Common use of Lease Property Clause in Contracts

Lease Property. 1.1 The Landlord is the owner of the property located at ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇ Planegg, which is also referred to below as the “Property.” 1.2 The Landlord leases to the Tenant the Property including the building on the Property and the following areas (“Lease Areas”) and car parking spaces (Property, Lease Areas and car parking spaces together also referred to as “Lease Property”), whose locations are detailed on the Site Map and Lease Area plans attached as Appendix 1: (a) Office space (including, entryways, staircase, etc.) approx. 10,395 m² (b) Laboratory areas (S2 standard) approx. 2,200 m² (c) Archive space (basement) approx. 1,523 m² (d) Car parking spaces (underground) 271 spaces (e) Car parking spaces (outside) 12 spaces 1.3 The size of the Lease Property shall be determined after the completion of its conversion in accordance with the area definition attached as Appendix 2 (in accordance with the Directive for the Calculation of Commercial Lease Space of the Association for Real Estate Research) using planimetric CAD measurement from the implementation plans. The staircases and intermediate platforms located within the Lease Property are also part of the Lease Area. The parties undertake to document the result of the measurement – assuming objective accuracy – in a supplement to the Lease Agreement in conformity with the written form clause. Any deviations in the size of the Lease Areas described in Paragraph 1.2 from the actual proportions of the Lease Property that amount up to 3% of the Lease Areas described in Paragraph 1.2 shall not give rise to either a claim by the Landlord or the Tenant for an adjustment in the cost of the net base lease amount or in the prepayment of ancillary costs. In the event of a difference of more than 3%, the net base lease amount and the prepayment of ancillary costs will be adjusted for the full difference at the request of either party. In this case, the parties will record the actual proportions of the Lease Area that were determined as well as the resulting adjustment in the net base lease amount and the advance payment of ancillary costs as part of a proper amendment to the Lease Agreement. Neither the Landlord nor the Tenant may request such an adjustment one year after the Lease Property has been transferred. 1.4 The Landlord undertakes to convert and equip the Lease Property in accordance with the following documents and principles (in the case of contradictions, priority is given to the preceding appendix; if there are any discrepancies between matters in this Lease Agreement and the documents and principles that follow, the Lease Agreement takes precedence): 1. The mutually agreed Tenant building specifications (Appendix 3) 2. The mutually agreed Site Map and mutually agreed Lease Area plans (Appendix 1) 3. The generally accepted rules of technology and the relevant DIN standards at the time of submission of the building application for the conversion The Tenant is aware that a building permit is required for the building project and is still outstanding. The Landlord is required to apply for the building permit within two weeks of concluding the lease. The Landlord is obliged to comply with the construction plans and building regulations when carrying out the building project. 1.5 The Tenant building specifications (Appendix 3), the Site Map and Lease Area plans (Appendix 1) specify the work to be performed by the Landlord or the Tenant and the relevant interfaces to prepare and equip the Lease Property for its intended use. The building application to be submitted by the Landlord must comply with the Tenant building specifications (Appendix 3), the Site Map, as well as the Lease Area plans (Appendix 1). The Landlord has already submitted the building application. For any necessary amendments, the application documents shall be submitted to the Tenant four (4) working days prior to submission. The Tenant is not obliged to check the submitted building application documents. Working days in the context of this Agreement are the days Monday to Friday. 1.6 The Landlord is individually responsible for preparing the planning in consultation with the Tenant according to the following stipulations, provided no specifications/requirements arise from the Tenant building specifications (Appendix 3), the Site Map, the Lease Areas plans (Appendix 1) and the building permit still to be issued. The Landlord is obliged to submit any further development of the Site Map, Lease Area plans (Appendix 1) and the Tenant building specifications (Appendix 3) to the Tenant for approval with a lead time of at least 4 (four) working days. The Tenant will either approve or object to these documents immediately (no later than 4 (four) working days). If no statement is provided by the Tenant within the aforementioned period, the submitted documents are considered to be approved. The objection must be substantiated and in writing and sent by fax or email prior to the deadline. The Tenant’s approval does not imply that the Tenant assumes planning responsibility. The planning responsibility remains with the Landlord. The Tenant may perform an inspection if this is explicitly provided for in the Tenant building specifications. To the extent that there are no further specifications as to the construction of the Lease Property (“gaps”), the Landlord is granted discretion in the construction while taking the interests of the Tenant into consideration (Section 315 German Civil Code [BGB]). The Landlord must maintain the standard of quality of the entire Property in rendering such performance. 1.7 Deviations from the Tenant building specifications (Appendix 3), the Site Map or the Lease Area plans (Appendix 1) intended by the Landlord are possible within the framework of the continuation of the planning, provided that the quality of the construction is not significantly impaired, such deviations are justified based on good cause and if they are reasonable for the Tenant, particularly when these arise from the building permit still to be granted. The Tenant is only obliged to provide consent when the above conditions are met. The Landlord is obliged to submit to the Tenant for approval any deviations from the Tenant building specifications (Appendix 3), the Site Map and Lease Area plans (Appendix 1), including the identification and description of the deviation, with a lead time of at least 4 (four) working days. The Tenant will give this consent or an objection in writing immediately (within no more than 4 (four) working days). If no statement is made by the Tenant within the aforementioned period, then the documents submitted will be considered as approved. The objection must be substantiated and in writing and be sent by fax or email prior to the deadline. The Tenant’s approval does not imply that the Tenant assumes planning responsibility. The planning responsibility remains with the Landlord. Should changes be required based on the building permit or as a result of further developments in the current state of planning, or should there be a need for mandatory or otherwise unavoidable structural changes, then the following would apply: In the event of significant changes, the Tenant has the right to withdraw from this Lease Agreement. Significant changes are defined as those that significantly limit the contractedly intended use of the Lease Property. A limitation is significant if the area of the office and/or laboratory space is reduced by at least 10%, the intended laboratory operation is thwarted or significantly limited or leads to significantly higher operating costs. The Landlord will notify the Tenant in writing about the receipt of the building permit. The right of withdrawal must be exercised no later than 4 (four) weeks after the forwarding of the building permit. If the changes are not significant, the Tenant cannot claim any rights based on these circumstances. 1.8 Any changes in the Tenant building specifications or arising from the building permit to be issued or other related amendments, including other changes to the Landlord’s building obligation arising from any additional building permits must be recorded in the form of a written addendum to which both parties mutually agree.