Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”), and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”), Tenant shall have the right, in Tenant’s discretion, to terminate this Lease by providing written notice to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (5) days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall be
Appears in 2 contracts
Sources: Assignment of Sublease (Jaguar Animal Health, Inc.), Assignment of Sublease (Jaguar Animal Health, Inc.)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”), and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding For purposes of this Lease, the foregoing to term “Lease Year” shall mean each consecutive twelve (12) month period during the contraryLease Term; provided, Tenant hereby acknowledges however, that the Premises are currently occupied by an existing tenant, first Lease Year shall commence on the Lease Commencement Date and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession end on the last day of the Premises to Tenant eleventh full calendar month thereafter and the second and each succeeding Lease Year shall commence on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over first day of the prior tenant, next calendar month; and further provided that Landlordthe last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to may deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit notice in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoingform as set forth in Exhibit C, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) attached hereto (the “Outside DateNotice of Lease Term Dates”), as a confirmation of the information set forth therein, which Tenant shall have the right, in Tenant’s discretion, to terminate this Lease by providing written notice execute and return to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than within five (5) days after of receipt thereof, and thereafter the Outside Datedates set forth on such notice shall be conclusive and binding upon Tenant; provided, however, that all information set forth in any Notice of Lease Term Dates shall be consistent with the terms and conditions of this Lease, and such Notice of Lease Term Dates shall not constitute an amendment hereto. Failure of Tenant to timely execute and deliver the Notice of Lease Term Dates shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, without exception. Tenant and its authorized agents, contractors, subcontractors and employees shall be granted a license by Landlord to enter upon the Premises, at Tenant’s sole risk and expense, at least four (4) months prior to the Lease Commencement Date for the purpose of constructing the Tenant Improvements (as defined below) and installing furniture, fixtures and equipment; provided, however, that (a) the provisions of this Lease, other than with respect to the payment of Base Rent and Building Direct Expenses (as defined below), shall apply during such early entry, including, but not limited to, the provisions of Section 10.1 relating to Tenant’s indemnification of the Landlord Parties (as defined below), (b) prior to any such entry, Tenant shall pay for and provide evidence of the insurance to be provided by Tenant pursuant to the provisions of Article 10, (c) Tenant shall pay all utility, service and maintenance charges for the Premises attributable to Tenant’s early entry and use of the Premises as reasonably determined by Landlord, and (d) prior to such entry, Tenant shall have delivered to Landlord an executed original of this Lease and payment in an amount equal to: (i) Base Rent for the first (1st) month of the Lease Term in which Base Rent is due, plus (ii) Building Direct Expenses for the first (1st) months of the Lease Term in which Building Direct Expenses are due, plus (iii) the Security Deposit set forth in Section 8 of the Summary. Upon the proper delivery by Tenant Tenant’s breach of any of the Termination Noticeforegoing conditions, this Lease shall automatically terminate Landlord may, in addition to exercising any of its other rights and be of no further force or effectremedies set forth herein, and Landlord and Tenant shall berevoke such license upon Notice to Tenant.
Appears in 2 contracts
Sources: Sublease Agreement (CrowdStrike Holdings, Inc.), Sublease Agreement (CrowdStrike Holdings, Inc.)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “"Lease Commencement Date”"), and shall terminate on the date set forth in Section 3.3 of the Summary (the “"Lease Expiration Date”") unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that If Landlord shall have no liability to Tenant is unable for any damages resulting from any delay in delivering reason to deliver possession of the Premises to Tenant on any particular delivery date designated by specific date, then Landlord or designated in shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease if such delay is caused by or the holding over obligations of Tenant hereunder. For purposes of this Lease, the term "Lease Year" shall mean each consecutive twelve (12) calendar month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the prior tenantmonth in which the first anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first day of a calendar month, then the first Lease Year shall commence on the Lease Commencement Date and end on the day immediately preceding the first anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that Landlordthe last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, at its expenseLandlord may deliver to Tenant a notice in the form as set forth in Exhibit C, shall take all actions reasonably necessary to secure possession attached hereto, as a confirmation only of the Premises (providedinformation set forth therein, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, which Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six execute and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”), Tenant shall have the right, in Tenant’s discretion, to terminate this Lease by providing written notice return to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than within five (5) days after of receipt thereof. Tenant's failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beinformation set forth in such notice is as specified therein.
Appears in 2 contracts
Sources: Office Lease (Giga Tronics Inc), Office Lease (Giga Tronics Inc)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”)) that is the earlier to occur of (i) the date Tenant commences to conduct business in any portion of the Premises, and (ii) the of “Substantial Completion”, as that term is defined in this Article 2, of the Premises by Landlord, and shall terminate on the date set forth determined in accordance with Section 3.3 of the Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contraryFor purposes of this Lease, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession “Substantial Completion” of the Premises to Tenant on any particular delivery date designated shall occur upon the completion of construction, as reasonably determined by Landlord or designated in this Lease if such delay is caused by the holding over Landlord, of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to “Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force MajeureImprovements,” as that term is defined in Section 29.16the Tenant Work Letter, in the Premises pursuant to the plans and drawings which are prepared and approved pursuant to the terms of the Tenant Work Letter and the issuance of a temporary certificate of occupancy or legal equivalent, with the exception of any Punchlist Items (as defined below) and any Tenant fixtures, work-stations, built-in furniture, or equipment to be installed by Tenant or under the supervision of Contractor (as defined in Section 3 of the Tenant Work Letter). “Punchlist Items” shall mean only commercially reasonable punchlist items, the non-completion of which does not prevent the issuance of a temporary certificate of occupancy or legal equivalent or unreasonably interfere with Tenant’s use or occupancy of the Premises, and which punchlist items shall be corrected promptly by Landlord (within thirty (30) days following ▇▇▇▇▇▇▇▇’s receipt of written notice thereof from Tenant) without unreasonable interference with ▇▇▇▇▇▇’s use of or access to or from the Premises. It is anticipated that the Lease Commencement Date will occur within sixteen (16) weeks after mutual execution of this Lease (such date, the “Outside Target Commencement Date”), but this Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant shall have for any loss or damage, resulting from Landlord’s inability to deliver the rightPremises to Tenant by any particular date, except as hereinafter provided. Notwithstanding anything to the contrary in this Lease, if the Lease Commencement Date does not occur within 60 days after the Target Commencement Date, other than due to Tenant Delay (as defined in the Tenant Work Letter) or Force Majeure, then Tenant’s discretion, to at its option, may terminate this Lease by providing written notice to Landlord given at any time after the expiration of such election 60-day period but before the Lease Commencement Date actually occurs. In the event of such termination by ▇▇▇▇▇▇, the first month’s Base Rent, ▇▇▇▇▇▇’s Share of Direct Expenses paid by Tenant and the Security Deposit shall be fully refunded to termination this Tenant (subject to ▇▇▇▇▇▇▇▇’s right to draw upon such Security Deposit as provided in Article 21 below) and neither party shall have any further obligations hereunder. At any time during the Lease (Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit “Termination NoticeC”), attached hereto, as a confirmation only of the information set forth therein, which Termination Notice must be given, if at all, no later than Tenant shall (absent manifest error) execute and return to Landlord within five (5) business days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall bereceipt thereof.
