Common use of Expansion of Premises Clause in Contracts

Expansion of Premises. Provided that the demising wall is erected in the location specified on Exhibit A attached hereto, for purposes of calculating Fixed Monthly Rent and Tenant’s Share the parties hereby stipulate that the Expansion Premises contains approximately 9,271 square feet of Rentable Area and approximately 7,836 square feet of Usable Area. As of the Expansion Date, the definition of the Premises shall be revised to include both the Existing Premises and the Expansion Space, and wherever in the Lease the word “Premises” is found, it shall thereafter refer to both the Existing Premises and the Expansion Space together, as if the same had been originally included in said Lease, subject to the terms and conditions of this First Amendment. Landlord and Tenant agree that a recalculation of the Usable Area of the Expansion Space shall be made after the Expansion Date by Xxxxxxxxx Systems, Inc., an independent planning firm, using the 2010 ANSI/BOMA Standard set forth collectively by the American National Standards Institute and the Building Owners and Managers Association (“ANSI/BOMA Standard”), as a guideline, and that Landlord is utilizing a deemed add-on factor of 18.31% to compute the Rentable Area of the Expansion Space. Tenant and Landlord agree to document the revised Usable Area as documented by Xxxxxxxxx Systems, and the other matters specified below that will be determined upon such Usable Area being confirmed, in the Memorandum (as defined in Section 4 below). Landlord and Tenant further agree that the Rentable Area of the Expansion Space shall be calculated on the basis of 1.1831 times the estimated Usable Area, regardless of what actual common areas of the Building may be, or whether they may be more or less than 18.31% of the total estimated Usable Area of the Building, and is provided solely to give a general basis for comparison and pricing of this space in relation to other spaces in the market area. Landlord and Tenant further agree that once the Rentable Area and Usable Area of the Expansion Space have been determined as specified hereinabove, even if later either party alleges that the actual Rentable Area or Usable Area of the Expansion Space is more or less than the figures stated herein; and whether or not such figures are inaccurate, for all purposes of the Lease, the Rentable and Usable figures agreed upon shall be conclusively deemed to be the Rentable Area, or Usable Area of the Expansion Space, as the case may be. Notwithstanding any adjustment in the Usable Area and/or Rentable Area as determined pursuant to this Section 4, and provided the demising wall is erected in the location indicated on Exhibit A attached hereto and the Expansion Space plan as depicted on Exhibit A is not modified after this First Amendment is executed, there shall be no change in the Fixed Monthly Rent due for the Expansion Space as set forth in Section 5.2, below or in Tenant’s Share as set forth in Section 6, below. As of the Expansion Date, the total Usable Area of the Premises shall be 27,983 square feet and the total Rentable Area of the Premises shall be 31,338 square feet, subject to confirmation of the Usable Area and Rentable Area as provided above. [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. If the demising wall is erected in a location different from that as indicated on Exhibit A attached hereto, or if the Expansion Space plan as depicted on Exhibit A is otherwise modified after this First Amendment is executed, and if as a result the Rentable Area of the Expansion Space is increased or decreased pursuant to this Section 4 then (a) the Fixed Monthly Rent commencing on the first calendar day of the thirteenth (13th) calendar month after the Expansion Date shall be recalculated based on $2.13 per square foot of Rentable Area of the Expansion Space, per month; (b) thereafter, the Fixed Monthly Rent shall be adjusted to result in an increase of three percent (3%) per annum, cumulative over the Expansion Term; (c) as of the Expansion Date, Security Deposit for the Expansion Space shall be adjusted to an amount equal to one month’s Fixed Monthly Rent for the Expansion Space due during the last year of the Term; (d) as of the Expansion Date, if the Usable Area of the Expansion Space is increased or decreased pursuant to this Section 4, then “Tenant’s Share” as set forth herein for the Expansion Space shall be increased or decreased equally, by dividing the newly calculated Usable Area of the Expansion Space by the Usable Area of the Building; (e) the Allowance shall equal $32.50 per square foot of Rentable Area within Expansion Space; and (f) all other amounts based on the Usable Area of the Expansion Space or Rentable Area of the Expansion Space shall be adjusted appropriately. Landlord and Tenant shall promptly execute a memorandum (the “Memorandum”) confirming the finalized Delivery Date, Expansion Date, the Fixed Monthly Rent escalation dates as described in Section 5.b. below, and the other matters specified above as soon as they are determined. Tenant shall execute the Memorandum and return it to Landlord within fifteen (15) business days after receipt thereof. Failure of Tenant to timely execute and deliver the Memorandum shall constitute an acknowledgement by Tenant that the statements included in such Memorandum are true and correct.

Appears in 2 contracts

Samples: Office Lease (Blackline, Inc.), Office Lease (Blackline, Inc.)

