Premises and Term Sample Clauses
The "Premises and Term" clause defines the specific property or space being leased and establishes the duration of the lease agreement. It typically identifies the address or description of the premises and sets out the start and end dates of the lease term, including any options for renewal or extension. This clause ensures both parties are clear about what is being leased and for how long, thereby preventing disputes over occupancy rights and lease duration.
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Premises and Term a. Landlord, in consideration of the Rent hereinafter reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant, and Tenant hereby leases and hires from Landlord, the Project. Upon the Commencement Date for Phase 1, Tenant shall be entitled to the exclusive use and occupancy of Phase 1 and that portion of the Parking Area allocated for Phase 1 plus such spaces in addition to the spaces allocated for Phase 1, if any, that may be constructed by Landlord at the time, so long as Tenant’s use of such spaces in addition to the spaces allocated for Phase 1 does not interfere with the construction of the remainder of the Project by Landlord. Upon the Commencement Date for Phase 2, Tenant shall be entitled to the exclusive use and occupancy of Phase 2 and the entire Parking Area, and at which time Tenant will have the exclusive use and occupancy of the entire Project.
b. Promptly after the actual Commencement Date for each Phase, the parties shall execute an instrument in which the Commencement Date and expiration date for such Phase will be specified, as well as any adjustments to the Rentable Area of the Premises as described above and any corresponding adjustments to the Base Rent.
c. Notwithstanding anything to the contrary contained in this Lease, although Landlord has estimated a completion date for Phase 1 of October 1, 1999, the parties agree that if Landlord has not achieved Substantial Completion of Phase 1 on or before November 1, 1999 (the “Phase 1 Completion Date”) (subject to any Tenant Delays and Force Majeure events, as hereinafter defined), then, commencing on November 1, 1999, Tenant shall receive a credit against the Base Rent to become due under this Lease in connection with Phase 1, such credit to be equal to one (1) day’s Base Rent for Phase 1 for each day of Landlord’s delay beyond the Phase 1 Completion Date that Landlord has not achieved Substantial Completion, subject to the limitations thereon pursuant to subsection (m), below.
d. If Landlord has not achieved Substantial Completion of Phase 1 on or before November 15, 1999 (the “Phase 1 Extended Completion Date”) (subject to any Tenant Delays and Force Majeure events), then, commencing on November 16, 1999, the Base Rent credit available to Tenant for Phase 1 shall be increased to two (2) days’ Base Rent for each day of Landlord’s delay beyond the Phase 1 Extended Completion Date that Landlord has not ...
Premises and Term. A. In consideration of the obligation of Tenant to pay rent as herein provided, and in consideration of the other terms, provisions and covenants hereof, Landlord hereby demises and leases to Tenant, and Tenant hereby takes and leases from Landlord those certain Premises as outlined in red on Exhibit "A" attached hereto (hereinafter referred to as the "Premises") and incorporated herein by reference, together with all rights, privileges, easements, appurtenances, and amenities belonging to or in any way pertaining to the Premises and together with the buildings and other improvements situated or to be situated upon land described in Exhibit "B" attached hereto.
B. TO HAVE AND TO HOLD the same for a term commencing on the "Commencement Date", as hereinafter declined, and ending thereafter as specified in the Basic Lease Information, attached hereto, (the "Lease Term"), provided, however, that, in the event the "Commencement Date" is a date other than the first day of a calendar month, said term shall extend for said number of months in addition to the remainder of the calendar month following the "Commencement Date".
Premises and Term. 2 2.1 Premises........................................................ 2 2.2
Premises and Term. In consideration of the mutual obligations of Landlord and Tenant set forth herein, Landlord leases to Tenant, and Tenant hereby takes from Landlord, certain leased premises situated within the County of ▇▇▇▇▇▇, State of Texas, as more particularly described on EXHIBIT "A" attached hereto and incorporated herein by reference (the "Premises"), to have and to hold, subject to the terms, covenants and conditions in this Lease. The term of this Lease shall commence on the Commencement Date hereinafter set forth and shall end on the last day of the month that is Sixty (60) months after the Commencement Date.
