Landlord’s Base Building Work. (a) Landlord shall complete Landlord’s Base Building Work as set forth in the Landlord Work Letter attached as Exhibit B hereto in a good and workmanlike manner, in accordance with the Plans and Specifications and all applicable laws, regulations, rules, codes and ordinances, including without limitation all laws pertaining to disability access and all Environmental Laws applicable to Landlord’s Base Building Work. Upon Substantial Completion, the Parties shall execute the Certificate of Substantial Completion attached hereto as Exhibit B-1. (b) Subject to force majeure as provided in Section 14.6 below, not to exceed thirty (30) days in the aggregate, and any Tenant Delay, if the Lease Commencement Date has not occurred on or before the sixtieth (60th) day following the Estimated Delivery Date, Tenant shall be entitled to a credit of one (1) day of the Annual Fixed Rent and Additional Rent for each day after such date until the Lease Commencement Date, such credit to be applied to Annual Fixed Rent and Additional Rent commencing on the Rent Commencement Date (but applied after any abatement or free rent period) and continuing thereafter until such credit is exhausted. (c) Subject to force majeure as provided in Section 14.6 below, not to exceed thirty (30) days in the aggregate, and any Tenant Delay, in the event that the Lease Commencement Date has not occurred on or before the one hundred eightieth (180th) day following the Estimated Delivery Date (the “Outside Delivery Date”), Tenant may terminate this Lease by written notice delivered to Landlord within ten (10) business days after the Outside Delivery Date, such termination to be effective as of the date of such notice, whereupon such termination the Parties shall be released and discharged from all further obligations under this Lease, except such obligations that by the terms of this Lease survive termination, including without limitation subsection (d) below. (d) Notwithstanding a notice of termination given by Tenant pursuant to subsection (c) above, if the Lease Commencement Date occurs within thirty (30) days after Landlord’s receipt of such notice from Tenant, then such notice shall be void ab initio (from the beginning) and have no force or effect whatever and this Lease shall continue uninterrupted. (e) If the Lease is terminated by Tenant as provided in subsection (c) above, and such termination is not voided pursuant to the provisions of subsection (d) above, then Landlord shall reimburse Tenant for Tenant’s reasonable, documented, out-of-pocket costs and expenses incurred in connection with this Lease within thirty (30) days following Landlord’s receipt of an invoice therefor containing reasonable evidence of such out-of-pocket expenses incurred, provided that such sum to be reimbursed shall not exceed $25,000 in the aggregate, which obligation shall survive the termination of the Lease. (f) Notwithstanding anything to the contrary contained herein, in no event shall Tenant’s liability to Landlord under this Lease prior to the Lease Commencement Date exceed the Construction Period Maximum Liability, including any amounts drawn by Landlord upon the Letter of Credit.
Appears in 1 contract
Sources: Lease Agreement (CarGurus, Inc.)
Landlord’s Base Building Work. Landlord at its sole cost and expense shall:
(a) Construct a cafeteria on the first floor of the Building (the “Cafeteria”) that will be open to serve Tenant, other tenants in the Building, and tenants of Tri-Park Corporate Park (200 ▇▇▇▇▇▇ Drive and ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇) no later than January 2, 2012, subject, however to an extension of no more than sixty (60) days in the event there is a delay in the permitting of such improvement
(b) Be responsible for the demise of the Demised Premises on the 1st floor, including, but not limited to construction of the demising walls, ceiling tiles, above ceiling HVAC, life safety systems, and the refinishing of common areas and elevator lobby to building standards no later than March 1, 2012, provided that Tenant surrenders the Give-back Space in accordance with Section 1.07 of the Lease;
(c) Renovate the lobby, all common areas and rest rooms of the Building and install a building energy management system no later than January 2, 2012;
(d) Install four (4) separate submeters to measure Tenant’s consumption of electricity within the Demised Premises no later than March 1, 2012. Any more than 4 submeters shall be installed by Landlord at Tenant’s sole cost and expense;
(e) Construct a fitness center on the 1st floor of the Building (the “Fitness Center”) that shall complete be open for use by Tenant’s employees free of charge no later than January 2, 2012, subject, however to an extension of no more than sixty (60) days in the event there is a delay in the permitting of such improvement, and provided that Tenant surrenders the Give-back Space in accordance with Section 1.07 of the Lease The above items are referred to as “Landlord’s Base Building Work.” Landlord’s Work as set forth in the Landlord Work Letter attached as Exhibit B hereto shall be performed in a good and workmanlike manner, manner in accordance with the Plans and Specifications and all applicable lawsLaws; in addition, regulationsitems (a), rules, codes and ordinances, including without limitation all laws pertaining to disability access and all Environmental Laws applicable to Landlord’s Base Building Work. Upon Substantial Completion, the Parties shall execute the Certificate of Substantial Completion attached hereto as Exhibit B-1.
