Common use of Delivery; Acceptance of Premises; Commencement Date Clause in Contracts

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 3 contracts

Samples: Lease Agreement (Kala Pharmaceuticals, Inc.), Lease Agreement (Kala Pharmaceuticals, Inc.), Lease Agreement (Kala Pharmaceuticals, Inc.)

AutoNDA by SimpleDocs

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Tl Substantially Completed so that Tenant can occupy the Premises for the Permitted Use (“Delivery” or “Deliver”)) and with all base building mechanical, electrical and plumbing systems in good operating condition and repair, free and clear of all tenants and occupants. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Tl Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. “Force Majeure” shall have the meaning set forth in Section 34. If Tenant does not elect to void terminate this Lease within 10 5 business days of the lapse of such 45 120-day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 3 contracts

Samples: Lease Agreement (Sigilon Therapeutics, Inc.), Lease Agreement (Sigilon Therapeutics, Inc.), Lease Agreement (Foghorn Therapeutics Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays Delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “If neither Landlord nor Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything As provided herein, “Landlord’s Work” shall mean the following work, which shall be completed at Landlord’s cost and expense: (i) remove the lab bench located in the northwestern portion of the Premises, and (ii) provide nitrogen piping, drops and hook-ups for Tenant supplied nitrogen to the contrary contained hereinPremises in locations mutually acceptable to Landlord and Tenant. The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant. Upon request of Landlord, if Tenant does not terminate shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and the Extension Term which Tenant may elect pursuant to Section 39 hereof. Except as otherwise set forth in this Lease: (i) Tenant shall accept the immediately preceding sentencePremises in their condition as of the Commencement Date, Base Rent subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Base Rent and Operating Expenses. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 3 contracts

Samples: Lease Agreement, Lease Agreement (Twist Bioscience Corp), Lease Agreement (Twist Bioscience Corp)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant DelaysTenants’ Work,” and “Substantially CompletedForce Majeure Delays” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein; provided, however, that if Tenant Landlord does not terminate this Lease pursuant to Deliver the immediately preceding sentence, Base Rent shall be abated 1 day Premises within 150 days of the Target Commencement Date for each day after such 45 day period (as extended by any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, in which case subsections (a) that and (b) of this paragraph shall apply. If Tenant does not elected to void this Lease within 10 business days of the Premises are not Delivered lapse of such 150 day period, such right to Tenantvoid this Lease shall be waived and this Lease shall remain in full force and effect.

Appears in 3 contracts

Samples: Lease Agreement (Avidity Biosciences, Inc.), Lease Agreement (Avidity Biosciences, Inc.), Lease Agreement (Avidity Biosciences, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Date in the Tenant Improvement Work Substantially Completed Readiness Condition for construction by Tenant of the Tenant Improvements (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant DelaysImprovements” and “Substantially CompletedTenant Improvement Work Readiness Condition” shall have the meanings set forth for such terms in the work letter at here to as Exhibit C (the “Work Letter”). If neither Landlord nor Tenant does not elect elects to void this Lease within 10 business days of the lapse of such 45 120 day periodperiod (as may be extended by Force Majeure delays), such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything the foregoing, Landlord and Tenant agree that if any Governmental Authority having jurisdiction of the Project, as a result of the COVID-19 outbreak in the United States declares or implements any order or mandate that restricts construction activities in San Diego county (any such order or mandate, a “Government Mandate”), then, to the contrary contained hereinextent such Government Mandate precludes construction of the Core & Shell (as defined in the Work Letter), if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent Target Commencement Date shall be abated delayed 1 day for each day that such a Government Mandate remains in effect and continues to preclude such construction of the Core & Shell. 3115 Xxxxxxxxxx/Erasca - Page 3 The “Commencement Date” shall be date that Landlord Delivers the Premises to Tenant in Tenant Improvement Work Readiness Condition. The “Rent Commencement Date” shall be the date that is 180 days after the Commencement Date (which is anticipated to be February 1, 2022, based on the Target Commencement Date of August 1, 2021); provided, however, that the Rent Commencement Date shall be delayed 1 day for each day after the Commencement Date that a Government Mandate that restricts construction activities in San Diego county is in effect to the extent that such 45 day period Government Mandate precludes such construction of the Tenant Improvements. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. Except as set forth in the Work Letter: (i) Tenant shall accept the Premises in their condition as extended by Force Majeure delays of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant Delays) accepts the Premises and that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. Notwithstanding the foregoing, for the period of 365 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to Building Systems (as defined in Section 13), serving the Premises unless Tenant or any Tenant Party was responsible for the cause of such repair or Tenant was responsible for the construction of such Building Systems as part of the Tenant Improvements, in which case Tenant shall pay the cost. In addition, Tenant shall be entitled to the benefit of any warranties issued to Landlord in connection with the Core & Shell for the terms of such warranties to the extent affecting the Premises. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 3 contracts

Samples: Lease Agreement (Erasca, Inc.), Lease Agreement (Erasca, Inc.), Lease Agreement (Erasca, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with LandlordXxxxxxxx’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days following the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, then Tenant shall be entitled to a day for day abatement of Base Rent for each day that the delay in delivery continues from and including the 60th day after the Target Commencement Date (as such Target Commencement Date is extended for Force Majeure delays and Tenant Delays) through the earlier of Delivery or the 120th day after the Target Commencement Date (as such Target Commencement Date is extended for Force Majeure delays and Tenant Delays). If Landlord does not Deliver the Premises within 120 days following the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, then Tenant shall be entitled to an abatement of Base Rent for two days for each day that the delay in delivery continues for the period from the 120th day after the Target Commencement Date (as such Target Commencement Date is extended for Force Majeure delays and Tenant Delays) until the earlier of Delivery or the 195th day after the Target Commencement Date (as such Targe Commencement Date is extended for Force Majeure delays and Tenant Delays). If Landlord does not Deliver the Premises within 195 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, then this Lease may be terminated by Tenant by written notice (given no later than 10 business days after the expiration of the 195 day period (as so extended)) to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), and any prepaid Base Rent shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 195-day period, such right to void this Lease shall be waived Building 1 (AOTC) / Kymera Therapeutics, Inc. - Page 5 Exhibit 10.13 and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained hereinherein and for the avoidance of any doubt, if the termination rights provided for in this paragraph shall terminate on the Commencement Date. The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant; (ii) the date Landlord could have Delivered the Premises but for Tenant does not terminate Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof. Upon request of Landlord, Xxxxxx shall execute and deliver a written acknowledgment of the Commencement Date, the Base Rent Commencement Date, and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Xxxxxx’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease, and (if timely and properly exercised) the Extension Term that Tenant may elect pursuant to Section 40 hereof. Subject to the immediately preceding sentenceprovisions of Section 6 of the Work Letter, Landlord shall permit Tenant access to the Premises at such times set forth in Section 6 of the Work Letter prior to the Commencement Date for Tenant’s installation and setup of furniture, fixtures and equipment (“FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord, and Tenant complies with this Lease and all other reasonable restrictions and conditions Landlord may impose. All such access shall be during normal business hours. Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent or Operating Expenses (as defined in Section 5). Except as set forth in the next paragraph, Section 13 hereof, or the Work Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Xxxxxx accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Base Rent and Operating Expenses. For the period of twelve months after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost of such repair. Xxxxxx agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein. Landlord in executing this Lease does so in reliance upon Xxxxxx’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 2 contracts

Samples: Lease Agreement (Kymera Therapeutics, Inc.), Lease Agreement (Kymera Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises to Tenant by the date that is 30 days after the Target Commencement Date (as such date may be extended by Force Majeure delays and Tenant Delays, the “Abatement Date”), then Landlord shall provide Tenant with a credit equal to 1 day’s Base Rent for each day after the Abatement Date that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything ; provided that Tenant will have a second right to the contrary contained herein, if Tenant does not terminate this Lease pursuant to in the immediately preceding sentence, Base Rent shall be abated 1 day event Landlord has still not Delivered the Premises within 120 days of the Target Commencement Date for each day after such 45 day period (as extended by any reason other than Force Majeure delays and Tenant Delays, which right will be exercisable for a period of 5 business days after such 120 day period. The “Commencement Date” shall be the earlier of: (i) the date Landlord Delivers the Premises to Tenant; or (ii) the date Landlord could have Delivered the Premises but for Tenant Delays. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. In addition to Landlord’s Work, Landlord shall, at Landlord’s sole cost and expense, perform the following work outside the Premises: (i) renovation of the existing Project courtyard, (ii) installation of new glazing on the courtyard side of the Building, which may be performed in phases as existing leases in the Building expire, (iii) construction of a new “pass through” lobby providing access from the parking lot to the Project courtyard, (iv) construction of Common Area restrooms in the Building, (v) construction of a Common Area conference room in the Building, (vi) improvements to the parking lot serving the Building required to comply with applicable Legal Requirements as of the Commencement Date in accordance with Section 7, and (vii) the removal of any unused equipment and pads, as reasonably determined by Landlord, from the Common Areas (collectively, the “Common Area Improvements”). The design and construction of the Common Area Improvements shall be performed pursuant to plans and specifications determined by Landlord, in its sole and absolute discretion, provided that the quality of the Common Area Improvements shall be consistent with or better than the quality of the existing improvements and Tenant shall have no right to request any changes to Landlord’s plans and specifications for the Common Area Net Multi-Tenant Laboratory 3985 Sorrento Valley/Metacrine - Page 3 Improvements. Landlord shall endeavor to complete the Common Area Improvements (other than those listed in subsection (iii) above which shall be completed in phases as existing leases at the Project expire) within 60 days after the Commencement Date. Landlord shall use reasonable efforts to minimize interference with Tenant’s operations in the Premises in connection with the Common Area Improvements performed after the Commencement Date. Except as set forth in the Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the date that Landlord Delivers the Premises to Tenant; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Base Rent and Operating Expenses. For the period of 30 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined in Section 13) serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant agrees and acknowledges that, except as otherwise expressly set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein.

Appears in 2 contracts

Samples: Lease Agreement (Metacrine, Inc.), Lease Agreement (Metacrine, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Tl Substantially Completed so that Tenant can occupy the Premises for the Permitted Use (“Delivery” or “Deliver”)) and with (x) all base Building mechanical, electrical and plumbing systems in good operating condition and repair, and (y) free and clear of all tenants and occupants. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant (i) on or before December 1, 2018 (as such date may be extended for Tenant Delays and Force Majeure delays) (“Initial Abatement Date”), Base Rent shall be abated 1 day for each day after the Initial Abatement Date (as such date may be extended for Tenant Delays and Force Majeure delays) that Landlord fails to Deliver the Premises to Tenant, and (ii) on or before the date that is January 1, 2019 (as such date may be extended for Tenant Delays and Force Majeure delays) (“Second Abatement Date”), Base Rent shall be abated 2 days for each day after the Second Abatement Date (as such date may be extended for Tenant Delays and Force Majeure delays) that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date (the “Outside Date”) for any reason other than delays due to Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under ***Confidential Treatment Requested*** ***Text Omitted and Filed Separately with the provisions of this Lease), shall be returned to Tenant, Securities and (bExchange Commission Confidential Treatment Requested Under 17 C.F.R. Sections 200.80(b)(4) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.240.24b-2

Appears in 2 contracts

Samples: Lease Agreement (Rubius Therapeutics, Inc.), Lease Agreement (Rubius Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Work, if any, Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than Force Majeure delays and Delays, Tenant Delays, and Existing Tenant Delay (all as defined below), this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms (i) “Landlord’s Work,means the work of constructing the improvements to the Premises described on Exhibit C, which shall be performed by Landlord at its sole cost and expense, (ii) “Force Majeure Delays” means delays arising by reason of any Force Majeure (as defined in Section 34), (iii) “Tenant Delays” means (A) Tenant’s request for changes to Landlord’s Work, regardless of whether any such changes are performed, (B) construction of any such changes, (C) Tenant’s request for materials, finishes, or installations requiring unusually long lead times that were not originally included as a part of Landlord’s Work, (D) Tenant’s delay (which shall mean more than 5 business days) in reviewing, revising, or approving any plans and specifications relating to Landlord’s Work, (E) Tenant’s delay in providing information critical to the normal progression of the Project (Tenant shall provide such information as soon as reasonably possible, but in no event longer than 5 business days after receipt of any request for such information from Landlord), and (F) any other act or omission by Tenant or any Tenant Party (as defined herein), or persons employed by any of such persons, (iv) “Substantially Completed” means the substantial completion of Landlord’s Work (A) in a good and workmanlike manner, (B) in accordance with the requirements described in Exhibit C, and (C) in accordance with all applicable Legal Requirements (including, but not limited to, securing the applicable final building inspection for Landlord’s Work), subject only to normal “punch list” items, and (v) “Existing Tenant Delay” means the refusal or failure by the Existing Tenant (as defined below) to surrender the Premises by July 1, 2010 in accordance with the terms and conditions of the Existing Lease (as defined below). Landlord will promptly perform such punch list items. Tenant shall have obtain, at its sole cost and expense, any applicable use and occupancy permit for the meanings set forth for such terms in Premises issued by the Work Letterapplicable Governmental Authority. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything If neither Landlord nor Tenant elects to the contrary contained herein, if Tenant does not terminate void this Lease pursuant within 5 business days of the lapse of such 60 day period, such right to the immediately preceding sentence, Base Rent void this Lease shall be abated 1 day for each day after such 45 day period waived and this Lease shall remain in full force and effect. Sequoia Pharmaceuticals, Inc. (as extended by Force Majeure delays and Tenant Delays) that “Existing Tenant”), is currently leasing the Premises are not Delivered from Landlord, and the lease agreement (“Existing Lease”) between Landlord and Existing Tenant is scheduled to Tenantexpire on July 1, 2010 subject to Landlord’s right to advance the expiration date. Tenant understands, acknowledges, and agrees that Landlord makes no guaranty, representation, or assurance that Landlord will be able to recapture the Premises from the Existing Tenant by July 1, 2010 and that Landlord shall have no obligation or duty to seek the vacation or removal of the Existing Tenant from the Premises.

Appears in 2 contracts

Samples: Lease Agreement (Glycomimetics Inc), Lease Agreement (Glycomimetics Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 2 contracts

Samples: Lease Agreement (Twist Bioscience Corp), Lease Agreement (Twist Bioscience Corp)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Rent Commencement Date, with Landlord’s Work Substantially Completed Date ("Delivery" or "Deliver"). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Rent Commencement Date for any reason other than Force Majeure delays Delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenant: either (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. Landlord shall use reasonable efforts to Substantially Complete Landlord's Work within 90 days after the Rent Commencement Date (subject to Force Majeure Delays and Tenant Delays), and Tenant shall cooperate with Landlord during Landlord's performance of the Landlord's Work. As used herein, (i) "Landlord's Work" means the terms “Landlord’s Work,” “work to be performed by Landlord at its sole cost and expense described on Exhibit C, (ii) "Force Majeure Delays" means delays arising by reason of any Force Majeure (as defined in Section 34), (iii) "Tenant Delays" means (A) Tenant's request for changes to Landlord's Work, regardless of whether any such changes are performed, (B) construction of any such changes, (C) Tenant's request for materials, finishes or installations requiring unusually long lead times, (D) Tenant's delay in reviewing, revising, or approving any plans and specifications relating to Landlord's Work, (E) Tenant's delay in providing information critical to the normal progression of the Project (Tenant shall provide such information as soon as reasonably possible, but in no event longer than one week after receipt of any request for such information from Landlord), and (F) any other act or omission by Tenant or any Tenant Party, or persons employed by any of such persons, and (iv) "Substantially Completed” shall have " means the meanings set forth substantial completion of Landlord's Work (A) in a good and workmanlike manner, (B) in accordance with the requirements described in Exhibit C, and (C) in accordance with all applicable Legal Requirements (including, but not limited to, obtaining the applicable building final permit for Landlord's Work), subject only to normal "punch list" items. Landlord will promptly complete such terms in the Work Letterpunch list items. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 2 contracts

Samples: Lease Agreement (Opgen Inc), Lease Agreement (Opgen Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed and in broom clean condition (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding the foregoing, if Landlord has not Delivered the Premises to Tenant on or before the date that is 60 days after the Target Commencement Date (as may be extended by Force Majeure delays and Tenant Delays), then Tenant shall receive a day-for-day abatement of the monthly Base Rent first coming due under this Lease for every 1 full day that Landlord has not delivered possession of the Premises to Tenant beyond such 60-day period. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 2 contracts

Samples: Lease Agreement (Heat Biologics, Inc.), Lease Agreement (Heat Biologics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than delays due to Force Majeure delays and or Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other (except that Landlord shall have no right to terminate this Lease other than in the event of Force Majeure or Tenant Delays), and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), ) and any Rent paid prior to the date of such termination (except any Rent paid for any time period that Tenant occupied the Premises and conducted its business therein) shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant; (ii) the date Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. Global Blood Therapeutics, Inc., a Delaware corporation (“GBT”), an affiliate of Tenant, is the tenant under that certain Lease Agreement between Landlord and GBT dated as of even date herewith (“GBT Lease”), pursuant to which Landlord leases to GBT and GBT leases from Landlord the balance of the first floor of the Building, as described in the GBT Lease (“GBT Premises”). Tenant acknowledges that GBT may have access to the contrary contained herein, if Tenant does not terminate this Lease pursuant to Premises during the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays Term and Tenant Delays) that may have access the GBT Premises during the Term. Tenant further acknowledges and agrees that, except for what may be constructed as part of the Tenant Improvements, Landlord has no obligation to construct any improvements to separate the Premises are from the GBT Premises. Tenant shall not Delivered enter onto the GBT Premises without express permission from GBT and shall not take any action or fail to Tenant.take any action which would interfere with GBT’s use of the GBT Premises. Landlord shall have no liability for any Claims suffered by Tenant in connection with any entry by GBT into the Premises. If the GBT Lease is terminated at any time during the Term of this Lease, (i) Landlord agrees that Tenant shall have the right along with any new tenant(s) in the GBT Premises to use the Shared Area shown on Exhibit G,

Appears in 2 contracts

Samples: Lease Agreement (Global Blood Therapeutics, Inc.), Lease Agreement (Global Blood Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant; (ii) the contrary contained hereindate Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof. Upon request of Landlord, if Tenant does not terminate shall execute and deliver a written acknowledgment of the Commencement Date, and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and the Extension Term which Tenant may elect pursuant to Section 39 hereof. Except as set forth in this Lease or the immediately preceding sentenceWork Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, Base Rent subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 2 contracts

Samples: Lease Agreement (CytomX Therapeutics, Inc.), Lease Agreement (CytomX Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, in broom clean condition, free of all occupants and their property, with Landlord’s Work 's Work, if any, Substantially Completed (“Delivery” "DELIVERY" or “Deliver”"DELIVER"). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If the Landlord does not Deliver the Premises by December 31, 2001 (as the same shall be extended for Force Majeure Delays and/or Tenant Delays), then for each day beyond December 31, 2001 (as the same may be extended) that Delivery is so delayed, Tenant shall receive one day of free Base Rent equal to the daily Base Rent which would have accrued for each particular day after December 31, 2001 (as the same may be extended) until the Premises are Delivered. If Landlord is unable to Deliver the Premises within 45 120 days of the Target Commencement Date for any by reason other than of Force Majeure delays and Delays and/or Tenant Delays, this Lease may be terminated by Tenant Landlord by written notice to LandlordTenant, and if so terminated by Tenantterminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. If Landlord is unable to Deliver the Premises within 150 days of the Target Commencement Date by any reason other than Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work"LANDLORD'S WORK,” “Tenant Delays” " "TENANTS' WORK," "FORCE MAJEURE DELAYS," "TENANT DELAYS" and “Substantially Completed” "SUBSTANTIALLY COMPLETED" shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 2 contracts

Samples: Lease Agreement (Acusphere Inc), Lease Agreement (Acusphere Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”) (i) the first floor of the Premises (the “First Floor Premises”) to Tenant on or before the First Floor Target Delivery Date (as defined below), and (ii) the second floor of the Premises (the “Second Floor Premises”) to Tenant on or before the Second Floor Target Delivery Date (as defined below). Upon Delivery to Tenant of the First Floor Premises (the date on which such Delivery occurs shall be the “First Floor Delivery Date”), Landlord’s Work in the First Floor Premises shall be Substantially Completed and the parking structure serving the Project in the location shown on Exhibit B will be substantially complete and available for Tenant’s use. Upon Delivery to Tenant of the Second Floor Premises (the date on which such Delivery occurs shall be the “Second Floor Delivery Date”), Landlord’s Work in the Second Floor Premises shall be Substantially Completed. As of the date hereof, Landlord’s Work in the First Floor Premises is scheduled to be Substantially Completed on or before January 31, 2017 (the “First Floor Target Delivery Date”) and Landlord’s Work in the Second Floor Premises is scheduled to be Substantially Completed on or before March 17, 2017 (the “Second Floor Target Delivery Date”). If Landlord fails to timely Deliver the First Floor Premises or the Second Floor Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the First Floor Premises within 45 270 days of the First Floor Target Commencement Delivery Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease Deliver the Second Floor Premises within 10 business 270 days of the lapse of such 45 day periodSecond Floor Target Delivery Date, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.either and/or both cases for

Appears in 2 contracts

Samples: Lease Agreement (Gossamer Bio, Inc.), Lease Agreement (Gossamer Bio, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver exclusive possession of the Premises to Tenant free and clear of all existing third party tenancies and occupancies on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 30 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to TenantTenant (which obligation shall survive termination), and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which that expressly survive termination of this Lease. As used herein, the terms Force Majeure Delays” means delays arising by reason of any Force Majeure (as defined in Section 34), but expressly excludes Landlord’s Work,” inability or refusal to terminate the lease (Tenant Delays” and Existing Lease”) of the existing third party tenant of the Premises (Substantially Completed” shall have the meanings set forth for such terms in the Work LetterExisting Tenant”). If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 30 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to effect and the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent tables in Sections 3(a) and 4(a) shall be abated 1 day for each day after such 45 day period (as extended correspondingly adjusted by Force Majeure delays and Tenant Delays) that the Premises are not Delivered an amendment to Tenantthis Lease.

