Common use of TERM; POSSESSION Clause in Contracts

TERM; POSSESSION. The Term shall commence on the Commencement Date and ---------------- shall expire, if not sooner terminated pursuant to the provisions of this Lease, on the Expiration Date. On the Commencement Date, the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement Date.

Appears in 2 contracts

Sources: Lease Agreement (Equinix Inc), Lease Agreement (Equinix Inc)

TERM; POSSESSION. The Term of this Lease shall commence on the Commencement Date and ---------------- shall expire, if not sooner terminated pursuant to the provisions of this Lease, end on the Expiration Date. On the Commencement Date, the Premises and Equipment Space are accepted by Tenant unless extended or sooner terminated in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth hereinaccordance with this Lease. If Landlord is delayed in delivering possession of the Premises and Equipment Space all or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession portion of the Premises or Equipment Space before to Tenant as of the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be required liable for any loss or damage to pay Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent hereunderdue under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the foregoingcontrary, if the Commencement Date does has not occur by the date that is occurred on or before one hundred fifty ninety (150190) days following the mutual execution and delivery of this Lease (date that Landlord receives a building permit for the "Outside Delivery Date")Tenant Improvements, Tenantfor any reason other than Tenant Delay or force majeure, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by then Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease by written notice to Landlord, as set forth above but Landlord delivers the Premises Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant in the condition required by this Lease within giving Landlord thirty (30) days after the date days’ advance written notice of Tenant's delivery of Tenant's termination notice, its intention to terminate this Lease if Substantial Completion shall continue not occur within such thirty (30) day period, in full force and effect the same as if which event all amounts prepaid or deposited by Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein hereunder shall be null and void as of the Commencement Datepromptly returned to Tenant.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Neuronetics, Inc.)

TERM; POSSESSION. A. The Term term (the “Term”) of this Sublease shall commence fifteen (15) days from the Execution Date (the “Commencement Date”) and shall expire at midnight on the Commencement Date and ---------------- shall expireDecember 31, if not 2007, unless sooner terminated pursuant to (the provisions of this Lease, on the Expiration Date. On the Commencement Date, the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, Tenant shall have the right to extend the Term of this Sublease for an additional period of five (5) years and three months by providing written notice to Landlord not less than 270 days prior to the expiration of the Term. The rent for the extended term of this Sublease shall be based on the prevailing market rate for similar property as negotiated by Landlord and Tenant. B. Tenant acknowledges and agrees that if the Commencement Date does Prime Lease is terminated prior to expiration of the Term for any reason other than a default caused solely by Landlord or pursuant to agreement between Prime Landlord and Landlord, such termination shall not occur be a default by the date that is one hundred fifty (150) days following the mutual execution and delivery of Landlord under this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery DateSublease. In such eventthe event of any termination which gives rise to a default by Landlord under this Sublease, and subject to the provisions set forth below in this Article 3, this Lease Landlord shall be deemed null liable to Tenant for all of Tenant’s damages, costs and void and expenses arising directly from such default, including without limitation the discounted present value, at the then-effective Prime Rate quoted by major money center banks as published in the Wall Street Journal, of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant the difference between (i) rent under this Sublease for the balance of the Term and (ii) any resulting direct lease from Prime Landlord to Tenant plus reasonable attorneys’ fees actually incurred and arising out of Landlord’s default. In the event Prime Landlord defaults under the terms of the Prime Lease and such default renders all or a substantial portion of the parties hereto shall have no further responsibilities Premises untenantable, Landlord agrees to reasonably cooperate with Tenant to pursue any remedy available to Landlord under the Prime Lease or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date otherwise, which cooperation shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contraryundertaken at Tenant’s expense, if except that Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as subrogated to Landlord’s rights under the Prime Lease for recoupment of any such expense permitted under the Commencement DatePrime Lease.

Appears in 1 contract

Sources: Sublease (Time Warner Telecom Inc)

TERM; POSSESSION. (a) If Substantial Completion of the Building Shell has not occurred and Landlord has not delivered possession of the Premises to Tenant by November 1, 2004, for any reason other than because of Force Majeure Events, Tenant shall have the right at any time thereafter before such delivery, to terminate this Lease by giving not less than sixty (60) days prior’ written notice of such termination to Landlord. If this Lease is terminated by Tenant for Landlord’s failure to deliver possession of the Premises to Tenant, Landlord shall promptly reimburse Tenant for all costs incurred by Tenant in connection with this Lease, including Tenant’s reasonable attorneys’ fees. (b) The Initial Term of this Lease shall commence on the Commencement Date and ---------------- shall expire, if not sooner terminated pursuant to the provisions of this Lease, end on the Expiration Date. On , unless sooner terminated in accordance with the Commencement Date, terms of this Lease. (c) Provided that Landlord has not given Tenant notice of monetary default more than two (2) times in the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to Lease year immediately preceding the completion of the Landlord Work). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, then applicable Expiration Date and that there are then exists no representations or warranties by Landlord regarding the condition Event of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced Default by Tenant under this Lease Lease, Tenant shall have the right to extend the Base Term for two (2) additional periods of seven (7) years each (the first of which is referred to herein to as the “First Extended Term” and the parties hereto shall have no further responsibilities or obligations second of which is referred to each other with respect herein as the “Second Extended Term”) (the First Extended Term and the Second Extended Term are individually referred to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (herein as defined hereinan “Extended Term”). Notwithstanding the foregoing to the contrary, if If Tenant exercises any of its right rights to terminate this extend the Lease as set forth above but Landlord delivers Term, all of the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date terms of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect during any Extended Term except that there shall be no further options to extend beyond the same Second Extended Term and the Minimum Annual Rent shall be determined in accordance with Section 4(d) below. The right to extend the Lease Term is not assignable separately from the Lease, but shall be exercisable by Tenant’s permitted successors and assigns Tenant must exercise its right to extend the Lease Term by giving Landlord written notice of such election on or before the date which is one (1) year prior to the date on which this Lease would otherwise expire. Any notice from Tenant exercising Tenant’s right to extend the Lease Term is hereinafter referred to as “Tenant’s Extension Notice”. (d) The Minimum Annual Rent during the first year of the First Extended Term shall be equal to ninety-five percent (95%) of the Fair Market Rental Value of the Premises. The Fair Market Rental Value shall be conclusively deemed to equal the then fair market value for properties of equivalent quality, size and utility in the Philadelphia region, but without considering the value of those leasehold improvements which Tenant has made at Tenant’s expense provided that the Minimum Annual Rent for the first year of each Extended Term shall not be less than the Minimum Annual Rent payable by Tenant in the last year of the Initial Term or the First Extended Term, as applicable. Furthermore, beginning on the first day of the second Lease year of the First Extended Term and continuing through each Lease year of the Second Extended Term (if Tenant had has exercised its option with respect thereto) (each a “Base Rent Adjustment Date”), the Minimal Annual Rent for each year of each Extended Term shall be adjusted by the annual change in the CPI; but in no event shall such Minimum Annual Rent for each such Lease year be less than the Minimum Annual Rent payable by Tenant in the immediately preceding Lease year. As used herein, “CPI” means the Consumer Price Index for All Urban Wage Earners and Clerical Workers - United States Average; All Items (1982- 1984=100), as issued from time to time by the Federal Bureau of Labor Statistics or any successor agency or any other measure employed in lieu of such index that measures the cost of living nationally (hereinafter called the “CPI”) between the commencement date of the first Lease year of the First Extended Term and Base Rent Adjustment Date. If the CPI figure for a Base Rent Adjustment Date is not delivered immediately available, the Landlord may estimate such figure (subject to adjustment and an appropriate credit or debit to Rent previously paid) pending issuance of such figure. Within thirty (30) days after receipt of Tenant’s Extension Notice, Landlord shall forward to Tenant in writing Landlord’s determination of the Fair Market Rental Value. If Tenant objects to the Fair Market Rental Value as quoted by Landlord, Landlord and Tenant shall attempt in good faith to negotiate a mutually acceptable determination of Fair Market Rental Value within a period of thirty (30) days following the initial quotation by Landlord. If such negotiations have not been concluded by a mutual agreement within such thirty (30) day period, either party shall have the right to have the Fair Market Rental Value determined by appraisal. The party who desires to have the Fair Market Rental Value determined by appraisal shall notify the other party of its termination noticeexercise of such right. In such case, each party shall, within thirty (30) days after delivery of the notice requiring appraisal, appoint an independent certified MAI appraiser having at least ten (10) years of experience appraising office and/or industrial buildings in Philadelphia Pennsylvania (a “Qualified Appraiser”) and notify the other party of the appraiser appointed. Each appraiser so appointed shall acknowledge and agree in writing that he has read and shall abide by the provisions of this Section 4(d) If a party does not appoint an appraiser within said 30-day period, the single appraiser appointed shall be the sole appraiser and shall determine the Fair Market Rental Value for the Extended Term. If two Qualified Appraisers are appointed, they shall be instructed to determine the Fair Market Rental Value of the Premises for the Extended Term and deliver a copy of such determination to Landlord and Tenant within thirty (30) days after their appointment. If the two appraisals differ by less than five percent (5%) of the lower appraisal, the Fair Market Rental Value shall be conclusively deemed to be equal to the arithmetic average of the two appraisals. If the two appraisals differ by more than five percent (5%) of the lower appraisal, the two appraisers shall be instructed to jointly designate a third Qualified Appraiser, who shall be instructed to provide his or her appraisal to the parties within twenty (20) days. Thereupon the Fair Market Rental Value shall be deemed to be the arithmetic average of the two closest appraisals, with the third appraisal being disregarded. The determination of Fair Market Rental Value in the manner set forth above shall be final and binding on Landlord and Tenant. If based on the determination of Fair Market Rental Value as aforesaid Tenant does not desire to proceed with the Extended Term, Tenant shall have the right to revoke its exercise of the option to extend by giving notice to Landlord within fifteen (15) days after such determination. The cost of Landlord’s appraiser shall be borne by Landlord, the cost of Tenant’s appraiser shall be borne by Tenant, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein the cost of the third appraisal shall be null shared equally between Landlord and void as Tenant; provided, however, that if Tenant revokes its exercise of the Commencement Dateoption to extend the Term as permitted by the preceding sentence, Tenant shall be responsible for the fees and expenses of all appraisers.

