Storage Space. If exercised by Tenant from time to time on or prior to the Commencement Date and to be effective as of the Commencement Date (and thereafter on an as-available basis) for the Lease Term (including renewal options), Tenant shall have the right to occupy up to One Thousand (1,000) usable square feet of contiguous, dry space in a lower level of the Building (the “Storage Space”), with elevator access to the upper floors, which may be used for storage and/or ancillary office purposes. The rental rate for such space shall be Fifteen & 00/100 Dollars ($15.00) per useable square foot thereof, with no increases thereto during the Term of this Lease. Except as set forth herein, there shall be no Additional Rent applicable to the Storage Space, if taken by Tenant, whether for operating expenses, real estate taxes, or other such expenses. In the event Tenant at any time requires HVAC or janitorial for such Storage Space taken by it, the agreed upon cost thereof shall be reimbursed by Tenant as Additional Rent under this Lease. Landlord agrees to paint such Storage Space, provide demising partitioning with a Building standard door and lockset, and hang basic lighting fixtures from the ceiling, all at Landlord’s sole expense. If Tenant has taken the Storage Space then, commencing on the Rent Commencement Date (or, if later, the date Tenant takes the Storage Space) and on the first day of each month thereafter, Tenant shall pay, on a monthly basis, the cost of all electricity utilized for or in connection with the Storage Space, as evidenced by a check meter or submeter (if so installed at Landlord’s sole cost and expense) or as otherwise reasonably estimated by Landlord and agreed to by Tenant.
Appears in 1 contract
Sources: Deed of Lease (NCI, Inc.)
Storage Space. If exercised by Landlord agrees to make available to Tenant from time to time on or prior to storage space in the Commencement Date and to be effective as of the Commencement Date (and thereafter on an as-available basis) for the Lease Term (including renewal options), Tenant shall have the right to occupy up to One Thousand Building containing approximately one thousand (1,000) usable square feet of contiguous, dry space in a lower level of the Building (the “Storage Space”), with elevator access to the upper floors, which may be used for feet. Such storage and/or ancillary office purposes. The rental rate for such space shall be made available by Landlord to Tenant on the Lease Commencement Date and no rent shall be payable by Tenant to Landlord for the same for the period beginning on the date the same is delivered by Landlord to Tenant through the Rent Commencement Date. The annual gross rent for the storage space leased by Tenant shall be Fifteen & 00/100 Dollars ($15.00) per useable usable square foot thereof, with no increases thereto during in such space for the Term of this Lease. Except as set forth herein, there shall be no Additional Rent applicable to the Storage Space, if taken by Tenant, whether for operating expenses, real estate taxes, or other such expenses. In the event Tenant at any time requires HVAC or janitorial for such Storage Space taken by it, the agreed upon cost thereof shall be reimbursed by Tenant as Additional Rent under this Lease. Landlord agrees to paint such Storage Space, provide demising partitioning with a Building standard door and lockset, and hang basic lighting fixtures from the ceiling, all at Landlord’s sole expense. If Tenant has taken the Storage Space then, commencing one-year period beginning on the Rent Commencement Date (or, if later, the date Tenant takes the Storage Space) and on the first day of each month thereafter, Date. Such monthly gross rent for storage space leased by Tenant shall paybe increased by three percent (3%) on each anniversary of the Rent Commencement Date. Tenant shall not be required to pay any portion of Operating Expenses or Real Estate Tax Expenses attributable to the storage space leased by it. In no event shall Tenant’s Share be increased as a result of Tenant’s lease of storage space in the Building. Landlord shall notify Tenant of the availability of storage space in the Building as and when it becomes available. All storage space leased by Tenant shall be built out by Landlord, on a monthly basis, the cost of all electricity utilized for or in connection with the Storage Space, as evidenced by a check meter or submeter (if so installed at Landlord’s sole cost cost, to contain only the following: the storage space shall consist of cinder block walls, if located in the Garage, and expensethe storage space shall have a steel, locked door and shall contain reasonable lighting, a reasonable number of electrical outlets and an exhaust fan for ventilation. Tenant shall have the right at any time to cancel its lease of all or any portion of storage space leased by it on not less than thirty (30) or as otherwise reasonably estimated by Landlord and agreed days prior notice to by TenantLandlord.