Appears in 2 contracts

Samples: Lease Agreement (Arbutus Biopharma Corp), Lease Agreement (Arbutus Biopharma Corp)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Work, if any, Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant; (ii) the contrary contained hereindate Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease, and the Extension Term, if any, which Tenant does not terminate this Lease may elect pursuant to Section 40 hereof. Except as set forth in the immediately preceding sentenceWork Letter or as otherwise set forth in this Lease, Base Rent if applicable: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, except the obligation to pay Base Rent. Tenant agrees and acknowledges that, except as otherwise set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 2 contracts

Samples: Lease Agreement (Fate Therapeutics Inc), Lease Agreement (Fate Therapeutics Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work in the Premises Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings meaning set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 2 contracts

Samples: Lease Agreement (Zentalis Pharmaceuticals, Inc.), Lease Agreement (Zentalis Pharmaceuticals, LLC)

Delivery; Acceptance of Premises; Commencement Date. (a) Landlord shall use reasonable efforts and Tenant acknowledge that (i) Tenant is in the process of raising its Series A round of equity financing, (ii) in order for Landlord to deliver commence Landlord’s Work under the Premises Work Letter attached hereto as Exhibit F (the “Work Letter”) as soon as possible, Landlord and Tenant are executing this Lease prior to the Tenant’s receipt of such financing, and (iii) following execution of this Lease Landlord will expend its funds in performing Landlord’s Work. If Tenant does not close on equity financing in an amount at least equal to $4,000,000 (the “Equity Financing”) on or before March 1, 2010, Landlord shall have the Target Commencement Date, with right to suspend Landlord’s Work Substantially Completed (“Delivery” or “Deliver”)under the Work Letter. For purposes of this paragraph, Tenant shall be deemed to have closed on the date that the net proceeds of such Equity Financing are received by Tenant. Any such suspension of Landlord’s Work shall constitute a Tenant Delay under the Work Letter. If Landlord fails to timely Deliver the PremisesEquity Financing has not closed on or before June 1, 2010, Landlord shall have the right, whether or not be liable Landlord has exercised its right to Tenant for any loss or damage resulting therefromsuspend Landlord’s Work, to terminate this Lease on 60 days’ notice to Tenant, and notwithstanding anything to the contrary contained in this Lease Lease, upon the delivery of such notice of termination Landlord shall not be void or voidable except have an indefeasible right to the “Termination Fee” (as provided hereindefined below) as liquidated damages on account of such termination. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delayselect to so terminate this Lease under this Section 2(a), this Lease may be terminated shall remain in full force and effect. Upon such termination by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms The Landlord’s Work,” “Tenant Delays” and “Substantially CompletedTermination Fee” shall have be equal to the meanings set forth for such terms first month’s Base Rent paid by Tenant upon execution of this Lease and the full amount of the Security Deposit. Tenant hereby authorizes and consents to the draw by Landlord under the Letter of Credit in the Work Letter. If Tenant does not elect to void this Lease within 10 business days full amount of the lapse Security Deposit in the event of such 45 day periodtermination, and the provisions of this paragraph shall survive such right termination. Tenant acknowledges and agrees that in the event of such termination, (x) Landlord is entitled to void this Lease shall be waived draw under the Letter of Credit in the full amount of the Security Deposit, and this Lease shall remain in full force and effect. Notwithstanding anything (y) Landlord may certify to the contrary contained hereinissuing bank that Landlord is entitled to draw under the Letter of Credit. Tenant shall cooperate with Landlord in connection with such draw request(s) to such issuing bank or banks, if Tenant does not terminate this Lease pursuant to the immediately preceding sentenceincluding without limitation providing such certificates, Base Rent shall affidavits and other documents as may be abated 1 day for each day after requested by such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenantissuing bank or banks.

Appears in 2 contracts

Samples: License Agreement (Eleven Biotherapeutics, Inc.), License Agreement (Eleven Biotherapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises (“Delivery” or “Deliver”) to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, to the extent actually delivered to Landlord by Tenant, or any balance balance, thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), and any Base Rent prepaid by Tenant shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. Except as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their “as-is” condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Base Rent and Operating Expenses. Notwithstanding anything to the contrary contained hereinin this Lease, if Tenant does and Landlord acknowledge and agree that the effectiveness of this Lease shall be subject to the following condition precedent (“Condition Precedent”) having been satisfied: Landlord shall have entered into a lease termination agreement (“Termination Agreement”) on or before March 15, 2017, with the existing tenant of the Premises which Termination Agreement shall be on terms and conditions acceptable to Landlord, in Landlord’s sole and absolute discretion. In the event that the Condition Precedent is not satisfied, Landlord and Tenant shall each have the right to terminate this Lease pursuant upon delivery of written notice to the immediately preceding sentenceother party. Landlord shall have no liability whatsoever to Tenant relating to or arising from Landlord’s inability or failure to cause the Condition Precedent to be satisfied; provided, however if this Lease terminates as a result of the failure of the Condition Precedent to be satisfied, Landlord shall return to Tenant any Base Rent shall be abated 1 day prepaid by Tenant. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for each day after such 45 day period (as extended by Force Majeure delays the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 2 contracts

Samples: Lease Agreement (Vir Biotechnology, Inc.), Lease Agreement (Vir Biotechnology, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed substantially completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver substantially complete Landlord’s Work on or before the PremisesTarget Commencement Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than Force Majeure delays and or Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “If neither Landlord nor Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything As used herein, “Landlord’s Work” shall mean the following work to be completed by Landlord, at Landlord’s cost and expense, (i) touch up or re-paint, as Landlord’s reasonable discretion, the walls in the shared lobby and the restroom areas, (ii) repair or replace, at Landlord’s reasonable discretion, the flooring in the shared lobby and the restroom areas, and (iii) install a locking door to the contrary contained herein, if Tenant does not terminate this Lease pursuant to hallway accessing the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that restroom from the Premises are (but not Delivered to Tenanta security system).

Appears in 2 contracts

Samples: Lease Agreement (BioCardia, Inc.), Lease Agreement (BioCardia, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant by the date that is 90 days after the Target Commencement Date (as such date may be extended for delays caused by Tenant or Force Majeure (as defined in Section 34) delays, the “Abatement Date”), then, commencing on the first day immediately following the expiration of the Subsequent Abatement Period (as defined below), Base Rent shall be abated on a day-for-day basis for each day after the Abatement Date that Landlord failed to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 180 days of the Target Commencement Date for any reason other than delays caused by Tenant or Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenantterminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 180 day period, period (as extended by Force Majeure delays and delays caused by Tenant) such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 2 contracts

Samples: Lease Agreement (CARGO Therapeutics, Inc.), Lease Agreement (CARGO Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than delays due to Force Majeure delays and or Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other (except that Landlord shall have no right to terminate this Lease other than in the event of Force Majeure or Tenant Delays), and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), ) and any Rent paid prior to the date of such termination (except any Rent paid for any time period that Tenant occupied the Premises and conducted its business therein) shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant; (ii) the date Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. MyoKardia, Inc., a Delaware corporation (“MyoKardia”), an affiliate of Tenant, is the tenant under that certain Lease Agreement between Landlord and MyoKardia dated as of even date herewith (“MyoKardia Lease”), pursuant to which Landlord leases to MyoKardia and MyoKardia leases from Landlord the balance of the first floor of the Building, as described in the MyoKardia Lease (“MyoKardia Premises”). Tenant acknowledges that MyoKardia may have access to the contrary contained hereinPremises during the Term and Tenant may have access the MyoKardia Premises during the Term. Tenant further acknowledges and agrees that, except for what may be constructed as part of the Tenant Improvements, Landlord has no obligation to construct any improvements to separate the Premises from the MyoKardia Premises. Tenant shall not enter onto the MyoKardia Premises without express permission from MyoKardia and shall not take any action or fail to take any action which would interfere with MyoKardia’s use of the MyoKardia Premises. Landlord shall have no liability for any Claims suffered by Tenant in connection with any entry by MyoKardia into the Premises. Except as set forth in the Work Letter, if applicable: (i) Tenant does not terminate this Lease pursuant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the immediately preceding sentence, Base Rent Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein.

Appears in 2 contracts

Samples: Lease Agreement (Global Blood Therapeutics, Inc.), Lease Agreement (Global Blood Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Date in the Tenant Improvement Work Substantially Completed Readiness Condition for construction by Tenant of the Tenant Improvements (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 180 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” Landlord Delays”, “Tenant Delays”, “Tenant Improvement Work Readiness Condition” and “Substantially CompletedTenant’s Improvements” shall have the meanings meaning set forth for such terms term in the Work Letter. If Tenant does not elect to void terminate this Lease within 10 5 business days of the lapse of such 45 180 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained hereinherein and for the avoidance of any doubt, if Tenant does not the termination rights provided for in the preceding paragraph shall terminate this Lease pursuant to on the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to TenantCommencement Date.

Appears in 2 contracts

Samples: Lease Agreement (Cue Health Inc.), Lease Agreement (Cue Health Inc.)

Delivery; Acceptance of Premises; Commencement Date. The “Commencement Date” shall be the earlier to occur of (i) August 1, 2016, or (ii) the day after the termination of the Novartis Lease (as defined below), if the Novartis Lease terminates prior to August 1, 2016. The “Rent Commencement Date” shall be the date that is 3 months after the Commencement Date. The time period commencing on the Commencement Date through the day immediately preceding the Rent Commencement Date may be referred to herein as the “Abatement Period.” Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the Rent Commencement Date when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. Landlord shall use reasonable efforts to deliver and Tenant acknowledge and agree that, as of the date hereof, the Premises is currently subject to that certain Lease Agreement between Landlord and Novartis Institute for Functional Genomics, Inc., a Delaware corporation (doing business as “The Genomics Institute of the Novartis Research Foundation”) (“Novartis”), dated as of August 8, 2011 (as the same has been and may in the future may be amended, the “Novartis Lease”). Tenant agrees that, other than as specifically set forth in the Work Letter (and, for the avoidance of doubt, Landlord has no obligations under the Work Letter until the Conditions Precedent have been satisfied), Landlord has no obligations under this Lease prior to the Commencement Date. Prior to the Commencement Date, Tenant will lease the Premises pursuant to a Sublease Agreement between Novartis and Tenant (the “Novartis Sublease”). Landlord and Tenant agree that if the Novartis Lease terminates prior to August 1, 2016, then, notwithstanding anything to the contrary contained in this Lease, the Commencement Date shall be amended to be the day immediately after the date of such early termination of the Novartis Lease (“Early Commencement Date”); provided, however, that Tenant shall, commencing on the Early Commencement Date through July 31, 2016, be required to pay (a) monthly Base Rent in the amount set forth on Page 1 of this Lease, and (b) Tenant’s Share of Operating Expenses pursuant to the terms of this Net Laboratory 3530 Xxxx Xxxxxxx/Conkwest - Page 3 Lease. Notwithstanding the foregoing, if the early termination of the Novartis Lease was due to a casualty or condemnation, then such casualty or condemnation shall be deemed to have occurred during the Base Term of this Lease and the rights and obligations of Landlord and Tenant with respect to this Lease shall be governed by Section 18 and Section 19 of this Lease, as applicable. For the avoidance of doubt, the expiration date of this Lease shall remain July 31, 2023, following the Early Commencement Date. Notwithstanding anything to the contrary contained in this Lease, Tenant and Landlord acknowledge and agree that the effectiveness of this Lease shall be subject to the following conditions precedent (“Conditions Precedent”) having been satisfied: (i) Tenant and Novartis entering, on or before July 31, 2015, into the Target Commencement DateNovartis Sublease, with (ii) the execution by Tenant, Novartis and Landlord’s Work Substantially Completed , on or before July 31, 2015, of a consent to sublease reasonably acceptable to Landlord, (“Delivery” iii) Landlord and Novartis having entered, on or “Deliver”). If before July 31, 2015, into an amendment of the Novartis Lease, providing for the early termination of the Novartis Lease, which amendment shall be on terms and conditions acceptable to Landlord fails and Novartis, each in their sole and absolute discretion, and (iv) the tenant which currently leases that certain building at the Project commonly known as 0000 Xxxx Xxxxxxx Court waiving, on or before June 29, 2015, any and all rights it has under its lease agreement to timely Deliver lease the Premises. In the event that any of the Conditions Precedent have not been satisfied, Landlord and Tenant shall not be liable have the right to Tenant for any loss or damage resulting therefrom, and terminate this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days upon delivery of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlordthe other party, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof prepaid Base Rent (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), ) shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease. Upon satisfaction of the Conditions Precedent, except with respect Landlord shall promptly provide to provisions which expressly survive termination of this Lease. As used herein, Tenant written notice that the terms “Landlord’s Work,” “Conditions Precedent have been satisfied and Landlord and Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such no further right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to this paragraph. Landlord and Tenant shall have no liability whatsoever to the immediately preceding sentence, Base Rent other party relating to or arising from such party’s inability or failure to cause the Conditions Precedent to be satisfied. Except as set forth in the Work Letter: (i) Landlord shall have no obligation for any defects in the Premises; and (ii) Tenant’s occupancy of the Premises pursuant to the terms of the Novartis Sublease shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises are in good condition as of the Commencement Date. Tenant agrees and acknowledges that, except as otherwise expressly set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 2 contracts

Samples: Lease Agreement (NantKwest, Inc.), Lease Agreement (Conkwest, Inc.)

Delivery; Acceptance of Premises; Commencement Date. The “Commencement Date” shall be the date Landlord acquires fee title to the Project. Landlord shall use reasonable efforts deliver the Project to Tenant on the Commencement Date. The “Rent Commencement Date” shall be the later of (a) the date that is 6 months after the Commencement Date, or (b) January 1, 2021. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date, the OPEX Commencement Date (as defined in Section 3(b)) and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Terms which Tenant may elect pursuant to Section 39 hereof. Except as set forth in the Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any access to or occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. Notwithstanding anything to the contrary contained in this Lease, Tenant and Landlord acknowledge and agree that as of the date of this Lease, Landlord does not own the Project and that the effectiveness of this Lease and the delivery of the Premises to Tenant on or before is conditioned upon Landlord acquiring fee title the Target Commencement Date, with Landlord’s Work Substantially Completed Project pursuant to the existing purchase and sale agreement (as the same may be amended) between Landlord and the current owner of the Project (“Delivery” or “DeliverCondition Precedent”). If Neither Landlord fails nor Tenant shall have any liability whatsoever to timely Deliver the Premises, Landlord shall not be liable each other relating to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void arising from Landlord’s inability or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date failure for any reason other than Force Majeure delays and Tenant Delaysto cause the Condition Precedent to be satisfied. If the Condition Precedent is not satisfied by August 31, 2020, then this Lease may be terminated by Landlord or Tenant by delivery of written notice to Landlordthe other delivered on or before September 15, and if so terminated by Tenant: (a) 2020. If this Lease terminates pursuant to the Security Depositimmediately preceding sentence, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease. Following the Commencement Date, except Landlord shall perform certain work with respect to provisions the core and shell of the Building and certain site work pursuant to the scope of work attached hereto as Exhibit G, which expressly survive termination scope of this Lease. As used herein, the terms work has been agreed to by Landlord and Tenant (“Landlord’s Work,” “”). Landlord shall cause Landlord’s Work to be performed in a good and workmanlike manner and in accordance with applicable Legal Requirements. Landlord shall consult with Tenant Delays” and “Substantially Completed” shall have with respect to elements of Landlord’s Work which are discretionary in nature (such as the meanings set forth color the Building is being painted). Landlord may make changes to the scope of Landlord’s Work reflected on Exhibit G upon notice to Tenant so long as such changes will not result in (w) a material increase in TI Costs, (x) a material, adverse effect on Tenant’s schedule for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days substantial completion of the lapse Tenant Improvements, (y) increase the cost of such 45 day periodLandlord’s Work above the amount of Landlord’s Contribution, such right to void this Lease shall be waived and this Lease shall remain in full force and effector (z) any element of Landlord’s Work being removed from the scope of Landlord’s Work. Notwithstanding anything Any changes to the contrary contained herein, if Tenant does not terminate this Lease pursuant to scope of Landlord’s Work reflected on Exhibit G that would result in any of the circumstances listed in subsections (w) through (y) of the immediately preceding sentencesentence would require Tenant’s prior approval, which shall not be unreasonably withheld, conditioned or delayed, and any changes that would result in any element of Landlord’s Work being removed from the scope of Landlord’s Work as contemplated in subsection (z) of the immediately preceding sentence would require Tenant’s prior approval, which may be granted or withheld in Tenant’s sole discretion. Tenant waives all claims for Rent Abatement in connection with Landlord’s Work. All costs incurred by Landlord in connection with Landlord’s Work including, without limitation, all hard and soft design, engineering, permitting and construction costs, and an administrative fee payable to Landlord in the amount of 1% of the “hard” costs of Landlord’s Work, shall be included in the calculation of the cost of Landlord’s Work. Landlord shall be responsible for the cost of Landlord’s Work up to $25.00 per rentable square foot of the Premises (“Landlord Contribution”). Landlord shall make determinations with respect to the budget for Landlord’s Work and any changes thereto in a commercially reasonable manner. Tenant acknowledges that Landlord shall continue to require access to portions of the Project (including the Building interior) following the Commencement Date in order to complete Landlord’s Work while Tenant is performing the Tenant Improvements. Commencing on the Commencement Date, Landlord and Tenant shall work together in a cooperative manner, and shall likewise require each of their respective contractors to work together in a cooperative manner, to coordinate the remaining Landlord’s Work and the Tenant Improvements and to achieve the substantial completion of all such work in as prompt and efficient manner as reasonably practicable. Landlord shall use reasonable efforts to complete Landlord’s Work by the Rent Commencement Date. If Landlord fails to complete Landlord’s Work prior to the Rent Commencement Date and Tenant’s operations in the Premises are adversely affected due to such failure, then, commencing on the Rent Commencement Date, Tenant shall receive 1 day of abatement of Base Rent shall be abated 1 day for each day after such 45 day period (following the Rent Commencement Date that Landlord fails to substantially complete Landlord’s Work. Tenant agrees and acknowledges that, except as extended by Force Majeure delays expressly set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 2 contracts

Samples: Lease Agreement (Cue Health Inc.), Lease Agreement (Cue Health Inc.)