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Expansion of Premises. Provided that the demising wall is erected in the location specified on Exhibit A attached hereto, for purposes of calculating Fixed Monthly Rent and Tenant’s Share the parties hereby stipulate that the Expansion Premises contains approximately 9,271 square feet of Rentable Area and approximately 7,836 square feet of Usable Area. As of the Expansion Date, (i) the usable area (“Usable Area”) of the Premises shall increase from 11,035 square feet to 12,702 square feet and the rentable area (“Rentable Area”) of the Premises shall increase from 13,201 square feet to 15,193 square feet, and (ii) the definition of the Premises shall be revised to include both the Existing Premises and the Expansion Space, and wherever in the Lease the word “Premises” is found, it shall thereafter refer to both the Existing Premises and the Expansion Space together, as if the same had been originally included in said Lease, subject to the terms and conditions of this First Amendment. Landlord and Tenant agree that a recalculation of the Usable Area of the Expansion Space shall be made after the Expansion Date by Xxxxxxxxx Systems, Inc., an independent planning firm, has been measured using the 2010 ANSI/BOMA Standard set forth published collectively by the American National Standards Institute and the Building Owners Owners’ and Managers Managers’ Association (“ANSI/BOMA Standard”), as a guideline. Based upon such measurement, and Landlord has been advised that the accurate Usable Area of the Expansion Space is approximately 1,667 square feet. Landlord is utilizing a deemed add-on factor of 18.3119.50% to compute the Rentable Area of the Expansion Space. Tenant and Landlord agree to document the revised Usable Area as documented by Xxxxxxxxx Systems, and the other matters specified below that will be determined upon such Usable Area being confirmed, in the Memorandum (as defined in Section 4 below). Landlord and Tenant further agree that the Rentable Area of the Expansion Space shall be herein is calculated on the basis of 1.1831 as 1.950 times the estimated Usable Area, regardless of what the actual common areas square footage of the Common Areas of the Building may be, and whether or whether not they may be are more or less than 18.3119.50% of the total estimated Usable Area of the Building, and . The purpose of this calculation is provided solely to give provide a general basis for comparison and pricing of this space in relation to other spaces in the market area. Based on Landlord’s deemed load factor as indicated above, the Rentable Area of the Expansion Space is hereby agreed to be approximately 1,992 square feet. Landlord and Tenant further agree that once the Rentable Area and Usable Area of the Expansion Space have been determined as specified hereinabove, even if later either party alleges that the actual Rentable Area or Usable Area of the Expansion Space is and/or the total Building Area are later determined to be more or less than the figures stated herein; and whether or not such figures are inaccurate, for all purposes of the Lease, including this Third Amendment, the Rentable and Usable figures agreed upon stated herein shall be conclusively deemed to be the actual Rentable Area, Area or Usable Area of the Expansion Space, as the case may be. Notwithstanding any adjustment in the Usable Area and/or Rentable Area as determined pursuant to this Section 4, and provided the demising wall is erected in the location indicated on Exhibit A attached hereto and the Expansion Space plan as depicted on Exhibit A is not modified after this First Amendment is executed, there shall be no change in the Fixed Monthly Rent due for the Expansion Space as set forth in Section 5.2, below or in Tenant’s Share as set forth in Section 6, below. As of the Expansion Date, the total Usable Area of the Premises shall be 27,983 square feet and the total Rentable Area of the Premises shall be 31,338 square feet, subject to confirmation of the Usable Area and Rentable Area as provided above. [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. If the demising wall is erected in a location different from that as indicated on Exhibit A attached hereto, or if the Expansion Space plan as depicted on Exhibit A is otherwise modified after this First Amendment is executed, and if as a result the Rentable Area of the Expansion Space is increased or decreased pursuant to this Section 4 then (a) the Fixed Monthly Rent commencing on the first calendar day of the thirteenth (13th) calendar month after the Expansion Date shall be recalculated based on $2.13 per square foot of Rentable Area of the Expansion Space, per month; (b) thereafter, the Fixed Monthly Rent shall be adjusted to result in an increase of three percent (3%) per annum, cumulative over the Expansion Term; (c) as of the Expansion Date, Security Deposit for the Expansion Space shall be adjusted to an amount equal to one month’s Fixed Monthly Rent for the Expansion Space due during the last year of the Term; (d) as of the Expansion Date, if the Usable Area of the Expansion Space is increased or decreased pursuant to this Section 4, then “Tenant’s Share” as set forth herein for the Expansion Space shall be increased or decreased equally, by dividing the newly calculated Usable Area of the Expansion Space by the Usable Area of the Building; (e) the Allowance shall equal $32.50 per square foot of Rentable Area within Expansion Space; and (f) all other amounts based on the Usable Area of the Expansion Space or Rentable Area of the Expansion Space shall be adjusted appropriately. Landlord and Tenant shall promptly execute a memorandum (the “Memorandum”) confirming the finalized Delivery Date, Expansion Date, the Fixed Monthly Rent escalation dates as described in Section 5.b. below, and the other matters specified above as soon as they are determined. Tenant shall execute the Memorandum and return it to Landlord within fifteen (15) business days after receipt thereof. Failure of Tenant to timely execute and deliver the Memorandum shall constitute an acknowledgement by Tenant that the statements included in such Memorandum are true and correct.

Appears in 1 contract

Samples: Office Lease Agreement (GoodRx Holdings, Inc.)