Appears in 1 contract
Storage Space. If exercised Upon no less than thirty (30) days prior written request by Tenant from time (the “Storage Space Request”), and subject to time availability on or prior a first come, first-served basis, except to the Commencement Date and to be effective as of the Commencement Date (and thereafter on an as-available basis) for the Lease Term (including renewal options)extent expressly set forth herein, Tenant shall have the right an option to occupy up to One Thousand (1,000) usable square feet of contiguous, dry lease storage space in Project (each, a lower level “Potential Storage Space”) during the Lease Term. Following Landlord’s receipt of Tenant’s Storage Space Request, Landlord shall notify Tenant in writing (“Landlord’s Storage Notice”) as to what Potential Storage Space(s), if any, is available for Lease, and the size and then-current Building standard rental rate applicable for such Potential Storage Space (the “Storage SpaceSpace Rent”), with elevator access to the upper floors, which may be used for storage and/or ancillary office purposes. The rental rate for such space Storage Space Rent shall be Fifteen & 00/100 Dollars subject to escalation of three percent ($15.003%) per useable square foot thereof, with no increases thereto annum during the remainder of the then current Lease Term. Tenant may lease any Potential Storage Space described in Landlord’s Storage Notice by delivering written notice to Landlord of Tenant’s election to lease such Potential Storage Space (“Tenant’s Storage Acceptance Notice”) delivered to Landlord within ten (10) business days following Landlord’s delivery of Landlord’s Storage Notice to Tenant. In the event that Landlord’s Storage Notice provided that more than one Potential Storage Space was available for lease by Tenant, then Tenant’s Storage Acceptance Notice shall identify which Potential Storage Space(s) Tenant has elected to lease. In the event that Tenant delivers a Tenant’s Storage Acceptance Notice to Landlord, the term for the applicable Potential Storage Space shall be co-terminus with the then-current Lease Term of this Lease. Except as set forth herein, there Landlord and Tenant shall be no Additional Rent applicable enter into Landlord’s standard commercially reasonable storage space lease agreement (the “Storage Agreement”) with respect to the Tenant’s lease of any Potential Storage Space, if taken or, in the event that Tenant and Landlord have already entered into a Storage Agreement, then the parties shall enter into an amendment thereto adding such additional Potential Storage Space to any storage space previously leased by TenantTenant pursuant to this Section 29.48. Tenant shall execute and return the Storage Agreement (or amendment thereto, whether for operating expensesas applicable) to Landlord within thirty (30) days after receiving it. If Tenant fails to execute and deliver the Storage Agreement within such thirty (30) day period, real estate taxes, or other then Landlord may lease such expensesPotential Storage Space to any third party. In the event that Tenant at any time requires HVAC or janitorial for such delivers a Storage Space taken by itRequest but, the agreed upon cost thereof shall be reimbursed by Tenant as Additional Rent under this Lease. Landlord agrees due to paint such unavailability of any Potential Storage Space, Landlord is unable to provide demising partitioning Tenant with a Building standard door and locksetany Potential Storage Space at such time, and hang basic lighting fixtures from the ceiling, all at Landlord shall so notify Tenant. Subject to Landlord’s sole expensecompliance with the TCCs of this Section 29.48, the unavailability of such Potential Storage Space for Tenant’s use shall not subject Landlord to any liability for any loss or damage resulting therefrom or entitle Tenant to any credit, abatement or adjustment of rent or other sums payable under this Lease but Tenant may once again deliver a Storage Request pursuant to the terms of this Section 29.48. Landlord hereby acknowledges that the following storage spaces are available for lease as of the Effective Date at a Storage Space Rent of Thirty and No/100 Dollars ($30.00) per square foot: ▇▇▇▇ ▇▇▇▇ (245 square feet), ▇▇▇▇ ▇▇▇▇ (▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇), ▇▇▇▇ ▇▇▇▇ (196 square feet), Unit 00BI (373 square feet), ▇▇▇▇ ▇▇▇▇ (▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇), ▇▇▇▇ ▇▇▇▇ (128 square feet) and Unit STRI (133 square feet) (collectively, the “Initially Available Storage Space”). Notwithstanding anything to the contrary in the foregoing, within thirty (30) days after the Phase II Premises Lease Commencement Date (such date is hereinafter referred to as the “Initial Storage Election Deadline”), Tenant shall deliver written notice to Landlord (a “Initial Storage Election Notice”) specifying which Initially Available Storage Space Tenant has elected to rent. If Tenant has taken the fails to timely