Delivery; Acceptance of Premises; Commencement Date. So long as Tenant has delivered evidence of the insurance required hereby and by the Work Letter, Landlord shall use reasonable efforts to deliver make the Premises available to Tenant for the construction of the Tenant’s Work (defined below) on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 30 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms term LandlordTenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings meaning set forth for such terms term in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 30 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 2 contracts

Samples: Lease Agreement (Adaptive Insights Inc), Lease Agreement (Adaptive Insights Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work TI Substantially Completed so that Tenant can occupy the Premises for the Permitted Use (“Delivery” or “Deliver”)) and with all base building mechanical, electrical and plumbing systems in good operating condition and repair, free and clear of all tenants and occupants. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “TI Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. “Force Majeure” shall have the meaning set forth in Section 34. If Tenant does not elect to void terminate this Lease within 10 5 business days of the lapse of such 45 120-day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 2 contracts

Samples: License Agreement (Sigilon Therapeutics, Inc.), License Agreement (Sigilon Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver make the Premises available to Tenant on or before the Target Commencement Date, with LandlordDate and Tenant’s Work Substantially Completed delivery of evidence of the insurance required hereby (“Delivery” or “Deliver”). Tenant shall have 60 days after Landlord’s Delivery of the Premises to Tenant reasonably to identify any material defects related to the major Building Systems (as defined in Section 13) serving the Premises, and Landlord will promptly repair such identified defects. On or before Landlord’s Delivery of the Premises to Tenant, Landlord shall perform all necessary work to cause the Building and Common Areas and all points of ingress/egress to be in compliance with all applicable Legal Requirements, including ADA (as such phrases are defined in Section 7). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms Landlord’s Work,” “Tenant Force Majeure Delays” and “Substantially Completed” shall have the meanings set forth for such terms means delays arising by reason of any Force Majeure (as defined in the Work LetterSection 34). If Tenant does not elect to void this Lease within 10 business 30 days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything ; provided, however, that if Landlord Delivers the Premises within such 30 day period and before Tenant elects to the contrary contained hereinvoid this Lease, if Tenant does not terminate such right to void this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays waived and Tenant Delays) that the Premises are not Delivered to Tenantthis Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Lease Agreement (Bioveris Corp)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed and in broom clean condition (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays (provided that such date may not be extended more than 60 additional days as a result of Force Majeure delays) and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), and any prepaid Base Rent actually delivered by Tenant shall be returned to Tenant shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Mirati Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts shall, subject to deliver Force Majeure delays, make the Premises available to Tenant on or before the Target Commencement Date, with Landlordfor Tenant’s Work Substantially Completed under the Work Letter (“Delivery” or “Deliver”) upon the full execution and delivery of this Lease (collectively, the “Delivery Conditions”). Upon Delivery of the Premises to Tenant, the Premises shall be in water tight condition, except for any leaks in connection with Landlord’s Work relating to the installation of the new roof as reflected on Exhibit H. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date mutual execution and delivery of this Lease by the parties for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms term LandlordTenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings meaning set forth for such terms term in the Work Letter. If Tenant does not elect to void terminate this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Tandem Diabetes Care Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to the Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void terminate this Lease within 10 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Arcturus Therapeutics Ltd.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s the Tenant Improvements under the Work Letter attached hereto as Exhibit F (the “Work Letter”) Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely so Deliver the PremisesPremises on or before the Target Commencement Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than delays due to Force Majeure delays and or Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other (except that Landlord shall have no right to terminate this Lease other than in the event of Force Majeure or Tenant Delays), and if so terminated by Tenanteither: (a) any Rent paid prior to the date of such termination (except any Rent paid for any time period that Tenant occupied the Premises and conducted its business therein) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Tenant Improvements,” “Tenants’ Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60 day periodperiod pursuant to this Section 2, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: License Agreement (Blueprint Medicines Corp)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant with the improvements described on or before the Target Commencement Date, with Landlord’s Work Substantially Completed space plans and scope of work set forth on Exhibit C attached hereto (the “Improvements”) substantially completed (“Delivery” or “Deliver”)) on or before the Target Commencement Date. Landlord shall cause the Improvements to be completed in a good and workmanlike manner substantially in accordance with the space plans and scope of work attached hereto as Exhibit C. The space plans and scope of work attached hereto as Exhibit C have been mutually agreed upon by Landlord and Xxxxxx and Tenant shall have no right to request any changes thereto. If Landlord fails to timely Deliver the PremisesPremises by the Target Commencement Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant within 60 days after the Target Commencement Date (as such date may be extended by Force Majeure delays and Supply Chain Delays, the “Abatement Date”), Base Rent payable with respect to the Premises shall be abated 1 day for each day after the Abatement Date that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure (as defined in Section 34) delays and Tenant Supply Chain Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenantterminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant. The “Rent Commencement Date” shall be the contrary contained hereindate that is 120 days after the Commencement Date. For greater certainty, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, no Base Rent shall be abated 1 day payable until the Rent Commencement Date. Upon request of Landlord, Xxxxxx shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Xxxxxx’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. Landlord and Tenant acknowledge and agree that (i) as of the date of this Lease there exist significant global supply chain delays and shortages of construction materials, supplies and equipment (collectively, “Supply Chain Delays”), (ii) the availability of fixtures, equipment and/or materials required for each day the performance and/or substantial completion of the Improvements (collectively, “Required Net Multi-Tenant Office/Laboratory 0000 Xxx Xxxx – Xxxxx 000/enGene - Page 3 Materials”), may be subject to longer lead times than normally anticipated due to such Supply Chain Delays, (iii) the unavailability or delayed delivery of Required Materials may result in disruption to progress of the construction of the Improvements in the ordinary course, and (iv) the Target Commencement Date, the Commencement Date and the Rent Commencement Date shall be delayed for a period equal to the delay in the substantial completion of the Improvements resulting directly or indirectly from the unavailability or delayed delivery of Required Materials. Landlord shall use commercially reasonable and diligent efforts to obtain the Required Materials. Landlord shall use commercially reasonable efforts to mitigate the impacts of such Supply Chain Delays; provided, however, that Landlord shall not be required to incur any additional cost or expense in connection with such mitigation. Except as otherwise expressly set forth in this Lease, including subject to the following paragraph,: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Xxxxxx accepts the Premises. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Base Rent and Operating Expenses. Notwithstanding the foregoing, within 5 days following the Commencement Date, Tenant shall reach out to Landlord to coordinate a date mutually agreed upon by the parties when Landlord and Tenant shall conduct a walk-through and inspection of the Premises for the purpose of generating a “Punch List” reasonably acceptable to Landlord and Tenant, which Punch List shall identify in reasonable detail the items required to be completed by Landlord (“Punch List Items”). Landlord shall be responsible for completing, or causing to be completed, all Punch List Items reflected on the Punch List, at Xxxxxxxx’s sole cost and expense. As set forth in Section 5(a) below and in the Work Letter, Tenant shall not be responsible for the cost of repairing hidden or latent defects in the Building or construction defects. For the period of 30 consecutive days after such 45 day period the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as extended by Force Majeure delays defined in Section 13) serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant shall be entitled to receive the benefit of all construction warranties and manufacturer’s equipment warranties relating to equipment installed in the Premises. At Landlord’s option, Landlord shall either (a) be responsible for enforcing such warranties, or (b) assign the right to enforce such warranties to Tenant. Tenant agrees and acknowledges that, except as expressly set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or modify the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant Delays) waives any implied or legal warranty that the Premises or the Project are suitable for the Permitted Use as of the date hereof or at any other moment during the Term. Without limiting the generality of the foregoing, Tenant hereby expressly waives the benefit of any warranty which Landlord may be bound by under Article 1858 of the Civil Code of Québec. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein. Landlord in executing this Lease does so in reliance upon Xxxxxx’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (enGene Holdings Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target The “Commencement Date” shall be the earlier to occur of (i) April 1, with 2020, or (ii) if the Existing Lease (as defined below) terminates prior to March 31, 2020, the day immediately following the date that the Existing Lease terminates. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s Work Substantially Completed (rights hereunder. The DeliveryTermor “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived and the Base Term, as defined above on the first page of this Lease shall remain in full force and effectthe Extension Term which Tenant may elect pursuant to Section 40 hereof. Notwithstanding anything Landlord and Tenant acknowledge that Tenant occupied the Premises prior to the contrary contained herein, if Tenant does not terminate this Lease Commencement Date pursuant to that certain sub-sublease agreement between Iconic Therapeutics, Inc. (“Iconic”), and Tenant (as the immediately preceding sentencesame has been or may in the future be amended, Base Rent the “Iconic Sub- Sublease”). The Iconic Sublease is subject to the existing lease between Landlord and the existing tenant of the Premises dated as of September 14, 2010 (as the same has been and may in the future be amended, the “Existing Lease”). Except as set forth in the Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Base Rent and Operating Expenses. For the period of 90 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined in Section 13) serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Ultragenyx Pharmaceutical Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed and in vacant, broom clean condition (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant within 90 days after the Target Commencement Date (as such date may be extended by Force Majeure (as defined in Section 34) and Tenant Delays, the “Abatement Date”), Base Rent shall be abated 1 day for each day after the Abatement Date that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease)) and any prepaid Base Rent, shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” ”, “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 120 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding the foregoing, Landlord and Tenant agree that if any Governmental Authority having jurisdiction of the Project, as a result of the COVID-19 outbreak in the United States declares or implements any order or mandate that restricts construction activities in San Mateo County (any such order or mandate, a “Government Mandate”), then, to the extent such Government Mandate precludes construction of Landlord’s Work, the Target Commencement Date shall be delayed 1 day for each day that such a Government Mandate remains in effect and continues to preclude such construction of Landlord’s Work. The “Commencement Date” shall be the earlier of: (i) the date Landlord Delivers the Premises to Tenant; and (ii) the date Landlord could have Delivered the Premises but for Tenant Delays. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Terms which Tenant may elect pursuant to Section 40 hereof. Except as set forth in the Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. Notwithstanding anything to the contrary contained herein, if Tenant does for the period of 60 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not terminate this Lease pursuant constitute an Operating Expense), be responsible for any repairs that are required to be made to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period Building Systems (as extended defined in Section 13) serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant shall also be entitled to the benefit of any warranties issued to Landlord in connection with Landlord’s Work. Upon written request from Tenant, Landlord shall deliver to Tenant, subject to Landlord’s standard non-reliance letter, copies of the surrender reports delivered to Landlord by Force Majeure delays the immediately prior tenant of the Premises once such surrender reports have been made available to Landlord. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (DiCE MOLECULES HOLDINGS, LLC)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”)) for Tenant’s construction of the Tenant Improvements pursuant to the Work Letter in Tenant Improvement Work Readiness Condition on or before the Target Commencement Date. If Landlord fails to timely Deliver the PremisesPremises on or before the Target Commencement Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant on or before October 1, 2020 (as such date may be extended for Force Majeure delays and delays caused by Tenant, the “Abatement Date”), then, commencing on the Rent Commencement Date, Base Rent payable with respect to the Premises shall be abated 1 day for each day from and including the Abatement Date (as such date may be amended for Force Majeure delays and delays caused by Tenant) that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date by May 1, 2021, for any reason other than Force Majeure delays and Tenant Delaysor delays caused by Tenant, this Lease may be terminated by Tenant by providing written notice to Landlord, and if so terminated by TenantTenant in accordance with this paragraph the Lease: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease, if any), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant DelaysImprovements” and “Substantially CompletedTenant Improvement Work Readiness Condition” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void terminate this Lease within 10 business days of the lapse of such 45 day periodby May 6, 2021, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding For the avoidance of doubt, notwithstanding anything to the contrary contained herein, if Tenant does not terminate in this Lease (including, without limitation, Section 34), any delays in Landlord’s Delivery of the Premises to Tenant arising from or related to the replacement of the Fairview Avenue Bridge by the Seattle Department of Transportation shall constitute a Force Majeure delay. The “Commencement Date” shall be the date that Landlord Delivers the Premises to Tenant. The “Rent Commencement Date” shall be the date that is 10 months after the Commencement Date. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not limited or otherwise affect Landlord’s rights or obligations hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Terms which Tenant may elect pursuant to Section 40 hereof. Except as set forth in the immediately preceding sentence, Base Rent Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays Net Laboratory 1165 Eastlake/Adaptive - Page 3 conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent or Operating Expenses. For the period of 270 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant shall also be entitled to the benefit of any warranties issued to Landlord in connection with Landlord’s Work (as defined in the Work Letter). Tenant agrees and acknowledges that, except as otherwise expressly set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Adaptive Biotechnologies Corp)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date ("Delivery" or "Deliver"). If if Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant DelaysDelays or the failure of the existing tenant, Massachusetts Biomedical Institute, Inc. ("MBI"), to vacate the Premises, this Lease may shall be terminated voidable by Landlord or Tenant by written notice to Landlordthe other, and if so terminated voided by Tenanteither: (a) so long as Tenant is not in default hereunder, the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), Deposit shall be returned to Tenant, and (b) } neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “If neither Landlord nor Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The "COMMENCEMENT DATE" shall be the date Landlord Delivers the Premises to Tenant. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the contrary contained hereinCommencement Date and the expiration date of the Term when such are established in the form attached to this Lease as Exhibit D; PROVIDED, HOWEVER, Tenant's failure to execute and deliver such acknowledgment shall not affect Landlord's rights hereunder. The "Term" of this Lease shall be the Base Term and the Extension Term which Tenant may elect pursuant to Section 40 hereof. Except as set forth in the Work Letter, if applicable: (i) Tenant does not terminate this Lease pursuant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable laws, ordinances, regulations, covenants and restrictions; (ii) Landlord shall have no obligation for any defects in the immediately preceding sentence, Base Rent Premises; and (ii) Tenant's taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease. Tenant acknowledges and agrees that Tenant's use and occupancy of the Premises may be severely and adversely impacted by Landlord's Work and Tenant shall not be entitled and waives any claim to any abatement of rent or any other concession as a result of any such adverse impact. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of any or all of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant's business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease including all exhibits hereto constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered contained herein. Landlord in executing this Lease does so in reliance upon Tenant's representations, warranties, acknowledgments and agreements contained herein. Tenant hereby acknowledges and agrees that the Premises is currently subject to Tenanta lease with MBI ("EXISTING LEASE") and that a portion of the Premises may be subject to the prior rights of other tenants of the Project. This Lease and Landlord's obligations hereunder shall be subject to (i) the release or expiration of any prior rights of any other tenant of the Project pursuant to such tenant's lease in and to any portion of the Premises, and (ii) Landlord's receipt of a fully executed termination agreement with respect to the Existing Lease and the vacation of the Premises by MBI.

Appears in 1 contract

Samples: Lease Agreement (Viacell Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the contrary contained hereinCommencement Date, if Tenant does not terminate and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease, and the Extension Term which Tenant may elect pursuant to Section 39 hereof. Except as otherwise set forth in this Lease: (i) Tenant shall accept the immediately preceding sentencePremises in their condition as of the Commencement Date, Base Rent subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. For the period of 30 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Seres Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver to Tenant the Premises to in Tenant on or before the Target Commencement Date, with Landlord’s Improvement Work Substantially Completed Readiness Condition (“Delivery” or “Deliver”)) on or before the Target Commencement Date for Tenant’s construction of the Tenant Improvements pursuant to the Work Letter. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant by October 1, 2020 (as such date may be extended for Force Majeure delays (not to exceed 120 days) and delays caused by Tenant, the “Abatement Date”), then Base Rent payable with respect to the Premises shall be abated 1 day for each day from and including the Abatement Date that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 150 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays(not to exceed 120 days), this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant DelaysImprovements” and “Substantially CompletedTenant Improvement Work Readiness Condition” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 150 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. 731887685.7 The “Commencement Date” shall be the date that Landlord Delivers the Premises to Tenant for Tenant’s construction of the Tenant Improvements pursuant to the Work Letter. The “Rent Commencement Date” shall be the earlier to occur of (i) the date that is 9 months after the Commencement Date; provided, however, that if the Tenant Improvements have not been Substantially Completed (as defined in the Work Letter) by the date that is 9 months after the Commencement Date solely due to delays in the Shell Substantial Completion (as defined in the Work Letter), the Rent Commencement Date shall be extended 1 day for each day that Substantial Completion of the Tenant Improvements was delayed solely due to such delays in the Shell Substantial Completion, or (ii) the date that the Tenant Improvements are Substantially Completed; provided, however, that to the extent that Shell Substantial Completion has not been achieved by the date that the Tenant Improvements are Substantially Completed, the Rent Commencement Date shall be extended 1 day for each day that Shell Substantial Completion has not been achieved. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and the Extension Term which Tenant may elect pursuant to Section 40 hereof. Except as set forth in the Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. Notwithstanding anything to the contrary contained herein, if Tenant does for the period of 90 consecutive days after the Rent Commencement Date, Landlord shall, at its sole cost and expense (which shall not terminate this Lease pursuant constitute an Operating Expense), be responsible for any repairs that are required to be made to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period Building Systems (as extended by Force Majeure delays defined in Section 13) serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (ChemoCentryx, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with LandlordXxxxxxxx’s Work Substantially Completed substantially completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided hereinvoidable. If The “Commencement Date” shall be the date Landlord does not Deliver Delivers the Premises within 45 to Tenant. Notwithstanding the foregoing, in no event shall the Commencement Date be earlier than November 1, 2024. Provided that Tenant has delivered a certificate of insurance reflecting the insurance coverage required to be maintained by Tenant under Section 16, Landlord shall permit Tenant access to the Premises for a period of up to 5 days of prior to the Target Commencement Date for any reason other than Force Majeure delays Tenant’s installation and Tenant Delayssetup of furniture, this Lease may be terminated by Tenant by written notice to fixtures and equipment (“FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord, and if so terminated by Tenant: (a) Tenant complies with the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions terms of this Lease)Lease and all other reasonable restrictions and conditions Landlord may impose. The Premises will be delivered to Tenant on the Commencement Date with the fixed and permanent improvements (which, for clarity, excludes the Tenant provided equipment shown) reflected on Exhibit A-1 and shall be returned to Tenantfurnished with the furniture, fixtures and equipment described on Exhibit A-2 (b) neither Landlord nor the “Included FF&E”). For avoidance of doubt, the Included FF&E shall not include the chairs reflected in green on Exhibit A-2, but Tenant shall have any further rights, duties or obligations under this Lease, except with respect the right to provisions which expressly survive termination of this Leasepurchase and install such chairs at its sole cost and expense. As used herein, the terms term “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have mean the meanings set forth for such terms following work which shall be performed by Landlord, at Landlord’s sole cost and expense: (a) those items noted in the Work Lettercallout boxes on Exhibit A-3 attached hereto, and (b) all electrical and mechanical modifications required to support the equipment shown on Exhibit A-3, and per the equipment list provided by Tenant dated November 11, 2023. If Tenant does not elect to void this Lease within 10 business days In connection with Xxxxxx’s occupancy of the lapse Premises, Landlord shall provide suite entry signage and include Tenant’s name on the Building directory. Tenant shall not be responsible for the removal of such 45 day periodsuite entry and Building directory signage at the expiration or earlier termination of this Lease. Upon request of either party, Landlord and Xxxxxx shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such right are established; provided, however, Xxxxxx’s failure to void execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be waived the Base Term, as defined above on the first page of this Lease. Upon Tenant’s request, within 5 business days following the Commencement Date, Landlord and Tenant shall conduct a walk-through inspection of the Premises, at a time and date reasonably acceptable to Landlord and Tenant, to create a punch list reasonably acceptable to Landlord and Tenant with respect to Landlord’s Work. Landlord shall be responsible for completing the items reflected on such punch list and will use reasonable efforts to complete such punch list items within a reasonable period after the Commencement Date. Except as otherwise expressly set forth in this Lease Lease: (i) Tenant shall remain accept the Premises in full force their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and effect. Notwithstanding anything to (iii) except for punch list items agreed upon by Landlord during the contrary contained herein, if Tenant does not terminate this Lease walk-through inspection pursuant to the immediately preceding sentenceprior paragraph, Xxxxxx’s taking possession of the Premises shall be conclusive evidence that Xxxxxx accepts the Premises. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent shall be abated 1 day or Parking Charges. Xxxxxx agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for each day after such 45 day period (as extended by Force Majeure delays the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein. Landlord in executing this Lease does so in reliance upon Xxxxxx’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Rapport Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts be responsible for the design and construction of the Building Shell (as defined in the Work Letter) as set forth in the Work Letter. DGA is the architect (“Building Shell Architect”) for the Building Shell, and the contractors for the Building Shell shall be selected and engaged by Landlord in the exercise of Landlord’s sole and absolute discretion. Any Tenant Delays (as defined below) shall reduce the Outside Date (as defined below) on a day for day basis. Tenant acknowledges that certain plans and other information that may be made available to Tenant pursuant to the provisions of this Section 2 constitute information that Landlord considers confidential and, upon request from Landlord, Tenant shall execute a confidentiality and non-disclosure agreement reasonably acceptable to Landlord and Tenant with respect to such confidential information. Landlord shall deliver the Premises to Tenant for the commencement of the construction of the Tenant Improvements (as defined in the Work Letter) on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Weather-Tight Building Shell Delivery Date (“Delivery” or “Deliver”)) which Landlord shall use reasonable efforts to cause to occur on or before the Target Commencement Date. The “Weather-Tight Building Shell Delivery Date” shall be the date that that Tenant is notified accurately by Landlord or the general contractor for the Building that construction of the Building Shell is at a point where the Building is weather tight and is in a condition acceptable for the commencement of construction of the Tenant Improvements. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom except as expressly provided for below, and this Lease shall not be void or voidable. If Landlord does not Deliver the Premises within 120 days of the Target Commencement Date for any reason other than Force Majeure (as defined in Section 34 below) and Tenant Delays, Tenant shall be entitled, starting on the Rent Commencement Date, to occupy the Premises without the obligation to pay Base Rent, 1 day for each day following the Target Commencement Date (as extended for Force Majeure and Tenant Delays) until the Weather-Tight Building Shell Delivery Date; provided, however, that such free rent period shall be reduced 1 day for every day up to a maximum of 120 days that delays in obtaining the permits for the Pedestrian Bridge delays (as reasonably determined by the Building Shell Architect or Landlord’s contractor) Landlord’s Delivery of the Premises. Notwithstanding any of the foregoing, no Tenant Delay shall be deemed to have occurred under this Lease except to the extent that (a) Tenant’s and/or any Tenant Parties’ action and/or inaction actually contributed to such delay beyond the Target Commencement Date (as reasonably determined by the Building Shell Architect or Landlord’s contractor) and (b) such delay continues for more than one day following Landlord’s written (or email) notice to Tenant of the matter that caused the delay. Net Multi-Tenant Laboratory 259 E. Grand/Onyx - Page 3 On or before the Outside Steel Order Date (as defined below), Landlord shall place the order for the steel for the Building Shell. If Landlord fails to timely place the order for the steel for the Building Shell, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided hereinfor in the immediately following sentence. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date If, for any reason other than Force Majeure delays and Tenant Delaysreason, this Lease may be terminated Landlord fails to place the order for the steel for the Building Shell within 5 business days (as extended by Tenant by written notice Delays and/or delays due to LandlordForce Majeure, and if so terminated by Tenant: the “Outside Steel Order Date”) after the earlier of (a) the Security Depositdate that Tenant’s Termination Right (as defined in Section 41) is waived or deemed waived, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) the date requests in writing to Landlord that Landlord order the steel, Tenant shall have the one time right (“Expansion Termination Right”) to terminate this Lease and if so terminated, then, notwithstanding anything to the contrary contained herein, neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except to one another with respect to provisions which expressly survive termination of this Lease. As used hereinthe Premises except that Landlord shall refund to Tenant the Security Deposit and any amounts paid by Tenant to Landlord pursuant to Section 41(a), the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” except, however that Landlord shall have the meanings set forth for such terms in no obligation to refund any amounts paid by Tenant pursuant to Section 41(a) and under the Work LetterLetter if this Lease terminate as a result of Tenant’s election to terminate pursuant to Section 41(b). If Tenant does not elect fails to void this Lease deliver written notice to Landlord within 10 5 business days day after the Outside Steel Order Date of the lapse of such 45 day period, such right its election to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately provisions of the preceding sentence, Base Rent Tenant shall be abated 1 day deemed to have forever waived its Expansion Termination Right. The parties hereby agree that, if applicable, for each day after such 45 day during the 1.5 month period (as extended by Force Majeure delays and following the expiration of the Outside Steel Order Date until Landlord places the steel order for the Building Shell, Tenant Delays) that shall be entitled, starting on the Rent Commencement Date, to occupy the Premises are without the obligation to pay Base Rent for 1 day. If Tenant exercises the Expansion Termination Right or Landlord places the steel order prior to the expiration of the Outside Steel Order Date, the provisions of the preceding sentence shall not Delivered apply. A delay by Tenant (“Tenant Delay”) shall only be deemed to Tenanthave occurred to the extent such delay (i) actually contributes to delaying (a) Landlord’s placing of Landlord’s steel order for the Building Shell beyond the Outside Steel Order Date, or (b) the design, permitting or construction of the Building Shell to the point where it meets the requirements of the Water Tight Building Shell Delivery Date beyond the Target Commencement Date and (ii) continues for more than one day following Landlord’s written (or email) notice to Tenant of the matter that caused the delay.

