Common use of Modification of Premises Clause in Contracts

Modification of Premises. Tenant shall have the right to increase or decrease the size of the Premises described in the Basic Lease Information and shown on the attached Exhibit A, provided the specific configuration of the modified Premises shall be subject to Landlord’s approval, which shall not be unreasonably withheld, and such modification shall be made in accordance with the terms and conditions of this Section 2.2. If Tenant desires to increase the size of the Second Floor Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with written notice of such election (the “Premises Modification Notice”) not later than sixty (60) days after the full execution of this Lease by Landlord and Tenant (the “Premises Modification Notice Deadline”), which Premises Modification Notice shall include a depiction of the desired configuration of the modified Premises. Tenant’s right to modify the Premises is subject to the following terms and conditions: (i) the total Rentable Area of the Premises following such modification shall not be less than 92,000 rentable square feet, (ii) the Second Floor Premises may be increased to include part or all of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”), (iii) the configuration of each increment of the Premises must be permitted by applicable laws regarding exiting, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a portion of the Initial Expansion Area, the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators, and (vi) if Tenant surrenders a portion of the Premises on any floor, the space so surrendered, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of Tenant’s proposed configuration of the Premises as depicted in the Premises Modification Notice, Landlord shall provide Tenant with written notice of such disapproval, and Landlord and Tenant shall cooperate in good faith to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease and the Improvement Allowance payable by Landlord pursuant to the Work Letter, based on the Rentable Area of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Premises Modification Notice by the Premises Modification Notice Deadline, Tenant shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premises, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises within thirty (30) days after Landlord provides Tenant with Landlord’s calculation thereof. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding the calculation of the usable square footage of the Premises.

Appears in 1 contract

Samples: Advent Software Inc /De/

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Modification of Premises. Effective as of March 1, 2015 (the “Expansion Commencement Date”), Tenant shall lease from Landlord and Landlord shall lease to Tenant the Expansion Premises; provided, however, that the Expansion Commencement Date shall be extended on a day-for-day basis for each day after January 1, 2015 that the existing tenant of the Expansion Premises (the “Existing Tenant”) fails to complete the full surrender and vacation of the Expansion Premises until such day as the Existing Tenant surrenders and vacates the Expansion Premises to Landlord (such full surrender and vacation to include the removal of all furniture and personal property and delivery to Tenant of copies of environmental decommissioning and sign-off letters from all relevant state and local environmental agencies) (the “Vacation Date”). Consequently, effective upon the Expansion Commencement Date, the Expansion Premises shall be added to the Existing Premises. The Existing Premises and the Expansion Premises may hereinafter collectively be referred to as the “Premises”. Landlord and Tenant hereby acknowledge that such addition of the Expansion Premises to the Existing Premises shall, effective as of the Expansion Commencement Date, result in Premises equal to 81,235 rentable square feet, and the Premises shall comprise the entirety of the Building. Landlord anticipates that the Vacation Date shall occur on or before January 1, 2015. Landlord shall have no liability to Tenant for any damages resulting from any delay in the Vacation Date as a result of Existing Tenant’s failure to vacate and surrender the Expansion Premises or any part thereof, provided that if Landlord has not delivered possession of the Expansion Premises to Tenant free and clear of the Existing Tenant on or before March 1, 2015, Tenant shall have the right to increase or decrease the size of the Premises described in the Basic Lease Information and shown on the attached Exhibit A, provided the specific configuration of the modified Premises shall be subject to Landlord’s approval, which shall not be unreasonably withheld, and such modification shall be made in accordance with the terms and conditions of terminate this Section 2.2. If Tenant desires to increase the size of the Second Floor Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with First Amendment by written notice of such election (the “Premises Modification Termination Notice”) not later than sixty to Landlord on or before March 15, 2015; provided further, that if Tenant delivers a Termination Notice to Landlord, then Landlord shall have the right to suspend the occurrence of the termination of this First Amendment until April 1, 2015 by delivering written notice to Tenant, within ten (6010) days after following Landlord’s receipt of the full execution of this Lease by Termination Notice, that, in Landlord’s reasonable, good faith judgment, the Existing Tenant will vacate and surrender the Expansion Premises to Landlord and Tenant on or before April 1, 2015 (the “Premises Modification Notice DeadlineTermination Extension Notice), which Premises Modification Notice shall include a depiction of the desired configuration of the modified Premises. Tenant’s right to modify the Premises is subject to the following terms and conditions: (i) the total Rentable Area of the Premises following such modification shall not be less than 92,000 rentable square feet, (ii) the Second Floor Premises may be increased to include part or all of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”), (iii) the configuration of each increment of the Premises must be permitted by applicable laws regarding exiting, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a portion of the Initial Expansion Area, the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators, and (vi) if Tenant surrenders a portion of the Premises on any floor, the space so surrendered, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If the Existing Tenant vacates and surrenders the Expansion Premises to Landlord disapproves on or before April 1, 2015, then the Termination Notice shall be of Tenant’s proposed configuration of the Premises as depicted in the Premises Modification Noticeno force or effect, Landlord shall provide Tenant with written notice of but if such disapproval, vacation and Landlord and Tenant shall cooperate in good faith to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease and the Improvement Allowance payable by Landlord pursuant to the Work Letter, based on the Rentable Area of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant surrender does not deliver the Premises Modification Notice by the Premises Modification Notice Deadlineoccur on or before April 1, Tenant 2015, then this First Amendment shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premisesterminate on April 1, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises within thirty (30) days after Landlord provides Tenant with Landlord’s calculation thereof. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding the calculation of the usable square footage of the Premises2015.