Expansion of Premises. Provided that the demising wall is erected in the location specified on Exhibit A attached hereto, for purposes of calculating Fixed Monthly Rent and Tenant’s Share the parties hereby stipulate that the Expansion Premises contains approximately 9,271 square feet of Rentable Area and approximately 7,836 square feet of Usable Area. As of the Expansion Date, (i) the usable area (“Usable Area”) of the Premises shall increase from 12,702 square feet to 19,206 square feet and the rentable area (“Rentable Area”) of the Premises shall increase from 15,193 square feet to 22,953 square feet, and (ii) the definition of the Premises shall be revised to include both the Existing Premises and the Expansion Space, and wherever in the Lease the word “Premises” is found, it shall thereafter refer to both the Existing Premises and the Expansion Space together, as if the same had been originally included in said Lease, subject to the terms and conditions of this First Amendment. Landlord and Tenant agree that a recalculation of the Usable Area of the Expansion Space shall be made after the Expansion Date by Xxxxxxxxx Systems, Inc., an independent planning firm, has been measured using the 2010 ANSI/BOMA Standard set forth published collectively by the American National Standards Institute and the Building Owners Owners’ and Managers Managers’ Association (“ANSI/BOMA Standard”), as a guideline. Based upon such measurement, and Landlord has been advised that the accurate Usable Area of the Expansion Space is approximately 6,504 square feet. Landlord is utilizing a deemed add-on factor of 18.3119.32% to compute the Rentable Area of the Expansion Space. Tenant and Landlord agree to document the revised Usable Area as documented by Xxxxxxxxx Systems, and the other matters specified below that will be determined upon such Usable Area being confirmed, in the Memorandum (as defined in Section 4 below). Landlord and Tenant further agree that the Rentable Area of the Expansion Space shall be herein is calculated on the basis of 1.1831 as 1.932 times the estimated Usable Area, regardless of what the actual common areas square footage of the Common Areas of the Building may be, and whether or whether not they may be are more or less than 18.3119.32% of the total estimated Usable Area of the Building, and . The purpose of this calculation is provided solely to give provide a general basis for comparison and pricing of this space in relation to other spaces in the market area. Based on Landlord’s deemed load factor as indicated above, the Rentable Area of the Expansion Space is hereby agreed to be approximately 7,760 square feet. Landlord and Tenant further agree that once the Rentable Area and Usable Area of the Expansion Space have been determined as specified hereinabove, even if later either party alleges that the actual Rentable Area or Usable Area of the Expansion Space is and/or the total Building Area are later determined to be more or less than the figures stated herein; and whether or not such figures are inaccurate, for all purposes of the Lease, including this Fourth Amendment, the Rentable and Usable figures agreed upon stated herein shall be conclusively deemed to be the actual Rentable Area, Area or Usable Area of the Expansion Space, as the case may be. Notwithstanding any adjustment in the Usable Area and/or Rentable Area as determined pursuant to this Section 4233 Wilshire / GoodRX, and provided the demising wall is erected in the location indicated on Exhibit A attached hereto and the Expansion Space plan as depicted on Exhibit A is not modified after this First Amendment is executedInc. / JF / October 2, there shall be no change in the Fixed Monthly Rent due for the Expansion Space as set forth in Section 5.2, below or in Tenant’s Share as set forth in Section 6, below. As of the Expansion Date, the total Usable Area of the Premises shall be 27,983 square feet and the total Rentable Area of the Premises shall be 31,338 square feet, subject to confirmation of the Usable Area and Rentable Area as provided above. [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. If the demising wall is erected in a location different from that as indicated on Exhibit A attached hereto, or if the Expansion Space plan as depicted on Exhibit A is otherwise modified after this First Amendment is executed, and if as a result the Rentable Area of the Expansion Space is increased or decreased pursuant to this Section 4 then (a) the Fixed Monthly Rent commencing on the first calendar day of the thirteenth (13th) calendar month after the Expansion Date shall be recalculated based on $2.13 per square foot of Rentable Area of the Expansion Space, per month; (b) thereafter, the Fixed Monthly Rent shall be adjusted to result in an increase of three percent (3%) per annum, cumulative over the Expansion Term; (c) as of the Expansion Date, Security Deposit for the Expansion Space shall be adjusted to an amount equal to one month’s Fixed Monthly Rent for the Expansion Space due during the last year of the Term; (d) as of the Expansion Date, if the Usable Area of the Expansion Space is increased or decreased pursuant to this Section 4, then “Tenant’s Share” as set forth herein for the Expansion Space shall be increased or decreased equally, by dividing the newly calculated Usable Area of the Expansion Space by the Usable Area of the Building; (e) the Allowance shall equal $32.50 per square foot of Rentable Area within Expansion Space; and (f) all other amounts based on the Usable Area of the Expansion Space or Rentable Area of the Expansion Space shall be adjusted appropriately. Landlord and Tenant shall promptly execute a memorandum (the “Memorandum”) confirming the finalized Delivery Date, Expansion Date, the Fixed Monthly Rent escalation dates as described in Section 5.b. below, and the other matters specified above as soon as they are determined. Tenant shall execute the Memorandum and return it to Landlord within fifteen (15) business days after receipt thereof. Failure of Tenant to timely execute and deliver the Memorandum shall constitute an acknowledgement by Tenant that the statements included in such Memorandum are true and correct.2018 C-4

Appears in 1 contract

Samples: Office Lease Agreement (GoodRx Holdings, Inc.)

