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 commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 5 contracts
Sources: Office Lease (ViewRay, Inc.), Office Lease (ViewRay, Inc.), Office Lease (ViewRay, Inc.)
Lease Term. The terms and provisions of this Lease Term shall be effective as of mean the date of this Lease. The term of this Lease (the “Lease Term”) shall commence period beginning on the “Lease above referenced Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate ending on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive Termination Date (an approximately twelve (12) month period term). Landlord shall exercise a good faith effort with respect to delivering possession of the Residence to Tenant on the Commencement Date. In the event Landlord does not deliver possession of the Residence to Tenant on the Commencement Date, but Landlord does deliver possession within (45) days after the Commencement Date, then Rent shall be abated on a daily basis during the Lease Termperiod of delay. At Landlord shall not be liable to Tenant for any time during the Lease Term, losses or damages related to such failure to timely deliver possession. If Landlord may cannot deliver to Tenant a the Residence by the first day of the Lease Term because another resident holds over, or for any other reason, Landlord shall not be liable to Tenant or Tenant’s Guarantor for damages, but Tenant will not be required to pay any Rent until the Residence is available. If Landlord is not able to deliver possession to Tenant within forty five (45) calendar days following the Commencement Date, Tenant may, as its sole remedy, cancel the Lease by written notice to Landlord, in which case Tenant’s security deposit will be refunded and Tenant shall have no further liability hereunder. It is expressly understood that this Lease is for the Lease Term regardless of whether Tenant takes occupancy, is transferred, ceases to be enrolled at any school in the form as set forth in Exhibit Carea, attached hereto, as is no longer a confirmation only resident of the information set forth thereinarea or, which Tenant shall execute and return for any other reason, is unable to Landlord within ten (10) business days of receipt thereof; provided, howevercontinue occupying the Residence. Accordingly, Tenant’s failure obligation to execute pay Rent hereunder (and return such notice the Guarantor(s) obligation to ensure payment of the same) shall continue for the entire Lease Term and until all sums due to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfull.
Appears in 4 contracts
Sources: Rental Agreement, Rental Agreement, Rental Agreement
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 five (105) business days of receipt thereof; provided, however, 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. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January December 1, 2016, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) April 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide of industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that such delay shall not extend any such date by more than ninety (90) days).
Appears in 3 contracts
Sources: Lease Agreement, Lease (Denali Therapeutics Inc.), Lease (Denali Therapeutics Inc.)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 five (105) business days of receipt thereof; provided, however, 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. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January July 1, 2016, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each two (2) days that the delivery date is delayed beyond such date, 2015 (2) on or before August 1, 2016, then, as Tenant’s sole remedy for such delay (in addition to the “Base Rent Delivery Date”delay in subpart (1)), the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one additional day for each day that the delivery date is delayed beyond such date, or (3) October 1, 2016, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate extended to the extent of any delays in delivery of possession caused by war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord. Landlord shall allow Tenant access to the Premises prior to the Lease Commencement Date for the purpose of Tenant installing equipment, furniture or fixtures (including Tenant’s data and telephone equipment) in the Premises and any other purpose necessary to ready the Premises for Tenant’s occupancy (but not for conducting business) without payment of Rent. Prior to Tenant’s entry into the Premises, Tenant shall submit a schedule to Landlord for approval, which schedule shall detail the timing and purpose of Tenant’s entry. Tenant shall hold Landlord harmless from and in addition indemnify, protect and defend Landlord against any loss or damage to the Building or Premises and against injury to any Rent Abatement described in persons caused by Tenant’s actions pursuant to this Section 3.2 below2.1.
Appears in 3 contracts
Sources: Lease (Biotech Acquisition Co), Sublease (Twist Bioscience Corp), Sublease (Twist Bioscience Corp)
Lease Term. The terms reins 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”") shell be as set forth In Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the .the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the “Base Rent Delivery Date”Summary), Landlord shall not be subject to any liability nor shell the validity of this Lease nor the obligations of Tenant shall hereunder be entitled to one (1affected. 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) day of per diem Base Rent abatement for each day commencing on the day Summary, within a reasonable period of time after the Base Rent Delivery Date and ending on the date Landlord so tenders Tenant takes possession of the Premises Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, seeing forth, among other things, the Lease Commencement Date and the Lease Expiration Date, and Tenant shall execute and return such amendment to Landlord within five (5) days after Tenant's receipt thereof. In the event that Landlord does not deliver such amendment to Tenant. Any such Base Rent Abatement , the Lease Commencement Date shall be separate from and in addition deemed to any Rent Abatement described be the anticipated Lease Commencement Date set forth in Section 3.2 below7.2(ii) of the Summary.
Appears in 3 contracts
Sources: Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc)
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”) Term shall commence on the date (the “Lease Commencement Date,” as that term ”) which is the Anticipated Commencement Date set forth in Section 3.2 of the Summary (or on such earlier date provided for in the Summary), and provided Landlord shall terminate on have Substantially Completed (as such term is defined in the Work Letter attached as Exhibit C (the “Lease Expiration Date,” Work Letter”)) the Tenant Improvements (as that term is set forth defined in Section 3.3 the Work Letter) as of such date, subject to adjustment to the Summary, unless this Lease is sooner terminated Anticipated Commencement Date for any Tenant Delays (as hereinafter provided. Tenant hereby acknowledges that defined in the Premises are currently occupied by another tenant of the BuildingWork Letter). If Landlord is unable has not Substantially Completed the Tenant Improvements on or prior to the Anticipated Commencement Date, for any reason other than Tenant Delays, the Lease Commencement Date shall be the date upon which Substantial Completion of the Tenant Improvements occurs. Notwithstanding anything to the contrary contained herein, Tenant’s sole and exclusive remedy for any failure of Landlord to deliver possession of the Premises to Tenant on any specific or prior to the Anticipated Commencement Date with the Tenant Improvements Substantially Completed shall be as follows: (i) if the Lease Commencement Date has not occurred within forty-five (45) days after the Anticipated Commencement Date (as such date may be extended by Tenant Delays or Force Majeure Delays) (the “Deadline”), then Tenant shall be entitled to one (1) additional day of free Base Rent and Additional Rent for each day after the Deadline until Landlord delivers the Premises to Tenant with the Tenant Improvements Substantially Complete; and (ii) if the Lease Commencement Date has not occurred within ninety (90) days after the Anticipated Commencement Date (as such date may be extended by Tenant Delays or Force Majeure Delays), then Tenant, at its option, may at any time thereafter elect to terminate this Lease without payment or penalty by giving written notice to Landlord of such election (a “Termination Election Notice”), and in such case, this Lease shall terminate and shall be of no further force and effect on the date that is ten (10) days after the date such Termination Election Notice has been given to Landlord, unless prior to the effective date of such termination Landlord delivers the Premises to Tenant with the Tenant Improvement Substantially Completed, in which case this Lease shall not be subject to any liability for its failure to do so, terminate and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Termremain in full force and effect. At any time during following the Lease TermCommencement Date, Landlord may deliver to Tenant a notice Memorandum of Commencement of Lease Term substantially in the form attached hereto as set forth in Exhibit C, attached hereto, B as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten three (103) business days of Business Days after receipt thereof; provided, however, Tenantprovided either party’s failure to execute and return such notice request execution of, or to Landlord within such time execute, the Commencement Date Memorandum shall be conclusive upon Tenant that not in any way modify or extend the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Lease Commencement Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 3 contracts
Sources: Triple Net Lease (GOOD TECHNOLOGY Corp), Triple Net Lease (GOOD TECHNOLOGY Corp), Triple Net Lease (GOOD TECHNOLOGY Corp)
Lease Term. The terms and provisions basic term of this Lease with respect to each Property (the “Basic Term”) shall be effective as begin upon the Property Closing Date for such Property (in each case the “Basic Term Commencement Date”) and shall end on the fifth annual anniversary of the date Initial Closing Date (the “Basic Term Expiration Date”), unless the Basic Term is earlier terminated or the term of this Lease is renewed (as described below) in accordance with the provisions of this Lease. The Notwithstanding the foregoing, Lessee shall not be obligated to pay Basic Rent until the Rent Commencement Date with respect to such Property. To the extent no Default or Event of Default has occurred and is continuing, Lessee may request (by written notice to the Agent, who shall give notice to each Financing Party delivered in each case at least one hundred twenty (120) days prior to the end of the then current term) the extension of the term of this Lease (for all, but not less than all, the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises Properties which are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability the Operative Agreements for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day or two (2) additional terms each of per diem Base Rent abatement one (1) year’s duration from the Basic Term Expiration Date (each, a “Renewal Term”); provided, no such Renewal Term shall be permitted unless expressly agreed to, at the written request of Lessee, in writing by each Lender and each Holder in each such entity’s sole discretion; provided, further, that the expiration date for the final Renewal Term for each day commencing on Property shall not be later than the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession seventh anniversary of the Premises Initial Closing Date, unless such later expiration date has been expressly agreed to, at the written request of Lessee, in writing by each Lender and each Holder in each such entity’s sole discretion. The failure by any Lender or Holder to Tenant. Any respond to any request from Lessee for any Renewal Term within thirty (30) days after receipt of such Base Rent Abatement requests shall be separate deemed a negative response to such request. Pursuant to Section 10.3 of the Participation Agreement, Lessee shall have the option to replace any Lender or any Holder that does not expressly consent within thirty (30) days of a receipt of a request from and Lessee for any Renewal Term in addition to any Rent Abatement described in accordance with the provisions of this Section 3.2 below2.2.
Appears in 2 contracts
Sources: Lease Agreement (Sabre Holdings Corp), Lease Agreement (Sabre Holdings Corp)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the day immediately preceding the first (1st) anniversary of the Lease Commencement Date), and further provided that the last 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, howeverprovided that if such notice is not factually correct, Tenant’s failure then Tenant shall make such changes as are necessary to execute make such notice factually correct and shall thereafter 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 said ten (the “Base Rent Delivery Date”), Tenant shall be entitled to one (110) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowperiod.
Appears in 2 contracts
Sources: Lease Agreement (BioAtla, Inc.), Lease (BioAtla, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective Subject to any Tenant Delay (as of defined on Exhibit “F”) the date of this Lease. The term of this Lease lease (the “Lease Term”) shall commence on the date of Substantial Completion of Landlord’s Work (as defined on Exhibit “Lease Commencement Date,” as that term is set forth in Section 3.2 F”) and Landlord’s delivery of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant in “broom clean” condition, free of all occupants (the “Lease Commencement Date”) and expire on any specific date the last day of the full sixtieth (60th) month thereafter (the “Expiration Date”). If the Lease Term commences on a day other than the first day of a month, then Landlord the first year of the Lease Term shall not be expire on the last day of the full twelve (12th) calendar month following the Lease Commencement Date. Notwithstanding the foregoing, and subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes execution of this Lease, Tenant shall have access to the term “Lease Year” shall mean each consecutive twelve Premises for thirty (1230) month period during days prior to the date on which the Lease Term. At any time during Commencement Date is expected to occur solely for the purposes of installing its telecommunications equipment and wiring, furniture and fixtures (the “Tenant’s Early Access Work”) and provided that Tenant complies with all terms and conditions of the Lease, including but not limited to its insurance and indemnification obligations set forth in the Lease Termbut Tenant shall have no obligation to pay Rent during such period of access. Notwithstanding the foregoing, in the event of any conflict between the performance of Landlord’s Work and Tenant’s Early Access Work, Landlord’s Work shall have priority. Upon the Lease Commencement Date, Landlord may deliver to and Tenant shall execute a notice Lease Commencement Date Certificate in the form attached hereto as set forth in Exhibit “C”. If Tenant fails to object to, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall or execute and return to Landlord return, the Lease Commencement Date Certificate within ten (10) business days Business Days of receipt thereof; provideddelivery from Landlord, however, Tenant’s failure to execute and return the terms set forth on such notice to Landlord within such time Commencement Date Certificate shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition deemed to the foregoing, subject be agreed to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Sources: Lease Agreement (Spero Therapeutics, Inc.), Lease Agreement (Spero Therapeutics, Inc.)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date (or, if applicable, the last day of the Option 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Sources: Lease (Synthorx, Inc.), Lease (Synthorx, Inc.)
Lease Term. The terms (a) This Lease shall become effective upon its delivery, and subject to earlier termination pursuant to the provisions of this Lease, shall have an Initial Term terminating on the last day of the Lessee’s current Fiscal Year.
(b) The Lease Term may be extended, solely at the option of the Lessee, at the end of the Initial Term or any Renewal Term for an additional Renewal Term up to the Maximum Lease Term.
(c) At the end of the Initial Term and at the end of each Renewal Term, the Lessee shall be deemed to have exercised its option to continue this Lease for the next Renewal Term, unless the Lessee delivers written notice to the Lessor no later than March 31 of each year stating the Lessee’s intention to not extend the Lease Term. The Lessee’s option to renew or not to renew this Lease shall be effective as conclusively determined by whether or not the City Council of the date Lessee has, on or before the March 31 immediately preceding the end of the Initial Term or any Renewal Term then in effect, budgeted and appropriated, specifically with respect to this Lease, moneys sufficient to pay all the Rental Payments and reasonably estimated Additional Payments for the ensuing Renewal Term. The City Administrator of the Lessee (or any other officer at any time charged with the responsibility of preparing budget proposals) is hereby directed to include in the budget proposal submitted to the City Council, in any year in which this Lease shall be in effect, items for all payments required for the next ensuing Renewal Term under this Lease; it being the intention of the City Council that the decision to renew or not to renew this Lease shall be made solely by the City Council and not by any other official of the Lessee. The Lessee shall in any event, whether or not this Lease is to be renewed, furnish to the Lessor and the Purchaser copies of its annual budget promptly after the budget is adopted, but in any case no later than 30 days later than the end of each Fiscal Year.
(d) The Lessee’s option to renew or not to renew this Lease may not be exercised at any time during which an Event of Default has occurred and is then continuing under any of the terms of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, however, Tenant’s failure that if such Event of Default (money payments excepted) is of such nature that the same is curable but not within the period allowed for curing such Event of Default, then the right of the Lessee to execute and return such notice to Landlord exercise the option hereby granted shall not be suspended if the Lessee shall have promptly commenced within such time period to comply with the provisions of this Lease which shall have been breached by it and if so long as the Lessee shall, with diligence and continuity, proceed to cure such Event of Default.
(e) The Lessee intends, subject to the provisions above respecting the failure of the Lessee to budget or appropriate funds to make Rental Payments and Additional Payments, to continue this Lease Term and to pay the Rental Payments and Additional Payments under this Lease. The Lessee reasonably believes that legally available funds in an amount sufficient to make all Rental Payments and Additional Payments during the Initial Term and each Renewal Term can be obtained. The Lessee further intends to do all things lawfully within its power to obtain and maintain funds from which the Rental Payments and Additional Payments may be made, including making provision for such Rental Payments and Additional Payments to the extent necessary in each proposed annual budget submitted for approval in accordance with applicable procedures of the Lessee and to exhaust all available reviews and appeals in the event such portion of the budget is not approved. Notwithstanding the foregoing, the decision to budget and appropriate funds or to continue the Lease Term is to be made in accordance with the Lessee’s normal procedures for such decisions.
(f) The terms and conditions during any Renewal Term shall be conclusive upon Tenant the same as the terms and conditions during the Initial Term, except that the information Rental Payments and the Option Purchase Price shall be as provided in the schedules set forth in Schedule 4 to this Lease, as such notice is schedules may be revised as specified therein. In addition to provided in the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowIndenture.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 five (105) business days of receipt thereof; provided, however, 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. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before September 1, 2018, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2019, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Sources: Lease (Pliant Therapeutics, Inc.), Lease (Pliant Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The lease term of this Lease (the “Lease Term”) shall commence on upon the earlier to occur of either (a) the satisfaction of the following listed conditions: (i) the completion of Landlord’s Work (as hereinafter defined), (ii) the completion of Tenant’s Work (as hereinafter defined), and (iii) the issuance of a Certificate of Occupancy by the City of Waltham; or (b) the Rent Commencement Date (as defined in Section 3.1 below) (the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ”) and shall terminate on continue for a period of ten (10) years and nine (9) months after the Rent Commencement Date unless extended or terminated as provided in this Lease (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided”). Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date shall, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 Business Days of receipt thereof; provided, howeverexecute a Commencement Date Certificate substantially similar to the form attached hereto as Exhibit “E” confirming the Lease Commencement Date, Tenant’s failure to execute the Rent Commencement Date 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 thereinExpiration Date. In addition to Notwithstanding the foregoing, subject if and to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession the extent the occurrence of the Premises Lease Commencement Date is delayed beyond December 31, 2006 due to Tenant on or before January 2, 2015 a Landlord Delay (the “Base Rent Delivery Date”as defined in Section 10.1 (d)) of which Landlord has received Landlord Delay Notice (as defined in Section 10.1 (d)), Tenant then the Rent Commencement Date shall be entitled to extended two (2) days for every one (1) day due to such Landlord Delay; and all other dates and time periods for increases in rental rates through the Lease Term, as set forth on Exhibit “C” attached hereto and made a part hereof, shall be extended for an equal number of per diem Base Rent abatement for each day commencing on days. In addition, if and to the day after extent the Base Rent Delivery Date and ending on the date Landlord so tenders possession occurrence of the Premises Lease Commencement Date is delayed beyond February 28, 2007 due substantially and primarily to Tenanta Landlord Delay of which Landlord has received Landlord Delay Notice, Tenant shall have the option to terminate this Lease effective immediately upon written notice to Landlord. Any such Base Rent Abatement If Tenant elects to terminate this Lease, then this Lease shall be separate from null and in addition void and of no further force or effect, except Landlord agrees to immediately return to Tenant any Rent Abatement described in Section 3.2 belowpre-paid rent and/or Security Deposit.
Appears in 2 contracts
Sources: Lease Agreement (Histogenics Corp), Lease Agreement (Histogenics Corp)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the SummarySummary (as may be extended pursuant to Section 2.2 below, the “Lease Expiration Date”) unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date (or, if applicable, the last day of the Option 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 either execute and return return, or provide corrections to any factual errors therein, to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s that the failure of the parties to execute and return such notice to Landlord within such time letter shall be conclusive upon Tenant that not defer the information set forth in such notice is as specified thereinLease Commencement Date or otherwise invalidate this Lease. In addition Notwithstanding anything to the foregoingcontrary in this Lease, subject it is a condition precedent to any delays caused by the effectiveness of this Lease that Landlord and Tenant or any Tenant Parties and events of Force Majeureenter into a commercially reasonable termination agreement terminating, if Landlord fails to tender possession as of the Premises to Lease Commencement Date hereof, that certain existing lease between Landlord and Tenant on or before January 2for the premises located at ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, 2015 (the “Base Rent Delivery Date”)▇▇▇ ▇▇▇▇▇, Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below▇▇▇▇▇▇▇▇▇▇.
Appears in 2 contracts
Sources: Lease (Decipher Biosciences, Inc.), Lease (Decipher Biosciences, Inc.)
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 commence on the “Lease Commencement Date,” applicable to the Initial Premises as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. provided (provided that, for clarification purposes, Landlord and Tenant hereby acknowledges acknowledge and agree that the Tenant’s Base Rent obligations with regard to Must-Take Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the 1 and Must-Take Premises to Tenant on any specific date , then Landlord 2 shall not be subject commence until the Lease Commencement Date applicable to any liability for its failure Must-Take Premises 1 and the Lease Commencement Date applicable to do soMust-Take Premises 2, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunderrespectively). For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term, provided that the last 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 heretohereto (the “Notice of Lease Term Dates”), as a confirmation only of the information set forth therein, which Tenant ▇▇▇▇▇▇ shall execute and return to Landlord within ten fifteen (1015) business days of receipt thereof; providedthereof (provided that if the Notice of Lease Term Dates is not factually correct, however, Tenant’s failure then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such time fifteen (15) business day period). Such modified Notice of Lease Term Dates shall not be conclusive binding unless Landlord countersigns the notice with Tenant’s changes. If Landlord does not so countersign the notice, Landlord and Tenant shall work together in good faith to agree upon and mutually execute an acceptable notice. Landlord and Tenant hereby acknowledge and agree that the information set forth a Notice of Lease Term Dates may be delivered in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession connection with each of the Initial Premises, Must-Take Premises to Tenant on or before January 1 and Must-Take Premises 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Sources: Office Lease (ServiceTitan, Inc.), Office Lease (ServiceTitan, Inc.)
Lease Term. (a) The terms and provisions initial term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (the “Lease 10) years ("Term”") and ---- shall commence on the “Lease date hereof ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate at ----------------- 5:00 P.M. local time on the “Lease tenth (10th) anniversary of the Commencement Date (the "Expiration Date,” as "). ---------------
(b) Provided that term Tenant is set forth not in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes default of this Lease, Tenant shall have the option to renew this Lease for three (3) renewal terms of five (5) years each commencing upon the expiration of the initial ten (10) year Term or any previous renewal term, as the case may be, and ending at 5:00 P.M. local time five (5) years thereafter, unless any such renewal term “shall sooner terminate in accordance with this Lease Year” or otherwise; provided that (i) Tenant shall mean each consecutive twelve have notified Landlord in writing of Tenant's exercise of such renewal option not later than six (126) month months prior to the expiration of the initial Term hereof or the then existing renewal term, as the case may be, (ii) at the time such notice is given, this Lease shall be in full force and effect and Tenant shall not be in default hereunder for such period of time as would entitle Landlord to terminate this Lease pursuant to the terms hereof. Such renewal terms shall be upon all of the agreements, terms, covenants and conditions hereof except that Tenant shall pay Base Rent (hereinafter defined) to Landlord in monthly installments in an amount equal to the greater of (i) the fair market rate (the "Fair Market Rent") for ---------------- the Real Property (as defined herein) or (ii) one hundred and ten percent (110%) of the existing Base Rent on an "AS IS, WHERE IS" basis as of the commencement of the renewal term, as designated by Landlord within twenty (20) days after Landlord receives Tenant's renewal notice, but in no event greater than the rate of Base Rent in effect at the scheduled expiration of the Term or the applicable renewal term plus twenty-five percent (25%) thereof. In addition, during the Lease Termrenewal term, Tenant shall pay all other rent and other amounts due under the Lease. At any time during If Tenant does not approve of Landlord's designation of the Lease TermBase Rent for the renewal term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretothen Tenant, as a confirmation only of the information set forth thereinits sole remedy, which Tenant shall execute and return may submit in writing to Landlord within ten (10) business days after the Landlord's delivery of receipt thereof; providedits determination Fair Market Rent to Tenant (the "Renewal Commencement Date"), howeverits good faith ------------------------- determination of Fair Market Rent with appropriate back-up documentation. If the Tenant's determination of Fair Market Rent is within ten percent (10%) of the Landlord's determination of the same, the "Fair Market Rent" shall equal the ---------------- median number between each of the Tenant’s failure 's and Landlord's determination (but in no event shall the Fair Market Rent be less than the Base Rent existing on the last day of the Term plus ten percent (10%)). If the Tenant's determination of Fair Market Rent is not within ten percent (10%) of the Landlord's determination --- of the same, each of the Landlord and the Tenant shall choose an appraiser on the eleventh (11th) day after the Renewal Commencement Date to execute determine the "fair market rent" and return such notice to Landlord within such time the initial determinations shall be conclusive upon Tenant that disregarded for all purposes in determining the information set forth in such notice is as specified thereinFair Market Rent. In addition Each appraiser shall diligently attempt to agree on the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant Fair Market Rent on or before January 2, 2015 the twenty-fourth (the “Base Rent Delivery Date”), Tenant shall be entitled to one (124th) day of per diem Base Rent abatement for each day commencing on the day after the Renewal Commencement Date. If such appraisers agree on the Fair Market Rent on or before the twenty-fourth day after the Renewal Commencement Date, such agreed sum shall constitute the "Fair Market Rent". If the appraisers have not agreed on the Fair Market Rent by such day, (a) the appraisers shall select an independent third appraiser (the "Final Appraiser"), --------------- and (b) each such original appraiser shall deliver in writing to the Final Appraiser their last determination of the sum (each such sum being hereinafter referred to as the "Appraisal Price") that such appraiser believes is the Fair --------------- Market Rent. On or before the twenty-ninth (29th) day after the Renewal Commencement Date, the Final Appraiser shall choose one Appraisal Price or the other Appraisal Price as the "Fair Market Rent". Notwithstanding anything to ---------------- the contrary herein, in no event shall the Fair Market Rent be less than the Base Rent Delivery Date and ending on in effect at the date Landlord so tenders possession last day of the Premises to TenantTerm plus ten percent (10%) thereof. Any Tenant shall have no further renewal rights after the expiration of such Base Rent Abatement renewal terms. Upon the commencement of each renewal term, (x) the renewal term shall be separate from added to and become part of the Term, (y) any reference in addition this Lease, to the "Term", the "term of this Lease" or any Rent Abatement described in Section 3.2 belowsimilar expression shall ---- be deemed to include the renewal terms, and (z) the Expiration Date shall become the expiration of the applicable renewal term.
Appears in 2 contracts
Sources: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc), Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 five (105) business days of receipt thereof; provided, however, 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. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before October 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2018, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Sources: Lease (Annexon, Inc.), Lease (Annexon, Inc.)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 five (105) business days of receipt thereof; provided. Landlord shall endeavor to provide access to the Premises following vacation of the Premises by the existing Tenant, howeverwhich Landlord anticipates will be March 1, Tenant’s failure 2020. Notwithstanding that such delivery shall occur prior to execute and return such notice the Lease Commencement date, Landlord hereby acknowledges that Tenant shall not be obligated to Landlord within such time shall be conclusive upon Tenant that commence paying Rent under this Lease until the information set forth in such notice is as specified thereinLease Commencement Date. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders has not delivered possession of the Premises to Tenant. Any , (1) on or May 1, 2020, then, as Tenant's sole remedy for such Base Rent Abatement delay, the date Tenant is otherwise obligated to commence payment of shall be separate from and delayed by one day for each day that the delivery date is delayed beyond May 1, 2020, or (2) August 1, 2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be reimbursed to Tenant. The foregoing dates shall be extended to the extent of any delays in addition delivery of possession caused by war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any Rent Abatement described in Section 3.2 belowaction or inaction of Landlord (provided that any such delay shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease YearMonth” shall mean each consecutive twelve (12) month monthly period during the Lease Term; provided that the first (1st) Lease Month of the Lease Term shall commence on the Lease Commencement Date and end on the last day of the first (1st) full calendar month of the Lease Term, and the last Lease Month shall end on the Lease Expiration Date; and provided further that, if applicable, the first (1st) Lease Month of the Option Term shall commence on the first (1st) day of the Option Term and end on the last day of the first (1st) full calendar month of the Option Term, and the last Lease Month of the Option Term shall end on the last day of the Option 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 five (105) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Sources: Lease (Sorrento Therapeutics, Inc.), Lease Agreement (Sorrento Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease Term shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth described in Section 3.2 of the Summary, and 1. Resident shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that not enter the Premises are currently occupied by another tenant of until the BuildingLease Term begins. If Landlord is unable for Resident shall not place any reason to deliver possession of property in the Premises prior to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity beginning of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At If Resident places any time during property in the Premises prior to the beginning of the Lease Term, Resident shall immediately remove such property upon notice from Landlord may deliver and shall additionally be charged a fine of a minimum of Fifty Dollars ($50) payable to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only Landlord.
