Common use of Termination Right Clause in Contracts

Termination Right. A. Provided that there does not then exist an outstanding, uncured monetary or material non-monetary Event of Default, at any time after the earlier to occur of (a) the date which is five hundred forty (540) days following the Lease Commencement Date, or (b) April 30, 2014, Tenant shall have the right to terminate this Lease upon sixty (60) days prior written notice to Landlord. In addition, at any time and from time to time during the Term, Tenant shall have the right to terminate this Lease with respect to any Demised Premises Component (hereinafter defined) upon thirty (30) days prior written notice to Landlord with respect to such Demised Premises Component. As used herein, the term “Demised Premises Component” shall mean any of the following portions of the Demised Premises: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In the event Tenant terminates this Lease with respect to a Demised Premises Component, Tenant shall be entitled to a pro rata reduction of the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event of a termination of this Lease with respect to a Demised Premises Component, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of Tenant.

Appears in 2 contracts

Sources: Lease Agreement (Intelsat S.A.), Purchase and Sale Agreement (Intelsat S.A.)

Termination Right. A. Provided that there does not then exist an outstanding, uncured monetary or material non-monetary Event of Default, 5.1 If at any time after the earlier date of this Agreement and prior to occur Completion the Purchasers (or either of them) become aware of any breach(es) of the Sellers’ Warranties and/or any breach(es) by the Sellers of their obligations under Clause 6.2 such that, if Completion were to have occurred, the Purchasers (or either of them) would have been entitled to recover from the Sellers, by way of damages for breach of the Sellers’ Warranties and/or Clause 6.2 (as applicable), an amount in excess of fifty million dollars ($50,000,000) (ignoring for this purpose the effect of paragraph 3.1 of Schedule 7 (The Sellers’ Limitations of Liability)), then the Purchasers may, by notice in writing to the Sellers, inform the Sellers of such breach(es), specifying in reasonable detail the alleged breach(es), including the amount(s) of the claim(s) arising from such breach(es). 5.2 Upon receipt of notice in accordance with Clause 5.1, the Sellers shall have fifteen (15) Business Days to rectify the breach(es) specified in such notice. If the Sellers fail to rectify such breach(es) to the reasonable satisfaction of the Purchasers within such period, or if rectification of a breach is not possible, then the Sellers may, in their sole discretion, elect: (a) in the date which is five hundred forty case of each claim for breach of Clause 6.2 specified in such notice, to waive the provisions of paragraph 3.1 of Schedule 7 (540The Sellers’ Limitations of Liability) days following such that such paragraph 3.1 shall be read as if to exclude such claim from the Lease Commencement Date, or fifty million dollar ($50,000,000) limitation of liability referred to therein; and (b) April 30in the case of claims for breach of any of the Sellers’ Warranties specified in such notice: (i) if the aggregate amount of all such claims, 2014when substantiated, Tenant equals or exceeds forty million dollars ($40,000,000), that the maximum aggregate liability of the Sellers set out in paragraph 3.1 of Schedule 7 (The Sellers’ Limitations of Liability) shall be equal to the aggregate amount of all such claims when substantiated plus ten million dollars ($10,000,000); or (ii) if the aggregate amount of all such claims, when substantiated, is less than forty million dollars ($40,000,000), that the maximum aggregate liability of the Sellers set out in paragraph 3.1 of Schedule 7 (The Sellers’ Limitations of Liability) shall be fifty million dollars ($50,000,000), provided that, for the avoidance of doubt, any such election must be made in respect of all claims notified under Clause 5.1, and not just some only. 5.3 For the avoidance of doubt, the Purchasers shall be permitted to update any notice served under Clause 5.1 to include details of any further breach(es) of the Sellers’ Warranties and/or by the Sellers of their obligations under Clause 6.2, and the provisions of Clause 5.2 shall apply in relation to the original (or previously updated) notice as so updated, save that the fifteen (15) days shall run from the date of the updated notice, rather than from the date of the original (or previously updated) notice. 5.4 If the Sellers do not make an election in accordance with Clause 5.2 within twenty (20) Business Days of receipt of notice in accordance with Clause 5.1, the Purchasers shall not be obliged to complete the purchase of the Shares, and shall have the right to terminate this Lease upon sixty Agreement by giving notice in writing to the Sellers by not later than twenty five (6025) days prior written Business Days after service of notice to Landlord. in accordance with Clause 5.1. 5.5 In additionthe event that this Agreement is terminated in accordance with Clause 5.4, at any time and from time to time during the Term, Tenant neither Party shall have any claim under this Agreement of any nature whatsoever against the right other Party (except in respect of any rights and liabilities which have accrued before termination in relation to terminate this Lease with respect antecedent breaches and except in relation to any Demised Premises Component (hereinafter defined) upon thirty (30) days prior written notice to Landlord with respect to such Demised Premises Component. As used herein, the term “Demised Premises Component” shall mean any of the following portions of the Demised Premises: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”Surviving Provisions); (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In the event Tenant terminates this Lease with respect to a Demised Premises Component, Tenant shall be entitled to a pro rata reduction of the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event of a termination of this Lease with respect to a Demised Premises Component, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of Tenant.

Appears in 2 contracts

Sources: Share Sale and Purchase Agreement (Abb LTD), Share Sale and Purchase Agreement (Chicago Bridge & Iron Co N V)