Expansion of Premises. Provided Landlord and Tenant acknowledge that the demising wall is erected in premises currently consist of 96,046 rentable square feet located on the location specified first, third and fourth floors of the building as shown on Exhibit A attached heretohereto and incorporated herein by this reference (hereinafter, for purposes of calculating Fixed Monthly Rent and Tenant’s Share the parties hereby stipulate that the Expansion Premises contains approximately 9,271 “existing premises”). The premises shall be expanded by 108,688 rentable square feet to a total of Rentable Area and approximately 7,836 204,734 rentable square feet as hereinafter provided. The additional 108,688 rentable square feet (hereinafter, the “expansion premises’) currently is leased to other tenants pursuant to leases that have various expiration dates (hereinafter, the “other leases”), and consists of Usable Areathe space shown on Exhibit B attached hereto and incorporated herein by this reference. As each of the Expansion Dateother leases expires, or is earlier terminated, and the tenant thereunder surrenders possession of the premises to Landlord in the condition required under the other lease (or in such other condition as Landlord or Tenant accepts, it being understood and agreed that Landlord or Tenant may accept such premises in a condition other than that required under the other Lease (such as, by way of example, without improvements installed by the tenant under the other lease having been removed); provided, however, that regardless of whether Tenant wishes to accept such premises in a condition other than that required under the other lease, Landlord shall not be required to do so if such action might reasonably expose Landlord to liability to the tenant under the other lease (such as, by way of example, if property of the tenant under the other lease remains on the premises and has not been abandoned by that tenant)), the definition portion of the Premises expansion premises that was subject to the other lease shall be revised delivered by Landlord to include both Tenant in broom-clean condition and free of all personal property and, upon such delivery, shall become a part of the Existing Premises premises and the Expansion Space, be leased to Tenant on and wherever in the Lease the word “Premises” is found, it shall thereafter refer to both the Existing Premises and the Expansion Space together, as if the same had been originally included in said Lease, subject to the terms and conditions of this First AmendmentLease; provided, however, the Landlord shall give Tenant not less than thirty (30) days advance written notice of the anticipated delivery of each portion of the expansion premises (the “Delivery Notice”), and delivery shall not occur any sooner than the expiration of such thirty (30) day period, provided further that if the portion of the expansion premises would be delivered more than thirty (30) days prior to the scheduled expiration date of the other lease for such portion of the expansion premises (as specified in Exhibit C (as hereinafter described)), then Landlord shall give Tenant not less than ninety (90) days’ advance written notice of the anticipated delivery of the portion of the expansion premises in question in Landlord’s Delivery Notice, and delivery shall not occur any sooner than the expiration of such ninety (90) day period. In addition, anything herein to the contrary notwithstanding, Tenant shall not be required to accept delivery of any portion of the expansion premises that is not delivered to Tenant prior to two (2) years after the scheduled expiration date (as such expiration date may be extended pursuant to any option to extend) for the other lease of the portion of the expansion premises in question (as specified in Exhibit C) (the “Delivery Deadline”). If Tenant declines to accept delivery of a portion of the expansion premises that Landlord tenders to Tenant after the Delivery Deadline, such space shall no longer be subject to the provisions contained in this Amendment and Landlord shall be free to lease such space to a third party. Upon (or following) delivery of the expansion premises to Tenant, Landlord and Tenant shall execute a memorandum (the “expansion memorandum”) confirming (i) the date upon which the portion of the expansion premises in question was delivered to Tenant, (ii) the amount of rentable square feet included in the portion of the expansion premises delivered to Tenant, (iii) the revised amount of rentable square feet included in the premises by reason of the addition thereto of the portion of the expansion premises delivered to Tenant, (iv) the revised amount of rent that will be payable to Landlord based on the rent provisions set forth in Paragraph 3 of this Amendment (subject to the deferral of Tenant’s obligation to commence paying such rent as set forth in Paragraph 3), and (v) the adjustment to Tenant’s Share based on the addition to the premises of the portion of the expansion premises delivered to Tenant; provided, however, that the expansion memorandum is for confirmation purposes only and a failure to execute (or delay in executing) the expansion memorandum shall not negate or alter the date on which the portion of the expansion premises delivered to Tenant becomes part of the premises and the consequent adjustments to the size of the premises, the rent payable by Tenant, and the Tenant’s Share. Attached hereto as Exhibit C and incorporated herein by reference is a schedule of the other leases, the rentable square feet leased pursuant to each other lease, the expiration date of each other lease, and information regarding the extension option(s), if any, contained in each other lease. Landlord and Tenant agree that a recalculation the amount of rentable square feet set forth in Exhibit C accurately sets forth the rentable square feet contained in the expansion premises, and each portion thereof, and, accordingly, shall be used in determining the increase in the rentable square feet of the Usable Area premises upon delivery of each portion of the Expansion Space expansion premises to Tenant (and the consequent adjustments to the rent payable by Tenant and Tenant’s Share), and shall not be subject to revision. Landlord represents and warrants that the expiration dates for the other leases set forth in Exhibit C are correct; provided, however, that nothing contained therein (or herein) shall be made after construed to alter Landlord’s obligation to deliver a portion of the Expansion Date expansion premises to Tenant only at such time as the other lease in question has expired, or been earlier terminated, the portion of the expansion premises