A. No Automatic Renewal - Upon expiration of the information set forth thereinLease Term, which Tenant this Lease Agreement shall execute and return not automatically renew, nor shall it convert to a month-to-month basis, or any other extended form of this Lease Agreement, except as provided herein. If Resident wishes to continue to occupy the Premises after the expiration of the Lease Term, Resident must enter into a separate Lease Agreement with Landlord within ten (10) business days for a succeeding period. This Lease Agreement shall not guaranty Resident the right to lease the Premises for any period succeeding the Lease Term, therefore Resident is encouraged to notify Landlord as soon as possible of receipt thereof; provided, however, Tenant’s failure any desire to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that enter into a Lease Agreement for the information set forth in such notice is as specified therein. In addition Premises for any period subsequent to the foregoing, subject Lease Term. Landlord reserves the right to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of lease the Premises to Tenant on or before January 2another party for a period succeeding the Lease Term, 2015 without notice to Resident, any time prior to receipt of notice of any such desire and execution of a Lease Agreement for any succeeding term.
B. VOLUNTARY SURRENDER OF POSSESSION OF PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM SHALL NOT AUTOMATICALLY TERMINATE LEASE AGREEMENT – THE VOLUNTARY SURRENDER OF POSSESSION OF THE PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM SHALL NOT AUTOMATICALLY TERMINATE THIS LEASE AGREEMENT. LANDLORD MAY, AT ITS SOLE DISCRETION, DEEM THE VOLUNTARY SURRENDER OF POSSESSION OF THE PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM A TERMINATION OF THIS LEASE AGREEMENT UPON WRITTEN NOTICE OF SUCH BY LANDLORD TO RESIDENT.
C. Extension of Lease Term - If Resident enters into a Lease Agreement with Landlord for the Premises, the term of which begins no more than thirty (the “Base Rent Delivery Date”), Tenant shall be entitled to one (130) day of per diem Base Rent abatement for each day commencing on the day days after the Base Rent Delivery Date and ending on the date Landlord so tenders possession end of the Premises to Tenant. Any such Base Rent Abatement Lease Term of this Lease Agreement, then the Lease Term of this Lease Agreement shall be separate from extend until the beginning of the Lease Term of the subsequent Lease Agreement and in addition to any Rent Abatement described in Section 3.2 belowall terms and conditions of this Lease Agreement shall extend accordingly.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date Effective Date except for the provisions of this LeaseLease relating to the payment of Rent (as defined in Section 3.1 below). The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary (subject, however, to the terms of the Tenant Work Letter) and shall commence on the applicable Lease Commencement date set forth in Section 7 of the Summary with respect to the applicable portion of the Premises. For purposes of this Lease, the term “Lease Commencement Date,” shall have the same meaning as that the term is set forth in Section 3.2 of the Summary, and “Phase One Premises Lease Commencement Date”. The Lease Term shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and the last Lease Year shall end on the Lease Expiration Date. If Landlord does not deliver possession of the applicable portion of the Premises to Tenant on or before the applicable anticipated Phase One Premises Lease Commencement Date and/or Phase Two Premises Lease Commencement Date (as set forth in Section 7.3 of the Summary), then Tenant shall be entitled to receive an abatement of Base Rent, and Tenant’s Share of Direct Expenses equal to one (1) day for every one (1) day of delay beyond the Phase One Premises Lease Commencement Date or Phase Two Premises Lease Commencement Date, as applicable, provided that the delay is not caused by Force Majeure events or any delays caused by Tenant. In the event Landlord does not deliver possession of the applicable portion of the Premises to Tenant on or before that date which is sixty (60) days after the anticipated Phase One Premises Lease Commencement Date and/or the applicable anticipated Phase Two Premises Lease Commencement Date, then Tenant (in lieu of the day for day abatement provided above), shall be entitled to receive an abatement of Base Rent and Tenant’s Share of Direct Expenses equal to two (2) days for every one (1) day beyond such sixty (60) day period in Landlord’s delivery of the applicable portion of the Premises to Tenant (subject to extension due to Tenant Delays and Force Majeure delays). At any time during the Lease Term, Landlord may deliver to Tenant a notice an amendment to this Lease confirming the applicable Lease Commencement Date and Lease Expiration Date, 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. In the event that Landlord does not deliver such amendment to Tenant, however, Tenant’s failure the Phase One Premises Lease Commencement Date and the Phase Two Premises Lease Commencement Date shall be deemed to be the anticipated Phase One Premises Lease Commencement Date and the Phase Two Premises Lease Commencement Date set forth in Section 7.3 of the Summary. Failure of Tenant to execute and return deliver such notice to Landlord within such time amendment shall be conclusive upon constitute an acceptance of the Premises by Tenant that as of the information date set forth in the amendment signed by Landlord and such notice is as specified therein. In addition to date shall, for all purposes of this Lease, be the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Phase One Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Lease Commencement Date and ending on the date Landlord so tenders possession of the Phase Two Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLease Commencement Date (as applicable).
Appears in 2 contracts
Sources: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, Inc.)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 five (105) business days of receipt thereof; provided, however, 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. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January July 1, 2015, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each two (2) days that the delivery date is delayed beyond such date, 2015 (2) on or before August 1, 2015, then, as Tenant’s sole remedy for such delay (in addition to the “Base Rent Delivery Date”delay in subpart (1)), the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one additional day for each day that the delivery date is delayed beyond such date, or (3) October 1, 2015, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industrywide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord.
Appears in 2 contracts
Sources: Lease (RAPT Therapeutics, Inc.), Lease (RAPT Therapeutics, Inc.)
Lease Term. The Subject to the terms and provisions of this Lease shall be effective as of the date of conditions set forth in this Lease, Landlord agrees to lease to Tenant and Tenant agrees to hire from Landlord, the Demised Premises. The term of this Lease (the “Lease Term”) shall commence on the date hereof (the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary”) and, and shall terminate on the date that is three (3) weeks after the Closing Date (as defined in Order Pursuant to 11 U.S.C. §§ 105(a) and 365 and Fed. R. Bankrp. P. 9019, The Plan and Confirmation Order (I) Approving Settlement, (II) Authorizing Assumption and Assignment of Unexpired Lease of Non-Residential Real Property Located at One Syms Way, Secaucus, New Jersey and (III) Granting Related Relief) (the “Fixed Termination Date”), or upon such earlier date upon which the Term of this Lease Expiration Date,” as that term is set forth in Section 3.3 shall expire, be canceled or be terminated pursuant to any of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity conditions or covenants of this Lease or pursuant to law (the date upon which this Lease actually terminates pursuant to the terms hereof, being hereinafter referred to as the “Termination Date”). Subject to the terms and conditions set forth herein, Tenant shall have the right to surrender the Demised Premises to Landlord prior to the Fixed Termination Date by providing Landlord with notice (“Termination Notice”) thereof not less than five (5) Business Days (as hereinafter defined) prior to the date that Tenant actually surrenders the Demised Premises to Landlord. The Termination Notice shall designate the Termination Date, which date shall in no event be later than the Fixed Termination Date, and upon such designated Termination Date, Tenant shall vacate and surrender the Demised Premises in accordance with the terms hereof and all of the parties rights and obligations of Tenant hereunderhereunder shall terminate, except for those rights and obligations which expressly survive termination hereof. For purposes of As used in this Lease, Lease the term “Lease YearBusiness Day” shall mean each consecutive twelve (12) month period during all days except Saturdays, Sundays and days observed by the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form federal or New Jersey state government 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowlegal holidays when government offices are closed.
Appears in 2 contracts
Sources: Assignment of Ground Lease, General Assignment and Bill of Sale, Assignment of Ground Lease, General Assignment and Bill of Sale (Trinity Place Holdings Inc.)
Lease Term. The terms and provisions of this (a) This Lease shall be effective as continue in force during a period beginning on Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated or extended to a later date under any other term or provision hereof.
(b) If by the date specified as hereinafter provided. the Commencement Date in Paragraph 1(d), the Premises have not been substantially completed pursuant to the Work Letter due to omission, delay or default by Tenant hereby acknowledges that or anyone acting under or for Tenant or due to any cause other than Landlord's default, Landlord shall have no liability for such failure to complete, and the obligations of this Lease (including without limitation the obligation to pay rent) shall nonetheless commence as of said Commencement Date.
(c) If however the Premises are currently occupied not substantially completed by another tenant the date specified as the Commencement Date in Paragraph l(d) and such failure to complete is due to default on the part of Landlord, then, as Tenant's sole remedy for the delay in Tenant's occupancy of the Building. If Premises, the Commencement Date shall be delayed (and the rent herein provided shall not commence) until the earlier of either (i) the date of actual occupancy by Tenant or (ii) the date of substantial completion of the work which Landlord is unable for any reason has agreed to deliver perform.
(d) Tenant agrees to accept possession of the Premises when the Building Standard Improvements to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 Premises as provided in the form as set forth in Exhibit CWork Letter have been substantially completed. If there are any finishing touches remaining to be done which will not materially interfere with the conduct of Tenant's business on the Premises, 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession will nevertheless accept delivery of the Premises and allow Landlord to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any complete such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfinishing touches.
Appears in 2 contracts
Sources: Office Lease Agreement, Office Lease Agreement (Zix Corp)
Lease Term. The terms and provisions of this initial Lease Term shall be effective begin as of the date of Lease Commencement Date and shall continue until fifteen (15) years after the Lease Commencement Date unless sooner terminated or renewed as provided in this Lease. The term Landlord and Tenant shall execute a written acknowledgment of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” Date and the termination date in substantially the form attached hereto as that term is set forth in Section 3.2 of the SummaryExhibit “C”; however, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, execute and deliver such failure acknowledgment shall not affect the validity of this Lease or the obligations of Tenant Tenant’s liability hereunder. For purposes Provided that no Default has occurred and is continuing at the time Tenant elects to extend the Lease Term, Tenant, at its sole option, may extend the Lease Term for two (2) additional periods of ten (10) years each (individually, an “Extension Period”), subject to all the provisions of this Lease, except, however the term “Lease Year” Rent (as defined in Paragraph 5 below) shall mean be adjusted at the commencement of each consecutive twelve Extension Period to an amount equal to the then current fair market rental rate as agreed to by Landlord and Tenant, but in no event shall the Rent be less than the Rent payable on the date immediately preceding the commencement of such Extension Period, plus an escalation of three percent (123%) month period during as provided in Paragraph 5.1.4 below. If after thirty (30) days following delivery of the Lease Termwritten extension notice described in Paragraph 4.2 below, Landlord and Tenant are unable to agree upon the fair market rental value of the Premises, Tenant shall obtain at its expense and deliver to Landlord an independent appraisal of the fair market rental value of the Premises as of the commencement of the Extension Period. At any time during the Lease TermWithin thirty (30) days of its receipt of Tenant’s appraisal, Landlord may elect to obtain at its expense and deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only second independent appraisal of the information set forth thereinfair market rental value of the Premises as of the commencement of the Extension Period. If Landlord elects not to obtain and deliver to Tenant a second appraisal within the required time period, which Tenant shall execute and return to Landlord within ten or if Landlord’s appraisal is no more than five percent (105%) business days of receipt thereof; provided, howevergreater than Tenant’s appraisal, Tenant’s failure to execute and return such notice to Landlord within such time appraisal shall be conclusive upon Tenant that conclusive. If Landlord’s appraisal is more than five percent (5%) greater than Tenant’s appraisal, the information set forth in such notice is as specified therein. In addition two appraisers shall appoint a third appraiser to appraise the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession fair market rental value of the Premises to Tenant on or before January 2as of the commencement of the Extension Period, 2015 (and the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession fair market rental value of the Premises to Tenant. Any such Base Rent Abatement shall be separate from the arithmetical average of the two appraisals closest in their determination of fair market rental value. Landlord and Tenant shall bear equally the expense of the third appraiser. The Monthly Rent as so determined for each Extension Period shall be increased annually by three percent (3%) as provided in addition to any Rent Abatement described in Section 3.2 below.Paragraph 5.1.4
Appears in 2 contracts
Sources: Single Tenant Absolute Net Lease (Guilford Pharmaceuticals Inc), Single Tenant Absolute Net Lease (Guilford Pharmaceuticals Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease shall commence on the date that both LI Substantial Completion (as hereinafter defined in Section 23.01(c)) and “LI Substantial Completion” under that certain Lease Agreement by and between Landlord and Tenant dated as of the Execution Date (the “Parking Lease”) have occurred (such date, the “Commencement Date”) and expire on the date which is the last day of the full calendar month One Hundred Twenty-Six (126) months thereafter (“Lease Term”). Notwithstanding the foregoing, if applicable, the Commencement Date shall be extended to be the earlier of (i) shall commence on forty-five (45) days following the “Lease Commencement Date,” start of Tenant’s right to early access (as that term is set forth described in Section 3.2 2.04); or (ii) commencement of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 commercial operation of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of Tenant’s business at the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term The initial “Lease Year” shall mean each consecutive consist of any partial month following the Commencement Date, and the subsequent twelve (12) month full calendar months. Each subsequent Lease Year shall consist of a consecutive period during of twelve (12) full calendar months thereafter. Upon determination of the Commencement Date and square footage of the Building pursuant to Article Nineteen, Landlord and Tenant shall promptly execute an acknowledgment form setting forth the actual Commencement Date, acceptance of the Premises and confirmation of the square footage of the Building. Failure to execute such acknowledgment shall not affect the actual Commencement Date or expiration of this Lease. Tenant shall have two (2) options to extend the Lease Term. At any time during Term of this Lease for consecutive terms of five (5) years each, subject to the Lease Term, Landlord may deliver to Tenant a notice in the form as terms and conditions set forth in Exhibit C, attached hereto, as a confirmation only of Article Twenty One in the information set forth therein, which Tenant shall execute and return Riders to Landlord within ten (10) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLease Agreement.
Appears in 2 contracts
Sources: Lease Agreement (Blue Apron Holdings, Inc.), Lease Agreement (Blue Apron Holdings, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease Sublease (the “Lease Term”) shall commence on sixty (60) days following Sublandlord’s delivery of the Sublease Premises to Subtenant in the required condition and receipt of Master Landlord’s written consent to this Sublease (the “Lease Sublease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ”) and shall terminate expire on July 31, 2025 (the “Lease Sublease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is sooner terminated as hereinafter providedprovided herein. Tenant hereby acknowledges Subtenant expressly agrees that it shall have no right to extend the Term of this Sublease or to require that Sublandlord exercise its option rights under Section 2.2 “Option Term” of the Master Lease, and Sublandlord agrees that it will not exercise its option rights under Section 2.2 “Option Term” of the Master Lease or otherwise extend the term of the Master Lease. Sublandlord and Subtenant each further understand, acknowledge and agree that the Premises are currently occupied by another tenant Sublease Expiration Date occurs at the end of the Building. If Landlord is unable Lease Term under the Master Lease, and that both parties intend for any reason this Sublease to deliver possession be characterized as a sublease of the Sublease Premises, and not as an assignment of Sublandlord’s rights under the Master Lease. On the last day of the Term, or on the sooner termination of this Sublease, Subtenant shall surrender the Sublease Premises to Tenant Sublandlord in as good condition and repair as received, normal wear and tear excepted, with all alterations or improvements made by Subtenant removed, to the extent properly required by Master Landlord, without damage to the Sublease Premises or the Building, and otherwise in the manner required by the Master Lease, as incorporated herein, including, without limitation, the provisions of Section 15 “Surrender Of Premises; Ownership And Removal Of Trade Fixtures” of the Master Lease. Subtenant shall have the right to enter the Sublease Premises during the sixty (60) day period following Sublandlord’s delivery of the Sublease Premises to Subtenant in the required condition and receipt of Master Landlord’s written consent (the “Early Access Period”), for the limited purposes of preparing the Sublease Premises for occupancy and occupancy of completed areas. Such entry and occupancy shall be on any specific date all of the terms of this Sublease, then Landlord except that Subtenant shall not be subject required to pay any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period rent 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 thereofEarly Access Period; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time that Subtenant shall be conclusive upon Tenant that responsible for the information set forth payment of all utilities and other services which Subtenant uses in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of Sublease Premises during the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowEarly Access Period.
Appears in 2 contracts
Sources: Consent to Sublease Agreement (Bolt Biotherapeutics, Inc.), Sublease Agreement (Bolt Biotherapeutics, Inc.)
Lease Term. 5.1 The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease for the Premises shall be for a period of one hundred eighty (180) months (said initial term, as extended by any Renewal Term, the "TERM"), commencing on the Commencement Date.
5.2 Provided that if, on or prior to the date upon which the Term is scheduled to expire (the “"EXPIRATION DATE") or any other Renewal Date (as hereinafter defined) this Lease Term”) shall commence not have been terminated pursuant to any provision hereof, then on the “Lease Commencement Date,” as that term is set forth in Section 3.2 Expiration Date and on the fifth (5th) anniversary of the SummaryExpiration Date (the Expiration Date and each such anniversary being referred to herein as a "RENEWAL DATE"), and Tenant shall terminate on have the “right to extend the Term (each such extension, a "RENEWAL TERM") for an additional period of five (5) years with respect to each Renewal Term, notification to Landlord in writing at least twelve (12) months (the "RENEWAL NOTICE DATE") prior to the next Renewal Date that Tenant is extending this Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summarynext Renewal Date (each such notice, unless this Lease is sooner terminated as hereinafter provideda "RENEWAL NOTICE"). If Tenant hereby acknowledges that elects to not send a Renewal Notice to Landlord, Tenant shall have the Premises are currently occupied right to extend the then current Term by another tenant a period of up to six (6) months by giving to Landlord a written notice of such extension at least twelve (12) months prior to the expiration of the Building. If Landlord is unable for any reason to deliver possession then current Term, which notice shall specify the length of such extension of the Premises Term (not to Tenant on any specific date , then Landlord exceed six (6) months). Any extension of the Term shall not be subject to any liability for its failure to do so, and such failure shall not affect all of the validity of this Lease or the obligations of Tenant hereunder. For purposes provisions of this Lease, as the term “Lease Year” shall mean each consecutive twelve same may be amended, supplemented or modified (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 except that Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that not have the information set forth in such notice is as specified therein. In addition to the foregoing, subject right to any delays caused by Tenant or any Tenant Parties and events additional Renewal Terms). An extension of Force Majeure, if Landlord fails this Lease according to tender possession Section 545 German Civil Code due to continued usage of the Premises to by Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)is specifically excluded.
5.3 Except as otherwise expressly provided herein, Tenant shall be entitled have no right and hereby waives all rights which it may have under any Law (i) to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession quit, terminate or surrender this Lease or any of the Premises Premises, save for Tenant's right to Tenant. Any such Base Rent Abatement shall be separate from terminate this Lease for cause ("AUS WICHTIGEM ▇▇▇▇▇") including, but not limited to, Sections 543 and in addition 578 of the German Civil Code, or (ii) to any Rent Abatement described set-off of any Rent, unless such amounts claimed by Tenant are not disputed by Landlord or have been confirmed in Section 3.2 belowa non-appealable judgment.
Appears in 2 contracts
Sources: Lease Agreement (Corporate Property Associates 17 - Global INC), Lease Agreement (Corporate Property Associates 17 - Global INC)
Lease Term. The terms 3.1 Both Parties hereby acknowledge and provisions agree to terminate the warehouse lease under the Initial Chemical Warehouse Lease Agreement without any limitation or reservation.
3.2 For the Leased Area, the Parties agree that the Lease Term shall begin on November 1, 2014 until the date that SKE decides to terminate the Warehouse Building lease.
3.3 After the Warehouse Building lease commences, SKE shall give notification in writing not less than thirty (30) days before the expiration of the Lease Term to terminate the Warehouse Building lease.
3.4 Ding Hong shall not terminate this Lease Agreement without SKE's written approval. During the Lease Term, the items relating to the Rental set forth in Article 5 of this Lease Agreement shall be effective as adjusted biannually on the basis of the date of this Lease. The term of this Lease (market prices after consultation and agreement between the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. Parties.
3.5 If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 Ding Hong receives from a third party a bona fide, legally binding offer to Tenant a lease the portion of the Warehouse Building not already leased by SKE, Ding Hong shall notify SKE of this fact. The notice shall specify all the terms of the bona fide third party offer. SKE shall then have thirty (30) days to lease that portion of the Warehouse Building specified in the form as third party’s bona fide offer for the rent and related details set forth in Exhibit C, attached hereto, as a confirmation only Articles 4 and 5. Ding Hong shall not lease any portion of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject Leased Area to any delays caused by Tenant or any Tenant third party until the thirty (30) days has expired without SKE exercising its right of first refusal. Any other terms not specified in this Lease Agreement regarding the Leased Area, both Parties shall negotiate and events of Force Majeure, if Landlord fails to tender possession sign a supplemental agreement for these unspecified terms. Such signed supplemental agreement shall constitute a part of the Premises to Tenant on or before January 2, 2015 (entire Lease Agreement and shall have the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on same effectiveness as the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowentire Lease Agreement.
Appears in 2 contracts
Sources: Chemical Warehouse Lease Agreement, Chemical Warehouse Lease Agreement (Diodes Inc /Del/)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease is fully executed. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Rent Commencement Date and each consecutive subsequent 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 C2.1, 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, however, but execution of such instrument shall not be a condition to Lease commencement or Tenant’s failure obligations hereunder. Landlord shall endeavor to execute and return such notice provide to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition Tenant, without any obligation to pay Rent, early access to the foregoing, subject Premises approximately ten (10) days before the Rent Commencement Date in order to any delays caused allow Tenant to prepare the Premises for the conduct of its business (by Tenant or any Tenant Parties installing equipment and events of Force Majeure, if trade fixtures). If Landlord fails is unable to tender possession of deliver the Premises to Tenant on or before January 2the Estimated Lease Commencement Date, 2015 (Landlord shall use commercially reasonable efforts to deliver the “Base Rent Delivery Date”)Premises to Tenant as soon as is reasonably practicable thereafter, and in such an event, this Lease shall remain in full force and effect, but Tenant shall have no obligation to commence paying Rent and the Rent Commencement Date and Lease Expiration Date shall be entitled to one (1) day of per diem Base Rent abatement commensurately deferred for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of delay in Landlord’s delivery to Tenant of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowPremises.
Appears in 2 contracts
Sources: Lease Agreement (Organovo Holdings, Inc.), Lease (Organovo Holdings, Inc.)
Lease Term. (a) Landlord has delivered actual possession of the Premises to Tenant as of the Effective Date, and such shall be known herein as the “Commencement Date.”
(b) The terms and provisions term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (10) years (the “Lease Term”) shall commence ), beginning on the “Lease Commencement Date,” as . The date that term is set forth in Section 3.2 of the SummaryLease Term ends, and shall terminate whether on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of last day thereof pursuant to the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity stated terms of this Lease or such earlier date as this Lease is terminated by its terms, including, without limitation, any exercise by Tenant of the obligations Termination Right (as defined in Section 2(d) below), is referred to herein as the “Expiration Date.”
(c) In the event that Tenant notifies Landlord at least one hundred eighty (180) days prior to the expiration of the Lease Term that Tenant hereunderdesires to renew the Lease, Landlord and Tenant shall negotiate in good faith to determine whether mutually agreeable terms may be reached with respect to any such renewal. For purposes Nothing in this Section 2(c) shall require Landlord or Tenant to agree on a renewal of this Lease, and any terms negotiated with respect thereto are intended to be at arms-length.
(d) Notwithstanding anything to the term “contrary in this Lease, Tenant shall have the right, in its sole and absolute discretion and without any fee or penalty, to terminate this Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At 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, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive Term upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to at least one (1) day of per diem Base Rent abatement for each day commencing on year prior written notice to Landlord (the day after the Base Rent Delivery Date “Termination Notice”), and ending on the date Landlord so tenders possession specified in such Termination Notice as the termination date (the “Early Termination Date”) shall thereafter be the Expiration Date of this Lease. Tenant shall remain subject to the Premises to Tenant. Any such Base Rent Abatement shall be separate from terms and in addition to any Rent Abatement described in Section 3.2 belowconditions of this Lease through the Early Termination Date.
Appears in 2 contracts
Sources: Lease Agreement (MiniMed Group, Inc.), Lease Agreement (MiniMed Group, Inc.)
Lease Term. The terms This Lease, and each supplement to this Lease, shall be for a term which commences on the date of execution of such Lease or supplement, as applicable, and ending as of the date on which all Outstanding Related Amount of Bonds have been paid or otherwise are deemed paid pursuant to Article VIII of the Indenture, subject, however, to the rights of the Board under Section 4.09(b) of the Lease to pay the Purchase Option Price with respect to any Project and thereby terminate the Lease as to such Project and subject further to the provisions of Section 4.09(a) of the Lease pursuant to which the term of this Lease and all supplements thereto shall be terminated and this Lease and all supplements shall be canceled in any year for which Appropriated Payments are not sufficient, together with any available Program Revenues, to pay the Lease Rentals as provided in Section 4.07; provided that if for any reason it is hereafter determined that any agency or instrumentality of the State of South Dakota is not authorized to execute, as lessee, this Lease and any supplement thereto with the Issuer, as lessor, for the term of years herein or therein provided, and subject to termination and cancellation as hereinabove provided, then the foregoing provision in this Section 4.11 of this Lease shall be effective as of no further force and effect and in lieu thereof this Lease and any supplement thereto shall be and become a lease for one (1) year ending June 30 of the year following the most recent payment under the Lease, with options to renew the Lease for successive renewal terms commencing July 1 of each year and ending June 30 in the next ensuing year, beginning July 1 of the year in which the rental appropriation is made by the Legislature and the final renewal term for the last year ending August 1 listed on Exhibit D hereto, which is the agreed date by which the Board will have paid the amount required to retire at their final maturity date all of this Leasethe Bonds issued by Issuer to pay the cost of providing for the Facilities referred to herein. The term In such event, for each of this any such renewal terms the Board shall become obligated to pay and hereby agrees to pay out of the Appropriated Payments and other amounts legally available to the Board for such purpose to the Issuer a cash Lease (the “Lease Term”) shall commence Rental for each year payable on the “Lease Commencement Date,” as that term is dates which are set forth for each year in Section 3.2 Exhibit D hereto. Each of the Summary, and shall terminate on successive options to renew herein granted may be exercised for the “Lease Expiration Date,” as that successive renewal term is set forth in Section 3.3 at any time after the adjournment of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant Legislature of the Building. If Landlord is unable State at which any necessary appropriations shall have been made for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 thereofsuccessive renewal term; provided, however, Tenant’s failure to execute such options shall in each instance be deemed automatically exercised 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. In addition to Lease automatically renewed for the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day successive renewal term commencing on the first day after thereof if any necessary appropriation has been made by the Base Rent Delivery Date and ending on the date Landlord so tenders possession Legislature of the Premises to Tenant. Any State of South Dakota for the payment of the Lease Rentals thereof and such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowappropriation has been approved by the Governor.
