and Sub-Sublease. In addition, Landlord shall have no obligation to deliver the Premises to Tenant free and clear of the occupancy 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 made in accordance with solely responsible for ensuring that Sigma or Landed vacate the provisions of Section 3 hereofPremises.
Appears in 1 contract
Existing Lease. Landlord Tenant acknowledges and agrees that Tenant hereby acknowledge and agree that (i) Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain Lease Agreement dated November 30, 2006 (currently occupies the “Allscripts Lease”), entire Premises 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 Crossroads Office Building I located at Lease between ECT ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇LLC (Landlord’s predecessor-in-interest) and Tenant dated February 23, Cary, North Carolina 2005 (the “Crossroads I BuildingOriginal 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 (iiif any), or rights of first offer or first refusal (if any), or other similar rights (if any) Tenant and Allscripts entered into that may exist under the Existing Lease. Except to the extent 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 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, (x) Landlord and Tenant hereby acknowledge and agree that Tenant shall have continue to lease the right to remain in possession of the Existing Premises pursuant to the terms Existing Lease prior to the Commencement Date of this Lease, (y) 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 Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions of Section 3 hereof.
Appears in 1 contract
Sources: Sublease (Gymboree Corp)
Existing Lease. Landlord and Tenant hereby acknowledge and agree that (i) 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 Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Cary, North Carolina (the “Crossroads I Building”), (iia) Tenant and Allscripts entered into that certain Sublease Agreement dated December 3acknowledges that, 2008 (as of the “Sublease”)Lease Date, pursuant to which Tenant subleased occupies the Existing Premises from Allscripts, and (iii) as of under 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 terms of the Existing Premises pursuant Lease, and that, subject to the terms of this Lease, (y) for the purposes of construing Tenant’s rights and obligations in relation 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 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, all references 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 this Section 2.2(b).
(b) Nothing 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 “Premises” shall include later to occur of the Rent Commencement Date and, if Tenant does not surrender the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On Premises on or before the Commencement Existing Premises Surrender Date, Tenant shall vacate 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 return possession thereof relating to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease use and/or occupancy of the Existing PremisesPremises by Tenant or any of its, which payments shall be made in accordance with the provisions of Section 3 hereofemployees, agents, contractors customers or invitees.
Appears in 1 contract
Existing Lease. The parties acknowledge that Landlord currently leases to Tenant and Tenant hereby acknowledge currently leases from Landlord Suite 1200 and agree that (i) Landlord’s predecessor Suite 2700 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 Tower (the “Existing Premises”) and Suite 2510 in that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Cary, North Carolina the Tower (the “Crossroads I Building25th Floor Space”) pursuant to 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 May 5, 2008 and by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the “Existing Lease”), (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) . Effective as of the date hereofwhich is sixty (60) days after the Commencement Date under this Lease, Tenant’s lease of the Allscripts Existing Premises under the Existing Lease shall terminate and shall be of no further force or effect (except for those provisions of the Sublease have been terminatedExisting Lease which, by their terms, expressly survive the expiration or earlier termination of the Existing Lease). Between The period from the Commencement Date under this Lease through the date of this Lease and which is sixty (60) days thereafter may be referred to herein as the Commencement Date“Moving Period”. However, (x) Landlord and Tenant hereby acknowledge and agree that notwithstanding anything to the contrary contained in the Existing Lease, Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (as those terms are defined in the right to remain in possession of Existing Lease) for the Existing Premises pursuant to the terms of this Lease, Existing -41- Lease attributable to such sixty (y60) for the purposes of construing Tenant’s obligations in relation day Moving Period. Should Tenant fail to the Existing Premises under the terms of this Lease, all references in this Lease to the “Premises” shall include the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall 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 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 possession thereof such space to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its The parties acknowledge that Tenant’s lease of the 25th Floor Space pursuant to the Existing PremisesLease shall not be terminated under this Section 35(a) and Tenant’s lease of the 25th Floor Space shall continue as provided in the Fourth Amendment to Lease dated August 7, which payments shall be made in accordance with the provisions of Section 3 hereof2009.