covered by Xxxxxxxxx Systems, Inc., an independent planning firm, using the 2010 ANSI/BOMA Standard other lease has been surrendered to Landlord in the condition required under the other lease (or in such other condition as Landlord or Tenant accepts (subject to the caveat regarding such acceptance set forth collectively by the American National Standards Institute and the Building Owners and Managers Association (“ANSI/BOMA Standard”above), as a guideline, and that Landlord is utilizing a deemed add-on factor of 18.31% to compute the Rentable Area of the Expansion Space. Tenant and Landlord agree to document the revised Usable Area as documented by Xxxxxxxxx Systems), and the other matters time period specified below that will be determined upon such Usable Area being confirmed, in the Memorandum (as defined in Section 4 below). Landlord’s Delivery Notice has elapsed; nor shall any failure by Landlord and Tenant further agree that the Rentable Area to deliver any portion of the Expansion Space shall be calculated on expansion premises to Tenant by a particular date subject Landlord to any liability whatsoever thererfor or affect the basis of 1.1831 times validity of, or Tenant’s obligations under, the estimated Usable AreaLease and/or this Amendment, regardless of what actual common areas or extend the term of the Building may be, or whether they may be more or less than 18.31% of Lease beyond the total estimated Usable Area of the Building, and is provided solely to give a general basis for comparison and pricing of this space in relation to other spaces in the market area. Landlord and Tenant further agree that once the Rentable Area and Usable Area of the Expansion Space have been determined as specified hereinabove, even if later either party alleges that the actual Rentable Area or Usable Area of the Expansion Space is more or less than the figures stated herein; and whether or not such figures are inaccurate, for all purposes of the Lease, the Rentable and Usable figures agreed upon shall be conclusively deemed to be the Rentable Area, or Usable Area of the Expansion Space, as the case may be. Notwithstanding any adjustment in the Usable Area and/or Rentable Area as determined pursuant to this Section 4, and provided the demising wall is erected in the location indicated on Exhibit A attached hereto and the Expansion Space plan as depicted on Exhibit A is not modified after this First Amendment is executed, there shall be no change in the Fixed Monthly Rent due for the Expansion Space as expiration date set forth in Section 5.2Paragraph 2 below (provided, below however, that in no event shall Tenant be obligated to pay rent or perform its other obligations under this Lease with respect to a portion of the expansion premises until such portion of the expansion premises has been delivered to Tenant and with respect to monthly base rent, the one hundred twenty (120) day period referenced in Paragraphs 3(a) and 3(b) of this Amendment ha expired), it being understood and agreed by Tenant that Tenant’s Share as only remedy for Landlord’s failure to deliver any portion of the expansion premises by a particular date is that Tenant will not be required to accept delivery of ay portion of the expansion premises not delivered by the Delivery Deadline. Landlord agrees: (I) that it will not extend the term of an other lease that covers a portion of the expansion premises beyond the expiration date currently set forth in Section 6such other lease (other than pursuant to an existing option, below. As if any, to extend such expiration date contained in such other lease); (II) that in the event a tenant under an other lees cover a portion of the Expansion Dateexpansion premises holds over beyond the expiration of such other lease, the total Usable Area Landlord shall promptly undertake appropriate legal action to recover possession of the Premises shall be 27,983 square feet and the total Rentable Area portion of the Premises shall be 31,338 square feetexpansion premises in question, subject to confirmation including without limitation initiating an unlawful detainer action against the tenant under the other lease for the portion of the Usable Area and Rentable Area as provided above. [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. If the demising wall is erected expansion premises in a location different from that as indicated on Exhibit A attached hereto, or if the Expansion Space plan as depicted on Exhibit A is otherwise modified after this First Amendment is executedquestion, and if as shall keep Tenant apprised, on a result the Rentable Area regular basis, of the Expansion Space is increased or decreased pursuant to this Section 4 then (a) the Fixed Monthly Rent commencing on the first calendar day status of the thirteenth (13th) calendar month after the Expansion Date shall be recalculated based on $2.13 per square foot of Rentable Area of the Expansion Space, per month; (b) thereafter, the Fixed Monthly Rent shall be adjusted to result in an increase of three percent (3%) per annum, cumulative over the Expansion Term; (c) as of the Expansion Date, Security Deposit for the Expansion Space shall be adjusted to an amount equal to one month’s Fixed Monthly Rent for the Expansion Space due during the last year of the Term; (d) as of the Expansion Date, if the Usable Area of the Expansion Space is increased or decreased pursuant to this Section 4, then “Tenant’s Share” as set forth herein for the Expansion Space shall be increased or decreased equally, by dividing the newly calculated Usable Area of the Expansion Space by the Usable Area of the Building; (e) the Allowance shall equal $32.50 per square foot of Rentable Area within Expansion Spaceany such legal action; and (fIII) all other amounts based on the Usable Area that Landlord shall notify Tenant promptly of the Expansion Space or Rentable Area exercise by a tenant under a lease covering a portion of the Expansion Space shall be adjusted appropriately. Landlord and Tenant shall promptly execute a memorandum expansion premises of an option to extend the term of the lease (or the “Memorandum”) confirming expiration of the finalized Delivery Date, Expansion Date, option without it being exercised by the Fixed Monthly Rent escalation dates as described in Section 5.b. below, and the other matters specified above as soon as they are determined. Tenant shall execute the Memorandum and return it to Landlord within fifteen (15) business days after receipt thereof. Failure of Tenant to timely execute and deliver the Memorandum shall constitute an acknowledgement by Tenant that the statements included in tenant under such Memorandum are true and correctlease).