Appears in 1 contract

Samples: Lease (Five Prime Therapeutics Inc)

Modification of Premises. Effective as of the date (the "Expansion Commencement Date") which is the later to occur of (i) April 1, 2015, and (ii) the date which is one hundred twenty (120) days following the date upon which Landlord delivers the Expansion Premises to Tenant (which delivery is anticipated to occur between July 1, 2014 and November 1, 2014), the Existing Premises shall be increased to include the Expansion Premises. The Existing Premises and the Expansion Premises may hereinafter collectively be referred to as the "Premises". All references in the Lease, as amended, to the Building shall mean (a) the 250 Building when the context applies to the 250 Building or any portion of the Premises located in the 250 Building, (b) the 270 Building when the context applies to the 270 Building or any portion of the Premises located in the 270 Building, and (c) both the 250 Building and the 270 Building when the context applies to both of such buildings. Tenant shall have the right to increase or decrease access the size of Expansion Premises from and after the date upon which Landlord delivers the Expansion Premises described in the Basic Lease Information and shown on the attached Exhibit Ato Tenant, provided the specific configuration of the modified Premises shall be subject to Landlord’s approval, which shall not be unreasonably withheld, and such modification shall be made in accordance with the terms and conditions of this Section 2.2. If Tenant desires to increase the size 5.1 of the Second Floor Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with written notice of such election Work Letter attached hereto as Exhibit B (the “Premises Modification Notice”"Tenant Work Letter"). In the event the Expansion Commencement Date is determined pursuant to item (i) not later above (i.e., April 1, 2014 occurs more than sixty one hundred twenty (60120) days after the date Landlord delivers the Expansion Premises to Tenant), then Tenant shall have the right to occupy and use all or any portion of the Expansion Premises during the period commencing on the date which is one hundred twenty (120) days following the date upon which Landlord delivers the Expansion Premises to Tenant; provided that Landlord is in receipt of (x) the Minimum Rental for the second (2nd) full execution month of this Lease the Expansion Term(as required by Landlord Section 4.2 below), and Tenant (y) a certificate of insurance in compliance with the indemnification provisions set forth in the Lease, as amended, and continuing through March 31, 2015 (the “Premises Modification Notice Deadline”"Beneficial Occupancy Period"), which Premises Modification Notice . Tenant shall include a depiction give Landlord prior notice of any such occupancy of the desired configuration of the modified Expansion Premises. Other than Tenant's obligation to pay Minimum Rental and Tenant’s right to modify the Premises is subject Operating Cost Share with respect to the following terms and conditions: (i) the total Rentable Area of the Premises following such modification shall not be less than 92,000 rentable square feetExpansion Premises, (ii) the Second Floor Premises may be increased to include part or all of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”), (iii) the configuration of each increment terms and conditions of the Premises must be permitted by applicable laws regarding exiting, Lease shall apply during the Beneficial Occupancy Period as though the Expansion Commencement Date had occurred (iv) space included in it nevertheless being acknowledged that the Premises on each floor Expansion Commencement Date shall be reasonably contiguous, (v) if Tenant leases a portion not actually occur until the occurrence of the Initial Expansion Area, the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators, and (vi) if Tenant surrenders a portion of the Premises on any floor, the space so surrendered, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of Tenant’s proposed configuration of the Premises as depicted in the Premises Modification Notice, Landlord shall provide Tenant with written notice of such disapproval, and Landlord and Tenant shall cooperate in good faith to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease and the Improvement Allowance payable by Landlord same pursuant to the Work Letter, based on the Rentable Area terms of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Premises Modification Notice by the Premises Modification Notice Deadline, Tenant shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premises, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises within thirty (30) days after Landlord provides Tenant with Landlord’s calculation thereof. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding the calculation of the usable square footage of the Premises2).

