Common use of Premises; Term Clause in Contracts

Premises; Term. Subject to the terms and conditions set forth herein, Landlord hereby leases and demises to Tenant and Tenant hereby takes and leases from Landlord that certain space identified in Article 1(D) and shown on a plan attached hereto as Exhibit A ("Premises") for a term ("Term") commencing on the Commencement Date and ending on the Expiration Date set forth in Article 1 (The "Original Term"), unless sooner terminated or extended as provided herein. The square footage in the Premises and the Building, as set forth in Article 1(D), have been determined by Landlord's architect, calculated in accordance with the ANSI/BOMA Z 95.1 (1996) method of measurement modified for biotech use, the results of which Tenant hereby confirms Tenant shall have the right to review and confirm such measurements before the date of execution of this Lease. Such determination of square footage shall be binding upon both parties hereto and such determined square footage shall be used in all calculations based on square footage throughout this Lease. The Commencement Date, the Rent Commencement Date and the Expiration Date shall be confirmed by execution of the Rent Commencement Date Confirmation in the form as set forth in Exhibit E, which Tenant shall execute and return to Landlord within ten (10) business days after receipt thereof. If Landlord delays delivering possession of the Premises, this Lease shall not be void or voidable except as expressly permitted by the terms hereof, and no damages shall be payable by Landlord. Landlord understands that Tenant has a substantial chemical storage requirement. Landlord has, at Landlord's sole expense, submitted an application (attached hereto as Exhibit K) to the City of Cambridge Licensing Commission to amend its existing garage and gasoline license to allow Tenant's flammable materials to be stored within the Premises ("Flammables License") provided that Tenant shall construct adequate Control Areas (as defined in Exhibit C) to contain such flammable materials, that Tenant shall obtain and maintain a flammable storage permit from the Cambridge Fire Department to store such flammable materials within its Control Areas and that Tenant's storage of its flammable materials shall, at all times, be in compliance with all applicable laws, regulations and statutes governing the storage, transport and use of such flammable materials. Tenant shall use its best efforts to cooperate with Landlord in procuring the Flammables License and shall provide Landlord with information pertaining to Tenant's flammable material storage requirements as Landlord may require to obtain the Flammables License. In the event Landlord fails to obtain and deliver to Tenant a copy of its Flammables License on or before June 1, 2005, the Rent Commencement Date shall be extended one day for each day after June 1, 2005, until the date Landlord obtains and delivers the Flammables License to Tenant. Notwithstanding the foregoing, if Landlord fails to deliver the Flammables License by July 15, 2005, either Landlord or Tenant shall have the right to terminate this Lease (the "Flammables License Contingency") to be exercised by delivery of written notice of its election to the opposite party on or prior to August 15, 2005, with an effective date of termination fifteen (15) days after the date of delivery of such notice of election to terminate. In the event that Tenant delivers a notice to terminate as provided above, and Landlord then obtains and delivers a copy of the Flammables License to Tenant on or before the effective date of termination, then Tenant's election to terminate shall be nullified and this Lease shall continue in full force and effect. In the event that Landlord delivers a notice to terminate as provided above, and Tenant delivers a waiver of its termination right hereunder on or before the effective date of termination, then Landlord's election to terminate shall be nullified and this Lease shall continue in full force and effect but for said termination right. Notwithstanding anything stated herein to the contrary, Landlord shall have no obligation to expend any monies pursuant to this Lease including, but not limited to, Tenant Improvement Allowance costs or brokerage commissions until such time as the Lease termination rights provided for above have expired or been waived by Tenant.

Appears in 2 contracts

Samples: Lease (Archemix Corp.), Office Lease (Archemix Corp.)