Appears in 2 contracts
Sources: Office Lease (Artiva Biotherapeutics, Inc.), Office Lease (Artiva Biotherapeutics, Inc.)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”)) that is the earlier to occur of (i) the date Tenant commences to conduct business in any portion of the Premises, and (ii) the of “Substantial Completion”, as that term is defined in this Article 2, of the Premises by Landlord, and shall terminate on the date set forth determined in accordance with Section 3.3 of the Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contraryFor purposes of this Lease, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession “Substantial Completion” of the Premises to Tenant on any particular delivery date designated shall occur upon the completion of construction, as reasonably determined by Landlord or designated in this Lease if such delay is caused by the holding over Landlord, of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to “Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force MajeureImprovements,” as that term is defined in Section 29.16the Tenant Work Letter, in the Premises pursuant to the plans and drawings which are prepared and approved pursuant to the terms of the Tenant Work Letter and the issuance of a temporary certificate of occupancy or legal equivalent, with the exception of any Punchlist Items (as defined below) and any Tenant fixtures, work-stations, built-in furniture, or equipment to be installed by Tenant or under the supervision of Contractor (as defined in Section 3 of the Tenant Work Letter). “Punchlist Items” shall mean only commercially reasonable punchlist items, the non-completion of which does not prevent the issuance of a temporary certificate of occupancy or legal equivalent or unreasonably interfere with Tenant’s use or occupancy of the Premises, and which punchlist items shall be corrected promptly by Landlord (within thirty (30) days following Landlord’s receipt of written notice thereof from Tenant) without unreasonable interference with Tenant’s use of or access to or from the Premises. It is anticipated that the Lease Commencement Date will occur within sixteen (16) weeks after mutual execution of this Lease (such date, the “Outside Target Commencement Date”), but this Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant shall have for any loss or damage, resulting from Landlord’s inability to deliver the rightPremises to Tenant by any particular date, except as hereinafter provided. Notwithstanding anything to the contrary in this Lease, if the Lease Commencement Date does not occur within 60 days after the Target Commencement Date, other than due to Tenant Delay (as defined in the Tenant Work Letter) or Force Majeure, then Tenant’s discretion, to at its option, may terminate this Lease by providing written notice to Landlord given at any time after the expiration of such election 60-day period but before the Lease Commencement Date actually occurs. In the event of such termination by Tenant, the first month’s Base Rent, Tenant’s Share of Direct Expenses paid by Tenant and the Security Deposit shall be fully refunded to termination this Tenant (subject to Landlord’s right to draw upon such Security Deposit as provided in Article 21 below) and neither party shall have any further obligations hereunder. At any time during the Lease (Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit “Termination NoticeC”), attached hereto, as a confirmation only of the information set forth therein, which Termination Notice must be given, if at all, no later than Tenant shall (absent manifest error) execute and return to Landlord within five (5) business days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall bereceipt thereof.
Appears in 2 contracts
Sources: Office Lease (Artiva Biotherapeutics, Inc.), Office Lease (Artiva Biotherapeutics, Inc.)
Initial Lease Term. The terms and Subject to the provisions of this Lease shall be effective as of Section 2.1.1, the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the date of execution as first set forth above (the "Commencement Date") and shall continue for a period of twenty (20) years following the "Rent Commencement Date" (as that term is defined below), subject to (i) the right of Tenant to extend the term as provided for in Section 3.2 of the Summary 2. 1.1 below and (ii) any earlier termination by either party, as permitted herein (the “"Initial Lease Commencement Date”Term"), and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant Lease Term expires on or before July 1any day other than the last day of a calendar month, 2002 (which date the Lease Term shall be automatically extended as a result by the number of any “Force Majeure,” as that term is defined in Section 29.16, below) (days necessary to cause the “Outside Date”), Lease Term to expire on the last day of the month.
SECTION 2.1.1. Tenant shall have the right, in Tenant’s discretion, right to terminate renew this Lease by providing written notice to Landlord of such election by Tenant to termination this beyond the Initial Lease Term for two (2) successive ten (10) year renewal terms (the “Termination Notice”)"Renewal Terms" and together with the Initial Lease Term, which Termination Notice must be given, if at all, no later than five (5the "Lease Term") days after the Outside Date. Upon the proper delivery by Tenant giving notice of the Termination Noticeexercise of its renewal option at least fifteen (15) months prior to the expiration of the Initial Lease Term with respect to the exercise of the first such renewal option, and prior to the expiration of the first Renewal Term with respect to the exercise of the second renewal option. In the event Tenant is in default on the date of the giving of notice of its intent to renew the Lease, the notice shall be ineffective; in the event Tenant is in default on the date the applicable Renewal Term is to commence, then the Renewal Term shall not commence and this Lease shall automatically terminate and be expire as of no further force the end of the Initial Lease Term or effect, and Landlord and the applicable Renewal Term. Tenant shall behave no right to renew this Lease beyond the expiration of the final Renewal Term. During each Renewal Term all of the terms and conditions of this Lease shall continue to apply, except that there shall be an adjustment to the amount of Basic Rent as provided for in Section 3.4 below.