Appears in 1 contract

Samples: Lease Agreement (Onyx Pharmaceuticals Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts has contracted to deliver purchase the Premises Property from Neose Technologies, Inc., a Delaware corporation (“Neose”), pursuant to Tenant the terms and conditions of a Purchase and Sale Agreement and Joint Escrow Instructions dated September 1, 2006 (“Landlord/Neose PSA”). Under the Xxxxxxxx/Xxxxx XXX, Xxxxxxxx is to close thereunder and acquire fee title to the Property on or before about the Target Commencement Date. As a result, with LandlordLandlord shall make the Premises available to Tenant for Tenant’s Work Substantially Completed under the Work Letter at such time (if any) that Landlord acquires title to the Property and Tenant’s delivery of evidence of the insurance required hereby and by the Work Letter (“Delivery” or “Deliver”). If Landlord fails or is unable to timely Deliver the PremisesPremises (including a failure or inability of closing to occur under the Landlord/Neose PSA for any reason whatsoever), Landlord shall not be liable to Tenant for any loss or damage whatsoever resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 30 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under Deposit and the provisions of this Lease), first month’s Base Rent shall be returned to TenantTenant in full, and (b) neither Landlord nor Tenant shall have any further rights, duties duties, obligations, or obligations liabilities under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Tenants’ Work,” “Tenant Delays” and “Substantially CompletedForce Majeure Delays” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 30 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the date on which Landlord closes under the Landlord/Neose PSA and acquires fee title to the contrary contained hereinProperty. The “Rent Commencement Date” shall be the date that is 90 days after the Commencement Date. Landlord shall notify Tenant in writing of the Commencement Date and, within 10 business days thereafter, Landlord and Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date, and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above in the Basic Lease Provisions and any Extension Terms that Tenant may elect pursuant to Section 39 hereof. Except as set forth in the Work Letter, if applicable: (i) Tenant does not terminate this Lease pursuant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the immediately preceding sentence, Base Rent Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein. WITHOUT LIMITING THE FOREGOING, LANDLORD MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO THE BUILDING INFRASTRUCTURE, EITHER AS TO ITS MERCHANTABILITY, FITNESS FOR USE, DESIGN, OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO COMPLIANCE WITH LEGAL REQUIREMENTS, AS TO QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, OR AS TO LANDLORD’S TITLE THERETO OR OTHERWISE, IT BEING AGREED THAT TENANT IS TO BEAR ALL SUCH RISKS.

Appears in 1 contract

Samples: Lease Agreement (Auxilium Pharmaceuticals Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver The Term of this Lease for the Premises shall commence on February 1, 2020 (the “Commencement Date”). Tenant is currently in possession of the West Wing Portion of the Premises as a subtenant of Pfizer, Inc. (“Pfizer”) pursuant to a sublease agreement (the “Pfizer Sublease”) currently scheduled to expire on January 30, 2020; provided, however, that Tenant has advised Landlord that the Pfizer Sublease provides that if Tenant and Landlord enter into a direct lease for the Premises, then the sublease expiration date will be extended to January 31, 2020. In addition, Tenant is currently in possession of the East Wing Portion of the Premises pursuant to a Lease Agreement between Landlord and Tenant dated September 30, 2009 (as the same has been and may in the future be amended, the “Existing Lease Agreement”). Concurrently with the mutual execution of this Lease, Landlord and Pfizer are negotiating to enter into an amendment (the “Pfizer Amendment”) to Pfizer’s direct lease with Landlord (the “Pfizer Lease”) pursuant to which the Pfizer Lease will terminate effective as of January 31, 2020. Notwithstanding anything to the contrary contained in this Lease, the effectiveness of this Lease and the obligations of the parties hereunder are conditioned on the full execution of the Pfizer Amendment on or before the Target Commencement Date, with Landlord’s Work Substantially Completed date which is thirty (30) days following the full execution of this Lease by Landlord and Tenant (the Delivery” or “DeliverCondition Precedent”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable provide Tenant with prompt written notice if the Condition Precedent is satisfied. Landlord shall have no liability to Tenant for any loss or damage resulting therefromif the Condition Precedent is not satisfied; provided, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delayshowever, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for in such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void event this Lease shall be waived void and this Lease shall remain in full of no further force and or effect. Notwithstanding anything to the contrary in the Existing Lease Agreement or Consent to Sublease dated September 30, 2009, between Landlord, Pfizer and Tenant relating to the Pfizer Sublease, in no event shall the Pfizer Amendment affect the enforceability of the Existing Lease Agreement as it relates to the West Wing Portion. The Existing Lease Agreement shall continue to govern with respect to the East Wing Portion of the Premises through January 31, 2020. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above, and shall include any Extension Term(s) pursuant to Section 41 below. Notwithstanding anything to the contrary contained in this Section 2, Landlord and Tenant acknowledge and agree that the Term of this Lease may commence with respect to any Must Take Space (as such term is defined in Section 39 below) prior to the Commencement Date subject to the terms of Section 39 below. If any increment of Must Take Space is added to the Premises prior to the Commencement Date, then with respect to such increment of Must Take Space, references in this Lease 455 Mission Bay / Nektar - Page 3 to the Commencement Date shall be deemed to mean the subject Commencement Date of such increment of Must Take Space as more fully set forth in Section 39 below. Except as otherwise set forth below, Tenant shall accept the Premises in their as is condition as of the Commencement Date. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein. For the period of 90 days after the Commencement Date and 90 days after each Must Take Delivery Date, Landlord shall be responsible to perform any repairs that are required to be made to those Building Systems (as defined in Section 13) serving the applicable increment of Premises just delivered to Tenant, and Tenant shall not be required to pay its pro rata share of the cost of such repairs attributable to the applicable increment of the Premises unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. For example, if Landlord is required to perform any repairs to Building Systems serving Space #1 (as defined in Section 39(a)(i) hereof (for which neither Tenant does not terminate this Lease pursuant nor any Tenant Party is responsible) within 90 days after the Space #1 Commencement Date, Tenant would be required to pay Tenant’s Share of Operating Expenses with respect to the immediately cost of such repairs attributable to the original Premises (i.e., 61.33%), but not be required to pay Tenant’s Share of Operating Expenses with respect to the cost of such repairs attributable to Space #1 (i.e., 2.20%). For the avoidance of any doubt, the 90-day period provided for in the preceding sentence, Base Rent sentence applies separately to each increment of the Premises then being delivered so that in no event shall be abated 1 day for each day after such 45 any new 90-day period (or any extension of any then applicable 90 day period) apply to any previously delivered increment of the Premises. Upon Tenant’s request, within 5 business days following the Commencement Date and each Must Take Delivery Date or ROFO Delivery Date, as extended by Force Majeure delays the case may be, Landlord and Tenant Delays) that shall conduct a joint walk-through of the subject increment of the Premises and identify any Building Systems serving only such subject increment of the Premises which are not Delivered in need of repair, and Landlord shall use reasonable efforts to Tenantpromptly repair any items so identified as in need of repair at Landlord’s sole cost and expense, and such costs shall be excluded from Operating Expenses.

Appears in 1 contract

Samples: Lease Agreement (Nektar Therapeutics)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”)) the Premises to Tenant for the construction of the Tenant Improvements in the Premises under the Work Letter in Tenant Improvement Work Readiness Condition on or before the Target Commencement Date. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays caused by Tenant, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” term “Tenant DelaysImprovements” and “Substantially CompletedTenant Improvement Work Readiness Condition” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 120 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Precision Biosciences Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Laxxxxxx’x Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure (as defined in Section 34) delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 90 day periodperiod (as may be extended by Force Majeure delays and Tenant Delays), such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything the foregoing, Landlord and Tenant agree that if any Governmental Authority having jurisdiction of the Project, as a result of the COVID-19 outbreak in the United States declares or implements any order or mandate that restricts construction activities in San Diego county (any such order or mandate, a “Government Mandate”), then, to the contrary contained hereinextent such Government Mandate precludes construction of Landlord’s Work, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent Target Commencement Date shall be abated delayed 1 day for each day after that such 45 day period (as extended by Force Majeure delays a Government Mandate remains in effect and continues to preclude such construction of Landlord’s Work. Landlord and Tenant further acknowledge and agree that (i) as of the date of this Lease, the City of San Diego (the “City”) is routinely taking longer to issue the permits and approvals (collectively, “Permits”) required for the design and construction of Landlord’s Work than the timeframes contemplated by Landlord in the development of the schedule for the completion of Landlord’s Work (the “Standard Issuance Period”), and (ii) to the extent the issuance of any Permits required for the design and/or construction of Landlord’s Work is delayed beyond the Standard Issuance Period (except for delays due to Landlord’s failure to timely provide the City with information requested from Landlord by the City (except to the extent that such delays arise due to Tenant’s failure to provide Landlord information requested from Tenant by Landlord)), then the Target Commencement Date shall be delayed 1 day for each day following the expiration of the Standard Issuance Period that the City fails to issue any such Permits (through and including the date that such Permits are issued by the City). Net Multi-Tenant Laboratory 5505 Morehouse – Suite 300/RayzeBio - Page 3 The “Commencement Date” shall be the earlier of: (i) the date Landlord Delivers the Premises to Tenant; or (ii) the date Landlord could have Delivered the Premises but for Tenant Delays. Upon request of Landlord, Texxxx xhall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Texxxx’x failure to execute and deliver such acknowledgment shall not affect Landlord’s or Tenant’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and, if exercised by Tenant, the Extension Term which Tenant may elect pursuant to Section 40 hereof. Landlord and Texxxx xcknowledge and agree that in order to accommodate Texxxx’x requested schedule for the Delivery of the Premises to Tenant, Landlord has undertaken the performance of Landlord’s Work pursuant to an accelerated construction schedule. If possible taking into account Laxxxxxx’x accelerated construction schedule, Landlord shall permit Tenant access to the Premises for Tenant’s installation and setup of furniture, fixtures and equipment (“FF&E Installation”) as of the earliest date that Landlord reasonably determines that Tenant’s FF&E Installation may be performed without resulting in a delay in Landlord’s completion of Landlord’s Work. Any period of early access to the Premises provided for FF&E Installation shall be coordinated with Landlord, and, during such period, Tenant shall comply with this Lease and all other reasonable restrictions and conditions Landlord may impose. All such access shall be during normal business hours unless otherwise agreed to by Landlord and Tenant. Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent or Operating Expenses. Except as set forth in the Work Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Texxxx xccepts the Premises and that the Premises were in good condition at the time possession was taken. For the period of 365 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost of such repairs. In addition, Tenant shall have the benefit of any warranties issued to Landlord in connection with Landlord’s Work in the Premises, including the Building Systems serving the Premises. Texxxx xgrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered contained herein. Landlord in executing this Lease does so in reliance upon Texxxx’x representations, warranties, acknowledgments and agreements contained herein. Landlord acknowledges that Tenant may utilize the address of the Premises prior to the Commencement Date for the purposes of applying for permits and taking other actions reasonably acceptable to Landlord to prepare for Tenant’s use of the Premises in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (RayzeBio, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays Delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to the Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the later of August 16, 2013 and the earlier of: (i) the date Landlord Delivers the Premises to Tenant in vacant, broom clean condition; or (ii) the contrary contained hereindate Landlord could have Delivered the Premises but for Tenant Delays. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and the Extension Term which Tenant may elect pursuant to Section 39 hereof. Landlord shall keep Tenant updated on the progress of Landlord’s Work and shall, from time to time upon written request from Tenant, provide a written notice of the date Landlord anticipates it will Substantially Complete Landlord’s Work. Except as set forth in the Work Letter, if applicable: (i) Tenant does not terminate this Lease pursuant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the immediately preceding sentence, Base Rent Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. For the period of 60 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined in Section 13) serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant agrees and acknowledges that, except as otherwise set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for Net Multi-Tenant Laboratory 00000 X. Xxxxxx Pines/Wellspring - Page 3 the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Sublease (Kura Oncology, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to (a) commence construction of the Building on or before October 31, 2015 (the “Target Construction Commencement Date”), (b) cause the construction of the Building Shell to be at a point where the exterior vertical envelope of the Building is erected, the roof is substantially complete, the MEP penetrations at the roof are sealed and perimeter caulking has been commenced (collectively, the “Building Dried-In Condition”) on or before July 30, 2016 (“Target Building Dried-In Date”), and (c) deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”)) on or before the Target Commencement Date. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days Tenant shall receive a day-for-day abatement of monthly Base Rent (without double counting) for each (i) day after the Target Construction Commencement Date for any reason other than (as such date may be extended by Force Majeure delays and Tenant Delays) that Landlord fails to commence construction of the Building Shell, (ii) day after the Target Building Dried-In Date (as such date may be extended for Force Majeure delays and Tenant Delays) that Landlord does not cause the construction of the Building Shell to be in Building Dried-In Condition; and/or (iii) day after October 20, 2016 (as such date may be extended by Force Majeure delays and Tenant Delays), that Landlord fails to Deliver the Premises to Tenant with Landlord’s Work Substantially Completed. If Landlord does not (x) commence construction of the Building Shell on or before February 15, 2016 (as such date may be delayed by Force Majeure delays and Tenant Delays), (y) does not cause the construction of the Building Shell to be in Building Dried-In Condition on or before November 30, 2016 (as such date may be delayed by Force Majeure delays and Tenant Delays), or (z) Deliver the Premises to Tenant with Landlord’s Work Substantially Completed on or before January 31, 2017 (as such date may be delayed by Force Majeure delays and Tenant Delays), this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a1) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b2) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Building Shell,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 day periodthe dates set forth in subsections (x), (y) or (z) above (as each may be extended by Force Majeure delays and Tenant Delays), respectively, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Net Laboratory 4796 Executive/Otonomy - Page 3 Notwithstanding anything to the contrary contained hereinherein and for the avoidance of any doubt, if Tenant does not the termination rights provided for in the preceding paragraph shall terminate this Lease on the Commencement Date. If the Commencement Date occurs pursuant to clause (ii) of the immediately preceding sentencefollowing paragraph, Base Rent Landlord shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and nonetheless thereafter continue to use reasonable efforts to Deliver the Premises to Tenant in a timely manner following the Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Otonomy, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Subject to the second to last sentence of this paragraph, Landlord shall use commercially reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant within 60 days after the Target Commencement Date (as such date may be extended by Force Majeure delays and/or Tenant Delays, the “Abatement Date”), Base Rent shall be abated 1 day for each day after the Abatement Date that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 180 days of the Target Commencement Date for any reason other than Force Majeure delays and and/or Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security DepositTxxxxx, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. Notwithstanding the foregoing or anything to the contrary contained in this Lease or the Work Letter, Landlord and Tenant agree that (a) “Landlord’s Work” with respect to the Suite 105 Premises shall mean the construction of the Base Building Work only and shall not include the construction by Landlord of any Tenant Improvements in the Suite 105 Premises, (b) the Suite 105 Premises will be delivered to Tenant is shell condition, and (c) the Substantial Completion of Landlord’s Work in the Suite 105 Premises shall not require the issuance of a certificate of occupancy or temporary certificate of occupancy (or an equivalent approval having been issued) for the Suite 105 Premises. If Tenant Txxxxx does not elect to void this Lease within 10 5 business days of the lapse of such 45 180 day periodDocuSign Envelope ID: 5D3CE323-414A-498D-A95E-B45802F2F177 period set forth in this paragraph, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Omega Therapeutics, Inc.

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver exclusive possession of the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed substantially completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays(as defined in Section 34) delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms term “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have mean the meanings set forth for such terms installation by Landlord, at Landlord’s sole cost, of four 6-foot fume hoods in the Work Letter. Premises in the locations reflected on Exhibit C. If Tenant does not elect to void terminate this Lease within 10 business days of the lapse of such 45 90 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the contrary contained herein, if Tenant does not terminate Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease pursuant as Exhibit D; provided, however, Tenant’s failure to the immediately preceding sentence, Base Rent execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be abated 1 day for each day after such 45 day period (the Base Term, as extended by Force Majeure delays defined above on the first page of this Lease. During the Term, Tenant shall have the right to use the furniture and Tenant Delays) that equipment belonging to Landlord described on Exhibit I attached to this Lease and located within the Premises are on the Commencement Date (“Landlord’s FF&E”). Tenant shall have no right to remove any of Landlord’s FF&E from the Premises without Landlord’s prior written consent, which consent shall not Delivered be unreasonably withheld, conditioned or delayed, and Landlord’s FF&E shall be returned to Landlord at the expiration or earlier termination of the Term in substantially the same condition as received by Tenant, except for ordinary wear and tear and casualty.

Appears in 1 contract

Samples: Lease Agreement (Regulus Therapeutics Inc.)

Delivery; Acceptance of Premises; Commencement Date. The “Commencement Date” shall be the date that Tenant acquires the assets of Sequenom, Inc. a Delaware corporation (“Sequenom”), pursuant to that certain Asset and Purchase Agreement by and between Tenant and Sequenom Center for Molecular Medicine, LLC, dated as of April __, 2016 (the “Acquisition Agreement”). The “Rent Commencement Date” shall be the date that is 9 months after the Commencement Date. Upon request of either party, Landlord and Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, neither party’s failure to execute and deliver such acknowledgment shall affect the rights or obligations of the other party hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Terms which Tenant may elect pursuant to Section 39 hereof. Except as set forth in the Work Letter or as otherwise set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall use reasonable efforts to deliver have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Operating Expenses, but excluding the obligation to pay Base Rent. Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined in Section 14) of which repairs Tenant notifies Landlord on or before the Target date that is 30 days after the Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” unless Tenant or “Deliver”)any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant responsible for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver completing the Premises within 45 days of the Target Commencement Date repairs for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord it is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations responsible under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” paragraph at its own cost and “Substantially Completed” shall have the meanings set forth for such terms expense and in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived a good and this Lease shall remain in full force and effectworkmanlike manner. Notwithstanding anything to the contrary contained hereinin this Lease, if Tenant does not terminate and Landlord acknowledge and agree that the effectiveness of this Lease shall be subject to the following conditions precedent (“Conditions Precedent”) having been satisfied: (i) Landlord shall have entered into a lease termination agreement (“Termination Agreement”) on or before April 30, 2016, with the existing tenant of the Premises which Termination Agreement shall be on terms and conditions acceptable to Landlord, in Landlord’s sole and absolute discretion, and (ii) Tenant shall have acquired Sequenom’s assets pursuant to the immediately preceding sentenceAcquisition Agreement (the “Acquisition Condition”). Tenant shall deliver written notice to Landlord when the Acquisition Condition has occurred. In the event that the Conditions Precedent are not satisfied on or before April 30, Base Rent 2016, this Lease shall terminate and shall be abated 1 day null and void and of no Net Laboratory 7010 Kit Creek/Foundation Medicine - Page 3 further force or effect. Landlord shall have no liability whatsoever to Tenant relating to or arising from Landlord’s inability or failure to cause the Conditions Precedent to be satisfied. Except as otherwise expressly set forth in this Lease, Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for each day after such 45 day period (as extended by Force Majeure delays the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein.

Appears in 1 contract

Samples: Lease Agreement (Foundation Medicine, Inc.)

Delivery; Acceptance of Premises; Commencement Date. As of the Commencement Date, Intercell USA, Inc., a Delaware corporation (“Intercell”), leases the Premises from Landlord pursuant to the terms and conditions of a Lease Agreement dated as of December 18, 2000, as amended (“Intercell Prime Lease”). Pursuant to the Sublease (“Intercell Sublease”) dated as of October 21, 2011 between Intercell, as sublandlord, and Tenant, as subtenant, Tenant will sublease the Premises from Intercell beginning on the Intercell Sublease Commencement Date (as defined below) and ending on March 31, 2013, the expiration date of the Intercell Sublease and the day before the Rent Commencement Date. Effective as of the Rent Commencement Date, Landlord shall use reasonable efforts to deliver make the Premises available to Tenant on or before the Target Commencement Date, with Landlordfor Tenant’s Work Substantially Completed under the Work Letter and Tenant’s delivery of evidence of the insurance required hereby and by the Work Letter (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Rent Commencement Date for any reason other than Force Majeure delays Delays and Tenant DelaysIntercell Delays (as defined below), this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenantterminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Novavax Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant for the conduct of Tenant’s business on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). If Landlord fails to timely so Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not may be void terminated by Landlord or voidable except as provided herein. If Landlord does not Deliver Tenant by facsimile notice to the Premises other within 45 30 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to LandlordDate, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect . The “Commencement Date” shall be the date Landlord Delivers the Premises to provisions which expressly survive termination Tenant. The “Rent Commencement Date” shall be the date that is 4 months after the Commencement Date. The “Term” of this LeaseLease shall be the Base Term described on page 1 of this Lease and, if applicable, the Extension Term (as hereinafter defined) which Tenant may elect pursuant to Section 35 hereof. As used Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. Except as expressly provided herein, effective as of the terms Commencement Date: (i) Tenant shall accept the Premises in their condition as of such date, subject to all applicable Legal Requirements (as defined in Section 6 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time of Delivery. Landlord shall construct improvements to the Premises which are described and shown on Exhibit E attached hereto (“Landlord’s Work,” “Tenant Delays” ”). Landlord, at it sole cost and “Substantially Completed” expense, shall have be responsible for the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days compliance of the lapse Premises as of such 45 day periodthe Commencement Date with the Americans With Disabilities Act, such right to void this Lease 42 U.S.C. § 12101, et seq. Other than Landlord’s Work, Landlord shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything not have any obligation whatsoever with respect to the contrary contained herein, if finishing of the Premises for Tenant’s use and occupancy. Tenant does not terminate this Lease pursuant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the immediately preceding sentencecondition of all or any portion of the Premises or the Project, Base Rent shall be abated 1 day and/or the suitability of the Premises or the Project for each day after such 45 day period (as extended by Force Majeure delays the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein.