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Premises; Term. Subject to the terms and conditions set forth herein, Landlord hereby leases and demises to Tenant and Tenant hereby takes and leases from Landlord that certain space the Premises identified in Article 1(D) and shown on a plan attached hereto as Exhibit A ("Premises") 1 for a term ("Term") commencing on the Commencement Date and ending on the Expiration Date set forth in Article 1 (The "Original Term")1, unless sooner terminated or extended as provided herein, subject to the provisions herein contained. The square footage in the Premises and the Building, as set forth in Article 1(D), have been determined by LandlordUpon either party's architect, calculated in accordance with the ANSI/BOMA Z 95.1 (1996) method of measurement modified for biotech userequest, the results of which Tenant hereby confirms Tenant shall have the right to review and confirm such measurements before the date of execution of this Lease. Such determination of square footage shall be binding upon both parties hereto and such determined square footage shall be used in all calculations based on square footage throughout this Lease. The Commencement Date, the Rent Commencement Date and the Expiration Date shall be confirmed by execution of the Rent Commencement Date Confirmation in the form as set forth in Exhibit EC. For all purposes of this Lease, which Landlord and Tenant shall execute stipulate that the rentable square footage of the Premises and return to Landlord within ten (10) business days after receipt thereofeach portion thereof is as set forth in Article 1. If Landlord delays delivering IfLandlord, for any reason whatsoever, does not deliver possession of the PremisesPremises to Tenant on the anticipated Commencement Date, this Lease shall not be void or voidable except as expressly permitted by the terms hereof, and no damages Landlord shall not be payable by Landlord. Landlord understands that Tenant has a substantial chemical storage requirement. Landlord has, at Landlord's sole expense, submitted an application (attached hereto as Exhibit K) to the City of Cambridge Licensing Commission to amend its existing garage and gasoline license to allow Tenant's flammable materials to be stored within the Premises ("Flammables License") provided that Tenant shall construct adequate Control Areas (as defined in Exhibit C) to contain such flammable materials, that Tenant shall obtain and maintain a flammable storage permit from the Cambridge Fire Department to store such flammable materials within its Control Areas and that Tenant's storage of its flammable materials shall, at all times, be in compliance with all applicable laws, regulations and statutes governing the storage, transport and use of such flammable materials. Tenant shall use its best efforts to cooperate with Landlord in procuring the Flammables License and shall provide Landlord with information pertaining to Tenant's flammable material storage requirements as Landlord may require to obtain the Flammables License. In the event Landlord fails to obtain and deliver liable to Tenant a copy of its Flammables License on for any loss or before June 1damage resulting therefrom, 2005but in such event, the Rent Commencement Date shall be extended one day for each day after June 1, 2005, postponed until the date on which Landlord obtains and delivers possession of the Flammables License Premises to Tenant; provided, however, if the Commencement Date does not occur on or before January 1, 2013, as such date may be extended by force majeure (as such concept is addressed in Article 25) (such date, as so extended, the "Credit Start Date"), then, as its sole remedy for such delay, Tenant shall receive a rent credit equal to two (2) days of Monthly Rent for each one (1) day during the period which commences on the first day following the Credit Start Date and ends on the Commencement Date. Notwithstanding the foregoing, if the Commencement Date does not occur on or before April I, 2013, as such date may be extended by force majeure (such date, as so extended, the "Trigger Date"), then Tenant may terminate this Lease upon written notice to Landlord fails given within ten (10) calendar days after the Trigger Date. Except with respect to deliver the Flammables License by July 15abatement of Monthly Rent described above in this Article 2, 2005, either Landlord or the foregoing right of Tenant shall have the right to terminate this Lease shall be Tenant's sole remedy for such delay in the Commencement Date. Subject to any temporary shutdown for repairs, for security purposes, for compliance with any Laws (as defined below), or due to strikes, lockouts, labor disputes, fire or other casualty, acts of God, acts of terror, or other causes beyond the "Flammables License Contingency") to be exercised by delivery reasonable control of written notice of its election Landlord, Tenant shall have access to the opposite party on Premises twenty-four (24) hours a day, each day of the Term. Any space in the Premises used for shafts, stacks, pipes, conduits, ducts, electric or prior to August 15other utilities, 2005, with an effective date of termination fifteen (15) days after the date of delivery of such notice of election to terminate. In the event that Tenant delivers a notice to terminate as provided abovesinks or other Building facilities, and Landlord then obtains the use thereof and delivers a copy access thereto through the Premises for the purposes of operation, maintenance and repairs, are reserved to Landlord, and Landlord's access to the Flammables License to Tenant on or before the effective date of termination, then Tenant's election to terminate Premises in connection therewith shall be nullified and this Lease shall continue in full force and effect. In the event that Landlord delivers a notice subject to terminate as provided above, and Tenant delivers a waiver of its termination right hereunder on or before the effective date of termination, then Landlord's election to terminate shall be nullified and this Lease shall continue in full force and effect but for said termination right. Notwithstanding anything stated herein to the contrary, Landlord shall have no obligation to expend any monies pursuant to this Lease including, but not limited to, Tenant Improvement Allowance costs or brokerage commissions until such time as the Lease termination rights provided for above have expired or been waived by TenantArticle 13.