Appears in 2 contracts
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 for six (6) years, and shall, subject to Section 1(e) below, commence on the later of (i) the date of Substantial Completion (as defined in the Tenant Work Letter attached as Exhibit G) by Landlord of the Tenant Improvements (as defined in the Tenant Work Letter attached as Exhibit G), subject to Punch List Work (as defined in the Tenant Work Letter attached as Exhibit G), and (ii) June 1, 2009 (the “Lease Scheduled Commencement Date,” ”) (the actual date that the Lease Term commences in accordance with this Section 1(c) being referred to herein as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Commencement Date”), and, subject to any extension as in this Section 1(c), shall end on May 31, 2015 (the “Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building”). If Landlord is unable fails to deliver possession of Premises to Tenant in the condition required by this Lease on the Scheduled Commencement Date, Landlord shall not be liable for any reason damage caused thereby, nor shall this Lease become void or voidable, but in such event, no Monthly Base Rent (as defined in Section 1(h) below) or Additional Rent shall be payable by Tenant to deliver Landlord until Landlord delivers possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect in the validity of this Lease or the obligations of Tenant hereunder. For purposes of condition required by this Lease, and the term Expiration Date shall be extended by the same number of days as the delay in delivery of possession of the Premises. Notwithstanding the foregoing, if the Commencement Date has not occurred within ninety (90) days of the Scheduled Commencement Date (subject to events of force majeure), Tenant shall have the right to terminate this Lease, without penalty, by delivering written notice thereof to Landlord (the “Termination Notice”), which termination shall be effective ten (10) days from receipt by Landlord of the Termination Notice (the “Termination Effective Date”). This Lease Year” shall mean each consecutive twelve (12) month period during terminate upon the Lease Term. At Termination Effective Date and neither party shall thereafter have any time during the Lease Termfurther rights or obligations hereunder except as expressly provided herein, and Landlord may deliver shall return to Tenant a notice the Security Deposit (as defined in the form as set forth Section 1(i) below) and any prepaid Monthly Base Rent (defined in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord Section 1(h) below) within ten (10) business days of receipt thereof; providedafter the Termination Effective Date, however, 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. In addition unless prior to the foregoingTermination Effective Date, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of delivers the Premises to Tenant on or before January 2, 2015 (in the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowcondition required by this Lease.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement (Tableau Software Inc)
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, as the same may be extended in accordance with the Extension Option Rider attached hereto as Exhibit G and shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Commencement Date and end on the last day of the eleventh full calendar 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 Expiration Date. At any reasonable time during after the Lease TermCommencement Date (but in any event not to exceed ninety (90) days after the Commencement Date), Landlord may shall deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretohereto (the “Notice of Lease Term Dates”), as a confirmation only of the information set forth therein, which Tenant shall either respond to or execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return in the event Tenant executes and returns such notice to Landlord within such time Notice of Lease Dates the dates set forth therein shall be conclusive and binding upon Tenant. Failure of Tenant to timely respond to or execute and deliver the Notice of Lease Term Dates shall constitute an acknowledgment by Tenant that the information set forth statements included in such notice is as specified therein. In addition to the foregoingare true and correct, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowwithout exception.
Appears in 2 contracts
Sources: Consent to Sublease (Arlo Technologies, Inc.), Office Lease (Arlo Technologies, Inc.)
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 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the “Base Rent Delivery Date”Summary), Landlord shall not be subject to any liability nor, except as otherwise provided below, shall the validity of this Lease nor the obligations of Tenant shall hereunder be entitled to one (1affected. In the event that the Lease Commencement Date is date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) day of per diem Base Rent abatement for each day commencing on the day Summary, within reasonable period of time after the Base Rent Delivery Date and ending on the date Landlord so tenders Tenant takes possession of the Premises Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, setting forth, among other things, the Lease Commencement Date and the Lease Expiration Date, and Tenant shall execute and return such amendment to Landlord within five (5) days after Tenant's receipt thereof provided Tenant approves the contents thereof (which approval shall not be unreasonably withheld). Any such Base Rent Abatement shall be separate from [***] Confidential portions of this document have been redacted and in addition to any Rent Abatement described in Section 3.2 belowfiled separately with the Commission.
Appears in 2 contracts
Sources: Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 five (105) business days of receipt thereof; provided, however, 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. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January March 31, 2020, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) June 30, 2015 (the “Base Rent Delivery Date”)2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Sources: Lease (MyoKardia Inc)
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 commence be the period specified in paragraph 1 hereof and shall begin on the “Lease Commencement Date,” . The Commencement Date shall be the date shown in paragraph 1 or provided that by such date the Landlord has completed the Landlord’s Work in accordance with the plans and specifications as that term is set forth described in Section 3.2 Exhibit B with the exception of a minor punch list and the Summary, Tenant has inspected the Premises and shall terminate on has given written notice to the Landlord (the “Lease Expiration Date,” as Tenant Satisfaction Notice”) that term it is set forth in Section 3.3 of satisfied with the SummaryLandlord’s Work, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord such acceptance shall not be subject to any liability for its failure to do so, unreasonably withheld. . In the event that the Landlord has not completed the Landlord’s Work and such failure shall the Tenant has not affect issued the validity of this Lease or Tenant’s Satisfaction Notice by the obligations of Tenant hereunder. For purposes of this Leasedate shown in paragraph 1 above, the term “Lease Year” Commencement Date shall mean each consecutive twelve be the earlier of (12i) 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 from the date the Tenant has issued the Tenant’s Satisfaction Notice or (ii) the date on which Tenant takes possession of the Premises. If the Commencement Date has not occurred for any reason whatsoever by November 15, 2003, , this Lease shall be voidable by the Tenant as its sole discretion and the Landlord shall return to the Landlord the full amount of the rent and security deposit paid by the Tenant. However, if Landlord should be delayed in such completion as a result of Tenant’s request for materials or installations other than Landlord’s standard or as a result of Tenant’s changes in plans, then the Commencement Date (and the payment of Rent hereunder) shall be accelerated by the number of days of receipt thereofsuch delay. In addition, if Landlord does not receive an executed copy of the lease agreement by September 8th then the rent commencement shall be accelerated by the number of days of such delay. If the Premises are vacant prior to the Commencement Date, Tenant shall have the right, at its own risk, to enter upon the Premises for the purpose of taking measurements therein, setting up office equipment and relevant telecommunications and for any other reasonable purpose permitted by Landlord; provided, however, Tenant’s failure to execute that such entry shall not interfere with any work being done by or on behalf of Landlord, and return such notice to Tenant shall indemnify Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinagainst any loss or liability arising therefrom. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)addition, Tenant shall be entitled responsible for any damage to one (1) day of per diem Base Rent abatement for each day commencing on the day after premises from its contractors entering the Base Rent Delivery Date space and ending on such damage shall not be considered a factor in the date Landlord so tenders possession Landlords delivery of the Premises space to Tenant. Any such Base Rent Abatement shall be separate from and in addition the Tenant or with regard to any Rent Abatement described in Section 3.2 belowthe Tenants satisfactions letter with regard to Landlords work.
Appears in 1 contract
Sources: Lease Agreement (Metromedia International Group Inc)
Lease Term. The terms
3.1 This Lease shall be for a term that commences on the Lease Term Commencement Date and expires on the last day of the calendar month in which the thirty-forth (34th) anniversary of the Coliseum Plaza Rent Commencement Date occurs (the "Initial Term"), unless sooner terminated or renewed as hereinafter provided and upon and subject to the covenants, agreements, terms, provisions and limitations herein set forth. Notwithstanding the foregoing or any other provision of this Lease to the contrary, in no event, for any reason whatsoever, shall the term (including renewal or extension terms, if any) of this Lease exceed forty-nine (49) years. In the event that the duration of the Initial Period, the Initial Term and all available Renewal Terms of this Lease would otherwise be more than forty-nine (49) years, then, notwithstanding any provision of this Lease to the contrary, the Initial Term shall be shortened by the number of days within the Initial Period so that the term (including renewal or extension terms, if any) of this Lease shall be effective as of the date of this Lease. The term of this Lease forty-nine (the “Lease Term”49) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 thereofyears; provided, however, Tenant’s failure that Tenant shall, to execute and return such notice to Landlord within such time shall be conclusive upon Tenant the extent that the information set forth in such notice is scheduled expiration of the Lease Term, as specified thereinthe same may be adjusted by operation of this Section 3.1, has not previously been established by way of a supplemental agreement or certification as contemplated by Section 3.3 to adjust the Initial Term, give Landlord not less than twenty-four (24) months' Notice prior to terminating this Lease by invoking this provision.
3.2 The Lease may be renewed by Tenant for three (3) additional terms of five (5) years each (each, a "Renewal Term"; the Initial Term and the Renewal Term(s), if any, collectively being referred to as the "Lease Term") on the same terms and conditions as provided herein for the Initial Term. In addition If Tenant wishes to renew the Lease pursuant to this Section 3.2, then Tenant shall (i) not less than two (2) years prior to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession expiration of the Premises Initial Term or then effective Renewal Term, give either a non-binding Notice of an intention to exercise a renewal or a binding Notice of an exercise of a renewal and (ii) if Tenant on or before January 2provided a non-binding Notice of an intention to exercise a renewal rather than a binding Notice of an exercise of a renewal, 2015 (the “Base Rent Delivery Date”)then, in order for such renewal to be exercised, Tenant shall thereafter provide a binding Notice to Landlord of Tenant's exercise of a renewal not less than eighteen (18) months prior to the expiration of the Initial Term or the then effective Renewal Term. It shall be entitled a condition to one any Renewal Term that there be no Event of Default either (1) at the time that Tenant shall exercise its option to renew as aforesaid or (2) on the last day of per diem Base Rent abatement for each day commencing on the day after Initial Term or then effective Renewal Term hereof, as applicable, unless Landlord shall waive the Base Rent Delivery Date same.
3.3 Landlord and ending on the date Landlord so tenders possession Tenant shall, within thirty (30) days of the Premises request of either party, execute a supplemental agreement or certification setting forth, to Tenant. Any such Base Rent Abatement shall the extent then determined, the Lease Effective Date, the Lease Term Commencement Date, the scheduled expiration date for the Initial Term or any then effective Renewal Term, the commencement and expiration dates of the initial Lease Year and/or the Initial Period and/or other milestone dates under this Lease as may from time to time be separate from and in addition to any Rent Abatement described in Section 3.2 belowreasonably requested.
Appears in 1 contract
Sources: Plaza Lease
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”) Term shall commence on the “Lease Commencement Date and expire at midnight on the Expiration Date,” as that term is . If Substantial Completion of the Premises has not occurred on the date set forth in Section 3.2 Article 1 as the Commencement Date, then the Commencement Date shall be the date of Substantial Completion; provided, that if Tenant uses or accepts the Premises before Substantial Completion or the date set forth in Article 1 as the Commencement Date, then the Commencement Date shall be the date upon which Tenant uses or accepts the Premises (i.e., the date on which Tenant begins to move furniture, furnishings, inventory, equipment or trade fixtures into the Premises). In such event, the Expiration Date shall be adjusted accordingly so that the period of the SummaryTerm is not changed. If requested by Landlord, Tenant shall within fifteen (15) days of such request sign a declaration acknowledging the Commencement Date and the Expiration Date in the form attached hereto and made a part hereof as Exhibit C. If Landlord, for any reason other than Tenant Delay (as defined in the Work Agreement), cannot deliver the Premises in condition for occupancy by Tenant to conduct its business therein on the Commencement Date specified in Article 1 of this Lease, rent shall abate for the period between said ▇▇▇▇▇ncement Date and the time when Landlord can deliver such possession. In the event the Premises are not in condition for occupancy ninety (90) days after the Commencement Date specified in Article 1 hereof for any reason other than Force Majeure events or Tenant Delay, the Tenant shall have the sole right to cancel or terminate this Lease, without any further obligation on its part, upon giving written notice of its intention to do so (which notice shall specify that it is given pursuant to Section 4.1 of this Lease), provided Tenant's option to cancel and terminate this Lease must be exercised by written notice to Landlord, served no later than thirty (30) days after such right to cancel and terminate arises. If Tenant shall give such notice, then this Lease and the Term and estate hereby granted shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 date of the Summary, unless this Lease is sooner terminated giving of such notice with the same effect as hereinafter provided. Tenant hereby acknowledges that if such date were the Premises are currently occupied by another tenant date herein before specified for the expiration of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity Term of this Lease or the obligations of Tenant and neither party shall have any further obligation to perform hereunder. 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. The terms and provisions With respect to Suite #210, the term of this Lease shall be effective as for a period of sixty seven (67) months, commencing on the 1st day of May, 2000 (the "Suite #210 Commencement Date"), and with respect to the 3,723 square feet comprising Suite #250 of the date of this Lease. The Premises, the term of this Lease (the “Lease Term”) shall commence on December 1, 2000 (the “Lease "Suite #250 Commencement Date,” as that term is set forth in Section 3.2 of the Summary"), and shall terminate ending for the entire Premises at midnight on the “30th day of November, 2005 ("Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the BuildingTerm"). If Landlord is unable for any reason to Landlord cannot deliver possession of Suite #210 to the Premises to Tenant on any specific date or before the Suite #210 Commencement Date, then Landlord or cannot deliver possession of Suite #250 to the Tenant on or before the Suite #250 Commencement Date, Tenant shall not be obligated to pay Rent for a suite comprising part of the Premises until possession of such suite is tendered to Tenant. In such event, the Lease Term shall be extended so that the term remains 67 months. If the Premises is delivered on a date other than the first day of the month, Rent for that month shall be prorated and the Lease Term shall be extended so that the term shall be 67 months from the first day of the following month. In the event that delivery of possession results from Tenant's failure to perform work for which Tenant is responsible, or Tenant fails to furnish or approve the plans and specifications as provided above, or fails to make timely selections of materials, color choices or other matters for which Tenant is responsible, Rent and Additional Rent shall, nonetheless, commence on the Commencement Date. If Tenant occupies the Premises prior to the Commencement Date, such occupancy shall be subject to any liability all provisions hereof and shall not advance the last day of the Lease Term, and Tenant shall pay Rent for its such period at the initial monthly rate set forth below. At the request of Landlord, Tenant hereby agrees to execute a declaration in the form attached hereto as Exhibit C ("Declaration") as incorporated herein by reference. Tenant's failure to do so, and such failure execute the Declaration shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this LeaseSuite #210 Commencement Date, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during Suite #250 Commencement Date or the Lease Term, Landlord may deliver to Tenant a notice in as the form as set forth in Exhibit C, attached hereto, as a confirmation only same are determined by the terms of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowthis Lease.
Appears in 1 contract
Sources: Office Lease (Talk America)
Lease Term. (a) The terms “Lease Term” is for a period of time commencing at 12:01 a.m. on the Commencement Date, or on such later date as is provided in subparagraph (c) below, and provisions continuing thereafter through and until 6:00 p.m. on the last day of the month in which the Expiration Date occurs.
(b) If on the Commencement Date the Premises have not been substantially completed due to omission, delay or default by Tenant or anyone acting under or for the Tenant (including, without limitation, Tenant’s default or failure to perform its obligations in a timely manner or any delay resulting from changes to the “Drawings and Specifications” by Tenant ) then Tenant’s obligations under this Lease (including, without limitation, the obligation to pay rent) shall be effective nonetheless commence as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” .
(c) If, due to causes other than as that term is set forth in Section 3.2 of the Summarysubparagraph (b) above, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to does not deliver possession of the Premises to Tenant on any specific date the Commencement Date with the Improvements described in Paragraph 2 of Exhibit B substantially completed, then Landlord this Lease shall not be subject void or voidable, nor shall Landlord be liable to Tenant for any liability for its failure to do soloss or damage resulting therefrom, but in that event rent shall ▇▇▇▇▇ until the date when Landlord does deliver possession in accordance with the terms and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes requirements of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during and the Lease TermTerm shall commence on the date when possession is delivered to Tenant, and in such event the Expiration Date shall occur on the last day of the month that is five (5) years following the date on which the Commencement Date actually occurs. At any time during Notwithstanding the Lease Termforegoing, Landlord may deliver to Tenant a notice however, in the form as set forth in Exhibit C, attached hereto, as a confirmation only event that Landlord does not deliver possession of the information set forth thereinPremises to Tenant, which with the Improvements described in Paragraph 2 of Exhibit B hereof substantially completed, within one hundred fifty (150) days after the date this Lease has been executed by Landlord and Tenant, then Tenant shall execute and return may, at its option, by written notice to Landlord within ten not later than five (105) business days after the expiration of receipt thereof; providedsuch one hundred fifty (150) day period, cancel this Lease, in which event Landlord and Tenant shall each be discharged from their obligations hereunder. Such one hundred fifty (150) day period shall be extended on a day for day basis, however, 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. In addition to the foregoing, subject to for any delays caused by Tenant including, without limitation, any delays caused by any changes to the work described in Paragraph 2 of Exhibit B which are caused by Tenant, or any Tenant Parties and events delays caused by Tenant’s early entry under the terms of Force Majeure, if subparagraph (e) hereof.
(d) In the event that Landlord fails to tender cannot deliver possession of the Premises to Tenant on the Commencement Date because of Tenant’s failure to perform its obligations under, or before January 2to pay the amounts specified, 2015 (the “Base Rent Delivery Date”), Tenant this Lease shall be entitled to one (1) day terminable at the sole option of per diem Base Rent abatement for each day commencing on the day Landlord at any time after the Base Rent Delivery Commencement Date and ending on the date prior to Tenant’s performance or payment; and should Landlord so tenders possession elect to terminate this Lease, such termination shall be without prejudice to Landlord’s right to ▇▇▇ Tenant to recover damages for Tenant’s failure to perform its obligations, or to pay amounts due.
(e) Landlord shall permit Tenant to enter the Premises at least two (2) weeks prior to the Commencement Date for the purpose of installing Tenant’s systems furniture and low voltage wiring. Tenant’s entry shall be subject to each of the Premises terms and conditions of this Lease except Tenant’s obligation to Tenantpay Base Rental and Basic Costs shall not commence until the Commencement Date. Any installations made by Tenant during such Base Rent Abatement period shall be separate from at Tenant’s risk, and in addition Landlord shall not be liable for any loss or damage thereto. Tenant’s entry shall not be permitted to any Rent Abatement described in Section 3.2 belowinterfere with or delay Landlord’s construction of the Improvements.
Appears in 1 contract
Sources: Lease Agreement (Danger Inc)
Lease Term. The terms and provisions of this the 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 5.1 of the Summary, shall commence on the “Lease Commencement Date,” date which is the earlier to occur of (i) the date Tenant opens for business in the Premises, and (ii) the date of "Substantial Completion", as that term is set forth defined in Section 3.2 the Article 2, of the SummaryPremises by Landlord ("Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 5.4 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) 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 eleventh 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. For purposes of this Lease, "Substantial Completion" of the Premises shall occur upon completion of construction, as reasonably determined by Landlord, of the "Tenant Improvements," as that term is defined in the Tenant Work Letter, in the Premises pursuant to the plans and drawings which are prepared pursuant to the terms of the Tenant Work Letter, with the exception of any punch list items and any tenant fixtures, work-stations, built-in furniture, or equipment to be installed by Tenant in the Premises pursuant to the terms of the Tenant Work Letter or to be installed under the supervision of "Contractor" as that term is defined in the Tenant Work Letter (the "Tenant Work"). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit CB, attached hereto, as a confirmation only of the information set forth therein, hereto which notice Tenant shall execute and return to Landlord within ten five (105) business days prior of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Office Lease (Venture Catalyst Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease will be for a period of ten years (the “Lease Term”) shall commence "INITIAL LEASE TERM"), commencing on the “date ("COMMENCEMENT DATE") which is the later of: (a) May 1, 1997; or (b) the 46th day after the substantial completion of the Improvements. The Initial Lease Term will end on the tenth anniversary of the Commencement Date,” as that term . Notwithstanding anything to the contrary contained herein, if the substantial completion of the Improvements is delayed beyond the targeted substantial completion date set forth in Section 3.2 /section/4, above, as a result of any Tenant-caused Delay Event (meaning any of those Delay Events specified in subparagraphs (d) through (h) in /section/4), then the Commencement Date of the SummaryInitial Lease Term will be deemed to be the later of May 1, 1997 or the date which, but for the occurrence of such Tenant-caused Delay Event, would have been the Commencement Date within the meaning of the first sentence of this /section/5, and shall terminate on the “Lease Expiration Date,” as that term is from and after such date, Tenant will be obligated to pay Base Rent and all Operating Expenses and otherwise perform all of its other obligations and duties set forth in Section 3.3 this Lease. Tenant will have an option to extend the Lease Term for up to three consecutive renewal terms of five years each. Tenant's right to exercise its option with respect to any such renewal term will be expressly conditioned upon both of the Summary, unless this Lease is sooner terminated as hereinafter provided. following conditions being satisfied with respect to each such renewal term: (a) Tenant hereby acknowledges that must give written notice to Landlord of its election to exercise its option with respect to such renewal term at least 180 days prior to the Premises are currently occupied by another tenant scheduled commencement date of such renewal term; and (b) on the date of the Buildingexercise of such option and on the scheduled date for the commencement of such renewal term, the Lease must be in full force and effect without any material default by Tenant thereunder. If Landlord is unable for any reason to deliver possession Tenant's occupancy of the Premises to Tenant on Property during any specific date , then Landlord shall not such renewal term will be subject to any liability for upon the same terms and conditions which govern its failure to do so, and such failure shall not affect occupancy of the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period Property during the Lease Term. At any time during the Initial Lease Term, Landlord may deliver except that the Base Rent payable during each such renewal term will be as provided in /section/6. All references in this Lease to the "LEASE TERM" will include the Initial Lease Term and any renewal term exercised by Tenant a notice in pursuant to this /section/5. Tenant will have the form as set forth in Exhibit Cright, attached heretoif it so elects, as a confirmation only to occupy the Building (or any part thereof) during the period after substantial completion of the information set forth thereinImprovements and prior to the Commencement Date ("EARLY OCCUPANCY PERIOD"), which Tenant shall execute and return without having any obligation to Landlord within ten (10) business days of receipt thereofpay any Base Rent; provided, however, Tenant’s failure that Tenant will be obligated to execute and return pay all Operating Expenses accruing during such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition Early Occupancy Period with respect to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession part of the Premises Building which it so occupies and will otherwise be required throughout the Early Occupancy Period to perform all of its other duties and obligations under this Lease with respect to the portion of the Building which it so occupies. Tenant on or before January 2will have the right during the Early Occupancy Period to install its telephone and computer equipment, 2015 (the “Base Rent Delivery Date”)furniture and work stations and pursue other pre-occupancy tasks. As of even date herewith, Tenant shall and HIBC Development Company have entered into an Expansion Agreement, which contemplates that, under certain circumstances, the initial Lease Term will be entitled extended to one (1) day become co-terminus with the termination date of per diem Base Rent abatement Tenant's leasing of an additional building to be constructed by HIBC Development Company for each day commencing on Tenant. The terms and conditions of any such extension of the day after initial Lease Term hereunder and the Base Rent Delivery Date and ending on payable by Tenant during any such extension period will be governed by the date Landlord so tenders possession terms of the Premises aforementioned Expansion Agreement. In the event that Tenant decides to Tenantinvoke its expansion rights under the Expansion Agreement and the initial Lease Term hereunder is thereby extended, Landlord will be obligated to pay Properties Atlantic, Inc. a brokerage commission upon any such extension of the initial Lease Term in an amount equal to $3.00 per rentable square foot contained within the Building, multiplied by a fraction which has as its numerator the number of full or partial years by which the initial Lease Term is extended and which has as its denominator ten years. Any such Base Rent Abatement shall commission will be separate from and payable in addition to any Rent Abatement described in Section 3.2 belowfull upon the parties' full execution of the document so extending the initial Lease Term.
