Common use of Mechanical Pad Clause in Contracts

Mechanical Pad. Notwithstanding anything to the contrary contained herein, Tenant shall have the right to install, at Tenant’s sole cost and expense, one nitrogen tank and ancillary hook-ups, and related screening of a design and type reasonably acceptable to Landlord (the “Nitrogen Tank”) in a section of the Project behind the Building in a location designated by Landlord (the “Mechanical Pad”). Commencing on the date such Nitrogen Tank is installed, Tenant shall have all of the obligations under this Lease with respect to the Mechanical Pad as though the Mechanical Pad were part of the Premises including, without limitation, the delivery of a Decommissioning and HazMat Closure Plan (as defined in Section 28) with respect to the Mechanical Pad pursuant to Section 28, except that Tenant shall not be required to pay Base Rent with respect to the Mechanical Pad. The number of parking spaces available to Tenant under this Lease may be reduced by the number of parking spaces impacted by the Mechanical Pad, if any. Tenant shall remove the Nitrogen Tank at the expiration or earlier termination of this Lease. Tenant shall accept the Mechanical Pad in its “as-is” condition and shall surrender the Mechanical Pad free of any debris and trash and free of any Hazardous Materials upon the expiration or earlier termination of the Term. Landlord shall have no obligation to make any repairs or improvements to the Nitrogen Tank or the Mechanical Pad and Tenant shall maintain the Nitrogen Tank and Mechanical Pad, at Tenant’s sole cost and expense, in good repair and condition during the Term.

Appears in 1 contract

Sources: Lease Agreement (Regulus Therapeutics Inc.)

Mechanical Pad. Notwithstanding anything to the contrary contained herein, Tenant shall have the right to install, at Tenant’s sole cost and expense, one nitrogen tank and ancillary hook-ups, and related screening of a design and type reasonably acceptable to Landlord (the “Nitrogen Tank”) in a section of the Project behind the Building in a location designated by Landlord (the “Mechanical Pad”). Commencing on the date such Nitrogen Tank is installed, Tenant shall have all of the obligations under this Lease with respect to the Mechanical Pad as though the Mechanical Pad were part of the Premises including, without limitation, the delivery of a Decommissioning and HazMat Closure Plan (as defined in Section 28) with respect to the Mechanical Pad pursuant to Section 28, except that Tenant shall not be required to pay Base Rent nor shall Tenant’s Share of Operating Expenses be increased with respect to the Mechanical Pad. The number of parking spaces available to Tenant under this Lease may be reduced by the number of parking spaces impacted by the Mechanical Pad, if any. Tenant shall remove the Nitrogen Tank installed by Tenant at the expiration or earlier termination of this Lease. Tenant shall accept the Mechanical Pad in its “as-is” condition and shall surrender the Mechanical Pad free of any debris and trash and free of any Hazardous Materials for which Tenant is responsible under this Lease upon the expiration or earlier termination of the Term. Landlord shall have no obligation to make any repairs or improvements to the Nitrogen Tank or the Mechanical Pad and Tenant shall maintain the Nitrogen Tank and Mechanical Pad, at Tenant’s sole cost and expense, in good repair and condition during the Term., ordinary wear and tear and casualty loss and condemnation covered by Section 18 and 19 excepted. Net Laboratory 10628 Science Ctr./Turning Point - Page 38

Appears in 1 contract

Sources: Lease Agreement (Turning Point Therapeutics, Inc.)