Appears in 1 contract

Samples: Lease (Portola Pharmaceuticals Inc)

Modification of Premises. Effective as of the “Expansion Commencement Date” (as that term is defined hereinbelow), Tenant shall have lease from Landlord and Landlord shall lease to Tenant the right Expansion Premises. For purposes of this First Amendment, the term “Expansion Commencement Date” shall mean the later to occur of (i) December 1, 2015, or (ii) the date the Premises are “Ready for Occupancy” as defined in the Tenant Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”). Effective upon the Expansion Commencement Date, the Existing Premises shall be increased to include the Expansion Premises. Landlord and Tenant hereby acknowledge that such addition of the Expansion Premises to the Existing Premises shall, effective as of the Expansion Commencement Date, increase or decrease the size of the Premises described to approximately 93,579 rentable square feet. The Existing Premises and the Expansion Premises may after the Expansion Commencement Date collectively HCP LS REDWOOD CITY, LLC [First Amendment] [Relypsa, Inc.] be referred to as the “Premises”. After the Expansion Commencement Date, all references in the Basic Lease Information and shown on the attached Exhibit ALease, provided the specific configuration of the modified Premises shall be subject to Landlord’s approvalas amended, which shall not be unreasonably withheld, and such modification shall be made in accordance with the terms and conditions of this Section 2.2. If Tenant desires to increase the size of the Second Floor Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with written notice of such election (the “Premises Modification Notice”) not later than sixty (60) days after the full execution of this Lease by Landlord and Tenant (the “Premises Modification Notice Deadline”), which Premises Modification Notice shall include a depiction of the desired configuration of the modified Premises. Tenant’s right to modify the Premises is subject to the following terms and conditions: Building shall mean (i) the total Rentable Area 100 Building when the context applies to the 100 Building or any portion of the Premises following such modification shall not be less than 92,000 rentable square feetlocated in the 100 Building, (ii) the Second Floor Premises may be increased 200 Building when the context applies to include part the 200 Building or all of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”), (iii) the configuration of each increment of the Premises must be permitted by applicable laws regarding exiting, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a portion of the Initial Expansion Area, the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators, and (vi) if Tenant surrenders a any portion of the Premises on any floor, the space so surrendered, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of Tenant’s proposed configuration of the Premises as depicted located in the Premises Modification Notice, Landlord shall provide Tenant with written notice of such disapproval200 Building, and Landlord and Tenant shall cooperate in good faith to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on both the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease 100 Building and the Improvement Allowance payable by Landlord pursuant 200 Building when the context applies to both of such buildings; provided, however, references to the Work LetterBuilding in Sections 4.1.2, based on 11.2, 15.4 and 24 as to the Rentable Area of Expansion Premises shall mean the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Premises Modification Notice by the Premises Modification Notice Deadline, Tenant shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premises, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises within thirty (30) days after Landlord provides Tenant with Landlord’s calculation thereof. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding the calculation of the usable square footage of the Expansion Premises.

Appears in 1 contract

Samples: Lease (Relypsa Inc)