(b) Subject to force majeure as provided in Section 14.6 below), not to exceed thirty (30) days in the aggregate, and any Tenant Delay, if the Lease Commencement Date has not occurred on or before the sixtieth (60th) day following the Estimated Delivery Date, Tenant shall be entitled to a credit of one (1) day of the Annual Fixed Rent and Additional Rent for each day after such date until the Lease Commencement Date, such credit to be applied to Annual Fixed Rent and Additional Rent commencing on the Rent Commencement Date (but applied after any abatement or free rent period) and continuing thereafter until such credit is exhausted.
(c) Subject to force majeure as provided in Section 14.6 below, not to exceed thirty (30) days in the aggregate, and any Tenant Delay, in the event that the Lease Commencement Date has not occurred on or before the one hundred eightieth (180th) day following the Estimated Delivery Date (the “Outside Delivery Date”), Tenant may terminate this Lease by written notice delivered to Landlord within ten (10) business days after the Outside Delivery Date, such termination to be effective as of the date of such notice, whereupon such termination the Parties shall be released and discharged from all further obligations under this Lease, except such obligations that by the terms of this Lease survive termination, including without limitation subsection (d) below.
(d) Notwithstanding a notice of termination given by Tenant pursuant to subsection (c) above, if the Lease Commencement Date occurs within thirty (30) days after Landlord’s receipt of such notice from Tenant, then such notice shall be void ab initio (from the beginning) and have no force or effect whatever and this Lease shall continue uninterrupted.
(e) If the Lease is terminated by Tenant as provided in subsection (c) above, of Landlord’s Work will be performed with a quality and such termination is not voided pursuant level of finish comparable to the provisions quality and level of subsection (d) above, then Landlord shall reimburse Tenant for Tenant’s reasonable, documented, out-of-pocket costs and expenses incurred in connection with this Lease within thirty (30) days following Landlord’s receipt of an invoice therefor containing reasonable evidence of such out-of-pocket expenses incurred, provided that such sum to be reimbursed shall not exceed $25,000 finish in the aggregate, which obligation shall survive the termination corresponding portions of the Leasebuilding located at 499 Thornall, Edison, New Jersey.
(f) Notwithstanding anything to the contrary contained herein, in no event shall Tenant’s liability to Landlord under this Lease prior to the Lease Commencement Date exceed the Construction Period Maximum Liability, including any amounts drawn by Landlord upon the Letter of Credit.
Appears in 1 contract
Landlord’s Base Building Work. (a) Landlord shall complete Landlord’s Base Building Work as set forth in the Landlord Work Letter attached as Exhibit B hereto in a good and workmanlike manner, in accordance with the Plans and Specifications and all applicable laws, regulations, rules, codes and ordinances, including without limitation all laws pertaining to disability access and all Environmental Laws applicable to Landlord’s Base Building Work. Upon Substantial Completion, the Parties shall execute the Certificate of Substantial Completion attached hereto as Exhibit B-1.