Appears in 1 contract

Sources: Office and Industrial Lease Agreement (WuXi PharmaTech (Cayman) Inc.)

TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date set forth in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated, shall expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date”). The Term of this Lease for the Additional Premises shall commence on the Additional Premises Commencement Date set forth in the Basic Lease Information (the “Additional Premises Commencement Date”) and, unless sooner terminated, shall expire on the Expiration Date. From and ---------------- after the Commencement Date, Tenant shall expire, if not sooner terminated pursuant to comply with all the terms and provisions of this Lease, on except for the Expiration Dateobligation to pay Base Rent prior to the date such obligation commences under the terms of this Lease. On During any period that Tenant shall be permitted to enter the Premises prior to the Commencement DateDate for any reason (including, without limitation, for purposes of constructing any improvements in accordance with the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord WorkConstruction Rider). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises shall comply with and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties be bound by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to all the terms and conditions provisions of this Lease Lease, except that, prior those provisions requiring the payment of Base Rent. Tenant shall provide to the Rent Commencement Date, Tenant will not be Landlord all insurance certificates required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease prior to Tenant entering into the Premises. At any time during the Term, Landlord may complete and deliver to Tenant a document evidencing the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord dates of the beginning and Tenant acknowledge end of the Term, and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due for the Initial Premises and the Additional Premises Commencement Date for the Additional Premises, and the Expiration Date, which document shall be deemed conclusive unless Tenant shall notify Landlord of any disagreement therewith within ten (10) days of receipt. Tenant shall make commercially reasonably, good-faith efforts to events obtain all governmental approvals (“Government Use Approval”) required for Tenant to conduct its intended medical uses in the Premises from all governmental entities with jurisdiction, by the estimated delivery date for the Initial Premises. Tenant shall provide Landlord with a copy of Force Majeure (as defined herein). Notwithstanding all correspondence received from applicable governmental entities regarding the foregoing Government Use Approval, Tenant shall retain a permit consultant to ▇▇▇▇▇ the necessary applications through the approval process, Tenant shall provide Landlord with a copy of all applications submitted by Tenant, and, if necessary to obtain the required Government Use Approval prior to the contraryestimated delivery date for the Initial Premises, if Tenant exercises its shall pay the premiums established by the applicable governmental entities that allow approval of permit applications on an expedited basis. Tenant shall provide Landlord with a copy of the approved permit immediately upon receipt from the applicable governmental entity. If on or before June 1, 2006 (“Tenant’s Use Approval Deadline “) Tenant does not give Landlord written notice that Tenant has obtained the Government Use Approval, then Landlord shall have the right to terminate this Lease as set forth above but by written notice to Tenant given within ten (10) Business Days following Tenant’s Use Approval Deadline. If either (a) Landlord delivers terminates this Lease because Tenant has not obtained the Government Use Approval on or before Tenant’s Use Approval Deadline, or (b) Tenant terminates this Lease because Landlord has failed to deliver possession of the Initial Premises and the Additional Premises to Tenant in by the condition required Termination Deadline, then promptly after either such termination Landlord shall return to Tenant all sums paid by Tenant to Landlord, including the Security Deposit, the Letter of Credit, and the construction management fee, if previously paid by Tenant to Landlord. In addition, if Tenant terminates this Lease because Landlord has failed to deliver possession of the Initial Premises and the Additional Premises to Tenant by the Termination Deadline, then in Landlord shall pay one half (1/2) of Tenant’s out of pocket fees and charges that Tenant has paid to the Space Planner (as defined in Exhibit B attached to this Lease) within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right delivers to terminate as described herein shall be null and void as Landlord copies of the Commencement Dateinvoices from the Space Planner for such fees and charges, showing in detail the dates and the explanation associated therewith for such fees and charges.

Appears in 1 contract

Sources: Lease Agreement (Hemacare Corp /Ca/)

TERM; POSSESSION. The Term term of this Lease ("Lease Term") shall commence be approximately seventy-two (72) months commencing on the eighty-fourth (84th) calendar day after the issuance of a building permit for the Tenant Improvements (the "Target Commencement Date and ---------------- shall expireDate"), if not sooner terminated pursuant subject to the provisions of this LeaseParagraph 2, and of Paragraph 27, and ending on the Expiration Datelast day of the seventy-second (72nd) calendar month thereafter, unless sooner terminated or extended as herein provided. On Notwithstanding the Target Commencement Date, the Lease Term will commence on 'the tenth (10th) business day after Landlord notifies Tenant that a certificate of occupancy (or equivalent governmental approval of completion) has been issued for the Tenant Improvements (as defined in Paragraph 27) by the appropriate governmental agency, at which time the Premises will be deemed "ready for occupancy." The certificate of occupancy (or equivalent governmental approval of completion) may contain stipulations and Equipment Space are accepted conditions to be fulfilled by Landlord so long as it permits Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking take possession of the Premises and Equipment Space, Tenant agrees that to use the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties for the purposes contemplated by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth hereinthis Lease. If Landlord is delayed in delivering Tenant shall take possession of the Premises no later than thirty (30) business days after Landlord notifies Tenant that a certificate of occupancy (or equivalent governmental approval of completion) has been issued. The Premises shall be considered "ready for occupancy" notwithstanding that punchlist items of a minor nature not interfering with Tenant's intended beneficial use of the Premises exist,, Landlord agrees to complete the punchlist items to Tenant's reasonable satisfaction at Landlord's sole expense within a period of time that is reasonable under the circumstances following the commencement date of the Lease Term. Landlord and Equipment Space or Tenant shall execute a written statement specifying (a) the commencement date of the Lease Term and (b) the termination date of the Lease Term prior to Tenant's taking possession of the Premises. If the Premises are not ready for occupancy by the Tenant on the Target Commencement Date for any reason other spacethan Tenant's default under this Lease, Landlord shall continue to use reasonable efforts due diligence to obtain possession of the space, but no such delay shall nullify this Lease or give rise complete construction and to any claim for damages on the part of Tenant. If Tenant takes deliver possession of the Premises to Tenant. Notwithstanding any provision in this Lease to the contrary: (a) If the Premises are not ready for occupancy by Tenant on or Equipment Space before the Commencement Date, such possession shall be subject to one hundredth (100th) calendar day after the terms and conditions issuance of this Lease except that, prior to a building permit for the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease improvements (the "Outside Adjusted Delivery Date")) for any reason other than Tenant's default under this Lease, Tenant Delay or force majeure, then Tenant's sole and exclusive remedy will be to receive one (1) day of free rent for each day from the Adjusted Delivery Date until the Premises are ready for occupancy; and (b) If the Premises are not ready for occupancy by Tenant on or before the fiftieth (50th) day after the Adjusted Delivery Date for any reason other than Tenant's default under this Lease or Tenant Delay, then Tenant shall have the right to cancel this Lease as its sole remedy, may terminate this Lease and exclusive remedy by giving notice given to Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities on or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure before ten (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (3010) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement Datethereafter.

