Common use of Existing Lease Clause in Contracts

Existing Lease. Lessee is currently occupying other space in the building pursuant to a lease between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the owner of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that the Existing Lease and the respective rights and obligations of the parties thereunder shall continue in full force and effect upon all of its terms and conditions (except as to its expiration date) until the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date of the initial term of this lease (or, if this lease is for any reason terminated prior to the Commencement Date, the Existing Lease shall automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease through the date of such termination and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no obligation to (a) restore or repair the premises demised pursuant to the Existing Lease at the termination thereof, (b) remove the vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of this lease.

Appears in 1 contract

Samples: Lease (United Bancshares Inc /Pa)

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Existing Lease. Lessee is The parties acknowledge that Landlord currently occupying other space leases to Tenant and Tenant currently leases from Landlord Suite 1200 and Suite 2700 in the building Tower (the “Existing Premises”) and Suite 2510 in the Tower (the “25th Floor Space”) pursuant to a lease between Penn Center Plaza No. Twothat certain Office Lease Agreement dated May 30, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the owner of the building2006, as landlordamended by First Amendment to Lease dated January 15, and Home Unity Savings & Loan Association2007, as tenant, by Second Amendment to Lease dated February 1327, 19862007, by Third Amendment to Lease dated as thereafter amended of May 5, 2008 and by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective . Effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that the Existing Lease and the respective rights and obligations of the parties thereunder shall continue in full force and effect upon all of its terms and conditions date which is sixty (except as to its expiration date60) until days after the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date under this Lease, Tenant’s lease of the initial term of this lease (or, if this lease is for any reason terminated prior to the Commencement Date, Existing Premises under the Existing Lease shall automatically terminate on the later and shall be of no further force or effect (except for those provisions of the date on which this lease terminates Existing Lease which, by their terms, expressly survive the expiration or February 28, 1994), except for liabilities accrued to the date earlier termination of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease). The period from the Commencement Date under this Lease through the date of such termination and Lessee's obligation which is sixty (60) days thereafter may be referred to surrender herein as the premises demised by “Moving Period”. However, notwithstanding anything to the contrary contained in the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixturesLease, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (aas those terms are defined in the Existing Lease) for the Existing Premises pursuant to the Existing -41- Lease attributable to such sixty (60) day Moving Period. Should Tenant fail to vacate the Existing Premises and surrender the Existing Premises to Landlord on or before the expiration of the Moving Period, the holdover provisions of the Existing Lease shall apply. Notwithstanding anything to the contrary contained in the Existing Lease, Tenant need not restore the Existing Premises to its original condition or repair remove any improvements from the premises demised Existing Premises; provided, however, that Tenant shall be required to remove all furniture, equipment and personal property from the Existing Premises and to remove cabling from the Existing Premises so designated for removal (to the applicable telephone closet(s)) by Landlord and shall return such space to Landlord in broom-clean condition. The parties acknowledge that Tenant’s lease of the 25th Floor Space pursuant to the Existing Lease at shall not be terminated under this Section 35(a) and Tenant’s lease of the termination thereof25th Floor Space shall continue as provided in the Fourth Amendment to Lease dated August 7, (b) remove the vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of this lease2009.