Appears in 1 contract
Sources: Lease Agreement (Emeritus Corp\wa\)
Initial Lease Term. The terms TCCs and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the Building A Lease Commencement Date with respect to the Building A Premises and shall commence on the Building B Lease Commencement date set forth in Section 3.2 of with respect to the Summary Building B Premises (the Building A Lease Commencement Date and the Building B Lease Commencement Date may each be referred to herein as the “Lease Commencement Date”), and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter providedprovided or extended pursuant to Section 2.2 below. Notwithstanding the foregoing any provision to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated contrary set forth in this Lease if such delay is caused by the holding over of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”)Lease, Tenant shall have the rightright to occupy the Premises prior to the applicable Lease Commencement Date for the conduct of its business, in provided that (A) a temporary certificate of occupancy or its equivalent shall have been issued by the appropriate governmental authorities for each such portion to be occupied, and (B) all of the TCCs of this Lease shall apply as though the applicable Lease Commencement Date had occurred (although the applicable Lease Commencement Date shall not actually occur until the occurrence of the same pursuant to the TCCs of the second sentence of this Section 2.1) upon such occupancy of a portion of the Premises by Tenant, the parties acknowledging that during any such period of early occupancy Tenant shall be obligated to pay (i) Base Rent, (ii) Tenant’s discretionShare of the annual Direct Expenses and (iii) any other Additional Rent due under this Lease, applicable to terminate the entirety of any floor (including any portion thereof) of the Premises occupied by Tenant prior to the applicable Lease Commencement Date for the conduct of its business, notwithstanding the Rent Abatement set forth in Section 3.2 below. Tenant’s entry into the Premises for the purposes of designing, constructing and installing the Improvements or installing and testing furniture, fixtures, and equipment in the Premises, shall not constitute the conduct of business by Tenant for purposes of the preceding sentence. For purposes of this Lease, the term “Building A Lease by providing written Year” shall mean each consecutive twelve (12) calendar month period during the Lease Term; provided, however, that the first Building A Lease Year shall commence on the Building A Lease Commencement Date and end on the last day of the month in which the first anniversary of the Building A Lease Commencement Date occurs (or if the Building A Lease Commencement Date is the first day of a calendar month, then the first Building A Lease Year shall commence on the Building A Lease Commencement Date and end on the day immediately preceding the first anniversary of the Building A Lease Commencement Date), and the second and each succeeding Building A Lease Year shall commence on the first day of the next calendar month; and further provided that the last Building A Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof, provided that if such notice is not factually correct, then Tenant shall make such changes as are necessary to make such notice factually correct and shall thereafter return such notice to Landlord of such election by Tenant to termination this Lease within said ten (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (510) days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall bebusiness day period.
Appears in 1 contract
Sources: Office Lease (Box Inc)
Initial Lease Term. The Initial Lease Term shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Rent Commencement Date”) referred to in Section 7.2 of the Summary and shall terminate on the date (the “Lease Expiration Date”) set forth in Section 7.5 of the Summary, unless sooner terminated or extended as hereinafter provided. The period between the Rent Commencement Date and the Lease Expiration Date is referred to as the “Initial Lease Term”. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term starting with the Rent Commencement Date, and “Lease Term” shall mean the Initial Lease Term, as same may be extended. At any time during the Lease Term, Landlord may deliver to Tenant a Notice of Lease Term dates in the form as set forth in Exhibit C, attached hereto, which notice Tenant shall execute and return to Landlord within five (5) days of receipt thereof. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 , provided that, for clarity, regardless of the Summarydate Tenant actually occupies any of the Phases (but subject to any additional Base Rent abatement arising from Landlord’s unexcused failure to achieve the BSC Completion Condition by the Outside BSC Completion Date), (i) Tenant’s obligation to pay Base Rent for Phase I-A and Phase I-B shall commence on the date set forth in Section 3.2 first day of the Summary thirteenth (13th) month of the “Initial Lease Term (and Tenant’s obligation to pay Direct Expenses for Phases I-A and I-B shall commence on the Rent Commencement Date”), and ; (ii) Tenant’s obligation to pay Base Rent for Phase II shall terminate commence on the date set forth in Section 3.3 first day of the Summary twentieth (the “Lease Expiration Date”20th) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession month of the Premises Initial Lease Term (and Tenant’s obligation to Tenant pay Direct Expenses for Phase II shall commence on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over Phase II Determination Date); and (iii) Tenant’s obligation to pay Base Rent for Phase III shall commence on the first day of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession twenty-sixth (26th) month of the Premises Initial Lease Term (provided, however, in no event and its obligation to pay Direct Expenses for Phase III shall Landlord be required to instigate legal proceedingscommence on the Phase III Determination Date). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”), Tenant shall have the right, in Tenant’s discretion, to terminate this Lease by providing written notice to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (5) days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall be.
Appears in 1 contract
Sources: Lease (Beyond Meat, Inc.)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of “Rent,” as that term is defined in Section 4.1, below. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 7.1 of the Summary, Summary and shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”), ) set forth in Section 7.2 of the Summary (subject to the terms of the Tenant Work Letter) and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) set forth in Section 7.3 of the Summary, unless this Lease is sooner terminated or extended as hereinafter provided. Notwithstanding For purposes of this Lease, the foregoing to term “Lease Year” shall mean each consecutive twelve (12) month period during the contraryLease Term, Tenant hereby acknowledges that commencing on the Premises are currently occupied by an existing tenantLease Commencement Date and ending on the day before each anniversary thereof. At any time during the Lease Term, and that Landlord shall have no liability may deliver to Tenant for any damages resulting from any delay a factually correct notice of Lease Term dates in delivering possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated form as set forth in this Lease if such delay is caused by the holding over of the prior tenantExhibit C, and further provided that Landlordattached hereto, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, which notice Tenant shall receive a rent credit in the amount execute and return to Landlord within five (5) business days of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per dayreceipt thereof. Notwithstanding the foregoing, in the event Landlord fails Tenant shall be entitled to deliver occupancy of the Premises to Tenant on or before July 1, 2002 when the same are “Ready for Occupancy” (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (5.01 of the “Outside Date”Tenant Work Letter), and further Tenant shall have be allowed to early entry to the right, Premises in Tenant’s discretion, to terminate this Lease by providing written notice to Landlord accordance with the terms of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (5) days after the Outside Date. Upon the proper delivery by Tenant Section 6.1 of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beWork Letter for the purposes described therein.