Termination Right. A. Provided that there does not then exist an outstanding, uncured monetary or material non-monetary Event of Default, at any time after the earlier to occur of (a) the date which is five hundred forty (540) days following the Lease Commencement Date, or (b) April 30, 2014, Tenant shall have the one-time right to terminate this Lease their lease after the twenty-fourth (24th) month of the lease term upon no less than sixty (60) days prior written notice notification to the Landlord. In additionUpon written notification, Tenant shall deliver to Landlord a termination fee in the amount of unamortized (over the remaining term of this Lease) tenant improvements, leasing commissions and three (3) months base rent. This lease consists of forty-one (41) Articles consecutively numbered. Rules and regulations of the building referred to herein which constitute a part of this lease 1. The sidewalks, entrances, lobby, garage, elevators, stairways and public corridors shall be used only as a means of ingress and egress and shall remain unobstructed at any time all times. The entrance and exit doors of all suites are to be kept closed at all times, except as required for orderly passage to and from time to time during a suite. Loitering or congregating in any part of the Term, Tenant building or obstruction of any means of ingress or egress shall not be permitted. Doors and windows shall not be covered or obstructed except that Landlord shall have the right to terminate this Lease with respect require Tenant to keep the drapes closed at all times. 2. Plumbing fixtures shall not be used for any purposes other than those for which they were constructed, and no rubbish, newspapers, trash or other substances of any kind shall be thrown into them. Walls, floors and ceilings shall not be defaced in any way, and no one shall be permitted to ▇▇▇▇, drive nail, screw or drill into, paint, or in any way mar any building surface, except that pictures, certificates, licenses and similar items normally used in Tenant’s business may be carefully attached to the walls of the demised premises by Tenant in a manner to be prescribed by Landlord. Upon removal of such items by Tenant, any damage to the walls or other surfaces, except minor nail holes, shall be repaired by Tenant. 3. No awning, shade, sign, advertisement or notice shall be inscribed, painted, displayed or affixed on, in or to any Demised Premises Component (hereinafter defined) upon thirty (30) days window or door or any other part of the outside or inside of the building or the demised premises. No window displays or other public displays shall be permitted, without the prior written notice to consent of Landlord. Tenant shall not solicit other tenants in the building. Drapes may be installed by tenants provided they are of such color, material, construction and installation as may be prescribed by landlord. All tenant identification on public corridor doors will be installed by Landlord with respect to such Demised Premises Componentfor Tenant, but the cost shall be paid by Tenant. As used herein, the term “Demised Premises Component” shall mean any of the following portions of the Demised Premises: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, No lettering or signs other than the Data Roomname of the Tenant will be permitted on public corridor doors, with the Control Center size and type of letters to be prescribed by Landlord. The bulletin board or directory of the Network Operations Center)building will be provided exclusively for the display of the name and location of Tenant only, and Landlord reserves the right to exclude all other names therefrom and to impose on Tenant Landlord’s building standard charge for each and every name other than the name of Tenant which Tenant may desire to be placed upon such bulletin board and to which Landlord may consent. All requests for listing of Tenants on the Directory of Building Tenants must be submitted to the office of the building in writing. Landlord reserves the right to approve all listing requests. 4. Electric wiring of every kind and telephone outlets shall be installed in a manner as will be prescribed by Landlord. The location of convenience outlets, electric light outlets, power outlets and telephone outlets shall be approved by Landlord, but the cost of installation thereof shall be borne by Tenant. 5. The weight, size and position of all safes and other unusually heavy objects used or placed in the building shall be prescribed by Landlord and shall, in all cases, stand on metal plates of such size as shall be prescribed by Landlord. The repair of any damage done to the building or property therein by putting in or taking out or maintaining such safes or other unusually heavy objects shall be paid for by Tenant. 6. All freight, furniture, fixtures and other personal property shall only be moved into, within and out of the building at times designated by and under the super vision of Landlord and in accordance with such regulations as may be posted in the office of the building. In no event will Landlord be responsible for any loss or damage to such freight, furniture, fixtures or personal property from any cause. 7. No improper noises, vibrations or odors will be permitted in the event building, nor shall any person be permitted to interfere in any way with tenants or those having business with them. No person will be permitted to bring or keep within the building any animal, bird or bicycle. No person shall throw trash, refuse, cigarettes or other substances of any kind any place within or out of the building, except in the refuse containers provided therefor. No person shall be employed by Tenant terminates to do janitor work in any part of said building without the written consent of Landlord. Landlord reserves the right to exclude or expel from the building any person who, in the judgment of Landlord, is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of the rules and regulations of said building. 8. The storage of goods, wares or merchandise on the premises will not be permitted except in areas specifically designated by Landlord for storage. No auction, public or private, will be permitted in the premises. Articles of unusual size or weight and articles which exceed the design floor weight of the building are not permitted in the building, unless permitted by Landlord in writing. 9. The requirements of Tenant will be attended only upon application at the office of the building. Landlord’s employees shall not perform any work or do anything outside of their regular duties unless under special instruction from the office of the building, and no such employee shall admit any person (Tenant or otherwise) to any office without specific instructions from the office of the building. 10. All keys shall be obtained from Landlord, and all keys shall be returned to Landlord upon termination of this Lease with respect lease. Tenant shall not change the locks or install other locks on the doors. 11. Any Tenant using the premises after regular business hours or on non-business days shall lock any entrance doors to the building used by Tenant immediately after entering or leaving the building. Tenant, his employees, agents or associates, or other persons entering or leaving the building when it is so locked may be required to sign the building register when so doing, and any watchman in charge may refuse to admit Tenant or any of Tenant’s employees, agents or associates, or any other person to the building while it is so locked without a Demised Premises Componentpass previously arranged or other satisfactory identification showing such person’s right to access to the building at such time. However, Landlord assumes no responsibility whatsoever in connection therewith and shall not be liable for any damage resulting from any error in regard to any such pass or identification or from the admission of or refusal to admit, any person to said building. 12. Tenant shall be entitled deemed to have read these rules and to have agreed to abide by them as a pro rata reduction condition to his occupancy of the Monthly Base Rent space herein leased. THIS LEASE AGREEMENT WILL NOT BECOME EFFECTIVE OR A BINDING AGREEMENT BETWEEN THE PARTIES UNTIL IT HAS BEEN COUNTERSIGNED BY CITINATIONAL-BUCKEYE BUILDING CO. AND A COPY EXECUTED BY ALL THE PARTIES HERETO HAS BEEN RETURNED TO THE TENANT. LANDLORD: TENANT: CITINATIONAL-BUCKEYE BUILDING CO., CITY NATIONAL BANK a California limited partnership a national banking association By: OLIVE-SIXTH BUCKEYE CO., General Partner By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ By: /s/ [ILLEGIBLE] ▇▇▇▇ ▇▇▇▇▇▇▇▇▇, General Partner ▇▇▇ ▇. ▇▇▇▇▇ ▇▇. ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ National Bank [ILLEGIBLE] [CITY NATIONAL BANK LOGO] ▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ 11th Floor Furniture Plan This lease consists of forty-one (based 41) Articles consecutively numbered. Rules and regulations of the building referred to herein which constitute a part of this lease 1. The sidewalks, entrances, lobby, garage, elevators, stairways and public corridors shall be used only as a means of ingress and egress and shall remain unobstructed at all times. The entrance and exit doors of all suites are to be kept closed at all times, except as required for orderly passage to and from a suite. Loitering or congregating in any part of the building or obstruction of any means of ingress or egress shall not be permitted. Doors and windows shall not be covered or obstructed except that Landlord shall have the right to require Tenant to keep the drapes closed at all times. 2. Plumbing fixtures shall not be used for any purposes other than those for which they were constructed, and no rubbish, newspapers, trash or other substances of any kind shall be thrown into them. Walls, floors and ceilings shall not be defaced in any way, and no one shall be permitted to ▇▇▇▇, drive nail, screw or drill into, paint, or in any way mar any building surface, except that pictures, certificates, licenses and similar items normally used in Tenant’s business may be carefully attached to the walls of the demised premises by Tenant in a manner to be prescribed by Landlord. Upon removal of such items by Tenant, any damage to the walls or other surfaces, except minor nail holes, shall be repaired by Tenant. 3. No awning, shade, sign, advertisement or notice shall be inscribed, painted, displayed or affixed on, in or to any window or door or any other part of the outside or inside of the building or the demised premises. No window displays or other public displays shall be permitted, without the prior written consent of Landlord. Tenant shall not solicit other tenants in the building. Drapes may be installed by tenants provided they are of such color, material, construction and installation as may be prescribed by landlord. All tenant identification on public corridor doors will be installed by Landlord for Tenant, but the cost shall be paid by Tenant. No lettering or signs other than the name of the Tenant will be permitted on public corridor doors, with the size and type of letters to be prescribed by Landlord. The bulletin board or directory of the building will be provided exclusively for the display of the name and location of Tenant only, and Landlord reserves the right to exclude all other names therefrom and to impose on Tenant Landlord’s building standard charge for each and every name other than the name of Tenant which Tenant may desire to be placed upon such bulletin board and to which Landlord may consent. All requests for listing of Tenants on the rentable area Directory of Building Tenants must be submitted to the office of the Demised Premises Component)building in writing. Landlord reserves the right to approve all listing requests. 4. Electric wiring of every kind and telephone outlets shall be installed in a manner as will be prescribed by Landlord. The location of convenience outlets, electric light outlets, power outlets and telephone outlets shall be approved by Landlord, but the cost of installation thereof shall be borne by Tenant. 5. The weight, size and position of all safes and other unusually heavy objects used or placed in the building shall be prescribed by Landlord and shall, in all cases, stand on metal plates of such size as shall be prescribed by Landlord. The repair of any damage done to the building or property therein by putting in or taking out or maintaining such safes or other unusually heavy objects shall be paid for by Tenant. 6. All freight, furniture, fixtures and other personal property shall only be moved into, within and out of the building at times designated by and under the super vision of Landlord and in accordance with such regulations as may be posted in the office of the building. In no event will Landlord be responsible for any loss or damage to such freight, furniture, fixtures or personal property from any cause. 7. No improper noises, vibrations or odors will be permitted in the event building, nor shall any person be permitted to interfere in any way with tenants or those having business with them. No person will be permitted to bring or keep within the building any animal, bird or bicycle. No person shall throw trash, refuse, cigarettes or other substances of a any kind any place within or out of the building, except in the refuse containers provided therefor. No person shall be employed by Tenant to do janitor work in any part of said building without the written consent of Landlord. Landlord reserves the right to exclude or expel from the building any person who, in the judgment of Landlord, is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of the rules and regulations of said building. 8. The storage of goods, wares or merchandise on the premises will not be permitted except in areas specifically designated by Landlord for storage. No auction, public or private, will be permitted in the premises. Articles of unusual size or weight and articles which exceed the design floor weight of the building are not permitted in the building, unless permitted by Landlord in writing. 9. The requirements of Tenant will be attended only upon application at the office of the building. Landlord’s employees shall not perform any work or do anything outside of their regular duties unless under special instruction from the office of the building, and no such employee shall admit any person (Tenant or otherwise) to any office without specific instructions from the office of the building. 10. All keys shall be obtained from Landlord, and all keys shall be returned to Landlord upon termination of this Lease with respect lease. Tenant shall not change the locks or install other locks on the doors. 11. Any Tenant using the premises after regular business hours or on non-business days shall lock any entrance doors to the building used by Tenant immediately after entering or leaving the building. Tenant, his employees, agents or associates, or other persons entering or leaving the building when it is so locked may be required to sign the building register when so doing, and any watchman in charge may refuse to admit Tenant or any of Tenant’s employees, agents or associates, or any other person to the building while it is so locked without a Demised Premises Componentpass previously arranged or other satisfactory identification showing such person’s right to access to the building at such time. However, Landlord assumes no responsibility whatsoever in connection therewith and shall not be liable for any damage resulting from any error in regard to any such pass or identification or from the costs admission of segregating the Demised Premises Component and the remaining Demised Premises or refusal to admit, any person to said building. 12. Tenant shall be deemed to have read these rules and to have agreed to abide by them as a condition to his occupancy of the sole responsibility of Tenantspace herein lease. THIS LEASE AGREEMENT WILL NOT BECOME EFFECTIVE OR A BINDING AGREEMENT BETWEEN THE PARTIES UNTIL IT HAS BEEN COUNTERSIGNED BY CITINATIONAL BUCKEYE BUILDING CO. AND A COPY EXECUTED BY ALL THE PARTIES HERETO HAS BEEN RETURNED TO THE TENANT.