Appears in 1 contract

Samples: Sublease (Aerohive Networks, Inc)

Premises; Term. Subject to the terms and conditions set forth herein, Landlord hereby leases and demises to Tenant Tenant, and Tenant hereby takes and leases from Landlord that certain space identified in Article 1(D) and shown Landlord, the premises as outlined on a the floor plan attached hereto as Exhibit A (herein called "Premises") on the mezzanine level and second floor of the office building located at One Imeson Park Boulevard, Jacksonville, Florida, and known as One Imeson Center (herein called "Building"), for a term (herein called "Initial Term") commencing on the Effective Date (herein also called "Commencement Date") and expiring on the date (herein called the "Expiration Date") that is one (1) day prior to the second anniversary of the Entire Premises Rent Commencement Date and ending on the Expiration Date set forth in Article 1 (The "Original Term"as hereinafter defined), unless sooner terminated or extended as provided herein, paying as rent therefor the sums hereinafter provided, without any setoff, abatement, counterclaim or deduction whatsoever except as specifically provided herein. The square footage in Landlord and Tenant shall execute a document verifying the Floor Commencement Date (as hereinafter defined) for the space located on each floor of the Premises and the Building, Entire Premises Rent Commencement Date. During the Term (as set forth defined in Article 1(Dsubparagraph (b) below), have been determined by Landlord's architect, calculated in accordance with the ANSI/BOMA Z 95.1 (1996) method of measurement modified for biotech use, the results of which Tenant hereby confirms Tenant shall also have the exclusive right to review and confirm such measurements before use up to 1,000 standard parking spaces within the date of execution of this Lease. Such determination of square footage shall be binding upon both parties hereto and such determined square footage shall be used in all calculations based area labeled "Tenant's Parking Area" on square footage throughout this Lease. The Commencement Date, the Rent Commencement Date and the Expiration Date shall be confirmed by execution of the Rent Commencement Date Confirmation in the form as set forth in Exhibit E, which Tenant shall execute and return to Landlord within ten (10) business days after receipt thereof. If Landlord delays delivering possession of the Premises, this Lease shall not be void or voidable except as expressly permitted by the terms hereof, and no damages shall be payable by Landlord. Landlord understands that Tenant has a substantial chemical storage requirement. Landlord has, at Landlord's sole expense, submitted an application (site plan attached hereto as Exhibit K) to the City of Cambridge Licensing Commission to amend its existing garage and gasoline license to allow Tenant's flammable materials to be stored within the Premises ("Flammables License") provided that Tenant shall construct adequate Control Areas (as defined in Exhibit C) to contain such flammable materialsA-1; provided, however, that Tenant shall obtain and maintain a flammable storage permit from the Cambridge Fire Department to store such flammable materials within its Control Areas and that Tenant's storage of its flammable materials shall, at all times, be in compliance with all applicable laws, regulations and statutes governing the storage, transport and use of such flammable materials. Tenant shall use its best efforts to cooperate with Landlord in procuring the Flammables License and shall provide Landlord with information pertaining to Tenant's flammable material storage requirements as Landlord may require to obtain the Flammables License. In the event Landlord fails to obtain and deliver to Tenant a copy of its Flammables License on or before June 1, 2005, the Rent Commencement Date shall be extended one day for each day after June 1, 2005, until the date Landlord obtains and delivers the Flammables License to Tenant. Notwithstanding the foregoing, if Landlord fails to deliver the Flammables License by July 15, 2005, either Landlord or Tenant shall have reserves the right to terminate this Lease restripe and/or reconfigure (the "Flammables License Contingency"but not relocate) to be exercised by delivery of written notice of its election to the opposite party on or prior to August 15, 2005, with an effective date of termination fifteen (15) days after the date of delivery of such notice of election to terminate. In the event that Tenant delivers a notice to terminate as provided above, and Landlord then obtains and delivers a copy of the Flammables License to Tenant on or before the effective date of termination, then Tenant's election Parking Area from time to terminate time so long as Tenant's Parking Area at all times includes no less than 1,000 standard parking spaces and that any such restriping or reconfiguration does not unduly inconvenience Tenant and Tenant's employees, contractors and invitees or materially and adversely affect Tenant's business. For purposes of this Section, "standard parking spaces" shall be nullified and this Lease shall continue in full force and effect. In mean parking spaces sufficiently large to meet the event that Landlord delivers requirements of applicable code, including a notice sufficient number of handicap spaces to terminate as provided above, and Tenant delivers a waiver meet the requirements of its termination right hereunder on or before the effective date of termination, then Landlord's election to terminate shall be nullified and this Lease shall continue in full force and effect but for said termination right. Notwithstanding anything stated herein to the contrary, Landlord shall have no obligation to expend any monies pursuant to this Lease including, but not limited to, Tenant Improvement Allowance costs or brokerage commissions until such time as the Lease termination rights provided for above have expired or been waived by Tenantapplicable code.