Appears in 1 contract
Sources: Lease Agreement (Buy Com Inc)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 7.1 of the Summary, Summary and shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”)) set forth in Section 7.2 of the Summary, and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) set forth in Section 7.3 of the Summary, unless this Lease is sooner terminated or extended as hereinafter provided. Notwithstanding For purposes of this Lease, the foregoing to term “Lease Year” shall mean each consecutive twelve (12) month period during the contraryLease Term; provided, Tenant hereby acknowledges however, that the Premises are currently occupied by an existing tenant, first Lease Year shall commence on the Lease Commencement Date and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession end on the last day of the Premises to Tenant eleventh month thereafter and the second and each succeeding Lease Year shall commence on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over first day of the prior tenant, next calendar month; and further provided that Landlordthe last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to may deliver the Premises to Tenant on or before May 1a notice of Lease Term dates in the form as set forth in Exhibit C, 2002attached hereto, then, for each day Landlord delays in delivering the Premises to Tenant, which notice Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six execute and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”), Tenant shall have the right, in Tenant’s discretion, to terminate this Lease by providing written notice return to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than within five (5) business days after of receipt thereof, and thereafter the Outside Datedates set forth on such notice shall be conclusive and binding upon Tenant. Upon Failure of Tenant to timely execute and deliver the proper delivery Notice of Lease Term Dates shall constitute an acknowledgment by Tenant of that the Termination Noticestatements included in such notice are true and correct, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall bewithout exception.
Appears in 1 contract
Sources: Office Lease (Nara Bancorp Inc)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 7.1 of the Summary, Summary and shall commence on the date set forth Lease Commencement Date described in Section 3.2 7.2 of the Summary (the “Lease Commencement Date”), and shall terminate on the date Lease Expiration Date set forth in Section 3.3 7.4 of the Summary (the “Lease Expiration Date”) Summary, unless this Lease is sooner terminated or extended as hereinafter provided. Notwithstanding the foregoing to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that If Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering does not deliver possession of the Premises to Tenant on or before the Anticipated Lease Commencement Date (as set forth in Section 7.2 of the Summary) or any particular delivery date designated by other date, Landlord shall not be subject to any liability nor shall the validity of this Lease nor the obligations of Tenant hereunder be affected. Notwithstanding the foregoing provisions of this Section 2.1 or designated anything else in this Lease to the contrary, if such delay is the Lease Commencement Date does not occur prior to April 1,2013 for any reason other than delays caused by the holding over of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”), Tenant shall have the right, in as Tenant’s discretionsole and exclusive remedy for a delivery failure, to terminate this Lease by providing written notice to Landlord delivered prior to the Lease Commencement Date and upon such termination all sums previously deposited with Landlord shall be refunded to Tenant and thereafter the parties shall have no further rights or obligations hereunder (except to the extent otherwise expressly set forth herein). Within a reasonable period of time after the date Tenant takes possession of the Premises Landlord shall deliver to Tenant a Commencement Date Memorandum in the form attached hereto as Exhibit C, attached hereto, setting forth the Lease Commencement Date, the Rent Commencement Date and the Lease Expiration Date, and Tenant shall execute and return such election by Tenant amendment to termination this Lease Landlord within ten (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (510) days after Tenant’s receipt thereof. If Tenant fails to execute and return the Outside Date. Upon amendment within such 10-day period, Tenant shall be deemed to have approved and confirmed the proper delivery by dates set forth therein, provided that such deemed approval shall not relieve Tenant of its obligation to execute and return the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beamendment.
Appears in 1 contract
Sources: Lease (Invitae Corp)
Initial Lease Term. The terms and provisions of this This Lease shall be effective as of the date of this Lease. The for a term of this Lease (herein called the “Lease Term”) specified in the Basic Lease Information; and the Lease Term shall be commence on the date provided for in the Basic Lease Information and shall end on the date provided for therein, unless sooner terminated or extended as provided herein. Tenant expressly acknowledges that the Premises are occupied by the Former Tenant pursuant to a lease between Landlord and the Former Tenant which is scheduled to expire on May 31, 2020. Landlord shall use commercially reasonable efforts to deliver possession of the Premises to Tenant on or prior to the Commencement Date set forth in Section 3.1 the Basic Lease Information (the actual date of such delivery shall be referred to herein as the “Delivery Date”); provided, however, if on the Delivery Date, there are Laws, including, but not limited to, governmental emergency orders, governmental health orders, governmental executive orders, and governmental emergency directives, in effect that prohibit Tenant from conducting its business on the Premises due to the COVID-19 pandemic (such laws, collectively, the “COVID-19 Laws”), then the Delivery Date (and Landlord’s actual delivery of the SummaryPremises) and the Commencement Date shall be tolled, and shall not be deemed to occur until such COVID-19 Laws permit Tenant to legally conduct of its business on the Premises, and in such event, the following provisions shall apply: (i) the Lease Term shall not commence on the date set forth in Section 3.2 the Basic Lease Information, but shall commence on the earliest date thereafter that Landlord delivers possession of the Summary Premises to Tenant and the COVID-19 Laws do not prohibit Tenant from legally conducting its business on the Premises; (ii) neither the “validity of this Lease nor the obligations of Tenant under this Lease shall be affected thereby, except that (x) the Lease Term shall begin (and the Commencement Date”) shall be deemed to occur on the actual date that the Delivery Date occurs (provided that COVID-19 Laws do not prohibit Tenant from legally conducting its business on the Premises on such date), ; and (y) the Rent Commencement Date shall terminate be ninety (90) days after the date that the Commencement Date occurs; (iii) Tenant shall have no claim against Landlord because of Landlord’s failure to deliver possession of the Premises on the date set forth originally fixed therefor; (iv) Tenant shall have no additional right to terminate this Lease or ▇▇▇▇▇ Rent pursuant to this Lease if the COVID-19 Laws in Section 3.3 effect after the Commencement Date prohibit Tenant from legally occupying the Premises for the conduct of its business (except that the foregoing shall not be an exemption of liability under any insurance procured by Tenant under this Lease, relating to the Premises, or relating to Tenant’s conducting its business on the Premises for failures or delays in the performance of the Summary Lease for the period that the failure or delay is a result of an act of government that results in the frustration of the purpose of the contract); and (v) the “Expiration Date of the Term shall be extended beyond the date specified in the Basic Lease Expiration Date”) unless this Lease is sooner terminated Information by one day for every day during the period commencing on June 1, 2020, until the actual Commencement Date occurs, as hereinafter providedprovided herein. Notwithstanding the foregoing to the contraryforegoing, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that if (a) Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering has not delivered possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated in prior to October 1, 2020; and (b) as of October 1, 2020, COVID-19 Laws do not prohibit Tenant from legally conducting its business on the Premises, then Tenant shall have the right to terminate this Lease upon delivery to Landlord of written notice of its election to do so on or prior to October 10, 2020. Further, notwithstanding the foregoing, if such delay