Appears in 1 contract
Sources: Lease Agreement (Hte Inc)
Lease Term. The terms and provisions term of this Lease shall be effective as for a period of the date of this Lease. The term of this Lease 96 months commencing upon June 1, 2006 (the “Commencement Date”) and ending on May 31, 2014 (“Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building). If Landlord is unable for any reason to Landlord cannot deliver possession of the Premises to the Tenant on any specific date or before the Commencement Date, then Landlord Tenant shall not be obligated to pay rent until possession of the Premises is tendered to Tenant. In such event, the Lease Term shall be extended so that the term remains 96 months. If the Premises are delivered on a date other than the first day of the month, rent for that month shall be prorated and the Lease Term shall be extended so that the term shall be 96 months from the last day of the following month. If Tenant occupies the Premises prior to the Commencement Date, occupancy shall be subject to any liability for its failure to do so, all provisions hereof and such failure shall not affect advance the validity last day of this Lease or the obligations of Tenant hereunder. 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 and Tenant shall pay rent for such period at the initial monthly rate set forth below. Notwithstanding anything herein to the contrary, provided Tenant a notice is not in default hereunder, 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if event Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 within ninety (90) days following the “Base Rent Delivery Commencement Date”), Tenant shall be entitled have the right to one cancel this Lease by giving written notice to Landlord within ten (110) days after the ninety (90) day period ends. If Tenant gives such notice, this Lease shall be cancelled and neither Landlord nor Tenant shall have any further obligations to the other. If Tenant does not give such notice, Tenant’s right to cancel the Lease shall expire, and the Lease Term shall commence upon delivery of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Lease (Cuisine Solutions Inc)
Lease Term. The terms and provisions of this This Lease shall be effective as continue in force during a period beginning on the Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter providedor extended to a later date under any other term or provision herein. Subject to delays resulting from Force Majeure Matters or delays caused by Tenant hereby acknowledges that or Tenant's agents, employees, contractors, subcontractors or licensees, including, without limitation, change orders to the Tenant Improvements Plans and Specifications ("Tenant Delay Factors"), Landlord will do its best efforts to deliver the Premises are currently occupied to Tenant not later than the Commencement Date set forth in the Lease Summary (the "Target Commencement Date"), with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications, as evidenced, if requested by another tenant Tenant, by a certificate of the Buildingsubstantial completion issued by Landlord's architect or other designated engineering representative. If Landlord is unable for any reason whatsoever cannot deliver possession of the Premises to Tenant (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) not later than the Target Commencement Date, this Lease shall not be void or voidable nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom; but in that event, Landlord shall act diligently and in good faith to complete the work that is necessary to allow Landlord to deliver the Premises to Tenant as specified above. In such case, (a) if Landlord's failure to deliver possession of the Premises to Tenant on any specific date (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) by the Target Commencement Date is not the result, then Landlord shall not be subject to any liability for its failure to do soin whole or in part, and such failure shall not affect the validity of this Lease one or the obligations of more Tenant hereunder. For purposes of this LeaseDelay Factors, 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, however, Tenant’s failure to execute and return such notice to Landlord within such time Commencement Date shall be conclusive upon Tenant that adjusted to be the information set forth date when Landlord does in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender fact deliver possession of the Premises to Tenant on as described above and (b) if Landlord's failure to deliver possession of the Premises to Tenant (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) by the Target Commencement Date is the result, in whole or before January 2in part, 2015 of one or more Tenant Delay Factors, the Commencement Date shall be the later of (i) the “Base Rent Delivery Date”Target Commencement Date or (ii) the date the Tenant Improvements would have been substantially completed in the absence of such Tenant Delay Factors(s). Notwithstanding the foregoing, if for any reason other than Force Majeure Matters or Tenant Delay Factors, Landlord cannot deliver possession of the Premises (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) to Tenant by October 1, 2000, Tenant shall be entitled to terminate this Lease by so notifying Landlord in writing not later than October 10, 2000. Time is of the essence relative to Tenant's right to terminate this Lease pursuant to this Paragraph 3 and in the event that Tenant fails to deliver the notice of termination to Tenant by October 10, 2000, Tenant shall have no further right to terminate this Lease. In the event that the Building is substantially completed and a certificate of occupancy for the shell of the Building has been issued by all appropriate governmental entities, Tenant shall be entitled to take early occupancy of the Premises on or after August 15, 1999. In the event that Tenant occupies the Premises prior to the Commencement Date, all terms and conditions applicable to Tenant under this Lease shall be enforceable against Tenant, except that Tenant shall not be obligated to pay for Base Rental. If, for any reason other than Force Majeure Matters or Tenant Delay Factors, Landlord cannot deliver possession of the Premises (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) to Tenant by October 1, 1999, Landlord shall pay a per day penalty equal to two (2) days rental amount due under this Lease for each day after October 1, 1999 that the Landlord cannot deliver possession of the Premises (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications. Within five (5) days following Tenant's occupancy of the Premises, Tenant shall execute and deliver to Landlord duplicate originals of a stipulation in the form attached to this Lease as Exhibit G (with the blanks properly completed). Subject to Landlord's approval of the information inserted by Tenant in the blanks, Landlord shall execute the duplicate originals of the stipulation and shall promptly return one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises fully executed original to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. (a) The terms and provisions initial term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (the “Lease 10) years ("Term”") ---- and shall commence on the “Lease date hereof ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate ----------------- at 5:00 P.M. local time on the “Lease tenth (10th) anniversary of the Commencement Date (the "Expiration Date,” as "). ---------------
(b) Provided that term Tenant is set forth not in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes default of this Lease, Tenant shall have the option to renew this Lease for three (3) renewal terms of five (5) years each commencing upon the expiration of the initial ten (10) year Term or any previous renewal term, as the case may be, and ending at 5:00 P.M. local time five (5) years thereafter, unless any such renewal term “shall sooner terminate in accordance with this Lease Year” or otherwise; provided that (i) Tenant shall mean each consecutive twelve have notified Landlord in writing of Tenant's exercise of such renewal option not later than six (126) month months prior to the expiration of the initial Term hereof or the then existing renewal term, as the case may be, (ii) at the time such notice is given, this Lease shall be in full force and effect and Tenant shall not be in default hereunder for such period of time as would entitle Landlord to terminate this Lease pursuant to the terms hereof. Such renewal terms shall be upon all of the agreements, terms, covenants and conditions hereof except that Tenant shall pay Base Rent (hereinafter defined) to Landlord in monthly installments in an amount equal to the greater of (i) the fair market rate (the "Fair Market Rent") for the Real Property (as ---------------- defined herein) or (ii) one hundred and ten percent (110%) of the existing Base Rent on an "AS IS, WHERE IS" basis as of the commencement of the renewal term, as designated by Landlord within twenty (20) days after Landlord receives Tenant's renewal notice, but in no event greater than the rate of Base Rent in effect at the scheduled expiration of the Term or the applicable renewal term plus twenty-five percent (25%) thereof. In addition, during the Lease Termrenewal term, Tenant shall pay all other rent and other amounts due under the Lease. At any time during If Tenant does not approve of Landlord's designation of the Lease TermBase Rent for the renewal term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretothen Tenant, as a confirmation only of the information set forth thereinits sole remedy, which Tenant shall execute and return may submit in writing to Landlord within ten (10) business days after the Landlord's delivery of receipt thereof; providedits determination Fair Market Rent to Tenant (the "Renewal Commencement Date"), howeverits good faith determination ------------------------- of Fair Market Rent with appropriate back-up documentation. If the Tenant's determination of Fair Market Rent is within ten percent (10%) of the Landlord's determination of the same, the "Fair Market Rent" shall equal the median number ---------------- between each of the Tenant’s failure 's and Landlord's determination (but in no event shall the Fair Market Rent be less than the Base Rent existing on the last day of the Term plus ten percent (10%)). If the Tenant's determination of Fair Market Rent is not within ten percent (10%) of the Landlord's determination of the same, --- each of the Landlord and the Tenant shall choose an appraiser on the eleventh (11th) day after the Renewal Commencement Date to execute determine the "fair market rent" and return such notice to Landlord within such time the initial determinations shall be conclusive upon Tenant that disregarded for all purposes in determining the information set forth in such notice is as specified thereinFair Market Rent. In addition Each appraiser shall diligently attempt to agree on the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant Fair Market Rent on or before January 2, 2015 the twenty-fourth (the “Base Rent Delivery Date”), Tenant shall be entitled to one (124th) day of per diem Base Rent abatement for each day commencing on the day after the Renewal Commencement Date. If such appraisers agree on the Fair Market Rent on or before the twenty-fourth day after the Renewal Commencement Date, such agreed sum shall constitute the "Fair Market Rent". If the appraisers have not agreed on the Fair Market Rent by such day, (a) the appraisers shall select an independent third appraiser (the "Final Appraiser"), and (b) each such original --------------- appraiser shall deliver in writing to the Final Appraiser their last determination of the sum (each such sum being hereinafter referred to as the "Appraisal Price") that such appraiser believes is the Fair Market Rent. On or ---------------- before the twenty-ninth (29th) day after the Renewal Commencement Date, the Final Appraiser shall choose one Appraisal Price or the other Appraisal Price as the "Fair Market Rent". Notwithstanding anything to the contrary herein, in no ---------------- event shall the Fair Market Rent be less than the Base Rent Delivery Date and ending on in effect at the date Landlord so tenders possession last day of the Premises to TenantTerm plus ten percent (10%) thereof. Any Tenant shall have no further renewal rights after the expiration of such Base Rent Abatement renewal terms. Upon the commencement of each renewal term, (x) the renewal term shall be separate from added to and become part of the Term, (y) any reference in addition this Lease, to the "Term", the ---- "term of this Lease" or any Rent Abatement described in Section 3.2 below.similar expression shall be deemed to
Appears in 1 contract
Sources: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseFirst Commencement Date. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” be as that term is set forth in Section 3.2 7.1 of the Summary and shall commence on the date (the “First Commencement Date”) set forth in Section 7.2 of the Summary, and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.4 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 ; provided, however, that the first Lease Year shall commence on the Second Commencement Date, and the last Lease Year shall end on the Lease TermExpiration Date. This Lease shall not be void, voidable or subject to termination, nor, except as provided herein, shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord’s inability to deliver the Premises to Tenant by any particular date. Following the Second Commencement Date, Third Give-Back Date, and/or Retail Give-Back Date, Landlord may deliver to Tenant a notice of Lease Term dates in the form as set forth in Exhibit “C, ,” attached hereto, as a confirmation only of the information set forth therein, which factually correct notice Tenant shall execute and return to Landlord within ten twenty (1020) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Office Lease (KBS Real Estate Investment Trust II, Inc.)
Lease Term. The terms and provisions (a) Notwithstanding anything to the contrary contained in the Original Lease, the Term is hereby extended so as to expire on the date that is the last day of this Lease the month that is sixty (60) months after the Rent Commencement Date (the "Expiration Date").
(b) Notwithstanding the foregoing, Tenant shall have the one-time option (the "Termination Option") to terminate the entire Lease, but not any portion of the Lease. Such termination shall be effective as of the day immediately preceding the three (3) year anniversary of the Rent Commencement Date (the "Termination Date"), upon the following terms and conditions (and the failure of any of the following shall result in the Termination Option's becoming null and void with no force and effect):
(i) Tenant shall give Landlord written notice (the "Termination Notice") of Tenant's election to exercise the Termination Option on or before 5:00 p.m. Pacific Standard Time on or before the date which is four (4) months prior to the Termination Date (the "Termination Notice Date");
(ii) There shall exist no default under the Lease on the Termination Notice Date or on the Termination Date;
(iii) Tenant shall pay to Landlord, concurrently with the delivery of the Termination Notice, an amount equal to the Termination Fee (defined below). The "Termination Fee" shall mean (A) the unamortized Leasing Costs (defined below) as of the Termination Date, based upon an amortization period from the Rent Commencement Date until the Expiration Date (as the Expiration Date is amended above), with interest accruing on said unamortized Leasing Costs at nine percent (9%) per annum from the date they were paid, plus (B) Thirty-Four Thousand Seven Hundred Fourteen and 18/100 Dollars ($34,714.18). The term "Leasing Costs" shall mean the sum of (A) all costs and expenses incurred by Landlord in connection with the Relocation Improvements, and (B) any brokerage commissions paid by Landlord in connection with this Amendment. In the event Tenant timely and properly exercises the Termination Option, the term of the Lease shall terminate effective as of the Termination Date. Basic Rental and all other monetary obligations under the Lease shall be paid through and apportioned as of the Termination Date, and neither Landlord nor Tenant shall have any rights, liabilities or obligations accruing under the Lease after the Termination Date, except for such rights and liabilities which, by the terms of the Lease are obligations of the Tenant or Landlord which expressly survive the expiration of the Lease. The term Termination Option shall automatically terminate and become null and void upon (Y) the failure of this Lease Tenant to timely or properly exercise the Termination Option; or (the “Lease Term”Z) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason Tenant's right to deliver possession of the Premises being terminated prior to the exercise of the Termination Option. The rights contained in this Section 2(b) shall be personal to the original Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do sonamed in this Amendment ("Original Initials: -2- Tenant"), and such failure shall not affect any assignee, sublessee or other transferee of the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during Original Tenant's interest in the Lease Term. At any time during and may only be exercised by 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, however, Original 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Standard Office Lease (Alloy Inc)
Lease Term. 2.1 Subject to and upon the terms, provisions and conditions herein set forth, Landlord does hereby lease to Tenant and Tenant does hereby lease from Landlord the Leased Premises. The terms and provisions term of this the Lease shall be effective commence on the Commencement Date, as of determined pursuant to Section 2.2 hereof (the date of this Lease"Commencement Date"). The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable be for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 thereofyears; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time if the Commencement Date is not the first day of a month, then the term of the Lease shall be conclusive upon ten (10) years plus the partial month in which the Commencement Date occurs unless earlier terminated in accordance with the terms of this Lease (the "Lease Term"). In addition, the Lease Term shall include any and all renewals and extensions of the Lease Term.
2.2 The Commencement Date shall be the earlier of (a) the date Tenant commences occupancy of the Office Space for the operation of its business operations, or (b) the later of (i) sixty (60) days after Shell Completion Date, or (ii) one hundred twenty (120) days after the date on which Landlord acquires fee simple title to the Land and the Building pursuant to the Real Estate Contract; provided, however that in the event Tenant is unable to obtain a certificate of occupancy for the Leased Premises solely because the Property (OTHER THAN THE LEASED PREMISES) fails to comply with the Metropolitan Codes of Law of Nashville and Davidson County, Tennessee (the "Violation"), the Commencement Date shall be extended to the earlier of (A) the date that the information set forth in such notice Violation is as specified thereinremedied, or (B) the date that a waiver or variance of the Violation is obtained from the appropriate governmental authority. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of in the Premises to Tenant event the Commencement Date does not occur on or before January 21, 2015 1998 (the “Base Rent Delivery "Target Date”"), Tenant shall be entitled have the right to one terminate this Lease by providing written notice to Landlord of such termination within the ten (110) day of per diem Base Rent abatement for each day commencing on period following the day after Target Date (the Base Rent Delivery Date and ending on "Termination Period"), provided that if Tenant fails to provide such notice during the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement Termination Period, Tenant shall be separate from and deemed to have waived its right to terminate this Lease as set forth in addition to any Rent Abatement described in this Section 3.2 below2.2.
Appears in 1 contract
Lease Term. The Subject to the remaining terms of this Section 2.1, 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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) 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 month 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 the last 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; providedprovided that if said notice is not factually correct, however, Tenant’s failure then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter 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 thereinten (10) business day period. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties Such modified Notice of Lease Term Dates and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)shall not be binding unless Landlord countersigns the notice with Tenant’s changes. If Landlord 35654\12546889.9 06907\011\8493037.v6 does not so countersign the notice, Landlord and Tenant shall be entitled work together in good faith to one (1) day agree upon and mutually execute an acceptable Notice of per diem Lease Term Dates and Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowRent.
Appears in 1 contract
Sources: Lease (Penumbra Inc)
Lease Term. (a) The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease (the “Lease Initial Term”) shall commence be for a period commencing as of the Substantial Completion Date (as defined in Exhibit A attached hereto) (the “Commencement Date”) and expiring on the “Lease Commencement Date,” as that term is set forth in Section 3.2 last day of the Summary, and shall terminate on calendar month in which occurs the twentieth (20th) anniversary of the Substantial Completion Date (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is terminated sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of provided in this Lease, the term “Lease Year” shall mean each consecutive successive twelve (12) month increment thereof being sometimes referred to herein as a “Lease Year”, except that the first Lease Year shall be the period during commencing on the Commencement Date and expiring on the last day of the calendar month in which occurs the first (1st) anniversary of the Commencement Date.
(b) Tenant shall have two (2) successive five (5) year options to extend the Initial Term (each an “Option Term” and collectively, the “Option Terms”) upon the same terms and conditions then in effect, except as expressly otherwise provided herein, exercisable by the delivery of written notice to Landlord by Tenant not less than twelve (12) months prior to the expiration of the Initial Term or the then current Option Term, as the case may be,. The Initial Term and all Options Terms, if applicable, are collectively referred to as the “Lease Term. At any time ” or the “Term”.
(c) The Base Monthly Rent rate payable during an Option Term shall equal the Lease Termgreater of: (i) the annual Base Monthly Rent payable immediately prior to the commencement of such Option Term multiplied by multiplied by one hundred two and 50/100 percent (102.50%), and (ii) the then Fair Market Rent (as defined below) for the Premises.
(d) If Tenant exercises an Option Term as provided herein, Landlord may deliver to Tenant a notice in shall make the form as set forth in Exhibit C, attached hereto, as a confirmation only initial determination of the information set forth therein, which annual Fair Market Rent. Landlord shall notify Tenant in writing (the “FMR Notice”) of Landlord’s determination of the Fair Market Rent within thirty (30) days following receipt of Tenant’s renewal notice. Tenant shall execute notify Landlord in writing thirty (30) days of its receipt of Landlord’s FMR Notice whether or not it accepts Landlord’s determination of Fair Market Rent. If Tenant accepts Landlord’s determination, the Fair Market Rent shall be final and return binding and Landlord shall prepare an amendment to this Lease that amends the Base Monthly Rent to reflect the new Fair Market Rent. Tenant’s failure to respond to Landlord’s FMR Notice within the thirty (30) day period shall be deemed an acceptance by Tenant of Landlord’s determination of Fair Market Rent. If Tenant delivers written notice (“Tenant’s Rejection Notice”) to Landlord within the thirty (30) day period rejecting Landlord’s determination of Fair Market Rent, the Parties agree to negotiate their differences in good faith within thirty (30) days (the “FMR Negotiation Period”) following Landlord’s receipt of Tenant’s Rejection Notice. If the parties fail to agree on a Fair Market Rent within the FMR Negotiation Period, then the parties agree to obtain an appraisal to determine the Fair Market Rent in accordance with the terms and conditions contained below.
(e) Landlord and Tenant each shall, within ten (10) business days following the expiration of receipt thereof; providedthe FMR Negotiation Period, however, select an appraiser. Landlord’s appraiser and Tenant’s failure appraiser shall then, within ten (10) days following their appointment, designate a third appraiser. If the two appraisers cannot agree on the third appraiser within the ten (10) day period, Landlord and Tenant shall promptly make application to execute a court of competent jurisdiction seated in the county in which the Premises is located, to name the third appraiser. Each of the three appraisers shall: (i) be MAI certified by the Appraisal Institute/a member of the American Institute of Real Estate Appraisers or comparable organization; (ii) be licensed in the State of South Carolina; and return (iii) have a minimum of ten (10) years’ experience in the business of appraising or managing commercial real estate or acting as a commercial real estate broker or agent in the vicinity of Summerville, South Carolina.
(f) Within twenty (20) days after his appointment, the third appraiser acting as an expert and not as an arbitrator, shall choose either the appraised value, made by either the Landlord’s appraiser or Tenant’s appraiser and such notice to Landlord within such time choice of the third appraiser. The third appraiser shall be conclusive upon Tenant limited to awarding only one or the other of the two figures submitted by the parties’ appraisers. In any litigation between the parties in which the determination of the appraiser is at issue, the determination shall be final and binding on the parties unless the court finds that the information set forth selected appraised value is clearly erroneous.
(g) For the purposes of this Section, the term “Fair Market Rent” shall mean the rent paid by commercial tenants in such notice the vicinity of Summerville, South Carolina, taking into account: (i) the transaction is as specified therein. In addition to an “arm’s length” transaction; (ii) the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession value of the Premises to Tenant on or before January 2, 2015 (property is for the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing land and the improvements located on the day after land; and (iii) the Base Rent Delivery Date and ending on the date Landlord so tenders possession of value is determined as the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowis currently then being used.
Appears in 1 contract
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 commence on the “"Lease Commencement Date,” " as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “"Lease Expiration Date,” " as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date date, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder; provided, however, if the existing tenant fails to surrender possession of the Premises to Landlord on or before the scheduled expiration or earlier termination of the existing tenant's lease, then Landlord shall use commercially reasonable efforts to obtain possession of the Premises as soon as reasonably practical thereafter. 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 five (105) business days of receipt thereof; provided, however, Tenant’s ▇▇▇▇▇▇'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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on as a result of an existing tenant holding over in all or any specific date portion of the Premises, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder, so long as Landlord, at its expense, is promptly and diligently taking all actions reasonably necessary to cause such existing tenant to vacate such portion of the Premises, including any required legal proceeding, to secure possession of the Premises prior to “Outside Delivery Date,” as defined below, if possible, or if not possible by such date, as soon thereafter as possible. Notwithstanding the foregoing, if and to the extent that Landlord fails to deliver possession of the Premises to Tenant on or before September 1, 2017 (the “Outside Delivery Date”) for any reason, then the date set forth in Section 3.2 of the Summary (i.e., March 1, 2018) shall be delayed on a day-for-day basis for each day beyond the Outside Delivery Date that Landlord fails to so deliver the Premises to Tenant. 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 five (105) business days of receipt thereof; provided, however, . Tenant’s failure to execute and return such notice to Landlord (or to deliver to Landlord in good faith, corrective comments with respect to such notice) within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Office Lease (Airbnb, Inc.)
Lease Term. The (a) Subject to and upon the terms and provisions of conditions set forth in this Lease, this Lease shall be effective as of continue in force for the date of this Lease. The term of this Lease (the “Lease Term”. Notwithstanding the Commencement Date provided in Paragraph l(e) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, Tenant's obligation for the term “Lease Year” shall mean each consecutive twelve (12) month period during payment of rent and the Lease Term. At any time during the Lease Term, Term shall not commence until Landlord may deliver has substantially completed all work to Tenant a notice in the form be performed by Landlord as set forth in Exhibit C, the Work Letter Agreement attached hereto, 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 thereofEXHIBIT "D"; provided, however, that if Landlord shall be delayed in substantially completing said work as a result of any of the following (a "DELAY"):
(i) Tenant’s 's failure to execute furnish information in accordance herewith or to respond to any request by Landlord for any approval or information within any time period prescribed, or if no time period is prescribed, then within three Business Days of such request; or
(ii) Tenant's insistence on materials, finishes or installations other than Landlord's Building Standard after having first been informed by Landlord in writing at or before the time of delivery to Tenant of final construction pricing for Tenant's approval that such materials, finishes or installations will cause a Delay; or
(iii) Tenant's changes in any plans and return specifications; or
(iv) The performance by a person, firm or corporation employed by Tenant in the completion of any work by said person, firm or corporation (all such notice work and such persons, firms or corporations being subject to Landlord within such time shall be conclusive upon the approval of Landlord); or
(v) Any request by Tenant that Landlord delay the information set forth in such notice is as specified therein. In addition to the foregoing, subject to completion of any delays caused of Landlord's work; or
(vi) Any breach or default by Tenant or any Tenant Parties and events in the performance of Force Majeure, if Landlord fails to tender Tenant's obligations under this Lease; or
(vii) Any delay resulting from Tenant's having taken possession of the Premises prior to Tenant on or before January 2its being substantially completed, 2015 as defined below; or
(the “Base Rent Delivery Date”), Tenant shall be entitled to one (1viii) day Any reasonably necessary displacement of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession any of Landlord's work from its place in Landlord's construction schedule resulting from any of the Premises causes for Delay; or
(ix) Any other delay chargeable to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below., its agents, employees or independent contractors;
Appears in 1 contract
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the date set forth in Section 3.4 of the Summary (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, ”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Lease Commencement Date and each consecutive subsequent twelve (12) month period during the Lease Term; provided, however, if the Lease Commencement Date is other than the first (1st) day of a calendar month, “Month 1” will include the first full calendar month following the Lease Commencement Date plus any partial calendar month following the Lease Commencement Date. In the event Month 1 includes any partial calendar month, Tenant shall pay the prorated amount of Monthly Base Rent for such partial calendar month pursuant to Article 3 in addition to the Monthly Base Rent for the ninth (9th) full calendar month of the Lease Term (and to the extent that Month 1 is included as part of the Abatement Period, any such partial calendar month shall be excluded from the Abatement Period). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C2.1, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute (or provide factual correction to) and return to Landlord within ten (10) business days of receipt thereof; provided, however, but execution of such instrument shall not be a condition to Lease commencement or 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowobligations hereunder.
Appears in 1 contract
Lease Term. (A) The terms and provisions initial term of this Lease shall be effective as of five (5) years (the date of this Lease"Initial Term"). The term of the Lease shall commence on March 1, 2021 ("Commencement Date"). If Landlord permits Tenant to have occupancy of the Leased Premises prior to the Commencement Date, then Tenant's obligation to pay rent and all of Tenant's other obligations under this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 date of occupancy, but the termination date of the Summary, and term shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Buildingnot be affected. If Landlord is unable for any reason to deliver give possession of the Leased Premises to Tenant on the Commencement Date for any specific date reason, then Landlord and provided Tenant is not responsible for such delays, the rent provided hereunder shall not commence until the Leased Premises are available for occupancy or for construction of Tenant improvements, whichever shall first occur, but the termination date of the term will not be subject to any liability for its affected thereby. No such failure to do so, and such failure make the Leased Premises available on the Commencement Date shall not affect the validity of this Lease or the obligations rights of the parties hereunder, or subject Landlord to liability of any nature.
(B) Tenant hereunder. For purposes shall have two (2) options to extend the term of this Lease, the term “Lease Year” shall mean for five (5) years 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date then existing Initial Term or Renewal Term (the renewal term that will result if Tenant's option is duly exercised is hereinafter a "Renewal Term"). Tenant's option to renew and ending the Renewal Term shall be on the date following terms and conditions:
(i) Tenant may exercise its option by delivering to Landlord so tenders possession notice of its election to renew no later than six (6) months prior to the last day of the Premises then existing Initial Term or Renewal Term and if Tenant fails to Tenant. Any deliver this notice in a timely fashion, then this Lease will terminate on the last day of the then existing Initial Term or Renewal Term and Tenant will have no further right to renew or extend the term;
(ii) Tenant may exercise its option only if this Lease is in full force and effect and no default exists hereunder at the time of such Base Rent Abatement exercise; and
(iii) The Renewal Term shall be separate from on the same terms and conditions as are contained herein, except that the rent will be as set out in addition Article 3 and this subsection B. shall not grant Tenant the right to any Rent Abatement described in Section 3.2 belowrenew the term beyond the expiration of the second Renewal Term.
(C) All references to the "term" or "Term" of this Lease set out herein shall refer to the Initial Term and will include the Renewal Terms at the time Tenant's option to renew is duly exercised.
Appears in 1 contract
Sources: Lease Agreement (GolfSuites 1, Inc.)
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 5.1 of the Summary, shall commence on the “Lease Commencement Date,” date which is the later of October 1, 2000 or fifteen (15) calendar days following the earlier to occur of (i) the date Tenant opens for business in the Premises, and (ii) the date of "Substantial Completion", as that term is set forth defined in Section 3.2 this Article 2, of the SummaryPremises by Landlord ("LEASE COMMENCEMENT DATE"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 5.3 of the Summary, Summary (the "LEASE EXPIRATION DATE") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” "LEASE YEAR" shall mean each consecutive twelve (12) 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 eleventh 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. For purposes of this Lease, "SUBSTANTIAL COMPLETION" of the Premises shall occur upon the completion of construction, as reasonably determined by Landlord, of the "Tenant Improvements," as that term is defined in the Tenant Work Letter, in the Premises pursuant to the plans and drawings which are prepared pursuant to the terms of the Tenant Work Letter, with the exception of any punch list items and any tenant fixtures, work-stations, built-in furniture, or equipment to be installed by Tenant in the Premises pursuant to the terms of the Tenant Work Letter or to be installed under the supervision of "Contractor" as that term is defined in the Tenant Work Letter (the "TENANT WORK"). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit CB, attached hereto, as a confirmation only of the information set forth therein, hereto which notice Tenant shall execute and return to Landlord within ten fifteen (1015) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Office Lease (Kinzan Inc)
Lease Term. 7.1 The Lease Term begins on the date that has been recorded for this purpose in the Delivery Protocol of the Warehouse part of the Property, in the event that its delivery is carried out on a date other than the Offices part of the Property (the “Start Date”).
7.2 The Lease Term is set within the determined period of five (5) years from the Start Date.
7.3 The Lease Term shall be automatically extended for successive periods of three (3) years each until the Lease reaches a maximum duration of eleven (11) years, unless the Tenant notifies the Landlord in writing, at least six (6) months prior to the end of the term of each of the extensions, of its decision not to extend it.
7.4 For the avoidance of doubt, in the event that the Landlord does not receive the notification referred to in the previous Clause, it shall be understood that the Tenant has granted its agreement to the extension of the Agreement in the indicated terms. The duration of each extension shall be mandatory.
7.5 This Lease may only be terminated prior to the end of the Lease Term for the reasons provided for in Clause 18. This Lease may only be automatically extended in the event and in the terms established in Clause 7.3, without the tacit renewal provided for in Article 1566 of the Civil Code being applicable.
7.6 The Lease Term and provisions the term of any of the extensions that are applicable in accordance with Clause 7.3 are mandatory for both parties, so that the Tenant may not terminate the Lease prior to the end of the Lease Term or any of the extensions that are in progress. The Tenant expressly accepts that the mandatory nature of the initial Lease Term and, if applicable, of any of its extensions constitutes an essential element of this Lease shall be effective as of agreement, determining the date Landlord’s willingness to proceed with the execution of this Lease. The term Consequently, any waivers, unilateral or early termination of this Agreement by the Tenant that takes place prior to the end of the Lease Term or any of its ongoing extensions - regardless of whether it occurs under applicable law (e.g. insolvency proceedings)- shall be considered a serious breach of this Agreement and shall entitle the “Landlord to demand from the Tenant a conventional penalty consisting of an amount equal to the amount of the Rent corresponding to the Lease Term”) Term or the ongoing extension remaining to be fulfilled (plus the one that is applicable, where appropriate, pursuant to Clause 2.11 and/or 18.6). This conventional penalty has been freely agreed by the Parties and constitutes the amount in which both quantify the damages caused to the Landlord for the breach of this essential obligation to remain for the entire Lease Term and, where applicable, the extensions. The Tenant expressly accepts the proportionality of this penalty in consideration of the essential nature of the Lease Term or any of its extensions and expressly waives the right to exercise any actions aimed at the judicial moderation of the penalty or to delay or avoid its fulfillment and execution.