Appears in 1 contract

Samples: Office Lease

Existing Lease. Lessee is Tenant acknowledges and agrees that Tenant currently occupying other space in occupies the building entire Premises pursuant to a lease that Office Lease between Penn Center Plaza No. TwoECT Xxxxxxxxx LLC (Landlord’s predecessor-in-interest) and Tenant dated February 23, Ltd.2005 (the “Original Lease”), an Ohio limited partnership and Lessor's predecessor in interest as the owner of the buildingwhich was amended by that First Amendment to Lease dated March 9, as landlord2006, by that Second Amendment to Lease dated December 19,2006, by that Third Amendment to Lease dated May 15,2007, by that Forth Amendment to Lease dated December 12, 2007, by that Fifth Amendment to Lease dated March 11,2011, by that Sixth Amendment to Lease dated June 10,2011, by that Seventh Amendment to Lease dated October 3, 2011, and Home Unity Savings & Loan Associationby that Eighth Amendment To Lease dated January 18,2012. The Original Lease, as tenant, dated February 13, 1986, as thereafter amended (as so amended, is hereinafter referred to as the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, .” Landlord and Lessee hereby agrees with Lessor, Tenant agree that the Existing Lease and the respective rights and obligations of the parties thereunder shall continue is in full force and effect upon all of its terms and conditions (except as to its expiration date) until the Commencement Date and shall automatically expire at 11:59 p.m. Pacific Time on July 31, 2015. On and without after the necessity Lease Date, Tenant shall not have any right to exercise any options to renew, extend or expand (if any), or rights of any further action by Lessor first offer or Lessee terminate on first refusal (if any), or other similar rights (if any) that may exist under the Existing Lease. Except to the extent that certain provisions of this Lease are stated to apply to Tenant, the Premises and Tenant’s Work pursuant to Exhibit B prior to the Commencement Date of this Lease, Tenant shall continue to lease the initial term of this lease (or, if this lease is for any reason terminated prior to the Commencement Date, the Existing Lease shall automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease through the date of such termination and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no obligation to (a) restore or repair the premises demised Premises pursuant to the Existing Lease at prior to the termination thereof, (b) remove the vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration Commencement Date of this leaseLease.

Appears in 1 contract

Samples: Lease Agreement (Gymboree Corp)

Existing Lease. Lessee is (a) Landlord and Tenant acknowledge and agree that Tenant currently occupying occupies the Premises (together with certain other space in within the building Project) pursuant to a lease the terms of that certain Lease Agreement dated as of March 29, 2004 between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership Landlord's predecessor-in-interest (Mxxxxxx Office Park Investors LLC) and Lessor's predecessor in interest as the owner of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended Tenant (as so amended, the "Existing Lease"). Until the Commencement Date, Lessee having succeeded Tenant shall continue to the tenant's interest thereunder effective as perform all of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that its obligations under the Existing Lease (including, without limitation, the timely payment of rent and the respective rights and obligations all other charges thereunder). Effective as of the parties thereunder shall continue in full force and effect upon all of its terms and conditions (except as to its expiration date) until the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date of the initial term of this lease (or, if this lease is for any reason terminated prior to the Commencement Date, the Existing Lease shall automatically terminate on and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the later Existing Lease or at law which survive the expiration or earlier termination of the date on which this lease terminates or February 28Existing Lease (collectively, 1994the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, except for liabilities accrued notwithstanding anything to the date of such terminationcontrary set forth in the Existing Lease, includingthe Surviving Obligations shall include, without limitation, LesseeTenant's liability for all minimum indemnification obligations, reconciliation payments due and additional rent owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease through the date of such termination and LesseeLease, Tenant's obligation to vacate and surrender the premises demised leased by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no obligation to (a) restore or repair the premises demised Tenant pursuant to the Existing Lease at (other than the termination thereofPremises) in accordance with the terms and conditions of the Existing Lease, (b) remove and Tenant's responsibility for any damages to the vault or any other fixtures or equipment from such space, or (c) remove Premises during the vault or any other fixtures from term of the premises demised hereunder at the expiration of this leaseExisting Lease.

Appears in 1 contract

Samples: Standard Office Lease (Alliance Fiber Optic Products Inc)