Appears in 1 contract
Sources: Standard Office Lease
Existing Lease. Landlord and Tenant hereby acknowledge and agree that (i) Landlord’s predecessor in interestTenant is currently a tenant at 2840 San T▇▇▇▇ Expressway, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain Lease Agreement dated November 30, 2006 (one of the “Allscripts Lease”), pursuant to which Corning Road, L.L.C. leased to Allscripts approximately 10,273 rentable square feet of space Other Buildings located on the Real Property (the “Existing PremisesSpace”) in that certain office building now owned by Landlord pursuant to an Office Lease dated June 11, 1990, as amended and commonly known as Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Cary, North Carolina assigned (the “Crossroads I BuildingExisting Lease”). The Existing Lease is hereby extended from the expiration date thereof, i.e., March 31, 2006, through the fifth (ii5th) Tenant and Allscripts entered into that certain Sublease Agreement dated December 3, 2008 business day following the Commencement Date hereunder (the “SubleaseExisting Space Holdover Period”), pursuant . Notwithstanding anything to which Tenant subleased the contrary in the Existing Premises from AllscriptsLease, and (iii) as of Tenant’s Base Rent for the date hereof, Existing Space for 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 entirety of the Existing Premises pursuant to Space Holdover Period (but excluding the terms of this Lease, five (y5) business days following the Commencement Date for the purposes of construing Tenant’s obligations in relation to which Base Rent shall not be charged on the Existing Premises Space) shall be Fifty-Three Thousand Three Hundred Sixty-One and 00/100 Dollars ($53,361.00) per month. Tenant shall continue to be liable for its proportionate share of Direct Expenses and any other additional rent amounts accruing under the terms of this Lease, all references in this Existing Lease to the “Premises” until its expiration as provided herein. Tenant shall include surrender the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made Space in accordance with the provisions terms of Section 3 hereof.the Existing Lease. In the event of termination of this Lease for any 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 remainder of the Existing Space Holdover Period thereafter occurring (but excluding the five (5) 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. Landlord and Tenant The parties hereby acknowledge and agree that this Lease amends and restates the Existing Lease 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 other party as follows:
(a) Tenant hereby certifies to Landlord as follows: (i) Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain all conditions of this Lease Agreement dated November 30, 2006 (necessary for the “Allscripts Lease”), pursuant to which Corning Road, L.L.C. leased to Allscripts approximately 10,273 rentable square feet enforceability of space (the “Existing Premises”) in that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Cary, North Carolina (the “Crossroads I Building”)this Lease have been satisfied or waived, (ii) Tenant and Allscripts entered into that certain Sublease Agreement dated December 3to the best of Tenant’s current, 2008 (the “Sublease”)actual knowledge, pursuant to which Tenant subleased Landlord is currently not in default under the Existing Premises from AllscriptsLease, and (iii) as of the date hereof, to the Allscripts Lease 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 part of Landlord under the Existing Lease, and (iv) except as provided otherwise in this Lease, Landlord is not required to perform, nor contribute any allowance for, any additional improvements to the Sublease have been terminated. Between the date Premises.
(b) Landlord hereby certifies to Tenant as follows: (i) all conditions of this Lease and necessary for the Commencement Dateenforceability of this Lease have been satisfied or waived, (xii) Landlord and to the best of Landlord’s current, actual knowledge, Tenant hereby acknowledge and agree that Tenant shall have the right to remain is currently not in possession of default under the Existing Premises pursuant to the terms of this Lease, (y) 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 Premises, and (ziii) all references 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.
(c) Notwithstanding anything to the contrary in this Lease 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 Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate extent such rights are contained in the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions of Section 3 hereofLease.
Appears in 1 contract
Sources: Office Lease (KBS Real Estate Investment Trust II, Inc.)