Appears in 1 contract

Samples: Office Lease (Excal Enterprises Inc)

Premises; Term. Subject to the terms and conditions set forth herein, Landlord hereby leases and demises to Tenant and Tenant hereby takes and leases from Landlord that certain space the Premises identified in Article 1(D) and shown on a plan attached hereto as Exhibit A ("Premises") 1 for a term ("Term") commencing on the Commencement Date and ending on the Expiration Date set forth in Article 1 (The "Original Term")1, unless sooner terminated or extended as provided herein, subject to the provisions herein contained. The square footage in the Premises and the Building, as set forth in Article 1(D), have been determined by Landlord's architect, calculated in accordance with the ANSI/BOMA Z 95.1 (1996) method of measurement modified for biotech useUpon either party’s request, the results of which Tenant hereby confirms Tenant shall have the right to review and confirm such measurements before the date of execution of this Lease. Such determination of square footage shall be binding upon both parties hereto and such determined square footage shall be used in all calculations based on square footage throughout this Lease. The Commencement Date, the Rent Commencement Date and the Expiration Date shall be confirmed by execution of the Rent Commencement Date Confirmation in the form as set forth in Exhibit EC. For all purposes of this Lease, which Landlord and Tenant shall execute stipulate that the rentable square footage of the Premises and return to Landlord within ten (10) business days after receipt thereofeach portion thereof is as set forth in Article 1. If Landlord delays delivering Landlord, for any reason whatsoever, does not deliver possession of the PremisesPremises to Tenant on the anticipated Commencement Date, this Lease shall not be void or voidable except as expressly permitted by the terms hereof, and no damages Landlord shall not be payable by Landlord. Landlord understands that Tenant has a substantial chemical storage requirement. Landlord has, at Landlord's sole expense, submitted an application (attached hereto as Exhibit K) to the City of Cambridge Licensing Commission to amend its existing garage and gasoline license to allow Tenant's flammable materials to be stored within the Premises ("Flammables License") provided that Tenant shall construct adequate Control Areas (as defined in Exhibit C) to contain such flammable materials, that Tenant shall obtain and maintain a flammable storage permit from the Cambridge Fire Department to store such flammable materials within its Control Areas and that Tenant's storage of its flammable materials shall, at all times, be in compliance with all applicable laws, regulations and statutes governing the storage, transport and use of such flammable materials. Tenant shall use its best efforts to cooperate with Landlord in procuring the Flammables License and shall provide Landlord with information pertaining to Tenant's flammable material storage requirements as Landlord may require to obtain the Flammables License. In the event Landlord fails to obtain and deliver liable to Tenant a copy of its Flammables License on for any loss or before June 1damage resulting therefrom, 2005but in such