Modification of Premises. Effective as of the date Landlord delivers the Phase 1 portion of the Expansion Premises to Tenant “Ready for Occupancy” (the “Expansion Commencement Date”), Tenant shall have lease from Landlord and Landlord shall lease to Tenant the right Phase 1 portion of the Expansion Premises (which date is anticipated to occur in October, 2019). Effective as of the later of the Expansion Commencement Date or the date Landlord delivers the Phase 2 portion of the Premises to Tenant “Ready for Occupancy” (the “Phase 2 Commencement Date”), Tenant shall lease from Landlord and Landlord shall lease to Tenant the Phase 2 portion of the Expansion Premises. The addition of the Phase 1 portion of the Expansion Premises to the Existing Premises shall, effective as of the Expansion Premises Commencement Date, increase or decrease the size of the Premises described in the Basic Lease Information and shown on the attached Exhibit A, provided the specific configuration to approximately 28,977 RSF. The addition of the modified Phase 2 portion of the Expansion Premises shall be subject to Landlord’s approvalthe Existing Premises and the Phase 1 portion of the Expansion Premises shall, which shall not be unreasonably withheldeffective as of the Phase 2 Expansion Commencement Date, and such modification shall be made in accordance with the terms and conditions of this Section 2.2. If Tenant desires to increase the size of the Second Floor Premises or to approximately 50,298 RSF. The Existing Premises and the Fourth Floor Expansion Premises may hereinafter collectively be referred to as the “Premises, or to decrease the size ”. The last two (2) sentences of Section 1.1.1 of the Second Floor Lease shall apply as to the Expansion Premises. Landlord represents that the Expansion Premises are currently leased to ICE DATA SERVICES, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with written notice of such election INC. (the “Premises Modification NoticeExisting Tenant”) not later than sixty (60) days after and Landlord has entered into an agreement with the full execution of this Lease by Landlord Existing Tenant to terminate its lease and the Existing Tenant (and any subtenants to vacate and surrender the Expansion Premises Modification Notice Deadline”)on or before May 31, which Premises Modification Notice shall include a depiction of the desired configuration of the modified Premises. Tenant’s right to modify the Premises is subject 2019, as to the following terms and conditions: (i) the total Rentable Area of the Premises following such modification shall not be less than 92,000 rentable square feet, (ii) the Second Floor Premises may be increased to include part or all of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”), (iii) the configuration of each increment of the Premises must be permitted by applicable laws regarding exiting, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a Phase 1 portion of the Initial Expansion AreaPremises and December 31, 2019, as to the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators, and (vi) if Tenant surrenders a Phase 2 portion of the Premises on any floor, Expansion Premises. Landlord shall use commercially reasonable efforts to enforce such agreement and deliver the space so surrendered, taken together with the balance phases of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access Expansion Premises to restrooms and elevatorsTenant as soon as practicable thereafter. Landlord may consider such factors as Landlord reasonably deems relevant shall deliver the Expansion Premises in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of the required condition promptly following the Existing Tenant’s proposed configuration vacation and surrender of each phase of the Expansion Premises as depicted in the Premises Modification Noticeand completion of any environmental closure required by Applicable Laws. 799463.04/WLA 377097-00004/5-28-19/ejs/ejs HCP LIFE SCIENCE REIT, Landlord shall provide Tenant with written notice of such disapprovalINC. [First Amendment] [Pulse Biosciences, and Landlord and Tenant shall cooperate in good faith to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease and the Improvement Allowance payable by Landlord pursuant to the Work Letter, based on the Rentable Area of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Premises Modification Notice by the Premises Modification Notice Deadline, Tenant shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premises, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises within thirty (30) days after Landlord provides Tenant with Landlord’s calculation thereof. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding the calculation of the usable square footage of the Premises.Inc.]

Appears in 1 contract

Samples: Lease (Pulse Biosciences, Inc.)