Existing Lease. Landlord and Tenant hereby acknowledge and agree that (i) Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain the holdover term of the Existing Lease Agreement dated November 30shall expire on October 31, 2006 (the “Allscripts LeaseExisting Lease Expiration Date”), 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 Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, 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 .; provided that Tenant shall have the right to remain extend the Existing Lease Expiration Date for a period of one (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 Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in possession the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms of the Existing Premises pursuant Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything to the terms of this contrary herein or in the Existing Lease, Tenant shall have the 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) for Tenant repairs at its own expense any damage to the purposes of construing building in which the Existing Space is located caused by such removal or by Tenant’s obligations in relation to vacation of the Existing Premises under the terms of this Lease, all references in this Lease to the “Premises” shall include the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I BuildingSpace. On or before the Commencement DateHowever, Tenant shall vacate have no obligation to restore the Existing Premises and return possession thereof Space to the condition it was in at the time of its delivery to Tenant. Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to acknowledges that it currently holds a security deposit of $9,476.84 per calendar month for its lease of 182,132.43 under the Existing PremisesLease, which payments shall be made returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the provisions terms of the Existing Lease 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, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 3 hereof24 of the Existing Lease 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.
Appears in 1 contract
Existing Lease. Landlord and Tenant hereby acknowledge and agree that (i) 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 Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, 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 If the Existing Premises from AllscriptsLease terminates with respect to the Must- Take Space prior to December 31, 2010 and (iii) the Tibco Sublease has not been previously terminated for any reason, the Tibco Sublease automatically shall be deemed terminated as of the date hereofof termination of the Existing Lease (the “Early Termination Date”), the Allscripts Lease and Must-Take Effective Date automatically shall be accelerated to the Sublease have been terminated. Between day immediately following the date of this Lease and Early Termination Date (the Commencement “Advance Must-Take Effective Date”), (x) Landlord and Tenant hereby acknowledge and agree that Tenant shall be deemed to have the right to remain in taken possession of the Existing Premises Must-Take Space pursuant to the terms of the Lease and this LeaseMust-Take provision as of the Advance Must-Take Effective Date, (y) for and the purposes terms and conditions of construing Tenant’s obligations in relation this Lease applicable to the Existing Premises under the terms of this Lease, all references Must-Take Space shall be in this Lease full force and effect with respect to the “Premises” Must-Take Space as of the Advance Must-Take Effective Date, except that (a) the Must-Take Term shall be extended to include the Existing Premisesperiod 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 (zb) all references in this Lease to the Building shall include Base Rent for the Crossroads I Building. On or before Must-Take Space during the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broomAdvance Must-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments Take Term shall be made 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 the provisions determination of Section 3 hereofBase Rent for the Advance Must-Take Term is independent of and shall not affect in any way the determination of Base Rent for the remainder of the Must-Take Term, as set forth in Subsection F below. In the event that the Tibco Sublease is in effect but Tenant has not yet taken possession of a portion of the Must-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 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 determining the Prevailing Market rate for the Must-Take Space during the Advance Term.
Appears in 1 contract
Sources: Research and Development/Office Lease (Affymax Inc)
Existing Lease. Landlord Lessee is currently the tenant and Tenant hereby acknowledge and agree that (i) Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into Lessor is currently the landlord under that certain Lease Agreement Lease, dated November 30as of February 11, 2006 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 (collectively, the “Allscripts "Existing Lease”"), pursuant to which Corning Road, L.L.C. leased to Allscripts approximately 10,273 rentable square feet Lessee currently leases space on the 26th and 35th floors of space the Building (the “"Existing Premises”) in Space"). Lessor and Lessee hereby agree that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, 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, Lease is modified as follows:
(a) From and (iii) as of after the Effective Date until the termination 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 Lease (as the same may be extended in accordance with subsection (b) hereinbelow), Lessee shall pay to Lessor as the annual Base Rent under the Existing Lease an amount equal to $16.75 per rentable square foot contained in the Existing Space. Such Base Rent shall continue to be paid in accordance with the terms of this the Existing Lease.
(b) The Existing Lease shall terminate as of March 31, (y) 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 purposes Commencement Date is delayed as a result of construing Tenant’s obligations in relation 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 Premises under Lease to the terms 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 Lease, all references Section 32 or any other provision in this Lease to the “Premises” contrary, Lessee shall include 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 PremisesLease accruing through March 31, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions of Section 3 hereof1996.