Premises and Term. Section 1.1. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord those certain premises consisting of approximately 34,464 rentable square feet located in the building (the “1020 Building”) located at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, Menlo Park, California (the “1020 Space”) and those certain premises consisting of approximately 17,432 rentable square feet located on the second (2nd) floor of the building (the “1060 Building”) located at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, Menlo Park, California (the “1060 Space”) (collectively, the “Premises”) shown on Exhibit “A-1”, attached hereto and incorporated herein by this reference.
Section 1.2. The demised term of this Lease shall be for a period of ninety three (93) months (plus any partial period prior to the commencement of the first full calendar month), unless sooner terminated as hereinafter provided, and shall commence on the Commencement Date described in Section 1.3 and shall end on the last day of the ninety third (93rd) full calendar month after the Commencement Date. Notwithstanding anything to the contrary contained herein, Tenant shall have the right to elect to terminate this Lease with respect to the 1060 Space (“Tenant’s Termination Option”) upon written notice delivered to Landlord no later than by October 31, 2017. In the event Tenant fails to deliver notice exercising Tenant’s Termination Option by October 31, 2017, then Tenant’s right to said option shall lapse, Tenant’s Termination Option shall be null and void and this Lease shall remain in full force and effect with respect to the entire Premises. In the event Tenant timely exercises Tenant’s Termination Option, then all provisions in this Lease specific to the 1060 Space shall be deemed void effective as of delivery of Tenant’s termination notice, all references to the Premises shall be deemed to only refer to the 1020 Space and all references to the building or buildings shall be deemed to only refer to the 1020 building, no Basic Rent or Additional Rent with respect to the 1060 Space shall be due, and the demised term of this Lease shall be reduced to a demised term of eighty six (86) months (plus any partial period prior to the commencement of the first full calendar month), unless sooner terminated as hereinafter provided, and accordingly shall end on the last day of the eighty sixth (86th) full calendar month after the Commencement Date. Notwithstanding anything to the contrary in this Lease, Landlord shall deliver possession of the Premises with ...
Premises and Term. Premises - LANDLORD hereby leases to TENANT and TENANT hereby leases from LANDLORD, subject to and with the benefit of the terms, covenants, conditions and provisions of this Lease, the premises shown on Exhibit "A" and described in Exhibit "B", both annexed hereto and made a part hereof, together with any and all improvements, appurtenances, rights, privileges and easements befitting, belonging or pertaining thereto and a building no greater than 4,000 square feet, so long as such building is within the perimeter of the leased premises as shown on Exhibit "A".
Premises and Term. Landlord leases to Tenant the following real estate, situated in County, Iowa:
Premises and Term. 11 2.1 Premises............................................................................11 2.2
Premises and Term. 1.1. Subject to all of the terms and conditions hereof, ASI hereby provides to Logility, and Logility hereby accepts from ASI, (i) the exclusive right to use each of the Premises identified in Schedule I as exclusive to Logility, and (ii) the non-exclusive right to use in common with ASI each of the Premises identified in Schedule I as non-exclusive. In addition to the Premises identified in Schedule I, ASI may from time to time, provide Logility the right to use additional office facilities; provided, that the use of such facilities, as well as the other terms and conditions applicable to Logility's use thereof, shall be as mutually agreed in writing by ASI and Logility. Upon such agreement, all such office facilities shall be included in the term "Premises" for purposes of this Agreement.
1.2. The term of this Agreement (the "Initial Term") shall be for a period of two years commencing on the Effective Date, and ending on midnight of the date immediately preceding the second anniversary of the Effective Date (the "Expiration Date"), unless sooner terminated as hereinafter provided; provided, however, notwithstanding anything to the contrary in this Section 1, this Agreement may be terminated prior to the Expiration Date, as may be hereinafter extended, in accordance with Section 8 below.
1.3. Unless this Agreement has been sooner terminated pursuant to Section 8 below, and provided Logility is not then in default under the terms of this Agreement, the Initial Term shall be automatically extended for additional successive period(s) of one year each (each such period, a "Renewal Term" and, together with the Initial Term, the "Term"), beginning on the date immediately following the Expiration Date of the Initial Term or Renewal Term then in effect, upon the same terms, conditions, covenants and provisions as are provided in this Agreement.
Premises and Term. (a) Landlord hereby rents and leases to Tenant, and Tenant hereby rents and leases from Landlord, the following described space (the "Premises"):