Appears in 1 contract

Samples: Agreement of Sublease (PRN Corp)

Expansion of Premises. Provided Effective on and as of the date upon which Landlord delivers possession of the below-defined Premises broom-swept, vacant and with hall Building systems in good working condition, but no earlier than January 1, 2018 (the “Expansion Commencement Date”), the Existing Premises shall be expanded to include that the demising wall is erected in the location specified certain 4,098 rentable square feet of space as further depicted on Exhibit A attached heretohereto (the “Expansion Premises”), for purposes of calculating Fixed Monthly Rent and Tenant’s Share a term that is coterminous with the parties hereby stipulate that the Expansion Premises contains approximately 9,271 square feet of Rentable Area and approximately 7,836 square feet of Usable AreaLease Term, as extended pursuant to Paragraph 3 below. As of the Expansion Commencement Date, the definition of the Premises shall be revised to include both the Existing Premises and the Expansion Space, and wherever in Premises shall collectively hereinafter be known as the Lease the word “Premises” is foundand shall contain a total of 16,992 rentable square feet (i.e., it shall thereafter refer to both since the new measurement for the Existing Premises and shall be utilized as noted in Paragraph 1 above) made up of the entirety of the fourth (4th) floor of the office building. Landlord shall use commercially reasonable efforts to deliver the Expansion Space togetherPremises to Tenant as of the Expansion Commencement Date; provided, as if however, Tenant acknowledges that an existing tenant currently occupies the same had been originally included Expansion Premises pursuant to a lease agreement with Landlord that is currently scheduled to expire on March 18, 2018 and that Landlord shall not be liable to Tenant nor shall this Fourth Amendment be void or voidable in said Lease, subject the event that the existing tenant remains in the Expansion Premises following the Expansion Commencement Date. In such case the Expansion Premises shall be delivered following the date that such existing tenant surrenders possession of the Expansion Premises to Landlord in accordance with the terms and conditions of this First Amendment. its lease or such earlier date as such existing tenant’s leasehold with respect to the Expansion Premises has been terminated and Landlord and Tenant agree that a recalculation of the Usable Area has recaptured possession of the Expansion Space shall be made after Premises. In the event the Expansion Date Premises are not delivered to Tenant until after January 1, 2018, then in no event shall Tenant be liable for Base Rent or Additional Rent attributable to the Expansion Premises between January 1, 2018 and such date as the Expansion Premises are actually delivered to Tenant. Notwithstanding anything to the contrary contained herein, if the Expansion Premises is not delivered to Tenant by Xxxxxxxxx SystemsApril 1, Inc.2018, an independent planning firmTenant shall have the option, using but not the 2010 ANSI/BOMA Standard set forth collectively obligation, to terminate the Lease by delivering written notice (the American National Standards Institute and “Termination Notice”) to Landlord after April 1, 2018 but prior to the Building Owners and Managers Association (“ANSI/BOMA Standard”), as a guideline, and date that Landlord actually delivers the Expansion Premises to Tenant, in which case the Lease shall terminate effective as of the date that is utilizing a deemed add-on factor thirty (30) days following Landlord’s receipt of 18.31% to compute the Rentable Area Termination Notice (such date being the “Early Termination Date”) unless Landlord delivers possession of the Expansion SpacePremises to Tenant within such thirty (30) day period. In the event Tenant timely delivers the Termination Notice and Landlord agree does not deliver the Expansion Premises to document Tenant by the revised Usable Area as documented by Xxxxxxxxx SystemsEarly Termination Date, then Tenant shall surrender the Existing Premises to Landlord no later than the Early Termination Date and the other matters specified below that will be determined upon such Usable Area being confirmed, in the Memorandum (as defined in Section 4 below). Landlord and Tenant further agree that the Rentable Area of the Expansion Space parties shall be calculated on released from any liability arising under the basis of 1.1831 times Lease following the estimated Usable Area, regardless of what actual common areas of Early Termination Date other than those obligations that survive the Building may be, expiration or whether they may be more or less than 18.31% of the total estimated Usable Area of the Building, and is provided solely to give a general basis for comparison and pricing of this space in relation to other spaces in the market area. Landlord and Tenant further agree that once the Rentable Area and Usable Area of the Expansion Space have been determined as specified hereinabove, even if later either party alleges that the actual Rentable Area or Usable Area of the Expansion Space is more or less than the figures stated herein; and whether or not such figures are inaccurate, for all purposes earlier termination of the Lease, the Rentable and Usable figures agreed upon shall be conclusively deemed to be the Rentable Area, or Usable Area of the Expansion Space, as the case may be. Notwithstanding any adjustment in the Usable Area and/or Rentable Area as determined pursuant to this Section 4, and provided the demising wall is erected in the location indicated on Exhibit A attached hereto and the Expansion Space plan as depicted on Exhibit A is not modified after this First Amendment is executed, there shall be no change in the Fixed Monthly Rent due for the Expansion Space as set forth in Section 5.2, below or in Tenant’s Share as set forth in Section 6, below. As of the Expansion Date, the total Usable Area of the Premises shall be 27,983 square feet and the total Rentable Area of the Premises shall be 31,338 square feet, subject to confirmation of the Usable Area and Rentable Area as provided above. [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. If the demising wall is erected in a location different from that as indicated on Exhibit A attached hereto, or if the Expansion Space plan as depicted on Exhibit A is otherwise modified after this First Amendment is executed, and if as a result the Rentable Area of the Expansion Space is increased or decreased pursuant to this Section 4 then (a) the Fixed Monthly Rent commencing on the first calendar day of the thirteenth (13th) calendar month after the Expansion Date shall be recalculated based on $2.13 per square foot of Rentable Area of the Expansion Space, per month; (b) thereafter, the Fixed Monthly Rent shall be adjusted to result in an increase of three percent (3%) per annum, cumulative over the Expansion Term; (c) as of the Expansion Date, Security Deposit for the Expansion Space shall be adjusted to an amount equal to one month’s Fixed Monthly Rent for the Expansion Space due during the last year of the Term; (d) as of the Expansion Date, if the Usable Area of the Expansion Space is increased or decreased pursuant to this Section 4, then “Tenant’s Share” as set forth herein for the Expansion Space shall be increased or decreased equally, by dividing the newly calculated Usable Area of the Expansion Space by the Usable Area of the Building; (e) the Allowance shall equal $32.50 per square foot of Rentable Area within Expansion Space; and (f) all other amounts based on the Usable Area of the Expansion Space or Rentable Area of the Expansion Space shall be adjusted appropriately. Landlord and Tenant shall promptly execute a memorandum (the “Memorandum”) confirming the finalized Delivery Date, Expansion Date, the Fixed Monthly Rent escalation dates as described in Section 5.b. below, and the other matters specified above as soon as they are determined. Tenant shall execute the Memorandum and return it to Landlord within fifteen (15) business days after receipt thereof. Failure of Tenant to timely execute and deliver the Memorandum shall constitute an acknowledgement by Tenant that the statements included in such Memorandum are true and correct.

Appears in 1 contract

Samples: Office Lease (Life360, Inc.)