Appears in 1 contract

Samples: Lease Agreement (Voyager Pharmaceutical Corp)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use commercially reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding the foregoing, so long as Tenant has not otherwise terminated the Lease pursuant to this paragraph, Base Rent shall be abated 1 day for each day after December 17, 2012 (as such date may be extended for Force Majeure delays and Tenant Delays) that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 30 days of the Target Commencement Date for any reason other than Force Majeure (as defined in Section 34) delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenants’ Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 30 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant; (ii) the date Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant begins to conduct its business and operations in the Premises or any part thereof (but excluding Tenant’s FF&E installation (as defined below)). Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above in the Basic Lease Provisions and the Extension Term which Tenant may elect pursuant to Section 39 hereof. Landlord shall permit Tenant access to the Premises commencing on the date that is 30 days prior to the Commencement Date for Tenant’s installation and setup of its tele/data cabling, workstations and FF&E in the Premises (“FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord, and Tenant complies with the Lease and all other reasonable restrictions and conditions Landlord may impose. All such access shall be during normal business hours. Notwithstanding the foregoing, Tenant shall have no right to enter onto any portion of the Premises or the Project unless and until Tenant shall deliver to Landlord evidence reasonably satisfactory to Landlord demonstrating that the insurance required to be carried by Tenant pursuant to Section 17 is in full force and effect. Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. For the period of 1 year after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Except as set forth in the Work Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof) and Landlord’s obligation to promptly complete all normal “punch list” items in accordance with the Work Letter; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) subject to the terms of the immediately preceding paragraph and Landlord’s obligation to promptly complete all normal “punch list” items in accordance with the Work Letter, Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate shall be entitled to receive the benefit of all construction warranties and manufacturer’s equipment warranties of which Landlord has the benefit relating to the Tenant Improvements. Tenant agrees and acknowledges that, other than as expressly set forth in this Lease pursuant or in the Work Letter neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the immediately preceding sentencecondition of all or any portion of the Premises or the Project, Base Rent shall be abated 1 day and/or the suitability of the Premises or the Project for each day after such 45 day period (as extended by Force Majeure delays the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease (including all attachments hereto) constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Epizyme, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s 's Work Substantially Completed substantially completed ("Delivery" or "Deliver"). If Landlord fails to timely Deliver substantially complete Landlord's Work on or before the PremisesTarget Commencement Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than Force Majeure delays and or Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “If neither Landlord nor Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. As used herein, "Landlord's Work" shall mean the following work to be completed by Landlord, at Landlord's cost and expense, (i) touch up or re-paint, as Landlord's reasonable discretion, the walls in the shared lobby and the restroom areas, (ii) repair or replace, at Landlord's reasonable discretion, the flooring in the shared lobby and the restroom areas, and (iii) install a locking door to the hallway accessing the restroom from the Premises (but not a security system). The "Commencement Date" shall be the date Landlord Delivers the Premises to Tenant. The "Rent Commencement Date" shall be the earlier of: (i) 105 days after Landlord's Delivery of the Premises to Tenant, and (ii) the date the Tenant Improvements are Substantially Completed (as defined in the Work Letter) by Tenant. Notwithstanding the foregoing, provided that Tenant delivers written notice to Landlord of any of the following conditions immediately after Tenant's discovery of such condition and, in the case of sub-item (b) below, concurrently delivers evidence thereof reasonably satisfactory to Landlord of such condition, the 105-day period set forth in clause (i) of the preceding sentence shall be extended by 1 day for each day that Tenant's Substantial Completion of the Tenant Improvements is delayed due to (a) Landlord's failure to respond within the time periods required in the Work Letter, (b) the presence of Hazardous Materials in the Premises for which Landlord is responsible under the Work Letter, or (c) the occurrence of fire not caused by Tenant or the Tenant Parties, earthquake or flood. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the "Acknowledgement of Commencement Date" attached to this Lease as Exhibit D; provided however, Tenant's failure to execute and deliver such acknowledgment shall not affect Landlord's rights hereunder. The "Term" of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Terms which Tenant may elect pursuant to Section 40 hereof. Landlord hereby agrees to permit Tenant access, at Tenant's sole risk and expense, to the Premises commencing on October 15, 2008, to commence the Tenant Improvements, provided that such construction of the Tenant Improvements by Tenant is coordinated with Landlord's architect and general contractor, and complies with the Lease and all other reasonable restrictions and conditions Landlord may impose. All such access shall be during normal business hours or at such other times as are reasonably designated by Landlord. Notwithstanding the foregoing, Tenant shall have no right to enter onto the Premises or the Project unless and until Tenant shall deliver to Landlord evidence reasonably satisfactory to Landlord demonstrating that any insurance required by Landlord in connection with such pre-commencement access (including, but not limited to, any insurance that Landlord may require pursuant to this Lease) is in full force and effect. Any entry by Tenant shall comply with all established safety practices of Landlord's contractor and Landlord until completion of Landlord's Work and acceptance thereof by Tenant. Neither Tenant nor any Tenant Party shall interfere with the performance of Landlord's Work, nor with any inspections or issuance of final approvals by applicable Governmental Authorities, and upon any such interference, Landlord shall have the right to exclude Tenant and any Tenant Party from the Premises and the Project until substantial completion of Landlord's Work. Except as set forth in this Lease or the Work Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant's taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, except for the obligation to pay Base Rent or Operating Expenses. Notwithstanding anything to the contrary contained herein, if Tenant does for the period of 90 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not terminate this Lease pursuant constitute an Operating Expense), be responsible for any repairs that are required to be made to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period Building (including the roof) or Building Systems (as extended by Force Majeure delays defined in Section 13); provided, however, that Tenant shall pay the cost of any such repairs if (i) such repairs are required as a result of the Tenant Improvements, or 00 Tenant, or any of Tenant's contractors, vendors or consultants, was responsible for the cause of such repair. Tenant agrees and acknowledges that, except as otherwise set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant's business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant's representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (BioCardia, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver make the Premises available to Tenant on or before the Target Commencement Date, with Landlordfor Tenant’s Work Substantially Completed under the Work Letter upon full execution of this Lease and Tenant’s delivery of evidence of the insurance required hereby and by the Work Letter (“Delivery” or “Deliver”). If Landlord fails to timely Deliver deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant DelaysMajeure, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “If neither Landlord nor Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60-day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be October 1, 2001. Rent shall commence on the Commencement Date as to 6,215 rentable square feet of the Premises, and shall commence on the earlier of: (i) 90 days after the Commencement Date, and (ii) the date Tenant conducts any business in the Premises or any part thereof (the “Rent Commencement Date”), with respect to the contrary contained hereinbalance of the Premises. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Data and the expiration date of the Term when such are established in the form attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The "Term” of this Lease shall be the Base Term. Except as set forth in the Work Letter, if applicable: (i) Tenant does not terminate this Lease pursuant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the immediately preceding sentence, Base Rent Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations that are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Omeros Corp)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Initial Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). Subject to Landlord’s right to enter the Initial Premises to complete the Landlord’s Work (as defined below), Tenant may commence Tenant’s Work with respect to Initial Premises upon Landlord’s Delivery of the Initial Premises. If Landlord fails to timely Deliver the Initial Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Initial Premises within 45 10 business days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice given to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms term LandlordTenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings meaning set forth for such terms in the Work Letter. ” attached to this Lease as Exhibit C. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 10 business day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the date Landlord Delivers the Initial Premises to Tenant. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s or Tenant’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease, and any Extension Term which Tenant may elect pursuant to Section 39 hereof. Landlord and Tenant acknowledge and agree that the Additional Premises are currently subject to a lease agreement between Landlord and another tenant (“Existing Tenant”). Landlord shall deliver the Additional Premises to Tenant promptly after the expiration of the term of such other lease and the surrender of the Additional Premises by the Existing Tenant. The parties project the date for delivery of the Additional Premises to be December 31, 2006 (the “Additional Premises Delivery Date”). Until Landlord delivers the Additional Premises to Tenant, the provisions of this Lease shall only apply to the contrary contained Initial Premises. Thereafter, the provisions of this Lease shall apply to both the Initial Premises and the Additional Premises. Upon the request of Landlord, Tenant shall execute a written acknowledgment of the date of the delivery of the Additional Premises to Tenant provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. If Landlord fails to deliver the Additional Premises to Tenant with Landlord’s Work substantially completed on or before the Additional Premises Delivery Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Additional Premises to Tenant with Landlord’s Work substantially completed on or before February 1, 2007, or, if there are Force Majeure delays, on or before April 2, 2007, this Lease may be terminated by Tenant by written notice given to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. If Tenant does not terminate elect to void this Lease within 7 days after Tenant has the right to do so pursuant to the immediately preceding sentencesecond sentence of this paragraph, Base Rent Tenant’s right to void this Lease shall be abated 1 day waived and this Lease shall remain in full force and effect The Premises shall contain the previously used furniture described on Exhibit H (collectively, “Landlord’s Property”) for each day after such 45 day period (as extended by Force Majeure delays and Tenant’s use at no additional cost. Tenant Delays) that shall not remove any of Landlord’s Property from the Premises are not Delivered and shall return the same to TenantLandlord at the expiration or earlier termination of the Term in the same condition as received except for normal wear and tear.

Appears in 1 contract

Samples: Lease Agreement (Poniard Pharmaceuticals, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver exclusive possession of the Premises (“Delivery” or “Deliver”) to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to the Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void terminate this Lease within 10 business days of the lapse of such 45 90 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant. The “Rent Commencement Date” shall be the date that is 3 months after the Commencement Date. The period commencing on the Commencement Date through the day immediately preceding the Rent Commencement Date may be referred to herein as the “Abatement Period.” Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. Notwithstanding anything to the contrary contained hereinin this Lease, if Tenant does and Landlord acknowledge and agree that the effectiveness of this Lease shall be subject to the following condition precedent (“Condition Precedent”) having been satisfied: Landlord shall have entered into a lease termination agreement with respect to the Premises (“Termination Agreement”) and a new lease (“New Lease”) for the space at the Project being surrendered by Tenant with Nitto Biopharma, Inc., a Delaware corporation (“Nitto”), the existing tenant of the Premises, which Termination Agreement and New Lease shall be on terms and conditions acceptable to Landlord, in Landlord’s sole and absolute discretion. In the event that the Condition Precedent is not satisfied, Landlord shall have the right to terminate this Lease upon delivery of written notice to Tenant. Landlord shall have no liability whatsoever to Tenant relating to or arising from Landlord’s inability or failure to cause the Condition Precedent to be satisfied. Except as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises. Tenant shall have no right to occupy the Premises prior to the Commencement Date pursuant to this Lease, however, Landlord hereby consents to Tenant accessing the immediately preceding sentencePremises prior to the Commencement Date pursuant to a separate written agreement between Tenant and Nitto; provided that Tenant may not make any alterations to the Premises prior to the Commencement Date without Landlord’s prior written consent, Base Rent which consent shall not be abated 1 day unreasonably withheld, conditioned or delayed. Nothing contained in this paragraph shall limit Landlord’s maintenance obligations under Section 13. Tenant agrees and acknowledges that, except as otherwise expressly set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for each day after such 45 day period (as extended by Force Majeure delays the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Regulus Therapeutics Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with LandlordLxxxxxxx’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained in this Agreement, if Landlord fails to deliver the Premises to Tenant on or before the Target Commencement Date (as extended by Force Majeure delays and/or Tenant Delays), Tenant shall be entitled, starting on the Rent Commencement Date, to occupy the Premises, without the obligation to pay Base Rent, 2 days for each day following the Target Commencement Date until the Premises are Delivered to Tenant. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays Delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,”Tenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Yumanity Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver make the Premises available to Tenant on or before the Target Commencement Date, with Landlordfor Tenant’s Work Substantially Completed under the Work Letter within 5 days of full execution of this Lease and Tenant’s delivery of evidence of the insurance required hereby and by the Work Letter (“Delivery” or “Deliver”). If Landlord fails is reasonably unable to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does is not reasonably able to Deliver the Premises within 45 60 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may shall be terminated voidable by Landlord or Tenant by written notice to Landlordthe other, and if so terminated voided by Tenanteither: (a) so long as Tenant is not in default hereunder, the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), Deposit shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially CompletedForce Majeure” shall have the meanings meaning set forth for such terms in the Work LetterSection 24. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 60 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the earlier of: (i) May 1, 2000; and (ii) the date Tenant conducts any business in the Premises or any part thereof. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the contrary contained hereinBase Term and any Extension Terms which Tenant may elect pursuant to Section 40 hereof. Except as set forth in the Work Letter, if applicable: (i) Tenant does not terminate this Lease pursuant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable laws, ordinances, regulations, covenants and restrictions; (ii) Landlord shall have no obligation for any defects in the immediately preceding sentence, Base Rent Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Rent. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of any or all of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Omeros Corp)

AutoNDA by SimpleDocs

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant with the improvements reflected on or before the Target Commencement Date, with plan set forth on Exhibit C attached hereto (“Landlord’s Work Work”) Substantially Completed and in broom clean condition (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Upon written request from Tenant, Landlord shall provide Tenant with updates regarding the progress of Landlord’s Work and any anticipated delays in the Substantial Completion of Landlord’s Work beyond the Target Commencement Date. If Landlord does not Deliver the Premises within 45 30 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays(as defined in Section 34) delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. Landlord shall Substantially Complete or cause Landlord’s Work to be Substantially Completed, at its sole cost, in a good and workmanlike manner. Tenant shall have no right to make any changes to Landlord’s Work. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have mean the meanings set forth for such terms substantial completion of Landlord’s Work in a good and workmanlike manner, in accordance with the applicable permits subject to normal “punch list” items of a non-material nature that do not interfere with the use of the Premises and with a certificate or temporary certificate of occupancy (or an equivalent approval) having been issued permitting lawful occupancy of the Premises (but specifically excluding any permits, licenses or other governmental approvals required to be obtained in connection with Tenant’s operations in the Work LetterPremises). If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 30 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Net Multi-Tenant Laboratory 201 Xxxxxxx – Suite 210/Graphite - Page 3 The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant; provided, however, that in no event shall the Commencement Date occur prior to the Target Commencement Date. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s or Tenant’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and the Extension Term which Tenant may elect pursuant to Section 39 hereof. Landlord shall permit Tenant access to the Premises commencing on the date that is 30 days prior to the Commencement Date for Tenant’s installation and set-up of its furniture, fixtures and equipment in the Premises (collectively, “FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord, and Tenant complies with this Lease and all other reasonable restrictions and conditions Landlord may impose during the FF&E Installation. All such access shall be during normal business hours. Notwithstanding the foregoing, Tenant shall have no right to enter onto any portion of the Premises or the Project unless and until Tenant shall deliver to Landlord evidence reasonably satisfactory to Landlord demonstrating that the insurance required to be carried by Tenant pursuant to Section 17 is in full force and effect. Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding, except as otherwise expressly provided in the immediately following paragraph, the obligation to pay Base Rent and Operating Expenses. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant has requested and Landlord has agreed to use reasonable efforts to Substantially Complete Landlord’s Work in the Suite 110 Premises by July 15, 2021, so that Tenant may commence occupying and operating in the Suite 110 Premises prior to the immediately preceding sentenceCommencement Date. If Landlord Substantially Completes Landlord’s Work in the Suite 110 Premises prior to the Target Commencement Date, then Landlord shall Deliver to Tenant the Suite 110 Premises and Tenant shall commence paying Base Rent and Operating Expenses with respect to the Suite 110 Premises on the date that Landlord Delivers the Suite 110 Premises to Tenant. Except as expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Prior to the Commencement Date, within 3 business days after request from Landlord to Tenant, Landlord and Tenant shall conduct a walk-through inspection of the Premises to create a punch list reasonably acceptable to Landlord and Tenant. Notwithstanding the foregoing, to the extent that Landlord’s Delivers the Suite 110 Premises to Tenant prior to the Commencement Date as contemplated above, such walk-through inspection with respect to the Suite 110 Premises shall be conducted prior to the date Landlord Delivers the Suite 110 Premises to Tenant, within 3 business days after request from Landlord to Tenant. Landlord shall undertake and shall use reasonable efforts to complete, or cause to be completed, all punch list items identified during such walk-through inspection within 30 days after the Commencement Date (or, if applicable, with respect to the Suite 110 Premises, within 30 days after Delivery of the Suite 110 Premises to Tenant). Landlord shall deliver the Premises to Tenant furnished with the furniture, fixtures and equipment reflected on the space plan attached hereto as Exhibit C (“Landlord’s FF&E”) for Tenant’s use in the Premises during the Term. Tenant shall have no right to remove any of Landlord’s FF&E from the Premises and Landlord’s FF&E shall be returned to Landlord at the expiration or earlier termination of the Term in substantially the same condition as received by Tenant, except for ordinary wear and tear and casualty. Notwithstanding anything to the contrary contained herein, for the period of 30 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. In addition, Tenant shall have the benefit of any existing warranties issued to Landlord with respect to the Building Systems serving the Premises and any warranties issued to Landlord in connection with Landlord’s Work. If requested by Tenant, Landlord shall attempt to obtain extended warranties from manufacturers and suppliers of the equipment installed in the Premises as part of Landlord’s Work, but the cost of any such extended warranties shall be borne solely by Tenant. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Graphite Bio, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”)) for Tenant’s construction of the Tenant Improvements pursuant to the Work Letter in Tenant Improvement Work Readiness Condition on or before the Target Commencement Date. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 150 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease)) and any prepaid Base Rent, shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. .. As used herein, the terms “Landlord’s Work,” “Tenant DelaysImprovements” and “Substantially CompletedTenant Improvement Work Readiness Condition” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 150 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Atreca, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises for any reason other than Force Majeure Delays and Tenant Delays, Tenant shall have the following rights and remedies: (a) for every day of delay by Landlord after the Target Commencement Date for the first 30 days after the Target Commencement Date, Tenant shall be entitled to a rent credit, for each such day, equal to 1/30th of the monthly Base Rent payable for the Premises following the Commencement Date, which rent credit may be credited immediately by Tenant against Rent due for the Initial Premises as well as the Premises (if and when delivered), provided, however Tenant shall not be required to pay any Rent for the Premises until Delivered; and (b) if Landlord fails to Deliver the Premises within 30 days of the Target Commencement Date (other than as a result of Force Majeure Delays and Tenant Delays), Tenant shall have the right to make one of the following elections upon written notice to Landlord: (i) to terminate this Lease (and Tenant shall specify the termination date for the Initial Premises in such notice, which shall be no later than April 30, 2005); or (ii) to elect to continue to receive the rent credit specified above until the Premises are Delivered or until Tenant elects to terminate this Lease for the Premises, . Tenant agrees that the rent credit described in this paragraph is Tenant’s sole damage remedy (together with its termination rights) for delay in the Delivery of the Premises and Landlord shall not be liable to Tenant for any loss or damage resulting therefromfrom Landlord’s failure to deliver the Premises to Tenant. Notwithstanding anything to the contrary contained in this Lease, under no circumstances shall the term of this Lease with respect to the Initial Premises extend beyond April 30, 2005, and this Lease Tenant shall not be void or voidable except as provided hereinhave no right to occupy the Initial Premises after April 30, 2005. If Tenant elects to terminate the Lease, Tenant shall provide Landlord does not Deliver with written notice of Tenant’s election no later than 30 days after the Premises within 45 date that is 30 days of after the Target Commencement Date (as the same is extended for any reason other than Force Majeure delays Delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord), and if so terminated by Tenantterminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, Tenant and (b) neither Landlord nor Tenant shall shaft have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenants’ Work,” “Force Majeure Delays,” “Tenant Delays” and “Substantially Completed” shall shaft have the meanings set forth for such terms in the Work Letter. If Tenant does not fails to elect to void terminate this Lease within 10 business days of the lapse of such 45 day periodtime period provided for in this paragraph, such Tenant’s right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant (ii) the date Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant conducts any material amount of business in the Premises or any part thereof. Upon request of either party hereto, the other party hereto shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, such party’s failure to execute and deliver such acknowledgment shall not affect the other party’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Terms which Tenant may elect pursuant to Section 39 hereof. Except as set forth in the Work Letter (including, but not limited to the contrary contained hereinrequirement that Landlord Substantially Completes Landlord’s Work): (i) Tenant shall accept the Premises in their condition as of the Commencement Date, if Tenant does not terminate this Lease pursuant subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the immediately preceding sentence, Base Rent Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease. For the period of 60 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (MAP Pharmaceuticals, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the PremisesPremises prior to such time, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, then Tenant shall receive a credit of one (1) day’s free Base Rent for each day of after such 90th day until Landlord Delivers the Premises. If Landlord does not Deliver the Premises within 180 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, then this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenantterminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 180-day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained hereinherein and for the avoidance of any doubt, if the termination rights provided for in this paragraph shall terminate on the Commencement Date. The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant; (ii) the date Landlord could have Delivered the Premises but for Tenant does Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof (it being understood that the mere preparation of the Premises for its occupancy, moving into the Premises and the installation of furniture and equipment in the Premises shall not terminate be deemed to be the conduct of business by Tenant). Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s or Tenant’s rights hereunder (except those rights of Tenant affected by virtue of Tenant being in default). The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease, and (if and when exercised) the Extension Term that Tenant may elect pursuant to Section 40 hereof. Subject to the immediately preceding sentenceprovisions of Section 6 of the Work Letter, Base Rent Landlord shall permit Tenant access to the Premises at such time as set forth in Section 6 of the Work Letter prior to the Commencement Date for Tenant’s installation and setup of furniture, fixtures and equipment (“FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord, and Tenant complies with the Lease and all other reasonable restrictions and conditions Landlord may impose in writing. All such access shall be abated 1 day during normal business hours unless Landlord otherwise agrees in writing (such agreement not to be unreasonably withheld, conditioned or delayed). Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent, Operating Expenses or any charges under Section 11 hereof for each day after such 45 day period Utilities or Janitorial Service. Except as set forth in the next paragraph or the Work Letter: (i) Tenant shall accept the Premises in their condition as extended by Force Majeure delays of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant Delays) accepts the Premises and that the Premises were in the condition required to be delivered by Landlord hereunder, subject to Tenant’s rights under the Work Letter and Landlord’s ongoing repair and maintenance obligations hereunder. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, except the obligation to pay Rent. Notwithstanding anything contained in this Lease to the contrary, and as set forth in the Work Letter, for the period of one (1) year after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible to rectify any defects in the original construction of the Building, provided Tenant gives written notice of any such defects within such time, unless Tenant or any Tenant Party was responsible for the cause of such repair or replacement, in which case Tenant shall pay the cost. Landlord also shall use commercially reasonable efforts to enforce any contractor warranties for Landlord’s Work (to the extent any such warranties exist) for one (1) year after the Commencement Date, provided Tenant gives written notice of any necessary repairs or replacements within such time that are reasonably expected to be covered under any such warranty, unless Tenant or any Tenant Party was responsible for the cause of such repair or replacement, in which case Tenant shall pay all of Landlord’s costs and expenses incurred to enforce any such warranties. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein; and Tenant in executing this Lease does so in reliance upon Landlord’s agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Forma Therapeutics Holdings, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to deliver the Premises to Tenant (i) by the date that is 30 days after the Target Commencement Date (as such date may be extended for Force Majeure (as defined in Section 34) delays) (the “Initial Abatement Date”), Base Rent shall be abated 1 day for each day after the Initial Abatement Date (as such date may be amended for Force Majeure delays) through the Second Abatement Date that Landlord fails to deliver the Premises to Tenant, and (ii) by the date that is 90 days after the Target Commencement Date (as such date may be extended for Force Majeure delays) (the “Second Abatement Date”), Base Rent shall be abated 2 days for each day after the Second Abatement Date (as such date may be amended for Force Majeure delays) that Landlord fails to deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 180 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by TenantXxxxxx: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 180 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (GreenLight Biosciences Holdings, PBC)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work the Tenant Improvements Substantially Completed (“Delivery” or “Deliver”). Delivery shall not be deemed to have occurred unless (i) the Base Building Improvements (as described in Exhibit C) (other than the landscaping (not including grading or earthmoving activity) and south patio site concrete work which may completed after the Commencement Date) have been substantially completed and the Tenant Improvements have been Substantially Completed and (ii) subject to the other provisions of this Lease, the number of parking spaces which Tenant is entitled to use under this Lease are available for use by Tenant. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not fails to Deliver the Premises within 45 days of the Target Commencement Date by August 31, 2012 (as such date may be extended for any reason other than Tenant Delays and/or Force Majeure delays and Tenant Delaysfor each day after (i) December 9, 2011, that this Lease may has not been fully executed and delivered by both parties and (ii) December 15, 2011, until the Space Plan has been finalized, the “Outside Date”), Landlord shall reimburse Tenant for the Holdover Premium actually required to be terminated paid by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned pursuant to Tenant’s existing lease agreements for its current space (collectively, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this “Tenant’s Existing Lease, except with respect to provisions which expressly survive termination of this Lease”). As used herein, the terms Landlord’s Work,” “Tenant Delays” and “Substantially CompletedHoldover Premium” shall have mean the meanings set forth amount of $59,450.00 per month, which is the penalty amount required to be paid by Tenant over and above the amount of rent that is otherwise payable by Tenant each month during the last year of the term under Tenant’s Existing Lease in order for Tenant to hold over in their current space. Landlord shall, however, only be responsible for the portion of the Holdover Premium due during the period between the Outside Date and the date that Landlord Delivers the Premises to Tenant; provided, however, that if Landlord fails to Deliver the Premises to Tenant on or before the Outside Date, the Commencement Date shall be extended for 1 full month (the “1 Month Extension”) and Landlord shall be responsible for 1 full month of Holdover Premium regardless of whether Landlord Delivers the Premises to Tenant prior to the expiration of such terms in 1 month period. Tenant represents and warrants to Landlord that the Work LetterHoldover Premium shall be due and payable by Tenant under Tenant’s Existing Lease if Tenant holds over. If Tenant does not elect agrees to void this any amendments or modifications to Tenant’s Existing Lease within 10 business days which in any way increases or results in an increase in the Holdover Premium, Tenant shall be solely responsible for paying the increased portion of such Holdover Premium. Payment of the lapse of such 45 day period, such right to void this Lease Holdover Penalty for any fractional calendar month shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenantprorated.