deliver an Initial Storage Election Notice, Tenant’s rights to any Potential Storage Space then, commencing on the Rent Commencement Date (or, if later, the date Tenant takes the including any Initially Available Storage Space) shall be as otherwise set forth in this Section 29.48. Landlord shall not lease any of the Initially Available Storage Space to any other party during the period commencing as of the Phase II Premises Lease Commencement Date and on ending as of the first day Initial Storage Election Deadline. In addition and notwithstanding anything to the contrary in the foregoing, if any Potential Storage Space becomes available for lease during the Lease Term, Landlord shall provide Tenant with a courtesy notice of each month thereafter, Tenant shall pay, on a monthly basis, the cost of all electricity utilized for or in connection with the such available Potential Storage Space, as evidenced by a check meter or submeter (if so installed at Space promptly upon Landlord’s sole cost determination that such Potential Storage Space will be available for lease, including its location, size, monthly rental and expense) or as otherwise reasonably estimated by Landlord and agreed date upon which it will be available for lease; provided, however, that Landlord’s failure to by Tenantprovide such courtesy notice shall not be deemed a default hereunder.
Appears in 1 contract
Sources: Office Lease (Okta, Inc.)
Storage Space. If exercised by Tenant from time to time on or prior to the Commencement Date and to be effective as of the Commencement Date (and thereafter on an as-available basis) for the Lease Term (including renewal options), Tenant shall have the right to occupy up to One Thousand (1,000) usable approximately 15,000 square feet of contiguous, dry space in a on the lower level of the Building as identified on Exhibit B-1 hereto (the “Storage Space”), with elevator access ) to the upper floors, which may be used for storage and/or ancillary office purposesin connection with Tenant’s business. The rental rate term with respect to the Storage Space shall commence on the date on which Landlord makes the Storage Space available to Tenant (the “Storage Space Commencement Date”) and shall terminate on the Expiration Date. Tenant shall not pay any Fixed Annual Rent for such space shall be Fifteen & 00/100 Dollars ($15.00) per useable square foot thereofthe use of the Storage Space, with no increases thereto during but except as otherwise provided in this Section 20.27, all of the Term other provisions of this LeaseLease shall apply as if the Storage Space were a part of the Premises, except that the Storage Space shall not be included in the calculation of Rentable Square Feet for the purpose of determining Tenant’s Share. Except Tenant shall pay to Landlord as set forth herein, there shall be no Additional Rent applicable an additional charge for electricity supplied to the Storage Space, if taken by Tenant, whether for operating expenses, real estate taxes, or other such expenses. In the event Tenant at any time requires HVAC or janitorial for such Storage Space taken by it, the agreed upon cost thereof shall be reimbursed by Tenant as Additional Rent under an amount determined in accordance with Article 16 of this Lease. Landlord agrees to paint such Storage Space; provided, provide demising partitioning with a Building standard door and locksethowever, and hang basic lighting fixtures from the ceiling, all at Landlord’s sole expense. If Tenant has taken that if the Storage Space thenis not separately metered, commencing on the Rent Commencement Date (or, if later, the date Tenant takes the Storage Space) and on the first day then such charge shall be equal to Landlord’s actual costs of each month thereafter, Tenant shall pay, on a monthly basis, the cost of all providing electricity utilized for or in connection with to the Storage Space, as evidenced reasonably allocated by Landlord based on a check meter submeter or submeter other reasonable allocation. Landlord shall not be required to provide any services (if so installed such as, without limitation, cleaning) to the Storage Space, and the Storage Space shall not be included in calculating Tenant’s Share. Tenant shall accept the Storage Space in its “as is” condition. Tenant shall be permitted to make alterations to the Storage Space at LandlordTenant’s sole cost and expense) or , subject to the conditions set forth in Article 8 of this Lease, provided that Tenant shall remove any such alterations as otherwise reasonably estimated directed by Landlord at the termination of this Lease, to the extent that Landlord so requires in accordance with Article 8. Tenant’s right to occupy the Storage Space hereunder is a license otherwise upon the same terms and agreed conditions set forth in this Lease, revocable by Landlord at any time upon the occurrence of an Event of a Default by Tenant under the terms of this Lease, and shall not be construed to by Tenantbe a lease of such space.