Appears in 1 contract

Sources: Office Building Lease (City National Corp)

Termination Right. A. Provided that there does Providing Tenant is not then exist an outstanding, uncured monetary or material non-monetary Event in default under any terms of Default, at any time after the earlier to occur of (a) the date which is five hundred forty (540) days following the Lease Commencement Date, or (b) April 30, 2014lease, Tenant shall have the right to terminate this Lease lease effective any time after 8/31/98 upon sixty (60) days prior advance written notice to LandlordLandlord (notice can be given to Landlord no earlier than 6/30/98) and only upon payment of all unamortized tenant finish allowance and brokerage commissions remaining through the lease expiration of 8/15/2000. In additionThe amortization rate for the Tenant Finish Allowance and Brokerage Commissions shall be 11% per annum Simple Interest. Except as herein and hereby modified and amended the Agreement of Lease shall remain in full force and effect and all the terms, at any time provisions, covenants and conditions thereof are hereby ratified and confirmed. DATED AS OF THE 27 DAY OF JUNE, 1995. WITNESS AETNA LIFE INSURANCE COMPANY: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ------------------------------ ------------------------------ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title: Director WITNESS: 1ST TECH CORPORATION /s/ ▇▇▇ HOUSE /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ------------------------------ ------------------------------ By: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Title: CEO THIRD AMENDMENT TO LEASE AGREEMENT BETWEEN AETNA LIFE INSURANCE COMPANY, AS LANDLORD, AND 1ST TECH CORPORATION , AS TENANT To be attached to and from time to time during a part of Lease made the Term18th day of May, 1995 (which together with any amendments, modifications and extensions thereof, is herein called Lease), between Landlord and Tenant, covering a total of 26,315 square feet an located at ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇, known as ▇▇▇▇▇▇ 3. WITNESSETH that the Lease is hereby modified and amended as follows: RIGHT OF FIRST REFUSAL Landlord is the owner of the herein demised premises, as well as the adjacent 7,423 square feet of space. It is agreed that Tenant shall have the right of first refusal to terminate this Lease with respect lease the adjacent space from the Landlord subject to any Demised Premises Component (hereinafter defined) upon thirty (30) days prior written notice to Landlord with respect to such Demised Premises Component. As used herein, the term “Demised Premises Component” shall mean any of the following portions of the Demised Premises: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center)existing leases in place. In the event a prospective tenant desires to lease this space from Landlord, Landlord shall notify Tenant terminates thereof in the manner provided herein for notice, whereupon Tenant shall have five (5) days after receipt to such notice in which to elect to exercise Tenant's right of, title or interest in the adjacent space and this Lease with respect to a Demised Premises Componentright of first refusal shall terminate and be of no further force and effect. If, on the other hand, Tenant exercise it right of first refusal in the manner provided above, the lease of the adjacent property shall be entitled consummated at a fair market rental rate. Except as herein and hereby modified and amended the Agreement of Lease shall remain in full force and effect and all the terms, provisions, covenants and conditions thereof are hereby ratified and confirmed. DATED AS OF THE 28 DAY OF JUNE, 1995. WITNESS: AETNA LIFE INSURANCE COMPANY: Allegis Realty /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ------------------------------ ------------------------------ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title: Director WITNESS: 1ST TECH CORPORATION /s/ ▇▇▇ HOUSE /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ------------------------------ ------------------------------ By: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Title: CEO FOURTH AMENDMENT TO LEASE AGREEMENT BETWEEN AETNA LIFE INSURANCE COMPANY, AS LANDLORD, AND 1ST TECH CORPORATION, AS TENANT To be attached to and form a pro rata reduction part of Lease made the Monthly Base Rent 18th day of May, 1995 (based on which together with any amendments, modifications and extensions thereof, is hereinafter called the rentable area Lease), between Landlord and Tenant, covering a total of the Demised Premises Component). In the event of a termination of this Lease with respect to a Demised Premises Component26,315 square feet and located at ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of Tenant▇▇▇▇▇▇, ▇▇▇▇▇, known as ▇▇▇▇▇▇ 3.