event, the Rent Commencement Date shall be extended one day for each day after June 1, 2005, postponed until the date on which Landlord obtains and delivers possession of the Flammables License Premises to Tenant; provided, however, if the Commencement Date does not occur on or before January 1, 2013, as such date may be extended by force majeure (as such concept is addressed in Article 25) (such date, as so extended, the “Credit Start Date”), then, as its sole remedy for such delay, Tenant shall receive a rent credit equal to two (2) days of Monthly Rent for each one (1) day during the period which commences on the first day following the Credit Start Date and ends on the Commencement Date. Notwithstanding the foregoing, if the Commencement Date does not occur on or before April 1, 2013, as such date may be extended by force majeure (such date, as so extended, the “Trigger Date”), then Tenant may terminate this Lease upon written notice to Landlord fails given within ten (10) calendar days after the Trigger Date. Except with respect to deliver the Flammables License by July 15abatement of Monthly Rent described above in this Article 2, 2005, either Landlord or the foregoing right of Tenant shall have the right to terminate this Lease shall be Tenant’s sole remedy for such delay in the Commencement Date. Subject to any temporary shutdown for repairs, for security purposes, for compliance with any Laws (as defined below), or due to strikes, lockouts, labor disputes, fire or other casualty, acts of God, acts of terror, or other causes beyond the "Flammables License Contingency") to be exercised by delivery reasonable control of written notice of its election Landlord, Tenant shall have access to the opposite party on Premises twenty-four (24) hours a day, each day of the Term. Any space in the Premises used for shafts, stacks, pipes, conduits, ducts, electric or prior to August 15other utilities, 2005, with an effective date of termination fifteen (15) days after the date of delivery of such notice of election to terminate. In the event that Tenant delivers a notice to terminate as provided abovesinks or other Building facilities, and Landlord then obtains the use thereof and delivers a copy access thereto through the Premises for the purposes of operation, maintenance and repairs, are reserved to Landlord, and Landlord’s access to the Flammables License to Tenant on or before the effective date of termination, then Tenant's election to terminate Premises in connection therewith shall be nullified and this Lease shall continue in full force and effect. In the event that Landlord delivers a notice subject to terminate as provided above, and Tenant delivers a waiver of its termination right hereunder on or before the effective date of termination, then Landlord's election to terminate shall be nullified and this Lease shall continue in full force and effect but for said termination right. Notwithstanding anything stated herein to the contrary, Landlord shall have no obligation to expend any monies pursuant to this Lease including, but not limited to, Tenant Improvement Allowance costs or brokerage commissions until such time as the Lease termination rights provided for above have expired or been waived by TenantArticle 13.