is caused by the holding over of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure (1) Landlord has not delivered possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May prior to October 1, 20022020; and (2) as of October 1, then2020, for each day the COVID-19 Laws prohibit Tenant from legally conducting its business on the Premises, and Tenant has not accepted possession of the Premises, then Landlord delays in delivering the Premises to Tenant, and Tenant shall receive each have the right to terminate this Lease by delivery of written notice to the other party of its election to do so on or prior to October 10, 2020. If either party is entitled to exercise a rent credit in the amount of Three Hundred Thirty-Six right to terminate this Lease pursuant to Section 3.1 and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver such written notice to the Premises to Tenant other party on or before July prior to October 10, 2020, then such party shall have no further right to terminate this Lease due to failure of the Delivery Date or the Commencement Date not occurring prior to October 1, 2002 2020. If either party exercises its right to terminate this Lease pursuant to this Section 3.1, Landlord shall return any and all Rent, Security Deposit and Letter of Credit previously delivered by Tenant to Landlord within ten (which date 10) business days and neither party shall have any liability or obligations hereunder. Each party’s right to terminate this Lease pursuant to this Section 3.1 shall be extended as a result such party’s sole right and/or remedy for the failure of any “Force Majeure,” as that term is defined in Section 29.16the Delivery Date and/or the Commencement Date to occur on or prior to October 1, below) (the “Outside Date”), 2020. Tenant shall have the right, at its option, to accept possession of the Premises even if COVID-19 Laws prohibit access to the Premises. Notwithstanding anything to the contrary contained herein, if Landlord tenders possession of the Premises to Tenant (A) prior to the date specified in the Basic Lease Information for the commencement of the Term; or (B) as of a date that COVID-19 Laws prohibit Tenant from legally conducting its business on the Premises, and Tenant chooses to accept such possession, then the Term and Tenant’s discretionobligations hereunder shall commence (and the Commencement Date shall occur) on the date that Tenant accepts such possession, but in no event shall the Expiration Date or the Rent Commencement Date be advanced by such early possession. In the event that the actual Commencement Date is a date which is other than the Commencement Date set forth in the Basic Lease Information, within a reasonable period of time after the date Tenant takes possession of the Premises Landlord shall deliver to terminate Tenant an amendment to this Lease by providing written notice that shall be limited to setting forth the actual Commencement Date, the Rent Commencement Date and the Expiration Date, which amendment Tenant shall execute and return to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than within five (5) days after Tenant’s receipt thereof. If Tenant fails to execute and return the Outside Date. Upon amendment within such 5- day period or provide written objection thereto, Tenant shall be deemed to have approved and confirmed the proper delivery by dates set forth therein, provided that such deemed approval shall not relieve Tenant of its obligation to execute and return the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beamendment.
Appears in 1 contract
Sources: Lease Agreement (UserTesting, Inc.)
Initial Lease Term. The terms Subject to the satisfaction of the conditions set forth in Part I, Section 3 and provisions 4, and regardless of the date of the execution of this Agreement or of the Delivery Date as defined in this Agreement, the Term of this Lease shall commence effective retroactively to February 1, 1996 (the "Commencement Date") and shall extend for a period of fifteen (15) years thereafter, unless extended or earlier terminated as provided herein (the "Initial Lease Term").
Section 2.1.1. Tenant shall have the right to renew this Lease beyond the Initial Lease Term for two five (5) year renewal term(s) (the "Renewal Term(s)) by giving notice of the exercise of its renewal option at least one hundred twenty (120) days prior to the expiration of the Initial Lease Term and each Renewal Term. In the event Tenant is in default on the date of the giving of notice of its intent to renew the Lease, the notice may at Landlord's option be effective ineffective; in the event Tenant is in default on the date the applicable Renewal Term is to commence, then at Landlord's option the Renewal Term shall not commence and this Lease may expire as of the date end of the Initial Lease Term or any applicable Renewal Term.
Section 2.1.2. Upon the termination of this Lease. The term , whether by forfeiture, lapse of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 time or otherwise, or upon termination of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”), and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing Tenant's right to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession of the Premises Premises, Tenant will at once surrender and deliver the Premises, together with all improvements thereof, to Tenant on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over of the prior tenant, and further provided that Landlord, at its expense(but, except as otherwise provided in Part II, Section 1.2, specifically excluding Tenant's Equipment) in good condition and repair, reasonable wear and tear excepted. At the time of surrender, Tenant shall take all actions reasonably necessary to secure possession of the Premises (remove Tenant's Equipment; provided, however, in no event that Tenant shall Landlord be required repair any injury or damage done to instigate legal proceedings). In the event Landlord fails to deliver premises which may result from such removal and shall restore the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises same condition as existed prior to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”), Tenant shall have the right, in Tenant’s discretion, to terminate this Lease by providing written notice to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (5) days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beinstallation thereof.
Appears in 1 contract
Initial Lease Term. The terms and Subject to the provisions of this Lease shall be effective as of Section 2.1.1, the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the date of execution as first set forth in Section 3.2 of the Summary above (the “Lease "Commencement Date”), ") and shall terminate on continue for a period of twenty (20) years following the date set forth in Section 3.3 of the Summary "Rent Commencement Date" (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined below), subject to (i) the right of Tenant to extend the term as provided for in Section 29.162. 1.1 below and (ii) any earlier termination by either party, below) as permitted herein (the “Outside Date”"Initial Lease Term"). Notwithstanding the foregoing in the event the Lease Term expires on any day other than the last day of a calendar month, the Lease Term shall be automatically extended by the number of days necessary to cause the Lease Term to expire on the last day of the month.
Section 2.1.1. Tenant shall have the right, in Tenant’s discretion, right to terminate renew this Lease by providing written notice to Landlord of such election by Tenant to termination this beyond the Initial Lease Term for two (2) successive ten (10) year renewal terms (the “Termination Notice”)"Renewal Terms" and together with the Initial Lease Term, which Termination Notice must be given, if at all, no later than five (5the "Lease Term") days after the Outside Date. Upon the proper delivery by Tenant giving notice of the Termination Noticeexercise of its renewal option at least fifteen (15) months prior to the expiration of the Initial Lease Term with respect to the exercise of the first such renewal option, and prior to the expiration of the first Renewal Term with respect to the exercise of the second renewal option. In the event Tenant is in default on the date of the giving of notice of its intent to renew the Lease, the notice shall be ineffective; in the event Tenant is in default on the date the applicable Renewal Term is to commence, then the Renewal Term shall not commence and this Lease shall automatically terminate and be expire as of no further force the end of the Initial Lease Term or effect, and Landlord and the applicable Renewal Term. Tenant shall behave no right to renew this Lease beyond the expiration of the final Renewal Term. During each Renewal Term all of the terms and conditions of this Lease shall continue to apply, except that there shall be an adjustment to the amount of Basic Rent as provided for in Section 3.4 below.