Modification of Premises. Tenant shall have Effective as of December 15, 2020 (the right to increase or decrease the size of the Premises described in the Basic Lease Information and shown on the attached Exhibit A, provided the specific configuration of the modified Premises shall be subject to Landlord’s approval, which shall not be unreasonably withheld, and such modification shall be made in accordance with the terms and conditions of this Section 2.2. If Tenant desires to increase the size of the Second Floor Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises"Expansion Commencement Date"), Tenant shall provide lease from Landlord with written notice and Landlord shall lease to Tenant the Expansion Premises. Tenant hereby acknowledges that Tenant will be in possession of such election the Expansion Premises prior to the Expansion Commencement Date through an assignment agreement of the existing lease agreement between the existing tenant, AtriCure, Inc., a Delaware corporation, and Landlord (the “Premises Modification Notice”) not later than sixty (60) days after the full execution of this "Existing Lease"). The Existing Lease by Landlord and Tenant (the “Premises Modification Notice Deadline”)is scheduled to expire on December 14, which Premises Modification Notice shall include a depiction of the desired configuration of the modified Premises. Tenant’s right to modify the Premises is subject to the following terms and conditions: (i) the total Rentable Area of the Premises following such modification shall not be less than 92,000 rentable square feet, (ii) the Second Floor Premises may be increased to include part or all of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”), (iii) the configuration of each increment of the Premises must be permitted by applicable laws regarding exiting, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a portion of the Initial Expansion Area, the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators2020, and (vi) if Tenant surrenders a portion of the Premises on any floor, the space so surrendered, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of Tenant’s proposed configuration of the Premises as depicted in the Premises Modification Noticeaccordingly, Landlord shall provide Tenant with written notice of such disapproval, and Landlord and Tenant shall cooperate in good faith have no affirmative obligation to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease and the Improvement Allowance payable by Landlord pursuant to the Work Letter, based on the Rentable Area of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Expansion Premises Modification Notice by the Premises Modification Notice Deadlineto Tenant, Tenant shall have no further rights affirmative surrender or restoration obligations under this Section 2.2. If Tenant desires to verify the usable square footage Existing Lease, including Sections 5.3.3, 5.3.4, 8.2, and 23.1 and Articles 15 and 22, and Tenant’s continued possession of the modified PremisesExpansion Premises shall in no way be deemed a holdover under the Existing Lease. Notwithstanding the foregoing, Tenant shall cause Landlord agrees to return Tenant’s architect to verify security deposit under the measurement Existing Lease in the amount of the usable square footage of the modified Premises $79,880 within thirty (30) days after Landlord provides of the Expansion Commencement Date, regardless of the condition or state of the Expansion ./ -/// [Revolution Medicines, Inc.] Premises at such time. The date upon which Tenant with Landlord’s calculation thereoftakes possession of the Expansion Premises under the Existing Lease shall be the "Expansion Possession Date." Consequently, effective upon the Expansion Commencement Date, the Existing Premises shall be increased to include the Expansion Premises. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding the calculation hereby acknowledge that such addition of the usable square footage Expansion Premises to the Existing Premises shall, effective as of the Expansion Commencement Date, increase the size of the Premises to approximately 61,399 RSF. The Existing Premises and the Expansion Premises may hereinafter collectively be referred to as the "Premises.". All references in the Lease, as amended, to the Building shall mean (i) the 700 Building when the context applies to the 700 Building or any portion of the Premises located in the 700 Building, (ii) the 300 Building when the context applies to the 300 Building or any portion of the Premises located in the 300 Building, and (iii) both the 700 Building and the 300 Building when the context applies to both of such buildings.

Appears in 1 contract

Samples: Lease (Revolution Medicines, Inc.)

Modification of Premises. In connection with any remodeling of all or any portion of the Hotel, Landlord shall have the right to change the dimensions or reduce the size of the Premises. If a proposed reduction in the size of the Premises would result in the Premises being less than eighty-five percent (85%) of its original size, or if, as a result thereof, the remaining portion of the Premises would not be suitable for the conduct of Tenant's permitted business hereunder, Tenant shall have the right to increase or decrease the size of the Premises described in the Basic Lease Information and shown on the attached Exhibit A, provided the specific configuration of the modified Premises shall be subject to Landlord’s approval, which shall not be unreasonably withheld, and such modification shall be made in accordance with the terms and conditions of this Section 2.2. If Tenant desires to increase the size of the Second Floor Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with written notice of such election (the “Premises Modification Notice”) not later than sixty (60) days after the full execution of terminate this Lease by Landlord and Tenant (the “Premises Modification Notice Deadline”), which Premises Modification Notice shall include a depiction of the desired configuration of the modified Premises. Tenant’s right to modify the Premises is subject to the following terms and conditions: (i) the total Rentable Area of the Premises following such modification shall not be less than 92,000 rentable square feet, (ii) the Second Floor Premises may be increased to include part or all of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”), (iii) the configuration of each increment of the Premises must be permitted by applicable laws regarding exiting, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a portion of the Initial Expansion Area, the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators, and (vi) if Tenant surrenders a portion of the Premises on any floor, the space so surrendered, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of Tenant’s proposed configuration of the Premises as depicted in the Premises Modification Notice, Landlord shall provide Tenant with written notice of such disapproval, and to Landlord and Tenant shall cooperate in good faith to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease and the Improvement Allowance payable by Landlord pursuant to the Work Letter, based on the Rentable Area of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Premises Modification Notice by the Premises Modification Notice Deadline, Tenant shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premises, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises given within thirty (30) days after Landlord provides notifies Tenant of Landlord's intention to remodel. A termination by Tenant hereunder shall be effective thirty (30) days after the notice of termination is given to Landlord unless, within such thirty (30) day period, Landlord elects to relocate the Premises pursuant to Section 1.2 hereof or to rescind its decision to remodel the Premises. In the event of any remodeling pursuant to this Section 1.3, Landlord shall repair any resulting damage to the Premises. In connection with Landlord’s calculation thereofany such remodeling, Landlord may require Tenant to cease conducting business from the Premises for up to thirty (30) days. Rent shall be abated during any period that Landlord requires Tenant to cease conducting business, and Tenant Base Rent shall use good faith efforts be reduced in proportion to resolve any dispute regarding reduction in the calculation floor area of the usable square footage of the PremisesPremises hereunder. Upon any termination by Tenant hereunder, Landlord shall reimburse Tenant for Tenant's Unamortized Costs.