Appears in 1 contract

Sources: Lease Agreement (Tanisys Technology Inc)

Termination Right. A. Provided that there does not then exist an outstandingLandlord and Tenant hereby agree to each use their commercially reasonable, uncured monetary good-faith efforts to resolve the dispute with the Existing Tenant regarding the Existing Tenant’s occupancy of the Data Room (the “Data Room Resolution”) on or material non-monetary Event of Default, at any time after before the earlier to occur of (a) the date which is five hundred forty (540) days following the Lease Commencement Date. In the event that Landlord fails to achieve the Data Room Resolution on or before July 26, or (b) April 302010, 2014, then Tenant shall have the right to terminate this Lease upon sixty (60) days prior written notice to Landlord. In addition, at any time and from time to time during the Term, Tenant shall have the right to terminate cancel this Lease with respect to the Data Room only at any Demised Premises Component (hereinafter defined) upon thirty (30) days prior time on or after July 26, 2010 by delivering written notice to Landlord with respect to such Demised Premises Component. As used herein, the term “Demised Premises Component” shall mean any of the following portions of the Demised Premises: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data RoomTermination Notice); (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up thereafter to 20,000 contiguous rentable square feet of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center)Landlord. In the event Provided that Tenant terminates this Lease with respect to a Demised Premises Componentthe Data Room in accordance with the terms of this Section 4.2(b), then (i) this Lease shall automatically terminate and be of no further force or effect with respect to the Data Room only as of the date (the “Termination Date”) upon which Tenant delivers the Termination Notice to Landlord, (ii) Landlord and Tenant shall be entitled to a pro rata reduction relieved of the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event of a termination of their respective obligations under this Lease with respect to a Demised Premises Componentthe Data Room only as of the Termination Date, (iii) the costs of segregating the Demised Premises Component and the remaining Demised Premises Fixed Rent due hereunder shall be reduced by $911.00 per month to exclude the sole responsibility Data Room which the parties hereby stipulate contains five hundred (500) rentable square feet, (iv) Tenant’s Proportionate Share shall be reduced to 49.88% to exclude the Data Room, (v) Landlord shall refund to Tenant within thirty (30) days following the Termination Date an amount equal to $911.00, as a reduction of Tenantthe Security Deposit and (vi) the number of “Parking Spaces,” as that term is defined in Article 28 below shall be reduced by two (2) based upon the exclusion of the Data Room.

Appears in 1 contract

Sources: Lease Agreement (Mindspeed Technologies, Inc)

Termination Right. A. Provided that there does not then exist an outstandingNotwithstanding anything to the contrary contained in Paragraph 14.1, uncured monetary or material non-monetary Event of Default, at any time after the earlier to occur of if: (a) the Premises are totally damaged or are rendered wholly untenantable; (b) the Building shall be so damaged that, in Landlord’s reasonable opinion, substantial alteration, demolition, or reconstruction of the Building shall be required (whether or not the Premises are so damaged or rendered untenantable); (c) in Landlord’s reasonable judgment, repairs cannot reasonably be completed within one hundred twenty (120) days after the date which of discovery of the damage (when such repairs are made without the payment of overtime or other premiums); (d) any Mortgagee requires that the insurance proceeds or any portion thereof be used to retire the Mortgage debt, or any ground lessor shall terminate the ground lease; (e) any damage to the Building is five hundred forty not fully covered by Landlord’s insurance policies; (540f) Landlord decides to rebuild the Building or Common Areas so that they will be substantially different structurally or architecturally; or (g) any damage during the final eighteen (18) months of the Term renders the Premises wholly untenantable, then, in any of the foregoing events, Landlord may, not later than ninety (90) days following the date of discovery of the damage, terminate this Lease Commencement Date, or (b) April 30, 2014, Tenant shall have the by notice to Tenant. If Landlord elects to exercise its right to terminate this Lease upon sixty (60) days prior written notice pursuant to Landlord. In addition, at any time and from time to time during the Term, Tenant shall have the right to terminate this Lease with respect to any Demised Premises Component (hereinafter defined) upon thirty (30) days prior written notice to Landlord with respect to such Demised Premises Component. As used herein, the term “Demised Premises Component” shall mean any of the following portions of the Demised PremisesParagraph 14.2: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto Term shall expire upon the thirtieth (the “Data Room”)30th) day after notice of such termination is given; (ii) Tenant shall vacate the control center facility Premises and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (surrender the “Control Center”), same to Landlord; (iii) Tenant’s liability for Rent (except accrued Rent) shall cease as of the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (date of the “Network Operations Center”), and damage; (iv) up to 20,000 contiguous rentable square feet any prepaid Rent for any period after the date of the office portion damage shall be refunded by Landlord to Tenant; and (v) those provisions of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In the event Tenant terminates this Lease with respect which are expressly stated to a Demised Premises Component, Tenant shall be entitled to a pro rata reduction of the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event of a survive expiration or earlier termination of this Lease with respect to a Demised Premises Component, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of Tenantsurvive.

Appears in 1 contract

Sources: Lease Agreement (Grom Social Enterprises, Inc.)