Appears in 1 contract
Sources: Lease Agreement (Emeritus Corp\wa\)
Initial Lease Term. The terms and provisions of this "Initial Lease shall be effective as Term" for the Premises ------------------ will commence, on a floor-by-floor basis, fifteen (15) days following Landlord's substantial completion of the date shell and core of this Lease. The term of this Lease the Building (as detailed on Exhibit D attached hereto) and --------- the tenant improvements (the “Lease Term”scope of which is described on Exhibit E attached hereto), including without limitation the --------- following:
(A) shall be as set forth in Section 3.1 the utility and other systems servicing the Building and necessary for the operation of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”), Building or Tenant's occupancy and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession full enjoyment of the Premises (providedsuch as elevators, howeverplumbing, heating, ventilating, air conditioning, electrical and security systems) shall be completed and in no event good order and operating condition except for details of construction, decoration and mechanical adjustments which do not materially interfere with Tenant's use of the Premises;
(B) The lobby of the Building and the entrances and public portions (including the garage), stairways, corridors and elevators (including freight elevators) of the Building shall Landlord have been finished (except for details of construction, decoration and mechanical adjustments which do not materially detract from the appearance of such areas or materially interfere with their use for normal purposes) and shall be required in a clean and orderly condition affording reasonable access to instigate legal proceedingsall portions of the Premises;
(C) The exterior of the Building (including the installation of glass therein) shall have been completed except for minor portions thereof which in the aggregate do not materially affect Tenant's use of the Premises; and
(D) the tenant improvements on such floor have been substantially completed (meaning they are fully completed in accordance with the approved plans and specifications and ready for use by Tenant except for minor punchlist items that do not materially affect Tenant's use thereof). In the event Additionally, Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”), Tenant shall have obtained a temporary Certificate of Occupancy for the rightBuilding and a temporary Certificate of Occupancy with respect to such floor of the Premises, in Tenant’s discretioneach issued by the City of Bellevue. Tenant may use the fifteen (15) day period following substantial completion, as described above, to terminate this move its furniture and fixtures into the Premises. Each such date, on a floor-by-floor basis, is the "Commencement Date." The Initial Lease by providing written notice to Landlord of such election by Tenant to termination this Lease (Term will expire on that date which is the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (5) days after the Outside Date. Upon the proper delivery by Tenant last day of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and month eight (8) years following the last Commencement Date to occur for floors one through four. Landlord and Tenant shall beconfirm in writing the Commencement Date applicable to each floor of the Premises. Landlord and Tenant estimate that the Commencement Date shall be as follows for each of the floors: (i) first floor: February 1, 2001; (ii) second floor: February 15, 2001; (iii) third floor: March 1, 2001; and (iv) fourth floor: March 15, 2001.
Appears in 1 contract
Sources: Lease Agreement (Stamps Com Inc)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the date “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary (the “Lease Commencement Date”)Summary, and shall terminate on the date “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) Summary, unless this Lease is sooner terminated as hereinafter provided. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided that if such notice is not factually correct, then Tenant shall make such changes as are necessary to make such notice factually correct and shall thereafter return such notice to Landlord within said ten (10) business day period. Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. Notwithstanding the foregoing or anything to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated contrary set forth in this Lease if such delay is caused by the holding over of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”)Lease, Tenant shall have the rightright to occupy the Phase II Premises and/or the Hold Space (in the event that Tenant properly exercises its rights set forth in Section 1.3, in Tenant’s discretionabove) (individually or collectively, to terminate this Lease by providing written notice to Landlord of such election by Tenant to termination this Lease (as the content may require, the “Termination NoticeBeneficial Occupancy Space”), which Termination Notice must be givenfor the conduct of Tenant’s business prior to the Phase II Lease Commencement Date, if provided that (i) Tenant shall give Landlord at all, no later than least five (5) days after the Outside Date. Upon the proper delivery by Tenant days’ prior notice of any such occupancy of the Termination NoticeBeneficial Occupancy Space, (ii) a certificate of occupancy, temporary certificate of occupancy, or its legal equivalent shall have been issued by the appropriate governmental authorities for the Beneficial Occupancy Space, as may be required by such governmental authorities in order for Tenant to legally occupy the Beneficial Occupancy Space, and (iii) all of the terms and conditions of this Lease shall automatically terminate and be apply (other than Tenant’s obligation to pay Base Rent), including Tenant’s obligation to pay Tenant’s Share of no further force or effectBuilding Direct Expenses attributable to the Beneficial Occupancy Space, and Landlord and Tenant as though the Phase II Lease Commencement Date had occurred (although the Phase II Lease Commencement Date shall benot actually occur until the occurrence of the same pursuant to Section 3.2 of the Summary, above) upon such occupancy of the Beneficial Occupancy Space by Tenant.
Appears in 1 contract
Sources: Office Lease (Trulia, Inc.)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 7.1 of the Summary, Summary and shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”) set forth in Section 7.2 of the Summary (subject, however, to the terms of Section 5 of the Tenant Work Letter), and shall terminate expire on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”) set forth in Section 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term commencing on the Lease Commencement Date; provided that the last Lease Year shall end on the Lease Expiration Date. Notwithstanding the foregoing to definition of the contraryLease Commencement Date for the Premises, if Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability to Tenant for any damages resulting commences business operations from any delay in delivering possession portion of the Premises or the Additional Space, as the case may be, prior to Tenant on any particular delivery date designated by Landlord or designated in the occurrence of the Lease Commencement Date (each space occupied to be known as the “Pre-Occupancy Space”), all of the terms and conditions of this Lease if such delay is caused by the holding over of the prior tenant, and further provided shall apply to that Landlord, at its expense, shall take all actions reasonably necessary to secure possession portion of the Premises (providedcontaining the Pre-Occupancy Space, however, in no event shall Landlord be required to instigate legal proceedings). In except that during the event Landlord fails to deliver period commencing on the Premises to date Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering commences business operations from the Premises to Tenant, Tenant shall receive a rent credit in applicable Pre-Occupancy Space and continuing until the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) Lease Commencement Date (the “Outside DatePre-Occupancy Period”), Tenant shall have no obligation to pay Base Rent (but shall be responsible for parking charges for all parking spaces used); provided that if Tenant occupies more than fifty percent (50%) of the rightPremises for the purpose of conducting business in the Premises, then Tenant shall pay- to Landlord in accordance with the terms of Article 3, Base Rent for the Pre-Occupancy Space equal to the product of (a) Dollars ( ), and (b) the rentable square feet of the Pre-Occupancy Space. Tenant shall have the right to commence business operations from any portion of the Premises during the Pre-Occupancy Period, provided that a certificate of occupancy or its equivalent permitting occupancy shall have been issued by the appropriate governmental authorities for the Pre-Occupancy Space. Notwithstanding anything to the contrary contained herein, Tenant shall be responsible to pay “Tenant’s discretionShare” of “Direct Expenses,” as those terms are defined in Section 4.1 of this Lease, to terminate this Lease by providing written notice to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”)during June, which Termination Notice must be given, if at all, no later than five (5) days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall be1997.