7.7 Notwithstanding the provisions of Clause 7.5, the Parties expressly agree that the Tenant shall commence have the power to withdraw from the Lease, which may only be exercised with effect on the “Lease Commencement Date,” as that term is set forth in Section 3.2 date on which three (3) years of the SummaryLease Term are reached, and shall terminate on by notifying the “Lease Expiration Date,” as that term is set forth in Section 3.3 Landlord with a prior notice of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during months, that is, on the date on which two (2) years of 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, however, 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 Term is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 reached (the “Base Rent Delivery DateWithdrawal Faculty”). In the event of the exercise of the Withdrawal Faculty by the Tenant, Tenant the Landlord shall be entitled to one (1) day an economic compensation for an amount equal to eight months of per diem Base the Fixed Part of the Rent abatement for each day commencing in force on the day after effective date of said withdrawal, plus the Base Rent Delivery Date and ending on the date Landlord so tenders possession total unpaid amount of the Premises Supplementary Rent Part pending payment (the “Withdrawal Compensation”), plus the corresponding Value Added Tax. For the valid exercise of the Withdrawal Faculty, the payment of the Withdrawal Compensation by the Tenant to Tenant. Any such Base Rent Abatement the Landlord shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowindispensable simultaneously with the notification of the exercise of the Withdrawal Faculty.
Appears in 1 contract
Sources: Non Residential Lease Agreement (RMG Acquisition Corp. III)
Lease Term. The terms and provisions of this Lease Term shall be effective as of mean the date of this Lease. The term of this Lease (the “Lease Term”) shall commence period beginning on the “Lease above referenced Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate ending on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive Termination Date (an approximately twelve (12) month period term). Landlord shall exercise a good faith effort with respect to delivering possession of the Residence to Tenant on the Commencement Date. In the event Landlord does not deliver possession of the Residence to Tenant on the Commencement Date, but ▇▇▇▇▇▇▇▇ does deliver possession within (45) days after the Commencement Date, then Rent shall be abated on a daily basis during the Lease Termperiod of delay. At Landlord shall not be liable to Tenant for any time during the Lease Term, losses or damages related to such failure to timely deliver possession. If Landlord may cannot deliver to Tenant a the Residence by the first day of the Lease Term because another resident holds over, or for any other reason, Landlord shall not be liable to Tenant or Tenant’s Guarantor for damages, but Tenant will not be required to pay any Rent until the Residence is available. If Landlord is not able to deliver possession to Tenant within forty five (45) calendar days following the Commencement Date, Tenant may, as its sole remedy, cancel the Lease by written notice to Landlord, in which case ▇▇▇▇▇▇’s security deposit will be refunded and Tenant shall have no further liability hereunder. It is expressly understood that this Lease is for the Lease Term regardless of whether ▇▇▇▇▇▇ takes occupancy, is transferred, ceases to be enrolled at any school in the form as set forth in Exhibit Carea, attached hereto, as is no longer a confirmation only resident of the information set forth thereinarea or, which Tenant shall execute and return for any other reason, is unable to Landlord within ten (10) business days of receipt thereof; provided, howevercontinue occupying the Residence. Accordingly, Tenant’s failure obligation to execute pay Rent hereunder (and return such notice the Guarantor(s) obligation to ensure payment of the same) shall continue for the entire Lease Term and until all sums due to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified thereinfull. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.546495.1 015821-0002
Appears in 1 contract
Sources: Rental Agreement
Lease Term. The terms and provisions of this Lease term shall be effective as of commence upon the date of this Lease. The term Substantial Completion of this Lease Landlord's Work (the “Lease Term”as said phrase is defined below) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 and delivery of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date ("Commencement Date") and end seven (7) calendar years thereafter ("Lease Term") , then Landlord shall not be subject unless terminated sooner pursuant to any liability for its failure to do so, and such failure shall not affect the validity other provisions of this Agreement or unless extended pursuant to this Section 1.02. The scheduled commencement date ("Scheduled Commencement Date") of the Lease or Term is MARCH 15, 1997. If the obligations of Tenant hereunder. For purposes of this LeaseLandlord's Work is Substantially Completed before the Scheduled Commencement Date, the term “Lease Year” Term shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver commence upon Substantial Completion and Landlord's delivery to Tenant of possession thereof. Within five calendar days after the Commencement Date, the parties shall each execute and deliver a notice commencement date certificate ("Commencement Date Certificate") in the form attached as set forth EXHIBIT "B" of this Agreement. The term "Lease Term" as used in Exhibit Cthis Agreement, attached heretoincludes any extension as defined in this Section 1.02, as a confirmation only provided the right to perform such extension is exercised. shall include such five (5) year extension and all of the information set forth therein, which Tenant provisions of this Agreement shall execute continue to be in full force and return to Landlord within ten (10) business days effect until the conclusion of receipt thereof; provided, however, 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 thereinextended Lease Term. In addition to the foregoing, in the event one of the parties hereto makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is subject to any delays caused by Tenant bankruptcy proceedings, is adjudged bankrupt or any Tenant Parties and events insolvent in proceedings filed against it, a receiver, trustee or custodian is appointed for all or substantially all of Force Majeureits assets, if Landlord fails to tender possession pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any act of bankruptcy or insolvency, including the Premises selling of its assets to Tenant on or before January 2pay creditors, 2015 the other party hereto may terminate the Lease Term and this Agreement by means of prior written notice without any liability to either party (the “Base Rent Delivery Date”), Tenant shall be entitled except for obligations accrued in favor of one party prior to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowtermination).
Appears in 1 contract
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 commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 : September 1, 1996 or Substantial Completion of the SummaryPremises, whichever occurs later. Landlord and Tenant shall terminate mutually agree upon a schedule (the "Lease and Construction Schedule") which details the dates on which all necessary lease and construction documents will be completed so as to permit Landlord to substantially complete the “Premises for Tenant's occupancy by the Lease Expiration Commencement Date,” . The Lease and Construction Schedule is attached to the lease as that term is set forth in Section 3.3 Exhibit F. Landlord shall make a good faith effort to make approximately 6,000 to 8,000 rentable square feet of the SummaryPremises (the "Early Occupancy Space") available for Tenant's occupancy by August 15, unless this Lease is sooner terminated as hereinafter provided1996. Tenant hereby acknowledges that the Premises are currently The Early Occupancy Space may be occupied by another tenant Tenant with a temporary occupancy permit (to the extent such occupancy is allowed by the local jurisdiction) and such occupancy will not be considered a tender of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord for purposes of establishing the Lease Commencement Date. Any such early occupancy shall not be subject to any liability for its failure to do soall of the terms, covenants and such failure shall not affect the validity conditions of this Lease or except for the obligations payment of Tenant hereunderRent and additional rent. For purposes of this Lease, In no event shall the term “Lease Year” shall mean each consecutive twelve lease commence until the Leasehold Improvements (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 defined in Exhibit C), attached heretowith the exception of minor punch list items and Tenant approved long lead items, are substantially completed in accordance with Tenant's Plan (as defined in Exhibit C), and Landlord has obtained a confirmation only certificate occupancy or certificate of temporary occupancy. Landlord shall give Tenant thirty (30) days prior written notice of the information approximate date of substantial completion. Lease Expiration Date: Eighty - Four (84) months after Lease Commencement Date. In the event the Lease Commencement Date is a date other than the first day of a calendar month, the Lease Term shall run for the number of months set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that above from the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession first day of the Premises to Tenant on or before January 2, 2015 (calendar month following the “Base Rent Delivery Lease Commencement Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Lease (Ace Comm Corp)
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 five (105) business days of receipt thereof; provided, however, 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. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January February 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) June 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Sources: Lease (CytomX Therapeutics, Inc.)
Lease Term. The terms and provisions of this This Lease shall be effective remain in force for a Primary Term of Five (5) years from day of 2012, and for as long thereafter as prescribed payments are made, or operations are conducted on the Leasehold in search of production of oil, gas, or their constituents, or for as long as a well capable of production is located on the Leasehold or on lands unitized or combined with the Leasehold, or for as long as extended by other provisions herein. If, after the primary term, the last producing well on the Leasehold or on lands unitized or combined with the Leasehold is plugged and abandoned, the Leasehold will remain under lease for an additional period of one year from the date of this Lease. The plugging and abandonment, If Lessee’s operations are delayed, postponed or interrupted as a result of any coal, stone or other mining related operation under any existing and effective lease, permit or authorization covering such operations on the leased premises or on other lands affecting the leased premises, such delay will automatically extend the primary or secondary term of this Lease (oil and gas lease without additional compensation or performance by Lessee for a period of time equal to any such delay, postponement or interruption. There is no covenant to develop the “Lease Term”) Leasehold within a certain time frame, and there shall commence be no leasehold forfeiture for implied covenants to produce. Provisions herein constitute full compensation for privileges herein granted. No well shall be drilled on the “Lease Commencement Date,” as that term leased premises, nor shall Lessee enter upon or install any installation of any nature whatsoever on the leased premises. This lease is set forth in Section 3.2 being granted for the sole purpose of permitting Lessee to unitize the leased premises with other leases or properties which shall bear all the burden of surface development. Lessor understands and gives consent that, due to directional or horizontal drilling originating from surface entry on a parcel not owned by Lessor, the wellbore may pass through or terminate below the surface of the Summary, leased premises. Lessee may surrender and shall terminate on the “Lease Expiration Date,” cancel this lease as that term is set forth in Section 3.3 to all or any part of the SummaryLeasehold by recording a Surrender of Lease and if partially surrendered, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied any payments by another tenant of the Building. If Landlord is unable Lessee provided for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, however, Tenant’s failure to execute and return such notice to Landlord within such time PAYMENT clause shall be conclusive upon Tenant that the information set forth reduced in such notice is as specified therein. In addition proportion to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowacreage surrendered.
Appears in 1 contract
Sources: Non Surface Oil and Gas Lease
Lease Term. The (a) Subject to and upon the terms and provisions of conditions set forth in this Lease, this Lease shall be effective as of continue in force for the date of this Lease. The term of this Lease (the “Lease Term”. Notwithstanding the Commencement Date provided in Paragraph l(e) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, Tenant's obligation for the term “Lease Year” shall mean each consecutive twelve (12) month period during payment of rent and the Lease Term. At any time during the Lease Term, Term shall not commence until Landlord may deliver has substantially completed all work to Tenant a notice in the form be performed by Landlord as set forth in Exhibit C, the Work Letter Agreement attached hereto, 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 thereofEXHIBIT "D"; provided, however, that if Landlord shall be delayed in substantially completing said work as a result of any of the following (a "DELAY"): EXHIBIT 10.6
(i) Tenant’s 's failure to execute furnish information in accordance herewith or to respond to any request by Landlord for any approval or information within any time period prescribed, or if no time period is prescribed, then within three Business Days of such request; or
(ii) Tenant's insistence on materials, finishes or installations other than Landlord's Building Standard after having first been informed by Landlord in writing at or before the time of delivery to Tenant of final construction pricing for Tenant's approval that such materials, finishes or installations will cause a Delay; or
(iii) Tenant's changes in any plans and return specifications; or
(iv) The performance by a person, firm or corporation employed by Tenant in the completion of any work by said person, firm or corporation (all such notice work and such persons, firms or corporations being subject to Landlord within such time shall be conclusive upon the approval of Landlord); or
(v) Any request by Tenant that Landlord delay the information set forth in such notice is as specified therein. In addition to the foregoing, subject to completion of any delays caused of Landlord's work; or
(vi) Any breach or default by Tenant or any Tenant Parties and events in the performance of Force Majeure, if Landlord fails to tender Tenant's obligations under this Lease; or
(vii) Any delay resulting from Tenant's having taken possession of the Premises prior to Tenant on or before January 2its being substantially completed, 2015 as defined below; or
(the “Base Rent Delivery Date”), Tenant shall be entitled to one (1viii) day Any reasonably necessary displacement of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession any of Landlord's work from its place in Landlord's construction schedule resulting from any of the Premises causes for Delay; or
(ix) Any other delay chargeable to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below., its agents, employees or independent contractors;
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (Lease, referred to as the “Lease "Term”) ", shall commence on the “Lease date Tenant occupies the Premises referred to as the "Commencement Date,” " and end on the date which is 62 months following the later of (a) February 1, 1997 or (b) the date that is 45 days after the date on which Landlord delivers the Premises to Tenant in accordance with this Section 1.1, referred to as the "Expiration Date", unless sooner terminated or extended as provided in this Lease. Tenant's obligation to pay Minimum Rent shall commence on the later of (a) February 1, 1997 or (b) on the date which is 45 days after the day on which Landlord's Work is completed and Tenant's occupancy commences. Landlord shall improve the Premises for Tenant's occupancy in accordance with the plans described in Schedule 1.1 (the "Plans"). Landlord and Tenant agree that term is set forth the Plans have been reviewed and accepted by Landlord and Tenant. Promptly following execution of this Lease by Landlord and Tenant Landlord, through contractors employed by Landlord for such purpose, shall commence the improvements in Section 3.2 of accordance with the SummaryPlans (such work, "Landlord's Work") and shall terminate on the “Lease Expiration Date,” proceed diligently so as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges to complete Landlord's Work such that the Premises are currently may be occupied by another tenant Tenant for the conduct of business on or before December 20, 1996, subject to completion of "punchlist items". All work performed by Landlord shall be performed in a good and workmanlike manner and in accordance with all building, safety and other governmental and quasi-governmental laws, codes, ordinances and regulations applicable thereto. If said improvements and changes as agreed between Landlord and Tenant are not completed by March 1, 1997, this Lease may be terminated at the sole discretion of the BuildingTenant by written notice to Landlord at any time after March 1, 1997 while such failure persists. 2 If Landlord is unable for any reason fails to deliver possession of the Premises either (a) because a certificate of occupancy has not been procured, (b) due to delays caused by Tenant on or (c) because a previous occupant is holding over, or (c) because of any specific date other cause or reason beyond the reasonable control of Landlord, then Landlord the following provisions shall apply (provided the Lease shall not be subject to any liability for its failure to do so, and such failure have been terminated by Tenant): (i) the Term shall not affect commence on the date set forth above but shall, instead, commence on a date fixed by Landlord in a notice to Tenant, which notice shall state that the Premises is, or prior to the commencement date fixed in such notice will be, completed and ready for occupancy by Tenant; (ii) the Term shall end on a date (the ''Expiration Date'') which shall be the last day of the sixty second (62nd) month after the Term shall have commenced, unless sooner terminated as hereinafter provided; (iii) neither the validity of this Lease or nor the obligations of Tenant hereunder. For purposes of under this LeaseLease shall be affected by such failure to deliver possession, except that the term “Lease Year” Term shall mean each consecutive twelve begin and end as provided in clauses (12i) 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 and (ii) aforesaid; and (iv) Tenant shall execute and return to have no claim against Landlord within ten (10) business days because of receipt thereof; provided, however, Tenant’s Landlord'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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender deliver possession of the Premises on the date originally fixed therefor. None of the foregoing shall be construed so as to Tenant limit Tenant's right to terminate this Lease in the event Landlord's Work is not completed and the Premises delivered on or before January 2March 1, 2015 (the “Base Rent Delivery Date”), 1997. Tenant shall be have, as appurtenant to the Premises, the right to use, in common with others entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date thereto, elevators, driveways, walkways, parking areas, loading docks and ending on the date Landlord so tenders possession of other common areas and common facilities serving the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowand/or the Building or Land.
Appears in 1 contract
Lease Term. The terms (a) Tenant shall have and provisions hold the Premises for a term (“Term”) commencing on the Commencement Date set forth above and shall terminate at midnight on the last day (the “Expiration Date”) of this Lease shall be effective the one hundred twentieth (120th) full calendar month following the Commencement Date, unless sooner terminated or extended as hereinafter provided.
(b) Following the Commencement Date and thereafter during the Term (excluding any holdover period), so long as, both as of the exercise date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” and as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” first day of each Extended Term (as that term is set forth in Section 3.3 of the Summary, unless hereinafter defined) this Lease is sooner terminated as hereinafter provided. in full force and effect and no default has occurred and then still continues beyond the expiration of any applicable notice and cure period and no facts or circumstances then exist which, with the giving of notice or the passage of time, or both, would constitute a default (in which event Landlord agrees that Tenant shall have a notice and cure period within which to cure such an event equivalent to the notice and cure period, if any, that would be afforded to Tenant under this Lease had such event ripened into a default hereunder), Landlord hereby acknowledges that grants to Tenant two (2) options to extend the Premises are currently occupied by another tenant of the Building. If Landlord is unable for Term with respect to all but not any reason to deliver possession lesser portion of the Premises for successive periods of five (5) years each (each “Extended Term”), beginning immediately upon the expiration of the Term for the first Extended Term and beginning immediately upon the expiration of the first Extended Term for the second Extended Term, such options to be exercised by Tenant on any specific date , then giving written notice of its exercise to Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect in the validity of manner provided in this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive at least twelve months (12) month period during months prior, but not more than fifteen (15) months prior, to the Lease expiration of the Term for the first Extended Term and the expiration of the first Extended Term for the second Extended Term. At any time during Time is of the Lease essence with respect to the foregoing. Tenant may not exercise the option for the second Extended Term unless it exercised the option for the first Extended Term.
(c) If Tenant exercises an option to extend the Term, Landlord may deliver to shall, within thirty (30) days after the receipt of Tenant’s notice of exercise, notify Tenant a notice in writing of Landlord’s reasonable determination of the Base Rent for the Premises for the applicable Extended Term, which amount shall be one hundred percent (100%) of the rate for base minimum rental then announced by landlords and tenants in comparable leases of comparable size in comparable buildings (including, the Building) in the form market of metropolitan Atlanta, Georgia during the applicable Extended Term, taking into account all relevant factors (including, but not limited to, size of space, location of space within the building, signage rights, age, location and quality of building, length of term, credit standing of tenant, tenant improvement contributions, leasing commissions and rent concessions), and calculated on a per square foot basis.
(d) Except for the Base Rent, which shall be determined as set forth in Exhibit Csubparagraph C above, attached hereto, as a confirmation only leasing of the information Premises by Tenant for the applicable Extended Term shall be subject to all of the same terms and conditions set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofin this Lease; provided, however, that rent abatements (other than any abatements under Article 26 or Article 28 hereunder) or other concessions applicable to the Premises during any prior period shall not be applicable during any Extended Term (unless otherwise mutually acceptable to both Landlord and Tenant in the sole discretion of each at the time Tenant exercises its option(s) to extend). Landlord and Tenant shall enter into an amendment to this Lease to evidence Tenant’s failure to execute and return such notice exercise of the applicable extension option. If this Lease is guaranteed now or at any time in the future, Tenant simultaneously shall deliver to Landlord within such time shall be conclusive upon Tenant that the information set forth an original, signed reaffirmation of each guarantor’s guaranty, in such notice is as specified therein. In addition form and substance acceptable to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLandlord.
Appears in 1 contract
Lease Term. The terms and provisions term ("Term") of this Lease shall be effective as of the date of is stated above in 2 (e), and subject to Tenant's 365-Day and 180-Day Termination Option provided for in this Lease. The term of this Lease (the “Lease Term”) Section 4.1, shall commence on the “Lease Scheduled Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, Date unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant not "Ready for Occupancy" as hereinafter defined, on the Scheduled Commencement Date, in which case the commencement and termination dates of the BuildingLease shall be adjusted accordingly based on the date the Premises are Ready for Occupancy. If Landlord is unable for Excepting Tenant's 365-Day Termination Option and 180-Day Termination Option as they are defined in this Section 4.1, the deferral of Tenant's rental obligation with respect to the Premises shall be in full satisfaction of any reason to deliver possession and all rights which Tenant might otherwise have as a result of the Premises to Tenant on any specific delayed commencement date , then Landlord shall not be subject to any liability of the Lease Term hereof. "Ready for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” Occupancy" as used herein shall mean each consecutive twelve (12) month period during the Lease Term. At any time during date that landlord shall have substantially completed the Lease Term, work to be performed by Landlord may deliver to Tenant a notice in the form as set forth in Exhibit "C, attached hereto", as certified to by Landlord's architect, and a confirmation only Certificate of Occupancy has been issued by the City of Hillsboro, but in no event earlier than July 1, 1998. The date the Premises are Ready for Occupancy shall be the "Commencement Date" of this Lease. If the commencement of the information Lease Term is delayed as aforesaid and the Commencement Date would otherwise occur on a day other than the first day of the month, such Commencement Date shall be further delayed until the first day of the following month and Tenant shall pay proportionate Rent at the same monthly rate set forth thereinherein (also in advance) for such partial month. In the event the Commencement Date is delayed, which the expiration of the Term hereof shall also be delayed so that the Lease Term will continue for the full period set forth above. As soon as the Lease Term commences, Landlord and Tenant shall execute an amendment to this Lease, which may be required by either party, setting forth the exact "Commencement Date" and return expiration date of the Lease Term. Subject to Landlord within ten force majeure (10as defined in Section 4.5 of this Lease) business days and Tenant Delay (as defined in Exhibit "C" of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeurethis Lease), if Landlord fails to tender possession have the Premises Ready for Occupancy within 180 days from the Scheduled Commencement Date specified in Section 2(f) of this Lease, then Tenant shall have the option (exercisable within the thirty (30) day period after the 180th day or such later day determined by operation of the Premises force majeure or Tenant Delay following the Scheduled Commencement Date) to terminate this Lease ("180-Day Termination Option"). Subject to Tenant on or before January 2Delay, 2015 (if Landlord fails to have the “Base Rent Delivery Premises Ready for Occupancy within 365 days from and after the Scheduled Commencement Date”), then Tenant shall have the option (exercisable in writing within the thirty (30) day period after the 365th day following the Scheduled Commencement Date) to terminate this Lease ("365-Day Termination Option"). Excepting the 365-Day and 180-Day Termination Options, this Lease shall not be terminable by Tenant, and Tenant shall in no event be entitled to one (1) day an abatement or reduction of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described except as expressly set forth in Section 3.2 below12.3 or Section 13.1.
Appears in 1 contract
Lease Term. The This Lease Term (the “Term”) is for 38 months, and shall commence on Sixty days from the execution of this Lease document by both parties (“Commencement Date”), and shall expire (unless sooner terminated or extended as herein provided) at noon 38 sixty months from the “Commencement Date. (“Expiration Date”). In the event Landlord shall permit Tenant to take possession of the Premises prior to the Commencement Date referenced above, all the terms and provisions conditions of this Lease shall be effective as apply. It is acknowledged and agreed by both parties that rent shall begin 60 days after the commencement of the date of this Lease. The term of this Lease (Tenant shall have the “Lease Term”) shall commence right to store and or install a computer system in the conference room area as noted on Exhibit B, prior to the “Lease Commencement Date,” as that term is set forth in Section 3.2 commencement of the SummaryLease, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summarybut not before August 10, unless this Lease is sooner terminated as hereinafter provided1999, with no rent charged to Tenant. Tenant hereby acknowledges that assumes all responsibility for the Premises are currently occupied by another tenant computer system and waives any and all claims against Landlord for damages which may occur to the system. Further, Tenant must provide Landlord a certificate of Insurance prior to installing the Buildingsaid equipment on or after August 10, 1999. If Landlord is unable Landlord, for any reason to whatsoever, cannot deliver possession of the Premises to Tenant on any specific date the Commencement Date, then Landlord this Lease shall not be subject to any liability for its failure to do sovoid or voidable, no obligation of Tenant shall be affected thereby, and neither Landlord no [ILLEGIBLE] gents shall be liable to Tenant for any loss or damage resulting from the delay in delivery of possession [ILLEGIBLE] however, that in such failure shall not affect event, the validity of this Lease or the obligations of Tenant hereunder. For purposes Commencement Date and Expiration Date of this Lease, and all other [ILLEGIBLE] may be affected by their change, shall be revised to conform to the date of Landlord’s delivery of possession to Tenant. The above, however, is subject to the provision that the period permitted for the delay of delivery of possession of the Premises shall not exceed ninety (90) days after the Commencement Date set forth in the first sentence of this Section 3.1 (except that those delays beyond Landlord’s control, including, without limitation, those encompassed in the meaning of the term “Lease Year” force majeure”, or caused by Tenant (the “Delays”) shall mean each consecutive twelve (12) month period during the Lease Termbe excluded in calculating such period). At any time during the Lease Term, If Landlord may does not deliver possession to Tenant a within such period, then Tenant may terminate this Lease by written notice in to Landlord; provided, that written notice shall be ineffective if given after Tenant takes possession of any part of the form Premises, or if given more than one hundred (100) days after the original Commencement Date plus the time of any Delays. Unless expressly otherwise provided herein, Rent (as hereinafter defined) shall commence on the earlier of: (i) the Commencement Date; (ii) occupancy of the Premises by Tenant; (iii) the date Landlord has the Premises ready for occupancy by Tenant, as such date is adjusted under the Workletter, if any, attached hereto; or (iv) the date Landlord could have had the Premises ready had there been no Delays attributable to Tenant. Unless the context otherwise so requires, the term “Rent” as used herein includes both Base Rent and Additional Rent as set forth in Exhibit C, attached heretoSection 4.1. If the Expiration Date, as determined herein, does not occur on the last day of a confirmation only calendar month, then Landlord, at its option, may extend the Term by the number of days necessary to cause the Expiration Date to occur on the last day of the information set forth therein, which last calendar month of the Term. Tenant shall execute pay Base Rent and return Additional Rent for such additional days at the same rate payable for the portion of the last calendar month immediately preceding such extension. The Commencement Date, Term (including any extension by Landlord pursuant to Landlord within ten (10this Section 3.1) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall Expiration Date may be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 a commencement letter (the “Base Rent Delivery DateCommencement Letter”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date prepared by Landlord and ending on the date Landlord so tenders possession of the Premises to executed by Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Net Lease (TopBuild Corp)
Lease Term. The terms and provisions of this Lease term shall be effective as of commence upon the date of this Lease. The term Substantial Completion of this Lease Landlord's Work (the “Lease Term”as said phrase is defined below) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 and delivery of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date ("Commencement Date") and end seven (7) calendar years thereafter ("Lease Term"), then Landlord shall not be subject unless terminated sooner pursuant to any liability for its failure to do so, and such failure shall not affect the validity other provisions of this Lease or unless extended pursuant to the obligations relevant Section of Tenant hereunderthe Agreement. For purposes The scheduled commencement date ("Scheduled Commencement Date") of this Leasethe Lease Term is November 15th, 1998. If the Landlord's Work is Substantially Completed before the Scheduled Commencement Date, the term “Lease Year” Term shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver commence upon Substantial Completion and Landlord's delivery to Tenant of possession thereof. Within five calendar days after the Commencement Date, the parties shall each execute and deliver a notice commencement date certificate ("Commencement Date Certificate") in the form attached as set forth EXHIBIT B to the Lease and forming a part hereof. The term "Lease Term" as used in Exhibit Cthis Agreement, attached heretoincludes any extension established in this section, as a confirmation only provided the right to perform such extension is exercised. Notwithstanding the above and provided Tenant is in compliance with all of the information set forth thereinits obligations under this Agreement, which Tenant shall execute and return have the right to Landlord within ten extend the Lease Term for two additional terms of seven (107) business days years each, by means of receipt thereof; provided, however, Tenant’s failure to execute and return such prior written notice to Landlord within such time shall be conclusive upon Tenant that with at least ninety (90) days in advance of the information set forth in such notice is as specified thereindate of termination of the initial or subsequent seven (7) year Lease Term. In addition to the foregoing, in the event one of the parties hereto makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is subject to any delays caused by Tenant bankruptcy proceedings, is adjudged bankrupt or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 insolvent (the “Base Rent Delivery Date”Suspension de Pagos), Tenant shall be entitled in proceedings filed against it, a receiver, trustee or custodian is appointed for all or substantially all of its assets, fails generally to pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any act of bankruptcy or insolvency, including the selling of its assets to pay creditors, the other party hereto may terminate the Lease Term and this Agreement by means of prior written notice without any liability to either party (except for obligations accrued in favor of one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on party prior to the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowtermination).