Appears in 1 contract

Sources: Lease Agreement (WWW Holdings Inc)

TERM; POSSESSION. The Term term of this Lease (the "TERM") shall commence on the Commencement Date and ---------------- as described below and, unless sooner terminated, shall expire, if not sooner terminated pursuant to the provisions of this Lease, expire on the Expiration Date. On Date set forth in the Commencement Date, Basic Lease Information (the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord WorkEXPIRATION DATE"). By taking The "COMMENCEMENT DATE" shall be the earlier of (a) the date on which Landlord tenders possession of the Premises to Tenant, with all of Landlord's construction obligations, if any, "SUBSTANTIALLY COMPLETED" as provided in the Construction Rider attached as Exhibit B (the "CONSTRUCTION RIDER"), or, in the event of any "TENANT DELAY," as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant, with Landlord's written permission, actually occupies and Equipment Space, Tenant agrees that the Premises and Equipment Space are conducts business in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition any portion of the Premises; provided, Equipment Space or however, that in no event shall the Building except as may be expressly Commencement Date occur any earlier than the Scheduled Commencement Date set forth hereinin the Basic Lease Information (the "SCHEDULED COMMENCEMENT DATE"). If Landlord, however, shall not be liable for any claims, damages or liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. Tenant understands and agrees that a substantial portion of the Premises are currently occupied by another tenant (the "EXISTING TENANT"). Landlord is delayed in delivering agrees to use its good faith efforts to regain possession of such portion of the Premises from the Existing Tenant, and deliver possession of the Premises and Equipment Space to Tenant on or before the Scheduled Commencement Date. Notwithstanding any other spaceprovision contained herein to the contrary, Landlord shall use reasonable efforts not be obligated to obtain pay any consideration to the Existing Tenant in order to gain possession of the spacePremises. If, but no such delay shall nullify this Lease or give rise despite Landlord's good faith efforts, Landlord is unable to any claim for damages on the part of Tenant. If Tenant takes deliver possession of the Premises to Tenant on or Equipment Space before March 1, 1999, Landlord or Tenant shall each have the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers by providing written notice of termination to the Premises to Tenant in the condition required by this Lease other, within thirty (30) days after the date of Tenant's delivery of Tenant's termination noticesuch date, and this Lease shall continue in full be of no further force and effect effect. Such right of termination shall constitute Tenant's sole remedy for Landlord's failure to deliver possession of the same as Premises to Tenant. Notwithstanding the foregoing, if Tenant had not delivered its termination noticeLandlord tenders possession of the Premises to Tenant, and Tenant's termination notice will be null Tenant accepts possession thereof, after March 1, 1999, then the right of Landlord and Tenant to terminate this Lease pursuant to this paragraph shall become void. Tenant's right to terminate as described herein shall be null and void as of When the Commencement DateDate has been established, Landlord and Tenant shall at the request of either party confirm the Commencement Date and Expiration Date in writing.

Appears in 1 contract

Sources: Lease Agreement (Imall Inc)

TERM; POSSESSION. The Term term of this Lease (the “Term“) shall commence on the Commencement Date as described below and, unless sooner terminated, shall expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date“). The “Commencement Date“ shall be the earlier of (i) the later of (a) the date that is one hundred eighty (180) days after the date on which Landlord has Substantially Completed the Landlord’s Work, or in the event of any Tenant Delay (as defined in the Construction Rider), the date on which Landlord’s Work would have been Substantially Completed had there been no such Tenant Delay and ---------------- Landlord tenders possession of the Premises to Tenant, (the “Delivery Date”); or (b) June 1, 2017; or (ii) the date upon which Tenant actually occupies and conducts business in any portion of the Premises. The parties anticipate that the Commencement Date will occur on or about the Estimated Commencement Date set forth in the Basic Lease Information (the “Estimated Commencement Date“); provided, however, that Landlord shall expirenot be liable for any claims, damages or liabilities if the Premises are not sooner terminated pursuant ready for occupancy by the Estimated Commencement Date. When the Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Commencement Date and Expiration Date in writing. Subject to the provisions of Exhibit B – Construction Rider and this LeaseSection 2, on as of the Expiration Date. On date that is one (1) business day following the Commencement Datedate that this Lease has been fully executed by all parties and Tenant has delivered the insurance certificates called for in Section 11.1(e) – Certificates of Insurance and the Security Deposit (or Letter of Credit, if applicable), and provided further that Tenant has given Landlord written notice prior to entry, Tenant shall have access to the Premises (“Early Access“) for the purpose of planning and Equipment Space are accepted by performing the Tenant in "as is" condition Improvements, but only if during such Early Access, Tenant and configuration (subject to Tenant’s employees, contractors and vendors do not interfere with Landlord’s contractor completing the Landlord Work. Landlord may withdraw such Early Access at any time that Landlord reasonably determines that such Early Access is causing a dangerous situation for Landlord, Tenant or their respective contractors or employees, or if Landlord reasonably determines that such Early Access is hampering or otherwise preventing Landlord from proceeding with the completion of the Landlord Work)Work at the earliest possible date. By taking possession During such Early Access Tenant shall not be obligated to pay Base Rent or Tenant’s Share of Operating Costs or Taxes; provided, however, that Tenant shall be liable for the costs and expenses for any special or excess services or utilities requested by or on behalf of Tenant at the Premises and Equipment Spaceduring any such period of Early Access. Notwithstanding the foregoing, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If if Tenant takes possession of the Premises or Equipment Space before the Commencement DateDate and occupies fifty percent (50%) or more of the Premises for the operation of Tenant’s business therein, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, and Tenant will not be required to shall pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date")Base Rent, Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice ’s Share of termination after the Outside Delivery Date. In such eventOperating Costs and Taxes, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid all other Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations other charges payable hereunder to Landlord for each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number day of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of possession before the Commencement Date.

Appears in 1 contract

Sources: Lease Agreement (FireEye, Inc.)