Appears in 1 contract

Samples: Lease Agreement (Il Fornaio America Corp)

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Modification of Premises. Effective as of the later to occur of (i) January 1, 2024, and (ii) the “Possession Date” (defined below) (such date, the "Third Expansion Commencement Date"), Tenant shall lease from Landlord and Landlord shall lease to Tenant the [Revolution Medicines, Inc.] Third Expansion Premises. Landlord shall be deemed to have tendered possession of the right Third Expansion Premises to Tenant upon the date that Landlord provides Tenant with a key or access card to the Third Expansion Premises (the "Possession Date"), and no action by Tenant shall be required therefor. If for any reason, Landlord is delayed in tendering possession of the Third Expansion Premises to Tenant by any particular date, Landlord shall not be subject to any liability for such failure, and the validity of this Lease shall not be impaired, but Tenant shall not be obligated to pay Rent until the Possession Date occurs. Consequently, effective upon the Third Expansion Commencement Date, the Existing Premises shall be increased to include the Third Expansion Premises. Landlord and Tenant hereby acknowledge that such addition of the Third Expansion Premises to the Existing Premises shall, effective as of the Third Expansion Commencement Date, increase or decrease the size of the Premises described to approximately 142,811 RSF. The Existing Premises and the Third Expansion Premises may hereinafter collectively be referred to as the "Premises." All references in the Basic Lease Information and shown on the attached Exhibit ALease, provided the specific configuration of the modified Premises shall be subject to Landlord’s approvalas amended, which shall not be unreasonably withheld, and such modification shall be made in accordance with the terms and conditions of this Section 2.2. If Tenant desires to increase the size of the Second Floor Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with written notice of such election (the “Premises Modification Notice”) not later than sixty (60) days after the full execution of this Lease by Landlord and Tenant (the “Premises Modification Notice Deadline”), which Premises Modification Notice shall include a depiction of the desired configuration of the modified Premises. Tenant’s right to modify the Premises is subject to the following terms and conditions: Building shall mean (i) the total Rentable Area 700 Building when the context applies to the 700 Building or any portion of the Premises following such modification shall not be less than 92,000 rentable square feetlocated in the 700 Building, (ii) the Second Floor Premises may be increased 300 Building when the context applies to include part the 300 Building or all any portion of the area labeled “Initial Expansion Area” on attached Exhibit A (Premises located in the “Initial Expansion Area”)300 Building, (iii) the configuration of each increment 800 Building when the context applies to the 700 Building or any portion of the Premises must be permitted by applicable laws regarding exitinglocated in the 800 Building, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a portion of 900 Building when the Initial Expansion Area, context applies to the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators, and (vi) if Tenant surrenders a 900 Building or any portion of the Premises on any floor, the space so surrendered, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of Tenant’s proposed configuration of the Premises as depicted located in the Premises Modification Notice, Landlord shall provide Tenant with written notice of such disapproval900 Building, and Landlord and Tenant shall cooperate in good faith to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state each of the Base Rent payable by Tenant under this Lease 700 Building, the 300 Building, the 800 Building and the Improvement Allowance payable by Landlord pursuant 900 Building when the context applies to the Work Letter, based on the Rentable Area each of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Premises Modification Notice by the Premises Modification Notice Deadline, Tenant shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premises, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises within thirty (30) days after Landlord provides Tenant with Landlord’s calculation thereof. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding the calculation of the usable square footage of the Premisessuch buildings.

Appears in 1 contract

Samples: Lease (Revolution Medicines, Inc.)

