Upon Landlord s approval of the final form of the drawings, plans and specifications, which shall constitute the Construction Documents, Tenant shall prepare an analysis of the cost of constructing the Leasehold Improvements according to the Construction Documents (the "Final Cost") and submit such analysis to Landlord for its approval. Within five (5) business days from the date the Final Cost has been submitted ("Cost Approval Period") Landlord shall approve or disapprove the Final Cost, which shall not be unreasonably withheld or delayed. If Landlord does not approve the Final Cost, it shall promptly notify Tenant; in which case Tenant and Landlord shall use their best efforts to amend the Construction Documents in a manner satisfactory to each. If they are unable to do so within five (5) days after Landlord notifies Tenant as provided in the preceding sentence, either party may terminate the Lease by delivering written notice to the other. Tenant acknowledges that Landlord's sole monetary obligation is to pay the costs attributable to the construction of the Leasehold Improvements, up to an aggregate maximum limit of $2.68 per rentable square foot of Tenant's Additional Premises (the "Allowance"), and Tenant shall pay all other costs of the construction of the Leasehold' Improvements ("Tenant's Share"). In addition, all costs attributable to changes and variations from the Construction Documents in excess of the Final Cost (including, without limitation, any fees and expenses of the Consultants and any increased costs of construction) shall be paid by Tenant.
Upon Landlord s receipt of Tenant's RF Approval of a candidate, Landlord shall submit to Tenant, within ninety (90) days of RF approval, the following: (i) a completed SLA executed by Landlord; (ii) ground lease or other instrument (which may include an option agreement, provided that the term of such option is of sufficient duration to permit Landlord to exercise such option in a timely fashion, and provided further that Landlord exercises such option prior to the commencement of construction) evidencing Landlord's real estate interest in the potential Site and Landlord's right and ability to grant Tenant rights therein, together with a certification from the Landlord that such real estate interest conforms to the requirements set forth in the Global Lease (and upon Tenant's request, copies of any related documentation); (iii) title report, commitment, opinion or abstract; (iv) site survey; (v) Phase I environmental report; (vi) FAA analysis prepared by Landlord; (vii) a detailed description of the proposed tower structure, identifying any differences between the tower height proposed by Landlord and that specified by Tenant as meeting Tenant's requirements; (viii) zoning synopsis (which shall include, without limitation, Landlord's assessment of its ability to obtain all necessary approvals for the facilities described in the SLA within the time periods specified herein); and (ix) the date by which Landlord expects to substantially complete the Site (the earlier of the date: (a) specified in the SLA Package; or (b) which is within ninety (90) days of the issuance of a final, non-appealable building permit for the Site, herein the "Committed Completion Date")( the items specified in clauses (i) through (ix) collectively, the "SLA Package"). Tenant shall notify Landlord within ten (10) days of Tenant's receipt of the SLA Package whether the SLA Package is acceptable to Tenant. Tenant shall indicate its acceptance of the SLA Package by executing and dating the SLA and forwarding same to Landlord. Failure of Tenant to timely provide Landlord with an executed SLA shall be deemed a termination by Tenant pursuant to Section 3.6 and Tenant shall be obligated to pay the fees set forth on Exhibit C. In the event that Landlord indicates in the SLA Package that it may require a time period beyond one hundred eighty (180) days to obtain the required building permit, Tenant shall have the right to request that Landlord engage in discussions and negotiations to reduce the indicated ...
Upon Landlord s receipt of an Offer, Landlord shall give Tenant written notice of such Offer, which notice, in order to be effective, shall include the name and address of the Offeror. The notice shall also include a true and correct copy of the Offer under which Landlord would sell the Leased Premises to the Offeror, which Offer must be acceptable to Landlord, subject only to compliance with the right of first refusal created herein.
Upon Landlord s verification that Subtenant has a net worth in excess of Ten Million Dollars ($10,000,000.00) or Landlord has received a written and fully executed sublease guaranty by an entity that Landlord has verified to have a net worth in excess of Ten Million Dollars ($10,000,000.00) and no default exists under the lease or sublease, Landlord will refunded to the Subtenant (Leaders Online) the Fifteen Thousand Dollars ($15,000.00) deposit.
Upon Landlord s receipt of any notice in the nature of a notice of default with respect to any obligation of Landlord secured by any lien upon the Premises, Landlord shall immediately deliver a copy of such notice to Tenant and to the Project Lender. If and whenever Tenant or the Project Lender shall deem it necessary or appropriate to do so in order to protect its respective rights under this Lease, it may, at its option, pay and discharge any mortgage or other lien attached to the Premises or any portion thereof, and in such event it shall be subrogated to all the rights of the mortgagee, beneficiary, owner or holder of such mortgage or other lien.
Upon Landlord s delivery of the Offer Notice and Offer Terms, Tenant shall have ten (10) business days (“Tenant’s Response Period”) in which to advise Landlord, in writing, (the “Offer Response”) whether or not Tenant desires to exercise its Right of First Offer and acquire fee simple title to the entire Property on all of the Offer Terms.
Upon Landlord s approval of the 2nd and 3rd Floor Working Drawings, Landlord shall be authorized to cause the Contractor to proceed with the construction of the Tenant Improvements in accordance with the 2nd and 3rd Floor Working Drawings.
Upon Landlord s receipt of Tenant's Renewal Notice in accordance with the requirements of this paragraph, the Lease, subject to the provisions of this paragraph, shall be automatically extended for the Renewal Term with the same force and effect as if the Renewal Term had been originally included in the term of the Lease, except that (A) the Yearly Fixed Rent under the Lease shall be equal to of the Market Fixed Rent (as hereinafter defined) as determined in this paragraph and (B) Tenant's so-called "base years" applicable to the determination of Tenant's Proportionate Share of taxes pursuant to Section 6.2 and operating expenses pursuant to Section 6.3 shall be adjusted as follows: the base years shall be the fiscal year in which the Renewal Term commences for taxes and calendar year in which the Renewal Term commences for operating expenses. There shall be no rent concessions or obligation of Landlord to perform or pay for any work during the Renewal Term.
Upon Landlord s receipt of the first payment of Basic Rent hereunder on or after the Commencement Date, Landlord shall pay leasing commissions to Xxxxxx X. Xxxxxxx, Inc. and Xxxxxxx Realty & Management Co., Inc., each in accordance with a separate written agreement between Landlord and such broker, the terms of which are incorporated by reference herein.
Upon Landlord s approval of the Working Drawings, Tenant shall cause application to be made to the appropriate governmental or quasi-governmental authorities for necessary approvals and building permits.