Appears in 1 contract

Samples: Office Lease (Conceptus Inc)

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Premises; Term. Subject to the terms and conditions set forth herein, Landlord hereby leases and demises to the Tenant and Tenant hereby takes and leases from Landlord that certain space the Premises identified in Article 1(D) and shown on a plan attached hereto as Exhibit A ("Premises") 1 for a term ("Term") commencing on the applicable Commencement Date and ending on the Expiration Date set forth in Article 1 (The "Original Term")1, unless sooner terminated or extended as provided herein, subject to the provisions herein contained. The square footage in Subject to the Premises and the Buildingterms of this Lease, as set forth in Article 1(D), have been determined by Landlord's architect, calculated in accordance with the ANSI/BOMA Z 95.1 (1996) method of measurement modified for biotech use, the results of which Tenant hereby confirms Tenant shall have the non-exclusive right to review and confirm such measurements before use the date of execution of this LeaseCommon Areas. Such determination of square footage shall be binding upon both parties hereto and such determined square footage shall be used in all calculations based on square footage throughout this Lease. The Commencement DateUpon either party’s request, the Rent Commencement Date and the Expiration Date shall be confirmed by execution of the Rent Commencement Date Confirmation in the form as set forth in Exhibit EC. Tenant acknowledges that it is currently in possession of all portions of the Premises by means of a direct lease (the “Current Lease”) of certain portions of the Premises from Landlord, which and by means of subleases of certain other portions of the Premises from the current tenant(s) thereof who are under direct lease with Landlord (collectively, the “Current Master Leases”). Accordingly, delivery of each portion of the Premises to Tenant shall execute be deemed to have occurred on the Commencement Date applicable thereto, without any further tender of possession to Tenant or other action on the part of Landlord. For all purposes of this Lease, Landlord and return to Landlord within ten (10) business days after receipt thereof. If Landlord delays delivering possession Tenant stipulate that the rentable square footage of the PremisesPremises and each portion thereof is as set forth in Article 1, this Lease shall not be void or voidable except as expressly permitted by the terms hereof, and no damages shall be payable by Landlord. Landlord understands provided however that Tenant has a substantial chemical storage requirement. Landlord has, at Landlord's sole expense, submitted an application (attached hereto as Exhibit K) to the City of Cambridge Licensing Commission to amend its existing garage and gasoline license to allow Tenant's flammable materials to be stored within the Premises ("Flammables License") provided that Tenant shall construct adequate Control Areas (as defined in Exhibit C) to contain such flammable materials, that Tenant shall obtain and maintain a flammable storage permit from the Cambridge Fire Department to store such flammable materials within its Control Areas and that Tenant's storage of its flammable materials shall, at all times, be in compliance with all applicable laws, regulations and statutes governing the storage, transport and use of such flammable materials. Tenant shall use its best efforts to cooperate with Landlord in procuring the Flammables License and shall provide Landlord with information pertaining to Tenant's flammable material storage requirements as Landlord may require cause Landlord’s architect to obtain re-measure the Flammables License. In rentable area of the event Landlord fails to obtain and deliver to Tenant a copy of its Flammables License Building 5 Premises on or before June 1, 20052010 in accordance with the standard of measurement that Landlord currently utilizes for the Project, which is a modified BOMA standard. If the Rent Commencement Date re-measurement concludes that the Premises contains more or less than 28,000 rentable square feet, then the parties shall be extended one day for each day after June 1, 2005, until the date Landlord obtains and delivers the Flammables License to Tenant. Notwithstanding the foregoing, if Landlord fails to deliver the Flammables License by July 15, 2005, either Landlord or Tenant shall have the right to terminate enter into an amendment of this Lease (establishing such number and the "Flammables License Contingency") resulting Monthly Rent, Tenant’s Share, Landlord’s Allowance and other amounts hereunder due to be exercised by delivery of written notice of its election to the opposite party on or prior to August 15, 2005, with an effective date of termination fifteen (15) days after the date of delivery of such notice of election to terminate. In the event that Tenant delivers a notice to terminate as provided above, and Landlord then obtains and delivers a copy of the Flammables License to Tenant on or before the effective date of termination, then Tenant's election to terminate shall be nullified and this Lease shall continue in full force and effect. In the event that Landlord delivers a notice to terminate as provided above, and Tenant delivers a waiver of its termination right hereunder on or before the effective date of termination, then Landlord's election to terminate shall be nullified and this Lease shall continue in full force and effect but for said termination right. Notwithstanding anything stated herein to the contrary, Landlord shall have no obligation to expend any monies pursuant to this Lease including, but not limited to, Tenant Improvement Allowance costs or brokerage commissions until such time as the Lease termination rights provided for above have expired or been waived by Tenantremeasurement.

Appears in 1 contract

Samples: Office Lease (Intersil Corp/De)