Termination Right. A. Provided that there does not then exist an outstanding, uncured monetary or material nonTenant shall have the one-monetary Event of Default, time right to terminate the Lease effective at any time after the earlier completion of Month 48 of the initial Lease Term (the “Effective Date”); provided that Tenant satisfies all of the following requirements: 2.4.1 Tenant shall have provided Landlord with written notice of Tenant’s intention to occur exercise the option to terminate the Lease, which notice must be received by Landlord no later than six (6) months prior to the Effective Date; 2.4.2 As of (a) the date which is five hundred forty (540) days following that Tenant notifies Landlord of Tenant’s intention to terminate the Lease Commencement and as of the Effective Date, there shall be no material Event of Default by Tenant under this Lease. For purposes of this subparagraph a “material Event of Default” shall mean any default involving claims estimated at $25,000.00 or (b) April 30, 2014more. 2.4.3 Except for space within the Premises subleased by Tenant as provided for in paragraph 4.16.7, Tenant shall not have assigned or subleased more than twenty-five percent (25%) of the right to terminate this Lease upon sixty (60) days prior written notice to Landlord. In addition, at any time and from time to time during rentable square footage of the Term, Premises; 2.4.4 Tenant shall have the right to terminate this Lease with respect to any Demised Premises Component (hereinafter defined) upon reimbursed Landlord no later than thirty (30) days prior written notice to Landlord with respect to such Demised Premises Component. As used herein, the term “Demised Premises Component” shall mean any in advance of the following portions Effective Date for the unamortized portion of the Demised Premises: (i) the data roomTenant Improvement Allowance, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); and (ii) all reasonable brokerage commissions incurred by Landlord in relationship to the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet execution of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Roomthis Lease; provided that, the Control Center Tenant Improvement Allowance and brokerage commissions shall be amortized on a straight-line basis over the Network Operations Center)Lease Term bearing interest at a rate of six percent (6%) per annum. In Within thirty (30) days after the event Commencement Date, Landlord shall provide Tenant terminates with a written statement specifically identifying the particular costs and expenses to be reimbursed, in whole or part, pursuant to this Lease with respect paragraph 2.4.4 should there be a subsequent termination hereunder; and provided, further, that notwithstanding anything herein to the contrary, if Landlord fails to include a Demised Premises Componentcost or expense in the itemization, Tenant shall not be entitled obligated to a pro rata reduction of pay for the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event of a termination of cost or expense, in whole or part, under this Lease with respect to a Demised Premises Component, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of Tenantparagraph 2.4.

Appears in 1 contract

Sources: Triple Net Lease (HouseValues, Inc.)

Termination Right. A. Provided that there does not then exist an outstanding, uncured monetary or material non-monetary Event of Default, at any time after the earlier to occur of (a) the date which is five hundred forty (540) days following the Lease Commencement Date, or (b) April 30, 2014, Tenant shall have the right to terminate the Lease and associated parking as to a portion of the Premises at any time after January 1, 2011 (the “Effective Termination Date”); provided that Tenant satisfies all of the following requirements: (a) Tenant’s right to terminate shall be limited to “full quadrants” of the Building based on the following schedule: (i) if Tenant has expanded into Suite 125, the quadrants shall be terminated in the following order: Suite 150, 100, 175 and 125; or (ii) if Tenant has not expanded into Suite 125, the quadrants shall be terminated in the following order: Suite 175, 150 and 100. If Tenant exercises its right to terminate a “quadrant”, Tenant may not terminate an additional “quadrant” until twelve (12) months after the Effective Termination Date of the previously terminated quadrant. (b) Tenant shall have provided Landlord with written notice of Tenant’s intention to exercise the option to terminate a portion of the Lease, which notice must be received by Landlord no later than twelve (12) months prior to the Effective Termination Date; (c) As of the date that Tenant notifies Landlord of Tenant’s intention to terminate the Lease as to a particular quadrant and as of the Effective Termination Date, there shall be no continuing Event of Default (beyond applicable notice and cure periods) by Tenant under this Lease upon sixty Lease; and (60d) days prior Tenant shall pay to Landlord at the time Tenant gives written notice to LandlordLandlord as provided for in Subparagraph 10(b), above a termination fee, prorated as to that portion of the Premises for which the Lease is terminated. In additionThe termination fee shall equal the sum of the unamortized portion of (i) all brokerage commissions incurred by Landlord in relationship to the execution of this Lease, and (ii) the Tenant Improvement Allowance and the Additional Improvement Allowance; provided that, the Tenant Improvement Allowance, the Additional Improvement Allowance, and the brokerage commissions shall be amortized on a straight-line basis over the Lease Term bearing interest at any time and from time a rate of eight percent (8%) per annum. (e) Upon the Effective Termination Date pursuant to time during the Termthis paragraph, Tenant shall have vacate and surrender the right terminated quadrant to terminate this Landlord as provided for in the Lease. All rights and obligations of Tenant under the Lease with respect to any Demised Premises Component (hereinafter defined) upon thirty (30) days prior written notice the terminated quadrant shall cease to Landlord with respect to such Demised Premises Component. As used herein, the term “Demised Premises Component” shall mean any exist as of the following portions of Effective Termination Date. Notwithstanding the Demised Premises: (iforegoing, Tenant’s audit rights under Section 5(i) shall survive the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In the event Tenant terminates this Lease with respect to a Demised Premises Component, Tenant shall be entitled to a pro rata reduction of the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event termination of a termination of this Lease with respect to a Demised Premises Component, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of Tenantquadrant.

Appears in 1 contract

Sources: Lease Agreement (Leapfrog Enterprises Inc)

Termination Right. A. Provided that there does Tenant is not then exist an outstanding, uncured in monetary default under the terms and conditions of this Lease or material non-monetary Event default (beyond any applicable notice and cure periods) under the terms and conditions of Defaultthis Lease as of the time of exercise of the “Termination Right” (as defined below), at any time after or as of the earlier “Termination Dates” (as defined below), Landlord hereby grants to occur Tenant a right to terminate this Lease (the “Termination Right”) upon strict compliance with the terms and conditions hereinafter set forth. Tenant may only exercise the Termination Right as of the expiration of the twenty-fourth (a24th) (“1st Termination Date”) or forty-eighth (48th) (“2nd Termination Date”) full calendar month following the date which is five Lease Commencement Date (the “Termination Dates”), (ii) Tenant must provide Landlord with written notice (the “Termination Notice”) not less than one hundred forty and eighty (540180) days prior to the 1st Termination Date or the 2nd Termination Date, as applicable, that it intends to exercise the Termination Right and terminate the Lease upon the expiration of the twenty-fourth (24th) or forty-eighth (48th) full calendar month following the Lease Commencement Date, as applicable, and (iii) Tenant shall include with the Termination Notice a cashiers or certified check, made payable to Landlord, in an amount equal to the sum of (a) Landlord’s then “Unamortized Brokerage Commissions” (as defined below), plus, (b) April 30, 2014, Tenant shall have the right to terminate this Lease upon sixty Landlord’s then “Unamortized Abated Rent” (60as defined below) days prior written notice to Landlord. In addition, at any time and from time to time during the Term, Tenant shall have the right to terminate this Lease with respect to any Demised Premises Component (hereinafter defined) upon thirty (30) days prior written notice to Landlord with respect to such Demised Premises Component. As used herein, the term “Demised Premises Component” shall mean any of the following portions of the Demised Premises: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data RoomTermination Payment”); (ii) . Landlord grants the control center facility Termination Right contained herein to Tenant in consideration of Tenant’s strict compliance with the provisions hereof, including, without limitation, the manner and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet time of exercise of the office portion Termination Right and the timely payment of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In the event Tenant terminates this Lease with respect to a Demised Premises Component, Tenant shall be entitled to a pro rata reduction of the Monthly Base Rent (based on the rentable area of the Demised Premises Component)Termination Payment. In the event of a termination of this Lease any failure by Tenant to exercise the Termination Right in strict accordance with respect to a Demised Premises Component, the costs of segregating the Demised Premises Component terms and the remaining Demised Premises shall be the sole responsibility of Tenant.conditions set