TERM; POSSESSION. 2.1 The Term term ("Term") of this Sublease shall commence on the August 15, 2003 ("Commencement Date Date") and ---------------- shall expireexpire on October 31, if not 2009 ("Expiration Date"), unless sooner terminated pursuant to the provisions of this Lease, on the Expiration Date. On the Commencement Date, the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space terms hereof or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunderLease. Notwithstanding the foregoing, if the Commencement Date does not occur it is expressly understood and agreed by the date Subtenant that this Sublease is one hundred fifty (150) days following the mutual execution and delivery subject to approval of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject pursuant to the provisions set forth below of the Lease. In the event this Sublease is not approved by Landlord, Sublandlord shall not be liable to Subtenant for any costs, expenses (including, without limitation, attorneys fees and expenses) or for any damages in any manner whatsoever, and this Article 3, this Lease Sublease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced ab initio. 2.2 Subject to receipt of a fully executed Sublease agreement, the Deposit, the Prepaid Rent, insurance certificates required by Tenant under this the Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect this Sublease and Landlord's consent to this LeaseSublease including, without limitation, execution by Landlord, Sublandlord and Subtenant of a written consent to this Sublease, Sublandlord shall tender to Subtenant possession of the Subleased Premises on the Commencement Date set forth in Section 2.1 above. If tender of possession of the Subleased Premises by Sublandlord to Subtenant is delayed through no fault of Sublandlord beyond the date stated in the preceding sentence, including, without limitation, any delay occasioned by the approval by Landlord and Tenant acknowledge execution by all parties of a written consent to this Sublease, the Sublease shall remain in full force and agree effect, except that Commencement Date and Abatement Period (as hereinafter defined) only shall be extended on a day to day basis for the Outside Delivery period until possession shall be tendered to Subtenant unless such delay is caused by act, omission or misconduct of Subtenant (it being agreed that neither the dates applicable for calculation of the Monthly Base Rent set forth in Section 3.1 below nor the Expiration Date shall be postponed by the number of days so extended). If the Commencement Date is delayed due extended pursuant to events of Force Majeure (as defined herein). Notwithstanding this paragraph, Sublandlord and Subtenant shall execute an addendum to this Sublease stating the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the actual Commencement Date.

Appears in 1 contract

Sources: Sublease Agreement (J Jill Group Inc)

TERM; POSSESSION. 2.1 The Term term of this Lease (the “Term”) shall commence on the Commencement Date and ---------------- as described below and, unless sooner terminated, shall expire, if not sooner terminated pursuant to the provisions of this Lease, expire on the Expiration Date set forth in the Basic Lease Information (The “Expiration Date”). The “Commencement Date” shall be the Rent Commencement Date (as that term is defined below) with respect to the last floor of the Premises delivered by Landlord to Tenant. The parties anticipate that the Commencement Date will occur on or about February 8, 2003 (the “Scheduled Commencement Date”); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. On the Commencement Date, If the Premises and Equipment Space are accepted not delivered by Tenant in "as is" condition and configuration the Landlord to Tenant, with all of Landlord’s Work substantially complete by May 8, 2003 (“Outside Substantial Completion Date”), subject to the completion of the Landlord Workforce majeure (not to exceed 180 days) or any Tenant Delay (as that term is hereinafter defined). By taking possession of Tenant shall have the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts right to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination at any time after the Outside Delivery Date. In such eventSubstantial Completion Deadline and prior to substantial completion of Landlord’s Work, and subject to the provisions set forth below in this Article 3, which case this Lease shall will be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Leaseterminated. Landlord and Tenant acknowledge and agree that the Outside Delivery Date Landlord shall be postponed by the number of days the Commencement Date is delayed due deliver to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in increments of two (2) floors every 30-45 days in the condition required by Exhibit F attached hereto. Notwithstanding anything to the contrary contained herein, all of the terms and conditions of this Lease within thirty shall apply to the floors of the Premises delivered to Tenant prior to Commencement Date; and the rent commencement date (30the “Rent Commencement Date”) with respect to each floor delivered to Tenant shall be the earlier of (a) one hundred twenty (120) days after the date on which Landlord tenders possession of such floor of the Premises to Tenant with Landlord’s Work therein Substantially Complete or the date such floor would have been Substantially Complete but for Tenant Delays, or (b) the date upon which Tenant's delivery , with Landlord’s written permission, actually occupies and conducts business on such floor(s) of the Premises. Tenant shall pay to Landlord Base Rent and Additional Rent with respect to any such floor(s) of the Premises commencing on the Rent Commencement Date with respect to such floor(s) of the Premises. Landlord and Tenant acknowledge and agree that certain rent and other obligations may commence earlier than the Commencement Date, on a phased basis, as floors within the Premises are delivered to Tenant's termination notice, this Lease shall continue in full force all as provided above. However, for purposes of determining the Term and effect the same as if Tenant had not delivered its termination noticefirst and subsequent lease years, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein there shall be null a single Commencement Date, determined as provided above, with respect to the Building. Promptly after the Rent Commencement Date with respect to each floor is ascertained, Landlord and void as Tenant shall execute, in recordable form, a written declaration setting forth the Rent Commencement Date for such floor. Promptly after the Commencement Date with respect to this Lease, Landlord and Tenant shall confirm such Commencement Date in writing in the form of the Commencement DateDate Agreement attached hereto as Exhibit C. “Tenant Delay” means any act or omission of Tenant or its agents, employees, vendors or contractors that actually delays the Substantial Completion of the Landlord Work, including, without limitation: (1) Tenant’s failure to furnish information or approvals within any time period specified in this Lease, including the failure to prepare or approve preliminary or final plans by any applicable due date; (2) informed by Landlord that the selection may result in a delay; (3) changes requested or made by Tenant to previously approved plans and specifications, including Additional Shell Construction Items; (4) performance of work in the Premises by Tenant of Tenant’s contractor(s) during the performance of the Landlord Work after reasonable notice from Landlords that such work is interfering with the progress of Landlord Work; or (5) if the performance of any portion of the Landlord Work depends on the prior or simultaneous performance of work by Tenant, a delay by Tenant or Tenant’s contractor(s) in the completion of such work after reasonable notice from Landlord. If the parties disagree as to whether or not a “Tenant Delay” has occurred, the parties shall resolve such dispute through arbitration as provided in Section 37. As used in this Lease, “Month” shall mean a calendar month, except that if the Term beings on a day other than the first day of a calendar month, the first “month” shall be the period from (and including) the Commencement Date through (and including) the last day of the first full calendar month following the Commencement Date falls and if the Term ends on a day other than the last day of a calendar month, the last “month” shall be the period from (and including) the day on which the Term ends. Landlord and Tenant each will use commercially reasonable efforts to accommodate the other’s work, so that neither unreasonably interferes with or causes delay to the other.

Appears in 1 contract

Sources: Sub Sublease Agreement (Enernoc Inc)

TERM; POSSESSION. The Term term of this Lease with respect to the Initial Premises shall commence on the Commencement Date and ---------------- shall expire, if not sooner terminated date ("INITIAL PREMISES COMMENCEMENT DATE") Landlord delivers possession of the Initial Premises to Tenant after Landlord has obtained possession of the Initial Premises from the Existing Tenant pursuant to the provisions of this Leasecontained hereinbelow. The "TERM") shall commence on the Additional Premises Commencement Date as described below and, unless sooner terminated, shall expire on the Expiration DateDate set forth in the Basic Lease Information (the "EXPIRATION DATE"). On the Commencement Date, the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject The term of this Lease with respect to the completion of Additional Premises shall commence on the date ("ADDITIONAL PREMISES COMMENCEMENT DATE") Landlord Work). By taking delivers possession of the Additional Premises and Equipment Space, to Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by after Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering has obtained possession of the Additional Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of from the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Existing Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject pursuant to the terms and conditions of this Lease except that, prior to provisions contained hereinbelow. The parties anticipate that the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Initial Premises Commencement Date does not and the Additional Premises Commencement Date will occur by on or about the date that is one hundred fifty (150) days following Initial Premises Scheduled Commencement Date set forth in the mutual execution and delivery of this Basic Lease Information (the "Outside Delivery DateINITIAL PREMISES SCHEDULED COMMENCEMENT DATE") and the Additional Premises Scheduled Commencement Date get forth in the Basic Lease Information (the "ADDITIONAL PREMISES SCHEDULED COMMENCEMENT DATE"); provided, Tenanthowever, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and that Landlord shall promptly refund not be liable for any prepaid Rent claims, damages or liabilities if the Initial Premises and Security Deposit previously advanced Additional Premises are not ready for occupancy by Tenant under this Lease their respective Scheduled Commencement Dates. When the Initial Commencement Date and the parties hereto shall Additional Commencement Date have no further responsibilities or obligations to each other with respect to this Lease. been established, Landlord and Tenant acknowledge shall at the request of either party confirm the respective Commencement Dates and agree that the Outside Delivery Expiration Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure in writing. TENANT UNDERSTANDS AND AGREES THAT THE PREMISES ARE CURRENTLY LEASED BY ANOTHER TENANT (as defined hereinTHE "EXISTING TENANT"). Notwithstanding the foregoing to the contraryLANDLORD AGREES TO USE ITS GOOD FAITH EFFORTS TO NEGOTIATE A TERMINATION OF LEASE WITH THE EXISTING TENANT BY AUGUST 15, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice1998, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and voidAND DELIVER POSSESSION OF THE INITIAL PREMISES TO TENANT ON OR BEFORE THE INITIAL PREMISES SCHEDULED COMMENCEMENT DATE AND DELIVER POSSESSION OF THE ADDITIONAL PREMISES TO TENANT ON OR BEFORE THE ADDITIONAL PREMISES SCHEDULED COMMENCEMENT DATE. Tenant's right to terminate as described herein shall be null and void as of the Commencement Date.NOTWITHSTANDING ANY PROVISION