Existing Lease. Lessee is currently occupying other space in the building pursuant to a lease between Penn Center Plaza No. Two(a) Tenant acknowledges that, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the owner of the buildingLease Date, as landlordTenant occupies the Existing Premises under the terms of the Existing Lease, and Home Unity Savings & Loan Associationthat, as tenantsubject to the terms of this Lease, dated February 13, 1986, as thereafter amended (as so amended, Tenant’s rights and obligations with respect to the "Existing Premises are and shall remain governed solely by he Existing Lease"), Lessee having succeeded . Tenant agrees to vacate and surrender possession of the Existing Premises and to complete the relocation of its business operations to the tenant's interest thereunder effective Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the respective rights and obligations payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the parties thereunder shall continue Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in full force and effect upon all of its terms and conditions (except as addition to its expiration datethe rent payable with respect to the Premises) until the Commencement Date actual vacation and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date surrender of the initial term Existing Premises in accordance with the terms of this lease (or, if this lease is for any reason terminated prior Lease. Subject to the Commencement Dateforegoing, the Existing Lease shall automatically terminate on the later be deemed terminated as of the date on which this lease terminates or February 28Existing Premises Surrender Date, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease through the date of such termination and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee Tenant shall have no obligation to (a) restore further responsibility or repair the premises demised pursuant obligations with respect to the Existing Lease at the termination thereof, (b) remove the vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of this leasePremises except as provided in Section 2.2(b).

Appears in 1 contract

Samples: Office Lease (iRhythm Technologies, Inc.)

Existing Lease. Lessee Landlord and Tenant acknowledge that Tenant is currently occupying other space a tenant at 2840 San Txxxx Expressway, one of the Other Buildings located on the Real Property (the “Existing Space”) pursuant to an Office Lease dated June 11, 1990, as amended and assigned (the “Existing Lease”). The Existing Lease is hereby extended from the expiration date thereof, i.e., March 31, 2006, through the fifth (5th) business day following the Commencement Date hereunder (the “Existing Space Holdover Period”). Notwithstanding anything to the contrary in the building pursuant to a lease between Penn Center Plaza No. TwoExisting Lease, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as Tenant’s Base Rent for the owner Existing Space for the entirety of the building, as landlord, Existing Space Holdover Period (but excluding the five (5) business days following the Commencement Date for which Base Rent shall not be charged on the Existing Space) shall be Fifty-Three Thousand Three Hundred Sixty-One and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended 00/100 Dollars (as so amended, the "Existing Lease"), Lessee having succeeded $53,361.00) per month. Tenant shall continue to the tenant's interest thereunder effective as be liable for its proportionate share of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, Direct Expenses and Lessee hereby agrees with Lessor, that any other additional rent amounts accruing under the Existing Lease and until its expiration as provided herein. Tenant shall surrender the respective rights and obligations Existing Space in accordance with the terms of the parties thereunder shall continue in full force and effect upon all Existing Lease. In the event of its terms and conditions (except as to its expiration date) until the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date of the initial term termination of this lease (or, if this lease is Lease for any reason terminated prior to Tenant’s relocation from the Commencement DateExisting Space to the Premises, the Existing Lease Space Holdover Period shall automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to thirty (30) days following the date of such termination, including, without limitation, Lessee's liability for all minimum Lease termination and additional rent due under Tenant shall surrender the Premises by the end of such extended Existing Space Holdover Period. If Tenant fails to timely surrender the Existing Lease through the date of such termination and Lessee's obligation to surrender the premises demised by Space as required hereunder, Tenant shall be liable for holdover rent as originally provided in the Existing Lease to LessorLease. Lessor further agrees with Lessee that In the event the Commencement Date does not occur by September 29, 2006 as a result of Landlord Delay (i) Lessee shall have hereinafter defined), the right Base Rent for the Existing Space during the remainder of the Existing Space Holdover Period thereafter occurring (but excluding the five (5) business days following the Commencement Date for which Base Rent shall not the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no obligation to (a) restore or repair the premises demised pursuant to be charged on the Existing Lease at the termination thereof, Space) shall be reduced to $22,530.20 per month (b) remove the vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of this lease.payable on a per diem basis). The term “

Appears in 1 contract

Samples: Terms of Lease (Intervoice Inc)