Modification of Premises. Effective as of the date which is six (6) months following the later of (a) July 1, 2020 and (b) the date upon which Landlord delivers all of the Third Expansion Premises to Tenant in the condition required by this Third Amendment (the "Third Expansion Commencement Date"), Tenant shall have lease from Landlord and Landlord shall lease to Tenant the right Third Expansion Premises. Landlord anticipates delivering and shall use commercially reasonable efforts to deliver possession of the Third Expansion Premises to Tenant on or about July 1, 2020. Consequently, effective upon the Third Expansion Commencement Date, the Existing Premises shall be increased to include the Third Expansion Premises. Landlord and Tenant hereby acknowledge that notwithstanding any provision to the contrary contained in the Lease, such addition of the Third Expansion Premises to the Existing Premises shall, effective as of the Third Expansion Commencement Date, increase or decrease the size of the Premises described to approximately 106,414 rentable square feet. The Existing Premises and the Third Expansion Premises may hereinafter collectively be referred to as the "Premises". Effective as of the Third Expansion Commencement Date, all references in the Basic Lease Information and shown on the attached Exhibit ALease, provided the specific configuration of the modified Premises shall be subject to Landlord’s approvalas amended, which shall not be unreasonably withheld, and such modification shall be made in accordance with the terms and conditions of this Section 2.2. If Tenant desires to increase the size of the Second Floor Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with written notice of such election (the “Premises Modification Notice”) not later than sixty (60) days after the full execution of this Lease by Landlord and Tenant (the “Premises Modification Notice Deadline”), which Premises Modification Notice shall include a depiction of the desired configuration of the modified Premises. Tenant’s right to modify the Premises is subject to the following terms and conditions: Building shall mean (i) Building E when the total Rentable Area context applies to Building E or any portion of the Premises following such modification shall not be less than 92,000 rentable square feetlocated in Building E, (ii) Building J when the Second Floor Premises may be increased context applies to include part Building J or all any portion of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”)Premises located in Building J, (iii) Building F when the configuration of each increment of the Premises must be permitted by applicable laws regarding exiting, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a portion of the Initial Expansion Area, the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access context applies to restrooms and elevators, and (vi) if Tenant surrenders a Building F or any portion of the Premises on any floorlocated in Building F, and (iv) each of Building E, Building J and Building F when the context applies to all of such buildings; provided; however, if casualty damage affects only one Building, the space so surrendered, taken together with the balance termination rights of the then-unleased space on parties under Article 11 of the floor, Original Lease shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access apply only to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of Tenant’s proposed configuration the portion of the Premises in such Building (in which event the rent, security deposit and other amounts herein related to square footage and the definition of "Building" shall be correspondingly revised) and after the expiration of the Lease Term as depicted to the Existing Premises, the Building shall mean only Building F and the Premises shall mean only the Third Expansion Premises. Notwithstanding the foregoing, if Landlord has not delivered possession of the Third Expansion Premises in the Premises Modification Notice“Delivery Condition” (as that term is defined in Section 1 of Exhibit B), Landlord on or before (a) October 1, 2020, then, as Tenant's sole remedy for such delay, other than the right to specific performance, the date Tenant is otherwise obligated to commence payment of rent as to the Third Expansion Space shall provide be delayed by one (1) day for each two (2) days that the delivery date is delayed beyond such date, or (b) January 1, 2021, then Tenant with shall also have the right to terminate this Third Amendment by written notice of such disapprovalthereof to Landlord, and whereupon any monies previously paid or deliveries previously made by Tenant to Landlord and Tenant under this Third Amendment shall cooperate in good faith be promptly returned to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment dates shall be extended to the extent of any delays in delivery of possession caused by (ia) modify the description of the Second Floor Premises, Third Floor PremisesTenant delays, or Fourth Floor Premises, as applicable, (iib) confirm the Rentable Area events of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA Force Majeure (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, which Force Majeure delays shall not exceed ninety (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease and the Improvement Allowance payable by Landlord pursuant to the Work Letter, based on the Rentable Area of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Premises Modification Notice by the Premises Modification Notice Deadline, Tenant shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premises, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises within thirty (3090) days after Landlord provides Tenant with Landlord’s calculation thereof. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding in the calculation of the usable square footage of the Premisesaggregate).

Appears in 1 contract

Samples: Lease (Arcus Biosciences, Inc.)