Appears in 1 contract

Sources: Lease Agreement (Clarent Corp/Ca)

TERM; POSSESSION. The Term term of this Lease ("Lease Term") shall commence be approximately seventy-two (72) months commencing on the eighty-fourth (84th) calendar day after the issuance of a building permit for the Tenant Improvements (the "Target Commencement Date and ---------------- shall expireDate"), if not sooner terminated pursuant subject to the provisions of this LeaseParagraph 2, and of Paragraph 27, and ending on the Expiration Datelast day of the seventy-second (72nd) calendar month thereafter, unless sooner terminated or extended as herein provided. On Notwithstanding the Target Commencement Date, the Lease Term will commence on the tenth (10th) business day after Landlord notifies Tenant that a certificate of occupancy (or equivalent governmental approval of completion) has been issued for the Tenant Improvements (as defined in Paragraph 27) by the appropriate governmental agency, at which time the Premises will be deemed "ready for occupancy. The certificate of occupancy (or equivalent governmental approval of completion) may contain stipulations and Equipment Space are accepted conditions to be fulfilled by Landlord so long as it permits Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking take possession of the Premises and Equipment Space, Tenant agrees that to use the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties for the purposes contemplated by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth hereinthis Lease. If Landlord is delayed in delivering Tenant shall take possession of the Premises no later than thirty (30) business days after Landlord notifies Tenant that a certificate of occupancy (or equivalent governmental approval of completion) has been issued. The Premises shall be considered "ready for occupancy" notwithstanding that punchlist items of a minor nature not interfering with Tenant's intended beneficial use of the Premises exist. Landlord agrees to complete the punchlist items to Tenant's reasonable satisfaction at Landlord's sole expense within a period of time that is reasonable under the circumstances following the commencement date of the Lease Term. Landlord and Equipment Space or Tenant shall execute a written statement specifying (a) the commencement date of the Lease Term and (b) the termination date of the Lease Term prior to Tenant's taking possession of the Premises. If the Premises are not ready for occupancy by the Tenant on the Target Commencement Date for any reason other spacethan Tenant's default under this Lease, Landlord shall continue to use reasonable efforts due diligence to obtain possession of the space, but no such delay shall nullify this Lease or give rise complete construction and to any claim for damages on the part of Tenant. If Tenant takes deliver possession of the Premises to Tenant. Notwithstanding any provision in this Lease to the contrary: (a) If the Premises are not ready for occupancy by Tenant on or Equipment Space before the Commencement Date, such possession shall be subject to one hundredth (100th) calendar day after the terms and conditions issuance of this Lease except that, prior to a building permit for the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease Improvements (the "Outside Adjusted Delivery Date")) for any reason other than Tenant's default under this Lease, Tenant Delay or force majeure, then Tenant's sole and exclusive remedy will be to receive one (1) day of free rent for each day from the Adjusted Delivery Date until the Premises are ready for occupancy; and (b) If the Premises are not ready for occupancy by Tenant on or before the fiftieth (50th) day after the Adjusted Delivery Date for any reason other than Tenant's default under this Lease or Tenant Delay, then Tenant shall have the right to cancel this Lease as its sole remedy, may terminate this Lease and exclusive remedy by giving notice given to Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities on or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure before ten (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (3010) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement Datethereafter.

Appears in 1 contract

Sources: Lease Agreement (Earthlink Inc)

TERM; POSSESSION. (a) The Term initial term of this Lease (the “Initial Term”) is for a period of three (3) Lease Years commencing on the date (the “Commencement Date”) the Premises are delivered to Tenant in “substantially completed” condition (as defined in Paragraph 23), subject to adjustment for Tenant Delays (defined below), and shall commence continue until midnight on the last day of the third Lease Year (the “Expiration Date”), unless extended or sooner terminated as hereinafter provided. The Initial Term, together with each and every “Extended Term” (as defined in Paragraph 22 hereof) which shall be duly exercised by Tenant pursuant to the provisions of Paragraph 22, are hereinafter collectively called the “Term”. The estimated Commencement Date is August 1, 2004 (the “Estimated Commencement Date”). Landlord shall deliver possession of the Premises to Tenant free and clear of all tenancies and occupancies, broom clean and in good order and condition and with all alterations and improvements, if any, to be made by Landlord as may be elsewhere provided for in this Lease, substantially completed in a first-class workmanlike manner. If for any reason Landlord has not delivered to Tenant possession of the Premises by the Estimated Commencement Date, this Lease shall remain in effect and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, except as otherwise provided herein. (b) For purposes of this Lease, the first “Lease Year” shall mean the period commencing on the Commencement Date and ---------------- ending twelve (12) months thereafter, except that if the Commencement Date is other than the first day of a calendar month, the first “Lease Year” shall expiremean the period commencing on the Commencement Date and ending on the last day of the twelfth (12th) full calendar month after the Commencement Date. Thereafter, the term “Lease Year” shall mean a period equal to twelve (12) full calendar months, except that if the Commencement Date is other than the first day of a calendar month the final “Lease Year” shall be extended as necessary to ensure that the Lease expires at the end of the Term. (c) If the Commencement Date of the Lease has not sooner terminated pursuant occurred on or before the Estimated Commencement Date, and if the cause of the delay in the occurrence of the Commencement Date is solely attributable to Tenant, then the Lease shall begin on the date the Commencement Date otherwise would have occurred but for the Tenant delays (“Tenant Delays”). Tenant Delays shall include, without limitation, those caused by (a) any changes to the provisions Work (defined in Paragraph 23) requested by Tenant, and (b) Tenant’s or Tenant’s agents’ interference with Landlord’s performance of this Leasethe Work. All costs and expenses occasioned by a Tenant Delay, including, without limitation, increases in labor or materials, shall be borne by Tenant. (d) Following the date on which Landlord delivers possession of the Expiration Date. On Premises to Tenant and the Commencement Date, Landlord may prepare and deliver to Tenant a commencement date memorandum (the Premises and Equipment Space are accepted by Tenant “Commencement Date Memorandum”) in "as is" condition and configuration (the form of EXHIBIT “D”, attached hereto, subject to such changes in the completion of form as may be required to insure the accuracy thereof. The Commencement Date Memorandum shall certify the date on which Landlord Work). By taking delivered possession of the Premises and Equipment Space, to Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord dates upon which the Term commences and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement Dateexpires.