Existing Lease. Lessee is currently occupying other space Landlord and Tenant hereby acknowledge and agree that (i) Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain Lease Agreement dated November 30, 2006 (the building “Allscripts Lease”), pursuant to a lease between Penn Center Plaza No. Twowhich Corning Road, Ltd.L.L.C. leased to Allscripts approximately 10,273 rentable square feet of space (the “Existing Premises”) in that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at 0000 Xxxxxxx Xxxx, an Ohio limited partnership Cary, North Carolina (the “Crossroads I Building”), (ii) Tenant and Lessor's predecessor in interest Allscripts entered into that certain Sublease Agreement dated December 3, 2008 (the “Sublease”), pursuant to which Tenant subleased the Existing Premises from Allscripts, and (iii) as the owner of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended (as so amendeddate hereof, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that the Existing Allscripts Lease and the respective rights and obligations of Sublease have been terminated. Between the parties thereunder shall continue in full force and effect upon all of its terms and conditions (except as to its expiration date) until the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date of the initial term date of this lease (or, if this lease is for any reason terminated prior to Lease and the Commencement Date, the Existing Lease shall automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum (x) Landlord and additional rent due under the Existing Lease through the date of such termination Tenant hereby acknowledge and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee agree that (i) Lessee Tenant shall have the right (but not to remain in possession of the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no obligation to (a) restore or repair the premises demised Existing Premises pursuant to the Existing Lease at the termination thereofterms of this Lease, (by) remove for the vault or any other fixtures or equipment from such space, or (c) remove purposes of construing Tenant’s obligations in relation to the vault or any other fixtures from Existing Premises under the premises demised hereunder at the expiration terms of this leaseLease, all references in this Lease to the “Premises” shall include the Existing Premises, and (z) all references in this Lease to the Building shall include the Crossroads I Building. On or before the Commencement Date, Tenant shall vacate the Existing Premises and return possession thereof to Landlord in broom-clean condition. Between the date hereof and the Commencement Date, Tenant shall pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises, which payments shall be made in accordance with the provisions of Section 3 hereof. Remainder of page intentionally left blank. Signatures on next page.

Appears in 1 contract

Samples: Lease Agreement (Amber Road, Inc.)

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Existing Lease. Lessee is currently occupying other space in Pursuant to that certain 000 Xxxxx Xxxxxx Lease Agreement (the building pursuant to “SpikeSource Lease”) between Landlord and SpikeSource, Inc., a lease between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the owner of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, Delaware corporation (“SpikeSource”) dated February 13, 1986, as thereafter amended (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27June 29, 19932009, Landlord leased the Premises to SpikeSource. LessorBy written agreement dated of even date herewith, as a material inducement Landlord and SpikeSource have agreed to Lessee terminate the SpikeSource Lease on the terms and conditions set forth therein, which terms and conditions include the obligation of SpikeSource to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that the Existing Lease and the respective rights and obligations of the parties thereunder shall continue in full force and effect upon (i) transfer all of its terms interest in the Furniture to Landlord and conditions leave the Furniture in the Premises, and (ii) pay the commissions of Tenant’s broker, CresaPartners, and SpikeSource’s broker, Cornish & Xxxxx, which are payable in connection with this Lease. Landlord shall not be in breach of this Lease, Tenant shall have no right to terminate this Lease (except as provided in the next following sentence), and Landlord shall have no liability to its expiration date) until Tenant, on account of the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate failure on the Commencement Date part of SpikeSource to either leave the Furniture in the Premises or to pay said commissions. Notwithstanding the foregoing, if SpikeSource fails to leave any of the initial term Furniture in the Premises (beyond a de minimis amount), Tenant may give Landlord written notice of this lease (orsuch fact no later than 5:00 p.m. on December 21, 2010. Landlord shall thereupon give Tenant written notice, no later than noon on December 23, 2010, if it is willing to replace the missing Furniture. If Landlord gives written notice to Tenant of its willingness to replace the missing Furniture it shall do so promptly. If Landlord gives written notice to Tenant that it is unwilling to replace the missing Furniture or fails to give Tenant any written notice, Tenant shall have the right, as its sole remedy, to terminate this lease is for any reason terminated prior to the Commencement Date, the Existing Lease shall automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease through the date by giving Landlord written notice of such termination and Lessee's obligation to surrender no later than noon on December 24, 2010. Notices under the premises demised immediately preceding sentence shall be given by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no obligation to (a) restore or repair the premises demised pursuant e-mail to the Existing Lease at the termination thereof, (b) remove the vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of this lease.following addresses: If to Landlord: [email addresses]; If to Tenant: [email addresses]

