Common use of Leased Premises Term Clause in Contracts

Leased Premises Term. Subject to and upon the terms and conditions set forth herein, or in any exhibit or addendum hereto, this Lease for the Leased Premises shall be effective and commence upon the Effective Date. The Basic Rent and other Rental, as hereinafter defined and as it relates to the 4th Floor Space, shall commence and the Lease shall continue in force for a term of One Hundred Twenty (120) months from the earlier of: (i) the date the Tenant Leasehold Improvements are completed and Tenant commences to conduct its business from the Leased Premises, or (ii) the date that is one hundred twenty (120) days from the Approval Date, provided however, in no event more than one hundred fifty (150) days from the Effective Date. For purposes of this Lease, the term “Approval Date” shall mean the date Landlord has approved Tenant’s preliminary and final plans and specifications for the construction of the Tenant Leasehold Improvements pursuant to Section 2.02a. If the 4th Floor Space is not ready for occupancy within said one hundred twenty (120) days after the Approval Date due to Tenant’s change in the plans for construction for the 4th Floor Space or Tenant’s failure to approve, in a timely manner, any matter requiring Tenant’s approval, payment of Rental shall commence and Landlord shall not be liable or responsible for any claims, damages or liabilities in connection with, arising from, or by reason of such delay and the term of this Lease shall continue for the same term of months as set forth above. Landlord and Tenant will, at the request of either, execute a declaration specifying the commencement of payments of Rental and expiration dates of the term of this Lease.

Leased Premises Term. Subject to and upon the terms and conditions set forth herein, or in any exhibit or addendum hereto, this Lease for the Leased Premises shall be effective and commence upon the Effective Date. The Basic Rent and other Rental, as hereinafter defined and as it relates to the 4th Floor Space, shall commence and the Lease shall continue in force for a term of One Hundred Twenty (120) months from the earlier of: (i) the date the Tenant Leasehold Improvements are completed and Tenant commences to conduct its business from the Leased Premises, or (ii) the date that is one hundred twenty (120) days from the Approval Date, provided however, in no event more than one hundred fifty (150) days from the Effective Date. For purposes of this Lease, the term “"Approval Date” " shall mean the date Landlord has approved Tenant’s 's preliminary and final plans and specifications for the construction of the Tenant Leasehold Improvements pursuant to Section 2.02a. If the 4th Floor Space is not ready for occupancy within said one hundred twenty (120) days after the Approval Date due to Tenant’s 's change in the plans for construction for the 4th Floor Space or Tenant’s 's failure to approve, in a timely manner, any matter requiring Tenant’s 's approval, payment of Rental shall commence and Landlord shall not be liable or responsible for any claims, damages or liabilities in connection with, arising from, or by reason of such delay and the term of this Lease shall continue for the same term of months as set forth above. Landlord and Tenant will, at the request of either, execute a declaration specifying the commencement of payments of Rental and expiration dates of the term of this Lease.