Appears in 1 contract

Sources: Office Lease (COUPONS.com Inc)

Termination Right. Provided Lessee is not in default hereinunder, has no sublet or assigned its Premises and has otherwise kept and performed all obligations of lessee on its part to be performed, lessor hereby agrees that lessee may elect to terminate the Lease pursuant to the following terms and conditions: A. Provided that there does not then exist an outstandingAfter the expiration of the seventh (7th) year of the Lease Term (the “Termination Date”), uncured monetary Lessee may terminate this Lease. B. Lessee shall provide lessor with written notice of its intent to terminate (the “Termination Notice”) no later than 180 days prior to Lessee’s desired Termination Date (the “Termination Notice Date”). C. lessee shall surrender the Premises on or material non-monetary Event before the Termination Date in accordance with the terms of Default, at any time after the earlier Lease. D. Lessee shall pay to occur lessor a cancellation fee (the “Cancellation Fee”) equal to the sum of the following items: (ai) the date which is five hundred forty (540) days following present value of all Base Rent payments due and payable under the Lease Commencement Dateas it may have been extended, or discounted at 8.0%, (bii) April 30the unamortized Special Improvement Rent, 2014amortized at 10.5%, Tenant (iii) the unamortized legal fees and brokerage commissions paid by lessor in connection with this Lease, which shall have the right be paid to terminate this Lease upon sixty (60) days prior written notice to Landlord. In addition, at any time and from time to time during the Term, Tenant shall have the right to terminate this Lease with respect to any Demised Premises Component (hereinafter defined) upon lessor within thirty (30) days prior written of Lessor’s notice to Landlord Lessee of the amount of the Cancellation Fee. E. Any notice or payment to be given by Lessee hereunder not given in accordance herewith, time being of the essence, shall render the option to terminate, at lessor’s option, void and of no further force and effect. F. Provided that all terms and conditions hereof and of the Lease have been performed by Lessee as of the Termination Date, then this Lease shall be deemed terminated subject to Lessee’s obligation to surrender the Premises in accordance with respect to such Demised Premises Component. As used hereinthe terms of the Lease, the term “Demised Premises Component” shall mean survival of lessee’s obligation to pay adjustments in Operating Expenses, the survival of any of the following portions of the Demised Premises: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”)indemnities given hereunder, and (iv) up Lessee’s obligation to 20,000 contiguous rentable square feet of remove the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In the event Tenant terminates this Lease with respect to a Demised Premises Component, Tenant shall be entitled to a pro rata reduction of the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event of a termination accessway described in Section 18 of this Lease with respect to a Demised Premises Component, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of TenantAddendum.

Appears in 1 contract

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

Termination Right. A. Provided that there does the Original Tenant is not then exist an outstandingin default under the Lease, uncured monetary or material non-monetary Event as amended, as of Default, at any time after the earlier to occur of (a) the date which of Tenant's delivery of the "Termination Notice," as that term is five hundred forty (540) days following defined below, the Lease Commencement Date, or (b) April 30, 2014, Original Tenant shall have the a one-time right to terminate this Lease upon sixty the Lease, as amended hereby, effective as of October 31, 2011 (60the "Termination Date"), provided that (i) days prior Landlord receives written notice to Landlord. In addition(the "Termination Notice") from Tenant on or before October 31, at any time and from time to time during the Term2010, stating that Tenant shall have the irrevocably exercises its right to terminate the Lease, as amended hereby, pursuant to the terms and conditions of this Lease with respect to any Demised Premises Component (hereinafter defined) upon thirty (30) days prior written notice to Landlord with respect to such Demised Premises Component. As used hereinSection 8, the term “Demised Premises Component” shall mean any of the following portions of the Demised Premises: (i) the data room, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); and (ii) the control center facility and support spaceTenant pays to Landlord, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet concurrently with its delivery of the office portion Termination Notice, as an early termination fee, an amount equal to the sum of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In the event Tenant terminates this Lease with respect to a Demised Premises Component, Tenant shall be entitled to a pro rata reduction of x) the Monthly Base Rent payable during the sixty-first (based on 61st) through the rentable area sixty-third (63rd) months of the Demised Premises Component)Extended Term, (y) the unamortized portion, as of the Termination Date, of all costs expended by Landlord in connection with the Tenant Improvements, the Tenant Improvement Allowance and any other allowances paid by Landlord in connection with any First Offer Space leased by Tenant, and (z) the unamortized portion, as of the Termination Date, of all leasing commissions paid by Landlord in connection with the Lease, as amended, including any First Offer Space, with the costs set forth in items (y) and (z) above being amortized at an annual interest rate of seven percent (7%) over the initial Extended Term. In Provided that the event Original Tenant terminates the Lease, as amended, pursuant to the terms of a this Section 8, (A) the Lease, as amended, shall automatically terminate and be of no further force or effect, (B) Landlord and Tenant shall be relieved of their respective obligations under the Lease, as amended, as of the Termination Date, except those obligations set forth in the Lease, as amended, which specifically survive the expiration or earlier termination of this Lease with respect to a Demised Premises Componentthe Lease, as amended including, without limitation, the costs payment by Tenant of segregating all amounts owed by Tenant under the Demised Premises Component Lease, as amended, up to and including the remaining Demised Premises 3 Termination Date, and (C) as of the date of Tenant's delivery of the Termination Notice, Tenant's right lease any first offer space pursuant to Section 6, above, shall be deemed null and void and no further force or effect. The rights contained in this Section 8 shall be personal to the sole responsibility Original Tenant and may only be exercised by the Original Tenant (and not any assignee, sublessee or other transferee of the Original Tenant's interest in the Lease, as amended).

