R&D Space definition

R&D Space means space that has been improved for research, development, engineering, evaluation and testing activities and that, without reconfiguration, cannot be used for standard office use, all as determined by Landlord in its reasonable discretion based upon market conditions generally existing at the time. Conversion Allowance shall be an amount, calculated upon termination of the Lease, equal to the greater of (i) Five Dollars ($5.00) multiplied by the total square feet of Converted Office Space or (ii) Thirty Dollars ($30), minus the product of $2.50 multiplied by the number of full Lease Years expired at the termination of the Lease, multiplied by the total square feet of Converted Office Space. By way of example, if the Lease is terminated in the 7th Lease Year and the Converted Office Space is 10,000 square feet, then the Conversion Allowance would be $150,000 or ($30 - (2.5 × 6)) × 10,000=$150,000 which is greater than ($5 × 10,000)=$50,000.
View Source

Examples of R&D Space in a sentence

  • The addition of the R&D Space to the Premises shall not affect Tenant’s Share of Operating Expenses.

  • The lease of the R&D Space shall be on a strictly “AS IS” basis and Tenant shall be responsible, at its sole cost and expense, for complying with any and all Applicable Requirements in connection with its use of the R&D Space.

  • The Term of the Lease with respect to the R&D Space commenced on November 1, 2007 and shall be co-terminous with the Term of the Lease with respect to the Existing Premises, subject to Section 7(b) below.

  • Notwithstanding anything in Paragraph 11 of the Lease to the contrary, Tenant shall be permitted [...***...]* square feet of R&D Space in the Expansion Space.

  • Upon delivery of the applicable Phase of the Additional Office Space, the Lease shall be modified to provide that the “Premises” consists of approximately 247,576 square feet (the combined 8,310 SF Increment, the Current Premises, Additional Office Space and the R&D Space [as defined below] shall hereinafter be referred to as the “Premises”).

  • Prior to the Early R&D Termination Date, Tenant shall, at Tenant’s sole cost and expense, restore the R&D Space to the same condition as the remainder of the parking lot as to grading, drainage, asphalt and striping (the “R&D Restoration Work”).

  • Each of Landlord and Tenant hereby waives any claims against the other for delays in connection with the delivery of the First Increment (the combined December 17 Increment and the Remaining Increment), the 8,310 SF Increment, the Second Increment, the Expansion Premises, and the R&D Space.

  • Notwithstanding anything in the Lease to the contrary, the addition of the 8,310 SF Increment, the Additional Office Space and the R&D Space shall not increase the Security Deposit or the amount of the Letter of Credit required under the Lease.

  • Alterations that would cause the aggregate R&D Space within the Premises to exceed the foregoing limitation.

  • The Umbrella R&D Space Act Agreement establishes a framework for cooperative activities between the Parties, which may include the sharing of expertise and/or the sharing of facilities (including testing, equipment and related services), The Parties are Google Planning RSAAFinal 03]407 SAA2 - 402086 actively.