Modification of Premises. Effective as of January 1, 2020 (the “Expansion Commencement Date”), Tenant shall have lease from Landlord and Landlord shall lease to Tenant the right Expansion Premises. Consequently, effective upon the Expansion Commencement Date, the Existing Premises shall be increased to include the Expansion Premises. Landlord and Tenant hereby acknowledge that such addition of the Expansion Premises to the Existing Premises shall, effective as of the Expansion Commencement Date, increase or decrease the size of the Premises described to 96,944 rentable square feet. The Existing Premises and the Expansion Premises may hereinafter collectively be referred to as the “Premises”. Notwithstanding anything to the contrary set forth in this Section 2, Tenant hereby acknowledges that the Expansion Premises are currently occupied by AIG Claims, Inc. (“AIG”), and if Tenant and AIG do not enter into the “AIG Sublease,” as that term is defined in Section 3.3, below, and AIG holds over in the Basic Lease Information and shown on the attached Exhibit AExpansion Premises past December 31, provided the specific configuration of the modified Premises 2019, then Tenant's sole remedy shall be subject to Landlord’s approvala day-for-day abatement of Base Rent for the Expansion Premises for the number of days from January 1, which shall not be unreasonably withheld, and such modification shall be made in accordance with 2020 until the terms and conditions of this Section 2.2. If Tenant desires to increase date that Landlord recovers the size of the Second Floor Expansion Premises or the Fourth Floor Premises, or to decrease the size of the Second Floor Premises, the Third Floor Premises, or the Fourth Floor Premises, Tenant shall provide Landlord with written notice of such election from AIG (the “Premises Modification Notice”) not later than sixty (60) days after the full execution of this Lease by Landlord and Tenant (the “Premises Modification Notice DeadlineAbatement Remedy”), which Premises Modification Notice . Such abatement shall include a depiction commence immediately following the expiration of the desired configuration Rent Abatement Period and such applicable abatement amount shall be credited against Base Rent for the Expansion Premises until exhausted in full. For avoidance of doubt, if Tenant and AIG enter into the modified Premises. AIG Sublease, but AIG fails to timely surrender the Expansion Premises to Tenant under the AIG Sublease, the same shall be Tenant’s right to modify the Premises is subject sole responsibility and under no circumstance shall Tenant be entitled to the following terms and conditions: (iAbatement Remedy. 798514 .04/WLA [Third Amendment) the total Rentable Area of the Premises following such modification shall not be less than 92,000 rentable square feet888888-00019 / 5-6- 19 /ctl/c tl [AssetMark, (ii) the Second Floor Premises may be increased to include part or all of the area labeled “Initial Expansion Area” on attached Exhibit A (the “Initial Expansion Area”), (iii) the configuration of each increment of the Premises must be permitted by applicable laws regarding exiting, (iv) space included in the Premises on each floor shall be reasonably contiguous, (v) if Tenant leases a portion of the Initial Expansion Area, the balance of the Initial Expansion Area not leased by Tenant, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators, and (vi) if Tenant surrenders a portion of the Premises on any floor, the space so surrendered, taken together with the balance of the then-unleased space on the floor, shall in Landlord’s reasonable judgment be readily leaseable for general office purposes with legal exiting and access to restrooms and elevators. Landlord may consider such factors as Landlord reasonably deems relevant in determining whether space is readily leaseable for general office purposes, including, without limitation, whether it is less than 2,000 feet, is of an unusual configuration, or consists entirely of interior space (i.e., without windows). If Landlord disapproves of Tenant’s proposed configuration of the Premises as depicted in the Premises Modification Notice, Landlord shall provide Tenant with written notice of such disapproval, and Landlord and Tenant shall cooperate in good faith to identify a configuration which is acceptable to both Landlord and Tenant. Upon Landlord’s approval of Tenant’s desired modification of the Premises, Landlord and Tenant shall execute an amendment to this Lease, which amendment shall (i) modify the description of the Second Floor Premises, Third Floor Premises, or Fourth Floor Premises, as applicable, (ii) confirm the Rentable Area of the Premises as so modified, as reasonably determined by Landlord in accordance with BOMA (ANSI Z65.1-1996), using the Approved Load Factors established pursuant to Section 1.18 above, (iii) confirm Tenant’s Percentage Share based on the modified Rentable Area of the Premises, (iv) replace Exhibit A to this Lease with a substitute exhibit depicting the modified Premises, (v) state the Base Rent payable by Tenant under this Lease and the Improvement Allowance payable by Landlord pursuant to the Work Letter, based on the Rentable Area of the modified Premises, and (vi) confirm the recalculated amount of the Security Deposit pursuant to Section 4.7 below. If Tenant does not deliver the Premises Modification Notice by the Premises Modification Notice Deadline, Tenant shall have no further rights under this Section 2.2. If Tenant desires to verify the usable square footage of the modified Premises, Tenant shall cause Tenant’s architect to verify the measurement of the usable square footage of the modified Premises within thirty (30) days after Landlord provides Tenant with Landlord’s calculation thereof. Landlord and Tenant shall use good faith efforts to resolve any dispute regarding the calculation of the usable square footage of the Premises.Inc.]

Appears in 1 contract

Samples: Office Lease (AssetMark Financial Holdings, Inc.)

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