Appears in 1 contract
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 7.1 of the Summary, Summary and shall commence on the date (the "Lease Commencement Date") set forth in Section 3.2 7.2 of the Summary (subject, however, to the “Lease Commencement Date”terms of the Tenant Work Letter), and shall terminate on the date (the "Lease Expiration Date") set forth in Section 3.3 7.3 of the Summary (the “Lease Expiration Date”) Summary, unless this Lease is sooner terminated as hereinafter provided. Notwithstanding For purposes of this Lease, the foregoing to term "Lease Year" shall mean each consecutive twelve (12) month period during the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Lease Term. If Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering does not deliver possession of the Premises to Tenant Tenant, in a state of Substantial Completion (as such capitalized term is defined in Exhibit B hereto) on or before the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the Summary), Landlord shall not be subject to any particular delivery date designated by Landlord or designated in liability nor shall the validity of this Lease if such delay is caused by nor the holding over obligations of the prior tenant, and further provided that Landlord, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord Tenant hereunder be required to instigate legal proceedings)affected. In the event that the Lease Commencement Date is a date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) of the Summary, within a reasonable period of time after the date Tenant takes possession of the Premises, Landlord fails to shall deliver the Premises to Tenant on or before May 1a confirmation to lease in the form attached hereto as Exhibit C, 2002attached hereto, thensetting forth, for each day Landlord delays in delivering among other things, the Premises to TenantLease Commencement Date and the Lease Expiration Date, and Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six execute and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (the “Outside Date”), Tenant shall have the right, in Tenant’s discretion, to terminate this Lease by providing written notice return such confirmation to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than within five (5) days after ▇▇▇▇▇▇'s receipt thereof. Notwithstanding anything set forth herein to the Outside Date. Upon the proper delivery by Tenant contrary, Landlord shall employ commercially reasonable best efforts to deliver possession of the Termination NoticePremises to Tenant, this in a state of Substantial Completion, by the anticipated Lease shall automatically terminate and be Commencement Date set forth in Section 7.2(ii) of no further force or effect, and Landlord and Tenant shall bethe Summary.
Appears in 1 contract
Sources: Office Lease (Pc Mall Inc)
Initial Lease Term. The terms TCCs and provisions of this Lease shall be effective as of the date of this LeaseEffective Date. The term of this Lease with respect to each Phase of the Premises (each the “applicable "Lease Term”") shall be the period commencing on the Lease Commencement Date (as set forth in Section 3.1 defined below) for such Phase of the Summary, Premises and ending on the Lease Expiration Date (as defined below) for such Phase of the Premises. The term of the Lease Term shall commence with respect to each Phase of the Premises on the applicable date set forth in Section 3.2 of the Summary for such Phase of the Premises (each, the “applicable "Lease Commencement Date”"), and . The Lease Term with respect to each Tranche of the Premises shall terminate on the date set forth in Section 3.3 of the Summary as the Lease Expiration Date with respect to such Tranche (each, the “applicable "Lease Expiration Date”") unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing to the contrary, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that If Landlord shall have no liability to Tenant is unable for any damages resulting from any delay in delivering reason to deliver possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated specific date, then, except as expressly set forth in this Lease if and/or the Work Letter, Landlord shall not be subject to any liability for its failure to do so, and such delay is caused by failure shall not affect the holding over validity of this Lease or the obligations of Tenant hereunder. Promptly following each Lease Commencement Date, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto ("Commencement Letters"), as a confirmation only of the prior tenantinformation set forth therein, which Tenant shall execute and further provided that return to Landlord within thirty (30) days of receipt thereof. If Tenant fails to sign and return a particular Commencement Letter to Landlord within thirty (30) days of its receipt from Landlord, at its expense, the Commencement Letter as sent by Landlord shall take all actions reasonably necessary be deemed to secure possession of have correctly set forth the Premises (provided, however, matters addressed in no event shall Landlord be required to instigate legal proceedings)it. In the event If Landlord fails to deliver the Premises a Commencement Letter to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenantwithin thirty (30) days after a particular Lease Commencement Date, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six be permitted to prepare and No/100 Dollars ($336.00) per daysend to Landlord such particular Commencement Letter. Notwithstanding the foregoing, in the event If Landlord fails to deliver the Premises sign and return a particular Commencement Letter to Tenant on or before July 1within thirty (30) days of its receipt from Tenant, 2002 (which date the Commencement Letter as sent by Tenant shall be extended as a result of any “Force Majeure,” as that term is defined deemed to have correctly set forth the matters addressed in Section 29.16, below) (the “Outside Date”), Tenant shall have the right, in Tenant’s discretion, to terminate this Lease by providing written notice to Landlord of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (5) days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beit.