Appears in 1 contract

Sources: Lease Agreement (Eschelon Telecom Inc)

TERM; POSSESSION. 2.1 The Term term of this Lease (the "Term") (and the date when Tenant's obligations hereunder, except as otherwise expressly provided herein, commence) shall commence on the Commencement Date and ---------------- as described below and, unless sooner terminated, shall expire, if not sooner terminated pursuant to the provisions of this Lease, expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date"). On the The "Commencement Date, " shall be the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration earlier of (subject to a) the completion of the date on which Landlord Work). By taking tenders possession of the Premises and Equipment Spaceto Tenant, with all of Landlord's construction obligations "Substantially Completed" as provided in the Construction Rider attached as Exhibit B (the "Construction Rider"); or (b) the date on which Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant lawfully takes possession of the Premises or Equipment Space before for the Commencement Date, such possession purpose of commencing business. In no event shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date")prior to January 1, 2003 without Tenant, as its sole remedy, may terminate this Lease by giving Landlord 's prior written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Leaseconsent. Landlord and will give Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after notice of the expected date of Substantial Completion. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (the "Scheduled Commencement Date"); provided, however, that except as otherwise provided in this Lease Landlord shall not be liable for any claims, damages or liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. Tenant shall not interfere with construction of the Premises or do anything that could delay Substantial Completion or the Scheduled Commencement Date, and shall at all times act diligently and cooperate with Landlord to the fullest extent possible to prevent the occurrence of Tenant Delay. If the Premises are not ready for occupancy by the Scheduled Commencement Date for any reason other than Tenant's delivery of Tenant's termination noticeDefault under this Lease, this Lease Landlord shall continue in full force and effect diligently complete construction at the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and voidearliest practicable date. Tenant's right to terminate as described herein shall be null and void as of When the Commencement DateDate has been established, Landlord and Tenant shall confirm the Commencement Date and the Expiration Date in writing.

Appears in 1 contract

Sources: Lease Agreement (Pegasus Solutions Inc)

TERM; POSSESSION. The Term term of this Lease ("Term") shall commence be approximately one hundred twenty (120) months commencing on or about February 21, 2000 (the "Target Commencement Date and ---------------- shall expireDate"), if not sooner terminated pursuant subject to the provisions of this LeaseParagraphs 2 and 27, and ending on the Expiration Datelast day of the one hundred twentieth (120th) calendar month thereafter, unless sooner terminated or extended as herein provided. On Notwithstanding the Target Commencement Date, the Term will commence on the third business day ("Substantial Completion") after issuance of both (a) a ---- temporary certificate of occupancy for Landlord's Work, and (b) the Project Architect's certification that Landlord's Work has been completed substantially in accordance with the Plans so that Tenant will be able to use the Premises for the intended purpose, excepting only (i) Tenant's Work (including but not limited to the kitchen and the modular furniture) and (ii) kitchen-related mechanical, plumbing and electrical work and finishes ("Landlord's Kitchen Work") and Punchlist Items, the first of which shall be the obligation of Tenant and the second of which shall remain the obligation of Landlord. Landlord's Work shall mean the work to be done by Landlord shown on the Plans, excepting Tenant's Work. Tenant's Work shall mean the work to be done by Tenant described in Exhibit B. Landlord shall give Tenant sixty (60) days' prior written notice of Landlord's best estimate of the expected date of Substantial Completion of Landlord's Work. The temporary certificate of occupancy and the Project Architect's certification for Landlord's Work may contain stipulations and conditions to be fulfilled by Landlord so long as they do not materially interfere with Tenant's actual occupancy of the Premises and Equipment Space are accepted Tenant shall be able to use the Premises (including required parking) for the purposes contemplated by Tenant in "as is" condition this Lease, which initially shall mean commencement of Tenant's Work, without material interference with Tenant's use and configuration (subject to the completion enjoyment of the Premises. Tenant shall take possession of the Premises no later than ten (10) business days after Substantial Completion. Landlord Work). By and Tenant shall execute a written statement specifying (a) the commencement date of the Term and (b) the termination date of the Term prior to Tenant's taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date Substantial Completion does not occur by the date that is one hundred fifty (150) days following Target Commencement Date for any reason other than Tenant's default under this Lease, Landlord shall continue to use due diligence to complete construction and to deliver possession of the mutual execution and delivery of Premises to Tenant. Notwithstanding any provision in this Lease to the contrary: (a) If Substantial Completion does not occur on or before April 17, 2000 (the "Outside Adjusted Delivery Date"), as such date may be extended by reason of Tenant Delay or Force Majeure, then Tenant's sole and exclusive remedy will be to receive one (1) day of free rent credit every day from the Adjusted Delivery Date until the earlier of forty-five (45) days thereafter or the date of Substantial Completion; (b) If Substantial Completion does not occur on or before the forty-fifth (45th) day after the Adjusted Delivery Date, as such date may be extended by reason of Tenant Delay or Force Majeure, then Tenant's sole and exclusive remedy will be to receive two (2) days of free rent credit every day from the forty- sixth (46th) day after the Adjusted Delivery Date until the earlier of the ninetieth (90th) day thereafter or the date of Substantial Completion; and (c) If Substantial Completion does not occur on or before the ninetieth (90th) day after the Adjusted Delivery Date for any reason other than Tenant Delay, and regardless of Force Majeure, then Tenant shall have the right to cancel this Lease as its sole remedyand exclusive remedy by notice given to Landlord on or before ten (10) days thereafter, may terminate this Lease by giving Landlord written notice except that the foregoing election of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease remedies shall be deemed null and void and not prevent Tenant from seeking specific performance of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant Landlord's obligations under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement Date.

Appears in 1 contract

Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)

TERM; POSSESSION. The Term term of this Lease (the "TERM") shall commence on the Commencement Date and ---------------- as described below and, unless sooner terminated, shall expire, if not sooner terminated pursuant to the provisions of this Lease, expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date"). On The "Commencement Date" shall be 14 days after Landlord delivers written notice to Tenant that the prior tenant has vacated the Premises. Landlord shall notify Tenant in writing of the projected Commencement Date of the Lease within 5 days of determining said date. Landlord shall also notify Tenant in writing within 5 days if the said projected Commencement Date is changed. When the Commencement DateDate has been established, Landlord and Tenant shall confirm the Commencement Date and Expiration Date in a commencement letter in the form attached as Exhibit D. Landlord and Tenant further acknowledge and agree that the Commencement Date may occur, and Tenant's obligation to pay Base Rent (as defined in Section 3 below) and perform the other obligations of Tenant under this Lease may commence before the date Landlord has tendered possession of the Premises to Tenant with the Tenant Improvements Substantially Complete. For purposes hereof, the Tenant Improvements shall be deemed to be "Substantially Completed" when they have been completed in accordance with the Plans (as defined in Exhibit B attached hereto) except for finishing details, minor omissions, decorations and mechanical adjustments of the type normally found on an architectural "punch list". (The definition of Substantially Completed shall also define the terms "Substantially Complete" and "Substantial Completion"). Subject to Landlord's obligation, if any, to perform Tenant Improvements and Landlord's obligations under Section 6 hereof, the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work)configuration. By taking possession of the Premises and Equipment SpacePremises, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space Premises or the Building except as may be expressly set forth hereinBuilding. If Landlord is delayed in delivering possession of the Premises and Equipment Space Premises, or any portion thereof, or any other spacespace due to the holdover or unlawful possession of such space by any party, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay . The Commencement Date shall nullify this Lease or give rise be delayed to any claim for damages on the part of Tenant. If Tenant takes extent that Landlord fails to deliver possession of the Premises or Equipment Space before the Commencement Datefor any reason including but not limited to, holding over by prior occupants. Any such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if delay in the Commencement Date does shall not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving subject Landlord written notice of termination after the Outside Delivery Dateto any liability for any loss or damage resulting therefrom. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days If the Commencement Date is delayed due to events of Force Majeure (as defined herein)delayed, the Termination Date under the Lease shall not be similarly extended. Notwithstanding the foregoing anything herein to the contrary, if the Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers Improvements in the Premises are incomplete on the Commencement Date for any reason whatsoever (other than as a result of holding over by prior occupants, in which event the above paragraph shall control with respect to the period that Landlord is delayed in delivering the Premises as a consequence of such holdover), the Commencement Date shall not be postponed or delayed. Instead, Tenant acknowledges that the Tenant Improvements will be performed in the condition required Premises during Business Hours subsequent to the Commencement Date. Landlord and Tenant agree to cooperate with each other in order to enable the Tenant Improvements to be performed by this Lease within thirty (30) days after Landlord in a timely manner and with as little inconvenience to the date operation of Tenant's delivery business as is reasonably possible. Notwithstanding anything herein to the contrary, any delay in the completion of Tenant's termination noticethe Tenant Improvements or inconvenience suffered by Tenant during the performance of the Tenant Improvements shall not subject Landlord to any liability for any loss or damage resulting therefrom or entitle Tenant to any credit, this Lease abatement or adjustment of Base Rent or other sums payable under the Lease. Landlord shall continue in full force and effect proceed with due diligence to Substantially Complete the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as Improvements within a reasonable amount of time following the Commencement Date.