Appears in 1 contract
Sources: Lease Agreement (International Manufacturing Services Inc)
Lease Term. 6.1. The terms and provisions Lessee may not shorten the Lease Term or terminate the Lease Agreement prior to the end of this the Lease Term.
6.2. At the conclusion of the Lease Term, the Lease Term shall be effective as of automatically extended for the date of this Lease. The term of this Lease (the “Additional Lease Term”) shall commence on the “Lease Commencement Date,” , as that term is it may be (three years or one year), as set forth in Section 3.2 Appendix A, all unless the Lessee provides the Lessor with at least 120 days’ written notice prior to the end of the SummaryLease Term of its desire not to extend the Lease Term for the Additional Lease Term (hereinafter, “Notice of Non-Exercise”). If no such Notice of Non-Exercise is given, the Lessee shall be deemed to have exercised the Additional Lease Term.
6.2.1. Quarterly post-dated checks and/or a valid bank debit order ("standing order") for the payment of the Base Rent and shall terminate on advanced payments of the “management fees for the Additional Lease Expiration Date,” Term in the amount the Base Rent and advance payments of the management fees were determined to be during the Additional Lease Term, as that term is set forth stated hereinbelow, plus linkage differentials and VAT;
6.2.2. Completion of the cash deposit amount as stated in Section 3.3 20.1.1 below;
6.2.3. Certificate of insurance in accordance with this Agreement, including for the Summary, unless this relevant Additional Lease is sooner terminated as hereinafter providedTerm. Tenant hereby acknowledges that The foregoing shall be no later than thirty days prior to the Premises are currently occupied by another tenant end of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At In the event the Lessee fails to provide any time during of the foregoing by no later than 30 days before the end of the Lease Term, Landlord this shall be deemed a fundamental breach of the Agreement. For the avoidance of doubt, the foregoing will not preclude the Lessee from exercising its right to extend the Lease Term for an Additional Lease Term, except if it fails to remedy the breach and does not produce the documents required, as stated above, within 7 days of receiving written notice from the Lessor.
6.3. Without derogating from the Lessee’s rights and remedies under this Agreement and applicable law, the Lessor may deliver provide the Lessee written notice 30 days prior to Tenant a notice in the form end of the Lease Term of the cancellation of the Additional Lease Term as set forth in Exhibit CAppendix A, attached heretoif the following condition is met:
6.3.1. The Lessee breaches any of its fundamental undertakings toward the Lessor and fails to remedy them within 7 days of receiving written notice;
6.4. To the extent the Lease Term is so extended, as a confirmation only all the provisions of this Agreement shall also apply to the relevant Additional Lease Term.
6.5. Notwithstanding the provisions of Section 6.4, in each of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after Additional Lease Terms the Base Rent Delivery Date and ending on shall be increased as follows: The Base Rent in the date Landlord so tenders possession first quarter of the Premises to Tenant. Any such Base Rent Abatement relevant Additional Lease Term shall be separate from equal to that in the last quarter of the preceding Lease Term (including linkage differentials) plus the percentage provided in Appendix A.
6.6. Notwithstanding anything stated in this Agreement and/or its appendices, the Lessor may early terminate the Lease Agreement upon 6 (six) months’ prior written notice if a lawful final and peremptory demand is issued by an authority which effectively precludes the use of the Leased Premises in addition accordance with the Lease Purpose. In such case, the Lessee will not have any claim and/or demand against the Lessor for the shortening of the Lease Term with the exception of the Lessee’s right to any Rent Abatement described in Section 3.2 “eviction compensation" as defined below.
Appears in 1 contract
Sources: Lease Agreement (Outbrain Inc.)
Lease Term. (a) The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease (the “Lease "Initial Term”") ---------- shall commence be for ninety eight (98) years, commencing on the “Lease date hereof (the "Commencement Date,” as that term is set forth in Section 3.2 ") and automatically terminating without further notice or demand on the expiration of the Summaryninety eighth (98th) anniversary of the Commencement Date; provided, and that this Lease shall terminate on the “Lease Expiration Date,” as such earlier date that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that acquires fee simple title to the Premises are currently occupied as provided in the SPA.
(b) Provided that no Event of Default has occurred which remains uncured by another tenant of Tenant, Tenant shall have the Building. If Landlord is unable for any reason right and option to deliver possession of extend the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity Term of this Lease or for an unlimited number of successive terms of Ninety Eight (98) years each (each an "Extension Term") (the obligations of Tenant hereunder. For purposes of this LeaseInitial Term and any Extension Term, as applicable, are collectively referred to as the term “Lease Year” shall mean each consecutive twelve (12) month period during "Term"), upon the Lease same terms and conditions applying to the Initial 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 exercise such option to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such extend the Term by providing written notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to no less than one (1) day of per diem Base Rent abatement for each day commencing on year prior to the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession expiration of the Premises Initial Term or the then current Extension Term, as applicable. Notwithstanding the foregoing, the parties desire to avoid the inadvertent failure of Tenant of exercising the option to extend the Term. Accordingly, Landlord agrees that, if Tenant does not give written notice to Landlord of its election to exercise the extension option prior to the notice deadline set forth above, such option to extend shall remain in effect until the later of one year prior to the expiration of the Initial Term or the then current Extension Term, as applicable, or the expiration of thirty (30) days following Tenant. Any 's receipt of written notice from Landlord stating that Tenant's option to extend must be exercised or will lapse; provided, further, that Landlord may provide such Base Rent Abatement reminder notice at any time within three (3) years prior to the scheduled expiration of the Initial Term or the then current Extension Term, as the case may be.
(c) Notwithstanding anything contained herein to the contrary, in the event any of the Extension Term rights granted under this Lease shall be separate from unlawful or void for violation of (a) the rule against perpetuities or some analogous common law or statutory provision, (b) the rules restricting restraints on alienation, or (c) any other statutory or common law rule imposing time limits, then Landlord and Tenant acknowledge and agree that any such rights or provisions contained in addition this Lease shall be amended, modified, or changed so as to comply with any Rent Abatement described in Section 3.2 belowsuch common law or statutory provision(s), including, but not limiting to modifying the term of this Lease to the period calculated by the death of President ▇▇▇▇▇▇ ▇. ▇▇▇▇ plus twenty (20) years.
Appears in 1 contract
Sources: Ground Lease Agreement (Geo Specialty Chemicals Inc)
Lease Term. The terms and provisions of this Lease shall be effective as (a) Landlord, in consideration of the date of this Lease. The term of this Lease (rent to be paid and the “Lease Term”) shall commence other covenants and agreements to be performed by Tenant and upon the terms hereinafter stated, does hereby lease, demise and let unto Tenant the Premises, as defined herein and generally outlined on the “Lease Commencement Date,” floor plan attached hereto as that term is set forth in Section 3.2 of the SummaryExhibit A, and Tenant shall terminate have access and use of all common areas and amenities serving the Building, commencing on the “Lease Expiration Date,” as that term is set forth in Section 3.3 Commencement Date and ending, without the necessity of notice from either party to the Summaryother, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that such notice being expressly waived, on the Premises are currently occupied by another tenant last day of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, unless sooner terminated as herein provided.
(b) If the 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails unable to tender possession of the Premises on the anticipated Commencement Date, the Landlord shall not be liable for any damage caused thereby, nor shall this Lease be void or voidable by Tenant; but in such event, unless the delay results (i) from failure of Tenant to provide plans or otherwise perform in accordance with the requirements of the Lease or (ii) from any delay in Landlord's ability to tender possession of the Premises caused by Tenant, no rental shall be payable by Tenant prior to actual tender to Tenant on of possession of the Premises and the date of Substantial Completion. Notwithstanding the foregoing, and provided that any delay in substantially completing the Premises is not attributable to (i) any Tenant delay detailed in Section 7, (ii) the requirements of any Special Tenant Work as defined in Section 7(d), or before January 2(iii) the contingencies in the force majeure provisions of ------------- Section 31, 2015 then, if the Premises are not Substantially Complete within one hundred eighty days (180) of the “Base Rent Delivery anticipated Commencement Date”), Tenant shall have the right to terminate this Lease, by delivering written notice to Landlord not later than one hundred ninety (190) days after the anticipated Commencement Date.
(c) By accepting possession of the Premises as of the Commencement Date, Tenant shall be entitled deemed to one have accepted the same as suitable for the purpose herein intended and to have acknowledged that the Premises comply fully with Landlord's obligations, with the exception of any "punch list" type items in the Tenant Plans which may not have been completed (1or completed properly). Tenant agrees that its failure to deliver to Landlord such a written "punch list" within three (3) day business days after the Commencement Date shall be conclusive proof that no such items exist, except items not reasonably apparent upon a visual inspection of per diem Base Rent abatement for each day commencing on the Premises. Notwithstanding the foregoing, Tenant shall be permitted to enter the Premises not more than two (2) weeks prior to the anticipated Commencement Date to install telephone lines, equipment, computer lines and to move in furniture; provided, however, that (i) Landlord shall designate the day or days on which Tenant may so enter the Premises, (ii) Tenant shall not interfere with the buildout of the Premises, (iii) all waiver and indemnity provisions of this Lease (including, but not limited to, those contained in Section 12) shall apply to such early entry, and (iv) all property placed in the Premises by Tenant shall remain there at Tenant's sole risk. Within three (3) business days after the Base Rent Delivery Date Commencement Date, Tenant agrees to execute and ending on the date return to Landlord so tenders possession a letter prepared by Landlord confirming such date, a copy of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.which is attached hereto as Exhibit B.
Appears in 1 contract
Sources: Lease Agreement (Averstar Inc)
Lease Term. Commencement Date: July 3, 2009 provided that Tenant has complied with all applicable provisions of the Full Building Lease including, without limitation, timely payment to Landlord of the Termination Fee equal to One Million Nine Hundred Thousand and No/100 Dollars ($1,900,000.00) (the “Commencement Date”). If the conditions in the immediately preceding sentence have not been met as of July 3, 2009, the Commencement Date shall be that day immediately following the Cancellation Date, as such term is used and defined in the Full Building Lease. Effective upon payment of the Termination Fee, the Full Building Lease shall be deemed terminated as provided in that certain Lease Termination Agreement by and between Landlord and Tenant dated as of the same date as this Lease. Expiration Date: The terms last day of the sixtieth (60th) full calendar month following the month in which the Commencement Date occurs (the “Expiration Date”), subject to the provisions of Paragraph 26.1. The period of time commencing on the Commencement Date and expiring on the original Expiration Date as set forth above shall be known as the “Initial Term”. Number of Full Calendar Months: Approximately sixty (60); if the Commencement Date does not occur on the first day of a month, the Lease Term shall include that portion of the month in which the Commencement Date occurs which follows the Commencement Date (the “First Partial Month”). Early Lease Period: The period of the Lease Term commencing on the Commencement Date and continuing through ninety (90) days thereafter, during which Early Lease Period the provisions of Paragraph 3.2 of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth control over any conflicting provisions in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowotherwise.
Appears in 1 contract
Sources: Office Lease (Nautilus, Inc.)
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 commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 1.1.7 of the SummarySummary (the "Commencement Date"), (subject, however, to the terms of Section 5 of the Work Letter attached hereto as Exhibit 2), and shall terminate expire on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 1.1.8 of the Summary, Summary (the "Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Buildingprovided in this Lease. If Landlord is shall be unable for any reason to deliver possession of the Premises to Tenant on or before the anticipated Commencement Date set forth in Section 1.1.7 of the Summary for any specific date reason whatsoever (including holding over by an existing tenant or occupant of the Premises), then Landlord shall not be subject to any liability for its the failure to do so, and so nor shall such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, Following the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease TermCommencement Date, Landlord may shall deliver to Tenant a notice in the form Confirmation of Lease Term Dates attached hereto as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein5, which Confirmation of Lease Term Dates Tenant shall execute and --------- return to Landlord within ten five (105) business days of after receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of event the Premises to Tenant Commencement Date shall not have occurred on or before January 2June 1, 2015 (the “Base Rent Delivery Date”)2000, Tenant shall have the right to terminate this Lease by giving written notice of termination ("Termination Notice") to Landlord on or before June 10, 2000. In the event Tenant exercises the termination right in the preceding sentence, this Lease shall terminate unless the Commencement Date shall have occurred on or before July 1, 2000 in which event the Termination Notice shall be entitled deemed null and void. In the event this Lease shall terminate, Landlord shall return the Security Deposit or the Letter of Credit (as hereinafter defined) delivered by Tenant to one (1) day of per diem Landlord and Monthly Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession first full calendar month of the Premises Lease Term paid pursuant to Tenant. Any such Base Rent Abatement Paragraph 3 below, whereupon neither party shall be separate from and in addition to have any Rent Abatement described in Section 3.2 belowfurther rights, obligations or liabilities under this Lease, except for any obligations or liabilities that expressly survive termination.
Appears in 1 contract
Sources: Office Space Lease (Noosh Inc)
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”Term described in Section 1(f) shall commence on the “Lease Commencement Date,” as that term is Date set forth in Section 3.2 of the Summary, 1(g) and shall unless otherwise extended or terminated as herein provided terminate on the “Lease Expiration Date,” as that term is Date set forth in Section 3.3 1(h) without the necessity of notice from either Landlord or Tenant, and Tenant shall surrender possession and vacate the Summary, unless this Lease is sooner terminated as hereinafter providedLeased Premises on the Expiration Date. Tenant hereby acknowledges waives. notice to vacate or quit the Leased Premises and agrees that Landlord shall be entitled to the Premises are currently occupied by another tenant benefit of all provisions of law respecting the summary recovery of the BuildingLeased Premises from a tenant holding over to the same extent as if statutory notice had been given. If Landlord is unable for any reason to deliver Tenant takes possession of the Leased Premises after the "Improvements" (as defined in Section 43 of Rider attached hereto and made a part hereof) have been substantially completed" (as defined in Section 43 of the Rider hereto) and prior to the Commencement Date then (i) the Lease Term shall commence as of the date that Tenant take possession of the Leased Premises, (ii) notwithstanding the provisions of Section 4, Annual Fixed Rent and Additional Rent shall be payable in advance on any specific a prorated per diem basis for the period from the date that Tenant takes possession to the Commencement Date, and (iii) such taking of possession prior to the Commencement Date shall not affect the Expiration Date. Tenant's access to construct the Improvements shall not be construed to mean Tenant's possession of the Leased Premises. If (i) the Improvements are not "substantially completed" on the Commencement Date, or (ii) the Leased Premises are not ready for Tenant's occupancy on the Commencement Date by reason of force majeure (defined below), then Landlord shall not be subject to any liability to Tenant by reason of such delay and (a) the Lease Term and the obligation to pay Rent shall commence on the date that the Improvements are "substantially completed", or the date that the Leased Premises are otherwise ready for its Tenant's occupancy, (b) the duration of the Lease Term, as set forth in Section 1(f), shall not be affected thereby, and the Expiration Date set forth in Section 1(h) shall be adjusted accordingly to cover the entire duration of the Lease Term, and (c) such failure to do so, and such failure give possession shall not affect the validity of this Lease or any of the obligations and covenants of Tenant hereunderhereunder as used in this paragraph, force majeure means fires, windstorm, earthquake, war, or acts of God. For purposes Force majeure shall not include strikes or any other labor disturbance. Notwithstanding the foregoing, if the Improvements are not "substantially completed" on the Commencement Date for any reason other than by reason of force majeure, then the Lease Term shall commence on the Commencement Date and the Annual Fixed Rent, Additional Rent and all other charges payable by Tenant hereunder shall commence to accrue on the Commencement Date as if the delay had not occurred. Regardless of force majeure or any other reason, if the Improvements are not "substantially completed" by December 31, 1994, then the Lease Term shall commence on December 31, 1994, and the Annual Fixed Rent, Additional Rent and all other charges payable by Tenant hereunder shall commence to accrue on December 31, 1994. If, pursuant to the provisions of this LeaseSection 3, the term “Lease Year” shall mean each consecutive twelve Term commences on a date other than the Commencement Date, then, within forty-five (1245) month period during days after the date that the actual commencement date of the Lease Term. At any time during the Lease TermTerm has been established, Landlord may deliver to and Tenant shall execute a notice Confirmation of Lease Term in the form attached hereto and made a part hereof as set forth in Exhibit "C, attached hereto, as a confirmation only of the information set forth therein, which ". Tenant shall execute notify Landlord in writing, within thirty (30) days after the Commencement Date, of any defects in the Improvements (and return 120 days with respect to latent defects), and Landlord within ten (10) business days shall, upon receipt of receipt thereof; providedsuch notice, however, Tenant’s failure promptly take reasonable action necessary to execute and return correct any such defect. Except for any defects identified in a written notice from Tenant to Landlord within such time thirty (30) day (and 120 days with respect to latent defects), it shall be conclusive upon Tenant presumed that all work in connection with the information set forth Improvements theretofore performed by or on behalf of Landlord was satisfactorily performed in such notice is as specified therein. In addition accordance with the provisions of this Lease; provided that, to the foregoing, subject extent that Landlord receives or obtains warranties or guarantees from its contractor selected by Landlord to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of make the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement "Improvements" described in Section 3.2 below43 or from the manufacturers of any equipment or fixtures to be provided by Landlord as part of the Improvements, which warranties or guarantees extend beyond said thirty (30) day period, Landlord shall use reasonable efforts to enforce such warranties and guaranties or, at Landlord's option, assign some or all of same to Tenant, if Tenant gives Landlord timely notice of a defect or malfunction covered by such guaranties or warranties.
Appears in 1 contract
Lease Term. The terms and provisions Term of this Lease shall be effective for the period designated in Subparagraph 1(g) commencing on the Rent Commencement Date, and ending on the Expiration Date, unless the term hereby demised shall be sooner terminated as herein provided (the "Term"). Notwithstanding the foregoing, if the Rent Commencement Date falls on any day other than the first day of a calendar month then the Basic Rent and NNN Charges shall be prorated based on the number of days for the applicable month using the Basic Rent and NNN Charges for the first month of the date of this Lease. The term Term as set forth herein, and the Term of this Lease (shall be measured from the “Lease Term”) first day of the month following the month in which the Rent Commencement Date occurs. Landlord and Tenant shall commence on promptly execute Exhibit D to confirm the “Lease Commencement Date,” as , the Delivery Date, the Rent Commencement Date and the Expiration Date and other matters. Notwithstanding the fact that term is the Rent Commencement Date has yet to occur, Landlord agrees to permit Tenant to enter the Premises during the construction of the same (a) for the Wynright Access pursuant to Paragraph 6 of the Work Letter and (b) upon the Delivery Date in order for Tenant to commence the installation of its equipment, trade fixtures and personal property and commence the operation of its business. Such entry shall be subject to all of the conditions set forth in Section 3.2 of this paragraph below. Such early entry is conditioned upon Tenant and its contractors, employees, agents and invitees (collectively, "Tenant Construction Parties") working in harmony and not materially interfering with Landlord and its contractors. In the Summaryevent Landlord provides Tenant with notice (written or verbal) that Tenant Construction Parties are materially interfering with Landlord and its contractors, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 Tenant fails to cease such material interference within two (2) days following receipt of the Summary, unless this Lease is sooner terminated as hereinafter provided. such notice from Landlord (such two (2) days of interference being deemed a Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable Delay for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For all 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, then Landlord may deliver terminate such early entry. Tenant agrees that any such early entry is subject to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only all of the information set forth thereinterms and conditions of this Lease, except for those relating to the payment of Basic Rent, NNN Charges and any additional rent and other recurring monetary obligations which have a specific commencement time, which Tenant shall execute and return to Landlord within ten (10) business days provisions will become applicable in accordance with the terms of receipt thereofthis Lease; provided, however, Tenant’s failure to execute Tenant shall pay for utilities 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. In addition janitorial/trash services provided to the foregoing, subject to any delays caused by Tenant or any Tenant Parties Premises from and events of Force Majeure, if Landlord fails to tender possession of after the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. The terms and provisions Lease Term is scheduled to expire on August 27, 2015. The Lease Term is hereby extended for a period of this Lease shall be effective nine (9) months, to expire on May 31, 2016 (“New Expiration Date”), subject to earlier termination as described in the Lease. Notwithstanding anything to the contrary contained in Section 34 of the date of this Lease. The term of this Original Lease (the “Lease Term”titled HOLDING OVER) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 or any other provision of the SummaryExisting Lease, and Tenant shall terminate on not have the “Lease Expiration Date,” as that term is set forth in Section 3.3 right to hold over after the expiration or earlier termination of the SummaryLease for any reason, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that without the Premises are currently occupied future express written consent given by another tenant of the BuildingLandlord, which consent may be withheld by Landlord in its sole and absolute discretion. If Landlord is unable for Tenant or anyone claiming through Tenant remains in possession of any reason to deliver possession portion of the Premises beyond the expiration or sooner termination of the Lease as to Tenant on any specific date such space, then or fails to surrender such space upon such expiration or earlier termination to Landlord shall not be subject to any liability for its failure to do soin the condition required by the Lease, and such hold over or failure shall not affect constitute a renewal or extension of the validity of this Lease or a month-to-month tenancy, but instead a tenancy at sufferance. If Tenant fails to vacate and surrender the obligations Premises to Landlord in the condition required by the Lease at the expiration or sooner termination of Tenant hereunder. For purposes of this the Lease, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all claims, demands, losses, liabilities, judgments, costs and expenses (including attorney’s fees) which Landlord may incur as a result of such hold over and failure to surrender, including without limitation all lost rents, lost profits and lost or delayed business opportunities (including without limitation those relating to any delay or prevention in Landlord’s ability to redevelop all or any portion of the project of which the Premises is a part), and Landlord shall be entitled to all other rights and remedies available to a landlord against a tenant wrongfully holding over after the termination of the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Termof a lease without Landlord’s consent. At any time during Tenant acknowledges and agrees that it has no further right to extend or renew the Lease Term, Landlord may deliver to Tenant a notice and that the Option described in the form as set forth in Exhibit C, attached hereto, as a confirmation only Section 37 of the information set forth therein, which Tenant shall execute Original Lease (titled OPTION TO EXTEND THE LEASE TERM) is hereby deleted and return to Landlord within ten (10) business days of receipt thereof; provided, however, 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 thereinof no further force or effect. In addition All of Landlord’s rights and remedies under this Section 3 are cumulative and not alternative to the foregoingextent permitted by law, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and are in addition to any Rent Abatement described all other rights and remedies available in Section 3.2 belowlaw and in equity.
Appears in 1 contract
Sources: Lease Agreement (Xenoport Inc)
Lease Term. The terms (a) Tenant shall have and hold the Premises for the term ("Term") identified in the Basic Lease Provisions commencing on the date (the "Commencement Date") which is thirty (30) days after the date on which Landlord notifies Tenant that the Work in the Premises is substantially complete (or is deemed substantially complete pursuant to Paragraph 4(b) of Exhibit "B") and the Building Systems are in good working order as required by Section 19 of this Lease (the "Ready Date"), and shall terminate at midnight on the last day of the Term (the "Expiration Date"), unless sooner terminated or extended as hereinafter provided. Promptly following the Commencement Date, Landlord and Tenant shall enter into a letter agreement in the form attached hereto as Exhibit "C", specifying and/or confirming the Commencement Date and the Expiration Date (and the number of rentable square feet contained within the Premises and the amount of Base Rent payable hereunder, if such numbers as finally determined differ from those set forth in the Basic Lease Provisions).
(b) Landlord shall permit Tenant and Tenant's agents and contractors to enter the Premises on and after the Ready Date, in order to permit Tenant to prepare the Premises for Tenant's occupancy (such entry prior to the Commencement Date referred to herein as the "Early Entry Period". If Landlord permits such entry prior to completion of the Work, then such permission is conditioned upon Tenant and Tenant's agents, contractors, workmen, mechanics, suppliers, and invitees working in harmony and not interfering with Landlord and Landlord's contractors in doing the Work. If at any time such entry shall cause or threaten to cause such interference, Landlord shall have the right to withdraw such permission upon twenty-four (24) hours' oral or written notice to Tenant. Tenant agrees that any such entry into the Premises shall be deemed to be under all of the terms, covenants, conditions, and provisions of this Lease (including, without limitation, all insurance requirements), except as to the covenant to pay Rent hereunder, and further agrees that Landlord shall not be liable in any way for any injury, loss, or damage which may occur to any items of work constructed by Tenant or to other property of Tenant that may be placed in the Premises prior to completion of the Work, the same being at Tenant's sole risk, except and only to the extent caused by Landlord's own negligence or willful misconduct.
(i) Landlord grants to Tenant one option to extend the Term (the "Extension Option") for a period of five (5) years (the "Extension Period"). Tenant's privilege to exercise the Extension Option is expressly conditioned upon Tenant not being in default (following the expiration of all applicable notice and cure provisions) at the time the Extension Option is exercised and not being in default (following the expiration of all applicable notice and cure provisions) between the time the Extension Option is exercised and the start of the Extension Period.
(ii) Tenant shall have the right to exercise the Extension Option by giving written notice (the "Extension Notice") to Landlord no later than nine (9) months and no earlier than twelve (12) months prior to the Expiration Date of the Term. All terms and conditions of this Lease shall continue during the Extension Period, provided that during each Extension Period, the Base Rent shall be effective ninety-five percent (95%) of the Fair Market Rent as of the date of (the "Rent Determination Date") that is nine (9) months preceding the Expiration Date (such Base Rent for the Extension Period being deemed "Renewal Rent").
(iii) As used in this Lease, Fair Market Rent shall mean the effective rental rates then being obtained by tenants in the marketplace for comparable buildings and premises. The effective rental rates shall include consideration of the presence or absence of tenant improvements or allowances existing or to be provided under the lease for such premises, rental abatements, lease takeovers/assumptions, moving expenses and other forms of rental concessions, real estate brokerage commissions, proposed term of this Lease lease, extent of service provided or to be provided under the lease for such premises, the time the particular rate under consideration became or is to become effective and any other relevant terms or conditions.
(iv) In the “Lease Term”event of an exercise of an option by Tenant, Landlord shall notify Tenant of Landlord's determination of the Renewal Rent within thirty (30) shall commence days of the Rent Determination Date and if Landlord and Tenant cannot agree on the “Lease Commencement Date,” Renewal Rent within thirty (30) days thereafter, the Renewal Rent payable during the Extension Period shall be conclusively determined as that term is follows:
(A) Within ten (10) days after the expiration of the thirty (30) day period, each party, at its cost and by giving notice to the other party, shall appoint an unaffiliated MAI designated real estate appraiser with at least five (5) years' full-time commercial appraisal experience in the general vicinity of the Premises (an "Appraiser"), to appraise and determine the then Fair Market Rent as described in this Section.