Appears in 1 contract

Samples: Lease Agreement (Optimer Pharmaceuticals Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver exclusive possession of the Suite 100 Premises (“Delivery” or “Deliver”) to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to the Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), pre-paid Base Rent shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void terminate this Lease within 10 business days of the lapse of such 45 90 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Landlord and Tenant acknowledge that Tenant occupied the Suite 200 Premises prior to the Commencement Date pursuant to that certain Lease dated January 19, 2016 (the “Prior Lease”). The “Commencement Date” shall be the date Landlord Delivers the Suite 100 Premises to Tenant. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease, as may be extended by Tenant pursuant to Section 39 of this Lease. Notwithstanding anything to the contrary contained hereinin this Lease, if Tenant does and Landlord acknowledge and agree that the effectiveness of this Lease shall be subject to the following condition precedent (“Condition Precedent”) having been satisfied: Landlord shall have entered into a lease termination agreement with respect to the Suite 100 Premises (“Termination Agreement”) and a new lease (“New Lease”) for the space at the Project being surrendered by Tenant with Regulus Therapeutics Inc., a Delaware corporation (“Regulus”), the existing tenant of the Suite 100 Premises, which Termination Agreement and New Lease shall be on terms and conditions acceptable to Landlord, in Landlord’s sole and absolute discretion. In the event that the Condition Precedent is not satisfied, Landlord shall have the right to terminate this Lease upon delivery of written notice to Tenant, in which case Landlord shall promptly return any prepaid Base Rent actually paid by Tenant. Landlord shall have no liability whatsoever to Tenant relating to or arising from Landlord’s inability or failure to cause the Condition Precedent to be satisfied. Net Laboratory 10628 Science Ctr./Turning Point - Page 3 Except as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their “as-is” condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Suite 100 Premises and continued occupancy of the Suite 200 Premises shall be conclusive evidence that Tenant accepts the Premises. Tenant shall have no right to occupy the Suite 100 Premises prior to the Commencement Date pursuant to this Lease, however, Landlord hereby consents to Tenant accessing the immediately preceding sentencePremises prior to the Commencement Date pursuant to a separate written agreement between Tenant and Regulus; provided that Tenant may not make any alterations to the Premises prior to the Commencement Date without Landlord’s prior written consent other than the approved alterations described on Exhibit I attached hereto (“Approved Alterations”), Base Rent which Approved Alterations shall be abated 1 day performed by Tenant, at Tenant’s sole cost and expense, subject to the terms of Section 12 and any other conditions that Landlord and/or Regulus may reasonably impose. Nothing contained in this paragraph shall limit Landlord’s maintenance obligations under Section 13. Tenant agrees and acknowledges that, except as otherwise expressly set forth in this Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for each day after such 45 day period (as extended by Force Majeure delays the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Turning Point Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts shall, subject to deliver the other provisions of this Lease, make the Premises available to Tenant on or before the Target Commencement Date, with Landlordfor Tenant’s Work Substantially Completed under the Work Letter within 5 business days after the full execution and delivery of this Lease (“Delivery” or “Deliver”). Tenant shall deliver evidence of the insurance required to be maintained by Tenant under this Lease and the Work Letter along with Tenant’s delivery of an executed copy of this Lease to Landlord. Landlord shall use its reasonable efforts to Deliver the Premises by April 1, 2012. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date for any reason other than Force Majeure delays and by June 1, 2012, Tenant Delays, may terminate this Lease may be terminated by Tenant by on 10 days prior written notice to Landlord unless Delivery of the Premises occurs during the 10 day period following Landlord’s receipt of such notice; provided, and however, that if so terminated by Tenant: (a) the Security DepositTenant fails to provide such notice to Landlord on or before June 5, or any balance thereof (i.e.2012, after deducting therefrom all amounts Tenant shall have no further right to which Landlord is entitled under terminate this Lease pursuant to the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Leasesentence. As used herein, the terms term LandlordTenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings meaning set forth for such terms term in the Work Letter. If Tenant does not elect to void this Lease within 10 business days acknowledges and agrees that construction of the lapse Tenant Improvements will be undertaken at the same time as Landlord is undertaking the construction of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period Landlord’s Work (as extended by Force Majeure delays defined in the Work Letter) and Tenant Delays) that the parties and their contractors will be required to coordinate their work with one another (including, without limitation, work within the Premises) but in no event may Tenant or any Tenant Party (as defined below) delay or interfere with the performance of Landlord’s Work, nor with any inspections or issuance of final approvals by applicable Governmental Authorities (as defined below) nor cause an increase the cost of the performance of Landlord’s Work. Tenant further acknowledges and agrees that Landlord’s Work includes, without limitation, the construction of a pass through lobby and common area restrooms and Landlord will also be accessing the Premises are not Delivered to Tenantin connection with the construction of the same.

Appears in 1 contract

Samples: Lease Agreement (Ligand Pharmaceuticals Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Initial Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). Subject to Landlord’s right to enter the Initial Premises to complete the Landlord’s Work (as defined below), Tenant may commence Tenant’s Work with respect to Initial Premises upon Landlord’s Delivery of the Initial Premises. If Landlord fails to timely Deliver the Initial Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Initial Premises within 45 10 business days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice given to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms term LandlordTenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings meaning set forth for such terms in the Work Letter. ” attached to this Lease as Exhibit C. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 10 business day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Sublease Agreement (Poniard Pharmaceuticals, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Subject to the provisions of the Work Letter, immediately after the pouring of the concrete floor for the second deck of the Building (the “Pour Date”), Landlord shall permit Tenant and Tenant’s agents to enter the Premises for the purpose of performing Tenant’s Work. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord the Pour Date does not Deliver the Premises within 45 days occur by August 20, 2001, as such date may be extended by reason of the Target Commencement Date for any reason other than Force Majeure delays and Delays or Tenant Delays, this Lease may shall be terminated voidable by Tenant by written notice to LandlordLandlord delivered within 5 business days after the Pour Date (as extended) and, and if so terminated voided by Tenant: (a) so long as Tenant is not in default hereunder, the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), Deposit shall be returned to TenantTenant (if the same has been paid to Landlord), and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. If Tenant does not elect to void this Lease within such 5 business day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. As used herein, the terms “Landlord’s Work,” “Tenants’ Work,” “Force Majeure Delays,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Sunesis Pharmaceuticals Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), and any prepaid Base Rent shall be returned to TenantTenant within 30 days thereafter, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Xeris Pharmaceuticals Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contain herein, if Landlord fails to Deliver the Premises to Tenant on or before the date that is 60 days after the Target Commencement Date (as such date may be extended for Force Majeure delays and Tenant Delays), then Base Rent shall be abated 1 day for each day thereafter until Landlord Delivers the Premises to Tenant with Landlord’s Work Substantially Completed. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Work,”“Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 90 day periodperiod (as extended for Force Majeure delays and Tenant Delays), such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant with Landlord’s Work Substantially Completed; (ii) the date Landlord could have Delivered the Premises with Landlord’s Work Substantially Completed but for Tenant Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof; provided, however, in no event shall the Commencement Date occur prior to November 15, 2016. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Term which Tenant may elect pursuant to Section 39 hereof. For the period of 30 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the contrary contained hereinBuilding Systems (as defined in Section 13) serving the Premises, if unless Tenant does not terminate or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Subject to the provisions of Section 6 of the Work Letter, Landlord shall permit Tenant access to the Premises for a period of 30 days prior to the Commencement Date for Tenant’s installation and setup of furniture, fixtures, tele/data cabling and equipment (“FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord, and Tenant complies with the Lease and all other reasonable restrictions and conditions Landlord may impose. All such access shall be reasonably coordinated with Landlord. Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. Except as otherwise expressly set forth in this Lease pursuant or in the Work Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the immediately preceding sentence, Base Rent Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Frequency Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s the Base Building Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises for any reason within 45 270 days of the Target Commencement Date for any reason other than as such period may be extended by Force Majeure delays Delays (not to exceed 1 year in the aggregate) and Tenant DelaysDelays on a day-for-day basis, this Lease may be terminated by Tenant by written notice to LandlordLandlord (except that any Tenant Delay shall extend the Target Commencement Date on a day-for-day basis), and if so terminated by Tenantterminated: (a) the first month’s Base Rent for the Premises paid by Tenant pursuant to Section 3(a) below shall be refunded to Tenant, (b), the Security Deposit, or any balance thereof (thereof, i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to TenantTenant (and if the Security Deposit is the form of a Letter of Credit [as defined in Section 6], with such documentation or instructions as reasonably required by the issuer thereof to cancel the Letter of Credit), and (bc) neither Landlord nor Tenant shall have any further rights, duties duties, or obligations under this Lease, except with respect to provisions which that expressly survive termination of this Lease. If any Tenant Delay actually delays Landlord’s Delivery of the Base Building Work beyond such 270 day period, then Landlord shall cause the Base Building Architect to certify the date on which the Base Building Work would have been completed but for such Tenant Delay and shall provide such certification to Tenant by written notice, and such certified date shall be the date of Delivery, subject to Tenant’s right to dispute reasonably in good faith any Tenant Delay claimed by Landlord, by written notice to Landlord given within 30 days after Tenant’s receipt of the Base Building Architect’s certification thereof. As used herein, the terms “Landlord’s Base Building Work,” “Base Building Architect,” “Tenant Improvements Work,” “Force Majeure Delays,” “Tenant Delays,” and “Substantially Completed” shall have the meanings set forth for such terms in the Landlord Work LetterLetter (Exhibit C-1) and the Tenant Work Letter (Exhibit C-2), as applicable. If Tenant does not elect to void terminate this Lease within 10 business 30 days of the lapse of such 45 270 day periodperiod as it may have been extended as provided above, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything In addition to Tenant’s termination right set forth in the contrary contained hereinpreceding paragraph, if Tenant does not shall have the right to terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.follows:

Appears in 1 contract

Samples: Lease Agreement (REGENXBIO Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, subject to extension for Force Majeure Delays and Tenant Delay, with Landlord’s Work 's Work, if any, Substantially Completed and the Baseline Assessment (“Delivery” as defined in the Work Letter done ("DELIVERY" or “Deliver”"DELIVER"). If Landlord fails to timely Deliver the Premises, Base Rent payable hereunder shall be abated after the first 30 days of any such delay not arising by reason of Force Majeure Delay or Tenant Delay as follows: (i) one day for each of the next 30 days of any such delay, (ii) one and one-half days for each of the next 30 days of any such delay, and (iii) two days for each day of any such delay thereafter until December 31, 2000. Except for such abatement of Base Rent, Landlord shall not be liable to Tenant for any loss or damage resulting therefromfrom any such delay, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises on or before December 31, 2000, as such date shall be extended one day for each day of Tenant Delay under the Work Letter (as extended, the "OUTSIDE DATE"), Tenant shall have the right to terminate this Lease by delivery of written notice to Landlord no later than three business days after the Outside Date. If Tenant fails to deliver such notice within 45 days three business day of the Target Commencement Date for any reason other than Force Majeure delays and Tenant DelaysOutside Date, this Lease may be terminated by shall continue if full force and effect. If Tenant by written timely delivers notice to Landlord, and if so terminated by Tenantterminating this Lease: (a) Landlord shall (i) reimburse Tenant for any costs or expenses paid or incurred by Tenant under the Budget (as defined in the Work Letter), (ii) return the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work"LANDLORD'S WORK,” “Tenant Delays” " "TENANT DELAYS," "EXCESS TENANT DELAYS" and “Substantially Completed” "SUBSTANTIALLY COMPLETED" shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Biogen Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Area A Premises to Tenant on or before the Target Area A Commencement Date, with the Area B Premises to Tenant on or before the Area B Commencement Date, and the Area C Premises to Tenant on or before the Area C Commencement Date. Landlord’s Work Substantially Completed (“Delivery” 's delivery of the Area A Premises, the Area B Premises or “Deliver”)the Area C Premises shall be referred to herein as "DELIVERY" or "DELIVER". If Landlord fails to timely Deliver any of the Area A Premises, the Area B Premises or the Area C Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If , but the payment of rent shall xxxxx until the date that Landlord does not shall actually Deliver the Premises within 45 days any portion of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effectPremises. Notwithstanding anything to the contrary contained herein, if (i) Tenant does not terminate this Lease pursuant shall accept the each portion of the Premises in their condition as of the Area A Commencement Date, the Area B Commencement Date, and the Area C Commencement Date respectively, subject to all applicable laws, ordinances, regulations, covenants and restrictions; (ii) Landlord shall have no obligation for any defects in the Premises; and (ii) Tenant's taking possession of the Premises shall be conclusive evidence that that the Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Any occupancy of Area A prior to the immediately preceding sentenceArea A Commencement Date, Base Rent or Area C prior to the Area C Commencement Date by Tenant before the any Commencement Date shall be abated 1 day subject to all of the terms and conditions of this Lease, including the obligation to pay Rent. Tenant shall be entitled to use all of the common areas of the Premises after the Area B Commencement Date. Tenant shall have access to the Premises prior to any Commencement Date for each day after such 45 day period (the purposes of installing Tenant's equipment and preparing for occupancy as extended by Force Majeure delays set forth in the Work Letter attached as Exhibit B. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of any or all of the Premises, and/or the suitability of the Premises for the conduct of Tenant's business, and Tenant Delays) waives any implied warranty that the Premises are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered contained herein. Landlord in executing this Lease does so in reliance upon Tenant's representations, warranties, acknowledgments and agreements contained herein. Upon the expiration or earlier termination of this Lease, upon the election of Landlord, Tenant shall return the Area B Premises to Landlord in substantially the condition shown on EXHIBIT G, "Condition of Area B Upon Termination". Any alterations or improvements made by Tenant during the Term which are not shown on EXHIBIT G will be removed by Tenant at Tenant's sole cost prior to the Termination Date at Landlord's election.

Appears in 1 contract

Samples: Lease Agreement (SGX Pharmaceuticals, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall construct the Building in general conformance with the Construction Drawings dated August 5, 2005, prepared by Dxxxxx Gxxxxx Associates. Landlord shall have the right to modify such Construction Drawings in Landlord’s sole discretion; provided, however, that such modifications do not preclude or significantly restrict Tenant’s use of the Premises for the Permitted Use and further provided that Landlord shall notify Tenant of any material modifications to the Construction Drawings materially impacting Tenant’s use of the Premises for the Permitted Use. The Building shell shall include the items described on Exhibit H attached hereto. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days 6 months of the Target Commencement Date for any reason other than Force Majeure delays Delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and and, if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenants’ Work,” "Force Majeure Delays,” "Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 business days of the lapse of such 45 day 9 month period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Sirna Therapeutics Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver make the Premises vacant and available to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery,” “Deliver” or “DeliverDelivered”). Before entering the Premises to construct Tenant Improvements under the Work Letter, Tenant shall deliver to Landlord evidence of the insurance required hereby and by the Work Letter (collectively, the “Deliverables”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver deliver the Premises within 45 60 days of the Target Commencement Date for any reason (including Force Majeure Delays [as defined below]) other than Force Majeure delays and Tenant Delaysthe non-satisfaction of the Contingency (as defined in Section 2(c) [***] INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED. below), this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms Landlord’s Work,” “Tenant Force Majeure Delays” and “Substantially Completed” shall have the meanings set forth for such terms means delays arising by reason of any Force Majeure (as defined in the Work LetterSection 34). If Tenant does not elect to void so terminate this Lease within 10 business 20 days of the lapse of such 45 60 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything ; provided, however, that if Landlord Delivers the Premises within such 20 day period, Tenant’s election to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentenceshall automatically become null and void, Base Rent whereupon this Lease shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays remain in full force and Tenant Delays) that the Premises are not Delivered to Tenanteffect.

