SPACE POCKET Clause Samples
The SPACE POCKET clause establishes a designated area within a leased property that is reserved for the tenant's exclusive use, often for storage or specialized operations. This clause typically outlines the size, location, and permitted uses of the space pocket, and may specify any restrictions or additional rent associated with its use. By clearly defining the tenant's rights to a specific portion of the premises, the clause helps prevent disputes over space allocation and ensures both parties understand the boundaries and permitted activities within the reserved area.
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SPACE POCKET. The “Space Pocket” shall mean the 7,505 square feet of area on the first floor of the Building shown as the Space Pocket on Exhibit B-4, which shall be part of the Premises. Notwithstanding the Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation for the payment of Rental for the Space Pocket shall not commence until the earlier of: (i) April 1, 2003 (or, if later, one year after the Space Pocket is Ready for Occupancy); (ii) the date that Lessee commences to occupy and use any of the Space Pocket; or (iii) the date that Lessee exercises its right of first refusal pursuant to Section 40(o) below. Lessee shall give Lessor at least sixty (60) days’ prior written notice if Lessee intends to use and occupy the Space Pocket prior to April 1, 2003; provided, however, that Lessee shall have the right to occupy and use the Space Pocket space in two increments, with the first increment being for at least 50% of the rentable area of the Space Pocket, and the second increment being for the remainder of the Space Pocket, and if the Space Pocket is occupied or used in increments, Lessee shall pay Rental for such increments on a pro rata basis. Lessor may occupy and use the Space Pocket until the earlier of (i) sixty (60) days after written notice from Lessee that Lessee intends to use and occupy the Space Pocket; or (ii) April 1, 2003. If Lessor occupies the Space Pocket, Lessor shall be responsible for construction and installation of all demising partitions and security arrangements to separate the space from Lessee’s operations, and upon vacation of the Space Pocket Lessor shall be responsible for removal of such items and the restoration of the Space Pocket to the condition existing at the completion of Lessor’s Work.
SPACE POCKET. Except as specifically provided for herein, Lessee shall have the option to designate up to 5,000 rentable square feet of the Premises as a space pocket (the “Pocketed Areas”). The Pocketed Areas may be comprised of space located in various areas throughout the Premises. Lessee shall not initially pay rent on the Pocketed Areas, but the Pocketed Areas will expire, as such space is identified by Tenant, upon the first to occur of (i) the commencement of month 15 of the Lease term, or (ii) actual use thereof. The five (5) months of free rent described in section 3 of this Lease shall not apply to the Pocketed Areas’ non-payment period. Once a Pocketed Area is occupied, it may not thereafter be re-pocketed. Notwithstanding the foregoing, if Lessee exercises its 5th Floor FRL (as described in Section 38), Lessee’s right to designate then-current or prospective Pocketed Areas is immediately and irrevocably terminated.
SPACE POCKET. Landlord and Tenant acknowledge that Tenant subleases 76,984 rentable square feet in Building Three to Cell Therapeutics, Inc. (“CTI”) (the “CTI Space”), under that certain Sublease Agreement, dated March 30, 2001, between Tenant and CTI (as amended, the “CTI Sublease”), which terminates on July 31, 2012. If CTI vacates the CTI Space, either prior to or after termination of the CTI Sublease, and Tenant elects to occupy all of the third and fourth floors in the CTI Space, then, notwithstanding anything to the contrary in this Lease, Tenant will be eligible to space pocket up to fifty (50) percent of the third and fourth floors (the “Space Pocket”) upon the following terms:
(i) the Space Pocket may be furnished and improved by Tenant, but shall not be occupied by Tenant’s employees, agents, assigns, subtenants, or subcontractors. In the event Tenant does occupy any portion of the Space Pocket, such portion shall be immediately removed from the Space Pocket;
(ii) Tenant shall not be liable for the payment of Base Monthly Rent or Tenant’s Share of Expenses for the Space Pocket until the earlier of (a) the date Tenant occupies the Space Pocket or (b) twelve (12) months after CTI vacates the CTI Space;
(iii) Tenant covenants and agrees to notify Landlord immediately at such time as Tenant occupies the Space Pocket; and
(iv) once square footage is removed from the Space Pocket for any reason, it shall not be able to be included in the Space Pocket again. As used herein, “occupancy” means any use of the floor by Tenant for other than the installation of furniture, fixtures and equipment; “occupancy” shall include use of the floor for storage or any other business use. It is understood by both Landlord and Tenant that Tenant may not locate all its employees in a specific contiguous area of the CTI Space and therefore it may be difficult for each party to ascertain the exact amount of space Tenant is actually using, and thus makes it difficult for .both parties to agree on the Base Monthly Rent and Tenant’s Share of Expenses. Therefore, if Tenant and Landlord cannot agree as to the amount of space Tenant is actually using, both Tenant and Landlord shall agree that each employee Tenant locates in the CTI Space (where the CTI Space is such employee’s primary office location) shall constitute usage of 250 rentable square feet (RSF). As an example, if Tenant locates 75 employees in the CTI Space, Tenant shall agree that it is using 18,750 RSF (250 RSF X 75 employees) an...