Appears in 1 contract

Sources: Office Building Lease (Ryland Group Inc)

Termination Right. A. Provided that there does Tenant is not then exist an outstanding, uncured monetary or material non-monetary Event in default of Default, at any time after the earlier to occur of (a) the date which is five hundred forty (540) days following the Lease Commencement Date, or (b) April 30, 2014beyond applicable notice and cure periods, Tenant shall have the a one-time right to terminate the Lease, which termination shall be effective upon the last day of the month that is sixty-seven (67) months following the New Space Commencement Date (the “Termination Date”) by providing written notice of same to Landlord no more than fifteen (15) months and not less than twelve (12) months prior to the Termination Date, failing which Tenant’s termination right set forth in this Lease paragraph shall be deemed waived. Furthermore, Tenant’s termination right set forth herein shall be conditioned upon sixty Tenant delivering to Landlord, within ten (6010) days prior written notice after delivery of Tenant’s termination notice, a termination fee equal to Landlordthe Total Leasing Costs (defined below). In addition, at any time and from time to time during the Term, Tenant shall have the right to terminate this Lease with respect to any Demised Premises Component (hereinafter defined) upon thirty (30) days prior written notice to Landlord with respect to such Demised Premises Component. As used herein, the term Demised Premises ComponentTotal Leasing Costs” shall mean any of the following portions of the Demised Premisesmean: (i) two (2) months’ of the data roomtotal Rent due under the Lease as of the date of Tenant’s termination notice, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); plus (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted unamortized balance of the New Allowance (defined in the Work Letter) calculated on Exhibit E-2 attached hereto a straight-line basis amortized at eight percent (the “Control Center”8%), plus (iii) the network operations centerunamortized balance (on a straight line basis over the New Term) seventy-five percent (75%) of the Abated Rent, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and plus (iv) up the unamortized balance (on a straight-line basis over the New Term) all brokerage commissions in connection with the Lease and this Amendment. Tenant’s failure to 20,000 contiguous rentable square feet of deliver the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In the event Tenant terminates this Lease with respect foregoing termination fee to a Demised Premises Component, Tenant Landlord within said 10-day period shall be entitled to deemed a pro rata reduction of the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event of a termination of this Lease with respect to a Demised Premises Component, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility waiver of Tenant’s termination right hereunder. All Rent and other obligations of Tenant and Landlord under the Lease shall continue to be due and payable and/or performed as set forth therein until and through the Termination Date if Tenant exercises the termination right provided in this paragraph.

Appears in 1 contract

Sources: Office Lease Agreement (Arcutis Biotherapeutics, Inc.)

Termination Right. A. Provided that there does not then exist an outstanding, uncured monetary or material non-monetary Event Landlord has received and is currently reviewing the Working Drawings for Tenant's Work as referenced in the Work Letter. Landlord will send written notice to Tenant* either: (I) unconditionally approving the Working Drawings; (ii) rejecting the Working Drawings and notifying Tenant of Default, at any time after the earlier to occur of (a) the date which is five hundred forty (540) days following the Lease Commencement Date, basis for rejection; or (biii) April 30conditionally approving the Working Drawings and noting the items that must be revised pursuant to Landlord's conditional approval. In the event that Landlord conditionally approves the Working Drawings or rejects the Working Drawings, 2014, then Tenant shall have the right five (5) days after receipt of such notice to terminate this Lease upon by delivering written notice to Landlord of termination, If Tenant delivers the termination notice in a timely fashion, then this Lease shall be deemed terminated as of the date Landlord receives Tenant's notice of termination and Tenant will deliver possession of the Premises to Landlord on such date in its then current condition. If Tenant fails to timely give notice of termination.** Tenant will be deemed to have waived its right to terminate under this Article and the Lease shall remain in full force and effect. * By October 22, 1999 ** Within TEN(10) Business days EXHIBIT A LEASED PREMISES [DIAGRAM] EXHIBIT B WORK LETTER ----------- 939 BANNOCK LLC RE: Lease dated as of October 11. 1999, by and between 938 Bannock LLC ("Landlord") and INFLOW, INC. ("Tenant") (the "Lease"), pertaining to those specific Leased Premises more specifically described in the Lease (the "Leased Premises") Ladies and Gentlemen: Concurrently herewith, you, as Tenant, and the undersigned, as Landlord, have executed the referenced Lease, which provisions of said Lease are herein incorporated by reference as if Fully set forth herein. (Initially capitalized terms not otherwise defined have the same meaning as in the Lease.) In consideration of the execution of the Lease, Landlord has agreed to complete certain improvements in the Leased Premises and Tenant and Landlord agree as follows: 1. Landlord, at its sole cost and expense, shall perform landscaping on the south and west sides of the Building pursuant to those specific plans attached hereto as Schedule B-1 (the "Landscaping"). Landlord will use commercially reasonable efforts to complete the Landscaping prior to May 1, 2000. Additionally, Landlord, at its sole cost and expense shall: (i) repaint the exterior of the Building, and (ii) replace the existing awnings on the Building (collectively "Landlord's Work"). Landlord shall perform the Landscaping and Landlord's Work in compliance with all applicable laws, rules, regulations and codes. Landlord shall give notice to Tenant of completion of Landlord's Work (which may be satisfied by delivering the certificate required by Article 2 of the Lease). Landlord shall use reasonable efforts to cause the Landlord's Work to be completed on or before sixty (60) days prior after mutual execution of this Lease (the "Scheduled Completion Date of Landlord's Work"). Upon completion of Landlord's Work and completion of any punch list items listed in a written notice agreement signed by Tenant and Landlord, Landlord shall have no Further obligation for the improvements to the Leased Premises. 2. Tenant will complete improvements in and to the Leased Premises ("Tenant's Work") in accordance with construction documents which shall include all architectural, mechanical, and electrical working drawings to be provided to Landlord (the "Working Drawings"). Tenant shall perform Tenant's Work in compliance with all applicable laws, rules, regulations and codes. Landlord specifically approves Tandem Enterprises, Inc. to serve as Tenant's general contractor for the construction of Tenant's Work pursuant to this Work Letter. Landlord acknowledges that Tenant will be constructing a computer and telecommunications data center. All plans and Working Drawings shall be subject to Landlord's reasonable approval, which approval shall not be unreasonably withheld, and Tenant's Work shall be completed in accordance with Article 7 of the Lease. In addition, at Landlord shall not charge any time and from time to time during the Term, Tenant shall have the right to terminate this Lease supervision fee with respect to any Demised Tenant's Work. Tenant acknowledges that Landlord has disclosed to Tenant that the roof of the Leased Premises Component (hereinafter defined) upon thirty (30) days prior written notice needs repair to ensure it is in a good and working condition and that Tenant, as a part of Tenant's Work, must repair and/or replace the roof in compliance with all applicable laws, rules and regulations. Tenant has disclosed to Landlord its commitment to replace the roof of the Building as a part of Tenant's Work. Landlord will provide Tenant with respect a roof finish allowance in the amount of Ten Thousand Dollars ($10,000) (the "Roof Allowance"). Tenant acknowledges that Landlord has disclosed to such Demised Tenant that the Building requires an access ramp on the east side of the Building pursuant to the requirements of Americans With Disabilities Act of 1990. Tenant, as a part of Tenant's Work, must construct the access ramp in compliance with all applicable laws, rules and regulations. Tenant has disclosed to Landlord its commitment to construct the access ramp as a part of Tenant's Work. Landlord will provide Tenant with a access ramp finish allowance in the amount of Ten Thousand Dollars ($10,000) (the "Access Ramp Allowance"). In addition to the foregoing, Tenant, as a part of Tenant's Work, will demolish all interior non-masonry walls in the Building to allow Tenant to build out the Leased Premises Componentas contemplated herein. As used hereinLandlord will provide Tenant with a demolition allowance in the amount of Eighteen Thousand Six Hundred Forty Dollars ($18,640) (the "Demolition Allowance"). The Roof Allowance, the term “Demised Premises Component” shall mean any Access Ramp Allowance and the Demolition Allowance may hereinafter be collectively referred to as the "Allowance." Landlord will pay the Allowance to Tenant in three payments: 25% of the following portions Allowance will be paid by Landlord upon Tenant's commencement of the Demised Tenant Work within the Premises: ; 25% of the Allowance will be paid upon 50% completion of Tenant's Work (as certified by Tenant's architect); and the balance of the Allowance will be paid upon (i) completion of Tenant's Work and Tenant's occupancy of the data roomPremises, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); (ii) receipt of paid invoices from Tenant evidencing the control center facility applicable construction, along with appropriate lien waivers from Tenant's general contractor and support spaceany subcontractors involved in Tenant's Work, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”)substantially in a form reasonably acceptable to Landlord, and (iii) Tenant's obtaining a certificate of occupancy. 3. Except for the network operations centerAllowance which will be paid as set forth above, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (all costs related to the “Network Operations Center”)Tenant's Work, including, but not limited to, design fees, costs of preparation of the Working Drawings, and (iv) up to 20,000 contiguous rentable square feet costs of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premisesmaterials and construction, other than the Data Room, the Control Center and the Network Operations Center). In the event are considered "Tenant terminates this Lease with respect to a Demised Premises Component, Work Costs." Tenant shall be entitled responsible for the direct payment of all Tenant Work Costs. Tenant agrees to not occupy the Leased Premises prior to the receipt of a pro rata reduction certificate of occupancy. Please sign and return this letter and all accompanying copies of it to Indicate your approval of the Monthly Base Rent (based on the rentable area of the Demised Premises Component). In the event of a termination terms of this Lease with respect to agreement. Very truly yours, Very truly yours, 938 BANNOCK LLC, a Demised Premises ComponentColorado limited liability company ▇▇▇▇▇ ▇▇▇▇▇▇ Realty Inc. as its manager By: /s/ ILLEGIBLE ------------------------------------ Title: President --------------------------------- CONFIRMED AND AGREED: INFLOW, the costs of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of TenantINC., a Delaware corporation By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ --------------------------------- (Printed Name) ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ------------------- (Title) CEO, President -------------------------- ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ [DIAGRAM] EXHIBIT D RULES AND REGULATIONS ---------------------