(b) Subject to force majeure as provided in Section 14.6 below, not to exceed thirty (30) days in the aggregate, and any Tenant Delay, if the Lease Commencement Date has not occurred on or before the sixtieth (60th) day following the Estimated Delivery Date, Tenant shall be entitled to a credit of one (1) day of the Annual Fixed Rent and Additional Rent for each day after such date until the Lease Commencement Date, such credit to be applied to Annual Fixed Rent and Additional Rent commencing on the Rent Commencement Date (but applied after any abatement or free rent period) and continuing thereafter until such credit is exhausted.
(c) Subject to force majeure as provided in Section 14.6 below, not to exceed thirty (30) days in the aggregate, and any Tenant Delay, in the event that the Lease Commencement Date has not occurred on or before the one hundred eightieth (180th) day following the Estimated Delivery Date (the “Outside Delivery Date”), Tenant may terminate this Lease by written notice delivered to Landlord within ten (10) business days after the Outside Delivery Date, such termination to be effective as of the date of such notice, whereupon such termination the Parties shall be released and discharged from all further obligations under this Lease, except such obligations that by the terms of this Lease survive termination, including without limitation subsection (d) below.
(d) Notwithstanding a notice of termination given by Tenant pursuant to subsection (c) above, if the Lease Commencement Date occurs within thirty (30) days after Landlord’s receipt of such notice from Tenant, then such notice shall be void ab initio (from the beginning) and have no force or effect whatever and this Lease shall continue uninterrupted.
(e) If the Lease is terminated by Tenant as provided in subsection (c) above, and such termination is not voided pursuant to the provisions of subsection (d) above, then Landlord shall reimburse Tenant for Tenant’s reasonable, documented, out-of-pocket costs and expenses incurred in connection with this Lease within thirty (30) days following Landlord’s receipt of an invoice therefor containing reasonable evidence of such out-of-pocket expenses incurred, provided that such sum to be reimbursed shall not exceed $25,000 in the aggregate, which obligation shall survive the termination of the Lease.
(f) 1.2.1 Notwithstanding anything to the contrary contained hereinherein or in the Lease, in no event addition to the Base, Shell and Core, (i) Landlord shall use a contractor retained by Landlord pursuant to a guaranteed maximum price agreement, perform the work to install a loading dock to service the Premises (the “New Loading Dock”), and (ii) Landlord shall use a contractor retained by Landlord pursuant to a guaranteed maximum price agreement, additionally perform all or any portion of any exterior work to be performed outside of the Premises which relates to the New Loading Dock and which is expressly shown in the Approved Working Drawings (the “Exterior Work,” and together with the New Loading Dock, the “Base Building Improvements”) in substantial accordance with the Approved Working Drawings. Landlord may perform the Base Building Improvements after the actual Delivery Date and concurrently with Tenant performing the Improvements, subject to and in accordance with the Construction Schedule (defined in Section 1.8 below and otherwise subject to extension as a result of Tenant Delays and Uncontrollable Delays as provided herein), and Landlord shall use commercially reasonable efforts to cause the Base Building Improvements to be substantially completed by November 1, 2021 (the “Estimated Base Building Work Completion Date”). If the Base Building Improvements are not substantially complete by the Estimated Base Building Work Completion Date, as such date may be extended by any Tenant Delay (as defined in Section 1.9 below) or by any Uncontrollable Delay (as defined in Section 5.6 below), then as Tenant’s liability to Landlord under this Lease prior sole remedy for such failure, the Pod 5 Portion Commencement Date shall be delayed on a day-for-day basis until the Base Building Improvements are substantially complete.
1.2.2 Notwithstanding anything to the Lease Commencement Date exceed contrary herein or in the Construction Period Maximum LiabilityLease, including any amounts drawn by Landlord’s actual costs and other Improvement Allowance Items related to the construction of the Base Building Improvements up to the amount of the Base Building Allowance shall be deducted from the Base Building Allowance on a monthly progress basis in order to reimburse Landlord upon up to the Letter amount of Credit.the Base Building Allowance in accordance with the procedure set forth in Section 1.2.2.1
Appears in 1 contract
Sources: Lease Agreement (Oncorus, Inc.)