Appears in 1 contract

Sources: Lease Agreement (Crossworlds Software Inc)

TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and ---------------- as described below and, unless sooner terminated, shall expireexpire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date”). The “Commencement Date” shall be the earlier of (a) the date on which Landlord tenders possession of the Premises to Tenant, with all of Landlord’s construction obligations, if any, “Substantially Completed” as provided in the Construction Rider attached as Exhibit B-1 (the “Construction Rider - Landlord Improvements”) or, in the event of any “Tenant Delay,” as defined in the Construction Rider - Landlord Improvements, the date on which Landlord could have done so had there been no such Tenant Delay; or (b) the date upon which Tenant actually occupies and conducts business in any portion of the Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (the “Scheduled Commencement Date”); provided, however, that Landlord shall not sooner terminated pursuant be liable for any claims, damages or liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. When the Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Commencement Date and Expiration Date in writing. Subject to the provisions of Exhibit B-1 Construction Rider - Landlord Improvements and Exhibit B-2 Construction Rider - Tenant Improvements, and provided that Tenant has delivered the insurance certificates called for in Section 11.1(e) — Certificates of Insurance, and given Landlord written notice prior to entry, Tenant shall have access to the Premises during normal Business Hours (“Early Access”), prior to the anticipated Commencement Date, commencing two (2) days after mutual execution and delivery of this Lease, on for Tenant to perform the Expiration DateTenant Improvements described in Exhibit B-2 Construction Rider - Tenant Improvements and to install Tenant’s furniture, fixtures and equipment, data information systems, security systems, computer and telephone cabling, computers and related office equipment, but only if during such Early Access, Tenant and Tenant’s employees, contractors and vendor do not interfere with Landlord’s contractor completing the Landlord Improvements. On Tenant agrees that Landlord shall not be liable in any way for any injury, loss or damage which may occur to any of Tenant’s property placed upon or installed in the Premises prior to the Commencement Date, the same being at Tenant’s sole risk, and Tenant shall be liable for all injury, loss or damage to persons or property arising as a result of such entry into the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject or its Representatives. During such Early Access Tenant shall not be obligated to pay Base Rent or Additional Rent prior to the completion of Commencement Date. Notwithstanding the Landlord Work). By taking possession of the Premises and Equipment Spaceforegoing, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If if Tenant takes possession of the Premises or Equipment Space before the Commencement DateDate for any purpose other than as expressly provided in this Section, such possession shall be subject to the terms and conditions of this Lease except thatand Tenant shall pay Base Rent and Additional Rent, prior and any other charges payable hereunder to Landlord for each day of possession before the Rent Commencement Date. If (A) within two (2) Business Days of the date of this Lease Tenant selects a Building standard paint and carpet which paint and carpet are promptly available (without long lead delay), Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if and (B) the Commencement Date does has not occur by occurred on or before the expiration of the date that which is one hundred fifty twenty (150120) days following the mutual execution date this Lease is fully executed and delivery delivered by each of Landlord and Tenant and Tenant delivers to Landlord all prepaid rents, the Security Deposit and all certificates of insurance as required by the terms and conditions of this Lease (the "Outside “Required Delivery Date"), Tenant, as its sole remedy, Tenant may terminate this Lease by giving Landlord written notice of termination on or before the earlier to occur of: (a) five (5) Business Days after the Outside Required Delivery Date; and (b) Commencement Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent rent and Security Deposit previously advanced by Tenant under this the Lease and and, so long as Tenant has not previously defaulted under any of its obligations under the Construction Rider, the parties hereto shall have no further responsibilities or obligations to each other with respect to this the Lease. Landlord and Tenant acknowledge and agree that that: (i) the Outside determination of the Commencement Date shall take into consideration the effect of any Tenant Delays; and (ii) the Required Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events strikes, acts of Force Majeure (as defined herein). Notwithstanding God, shortages of labor or materials, war, terrorist acts, civil disturbances and other causes beyond the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date reasonable control of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement DateLandlord.

Appears in 1 contract

Sources: Lease Agreement (Ditech Networks Inc)

TERM; POSSESSION. The Term term of this Lease (the "Term") for the Existing Premises and the Termination Premises shall commence on November 15, 1998 and, unless sooner terminated, shall expire on the Expiration Date set forth in the Basic Lease Information (the "Expiration Date"). The Term of this Lease for the First Expansion Premises shall commence ("First Expansion Premises Commencement Date") on the date Landlord delivers possession of the First Expansion Premises to Tenant. The parties anticipate that the First Expansion Premises Commencement Date will occur on or about the Scheduled First Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled First Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the First Expansion Premises are not ready for occupancy by the Scheduled First Expansion Premises Commencement Date. When the First Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the First Expansion Premises Commencement Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall commence ("First Expansion Premises Rent Commencement Date") on the date that is forty-five (45) days after the First Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the First Expansion Premises shall not commence until the First Expansion Premises Rent Commencement Date. The Term of this Lease for the Second Expansion Premises shall commence ("Second Expansion Premises Commencement Date") on the date Landlord delivers possession of the Second Expansion Premises to Tenant. The parties anticipate that the Second Expansion Premises Commencement Date will occur on or about the Scheduled Second Expansion Premises Commencement Date set forth in the Basic Lease Information (the "Scheduled Second Expansion Premises Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Second Expansion Premises are not ready for occupancy by the Scheduled Second Expansion Premises Commencement Date. When the Second Expansion Premises Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Second Expansion Premises Commencement Date and ---------------- Expiration Date in writing. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall expire, if commence ("Second Expansion Premises Rent Commencement Date") on the date which is forty-five (45) days after the Second Expansion Premises Commencement Date. Tenant's obligation to pay Base Rent and Additional Rent for the Second Expansion Premises shall not sooner terminated pursuant commence until the Second Expansion Premises Rent Commencement Date. The Term of the Lease with respect to the provisions Termination Premises shall terminate ("Termination Premises Termination Date") on January 31,1999, and with respect to the Termination Premises Tenant shall remain liable for those obligations accruing through the later of this Lease, on (a) the Expiration Date. On the Commencement Termination Premises Termination Date, or (b) the Premises and Equipment Space are accepted date Tenant actually vacates the Termination Premises. Any entry by Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession into any portion of the Premises and Equipment Space, Tenant agrees that prior to the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession applicable Commencement Date for such portion of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to all of the terms and conditions of this Lease Lease, except that, that Tenant shall not be obligated to pay Base Rent or Additional Rent for (a) the First Expansion Premises prior to the First Expansion Premises Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding or (b) the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject Second Expansion Premises prior to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Second Expansion Premises Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement Date.