Appears in 1 contract

Samples: Lease Agreement (NextCure, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver make the Premises available to Tenant on or before the Target Commencement Date, with Landlordfor Tenant’s Work Substantially Completed under the Work Letter within 5 days of full execution of this Lease and Tenant’s delivery of evidence of the insurance required hereby (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms term Landlord’s Tenants’ Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings meaning set forth for such terms term in the Work Letter. If Tenant does not elect acknowledges and agrees that construction of the Tenant Improvements will be undertaken at the same time as Landlord is undertaking the construction of the Landlord’s Work (as defined in the Work Letter) and that the parties and their contractors will be required to void coordinate their work with one another (including, without limitation, work within the Premises) but in no event may Tenant or any Tenant Party (as defined below) delay or interfere with the performance of Landlord’s Work, nor with any inspections or issuance of final approvals by applicable Governmental Authorities (as defined below) nor cause an increase in the cost of the performance of Landlord’s Work. The “Commencement Date” shall be the earlier to occur of: (i) the date that the Tenant Improvements are Substantially Completed (as defined in the Work Letter); or (ii) December 31, 2014. The “Rent Commencement Date” shall be date that is 9 months after the Commencement Date. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease within 10 business days as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of the lapse of such 45 day period, such right to void this Lease shall be waived and the Base Term, as defined above on the first page of this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Extension Term which Tenant does not terminate this Lease may elect pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to TenantSection 40 hereof.

Appears in 1 contract

Samples: Lease Agreement (Receptos, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with LandlordXxxxxxxx’s Work Substantially Completed (“Delivery” or “Deliver”); provided, however, that the Target Commencement Date may be extended by Landlord up to 90 days in the event that there are delays outside of Landlord’s reasonable control due to the performance by third parties of critical redevelopment activities to the Project (including, without limitation, electrical upgrades to and environmental remediations of the Project) (“Redevelopment Delays”); it being acknowledged that Landlord may exercise such extension via one or more written notices to Tenant, in which case the Target Commencement Date shall be the date specified in such notice. Landlord will give Tenant written notice, in reasonable detail, within a reasonable period after learning of such Redevelopment Delays. If Landlord fails to timely Deliver the PremisesPremises by the Target Commencement Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays delays, Redevelopment Delays and Tenant Delays, then Tenant shall be entitled to a day for day abatement of Base Rent for each day for the period from and after the 91st day (or such later date after giving effect to Force Majeure delays, Redevelopment Delays, and Tenant Delays) until the earlier of the date that Landlord Delivers the Premises or 180 days after the Target Commencement Date. If Landlord does not Deliver the Premises within 180 days of the Target Commencement Date for any reason other than Force Majeure delays, Redevelopment Delays, and Tenant Delays, this Lease may be terminated by Tenant by written notice (given no later than 5 business days after the expiration of the 180 day period (as so extended) to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 180-day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained hereinherein and for the avoidance of any doubt, if the termination rights provided for in this paragraph shall terminate on the Commencement Date. The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant, (ii) the date Landlord could have Delivered the Premises but for Tenant does Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof (it being understood that the mere preparation of the Premises for its occupancy, moving into the Premises and the installation of furniture and equipment in the Premises shall not terminate be deemed to be the conduct of business by Tenant). Upon request of Landlord, Xxxxxx shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Xxxxxx’s failure to execute and deliver such acknowledgment shall not affect Landlord’s or Tenant’s rights hereunder (except those rights of Tenant affected by virtue of Tenant being in default). The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease, and (if and when exercised) the Extension Term that Tenant may elect pursuant to Section 40 hereof. Subject to the immediately preceding sentenceprovisions of Section 3 of the Work Letter, Base Rent Landlord shall permit Tenant access to the Premises at such time set forth in Section 3 of the Work Letter prior to the Commencement Date for Tenant’s installation and setup of furniture, fixtures and equipment (“FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord, and Tenant complies with the Lease and all other 321 Arsenal (AOTC) / Forma Therapeutics - Page 4 reasonable restrictions and conditions Landlord may impose in writing. All such access shall be abated 1 day during normal business hours unless Landlord otherwise agrees in writing (such agreement not to be unreasonably withheld, conditioned or delayed). Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent, Operating Expenses or any charges under Section 11 hereof for each day after such 45 day period Utilities or Janitorial Service. Except as set forth in the next paragraph or the Work Letter: (i) Tenant shall accept the Premises in their condition as extended by Force Majeure delays of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and Tenant Delays(iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Xxxxxx accepts the Premises and that the Premises were in the condition required to be delivered by Landlord hereunder, subject to Tenant’s rights under the Work Letter and Landlord’s ongoing repair and maintenance obligations hereunder. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Rent. Notwithstanding anything contained in this Lease to the contrary, and as set forth in the Work Letter, for the period of 60 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Landlord also shall use commercially reasonable efforts to enforce any contractor warranties for Landlord’s Work (to the extent any such warranties exist) for one (1) year after the Commencement Date, provided Xxxxxx gives written notice of any necessary repairs or replacements within such time that are reasonably expected to be covered under any such warranty, unless Tenant or any Tenant Party was responsible for the cause of such repair or replacement, in which case Tenant shall pay all of Landlord’s costs and expenses incurred to enforce any such warranties. Xxxxxx agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein. Landlord in executing this Lease does so in reliance upon Xxxxxx’s representations, warranties, acknowledgments and agreements contained herein; and Tenant in executing this Lease does so in reliance upon Xxxxxxxx’s agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Forma Therapeutics Holdings, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before in broom clean condition for Tenant’s performance of the Target Commencement Date, with Landlord’s Tenant Improvements under the Work Substantially Completed Letter (“Delivery” or “Deliver”)) on the Commencement Date. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Landlord shall use reasonable efforts to Substantially Complete Landlord’s Work on or before March 1, 2016. If Landlord fails Substantially Complete Landlord’s Work on or before March 1, 2016 (as such date may be extended for Force Majeure delays or delays caused by Tenant), the Rent Commencement Date shall be delayed 1 day for each day thereafter until Landlord Substantially Completes Landlord’s Work. If Landlord does not Deliver the Premises within 45 days of the Target Commencement Date for any reason other than Substantially Complete Landlord’s Work on or before July 1, 2016 (as such day may be extended by delays caused by Tenant but shall not be extended by Force Majeure delays and Tenant DelaysMajeure), this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not so elect to void terminate this Lease within 10 business days of the lapse of such 45 day periodon or before July 15, 2015, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything As used herein, the terms (i) “Tenant Improvements” shall have the meaning set forth for such term in the Work Letter, (ii) “Landlord’s Work” shall mean the renovations being performed by Landlord, at Landlord’s cost and expense, as of the date of this Lease to the contrary contained hereinentry lobby, if conference rooms, front restrooms, lobby stairs and break room, all as reasonably determined by Landlord, which Landlord’s Work shall be performed in accordance with the plans approved by Landlord and in accordance with Legal Requirements (as defined in Section 7 hereof), and (iii) “Substantially Completed,” with respect to Landlord’s Work, shall mean the substantial completion of Landlord’s Work in a good and workmanlike manner, subject to normal punch list items of a non-material nature. The “Commencement Date” shall be January 1, 2016. The “Rent Commencement Date” shall be the date that is 10 months after the Commencement Date. Upon the written request of Landlord or Tenant, Landlord and Tenant does not terminate shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date, the OPEX Commencement Date (as defined in Section 3(b) below), and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s or Landlord’s failure to execute and deliver such acknowledgment shall not affect the other party’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and the Extension Term which Tenant may elect pursuant to Section 40 hereof. Subject to the immediately preceding sentenceprovisions of Section 6 of the Work Letter, Landlord shall permit Tenant and Tenant’s representatives access to the Premises commencing on the day after the mutual execution and delivery of this Lease by the parties for the purpose of conducting design and engineering work in connection with the Tenant Improvements (“Design Activities”), provided that such Design Activities are coordinated with Landlord, and Tenant complies with this Lease (excluding the obligation to pay Base Rent and Operating Expenses) and all other reasonable restrictions and conditions Landlord may impose. All such access shall be abated 1 day for each day after such 45 day period during normal business hours. Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent or Operating Expenses. Prior to the Commencement Date, Landlord and Tenant shall conduct an inspection of the Building components and the Building Systems (as extended by Force Majeure delays defined in Section 13 hereof) at a time and date reasonably acceptable to Landlord and Tenant Delays) to confirm that the Premises Building components and the Building Systems are in normal operating condition. If, through such inspection, it is reasonably determined by Landlord and Tenant that a particular Building component or Building System is not Delivered then in normal operating condition, Landlord shall be responsible, at its sole cost and expense (which shall not constitute an Operating Expense), for any repairs that are required to Tenantbe made to such Building component or Building Systems to cause them to be in normal operating condition, which repairs shall be made within a reasonable period after the Commencement Date.

Appears in 1 contract

Samples: Lease Agreement (Alpha Healthcare Acquisition Corp.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant Building Shell on or before the Target Commencement Date, with Landlord’s Date in Tenant Improvement Work Substantially Completed Readiness Condition (“DeliveryDeliver” or “DeliverDelivery)) for Tenant’s construction of the Tenant’s Work. If Landlord fails to timely Deliver the PremisesBuilding Shell, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Notwithstanding anything to the contrary contained herein, if Landlord does not fails to Deliver the Premises within 45 Building Shell to Tenant by the date that is 270 days of after the Target Commencement Date (as such date may be extended for any reason other than Force Majeure delays (as defined in Section 34) and Tenant Delays), this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), ) shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “LandlordBuilding Shell,” “Tenant’s Work,” “Tenant Delays,and Substantially CompletedTenant Improvement Work Readiness Condition” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 270 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Arrowhead Pharmaceuticals, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date. Upon delivery to Tenant, with Landlord’s Work shall be Substantially Completed and the parking structure serving the Project in the location shown on Exhibit B will be substantially complete and available for Tenant’s use (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 270 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Net Laboratory 3013 Science Park/The Medicines Company - Page 25 Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease and Landlord will return any amounts paid to Landlord by Tenant pursuant to the terms of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 270 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect; provided that Tenant will have a second right to terminate this Lease in the event Landlord has still not Delivered the Premises within 365 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, which right will be exercisable for a period of 10 business days after such 365 day period. The “Commencement Date” shall be the earlier of: (i) the date Landlord Delivers the Premises to Tenant; or (ii) the date Landlord could have Delivered the Premises but for Tenant Delays. Notwithstanding anything to the contrary contained hereinin this Lease, if but provided Tenant does is not terminate this Lease pursuant in Default hereunder, Landlord hereby grants Tenant an abatement of the Base Rent payable during the period beginning on the Commencement Date and ending 10 months after the Commencement Date (“Base Rent Abatement”). Subject to the immediately preceding sentenceterms of Section 3(a) below, Base Rent the first day of the 11th month after the Commencement Date shall be abated 1 day for each day the “Rent Commencement Date.” In the event Landlord Delivers the Premises to Tenant more than 180 days after such 45 day period the Target Commencement Date (as extended by for Force Majeure delays and Tenant Delays), the period of Base Rent Abatement and the Rent Commencement Date (and all subsequent rent increase dates) will be extended by an equivalent number of days that Delivery is delayed beyond the Target Commencement Date. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Terms which Tenant may elect pursuant to Section 39 hereof. Except as set forth in the Work Letter or otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date with all Landlord’s Work Substantially Complete; (ii) Landlord shall have no liability for any defects in the Premises, except as set forth herein or in the Work Letter; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. Tenant will not be permitted occupancy of the Premises prior to the date upon which the Premises are Delivered to Tenant with Landlord’s Work Substantially Completed. Except as otherwise expressly set forth in this Lease (including the Work Letter), Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease (including all exhibits attached hereto and any side letters entered into by and between Landlord and Tenant in connection with this Lease) constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein.

Appears in 1 contract

Samples: Lease Agreement

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Delivery Date, with Landlord’s 's Work Substantially Completed Completed. (“Delivery” such delivery of the Premises being referred to herein as "DELIVERY" or “Deliver”"DELIVER"). If Landlord shall endeavor to give at least fourteen (14) days advance notice of the date by which the Premises will be delivered in the condition required above, and from and after such notice, provided Tenant has provided a certificate of insurance, indicating that Tenant has obtained insurance of the types and in the amounts required to be maintained by Tenant pursuance to Section 17 hereof, Tenant shall have access to the Premises in order to prepare the same for its use and occupancy. Such early entry shall be subject to all the terms and conditions of this Lease, other than the payment of Rent and other charges due hereunder. The date on which such occupancy begins shall be referred to herein as the "EARLY OCCUPANCY DATE". The period between the Early Occupancy Date and the Rent Commencement Date is referred to herein as the "EARLY OCCUPANCY PERIOD". Except as specifically provided herein, if Landlord fails to timely Deliver the PremisesPremises on or before the Target Delivery Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided hereinvoidable. If Landlord does not Deliver the Premises within 45 60 days of after the Target Commencement Delivery Date for any reason other than Force Majeure delays Delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e.ie., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. If the Rent Commencement Date is delayed beyond the Target Delivery Date as a result of Tenant Delays, then the Target Delivery Date shall be deemed to be the Rent Commencement Date. As used herein, the terms “Landlord’s Work"LANDLORD'S WORK,” “Tenant Delays” " "TENANT DELAYS" and “Substantially Completed” "SUBSTANTIALLY COMPLETED" shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Critical Therapeutics Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (such delivery with Landlord’s Work Substantially Completed shall be referred to as “Delivery” or “Deliver”). Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant (i) on or before the date that is 30 days after the Target Commencement Date (as such date may be extended for Force Majeure delays and Tenant Delays) (“Initial Abatement Date”), Base Rent shall be abated 1 day for each day after the Initial Abatement Date (as such date may be extended for Force Majeure delays and Tenant Delays) that Landlord fails to Deliver the Premises to Tenant, and (ii) on or before the date that is 60 days after the Target Commencement Date (as such date may be extended for Force Majeure delays and Tenant Delays) (“Second Abatement Date”), Base Rent shall be abated 2 days for each day after the Second Abatement Date (as such date may be extended for Force Majeure delays and Tenant Delays) that Landlord fails to Deliver the Premises to Tenant. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Work,”“Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void terminate this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Metabolix, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to deliver the Premises to Tenant (i) by the date that is 30 days after the Target Commencement Date (as such date may be extended for Force Majeure (as defined in Section 34) delays) (the “Initial Abatement Date”), Base Rent shall be abated 1 day for each day after the Initial Abatement Date (as such date may be amended for Force Majeure delays) through the Second Abatement Date that Landlord fails to deliver the Premises to Tenant, and (ii) by the date that is 90 days after the Target Commencement Date (as such date may be extended for Force Majeure delays) (the “Second Abatement Date”), Base Rent shall be abated 2 days for each day after the Second Abatement Date (as such date may be amended for Force Majeure delays) that Landlord fails to deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 180 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by TenantTxxxxx: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 180 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (GreenLight Biosciences Holdings, PBC)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on for Tenant's Work under the Work Letter within 5 days of full execution of this Lease and Tenant's delivery of evidence of the insurance required hereby and by the Work Letter ("DELIVERY" or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”"DELIVER"). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 15 days after full execution of this Lease and the Target Commencement Date delivery of Tenant's insurance certificates to Landlord for any reason other than Force Majeure delays and Tenant Delaysreason, this Lease may shall be terminated voidable by Tenant by written notice to Landlord. If Landlord is unable despite the exercise of reasonable efforts to Deliver the Premises within 60 days after full execution of this Lease and the delivery of Tenant's insurance certificates to Landlord, and if this Lease shall be voidable by Landlord by written notice to Tenant. If this Lease is so terminated voided by Tenanteither: (a) so long as Tenant is not in default hereunder, the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), Deposit shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used hereinIf neither Landlord nor Tenant voids this Lease as described above, the terms “Landlord’s Work,” “Tenant Delays” this Lease shall remain in full force and “Substantially Completed” shall have the meanings set forth for such terms in the Work Lettereffect. If Tenant does not elect neither party elects to void this Lease within 10 5 business days of the lapse of such 45 day the applicable time period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenantwaived.

Appears in 1 contract

Samples: Lease Agreement (Xcyte Therapies Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work the Tenant Improvements in the Premises Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. Notwithstanding anything to the contrary contained herein, if Landlord fails to Deliver the Premises to Tenant on or before the date that is 90 days after the Target Commencement Date (as such date may be extended for Force Majeure (as defined in Section 34) and Tenant Delays, the “Abatement Date”), then, commencing immediately following the Abatement Period (as defined below), Base Rent shall be abated 1 day for each day from and including the Abatement Date (as such date may be extended for Force Majeure and Tenant Delays) that Landlord fails to Deliver the Premises to Tenant. If Landlord does not Deliver the Premises within 45 150 days of the Target Commencement Date for any reason other than Force Majeure delays and or Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s WorkTenant Improvements,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 150 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything the foregoing, Landlord and Tenant agree that if any Governmental Authority having jurisdiction of the Project, as a result of the COVID-19 outbreak in the United States declares or implements any order or mandate that restricts construction activities in San Mateo county (any such order or mandate, a “Government Mandate”), then, to the contrary contained hereinextent such Government Mandate precludes 739171641.8 Net Multi-Tenant Laboratory 825 Industrial/Suites 100A & 200B/Codexis - Page 3 construction of Landlord’s Work, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent Target Commencement Date shall be abated delayed 1 day for each day after that such 45 day period (as extended by Force Majeure delays a Government Mandate remains in effect and continues to preclude such construction of Landlord’s Work. Landlord and Tenant Delaysfurther acknowledge and agree that (i) as of the date of this Lease, the City of San Xxxxxx (the “City”) is routinely taking longer to issue the permits and approvals (collectively, “Permits”) required for the design and construction of Landlord’s Work than the timeframes contemplated by Landlord in the development of the schedule for the completion of Landlord’s Work as reflected in the Schedule attached to the Work Letter as Schedule 3 (the “Standard Issuance Period”), and (ii) to the extent the issuance of any Permits required for the design and/or construction of Landlord’s Work is delayed beyond the Standard Issuance Period (except for delays due to Landlord’s failure to timely provide the City with information requested from Landlord by the City (except to the extent that such delays arise due to Tenant’s failure to provide Landlord information requested from Tenant by Landlord)), then the Target Commencement Date shall be delayed 1 day for each day following the expiration of the Standard Issuance Period that the Premises City fails to issue any such Permits (through and including the date that such Permits are not Delivered to Tenantissued by the City).

Appears in 1 contract

Samples: Lease Agreement (Codexis, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant for the conduct of Tenant's business on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery” or “Deliver”). If Landlord fails to timely so Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not may be void terminated by Landlord or voidable except as provided herein. If Landlord does not Deliver Tenant by facsimile notice to the Premises other within 45 10 business days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to LandlordDate, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., i.e. after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms The Landlord’s Work,” “Tenant Delays” and “Substantially CompletedCommencement Date” shall have be the meanings set forth for such terms in date on which Landlord Delivers the Work LetterPremises to Tenant. If Tenant does not elect to void this Lease within 10 business days The “Rent Commencement Date” shall be February 1, 2007. The “Term” of the lapse of such 45 day period, such right to void this Lease shall be waived and the Base Term described on page 1 of this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained hereinand, if applicable, the Extension Term (as hereinafter defined) that Tenant does not terminate may elect pursuant to Section 35 hereof. Upon request of Landlord. Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease pursuant as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord's rights hereunder. #4262661_v3 Short Form 3N Laboratory Lease 00000 Xxxxx Xxxxxx Xxxxx Road/Forbes Medi-Tech — Page 2 Effective as of the immediately preceding sentenceCommencement Date: (i) Tenant shall accept the Premises in their condition as of such date, Base Rent subject to all applicable Legal Requirements (as defined in Section 6 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant's taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time of Delivery. Landlord shall (i) install and provide certain office furniture to be used in the office area of the Premises, which office furniture is currently located in Suite 120 at 0000 Xxxxx Xxxxxx Xxxxx, Xxx Xxxxx, Xxxxxxxxxx, and (ii) permit Tenant to use the existing cubicles located in the laboratory area of the Premises (collectively, the “Landlord Personal Property”). Tenant shall be required to return the Landlord Personal Property, at the expiration or earlier termination of the Term, in the same condition as received, except for ordinary wear and tear. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises, the Project or the Landlord Personal Property, and/or the suitability of the Premises, the Project or the Landlord Personal Property for the conduct of Tenant's business, and Tenant waives any implied warranty that the Premises, the Project or the Landlord Personal Property are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to Tenantcontained herein.

Appears in 1 contract

Samples: Lease Agreement (Forbes Medi-Tech Inc.)