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Expansion of Premises. Provided that the demising wall is erected in the location specified on Exhibit A attached hereto, for purposes of calculating Fixed Monthly Rent and Tenant’s Share the parties hereby stipulate that the Expansion Premises contains approximately 9,271 square feet of Rentable Area and approximately 7,836 square feet of Usable Area. As of the later of the Expansion Date, Dates to occur: (i) the Usable Area of the Premises shall increase from 15,000 usable square feet to 33,745 usable square feet and the Rentable Area of the Premises shall increase from 17,412 rentable square feet to 38,286 rentable square feet; and (ii) the definition of the Premises shall be revised to include both the Existing Premises and the Expansion Space, and wherever in the Lease the word “Premises” is found, it shall thereafter refer to both the Existing Premises and the Expansion Space together, as if the same both had been originally included in said the Lease, subject to the terms and conditions of this First Amendment. Landlord and Tenant agree acknowledge that a recalculation the Second Floor Expansion Space includes the patio space on the 2nd floor, and that the Fifth Floor Expansion Space includes the balcony spaces on the 5th floor, and Tenant shall have full and exclusive access to and use of said patio and balconies; however, the square footage of said patio and balconies shall not be included in the Usable Area or the Rentable Area of the Expansion Space or the Premises. Landlord engaged an independent third party space plan audit firm to measure the Usable Area of the Expansion Space shall be made after the Expansion Date by Xxxxxxxxx Systems, Inc., an independent planning firm, using the 2010 ANSI/BOMA Standard set forth published collectively by the American National Standards Institute and the Building Owners Owners’ and Managers Managers’ Association (“ANSI/BOMA Standard”), ) as a guideline, . Based upon such measurement Landlord has been advised that the accurate Usable Area of the Second Floor Expansion Space is approximately 7,125 square feet and that Landlord the accurate Usable Area of Suite 500 is utilizing a deemed add-on factor approximately 11,620 usable square feet. The Rentable Area of 18.31% the Second Floor Expansion Space is hereby agreed to compute be approximately 7,451 square feet and the Rentable Area of the Expansion Space. Tenant and Landlord agree to document the revised Usable Area as documented by Xxxxxxxxx Systems, and the other matters specified below that will be determined upon such Usable Area being confirmed, in the Memorandum (as defined in Section 4 below). Landlord and Tenant further agree that the Rentable Area of the Expansion Space shall be calculated on the basis of 1.1831 times the estimated Usable Area, regardless of what actual common areas of the Building may be, or whether they may be more or less than 18.31% of the total estimated Usable Area of the Building, and Suite 500 is provided solely to give a general basis for comparison and pricing of this space in relation to other spaces in the market area. Landlord and Tenant further agree that once the Rentable Area and Usable Area of the Expansion Space have been determined as specified hereinabove, even if later either party alleges that the actual Rentable Area or Usable Area of the Expansion Space is more or less than the figures stated herein; and whether or not such figures are inaccurate, for all purposes of the Lease, the Rentable and Usable figures hereby agreed upon shall be conclusively deemed to be the Rentable Area, or Usable Area of the Expansion Space, as the case may be. Notwithstanding any adjustment in the Usable Area and/or Rentable Area as determined pursuant to this Section 4, and provided the demising wall is erected in the location indicated on Exhibit A attached hereto and the Expansion Space plan as depicted on Exhibit A is not modified after this First Amendment is executed, there shall be no change in the Fixed Monthly Rent due for the Expansion Space as set forth in Section 5.2, below or in Tenant’s Share as set forth in Section 6, below. As of the Expansion Date, the total Usable Area of the Premises shall be 27,983 square feet and the total Rentable Area of the Premises shall be 31,338 approximately 13,423 square feet, subject to confirmation of the Usable Area and Rentable Area as provided above. [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. If the demising wall is erected in a location different from that as indicated on Exhibit A attached hereto, or if the Expansion Space plan as depicted on Exhibit A is otherwise modified after this First Amendment is executed, and if as a result the Rentable Area of the Expansion Space is increased or decreased pursuant to this Section 4 then (a) the Fixed Monthly Rent commencing on the first calendar day of the thirteenth (13th) calendar month after the Expansion Date shall be recalculated based on $2.13 per square foot of Rentable Area of the Expansion Space, per month; (b) thereafter, the Fixed Monthly Rent shall be adjusted to result in an increase of three percent (3%) per annum, cumulative over the Expansion Term; (c) as of the Expansion Date, Security Deposit for the Expansion Space shall be adjusted to an amount equal to one month’s Fixed Monthly Rent for the Expansion Space due during the last year of the Term; (d) as of the Expansion Date, if the Usable Area of the Expansion Space is increased or decreased pursuant to this Section 4, then “Tenant’s Share” as set forth herein for the Expansion Space shall be increased or decreased equally, by dividing the newly calculated Usable Area of the Expansion Space by the Usable Area of the Building; (e) the Allowance shall equal $32.50 per square foot of Rentable Area within Expansion Space; and (f) all other amounts based on the Usable Area of the Expansion Space or Rentable Area of the Expansion Space shall be adjusted appropriately. Landlord and Tenant shall promptly execute a memorandum (the “Memorandum”) confirming the finalized Delivery Date, Expansion Date, the Fixed Monthly Rent escalation dates as described in Section 5.b. below, and the other matters specified above as soon as they are determined. Tenant shall execute the Memorandum and return it to Landlord within fifteen (15) business days after receipt thereof. Failure of Tenant to timely execute and deliver the Memorandum shall constitute an acknowledgement by Tenant that the statements included in such Memorandum are true and correct.Initial Initial

Appears in 1 contract

Samples: Office Lease (TrueCar, Inc.)