Appears in 1 contract

Sources: Lease Agreement (Inflow Inc)

Termination Right. A. Provided that there does not then exist an outstanding(A) Subject to the terms of this Section 1.7, uncured monetary or material non-monetary Event of Default, at any time after the earlier to occur of (a) the date which is five hundred forty (540) days following the Lease Commencement Date, or (b) April 30, 2014, Tenant shall have the right to terminate this Lease upon sixty (60) days prior written notice to Landlord. In addition, at any time and from time to time during the Term, Tenant Landlord shall have the right to terminate this Lease with respect to any Demised only the 41st Floor Premises Component (hereinafter definedas such term is defined in that certain Amendment of Lease, dated as of December ___, 2018 (the “Amendment”) upon thirty between Landlord and Tenant) effective April 30, 2023 (30such date being referred to herein as “Landlord’s Termination Date” only in the event that the tenant under the lease, between Landlord and ▇▇▇▇▇ and ▇▇▇▇▇▇▇ (as of the date of the Amendment) days prior written notice shall lease the 41st Floor Premises pursuant to the option set forth in such lease or otherwise). Landlord shall have the right to terminate this Lease, with respect to such Demised the 41st Floor Premises Componentonly, as provided in this Section 1.7 effective as of Landlord’s Termination Date only by giving notice thereof to Tenant not later than May 1, 2022. As used hereinIf Landlord exercises Landlord’s right to terminate this Lease, with respect to the term “Demised 41st Floor Premises Component” only, as of Landlord’s Termination Date as provided in this Section 1.7, then Tenant, on Landlord’s Termination Date, shall mean any vacate the 41st Floor Premises and surrender the 41st Floor Premises to Landlord in accordance with the terms of this Lease that govern Tenant’s obligations upon the expiration or earlier termination of the following portions Term. (B) Subject to the terms of the Demised Premises: (i) the data roomthis Section 1.7, containing approximately 7,895 rentable square feet depicted on Exhibit E-1 attached hereto (the “Data Room”); (ii) the control center facility and support space, containing approximately 46,493 rentable square feet depicted on Exhibit E-2 attached hereto (the “Control Center”), (iii) the network operations center, containing approximately 10,994 rentable square feet depicted on Exhibit E-3 attached hereto (the “Network Operations Center”), and (iv) up to 20,000 contiguous rentable square feet of the office portion of the Demised Premises (i.e. the remaining area of the Demised Premises, other than the Data Room, the Control Center and the Network Operations Center). In in the event Tenant terminates that Landlord shall terminate this Lease with respect to a Demised the 41st Floor Premises Componentin accordance with Section 1.7(A) hereof, Tenant shall have the right to terminate this Lease during the Term effective as of Landlord’s Termination Date. Tenant shall have the right to terminate this Lease as provided in this Section 1.7(B) effective as of Landlord’s Termination Date only by giving notice thereof to Landlord not later than May 15, 2022 (as to which date time shall be entitled to a pro rata reduction of the Monthly Base Rent (based essence). Tenant’s termination right shall be ineffective if, on Landlord’s Termination Date or on the rentable area date of Tenant’s notice, Tenant is not the Demised Person that executed and delivered this Lease initially or an Event of Default has occurred and is continuing. If Tenant exercises Tenant’s right to terminate this Lease as of Landlord’s Termination Date as provided in this Section 1.7, then Tenant, on Landlord’s Termination Date, shall vacate the Premises Component). In and surrender the event of a termination Premises to Landlord in accordance with the terms of this Lease with respect to a Demised Premises Component, that govern Tenant’s obligations upon the costs expiration or earlier termination of segregating the Demised Premises Component and the remaining Demised Premises shall be the sole responsibility of TenantTerm.

Appears in 1 contract

Sources: Lease (UiPath, Inc.)