Must Take Premises. The Initial Premises shall be expanded to include the Must Take Premises on the terms and conditions set forth in this Section 2.3. The term of Tenant’s lease of the Must Take Premises shall commence on the date that Landlord delivers possession of the Must Take Premises to Tenant with Landlord’s Work in the Must Take Premises Substantially Completed (the “Must Take Commencement Date”). Tenant acknowledges and agrees that the Must Take Premises is currently leased to a third party (the “Existing Tenant”) which lease (the “Existing Lease”) does not expire until December 31, 2008 and Landlord shall not commence construction of the Landlord’s Work until the Existing Lease terminates and the Existing Tenant vacates the Must Take Premises. Except as provided in Section 1.1 above, Landlord shall have no liability to Tenant for any loss or damage, nor shall Tenant be entitled to terminate or cancel this Lease if the Existing Tenant does not timely vacate the Must Take Premises, and the validity of this Lease shall not be impaired under such circumstances. The term of Tenant’s lease of the Must Take Premises shall expire on the Expiration Date. From and after the Must Take Commencement Date, (a) all references in this Lease to the term “Premises” shall be deemed to refer to the Initial Premises together with the Must Take Premises, (b) except as provided in this Section 2.3, all terms and conditions of the Lease shall apply to the Must Take Premises as though the Must Take Premises was originally part of the Initial Premises, (c) the Base Rent for the Must Take Premises shall be as set forth in Section 10.2 of the Summary, and (d) Tenant’s Pro Rata Share with respect to the Must Take Premises shall be as set forth in Section 1.6 of Exhibit B to this Lease. Additionally, Tenant acknowledges that Landlord has not made any representation or warranty with respect to the condition of the Must Take Premises, the Building or the Project with respect to the suitability or fitness of any of the same for the conduct of Tenant’s permitted use, its business or for any other purpose except as specifically set forth elsewhere in this Lease or the Work Letter.
Must Take Premises. In lieu of the Notice of Delivery and Lease Term Dates contemplated in Section 2.1 and Exhibit C of the Lease, Landlord and Tenant hereby confirm the following with respect to the Must-Take Premises.
Must Take Premises. The Initial Premises shall be expanded to include the "Must-Take Space," as that term is defined in Section 1.4.1, below, pursuant to the provisions of this Section 1.4 and this Lease.
Must Take Premises. The Term of the Lease (and the commencement of Rent) as to the Must Take Premises consisting of 11,106 rentable square feet as outlined on the attached Exhibit A (revised) shall commence upon the earlier of: (i) Tenant's actual move in of personnel to the Must Take Premises, or (ii) November 14, 1997.
Must Take Premises. (A) The Must Take Premises is comprised of the First Must Take Premises, the Second Must Take Premises and the Third Must Take Premises. Each Premises Component of the Must Take Premises shall be added to and become part of the Premises on the date specified in Exhibit K as the Anticipated Delivery Date therefor, or upon such later date upon which Landlord delivers vacant possession of the pertinent Must Take Premises. The terms and conditions which shall apply to such Must Take Premises are as set forth in Exhibit K, and otherwise as provided in this Lease.
Must Take Premises. Effective as of Must-Take Commencement Date, Tenant shall accept delivery of the Must-Take Premises from Landlord and the Must-Take Premises shall become part of the Premises for all purposes hereunder, and all references in this Lease to the “Premises” shall thereafter include the Must-Take Premises. Tenant’s obligation to pay Basic Rent for the Must-Take Premises, and to pay Tenant’s Proportionate Share of any increase in Operating Costs and Taxes (as those terms are defined in Section 4. below) with respect to the Must-Take Premises, shall commence on the Must-Take Commencement Date.