Appears in 1 contract
Storage Space. If exercised by Tenant from time Landlord shall lease to time on or prior to the Commencement Date Tenant, and to be effective as of the Commencement Date (and thereafter on an as-available basis) for the Lease Term (including renewal options), Tenant shall have the right to occupy lease from Landlord, for a term coterminous with this Lease, up to One Thousand (1,000) a total of 2,211 usable square feet of contiguousstorage space, dry space in a lower level being on Level P3 of the Building (the “Storage Space”), with elevator access to for the upper floors, which may be used purpose of general office storage use and/or for storage and/or ancillary of Tenant’s miscellaneous training materials and supplies, store fixtures, samples, merchandise, promotional goods and materials, and other supplies for office purposesor retail use in Tenant’s business and for no other purpose. The rental rate Such Storage Space will be caged and locked. Tenant shall pay as a “gross rent” for such space the Storage Space the amount of $12.00 per annum per usable square foot of the Storage Space in equal monthly installments. Such rent shall be Fifteen & 00/100 Dollars payable on or before the first ($15.001st) per useable square foot thereof, with no increases thereto day of each month during the Term of in the manner set forth in this Lease. Except as set forth hereinTenant shall not permit the use or occupancy of the Storage Space by any person or entity other than Tenant, there its agents or employees. Upon Tenant’s leasing of the Storage Space, Tenant shall be accept the Storage Space in its “AS IS” condition and agrees that Landlord shall have no Additional Rent applicable obligation to make any improvements to the Storage Space, if taken by Tenant, whether for operating expenses, real estate taxes, or other such expenses. In the event Tenant at any time requires HVAC or janitorial for such Storage Space taken by it, the agreed upon cost thereof shall be reimbursed by Tenant as Additional Rent under this Lease. Landlord agrees to paint such Storage Space, provide demising partitioning with a Building standard door and lockset, and hang basic lighting fixtures from the ceiling, all at Landlord’s sole expense. If Tenant has taken The lease of the Storage Space thenshall be governed by all of the other terms and conditions of the Lease including, commencing on the Rent Commencement Date (or, if laterbut not limited to, the date indemnity and insurance provisions therein, except that the square footage of the Storage Space shall not be used in calculating Basic Rent for the Leased Premises, Additional Rent, or any tenant improvement allowance hereunder or any other calculation based upon the rentable square footage of the Leased Premises. Tenant takes hereby agrees to provide Landlord with a certificate evidencing insurance coverage of the Storage Space prior to Tenant’s occupancy of the Storage Space) and . The Storage Space is depicted on the first day of each month thereafter, Tenant shall pay, on a monthly basis, the cost of all electricity utilized for or in connection with the Storage Space, as evidenced by a check meter or submeter (if so installed at Landlord’s sole cost and expense) or as otherwise reasonably estimated by Landlord and agreed to by TenantSchedule “G-5” attached hereto.
Appears in 1 contract
Sources: Lease Agreement (Carters Inc)