Substitution Term Sample Clauses
A Substitution Term clause defines the conditions under which one party may replace a specified person, product, or service with an alternative during the contract period. Typically, this clause outlines the process for proposing a substitute, any required approvals, and criteria the substitute must meet to be acceptable. Its core function is to provide flexibility in fulfilling contractual obligations while ensuring that the quality or suitability of the replacement meets the original agreement's standards.
Substitution Term. From and after the Substitution Effective Date (defined in Section 2.l.A below), the Premises shall be the Substitution Space, subject to the terms hereof (the "Substitution"). The term of the Lease for the Substitution Space (the "Substitution Term") shall commence on the Substitution Effective Date and, unless sooner terminated in accordance with the Lease, end on the Extended Expiration Date. From and after the Substitution Effective Date, the Substitution Space shall be subject to all the terms and conditions of the Lease except as provided herein. Except as may be expressly provided herein, (a) Tenant shall not be entitled to receive, with respect to the Substitution Space, any allowance, free rent or other financial concession granted with respect to the Existing Premises, and (b) no representation or warranty made by Landlord with respect to the Existing Premises shall apply to the Substitution Space. Notwithstanding anything herein to the contrary, Landlord and Tenant acknowledge that Landlord shall have primary possession of the Substitution Space for the purpose of performing the Tenant Improvement Work during the period beginning on the Substitution Effective Date and ending on the Substitution Rent Commencement Date (the "Construction Period"). Tenant shall have no obligation to pay Base Rent or Additional Rent for the Substitution Space during the Construction Period. In addition, Landlord shall indemnify, defend, protect, and hold Tenant harmless from any obligation, loss, claim, action, liability, penalty, damage, cost or expense (including reasonable attorneys' and consultants' fees and expenses) that is imposed or asserted by any third party and arises from (a) any negligence or willful misconduct of Landlord or any Landlord Parties (defined in Section 10.1 of the Original Lease) in the Substitution Space during the Construction Period, or (b) the performance of Tenant Improvement Work by Landlord in the Substitution Space.
A. Substitution Effective Date; Substitution Rent Commencement Date. As used herein, "Substitution Effective Date" means December 15, 2014. As used herein, the "Substitution Rent Commencement Date" the earlier to occur of (i) the date on which Tenant first conducts business in the Substitution Space, or (ii) the date on which the Tenant Improvement Work (defined in Exhibit B attached hereto) is Substantially Complete (defined in Exhibit B attached hereto), which is anticipated to be February 1, 2015 (the "Target Substit...
Substitution Term. From and after the Substitution Effective Date (defined in Section 1.1.A below), the Premises shall be the Substitution Space, subject to the terms hereof (the “Substitution”). The term of the Lease for the Substitution Space (the “Substitution Term”) shall commence on the Substitution Effective Date and, unless sooner terminated in accordance with the Lease, end on the last day of the term of the Lease (which the parties acknowledge is April 30, 2019). From and after the Substitution Effective Date, the Substitution Space shall be subject to all the terms and conditions of the Lease except as provided herein. Except as may be expressly provided herein, Tenant shall not be entitled to receive, with respect to the Substitution Space, any allowance, free rent or other financial concession granted with respect to the Existing Premises.
Substitution Term. From and after the Substitution Effective Date (defined in Section 2.1.A below), the “Premises” shall be the Substitution Space, subject to the terms hereof (the “Substitution”) and all references in the Current Lease, as amended by this Second Amendment, to the “Premises” shall mean and refer to the Substitution Space. The term of the Lease for the Substitution Space (the “Substitution Term”) shall commence on the Substitution Effective Date and, unless sooner terminated in accordance with the Lease, end on the Extended Expiration Date. From and after the Substitution Effective Date, the Substitution Space shall be subject to all the terms and conditions of the Lease except as provided herein. Except as may be expressly provided herein, (a) Tenant shall not be entitled to receive, with respect to the Substitution Space, any allowance, free rent or other financial concession granted with respect to the Existing Premises, and (b) no representation or warranty made by Landlord with respect to the Existing Premises shall apply to the Substitution Space.
Substitution Term. From and after the Substitution Effective Date (defined in Section 2.1.A below), the Premises shall be the Substitution Space, subject to the terms hereof (the "Substitution"). The term of the Lease for the Substitution Space (the "Substitution Term") shall commence on the Substitution Effective Date and, unless sooner terminated in accordance with the Lease, end on the Extended Expiration Date. From and after the Substitution Effective Date, the Substitution Space shall be subject to all the terms and conditions of the Lease except as provided herein. Except as may be expressly provided herein, (a) Tenant shall not be entitled to receive, with respect to the Substitution Space, any allowance, free rent or other financial concession granted with respect to the Existing Premises, and (b) no representation or warranty made by Landlord with respect to the Existing Premises shall apply to the Substitution Space.