Appears in 1 contract

Samples: Lease Agreement (Audience Inc)

Existing Lease. Lessee is currently occupying other space in Landlord and Tenant hereby agree that the building pursuant to a lease between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the owner holdover term of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that the Existing Lease shall expire on October 31, 2006 (the “Existing Lease Expiration Date”).; provided that Tenant shall have the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the respective rights Existing Lease) and obligations any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms of the parties thereunder Existing Lease shall continue in full force and effect upon all of its terms and conditions (except as effect, including without limitation the surrender provisions thereof. Notwithstanding anything to its expiration date) until the Commencement Date and contrary herein or in the Existing Lease, Tenant shall automatically and without have the necessity of any further action by Lessor or Lessee terminate on the Commencement Date right, prior to surrender of the initial term of this lease (orExisting Space, if this lease is for any reason terminated prior to the Commencement Date, the Existing Lease shall automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease through the date of such termination and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that remove (i) Lessee shall have Tenant’s personal property from the right (but not the obligation) to relocate Existing Space and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Existing Space. However, Tenant shall have no obligation to (a) restore or repair the premises demised pursuant Existing Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms of the Existing Lease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, as it may have been extended (subject to Tenant’s rights with respect to the Permitted Holdover Period, as set forth below), including without limitation the right to increase the monthly base rent thereunder as provided in Section 24 of the Existing Lease to $308,308.00 (the “Unpermitted Holdover Rent”). Notwithstanding anything in this Section 5 to the contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the Existing Lease Expiration Date (as it may have been extended) to complete Tenant’s vacation and surrender of the Existing Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the termination thereofExisting Space in the required condition on or before 5:00 p.m. on November 10, 2006 (b) remove or December 10, 2006, if the vault Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be obligated to pay holdover rent in the amount of the Unpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and any other fixtures or equipment from succeeding months of hold-over), such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of this leasePermitted Holdover Period being voided by such extended unpermitted holdover.

Appears in 1 contract

Samples: Lease Termination Agreement (Intervoice Inc)

Existing Lease. Lessee is currently occupying other space in the building pursuant to a lease between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the owner of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that If the Existing Lease terminates with respect to the Must- Take Space prior to December 31, 2010 and the respective rights and obligations Tibco Sublease has not been previously terminated for any reason, the Tibco Sublease automatically shall be deemed terminated as of the parties thereunder date of termination of the Existing Lease (the “Early Termination Date”), the Must-Take Effective Date automatically shall continue be accelerated to the day immediately following the Early Termination Date (the “Advance Must-Take Effective Date”), Tenant shall be deemed to have taken possession of the Must-Take Space pursuant to the terms of the Lease and this Must-Take provision as of the Advance Must-Take Effective Date, and the terms and conditions of this Lease applicable to the Must-Take Space shall be in full force and effect upon all of its terms and conditions (except with respect to the Must-Take Space as to its expiration date) until the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date of the initial term of this lease (or, if this lease is for any reason terminated prior to the Commencement Advance Must-Take Effective Date, the Existing Lease shall automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease through the date of such termination and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no obligation to (a) restore or repair the premises demised pursuant Must-Take Term shall be extended to include the Existing Lease at period commencing upon the termination thereofAdvance Must-Take Effective Date through and including December 31, 2010 (such period being referred to herein as the “Advance Must-Take Term”), and (b) remove the vault Base Rent for the Must-Take Space during the Advance Must-Take Term shall be the then Prevailing Market rate for the Must-Take Space, as determined in accordance with Subsection F below, as modified by this paragraph, provided that there shall be no Minimum Initial Base Rent or Maximum Initial Base Rent for such purposes. Landlord and Tenant acknowledge and agree that the determination of Base Rent for the Advance Must-Take Term is independent of and shall not affect in any other fixtures or equipment from way the determination of Base Rent for the remainder of the Must-Take Term, as set forth in Subsection F below. In the event that the Tibco Sublease is in effect but Tenant has not yet taken possession of a portion of the Must-Take Space by the Advance Must-Take Effective Date, then Tenant shall take possession of such spaceportion of the Must-Take Space, or in its then as-is condition, immediately upon Landlord’s recovery of possession thereof, and Tenant shall not be required to pay Rent with respect to such portion until Landlord has so recovered possession. Promptly following the Early Termination Date, if any (c) remove regardless of whether such date is prior to April 1, 2010, notwithstanding Paragraph F.1 below), Landlord shall commence the vault or any other fixtures from procedure set forth in Subsection F below for determining the premises demised hereunder at Prevailing Market rate for the expiration of this leaseMust-Take Space during the Advance Term.