(B) If one party does not appoint an Appraiser within the time period in Section 2(c)(iv)(A) above, the Appraiser appointed by the other party shall be the sole Appraiser and shall determine the Fair Market Rent.
(C) If neither party appoints an Appraiser within the time period set forth in Section 3.2 of 2(c)(iv)(A), the Summary, and Base Rent during the Extension Period shall terminate on be the “Lease Base Rent payable in the last full month immediately preceding the Expiration Date,” as that term is set forth .
(D) If the two (2) Appraisers are so appointed by the parties, they shall meet promptly and attempt to appraise and determine the Fair Market Rent. If they are unable to agree within thirty (30) days after the second Appraiser has been appointed, they shall attempt to select a third Appraiser who meets the qualifications stated in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (122(c)(iv)(A) 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 after the last day the two Appraisers are given to determine the Fair Market Rent. If they are unable to agree on a third Appraiser, either of receipt thereof; providedthe parties to this Lease, by giving ten (10) days' notice to the other party, can apply to the President of the Alameda County Real Estate Board or the presiding judge of the Superior Court for Alameda County for the selection of a third Appraiser who meets the qualifications stated in Section 2(c)(iv)(A). Each of the parties shall bear one-half (1/2) of the cost of appointing the third Appraiser and of the third Appraiser's fees. The third Appraiser, however selected, shall be a person who has not previously acted in any capacity for either party or is not or has not been affiliated with the other appointed Appraisers.
(E) Within thirty (30) days after the selection of the third Appraiser, a majority of the Appraisers shall appraise and determine the Fair Market Rent. If a majority of the Appraisers are unable to so set the Fair Market Rent within the required period of time, the appraisals of the three Appraisers shall be added together and their total divided by three. The resulting quotient shall be the Fair Market Rent.
(F) If, however, Tenant’s failure to execute and return such notice to Landlord within such time the low appraisal or the high appraisal are more than ten percent (10%) lower or higher than the middle appraisal, the low appraisal or the high appraisal shall be conclusive upon Tenant disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total divided by two. The resulting quotient shall be the Fair Market Rent. If two appraisals are disregarded, the remaining appraisal shall be the Fair Market Rent.
(d) Except in connection with an assignment which is to an Altigen Affiliate (as that term is hereinafter defined), the information set forth in such notice Extension Option is as specified thereinnot assignable by Tenant, and any attempted assignment shall be void. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force MajeureAdditionally, if Landlord fails to tender possession subleases (excluding Permitted Transfers) covering more than twenty-five percent (25%) of the Premises to Tenant on or before January 2exist at the time of exercise of the Extension Option, 2015 (the “Base Rent Delivery Date”), Tenant such exercise shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date no force and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 beloweffect.
Appears in 1 contract
Sources: Industrial Lease Agreement (Altigen Communications Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this the Lease (the “Lease Term”) shall commence on the “earlier of (a) the Lease Commencement Date,” as that term is Date set forth in Section 3.2 Paragraph 1 (g), as may be extended as hereinafter set forth, or (b) the date on which Tenant occupies the Premises. The Lease shall continue until the expiration of a period equal of the Summary, and shall terminate Lease Duration after the end of the month in which the Lease Term commences (except that if the Lease Term commences on the “first day of a month, the Lease Expiration Date,” as that term is set forth in Section 3.3 Term shall end after the expiration of a period equal to the Lease Duration after such commencement). The fractional month, if any, between the commencement of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that Term and the Premises are currently occupied by another tenant end of the Buildingmonth in which the Lease Term begins is called the "Fractional Month". If Landlord is unable for any reason to deliver possession of the Premises to the Tenant on any specific date by the Lease Commencement Date because of the retention of possession thereof by a prior occupant, then or the inability of Landlord to complete the preparation of the Premises for the Tenant, this Lease shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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; providedterminate, however, Tenant’s failure to execute and return such notice to Landlord within such time the Lease Commencement Date shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition extended to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if date on which Landlord fails to tender delivers possession of the Premises to the Tenant. For each day's delay in the delivery of possession to Tenant, Landlord shall give Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled two day's credit against rental payments. If Landlord fails to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders deliver possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.the Tenant within THIRTY (30) DAYS following the Lease Commencement Date, the Tenant may immediately terminate this Lease
Appears in 1 contract
Lease Term. The terms Landlord and provisions of this Tenant acknowledge and agree that the Lease Term is scheduled to expire on June 30, 2015 (the "Current Lease Expiration Date"). Notwithstanding the foregoing or any provision to the contrary contained in the Lease, Landlord and Tenant hereby agree to extend the Lease Term to expire (unless sooner terminated as provided in the Lease, as amended) on August 31, 2024 (such new expiration date shall be effective referred to herein as the "New Lease Expiration Date"). The period of the date of this Lease Term applying to the Current Premises commencing on July 1, 2015 (the "New Current Premises Commencement Date") and expiring (unless sooner terminated as provided in the Lease, as hereby amended) on the New Lease Expiration Date shall be referred to herein as the "New Current Premises Term". The term of this Lease Tenant's lease of ▇▇▇▇▇ ▇▇▇▇ (the “Lease Term”▇▇▇ "▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇") shall commence on the “Lease Suite 100A Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate expire (unless sooner terminated as provided in the Lease, as hereby amended) on the “New Lease Expiration Date,” as that . The term is set forth in Section 3.3 of Tenant's lease of Suite 230 (the Summary, "Suite 230 Term") shall commence on the Suite 230 Commencement Date and shall expire (unless this Lease is sooner terminated as hereinafter providedprovided in the Lease, as hereby amended) on the New Lease Expiration Date. Tenant The term of Tenant's lease of Suite 300 (the "Suite 300 Term") shall commence on the Suite 300 Commencement Date and shall expire (unless sooner terminated as provided in the Lease, as hereby acknowledges that amended) on the Premises are currently occupied by another tenant of the BuildingNew Lease Expiration Date. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date The ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, then Landlord shall not be subject to any liability for its failure to do so▇▇▇▇▇ ▇▇▇ Term, and such failure Suite 300 Term shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease sometimes be referred to herein individually as an "Expansion Term". At any time during the Lease Term, Landlord may deliver to Tenant a notice or notices in the form as set forth in Exhibit C, attached hereto, (which notice or notices may also include updated Base Rent schedules), as a confirmation only of the information set forth thereintherein with respect to any Expansion Term (or Base Rent payable through the New Lease Expiration Date), which which, provided such information is correct, Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 which, if accurate, Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided. If Tenant fails to respond to such notice within such 5-day period, however, Landlord may send a written “reminder notice”. Tenant's failure to respond to such reminder notice within three (3) business days shall be deemed Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant agreement that the information set forth in such notice is as specified therein. In addition to For the foregoing, subject to avoidance of any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)doubt, Tenant shall not be entitled deemed to one (1) day have failed to respond to, and shall not be bound by the information set forth in, a proposed confirmation of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession lease commencement if Tenant shall timely notify Landlord, in writing, that Tenant disputes any or all of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowinformation set forth therein.
Appears in 1 contract
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, however, 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. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the 2nd and 3rd floor portions of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January September 15, 2023, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) on or before December 15, 2015 (the “Base Rent Delivery Date”)2023, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, delays due to utility companies that are not the result of any action or inaction of Landlord, actual or threatened public health emergency (including, without limitation, epidemic, pandemic, famine, disease, plague, quarantine, and other significant public health risk), governmental edicts, actions, declarations or quarantines by a governmental entity or health organization (including, without limitation, any shelter-in-place orders, stay at home orders or any restrictions on travel related thereto that preclude Tenant, its agents, contractors or its employees from accessing the Premises, national or regional emergency) (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Sources: Lease (Graphite Bio, Inc.)
Lease Term. (a) The terms and provisions of this Lease shall be effective as Term begins on the earliest to occur of: (1) the date Tenant occupies any part of the date of this Lease. The term of this Lease Leased Premises; (2) the “Lease Term”Commencement Date; or (3) shall commence the Ready for Occupancy Date (defined below); and ends on the “Expiration Date. Notwithstanding the foregoing, if the Ready for Occupancy Date occurs before May 22, 1998, then the Lease Commencement Date,” as that term is set forth in Section 3.2 Term shall begin on the earlier of (i) the date Tenant occupies any part of the SummaryLease Premises or May 25, 1998, and if the Ready for Occupancy Date occurs on or after May 25, 1998 and before July 3, 1998, then the Lease Term shall terminate begin on the “Lease Expiration Date,” as that term is set forth in Section 3.3 earlier of (i) the date Tenant occupies any part of the SummaryLease Premises, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that or (ii) July 3, 1998.
(b) Subject to Paragraph 3(c) below, if the Premises are currently occupied Ready for Occupancy Date does not occur by another tenant of the Building. If Landlord is unable Commencement Date for any reason to deliver possession of the Premises to other than omission, delay, or default by any Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, howeverParty, Tenant’s failure 's obligation to execute pay Rent does not commence until the Ready For Occupancy Date occurs and return such notice to Landlord within such the Expiration Date is extended for a period of time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition equal to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing time period beginning on the day after the Base Rent Delivery Commencement Date and ending on the day before the Ready for Occupancy Date. This abatement of Rent is Tenant's sole and exclusive remedy and is full settlement of all claims that Tenant has against Landlord by reason of the Leased Premises not being ready for occupancy by Tenant on the Commencement Date.
(c) If Tenant occupies any part of the Leased Premises before the Commencement Date or the Ready for Occupancy Date, as applicable, the Lease Term and Tenant's obligation to pay Rent commence on the date Landlord so tenders Tenant occupies the Leased Premises and the Expiration Date is 126 months after the date on which Tenant's occupancy commences. Tenant is deemed to OCCUPY the Leased Premises when Tenant takes possession of any part of the Leased Premises for any purpose, including placing furniture and installing Tenant's equipment in the Leased Premises.
(d) When the first day of the Lease Term is established pursuant to Tenant. Any such Base Rent Abatement this Para▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ ▇▇▇ll prepare and Landlord and Tenant shall be separate from and exchange a letter acknowledging that date and, if the Expiration Date changes under this Paragraph, the Expiration Date.
(e) The READY FOR OCCUPANCY DATE is the earlier to occur of:
(1) the date that Landlord notifies Tenant that the City of Dallas has approved the Leased Premises for occupancy; or
(2) the date the City of Dallas would have approved the Leased Premises for occupancy but for delays caused by any Tenant Party; provided, if Landlord performs any Additional Work (defined in addition to any Rent Abatement described EXHIBIT F), the Ready for Occupancy Date is deemed accelerated by the number of days in Section 3.2 belowthe Additional Work Period (defined in EXHIBIT F).
Appears in 1 contract
Sources: Office Lease (Penson Worldwide Inc)
Lease Term. 6.1 The terms Lease Term under this Agreement is as detailed in the Special Conditions Appendix, starting at the Delivery Date of Possession in the Leased Premises and ending at the date stipulated in the Special Conditions Appendix (hereinafter: the "First Lease Term").
6.2 If the Lessee has been given (in the Special Conditions Appendix) the right to extend the Lease, the Lessee may lease the Leased Premises for another Lease Term or Additional Lease Terms (in this Agreement: the "Additional Lease Term" or "Additional Lease Terms"), all as detailed in the Special Conditions Appendix. The Additional Lease Term, if any, shall start with the conclusion of the First Lease Term and any Additional Lease Term, if any, will start with the end of the previous Lease Term, provided that under no circumstances will the number of Lease Terms under this Agreement exceed 24 years and 11 months.
6.3 The extension of the Lease Term after the end of the First Lease Term or after the end of any Additional Lease Term is conditional upon the fulfillment of all the following accumulative conditions:
6.3.1 The Lessee has given the Lessor prior notice of at least six months before the start of any Additional Lease Term, regarding its desire to extend the Lease Term.
6.3.2 Up until the start of the Additional Lease Term, the Lessee has complied with all its obligations under this Agreement and has not fundamentally or repeatedly breached the Agreement. Fundamental breaches which have been amended within the times as stipulated in Section 27 below will be deemed as being the fulfillment of the obligations by the Lessee.
6.3.3 No legal or arbitration proceedings have been held and/or are ongoing between the Lessee and the Lessor and/or any other company related to the Lessor and/or the Management Company, related to allegations of a fundamental breach of this Agreement. Notwithstanding the above said, if a legal proceeding is ongoing due to an alleged breach of the Agreement by the Lessor, then it is agreed that these proceedings will not prevent the extension of the Lease Term.
6.3.4 The Lessee will provide the Lessor, by no later than two months before the start of the Additional Lease Term, with all the approvals and documents needed for the extending of the validity of all securities given by it to the Lessor under the provisions of this Lease shall be effective as Agreement.
6.4 Where all the conditions for the extension of the Lease for the Additional Lease Term have not been fulfilled, the Lessor may, but is not obligated, not allow the Lessee to extend the Lease Term, subject to the filing of prior notice of five months before the termination date of the Lease Term, and this Leaseis without derogating from any remedy and/or right of the Lessor, and in such a case the Lessee must vacate the Leased Premises at the time of the conclusion of the Lease Term and before the start of the Additional Lease Term, in accordance with the provisions of this Agreement. Should the Lessee exercise its right under Appendix A of the Agreement, to terminate this Agreement after the first 5 years' lease, then without derogating from the Lessee's obligation to vacate the Leased Premises at the end of the Agreement, as stated, the Lessee will be obligated to pay the Lessor, at the date set for the vacating of the Leased Premises, as stated above, liquidated damages as detailed in Appendix A of this Agreement, for the Lessor's participation in the payment for the Adaptation Works executed in the Leased Premises. The term Lessor may collect this amount from any guarantee held by it.
6.5 For the avoidance of doubt, it is clarified that all the above said in the matter of the extension of the Lease Term for an Additional Lease Term or for Additional Lease Terms, is subject to that stipulated in the Special Conditions Appendix. In any event where it is not expressly stated in the Special Conditions Appendix that the Lessee is entitled to an extension of the Lease Term, or Additional Lease Terms and their conditions have not been specified, then the above said provisions shall not apply for the extension of the Lease Term and the Lessee will not be entitled to extend the Lease Term, for all intents and purposes, without the prior written consent of the Lessor.
6.6 Where the Agreement has been extended for an Additional Lease Term and/or Additional Lease Terms, all the provisions of this Agreement will apply to these Lease (Terms, mutatis mutandis, save for the “Lessee's right to extend the Lease Term”) shall commence on Agreement beyond the “Additional Lease Commencement Date,” as Terms.
6.7 Without derogating from the provisions of Section 27.3A and of that term is set forth stated in Section 3.2 6 in Appendix A of the SummaryAgreement, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall Lessee will not be subject entitled to any liability for its failure terminate the Lease and/or to do so, and such failure shall not affect vacate the validity Leased Premises before the end of this Lease or the obligations of Tenant hereunder. 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 If, notwithstanding the above said, the Lessee vacates the Leased Premises before the end of the Lease Term, Landlord may deliver the Lessee will be obligated for all payments applicable to Tenant a notice in it under this Agreement, until the form as set forth in Exhibit C, attached hereto, as a confirmation only end of the information set forth thereinLease Term, which Tenant shall execute and return unless the Leased Premises is leased out to Landlord within ten (10) business days of receipt thereof; provided, however, 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. In addition an alternative tenant pursuant to the foregoingprovisions of Section 22 below. The above said shall not prejudice the Lessor's rights under this Agreement and/or in accordance with the law, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails instruct the Lessee to tender possession vacate the Leased Premises before the end of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLease Term.
Appears in 1 contract
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 commence on the date that Landlord achieves Substantial Completion of the Base Building Work and Substantial Completion of the Leasehold Improvement Work (as such terms are defined in the Construction Addendum) (the “Lease Term Commencement Date,” as that term is set forth in Section 3.2 of the Summary”), and shall terminate continue for a period of one hundred eighty (180) calendar months following the Base Rent Commencement Date (as hereinafter defined), plus any partial days in the month in which the Base Rent Commencement Date falls (if not on the “Lease Expiration Date,” as that term is set forth in Section 3.3 first of the Summarymonth), unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges so that the Premises are currently occupied by another tenant expiration date of the BuildingTerm will be the last day of a month. If Landlord is unable for any reason Notwithstanding the foregoing, Tenant shall have no right to deliver possession of the Premises until Tenant has provided Landlord with a certificate of insurance evidencing the insurance coverages that Tenant is obligated to maintain pursuant to this Lease. Landlord and Tenant shall execute a Memorandum of Lease Commencement substantially in form and substance as Exhibit “C,” attached hereto and made a part hereof establishing the Term Commencement Date and the Base Rent Commencement Date as soon as such dates have been determined in accordance with this Lease. The period of time from the first (1st) day of the first (1st) full month after the month in which the Term Commencement Date occurs (or the Term Commencement Date itself, if it occurs on any specific date , then Landlord shall not be subject the first day of the month) to any liability for its failure to do sothe last day of the twelfth (12th) calendar month thereafter, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive successive twelve (12) month period during the Lease Term. At any time during the Lease Termthereafter, Landlord may deliver is referred to Tenant a notice in the form as set forth in Exhibit C, attached hereto, herein 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery DateLease Year.”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Lease Agreement (Office Depot Inc)
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 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Work Letter), and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 , provided that the last Lease Year shall end on the Lease TermExpiration Date. Landlord shall make possession of the Premises available to Tenant no later than ten (10) business days after the date of the full execution and delivery of this Lease by Landlord and Tenant and upon Tenant’s satisfaction of its obligations in Section 10.3.6 regarding delivery of certificates of insurance and Tenant’s payment of the first month’s Base Rent and the Security Deposit (collectively, the “Delivery Conditions”). In the event the Delivery Conditions are satisfied but Landlord does not make possession of the Premises available to Tenant on or before the expiration of such ten (10) business day period, then Tenant shall have the right to terminate this Lease by providing Landlord with written notice of such termination at anytime prior to Landlord making possession of the Premises available to Tenant with such termination to be effective upon Landlord’s receipt of such termination notice. Upon such termination of this Lease, Landlord may shall return the Security Deposit and any pre-paid Base Rent to Tenant and the parties shall be released from all obligations under this Lease except for those obligations which expressly survive the expiration or sooner termination of this Lease. Upon the occurrence of the Lease Commencement Date set forth in Section 7.2 of the Summary, within a reasonable period of time after the date Tenant takes possession of the Premises, Landlord shall deliver to Tenant a notice an amendment to lease in the form attached hereto as set forth in Exhibit C, attached heretosetting forth the Lease Commencement Date and the Lease Expiration Date, as a confirmation only of the information set forth therein, which and Tenant shall execute and return such amendment to Landlord within ten (10) business days of receipt thereof; provided, however, after Tenant’s failure receipt thereof (provided that if said notice is not factually correct, then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 ten (the “Base Rent Delivery Date”10) business day period), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Office Lease (Legalzoom Com Inc)
Lease Term. a. Tenant shall have and hold the Leased Premises for a term of
b. Provided that no Event of Default (as hereinafter defined) has occurred and is continuing, Tenant shall have the option to extend the Initial Term of this Lease for ( ) periods of years each (each such , a "Renewal Term"; collectively, the "Renewal Terms"; the Initial Term and any and all exercised Renewal Terms are hereinafter collectively referred to as the "Term"). The term "Expiration Date" as used in this Lease shall mean the last day of the Initial Term or, in the event that the Term is extended as provided herein, the last day of the last exercised Renewal Term. Tenant shall exercise said renewal options by giving notice thereof to Landlord not less than three (3) months prior to expiration of the Initial Term or the then-current Renewal Term, as applicable, and, if said notice be given, the Term hereof shall be extended for the Renewal Term for the Rent hereinafter provided and on all of the other provisions, agreements, covenants and conditions as are herein contained (unless changed or modified by mutual written agreement of the parties hereto) shall remain applicable for each Renewal Term, except (i) such of the provisions hereof as have been rendered inapplicable by the passage of time and (ii) the Annual Rent for the initial year of the Renewal Term shall be equal to the fair rental value as determined in Section 3.a.iii. herein.
c. Tenant acknowledges that Landlord's interest in the Leased Premises is a leasehold interest pursuant to that certain ground lease dated October 20, 1999 by and between the City of Millville ("City") as landlord thereunder and Landlord, as tenant thereunder, a memorandum of which was recorded in the office of the Clerk of the County of Cumberland (the "Ground Lease"), and that Tenant's interest in the Leased Premises is a sub-leasehold interest. Tenant acknowledges that the term of the Ground Lease expires on October 20, 2029, subject to certain options to renew contained in the Ground Lease. Pursuant to the terms of such options to renew, the City or the Landlord may, in their sole discretion, elect not to exercise such option. Tenant acknowledges that (i) neither the Landlord nor the City has the obligation to exercise the option to renew, and provisions of (ii) Landlord has made no statement or representations to Tenant, written or oral, with regard to its intent to renew the Ground Lease, and (iii) if either the Landlord or City elects not to exercise the option to renew the Ground Lease, the Tenant's right to renew this Lease shall be effective as void and of no effect. Tenant further acknowledges and agrees that any right granted to Tenant to renew this Lease beyond October 20, 2029 is expressly subject to, and conditioned upon, Landlord's renewal of the date of this Ground Lease. The term Notwithstanding anything contained in this Section 2 to the contrary, Tenant shall not be permitted to extend the Term of this Lease (beyond the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 expiration of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Ground 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Lease Agreement
Lease Term. The terms Equipment is leased for a Primary Term as defined herein, unless and provisions until the term of this Lease shall expire, be effective as of the date of this Leaseextended or be terminated pursuant to any provision hereof. The term of this Lease (the “Lease Term”) Primary Term shall commence on the “Lease Commencement Date,” and expire as that term is described in Section 1 herein, and more particularly set forth in the Rental Schedule, marked "Schedule (A)" and attached hereto. Lessee may extend the lease term of each item of Equipment for the extended term specified in Section 3.2 22 hereof, by giving Lessor written notice of Lessee's intention to so extend at least 90 days prior to the expiration of the SummaryPrimary Term and each succeeding extended term, and shall terminate on provided that at the “Lease Expiration Date,” as that term is set forth in Section 3.3 time of the Summary, unless this Lease giving of such notice no Event of Default has occurred and is continuing and provided that the lease term of such item of Equipment has not been sooner terminated as hereinafter providedaforesaid. Tenant Lessee hereby acknowledges that authorizes Lessor to insert the Premises are currently occupied Lease Commencement Date for an item of Equipment on the Rental Schedule therefor when such item has been accepted by another tenant of the BuildingLessee for lease hereunder. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of The words "lease term" as used in this Lease or the obligations of Tenant hereunder. For shall, for all purposes of this Lease, and unless the context otherwise requires, be deemed to include each extended term “referred to in Section 22.
(a) This Lease Year” is a net lease and Lessor shall mean invoice Lessee for the amount of 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 Basic Rent payment set forth in Exhibit Cthe Rental Schedule no earlier than thirty (30) days prior to the specified payment date therefor, attached heretoand Lessee shall pay to Lessor within thirty (30) days following receipt of Lessor's invoice, such amount set forth in the Rental Schedule at Lessor's address set forth above, or at such other address or to such other person or entity as a confirmation only Lessor, from time to time, may designate in writing.
(b) Lessee shall also pay to Lessor, in lawful money of the information set forth thereinUnited States, all amounts which Tenant Lessee is required to pay pursuant to this lease (other than Basic Rent) together with every fine, penalty, interest and cost which may be added for non-payment or late payment thereof. Such amounts shall execute constitute additional rent. If Lessee shall fail to pay any additional rent, Lessor shall have the right to pay the same and return shall have all rights, powers and remedies with respect thereto as are provided herein or by law in the case of nonpayment of Basic Rent. Lessee shall pay to Landlord within Lessor interest at two and a half percent (2 1/2%) plus the Prime Interest Rate per annum which shall be defined as the best rate then charged by The Chase Manhattan Bank of New York for loans to substantial commercial borrowers, or the maximum per annum rate permitted by law on all overdue Basic Rent from ten (10) business days following Lessee's receipt of receipt thereof; providedLessor's written notice of non-payment until paid, however, 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. In addition to the foregoing, subject to any delays caused on all overdue additional rent paid by Tenant or any Tenant Parties and events Lessor on behalf of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on Lessee from the date Landlord so tenders possession of the Premises to Tenantpayment by Lessor until repaid by Lessee. Any such Base Lessee shall perform all its obligations under this Lease at its sole cost and expense, and shall pay all Basic Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowadditional rent when due, without further notice or demand.
Appears in 1 contract
Sources: Master Equipment Lease Agreement (American Income Partners v a LTD Partnership)
Lease Term. The terms and provisions of this 3.1 This Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence continue in force during a period beginning on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate terminating on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated or extended to a later date under any other term or provision of this Lease. Tenant shall be permitted entry to the Premises four (4) weeks prior to the anticipated Commencement Date for the purpose of installing its fixtures and equipment and performing such other work as is necessary to prepare the Premises for occupancy. This early entry will be at Tenant’s sole risk and subject to all the terms and provisions of this Lease as though the Commencement Date had occurred, except for the payment of rent, which will commence on the Commencement Date. Tenant, and its contractors, agents and employees will not materially interfere with or delay the construction of the Tenant Improvements. All rights of Tenant under this Section 3.1 will be subject to the requirements of all applicable building codes, zoning requirements, and federal, state and local laws, rules, and regulations, and shall not interfere with Landlord’s compliance with laws, including the obtaining of a certificate of occupancy or completion, as applicable for the Premises.
3.2 Provided that the Final Plans (as defined in the Work Letter) (with all final finishes) for the Tenant Improvements are approved by Landlord and Tenant, and in form complete for the purpose of bidding and obtaining a building permit, on or before May 15, 2003, Landlord reasonably believes that the Tenant Improvements (excluding the Tenant Improvements in the First Floor Space) will be substantially completed on or before August 21, 2003. If the Tenant Improvements have not been Substantially Completed by August 21, 2003, Landlord shall have no liability of any kind whatsoever therefor, and the Commencement Date shall be deferred and determined in accordance with Section 1.5 of this Lease. Notwithstanding the foregoing, if Substantial Completion of the Tenant Improvements is delayed by a Tenant Delay (as defined in Subparagraph 3.3), the Commencement Date shall be the date on which Substantial Completion would have occurred but for the Tenant Delay.