Premises; Term. Subject to the terms and conditions set forth herein, Landlord hereby leases and demises to Tenant Tenant, and Tenant hereby takes and leases from Landlord that certain space identified in Article 1(D) and shown Landlord, the premises as outlined on a the floor plan attached hereto as Exhibit A (herein called "Premises") on the first floor of the office building located at One Imeson Park Boulevard, Jacksonville, Florida, and known as One Imeson Place (herein called "Building"), which Premises is comprised of the "Phase 1 Space" and the "Phase 2 Space," both as shown on the floor plan attached hereto as Exhibit A-1, for a term (herein called "Initial Term") of seven (7) Lease Years (the term "Lease Year" is defined below) commencing on the date(s) on which Landlord shall deliver to Tenant possession of the Phase 1 Space of the Premises or portions thereof in accordance with Section 6 hereof (herein called "Commencement Date Date"), and ending on the seven (7) Lease Years thereafter (herein called "Expiration Date set forth in Article 1 (The "Original TermDate"), unless sooner terminated as provided herein, paying as rent therefor the sums hereinafter provided, without any setoff, abatement, counterclaim or extended deduction whatsoever except as specifically provided herein. The square footage in the Premises and the Building, as set forth in Article 1(D), have been determined by Landlordshall also be deemed to include Tenant's architect, calculated in accordance with the ANSI/BOMA Z 95.1 (1996) method of measurement modified for biotech use, the results of which Tenant hereby confirms Tenant shall have the exclusive right to review and confirm such measurements before use up to 1,000 standard parking spaces within the date of execution of this Lease. Such determination of square footage shall be binding upon both parties hereto and such determined square footage shall be used in all calculations based area labeled "Tenant's Parking Area" on square footage throughout this Lease. The Commencement Date, the Rent Commencement Date and the Expiration Date shall be confirmed by execution of the Rent Commencement Date Confirmation in the form as set forth in Exhibit E, which Tenant shall execute and return to Landlord within ten (10) business days after receipt thereof. If Landlord delays delivering possession of the Premises, this Lease shall not be void or voidable except as expressly permitted by the terms hereof, and no damages shall be payable by Landlord. Landlord understands that Tenant has a substantial chemical storage requirement. Landlord has, at Landlord's sole expense, submitted an application (site plan attached hereto as Exhibit K) to the City of Cambridge Licensing Commission to amend its existing garage and gasoline license to allow Tenant's flammable materials to be stored within the Premises ("Flammables License") provided that Tenant shall construct adequate Control Areas (as defined in Exhibit C) to contain such flammable materialsA-2; provided, however, that Tenant shall obtain and maintain a flammable storage permit from the Cambridge Fire Department to store such flammable materials within its Control Areas and that Tenant's storage of its flammable materials shall, at all times, be in compliance with all applicable laws, regulations and statutes governing the storage, transport and use of such flammable materials. Tenant shall use its best efforts to cooperate with Landlord in procuring the Flammables License and shall provide Landlord with information pertaining to Tenant's flammable material storage requirements as Landlord may require to obtain the Flammables License. In the event Landlord fails to obtain and deliver to Tenant a copy of its Flammables License on or before June 1, 2005, the Rent Commencement Date shall be extended one day for each day after June 1, 2005, until the date Landlord obtains and delivers the Flammables License to Tenant. Notwithstanding the foregoing, if Landlord fails to deliver the Flammables License by July 15, 2005, either Landlord or Tenant shall have reserves the right to terminate restripe and/or reconfigure (but not relocate) Tenant's Parking Area from time to time so long as Tenant's Parking Area at all times includes no less than 1,000 standard parking spaces and that any such restriping or reconfiguration does not unduly inconvenience Tenant and Tenant's employees, contractors and invitees or materially and adversely affect Tenant's business. For purposes of this Lease (Section, "standard parking spaces" shall mean parking spaces sufficiently large to meet the "Flammables License Contingency") requirements of applicable code, including a sufficient number of handicap spaces to meet the requirements of applicable code. Tenant and Tenant's employees shall be exercised by delivery of written notice of its election entitled to the opposite party on or prior to August 15, 2005, with an effective date of termination fifteen (15) days after the date of delivery of such notice of election to terminate. In the event that Tenant delivers a notice to terminate as provided above, and Landlord then obtains and delivers a copy park in all areas of the Flammables License parking lot serving the Building not reserved for use by other tenants of the Building or otherwise restricted by Landlord from time to Tenant on or before the effective date of termination, then Tenant's election to terminate shall be nullified and this Lease shall continue time in full force and effect. In the event that Landlord delivers a notice to terminate as provided above, and Tenant delivers a waiver of its termination right hereunder on or before the effective date of termination, then Landlord's election to terminate shall be nullified and this Lease shall continue in full force and effect but for said termination right. Notwithstanding anything stated herein to the contrary, Landlord shall have no obligation to expend any monies pursuant to this Lease including, but not limited to, Tenant Improvement Allowance costs or brokerage commissions until such time as the Lease termination rights provided for above have expired or been waived by Tenantsole discretion.

Appears in 1 contract

Samples: Office Lease (Excal Enterprises Inc)

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