Delivery; Acceptance of Premises; Commencement Date. The “Commencement Date” shall be the date that is 1 business day after the mutual execution and delivery of this Lease by the parties. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”) on the Commencement Date for Tenant’s construction of the Tenant Improvements pursuant to the work letter attached hereto as Exhibit C (the “Work Letter”) in Tenant Improvement Work Readiness Condition. The “Rent Commencement Date” shall be the earlier to occur of (i) the date that is 12 months after the Commencement Date, or (ii) the date that the Tenant Improvements are Substantially Completed (as defined in the Work Letter); provided, however, that the Rent Commencement Date shall be delayed (x) 1 day for each calendar day after the Commencement Date that a Government Mandate (as defined below) is in effect to the extent that such Government Mandate precludes the construction of Tenant Improvements, plus an additional 7 calendar days commencing on the date such Governmental Mandate expires or is terminated (provided that such 7 calendar day period shall be reduced if Tenant resumes construction of the Tenant Improvements prior to the expiration of such 7 calendar day period) or (y) 1 day for each calendar day after the Commencement Date of Landlord Delay (as defined in the Work Letter). If Landlord fails Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date, the Rent Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to timely Deliver the Premisesthis Lease as Exhibit D; provided, Landlord however, Tenant’s failure to execute and deliver such acknowledgment shall not be liable to Tenant for any loss or damage resulting therefrom, and affect Landlord’s rights hereunder. The “Term” of this Lease shall not be void or voidable except the Base Term, as provided herein. If Landlord does not Deliver defined above on the Premises within 45 days first page of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease and any Extension Terms which Tenant may be terminated by Tenant by written notice elect pursuant to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this LeaseSection 39 hereof. As used herein, the terms Landlord’s Work,” “Tenant Delays” and “Substantially CompletedGovernment Mandate” shall have mean the meanings declaration or implementation by any Governmental Authority having jurisdiction over the Project, resulting from the COVID-19 outbreak in the United States, of any order or mandate that restricts construction activities in San Mateo County to the extent such Government Mandate precludes the construction of the Tenant Improvements. Except as set forth for such terms in the Work Letter. If Letter or as otherwise expressly set forth in this Lease: (i) Tenant does not elect to void this Lease within 10 business days shall accept the Premises in their condition as of the lapse Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent and Operating Expenses. For the period of 180 consecutive days after the Rent Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined in Section 13) serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such 45 day periodrepair, such right to void this Lease in which case Tenant shall be waived pay the cost. Tenant agrees and this Lease shall remain in full force and effect. Notwithstanding anything acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the contrary contained hereincondition of all or any portion of the Premises or the Project, if Tenant does not terminate this Lease pursuant to and/or the immediately preceding sentencesuitability of the Premises or the Project for the conduct of Tenant’s business, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. Landlord represents and warrants that the person signing this Lease on behalf of Landlord is duly authorized to execute and deliver this Lease on behalf of Landlord as a legally binding contract of Landlord. Tenant represents and warrants that the person signing this Lease on behalf of Tenant is duly authorized to execute and deliver this Lease on behalf of Tenant as a legally binding contract of Tenant. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Vaxcyte, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Tl Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than delays due to Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, ; and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “TI Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. “Force Majeure” shall have the meaning set forth in Section 34 of this Lease. If Tenant does not elect to void terminate this Lease within 10 5 business days of the lapse of such 45 120 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Relay Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with LandlordXxxxxxxx’s Work Substantially Completed (“Delivery” or “Deliver”). Landlord shall Deliver the Premises to Tenant upon Substantial Completion of the Tenant Improvements. If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided hereinvoidable. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than Force Majeure (as defined in Section 34) delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security DepositXxxxxx, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 120 day period, period (as extended by Force Majeure delays and Tenant Delays) such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything 3565 General Atomics – Suite 200&100A/Pipeline Tx - Page 3 The “Commencement Date” shall be the earlier of: (i) the date Landlord Delivers the Premises to Tenant; and (ii) the date Landlord could have Delivered the Premises but for Tenant Delays. Upon request of Landlord or Tenant, the parties shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, either party’s failure to execute and deliver such acknowledgment shall not affect either party’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined in the Basic Lease Provisions and the Extension Term which Tenant may exercise pursuant to Section 40 of this Lease. Subject to the contrary contained hereinprovisions of Section 6 of the Work Letter, if provided that Tenant has delivered a certificate of insurance reflecting the insurance coverage required to be maintained by Tenant under Section 17, Landlord shall permit Tenant access to the Premises for a period of up to 45 days prior to the Commencement Date for Tenant’s installation and setup of furniture, fixtures and equipment (which shall include, without limitation, Tenant’s installation of low voltage cabling and Tenant’s Security System (as defined below) within the Premises) (“FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord and does not terminate interfere with or delay Landlord’s construction of Landlord’s Work, and Tenant complies with the terms of this Lease pursuant and all other reasonable restrictions and conditions Landlord may impose. All such access shall be during normal business hours. Any access to the immediately preceding sentence, Base Rent Premises by Tenant before the Commencement Date shall be abated subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent, Operating Expenses or Utilities (as defined below). During the Lease Term, Tenant shall have the right to use all of the furniture, fixtures and equipment located within the Premises (the “Existing FF&E”) identified in further detail on Exhibit K-1 attached hereto, at no additional cost or expense to Tenant. For the avoidance of doubt, prior to the Commencement Date, Landlord shall remove from the Premises all of the furniture, fixtures and equipment (i) identified on Exhibit K-2 attached hereto (the “Removable FF&E List”) and, to the extent not duplicative of the foregoing, (ii) identified in red on the space plan attached hereto as Exhibit K-3 (“Removable FF&E Space Plan”). Tenant shall have no right to remove any of the Existing FF&E from the Premises without Landlord’s prior written consent and the Existing FF&E shall be returned to Landlord at the expiration or earlier termination of the Term in its the same condition as received, subject to ordinary wear and tear. Following the Commencement Date, Landlord will remove, at Tenant’s sole cost and expense, all Existing FF&E that the Tenant identifies as not needed by Tenant by written notice thereof to Landlord, and Landlord shall remove such identified Existing FF&E from the Premises within a reasonable time period thereafter. Landlord and Tenant acknowledge and agree that (i) as of the date of this Lease there exist significant global supply chain delays and shortages of construction materials, supplies and equipment (collectively, “Supply Chain Delays”), (ii) the availability of fixtures, equipment and/or materials required for the performance and/or Substantial Completion of the Tenant Improvements (collectively, “Required Materials”), may be subject to longer lead times than normally anticipated due to such Supply Chain Delays, (iii) the unavailability or delayed delivery of Required Materials may result in disruption to progress of the construction of the Tenant Improvements in the ordinary course, and (iv) the Substantial Completion of the Tenant Improvements may be delayed resulting directly or indirectly from the unavailability or delayed delivery of Required Materials. Landlord shall notify Tenant in writing of any Supply Chain Delays that may result in any delay in the substantial completion of the Tenant Improvements at the time Landlord is notified or made aware of such Supply Chain Delays and shall provide Tenant with a written estimate of the expected delay. Landlord shall use commercially reasonable efforts to mitigate the impacts of such Supply Chain Delays; provided, however, that Landlord shall not be required to incur any additional cost or expense in connection with such mitigation. Landlord and Tenant further acknowledge and agree that (i) as of the date of this Lease, the City of San Diego (the “City”) is routinely taking longer to issue the permits and approvals (collectively, “Permits”) required for the design and construction of Improvements than the timeframes contemplated by Landlord in the development of the schedule for the completion of Improvements (the “Standard Issuance Period”), and (ii) to the extent the issuance of any Permits required for the design and/or construction of Improvements is delayed beyond the Standard Issuance Period (except for delays due to Landlord’s failure to timely provide the City with information requested from Landlord by the City (except to the extent that such delays arise due to Tenant’s failure to provide Landlord information requested from Tenant by Landlord)), then the Target Commencement Date shall be delayed 1 day for each day after following the expiration of the Standard Issuance Period that the City fails to issue any such 45 day period Permits (through and including the date that such Permits are issued by the City). Landlord shall use commercially reasonable efforts to mitigate the impacts of any Permit Delays; provided, however, that Landlord shall not be required to incur any additional cost or expense in connection with such mitigation. Except as extended by Force Majeure delays set forth in the Work Letter: (A) Tenant shall accept the Premises in their condition as of the Commencement Date; (B) Landlord shall have no obligation for any defects in the Premises; and Tenant Delays(C) Tenant’s taking possession of the Premises shall be conclusive evidence that Xxxxxx accepts the Premises and that the Premises were in good condition at the time possession was taken. Notwithstanding the foregoing, nothing in this paragraph shall limit Landlord’s repair and maintenance obligations under Section 13 of the Lease. Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems (as defined in Section 13) serving the Premises of which Tenant notifies Landlord in writing within 90 calendar days after the Commencement Date, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost Tenant agrees and acknowledges that, except as otherwise expressly set forth in this Lease (including the Work Letter), neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises, the Property or the Project, and/or the suitability of the Premises, the Property or the Project for the conduct of Xxxxxx’s business, and Tenant waives any implied warranty that the Premises, the Property or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations that are not Delivered to Tenantcontained herein. Landlord in executing this Lease does so in reliance upon Xxxxxx’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Contineum Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant for the conduct of Tenant's business on or before the Target Commencement Date, with Landlord’s Work Substantially Completed 's Work, if any, substantially completed and the Premises fully decommissioned and thoroughly cleaned with all base building and lab-specific mechanical, electrical and plumbing systems in good operating condition and repair, and any scored floor tile replaced ("Delivery" or "Deliver"). If Landlord fails to timely so Deliver the PremisesPremises on the Target Commencement Date, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver Notwithstanding the Premises within 45 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysforegoing, this Lease may be terminated by Landlord or Tenant by written facsimile notice to the other if Landlord's Work (with the exception of the Cold Room to be installed in specialty lab 106 of the Biology Suite [the "Cold Room"]) is not complete and the Premises Delivered on or before October 1, 2005, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease. Landlord shall have until October 31, except 2005, to complete and Deliver the Cold Room. If the Cold Room is not completed on or before October 31, 2005, the parties shall have the same rights as set forth in this paragraph with respect to provisions which expressly survive termination the remainder of the Premises. The Term of this LeaseLease shall commence on the later of (a) August 1, 2005, and (b) the date on which Landlord shall have completed the following: (i) the cleaning/decommissioning of the Premises, (ii) the completion of Landlord's Work (as defined below), and (iii) the receipt of a certificate of occupancy and other such permits required for Tenant to utilize the Premises for the Permitted Use (to the extent Landlord, and not Tenant, is responsible for obtaining any such permits other than the certificate of occupancy) (the "Commencement Date"). As used herein, the terms “Landlord’s Work,” “Landlord and Tenant Delays” and “Substantially Completed” agree that Tenant shall have the meanings set forth right to occupy the Chemistry Suite and any portion of the Biology Suite for which all necessary permits (including a certificate of occupancy) have been obtained as soon as such terms portions of the Premises are ready for occupancy as described in this Section 2, even if the Cold Room and related plumbing or wiring is not yet complete as of such date. In such case, as of the date (the "Early Occupancy Date") on which Tenant occupies some or all of the Premises for the conduct of its business, notwithstanding any delay in delivery of the Cold Room or related plumbing or wiring as aforesaid, Tenant shall commence paying a proportionate share of Base Rent and Tenant's Share of Operating Expenses, such proportionate share to be calculated based on the ratio of the number of rentable square feet occupied by Tenant to the number of rentable square feet in the Work LetterPremises. If Tenant does not elect takes possession of the Premises prior to void the Commencement Date as aforesaid, Tenant shall immediately commence payment of the full Science Hotel® Services Fee as of the Early Occupancy Date, with no reduction. The period between the Early Occupancy Date and the Commencement Date shall be referred to herein as the "Early Occupancy Period". Tenant's right to occupy such portion of the Premises during the Early Occupancy Period shall be subject to all of the terms and conditions of this Lease within 10 business days (including, without limitation, those relating to Tenant's insurance and indemnity obligations hereunder). The "Term" of the lapse of such 45 day period, such right to void this Lease shall be waived the period commencing on the first day of the month after the month in which the Commencement Date occurs and expiring on the date which is two (2) years after such date. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the "Acknowledgement of Commencement Date" attached to this Lease as Exhibit C; provided, however, Tenant's failure to execute and deliver such acknowledgment shall remain not affect Landlord's rights hereunder. Following execution and delivery of the Lease and continuing through the Commencement Date, Landlord shall provide adequate office space in full force the Building for four (4) employees of Tenant at no charge to Tenant. Such space shall be used by Tenant's employees for office purposes only. Tenant's right to occupy such office space shall be subject to all of the terms and effect. Notwithstanding anything conditions of this Lease (including, without limitation, those relating to Tenant's insurance and indemnity obligations) other than the provisions relating to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, payment of Base Rent and Additional Rent. Subject to Landlord's obligation to Deliver the Premises, effective as of the Commencement Date, and the other provisions of this Section 2: (i) Tenant shall accept the Premises in their condition as of such date, subject to all applicable Legal Requirements (as defined in Section 9 hereof); (ii) subject to Landlord's obligation to maintain all of the Project and the Premises as set forth in Section 14 hereof, Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant's taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises are not Delivered to Tenantwere in good condition at the time of Delivery.

Appears in 1 contract

Samples: Lease Agreement (Sirtris Pharmaceuticals, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target The “Commencement Date” shall be the earlier to occur of (i) December 1, with 2014, or (ii) the day after the termination of the Fxxx Xxxxxxxxxx Lease (as defined below), if the Fxxx Xxxxxxxxxx Lease terminates prior to November 30, 2014. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s Work Substantially Completed (rights hereunder. The DeliveryTermor “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and of this Lease shall not be void or voidable except the Base Term, as provided herein. If Landlord does not Deliver defined above on the Premises within 45 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination first page of this Lease. As used hereinNet Multi-Tenant Laboratory 1616 Eastlake/Atossa - Page 2 Landlord and Tenant acknowledge and agree that, as of the date hereof, the terms Premises is currently subject to that certain Lease Agreement now between Landlord and Fxxx Xxxxxxxxxx Cancer Research Center, a Washington non-profit corporation (Landlord’s Work,” Fxxx Xxxxxxxxxx”), dated January 16, 2004 (as the same has been and may in the future may be amended, the Fxxx Xxxxxxxxxx Lease”). Tenant Delays” agrees that Landlord has no obligation under this Lease prior to the Commencement Date. As of the date of this Lease, Tenant occupies the Premises pursuant to that certain Sublease Agreement between Fxxx Xxxxxxxxxx and Tenant dated as of December 9, 2011 (as the same has been and may in the future be amended, the Substantially Completed” Fxxx Xxxxxxxxxx Sublease”). Except as otherwise expressly set forth in this Lease: (i) Landlord shall have the meanings set forth no obligation for such terms any defects in the Work Letter. If Tenant does not elect to void this Lease within 10 business days Premises; and (ii) Tenant’s occupancy of the lapse of such 45 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease Premises pursuant to the immediately preceding sentence, Base Rent terms of the Fxxx Xxxxxxxxxx Sublease shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises in its “as-is” condition and Tenant Delays) that the Premises are in good condition. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Atossa Genetics Inc)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver make the Premises vacant and available to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Date (“Delivery,” “Deliver” or “DeliverDelivered”). Before entering the Premises to construct Tenant Improvements under the Work Letter, Tenant shall deliver to Landlord evidence of the insurance required hereby and by the Work Letter (collectively, the “Deliverables”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver deliver the Premises within 45 60 days of the Target Commencement Date for any reason (including Force Majeure Delays [as defined below]) other than Force Majeure delays and Tenant Delaysthe non-satisfaction of the Contingency (as defined in Section 2(c) below), this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms Landlord’s Work,” “Tenant Force Majeure Delays” and “Substantially Completed” shall have the meanings set forth for such terms means delays arising by reason of any Force Majeure (as defined in the Work LetterSection 34). If Tenant does not elect to void so terminate this Lease within 10 business 20 days of the lapse of such 45 60 day period, such right to void terminate this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything ; provided, however, that if Landlord Delivers the Premises within such 20 day period, Tenant’s election to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentenceshall automatically become null and void, Base Rent whereupon this Lease shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays remain in full force and Tenant Delays) that the Premises are not Delivered to Tenanteffect.

Appears in 1 contract

Samples: Lease Agreement (NextCure, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, Date with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure (as defined in Section 34) delays and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), and any prepaid Base Rent, shall be promptly returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If neither Landlord nor Tenant does not elect elects to void this Lease within 10 5 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Landlord and Tenant acknowledge and agree that, as of the date of this Lease, a global pandemic has been declared with respect to COVID-19 (which is a Force Majeure event) which may delay Landlord’s Delivery of the Premises. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent Target Commencement Date shall be abated extended 1 day for each day after the Landlord’s design and/or construction of Landlord’s Work is delayed due to COVID-19 related delays. The “Commencement Date” shall be the earlier of: (i) the date Landlord Delivers the Premises to Tenant with Landlord’s Work Substantially Completed; and (ii) the date Landlord could have Delivered the Premises but for Tenant Delays. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease. Subject to the provisions of Section 6 of the Work Letter, Landlord shall permit Tenant access to the Premises for a period of up to 45 day period days prior to the Commencement Date for Tenant’s installation and setup of furniture, fixtures and equipment and Tenant’s installation of cabling (as extended by Force Majeure delays collectively, “FF&E Installation”), provided that such FF&E Installation is coordinated with Landlord, and Tenant Delayscomplies with this Lease and all other reasonable restrictions and conditions Landlord may impose. All such access shall be during normal business hours. Any access to the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, excluding the obligation to pay Base Rent or Operating Expenses. Except as set forth in the Work Letter or as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. For the period of 30 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems serving the Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant shall also be entitled to the benefit of any warranties issued to Landlord in connection with Landlord’s Work. Nothing in this paragraph shall limit Landlord’s maintenance and repair obligations under Section 13 of this Lease. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Avidity Biosciences, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises (“Delivery” or “Deliver”) to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 90 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delaysdelays, this Lease may be terminated by Landlord or Tenant by written notice to Landlordthe other, and if so terminated by Tenanteither: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “If neither Landlord nor Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect elects to void this Lease within 10 business days of the lapse of such 45 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. The “Commencement Date” shall be the date Landlord Delivers the Premises to Tenant. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided, however, failure to execute and deliver such acknowledgment shall not affect either party’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and the Extension Term which Tenant may elect pursuant to Section 39 hereof. Except as otherwise expressly set forth in this Lease: (i) Tenant shall accept the Premises in their condition as of the Commencement Date; (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease, including the obligation to pay Base Rent and Operating Expenses. For the period of 90 consecutive days after the Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13), unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost Notwithstanding anything to the contrary contained hereinin this Lease, if Tenant does and Landlord acknowledge and agree that the effectiveness of this Lease shall be subject to the following condition precedent (“Condition Precedent”) having been satisfied: Landlord shall have entered into a lease termination agreement with respect to the Premises (“Termination Agreement”) with the existing tenant of the Premises which Termination Agreement shall be on terms and conditions acceptable to Landlord, in Landlord’s sole and absolute discretion, but the prior tenant shall nonetheless be required under its lease to complete a surrender of the Premises pursuant to a provision comparable to Section 28 of this Lease. In the event that the Condition Precedent is not satisfied by February 1, 2019, either Landlord or Tenant shall have the right to terminate this Lease pursuant upon delivery of written notice to the immediately preceding sentenceother. Landlord shall have no liability whatsoever to Tenant relating to or arising from Landlord’s inability or failure to cause the Condition Precedent to be satisfied. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, Base Rent shall be abated 1 day and/or the suitability of the Premises or the Project for each day after such 45 day period (as extended by Force Majeure delays the conduct of Tenant’s business, and Tenant Delays) waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Millendo Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Work, if any, Substantially Completed (“DeliveryDelivery Date” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than delays resulting from Force Majeure delays (as defined in Section 34) and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenantterminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenants’ Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 business days of the lapse of such 45 120 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything The “Commencement Date” shall be the earliest of: (i) the Delivery Date; (ii) the date that would have been the Delivery Date but for Tenant Delays; and (iii) the date Tenant occupies the Premises or any part thereof for the conduct of business. Upon request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Commencement Date and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to the contrary contained herein, if Tenant does not terminate this Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease and any Extension Term which Tenant may elect pursuant to Section 40 hereof. Except as set forth in the immediately preceding sentenceWork Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, Base Rent subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays conclusive evidence that Tenant accepts the Premises and Tenant Delays) that the Premises were in good condition at the time possession was taken. Any occupancy of the Premises by Tenant before the Commencement Date shall be subject to all of the terms and conditions of this Lease. Tenant shall notify Landlord of any Construction Defects in the Tenant Improvements within 1 year after Substantial Completion of the Tenant Improvements and Landlord shall be responsible for the same as provided for in Work Letter. In addition, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible (i) during the 60 consecutive day period after the Commencement Date for any repairs that are required to be made to the Building or Building Systems (as defined in Section 13) and (ii) during the 180 consecutive day period after the Commencement Date for any repairs to the HVAC system, unless in either case Tenant was responsible for the cause of such repair, in which case Tenant shall pay the cost. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations which are not Delivered to contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein.

Appears in 1 contract

Samples: Lease Agreement (Poniard Pharmaceuticals, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 120 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenant: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, (b) any prepaid Base Rent actually delivered by Tenant to Landlord shall be returned to Tenant, and (bc) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work Letter. If Tenant does not elect to void this Lease within 10 5 business days of the lapse of such 45 120 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Vividion Therapeutics, Inc.)

Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant on or before the Target Commencement Date, with Landlord’s Work Substantially Completed Complete (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 45 20 days of the Target Commencement Date for any reason other than Force Majeure delays and Tenant Delays, this Lease may be terminated by Tenant by written notice to Landlord, and if so terminated by Tenantterminated: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly survive termination of this Lease. As used herein, the terms (i) “Landlord’s Work,means the work to the Premises to be performed by Landlord described on Exhibit C, (ii) Tenant Force Majeure Delays” means delays arising by reason of any Force Majeure (as defined in Section 34), and (iii) “Substantially Completed” shall have or “Substantially Complete” means the meanings set forth for such terms substantial completion of Landlord’s Work (A) in a good and workmanlike manner, (B) in accordance with the Work Letterrequirements described in Exhibit C, and (C) in accordance with all applicable Legal Requirements (as defined in Section 7 hereof), subject only to normal “punch list” items that do not materially impair Tenant’s use and enjoyment of the Premises. If Tenant does shall not elect to void this Lease within 10 5 business days of the lapse of such 45 20 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect. Notwithstanding anything to the contrary contained herein, if Tenant does not terminate this Lease pursuant to the immediately preceding sentence, Base Rent shall be abated 1 day for each day after such 45 day period (as extended by Force Majeure delays and Tenant Delays) that the Premises are not Delivered to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Genvec Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.