3.3 Notwithstanding anything to the contrary contained in Section 3.2, and provided that, on or before May 15, 2003, (i) the Final Plans (as defined in the Work Letter) (with all final finishes) for the Tenant Improvements are approved by Landlord and Tenant, and in form complete for the purpose of bidding and obtaining a building permit, and (ii) Tenant has waived, in writing, its termination right set forth in Section 3.5 below, then, if the Tenant Improvements (excluding the Tenant Improvements in the First Floor Space) have not been Substantially Completed by September 21, 2003, as such date shall be extended by the period of any delay caused by Tenant Delay (as hereinafter provided. defined) or a force majeure event (as described in Section 34 below) (such date, as it may be so extended, the “Outside Date”), then Tenant, as its sole and exclusive remedy, shall receive, in addition to the scheduled rent abatement described in Sections 1.3 and 5.4, Tenant hereby acknowledges shall receive two days of abatement of Base Rent and Tenant’s obligation to pay Tenant’s Proportionate Share in increases in Operating Expenses for each day past the Outside Date that the Premises are currently occupied by another tenant of the Buildingnot Ready for Occupancy. If Landlord is unable for any reason to deliver possession of the Premises to As used herein, a “Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease YearDelay” 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 delay in the form as set forth in Exhibit C, attached hereto, as a confirmation only substantial completion of the information set forth thereinTenant Improvements caused by any act or omission of Tenant or any of its agents, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; providedemployees or contractors, howeverincluding, without limitation, Tenant’s failure to execute timely provide information reasonably requested by Landlord in order to prepare the space plan or construction drawings, Tenant’s failure to timely review and return such notice comment upon the proposed space plan or construction drawings, Tenant’s request for changes to the final, approved construction drawings, Tenant’s request for “long lead items” (meaning, items which, due to their unique nature, require long manufacturing or delivery times and are not readily available in a time frame consistent with the construction schedule for the Tenant Improvements; Landlord within such will advise Tenant of the existence of long lead items at the time shall be conclusive upon of Landlord’s review of the plans or drawings in question), interference by Tenant that or its agents, contractors or employees with Landlord’s performance of the information Tenant Improvements, and Tenant’s failure on or before May 15, 2003, to waive its termination right set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 3.5 below.
Appears in 1 contract
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 “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date (or, if applicable, the last day of the Option 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 -5- HCP ▇▇▇▇▇▇ ▇▇▇▇▇, LLC [11099 NORTH ▇▇▇▇▇▇ ▇▇▇▇▇ ROAD] [Synthorx Inc.] and return to Landlord within ten (10) business days of receipt thereof; provided, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Lease Agreement
Lease Term. The terms and provisions of this Lease (a) Notwithstanding anything to the contrary contained in the Sublease Agreement, the Sublease Commencement Date shall be effective as of the date of this LeaseOctober 1, 2001. The term of this Lease applicable to the Additional Sublease Premises only (the “Lease "Additional Sublease Premises Term”") shall commence on the “Lease Commencement Date,” as date that term is set forth in Section 3.2 of Landlord consents to this First Amendment and Sublandlord vacates the SummaryAdditional Sublease Premises and notifies Subtenant thereof, and the Additional Sublease Premises Term shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summaryend, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the provided herein, on December 31, 2001 ("Additional Sublease Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12Expiration Date") 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, however, Tenant’s failure that in the event Sublandlord shall have failed to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that vacate the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Additional Sublease Premises to Tenant on or before January 2November 15, 2015 2001 or Landlord shall have failed to consent to this First Amendment on or before November 15, 2001, then Subtenant shall have the right to terminate this First Amendment upon written notice to Sublandlord. Sublandlord will remove all of its moveable personal property from the Additional Sublease Premises prior to vacating the same.
(b) If Sublandlord vacates the “Base Rent Delivery Date”)Additional Sublease premises on or before October 24, Tenant shall be entitled 2001, Subtenant will reimburse Sublandlord up to one ($15,000 of Sublandlord's reasonable expenses incurred in connection therewith. If Sublandlord vacates the Additional Sublease Premises after October 24, 2001 but on or before November 1) day , 2001, Subtenant will reimburse Sublandlord up to $10,000 of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to TenantSublandlord's reasonable expenses incurred in connection therewith. Any reimbursement of expenses required under this section 3(b) will be paid to Sublandlord within twenty (20) days after Subtenant's receipt of a statement from Sublandlord setting forth such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowexpenses.
Appears in 1 contract
Lease Term. (a) The terms and provisions initial term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (the “Lease 10) years ("Term”") and shall commence on the “Lease date hereof ("Commencement Date,” as that term is set forth in Section 3.2 ") and shall ---- ----------------- terminate 5:00 P.M. local time on the tenth (10th) anniversary of the Summary, and shall terminate on Commencement Date (the “Lease "Expiration Date,” as "). ---------------
(b) Provided that term Tenant is set forth not in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes default of this Lease, Tenant shall have the option to renew this Lease for three (3) renewal terms of five (5) years each commencing upon the expiration of the initial ten (10) year Term or any previous renewal term, as the case may be, and ending at 5:00 P.M. local time five (5) years thereafter, unless any such renewal term “shall sooner terminate in accordance with this Lease Year” or otherwise; provided that (i) Tenant shall mean each consecutive twelve have notified Landlord in writing of Tenant's exercise of such renewal option not later than six (126) month months prior to the expiration of the initial Term hereof or the then existing renewal term, as the case may be, (ii) at the time such notice is given, this Lease shall be in full force and effect and Tenant shall not be in default hereunder for such period of time as would entitle Landlord to terminate this Lease pursuant to the terms hereof. Such renewal terms shall be upon all of the agreements, terms, covenants and conditions hereof except that Tenant shall pay Base Rent (hereinafter defined) to Landlord in monthly installments in an amount equal to the greater of (i) the fair market rate (the "Fair Market Rent") for ---------------- the Real Property (as defined herein) or (ii) one hundred and ten percent (110%) of the existing Base Rent on an "AS IS, WHERE IS" basis as of the commencement of the renewal term, as designated by Landlord within twenty (20) days after Landlord receives Tenant's renewal notice, but in no event greater than the rate of Base Rent in effect at the scheduled expiration of the Term or the applicable renewal term plus twenty-five percent (25%) thereof. In addition, during the Lease Termrenewal term, Tenant shall pay all other rent and other amounts due under the Lease. At any time during If Tenant does not approve of Landlord's designation of the Lease TermBase Rent for the renewal term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretothen Tenant, as a confirmation only of the information set forth thereinits sole remedy, which Tenant shall execute and return may submit in writing to Landlord within ten (10) business days after the Landlord's delivery of receipt thereof; providedits determination Fair Market Rent to Tenant (the "Renewal Commencement Date"), howeverits good faith ------------------------- determination of Fair Market Rent with appropriate back-up documentation. If the Tenant's determination of Fair Market Rent is within ten percent (10%) of the Landlord's determination of the same, the "Fair Market Rent" shall equal the ---------------- median number between each of the Tenant’s failure 's and Landlord's determination (but in no event shall the Fair Market Rent be less than the Base Rent existing on the last day of the Term plus ten percent (10%)). If the Tenant's determination of Fair Market Rent is not within ten percent (10%) of the Landlord's determination --- of the same, each of the Landlord and the Tenant shall choose an appraiser on the eleventh (11th) day after the Renewal Commencement Date to execute determine the "fair market rent" and return such notice to Landlord within such time the initial determinations shall be conclusive upon Tenant that disregarded for all purposes in determining the information set forth in such notice is as specified thereinFair Market Rent. In addition Each appraiser shall diligently attempt to agree on the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant Fair Market Rent on or before January 2, 2015 the twenty-fourth (the “Base Rent Delivery Date”), Tenant shall be entitled to one (124th) day of per diem Base Rent abatement for each day commencing on the day after the Renewal Commencement Date. If such appraisers agree on the Fair Market Rent on or before the twenty-fourth day after the Renewal Commencement Date, such agreed sum shall constitute the "Fair Market Rent". If the appraisers have not agreed on the Fair Market Rent by such day, (a) the appraisers shall select an independent third appraiser (the "Final Appraiser"), --------------- and (b) each such original appraiser shall deliver in writing to the Final Appraiser their last determination of the sum (each such sum being hereinafter referred to as the "Appraisal Price") that such appraiser believes is the Fair --------------- Market Rent. On or before the twenty-ninth (29th) day after the Renewal Commencement Date, the Final Appraiser shall choose one Appraisal Price or the other Appraisal Price as the "Fair Market Rent". Notwithstanding anything to ---------------- the contrary herein, in no event shall the Fair Market Rent be less than the Base Rent Delivery Date and ending on in effect at the date Landlord so tenders possession last day of the Premises to TenantTerm plus ten percent (10%) thereof. Any Tenant shall have no further renewal rights after the expiration of such Base Rent Abatement renewal terms. Upon the commencement of each renewal term, (x) the renewal term shall be separate from added to and become part of the Term, (y) any reference in addition this Lease, to the "Term", the "term of this Lease" or any Rent Abatement described in Section 3.2 belowsimilar expression shall ---- be deemed to include the renewal terms, and (z) the Expiration Date shall become the expiration of the applicable renewal term.
Appears in 1 contract
Sources: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)
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 commence on the “Lease Commencement Date,” be as that term is set forth in Section 3.2 3.1 of the Summary, shall commence on the date (the “Commencement Date”) that Landlord delivers the Premises to Tenant in its “as is” condition and free of occupants, together with a copy of an Environmental Assessment, the Tenant acknowledging that such Environmental Assessment shall not be deemed to be insufficient on account of the Transferred Materials, defined below, remaining in the Premises in compliance with this Lease, meeting the requirements of Section 15.3, below, from the current tenant of the Premises or a consultant retained by Landlord (such condition being referred to herein as the “Delivery Condition”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Commencement Date and each subsequent consecutive twelve (12) month period during the Lease TermTerm (notwithstanding the foregoing to the contrary, the fifth 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 C2.1(A), 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, however, but execution of such instrument shall not be a condition to Lease commencement or Tenant’s obligations hereunder. Landlord anticipates that the Commencement Date will occur on April 1, 2019, but failure of the Commencement Date to execute and return occur on such notice date shall not be a default hereunder or result in any liability to Landlord within such time shall be conclusive upon or the termination of this Lease. Tenant acknowledges that the information set forth Premises will be delivered to Tenant containing such personal property as the predecessor tenant in such notice is as specified therein. In addition the Premises may agree in writing, at least 30 days prior to the foregoingCommencement Date, subject to any delays caused by convey to Tenant or any pursuant to a separate agreement. Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of further acknowledges that the Premises will be delivered containing certain Hazardous Materials as more particularly described, and in the manner described, in the plan dated March 12, 2019 prepared by Technical Safety Services LLC, and referred to Tenant on or before January 2, 2015 as NY-AST19006G-1 and attached hereto as Exhibit 2.1(B) (the “Base Rent Delivery DateTransferred Materials”), ) that Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on is acquiring from the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of predecessor tenant in the Premises pursuant to Tenanta separate written agreement (the “Side Letter”) between Tenant and the predecessor tenant, which Side Letter is attached hereto as Exhibit 2.1(C). Any such Base Rent Abatement shall be separate Landlord makes no representations or warranties with respect to, and Tenant waives any claims against Landlord arising out of, the conveyance or use of any personal property that Tenant obtains from and in addition to any Rent Abatement described in Section 3.2 belowthe predecessor tenant, the Transferred Materials, or the predecessor tenant’s compliance with the Plan or the Side Letter.
Appears in 1 contract
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 sixty-six (66) calendar months. The Term shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 earlier of the Summary, and shall terminate on the “Lease Expiration Date,” as date that term is set forth in Section 3.3 Tenant takes possession of the Summary, unless this Lease is sooner terminated as hereinafter provided. Premises or 10 days after Landlord notifies Tenant hereby acknowledges that the Premises are currently occupied by another tenant ready for occupancy (the "Commencement Date") which is estimated to be September 1, 2005, but no earlier than September 1, 2005, and end on the last day of the Buildingcalendar month which is sixty-six (66) months after the Commencement Date (the "Termination Date"), unless renewed, terminated or extended on the terms and conditions set forth herein. If Landlord is unable for any reason to deliver In the event that Tenant takes possession during the Pre-Commencement Occupancy Period as defined herein, the Commencement Date shall be September 1, 2005. Each of the Premises parties hereto agrees, upon demand of the other, to Tenant execute a Commencement Agreement substantially in accordance with Exhibit "D" attached hereto establishing the Commencement Date as soon as it has been determined. In the event the Commencement Date occurs on any specific date other than the first day of the month, then the first lease year of the Term shall commence on the Commencement Date and end on the last day of the twelfth (12th) full month following the Commencement Date. Landlord and Tenant agree that Landlord shall not be subject use its best efforts to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of make the Premises to Tenant on ready for occupancy by September 1, 2005 or before January 2, 2015 such sooner date as the Premises is ready for occupancy (the “Base Rent Delivery "Pre-Commencement Occupancy Date”), ") and that Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on occupy the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession Premises as of the Premises to TenantPre-Commencement Occupancy Date through the Commencement Date (the "Pre-Commencement Occupancy Period") on a Rent free basis. Any such Base Rent Abatement However, Tenant shall be separate from required to comply with all other terms and conditions of the Lease during the Pre-Commencement Occupancy Period. The foregoing notwithstanding, in addition the event the Premises are not delivered to any Rent Abatement described Tenant by October 1, 2005, Landlord grants Tenant an option to terminate ("Termination Option") the Lease provided that Tenant gives Landlord written notice ("Termination Notice") of Tenant's election to exercise its Termination Option. The Termination Option is not available to Tenant if Tenant is in Section 3.2 belowdefault under the Lease or if Landlord's inability to timely deliver the Premises is a direct result of Tenant caused delays.
Appears in 1 contract
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 month(s) beginning on the day of , 200 , and ending on the day of , 200 (the “Lease Term” or “Term”) at which time this Lease will revert to month-to-month, unless notified by the Resident. If Resident desires to terminate this Lease at the end of the initial term and the Resident is changing duty stations, retiring, or separating, the Resident shall commence give Landlord thirty (30) days written notice prior to the end of the term. If no notice is given, then the Lease will be governed by the provisions of Section 22. Residents terminating this Lease at the end of the initial term for all other reasons, must give notice before the fifth (5th) of the month to be effective on the “last day of the month. If said notice is given after the fifth (5th) of the month, Lease Commencement Date,” as that term termination shall be the last day of the next calendar month following the month in which notice is set forth given. After the expiration of the Lease, the Resident shall not remain in possession of the Premises without the Landlord’s prior written consent. If the Landlord consents to the Resident’s continued occupancy, the tenancy shall be deemed to be month-to-month and the rental rate shall be not less than the rate established in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building3. If Landlord is unable for any reason to deliver possession of the Premises to Tenant the Resident on any specific the first date shown above in Section 2 (the “agreed upon date”), then Landlord shall not be subject due to any liability for its failure to do sodelays in the construction or renovation of the Premises beyond the control of the Landlord, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereundershall remain in effect. For purposes of this LeaseHowever, the term “Lease Year” shall mean each consecutive twelve if such delay exceeds five (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 (105) business days then, at the Resident’s option, this Lease may be terminated by Resident upon three (3) days notice at which point this Lease shall become null and void and any deposit or rent paid by Resident prior to the date of receipt thereof; providedsuch termination will be promptly returned to Resident by Landlord via direct deposit and Landlord shall have no further liability under the Lease for failure to deliver possession of the Premises. However, howeverif the Resident does not exercise its option to terminate this Lease due to such delay, Tenantthe Landlord shall provide the Resident with comparable temporary accommodations that are reasonably acceptable to Resident for a period not to exceed sixty (60) days at the same rental rate as provided for herein, and/or shall reimburse Resident for the costs of temporary accommodations obtained by Resident. Landlord shall further reimburse Resident for actual out-of-pocket costs and expenses incurred by the Resident as the result of the Landlord’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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender deliver possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after agreed upon date. By way of example only, and not limitation, Landlord shall reimburse Resident for the Base Rent Delivery Date costs of obtaining temporary storage for the Resident’s furniture and ending on the date Landlord so tenders other goods, and fees to kennel, board or otherwise house Resident’s pets. If possession of the Premises is not delivered within sixty (60) days of the agreed upon date, then either the Resident or Landlord may terminate this Lease, provided that in the case of termination by either party, Landlord shall reimburse the Resident for the relocation and other costs and expenses incurred by Resident in connection with obtaining comparable substitute housing, including any security deposits and payment of the difference between the monthly rent that would have been due from Resident under this Lease and the monthly rent that the Resident shall actually be required to Tenant. Any pay for such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowsubstitute housing.
Appears in 1 contract
Sources: Military Housing Lease
Lease Term. The terms and provisions term of this Lease shall be effective as of the date of this Lease. The term of this Lease two (2) years and no (0) months commencing November 1, 2007 (the “Lease Term”) shall commence on the “Lease "Commencement Date,” as that term is set forth in Section 3.2 of ") and terminating on October 31, 2009 (the Summary, and "Termination Date") unless the termination date shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is be terminated sooner terminated as hereinafter provided. Tenant hereby acknowledges In the event that the Premises are currently occupied by another tenant of the Building. If Landlord is unable Landlord, for any reason to deliver possession of the Premises to Tenant on any specific date reason, then Landlord shall cannot be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2the Commencement Date, 2015 (this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant in any way as a result of such failure to tender possession.
3.1 In the “Base Rent Delivery Date”), Tenant shall be entitled event of the inability of Landlord to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders deliver possession of the Premises to TenantTenant on the Commencement Date this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in such event the Term shall not commence until such time as Landlord tenders delivery of possession of the Premises to Tenant with Landlord's work therein, if any, substantially completed. Any Should Landlord tender possession of the Premises to Tenant prior to the Commencement Date and Tenant elects to accept such Base Rent Abatement prior tender, the Term shall thereupon commence and such prior occupancy shall be separate subject to all of the terms of this Lease, including the payment of rent and other expenses.
3.2 In the event that Tenant is allowed to enter into possession of the Premises prior to the Commencement Date, such Possession shall be deemed to be pursuant to, and shall be governed by, the terms, covenants and conditions of this Lease, including without limitation the covenant to pay operating expenses, as though the Commencement Date occurred upon the date of taking of possession by Tenant.
3.3 In the event that the Commencement Date falls on other than the first day of a month, rent for any initial partial month of the term hereof shall be appropriately prorated; and if the date of commencement of Tenant's rent obligations, pursuant to Paragraph 3.0 above, is other than the Commencement Date, the end of the term hereof shall be adjusted to sixty (60) months from and in addition to any Rent Abatement described in Section 3.2 belowthe first day of the month after the actual occupancy date. At the request of either party hereto, both parties shall execute a memorandum confirming the date of commencement of Tenant's rent obligations.
Appears in 1 contract
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 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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 , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the “Base Rent Delivery Date”Summary), Landlord shall not be subject to any liability nor, except as otherwise provided below, shall the validity of this Lease nor the obligations of Tenant shall hereunder be entitled to one (1affected. In the event that the Lease Commencement Date is date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) day of per diem Base Rent abatement for each day commencing on the day Summary, within reasonable period of time after the Base Rent Delivery Date and ending on the date Landlord so tenders Tenant takes possession of the Premises Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, setting forth, among other things, the Lease Commencement Date and the Lease Expiration Date, and Tenant shall execute and return such amendment to Landlord within five (5) days after Tenant. Any such Base Rent Abatement 's receipt thereof provided Tenant approves the contents thereof (which approval shall not be separate from and in addition to any Rent Abatement described in Section 3.2 belowunreasonably withheld).
Appears in 1 contract
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 or any obligations to maintain, repair or comply with laws. The term of this Lease (the “"Lease Term”") shall be as specified in Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is set forth ") specified in Section 3.2 7.2 of the Summary, and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing, Tenant hereby acknowledges that as of the Lease Date, the Premises are currently presently being occupied by another tenant RESOURCE/PHOENIX, INC., a California corporation (the "Existing Tenant") under a sublease from PEOPLESOFT USA, INC., a Delaware corporation ("PeopleSoft"). Landlord's delivery to Tenant of possession of the BuildingPremises by the Lease Commencement Date is contingent upon (i) Landlord entering into lease termination agreements with the Existing Tenant and with PeopleSoft satisfactory to Landlord, and (ii) the Existing Tenant vacating the Premises and surrendering possession thereof to Landlord by the Lease Commencement Date; provided that Landlord shall use commercially reasonable efforts to enter into such lease termination agreements and cause Existing Tenant to vacate the Premises and surrender possession thereof to Landlord by the Lease Commencement Date. Landlord anticipates that Landlord will be able to deliver approximately 34,537 rentable square feet of the Premises on the ground floor of the Building (the "Initial Premises") to Tenant on or about the Lease Commencement Date; the balance of the Premises on the second floor of the Building comprising approximately 32,945 rentable square feet (the "Remaining Premises") is anticipated to be delivered to Tenant on or about October 1, 2001 (the "RP Commencement Date"). If Landlord is unable Landlord, for any reason to whatsoever, cannot deliver possession of the Initial Premises to Tenant on any specific date the Lease Commencement Date, then Landlord shall not be subject to any liability nor shall the validity of the Lease be affected; provided, the Term of this Lease and the obligation to pay Rent or any obligations to maintain, repair or comply with laws shall commence on the date possession is actually tendered to Tenant and the Lease Expiration Date shall be extended commensurately. If Landlord, for its failure any reason, cannot deliver possession of the Remaining Premises to do soTenant on the RP Commencement Date (in the condition that exists on the day after the Existing Tenant vacates the Remaining Premises) without any improvements, and such failure alterations, repairs, refurbishment or other modifications being made thereto (except as may be necessary to satisfy the requirements of Section 1.2 above), Landlord shall not affect be subject to any liability nor shall the validity of this Lease be affected; provided the RP Commencement Date shall be extended commensurately by the period of time Landlord is delayed in so delivering possession of the Remaining Premises to Tenant without any improvements, alterations, repairs, refurbishment or the obligations of Tenant hereunderother modifications being made thereto. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term, provided that the last Lease Year shall end on the Lease Expiration Date. At If the Lease Commencement Date, the RP Commencement Date and/or the Lease Expiration Date of this Lease is other than the Lease Commencement Date, the RP Commencement Date and/or Lease Expiration Date specified in Section 7 of the Summary, then at any time during the Lease Term, Landlord may deliver to Tenant a notice an Amendment to Lease in substantially the form as set forth in Exhibit C, attached hereto, as a confirmation only of wherein the information set forth thereinparties shall specify the actual Lease Commencement Date, RP Commencement Date, Lease Expiration Date and the dates on which Tenant is to commence paying Rent for the Initial Premises and the Remaining Premises, respectively, and which document Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure . The word "Lease Term" whenever used herein refers to execute the initial term of this Lease and return such notice to Landlord within such time shall be conclusive upon Tenant that any valid extension(s) thereof. Notwithstanding the information definition of Premises set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession Section 6.1 of the Summary, the Premises as used herein shall only refer to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession that portion of the Premises Building which has been delivered to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Sublease Agreement (Biotime Inc)
Lease Term. The terms Lease Term shall be for the period stated in the definition of that term, unless earlier terminated as provided in this Lease. Tenant acknowledges that Tenant presently occupies a portion (the “Existing Premises”) of the Premises as a subtenant under a sublease and provisions the balance of the Premises (the “Verizon Premises”) are presently leased to a third party and that Landlord is making such space available for Tenant’s use under this Lease upon the termination of the existing lease. Notwithstanding any provision of this Lease to the contrary, if Landlord shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises such space to Tenant on any specific date the Commencement Date because of the holding over of possession by the existing tenant or subtenant, then Landlord shall not be subject to any liability for its the failure to do sodeliver possession of such space, provided that Tenant shall have no obligations hereunder with respect to the Verizon Premises, including without limitation the payment of Rent until the date (the “Verizon Delivery Date”) that possession of the Verizon Premises is delivered to Tenant. Landlord shall use commercially reasonable efforts (including, without limitation, eviction proceedings) to cause such existing tenant to vacate the premises occupied by it upon the expiration of its term. Notwithstanding the foregoing, in the event that Landlord has not delivered the Verizon Premises to Tenant by May 1, 2010, then the Verizon Premises Abatement Period (as defined in the Rider) shall be extended one (1) additional day for each day of such delay. Further, in the event that Landlord has not delivered the Verizon Premises to Tenant by December 31, 2010, then Tenant may terminate and cancel this Lease by written notice which is received by Landlord prior to such delivery of possession, which notice shall be accompanied by Tenant’s reimbursement to Landlord of an amount equal to the excess of (y) the total amount of the Tenant Improvement Allowance disbursed to Tenant prior to the date of Tenant’s notice pursuant to Paragraph 10 of Exhibit B over (ii) the amount of the Tenant Improvement Allowance disbursed to Tenant for the installation of the Generator pursuant to Paragraph 6 of the Rider and in such event (i) this Lease shall terminate on the date (the “Early Termination Date”) identified in Tenant’s notice (which shall be the last day of a calendar month) but in any event no earlier than the last day of the month which is sixty (60) days after Landlord’s receipt of Tenant’s notice; (ii) Tenant shall vacate the Initial Premises (as defined in Section 2.3 below) and surrender possession of the same to Landlord in the condition specified in this Lease no later than 11:59 p.m. on the Early Termination Date, and such failure all Tenant Improvements installed by Tenant in the Initial Premises including the Generator installed by Tenant pursuant to Paragraph 6 of the Rider shall not affect become the validity property of Landlord and shall remain upon the Premises; (iii) Tenant’s right hereunder may be exercised and the Lease Term shall be terminated only if no Event of Default then exists; and (iv) upon the satisfaction of the foregoing, this Lease or the obligations of Tenant hereunder. 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 be terminated and cancelled as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth thereinEarly Termination Date without further agreement between Landlord and Tenant, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute Tenant shall remain liable for the payment of rent and return such notice to Landlord within such time shall be conclusive upon Tenant that other charges and the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events performance of Force Majeure, if Landlord fails to tender possession all of the Premises terms and provisions of this Lease due and owing or accrued up to Tenant on or before January 2, 2015 (and including the “Base Rent Delivery Early Termination Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as a) Landlord, in consideration of the date of this Lease. The term of this Lease (rent to be paid and the “Lease Term”) shall commence other covenants and agreements to be performed by Tenant and upon the terms hereinafter stated, does hereby lease, demise and let unto Tenant the Premises, as defined herein and generally outlined on the “Lease Commencement Date,” floor plan attached hereto as that term is set forth in Section 3.2 of the SummaryEXHIBIT A-1 and EXHIBIT A-2, and shall terminate commencing on the “Lease Expiration Date,” as that term is set forth in Section 3.3 Commencement Date and ending, without the necessity of notice from either party to the Summaryother, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that on the Premises are currently occupied by another tenant last day of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. 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, unless sooner terminated as herein provided.
b) If the 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, however, 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. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails unable to tender possession of the Premises on the anticipated Commencement Date, the Landlord shall not be liable for any damage caused thereby, nor shall this Lease be void or voidable by Tenant, but in such event, unless the delay results (i) from failure of Tenant to provide plans or otherwise perform in accordance with the requirements of the Lease or (ii) from any delay in Landlord's ability to tender possession of the Premises caused by Tenant, no rental shall be payable by Tenant prior to actual tender to Tenant on or before January 2, 2015 (of Possession of the “Base Rent Delivery Date”)Premises.
c) By occupying the Premises, Tenant shall be entitled deemed to one have accepted the same as suitable for the purpose herein intended. Within three (13) day business days of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession delivery of the Premises to Tenant. Any such Base Rent Abatement shall be separate from Tenant by Landlord, Tenant agrees to execute and in addition return to any Rent Abatement described in Section 3.2 belowLandlord a letter prepared by Landlord confirming the Commencement Date, a copy of which is attached hereto as EXHIBIT B, certifying that Tenant has accepted delivery of the Premises and that the condition of the Premises complies with Landlord's obligations hereunder.
Appears in 1 contract