Appears in 1 contract
Existing Lease. The parties acknowledge that Landlord currently leases to Tenant and Tenant hereby acknowledge currently leases from Landlord Suite 1200 and agree that (i) Landlord’s predecessor Suite 2700 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 Tower (the “Existing Premises”) and Suite 2510 in that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Cary, North Carolina the Tower (the “Crossroads I Building25th Floor Space”) pursuant to 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 May 5, 2008 and by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the “Existing Lease”), (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) . Effective as of the date hereofwhich is sixty (60) days after the Commencement Date under this Lease, Tenant’s lease of the Allscripts Existing Premises under the Existing Lease shall terminate and shall be of no further force or effect (except for those provisions of the Sublease have been terminatedExisting Lease which, by their terms, expressly survive the expiration or earlier termination of the Existing Lease). Between The period from the Commencement Date under this Lease through the date of this Lease and which is sixty (60) days thereafter may be referred to herein as the Commencement Date“Moving Period”. However, (x) Landlord and Tenant hereby acknowledge and agree that notwithstanding anything to the contrary contained in the Existing Lease, Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (as those terms are defined in the right to remain in possession of Existing Lease) for the Existing Premises pursuant to the terms of this Lease, Existing Lease attributable to such sixty (y60) for the purposes of construing Tenant’s obligations in relation day Moving Period. Should Tenant fail to the Existing Premises under the terms of this Lease, all references in this Lease to the “Premises” shall include the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall 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 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 possession thereof such space to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its The parties acknowledge that Tenant’s lease of the 25th Floor Space pursuant to the Existing PremisesLease shall not be terminated under this Section 35(a) and Tenant’s lease of the 25th Floor Space shall continue as provided in the Fourth Amendment to Lease dated August 7, which payments shall be made in accordance with the provisions of Section 3 hereof2009.
Appears in 1 contract
Sources: Standard Office Lease (Coinstar Inc)
Existing Lease. Landlord (a) The Port Authority and Tenant hereby acknowledge and agree that (i) Landlord’s the Lessee's predecessor in interest, Corning RoadThe First Boston Corporation, L.L.C.have heretofore entered into an agreement of lease dated as of May 10, 1979, and Allscripts, LLC identified by Port Authority Lease No. WT-2209-N-6 (“Allscripts”) entered into that certain Lease Agreement dated November 30, 2006 (the “Allscripts Lease”1497), pursuant which agreement of lease, as the same has been heretofore supplemented and 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 which Corning Roadas the "Existing Lease Surrender Date"), L.L.C. leased the Lessee hereby surrenders and yields up and does by these presents grant, bargain, sell, surrender and yield up to Allscripts approximately 10,273 rentable square feet of space the Port Authority, its successors and assigns, forever the entire premises under the Existing Lease (such premises under the “Existing Lease being hereinafter referred to as the "Existing Premises”") in that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, 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 term of years with respect thereto under the Existing Premises from AllscriptsLease 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 originally fixed to expire on such date and further to the 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.
(iiic) 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 Premises, or to remove therefrom any furniture, equipment, signs, inventories, trade fixtures and/or other personal property of the Lessee or for which the Lessee is responsible as of the date hereof, the Allscripts Existing Lease and the Sublease have been terminatedSurrender Date. 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 The Lessee's continued occupancy of the Existing Premises after the Existing Lease Surrender Date pursuant to the terms provisions of this Lease, (y) Agreement shall be deemed delivery by the Lessee to the Port Authority of the Existing Premises for the purposes of construing Tenant’s obligations in relation to the Existing Premises under the terms paragraph (b) of this LeaseSection.
(d) The Lessee shall have the non-exclusive right, all references in this Lease subject to the “Premises” shall include the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions terms and conditions of Section 3 hereofthis Agreement, to continue to use, maintain and replace for 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.
Appears in 1 contract
Sources: Lease Agreement (Credit Suisse First Boston Usa Inc)