SPACE POCKET. Lessor extends to Lessee the right to designate a portion of the Premises (which portion shall be mutually acceptable) as space pockets. Such acceptance shall not be unreasonably withheld. The space pocket shall not exceed 20,624 square feet. These space pockets may be located at various locations throughout the Premises. Space pockets will be rent free and not part of the leased Premises for the purposes of Section 19, until the space is actually used for active conduct of Lessee's business, which may be in whole or in part. If the space pockets are actually used, Lessee shall pay rent on only the portion used at the same rent that Lessee is paying for the other space under this Lease. The initial area space pocketed shall be incorporated into rentable space on April 1, 1998 or upon actual use of said space if sooner. Lessee's use of space pockets as dead storage shall not cause them to accrue rent.
SPACE POCKET. Lessee shall have the option to designate up to 10,000 rentable square feet as a space pocket. The pocketed area may be comprised of space located in various areas throughout both floors. Lessee shall not pay rent on the space pockets as long as the space remains unused, but 5,000 square feet shall, in any event, be incorporated into rentable area upon the commencement of month 4, and the remaining 5,000 square feet shall be incorporated into rentable area upon commencement of month 7 or upon the actual use thereof if sooner.
SPACE POCKET. Notwithstanding the terms of paragraph 2.A.
(1) Tenant may, upon written notice given to Landlord no later than thirty (30) days prior to the expiration of the first twelve (12) months of the Lease term, and subject to the remaining terms of this Addendum, extend the 12-month "space pocket" period referenced in the fifth line of paragraph 2.A.
SPACE POCKET. Of this additional space for the Second Expansion Premises, Lessee shall have the option to designate up to 5,475 rentable square feet as a space pocket. The pocketed area may be comprised of space located in various areas throughout the Second Expansion Premises. Lessee shall not pay rent on the space pocketed area as long as the space remains unused. Lessor and Lessee agree that this 5,475 square foot pocket shall be incorporated into rentable area upon commencement of month ten (10) of the lease term for the Second Expansion Premises, i.e. September 1, 2007, or upon the actual use thereof if such use occurs between June 1, 2007 and August 31, 2007.
SPACE POCKET. Lessee shall have the option to designate up to 19,380 rentable square feet as a Space Pocket. The pocketed area may comprise space located in various areas throughout the Premises. Lessee shall not be required to pay rent on the space pocketed areas so long as the space remains “unoccupied”. Each pocket space shall be considered “unoccupied”even though Lessee may furnish such area for future office use. “Occupancy” shall mean the date on which Lessee first has an employee working in that area as a regular office worker. Once a space becomes unpocketed, it may not thereafter be repocketed. Lessee may utilize a pocketed area as dead storage and shall be charged the annual dead storage rate of $15.00 per square foot. In any event, however, 6,460 rentable square feet shall be incorporated into rentable area January 1, 2011, 6,460 rentable square feet shall be incorporated into rentable area January 1, 2012, and the remaining 6,460 rentable square feet shall be incorporated into rentable area January 1, 2013, or upon the actual use thereof for normal office operations if sooner.
SPACE POCKET. Under the Maplewood Lease, Tenant has the right, during the first twenty four (24) months of the Extended Term, to use certain Reserved Space (as defined in the Maplewood Lease) for tenant improvement activities, installing and storing furniture, fixtures, and equipment, and for staging and temporary relocation of personnel. Landlord acknowledges and agrees that, in addition to Tenant’s use of the Reserved Space for the benefit of its premises in the Maplewood Building, Tenant may use the Reserved Space for the benefit of its operations and tenant improvement activities at the Premises.