Must Take Premises. The Term of the Lease (and the commencement of Rent) as to the "Must Take Premises" consisting of 13,500 rentable square feet as outlined on the attached Exhibit A shall commence
Must Take Premises. Each time during the Term of this Lease that the term of either Abbott Lease expires, the applicable portion of the Abbott Premises (“Must Take Premises”) shall automatically be added to and become a part of the Premises hereunder for the remaining Term of this Lease at the following triple net rental rates (it being agreed that the Lease Years noted in the chart below shall correspond with the Lease Years for the initial Premises leased hereunder such that if the Must Take Premises for Building A becomes a part of the Premises during Lease Year 3 for the initial Premises, then the initial rental rate payable by Tenant with respect to such Must Take Premises shall be $1.84 per square foot of rentable area and the same shall escalate on the same Base Rent Adjustment Date as is applicable with respect to the Premises): Must Take Space Base Rent Table Building AOffice Building BLab RSF 54,042 RSF 70,419 RSF Annual Increases 2.50% 2.50% $/SF/Mo $/Year $/SF/Mo $/Year Year 1 $1.75 $1,134,882 $2.50 $2,112,570 Year 2 $1.79 $1,163,254 $2.56 $2,165,384 Year 3 $1.84 $1,192,335 $2.63 $2,219,519 Year 4 $1.88 $1,222,144 $2.69 $2,275,007 Year 5 $1.93 $1,252,697 $2.76 $2,331,882 Year 6 $1.98 $1,284,015 $2.83 $2,390,179 Year 7 $2.03 $1,316,115 $2.90 $2,449,934 Year 8 $2.08 $1,349,018 $2.97 $2,511,182 Year 9 $2.13 $1,382,744 $3.05 $2,573,961 Year 10 $2.19 $1,417,312 $3.12 $2,638,310 Year 11 $2.24 $1,452,745 $3.20 $2,704,268 Year 12 $2.30 $1,489,064 $3.28 $2,771,875 Year 13 $2.35 $1,526,290 $3.36 $2,841,172 Year 14 $2.41 $1,564,447 $3.45 $2,912,201 Year 15 $2.47 $1,603,559 $3.53 $2,985,006 Total $20,350,621 $37,882,450 33 The Must Take Premises shall be accepted by Tenant in its as-is condition as of the date that the applicable Must-Take Premises becomes part of the Premises; provided, however, that if on such date when the applicable Must-Take Premises becomes part of the Premises (i) any of the Systems in such Must-Take Premises is not in good operating condition, Landlord shall, at Landlord’s sole cost and expense and not as a reimbursable Expense, repair such System(s) so that such System(s) is/are in good operating condition, and (ii) the structural elements of the Must-Take Premises have deteriorated, other than as a result of normal wear and tear during the term of the Abbott Leases, from their condition as of the Commencement Date (as evidenced by property condition reports obtained by Landlord, copies of which shall be provided to Tenant) (“Baseline Condition”) suc...
Must Take Premises. A. The parties acknowledge that the Must-Take Premises are presently leased to another tenant (the “DFCI”) pursuant to a lease (the “DFCI Lease”) that is scheduled to expire on March 31, 2026. Therefore, the Must-Take Premises may not become available for lease for Tenant during the Term of this Lease. However, DFCI has a right to terminate the DFCI Lease with respect to the Must-Take Premises prior to such scheduled expiration date, as more particularly set forth in the DFCI Lease. If DFCI exercises such termination option or if the Must-Take Premises otherwise become available to lease to Tenant, Tenant desires to lease the Must-Take Premises from Landlord and Landlord desires to lease the Must-Take Premises to Tenant, on the terms and conditions hereinafter set forth and subject to the Prior Rights (as hereinafter defined).
Must Take Premises. (A) The Must Take Premises is comprised of the individual Premises Components set forth on Exhibit B-2. Each Premises Component of the Must Take Premises shall be added to and become part of the Premises on the date specified in Exhibit B-2 as the Commencement Date therefor (as determined in accordance with the terms and conditions of Exhibit C). The terms and conditions which shall apply to such Must Take Premises are as set forth in Exhibit B-2, and otherwise as provided in this Lease.