Appears in 1 contract

Sources: Lease Agreement (Natus Medical Inc)

TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and ---------------- set forth in the Basic Lease Information (the “Commencement Date”) and, unless sooner terminated, shall expire, if not sooner terminated pursuant to the provisions of this Lease, expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date”) unless extended as set forth herein. Landlord shall not be liable for any claims, damages or liabilities if the Premises are not ready for occupancy by the Commencement Date. On Provided that Tenant has delivered the insurance certificates called for in Section 11.1(e) – Certificates of Insurance, the Security Deposit, and the prepaid Base Rent required under Section 3.1 – Base Rent, Landlord shall deliver possession of the Premises to Tenant as of the date of mutual execution and delivery of this Lease (the “Delivery Date”). Landlord shall install an exclusive Outdoor Area (defined in Section 44 below) demarcated by a vegetation hedge (as depicted in the attached Exhibit A). Commencing as of the Delivery Date, Tenant shall have access to the Premises during normal Business Hours to perform the Tenant Improvements described in Exhibit B - Construction Rider, to install Tenant’s furniture, fixtures and equipment, data information systems, security systems, computer and telephone cabling, computers and related office equipment, but only if during such period, Tenant and Tenant’s employees, contractors and vendors do not materially or adversely interfere with Landlord’s contractor completing work and renovations at the Project. Tenant shall not be obligated to pay Base Rent or Additional Rent prior to the Commencement Date, the Premises and Equipment Space are accepted by Tenant in "provided, however, commencing as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession Delivery Date, Tenant shall establish direct accounts with the all utility providers such that effective as of the Premises and Equipment SpaceDelivery Date, Tenant agrees that shall pay for and be liable for the Premises and Equipment Space are in good order and satisfactory conditioncost of any utilities, and that there are no representations trash disposal or warranties by Landlord regarding the condition of services provided to Tenant at the Premises. Notwithstanding the foregoing, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant if T▇▇▇▇▇ takes possession of the Premises or Equipment Space before the Commencement DateDate for any purpose other than as expressly provided in this Section, such possession shall be subject to the terms and conditions of this Lease except that, prior to the and Tenant shall pay Base Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such eventAdditional Rent, and subject any other charges payable hereunder to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and Landlord for each day of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of possession before the Commencement Date.

Appears in 1 contract

Sources: Lease Agreement (Corsair Gaming, Inc.)

TERM; POSSESSION. The Term term of this Lease (the "Term") shall commence on the Commencement Date and ---------------- as described below and, unless sooner terminated, shall expire, if not sooner terminated pursuant to the provisions of this Lease, expire on the Expiration Date. On the Commencement Date, the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly Date set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Basic Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease Information (the "Outside Delivery Expiration Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery . The "Commencement Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease " shall be deemed null and void and the earlier of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within a) thirty (30) days after the date on which Landlord tenders possession of the Premises to Tenant by written notice (after the Existing Tenant has vacated the Premises upon complete execution of a termination agreement with the Existing Tenant pursuant to the provisions of the next succeeding paragraph); or (b) the date upon which Tenant, with Landlord's delivery written permission, actually occupies and conducts business in any portion of the Premises. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (the "Scheduled Commencement Date"); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Premises are not ready for occupancy by the Scheduled Commencement Date. When the Commencement Date has been established, Landlord and Tenant shall at the request of either party confirm the Commencement Date and Expiration Date in writing. Tenant understands and agrees that the Premises are currently leased by another tenant (the "Existing Tenant's "). Landlord agrees to use its good faith efforts to negotiate a termination noticeof lease with the Existing Tenant and to regain possession of the Premises from the Existing Tenant by June 22, 1998, and deliver possession of the Premises to Tenant on July 15, 1998. Notwithstanding any provision contained herein to the contrary, Landlord shall not be obligated to pay any consideration to the Existing Tenant in order to gain possession of the Premises. After Landlord and Tenant have completely executed this Lease Lease, then upon the later of (a) the complete execution of a lease termination agreement by Landlord and the Existing Tenant, or (b) June 15, 1998, Tenant shall continue have access to the Premises for inspection of the Premises, subject to the terms of this Lease, including Tenant delivering to Landlord evidence of insurance required under this Lease, except that Tenant shall not be permitted to commence construction of Tenant Improvements in full force and effect the same as Premises prior to the Commencement Date. Notwithstanding the foregoing, if Tenant had Landlord has not delivered its termination noticepossession of the Premises to Tenant by October 14, and Tenant's termination notice will be null and void. Tenant's 1998, Tenant shall have the right to terminate as described herein this Lease by written notice to Landlord, and upon any such termination by Tenant, Landlord promptly shall be null return to Tenant (i) all sums paid by Tenant to Landlord under this Lease and void as (ii) the Letter of the Commencement DateCredit issued in favor of Landlord in connection with this Lease.

Appears in 1 contract

Sources: Lease Agreement (Perclose Inc)

TERM; POSSESSION. The Term term of this Lease (the “Term”) shall commence on the Commencement Date and ---------------- as described below and, unless sooner terminated, shall expire, if not sooner terminated pursuant to the provisions of this Lease, expire on the Expiration Date set forth in the Basic Lease Information (the “Expiration Date”). On the The “Commencement Date, ” shall be the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the date on which Landlord Work). By taking tenders possession of the Premises and Equipment Spaceto Tenant, with all of Landlord’s construction obligations “Substantially Completed” as provided in the Construction Rider attached as Exhibit B (the “Construction Rider”) or, in the event of any “Tenant agrees Delay,” as defined in the Construction Rider, the date on which Landlord could have done so had there been no such Tenant Delay. The parties anticipate that the Commencement Date will occur on or about the Scheduled Commencement Date set forth in the Basic Lease Information (the “Scheduled Commencement Date”); provided, however, that Landlord shall not be liable for any claims, damages or liabilities if the Premises and Equipment Space are in good order and satisfactory conditionnot ready for occupancy by the Scheduled Commencement Date, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly specifically set forth herein. If When the Commencement Date has been established, Landlord is delayed and Tenant shall at the request of either party confirm the Commencement Date and Expiration Date in delivering writing. In the event Landlord fails to deliver possession of the Premises to Tenant with the Tenant Improvements Substantially Completed on or before July 1, 2010, subject to force majeure delays (described in Section 26) and Equipment Space or Tenant Delays (defined in Exhibit B), then Tenant as its sole and exclusive remedy shall be entitled to an abatement of one day of Base Rent for each day after July 1, 2010 that the Tenant Improvements have not been Substantially Completed. Such day-for-day Base Rent abatement shall commence to apply upon the Commencement Date of the Lease and shall continue until applied in full, provided, however, that it is the intent of the parties that this day-for-day rent abatement be applied consecutively, not concurrently, with any other space, rent abatement or credit which may be then-applicable. In the event Landlord shall use reasonable efforts fails to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes deliver possession of the Premises to Tenant with the Tenant Improvements Substantially Completed on or Equipment Space before the Commencement DateSeptember 1, such possession shall be 2010, subject to the terms force majeure delays (described in Section 26) and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty Delays (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"defined in Exhibit B), Tenant, then Tenant as its sole remedy, may and exclusive remedy shall have the right to terminate this Lease by giving providing Landlord with ten (10) days’ prior written notice of termination after thereof, but in any event given before Landlord has Substantially Completed the Outside Delivery DateTenant Improvements. In such eventOther than as aforesaid, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities liability to Tenant for failure to deliver possession of the Premises to Tenant with Tenant Improvements Substantially Completed on or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein)before June 1, 2010. Notwithstanding the foregoing anything in this Lease to the contrary, if Tenant exercises its right to terminate this Lease is not fully executed by the parties by March 5, 2010, including without limitation, approval and signature by Landlord, Tenant and ▇▇▇▇▇ Fargo Bank, National Association (“▇▇▇▇▇ Fargo”), of the NDESA attached hereto as set forth Exhibit F, then each of the above but Landlord delivers the Premises to Tenant described deadlines in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein subparagraph shall be null extended one day for each day after March 5, 2010 until the Lease is fully executed by the parties and void as of the Commencement DateNDESA is fully executed by Landlord, Tenant and ▇▇▇▇▇ Fargo.

Appears in 1 contract

Sources: Lease Agreement (Mocon Inc)