Appears in 1 contract
Sources: Office Lease (Salesforce Com Inc)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”"LEASE TERM") shall be as set forth in Section 3.1 of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “Lease Commencement Date”"LEASE COMMENCEMENT DATE"), and shall terminate on the date set forth in Section 3.3 of the Summary (the “Lease Expiration Date”"LEASE EXPIRATION DATE") unless this Lease is sooner terminated as hereinafter provided. Notwithstanding Tenant shall have the foregoing right to occupy the Premises prior to the contraryLease Commencement Date for the conduct of Tenant's business, provided that (A) Tenant hereby acknowledges that shall give Landlord at least ten (10) days' prior notice of any such occupancy of the Premises are currently occupied Premises, (B) a temporary certificate of occupancy, or its equivalent, shall have been issued by an existing tenantthe appropriate governmental authorities for the Premises, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession (C) all of the Premises to Tenant on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over terms and conditions of the prior tenantLease shall apply, and further provided that Landlord, at its expense, shall take all actions reasonably necessary other than Tenant's obligation to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeurepay "Base Rent,” " as that term is defined in Section 29.16Article 3, below, and "Tenant's Share" of the annual "Direct Expenses," as those terms are defined in Article 4, below, as though the Lease Commencement Date had occurred (although the Lease Commencement Date shall not actually occur until the occurrence of the same pursuant to the terms of the second sentence of this Article 2) upon such occupancy of the Premises by Tenant. For purposes of this Lease, the term "LEASE YEAR" shall mean each consecutive twelve (12) month period during the “Outside Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the twelfth month thereafter and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date”. Within thirty (30) days following the Lease Commencement Date (and, if applicable, the commencement of any Option Term), Landlord may deliver to Tenant a notice in the form as set forth in EXHIBIT C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) days of receipt thereof, provided that in the event that such notice is not factually correct, Tenant shall have the right, in Tenant’s discretion, right to terminate this Lease by providing written notice make such changes as may be necessary to make the same factually correct and shall thereafter execute and return the same to Landlord of within such election by Tenant to termination this Lease ten (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (510) days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beday period.
Appears in 1 contract
Sources: Office Lease (Equity Marketing Inc)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the date set forth in Section 3.2 of the Summary (the “"Lease Commencement Date”"), and shall terminate on the date set forth in Section 3.3 of the Summary (the “"Lease Expiration Date”") unless this Lease is sooner terminated as hereinafter provided. Notwithstanding Tenant shall have the foregoing right to occupy the Second Floor Premises and/or the Third Floor Premises subsequent to the contrarydelivery of such space by Landlord pursuant to the terms of Section 1 of the Tenant Work Letter and prior to the expiration of the applicable Construction Period for such space for the conduct of Tenant's business, provided that (A) Tenant hereby acknowledges that shall give Landlord at least ten (10) days' prior notice of any such occupancy of any such portion of the Premises are currently occupied Premises, (B) a temporary certificate of occupancy, or its equivalent, shall have been issued by an existing tenantthe appropriate governmental authorities for any such portion of the Premises, and that Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession (C) all of the Premises to Tenant on any particular delivery date designated by Landlord or designated in this Lease if such delay is caused by the holding over terms and conditions of the prior tenantLease shall apply, and further provided that Landlord, at its expense, shall take all actions reasonably necessary other than Tenant's obligation to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, Tenant shall receive a rent credit in the amount of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per day. Notwithstanding the foregoing, in the event Landlord fails to deliver the Premises to Tenant on or before July 1, 2002 (which date shall be extended as a result of any “Force Majeurepay "Base Rent,” " as that term is defined in Section 29.16Article 3, below, and "Tenant's Share" of the annual "Direct Expenses," as those terms are defined in Article 4, below, as though the Lease Commencement Date had occurred (although the Lease Commencement Date shall not actually occur until the occurrence of the same pursuant to the terms of the second sentence of this Article 2
.1) upon such occupancy of any such portion of the Premises by Tenant. For purposes of this Lease, the term "Lease Year" shall mean each consecutive twelve (12) month period during the “Outside Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the twelfth month thereafter and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date”. Within thirty (30) days following the Lease Commencement Date (and, if applicable, the commencement of any Option Term), Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) days of receipt thereof, provided that in the event that such notice is not factually correct, Tenant shall have the right, in Tenant’s discretion, right to terminate this Lease by providing written notice make such changes as may be necessary to make the same factually correct and shall thereafter execute and return the same to Landlord of within such election by Tenant to termination this Lease ten (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (510) days after the Outside Date. Upon the proper delivery by Tenant of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beday period.
Appears in 1 contract
Sources: Office Lease (Artistdirect Inc)
Initial Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of "Rent," as that term is defined in Section 4.1, ----------- below. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 7.1 of the Summary, Summary and shall commence on the date (the "Lease ----------- Commencement Date") set forth in Section 3.2 7.2 of the Summary (subject to the “Lease Commencement Date”), ----------- terms of the Tenant Work Letter) and shall terminate on the date (the "Lease Expiration Date") set forth in Section 3.3 7.3 of the Summary (the “Lease Expiration Date”) Summary, unless this Lease is sooner ----------- terminated or extended as hereinafter provided. Notwithstanding For purposes of this Lease, the foregoing to term "Lease Year" shall mean consecutive twelve (12) month period during the contraryLease Term. At any time during the Lease Term, Tenant hereby acknowledges that the Premises are currently occupied by an existing tenant, and that Landlord shall have no liability may deliver to Tenant for any damages resulting from any delay a factually correct notice of Lease Term dates in delivering possession of the Premises to Tenant on any particular delivery date designated by Landlord or designated form as set forth in this Lease if such delay is caused by the holding over of the prior tenantExhibit C, and further provided that Landlordattached hereto, at its expense, shall take all actions reasonably necessary to secure possession of the Premises (provided, however, in no event shall Landlord be required to instigate legal proceedings). In the event Landlord fails to deliver the Premises to Tenant on or before May 1, 2002, then, for each day Landlord delays in delivering the Premises to Tenant, which notice Tenant shall receive a rent credit in the amount execute and return to Landlord within five (5) business days of Three Hundred Thirty-Six and No/100 Dollars ($336.00) per dayreceipt thereof. Notwithstanding the foregoing, in the event Landlord fails Tenant shall be entitled to deliver occupancy of the Premises to Tenant on or before July 1, 2002 when the same are "Ready for Occupancy" (which date shall be extended as a result of any “Force Majeure,” as that term is defined in Section 29.16, below) (5.01 of the “Outside Date”Tenant Work Letter), and ------------ further Tenant shall have be allowed to early entry to the right, Premises in Tenant’s discretion, to terminate this Lease by providing written notice to Landlord accordance with the terms of such election by Tenant to termination this Lease (the “Termination Notice”), which Termination Notice must be given, if at all, no later than five (5) days after the Outside Date. Upon the proper delivery by Tenant Section 6.1 of the Termination Notice, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall beWork Letter for the purposes described therein.
Appears in 1 contract
Sources: Lease (Buy Com Inc)