Appears in 1 contract

Samples: Fourth Amendment (Affymax Inc)

Existing Lease. Lessee is The parties acknowledge that Landlord currently occupying other space leases to Tenant and Tenant currently leases from Landlord Suite 1200 and Suite 2700 in the building Tower (the “Existing Premises”) and Suite 2510 in the Tower (the “25th Floor Space”) pursuant to a lease between Penn Center Plaza No. Twothat certain Office Lease Agreement dated May 30, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the owner of the building2006, as landlordamended by First Amendment to Lease dated January 15, and Home Unity Savings & Loan Association2007, as tenant, by Second Amendment to Lease dated February 1327, 19862007, by Third Amendment to Lease dated as thereafter amended of May 5, 2008 and by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective . Effective as of August 27, 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that the Existing Lease and the respective rights and obligations of the parties thereunder shall continue in full force and effect upon all of its terms and conditions date which is sixty (except as to its expiration date60) until days after the Commencement Date and shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date under this Lease, Tenant’s lease of the initial term of this lease (or, if this lease is for any reason terminated prior to the Commencement Date, Existing Premises under the Existing Lease shall automatically terminate on the later and shall be of no further force or effect (except for those provisions of the date on which this lease terminates Existing Lease which, by their terms, expressly survive the expiration or February 28, 1994), except for liabilities accrued to the date earlier termination of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Lease). The period from the Commencement Date under this Lease through the date of such termination and Lessee's obligation which is sixty (60) days thereafter may be referred to surrender herein as the premises demised by “Moving Period”. However, notwithstanding anything to the contrary contained in the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixturesLease, furniture and equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (aas those terms are defined in the Existing Lease) restore or repair for the premises demised Existing Premises pursuant to the Existing Lease at attributable to such sixty (60) day Moving Period. Should Tenant fail to vacate the termination thereof, (b) remove Existing Premises and surrender the vault Existing Premises to Landlord on or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at before the expiration of the Moving Period, the holdover provisions of the Existing Lease shall apply. Notwithstanding anything to the contrary contained in the Existing Lease, Tenant need not restore the Existing Premises to its original condition or remove any improvements from the Existing Premises; provided, however, that Tenant shall be required to remove all furniture, equipment and personal property from the Existing Premises and to remove cabling from the Existing Premises so designated for removal (to the applicable telephone closet(s)) by Landlord and shall return such space to Landlord in broom-clean condition. The parties acknowledge that Tenant’s lease of the 25th Floor Space pursuant to the Existing Lease shall not be terminated under this leaseSection 35(a) and Tenant’s lease of the 25th Floor Space shall continue as provided in the Fourth Amendment to Lease dated August 7, 2009.

Appears in 1 contract

Samples: Assignment of Sublease Agreement (Coinstar Inc)

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