Expansion of Premises. Provided that the demising wall is erected in the location specified on Exhibit A attached hereto, for purposes of calculating Fixed Monthly Rent and Tenant’s Share the parties hereby stipulate that the Expansion Premises contains approximately 9,271 square feet of Rentable Area and approximately 7,836 square feet of Usable Area. As of the Expansion Date, (i) the Usable Area of the Premises shall increase from 19,206 square feet to 21,530 square feet and the Rentable Area of the Premises shall increase from 22,953 square feet to 25,726 square feet, and (ii) the definition of the Premises shall be revised to include both the Existing Premises and the Expansion Space, and wherever in the Lease the word “Premises” is found, it shall thereafter refer to both the Existing Premises and the Expansion Space together, as if the same had been originally included in said Lease, subject to the terms and conditions of this First Amendment. Landlord and Tenant agree that a recalculation of engaged an independent third party space plan audit firm to measure the Usable Area of the Expansion Space shall be made after the Expansion Date by Xxxxxxxxx Systems, Inc., an independent planning firm, using the 2010 ANSI/BOMA Standard set forth published collectively by the American National Standards Institute and the Building Owners Owners’ and Managers Managers’ Association (“ANSI/BOMA Standard”), ) as a guideline. Based upon such measurement Landlord has been advised that the accurate Usable Area of the Expansion Space is approximately 2,324 square feet. Based on Landlord’s deemed load factor as indicated herein below, the Rentable Area of the Expansion Space is hereby agreed to be approximately 2,773 square feet. Landlord and Tenant agree that Landlord is utilizing a deemed an add-on factor of 18.3119.32% to compute the Rentable Area of the Expansion Space. Tenant and Landlord agree to document the revised Usable Area as documented by Xxxxxxxxx Systems, and the other matters specified below that will be determined upon such Usable Area being confirmed, in the Memorandum (as defined in Section 4 below). Landlord and Tenant further agree that the Rentable Area of the Expansion Space shall be herein is calculated on the basis of 1.1831 as 1.1932 times the estimated Usable Area, regardless of what the actual common areas square footage of the Common Areas of the Building may be, and whether or whether not they may be are more or less than 18.3119.32% of the total estimated Usable Area of the Building, and . The purpose of this calculation is provided solely to give provide a general basis for comparison and pricing of this space in relation to other spaces in the market area. Landlord and Tenant further agree that once the Rentable Area and Usable Area of the Expansion Space have been determined as specified hereinabove, even if later either party alleges that the actual Rentable Area or Usable Area of the Expansion Space is and/or the total Building Area are later determined to be more or less than the figures stated herein; and whether or not such figures are inaccurate, for all purposes of the Lease, including this Sixth Amendment, the Rentable and Usable figures agreed upon stated herein shall be conclusively deemed to be the actual Rentable Area, Area or Usable Area of the Expansion Space, as the case may be. Notwithstanding any adjustment in the Usable Area and/or Rentable Area as determined pursuant to this Section 4233 Wilshire / GoodRX, and provided the demising wall is erected in the location indicated on Exhibit A attached hereto and the Expansion Space plan as depicted on Exhibit A is not modified after this First Amendment is executedInc. / AT / September 17, there shall be no change in the Fixed Monthly Rent due for the Expansion Space as set forth in Section 5.2, below or in Tenant’s Share as set forth in Section 6, below. As of the Expansion Date, the total Usable Area of the Premises shall be 27,983 square feet and the total Rentable Area of the Premises shall be 31,338 square feet, subject to confirmation of the Usable Area and Rentable Area as provided above. [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. If the demising wall is erected in a location different from that as indicated on Exhibit A attached hereto, or if the Expansion Space plan as depicted on Exhibit A is otherwise modified after this First Amendment is executed, and if as a result the Rentable Area of the Expansion Space is increased or decreased pursuant to this Section 4 then (a) the Fixed Monthly Rent commencing on the first calendar day of the thirteenth (13th) calendar month after the Expansion Date shall be recalculated based on $2.13 per square foot of Rentable Area of the Expansion Space, per month; (b) thereafter, the Fixed Monthly Rent shall be adjusted to result in an increase of three percent (3%) per annum, cumulative over the Expansion Term; (c) as of the Expansion Date, Security Deposit for the Expansion Space shall be adjusted to an amount equal to one month’s Fixed Monthly Rent for the Expansion Space due during the last year of the Term; (d) as of the Expansion Date, if the Usable Area of the Expansion Space is increased or decreased pursuant to this Section 4, then “Tenant’s Share” as set forth herein for the Expansion Space shall be increased or decreased equally, by dividing the newly calculated Usable Area of the Expansion Space by the Usable Area of the Building; (e) the Allowance shall equal $32.50 per square foot of Rentable Area within Expansion Space; and (f) all other amounts based on the Usable Area of the Expansion Space or Rentable Area of the Expansion Space shall be adjusted appropriately. Landlord and Tenant shall promptly execute a memorandum (the “Memorandum”) confirming the finalized Delivery Date, Expansion Date, the Fixed Monthly Rent escalation dates as described in Section 5.b. below, and the other matters specified above as soon as they are determined. Tenant shall execute the Memorandum and return it to Landlord within fifteen (15) business days after receipt thereof. Failure of Tenant to timely execute and deliver the Memorandum shall constitute an acknowledgement by Tenant that the statements included in such Memorandum are true and correct.2019

Appears in 1 contract

Samples: Office Lease Agreement (GoodRx Holdings, Inc.)

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