Common use of Existing Premises Clause in Contracts

Existing Premises. Prior to June 30, 2022, Tenant shall continue to pay Base Rent for the Existing Premises as set forth in the Lease, except as set forth below with respect to the EP Rent Abatement (as defined below). Commencing as of July 1, 2022 and continuing thereafter through the New Expiration Date, Tenant shall pay Base Rent for the Existing Premises pursuant to the Lease in the following amounts: Period Monthly Base Rent 07/01/22 — 06/30/23 $ 73,309.89 *Provided that Tenant is not then in Default of the Lease, as amended, beyond any applicable notice and cure period set forth in the Lease, Landlord hereby agrees that Tenant shall not be required to pay Base Rent with respect to the Existing Premises for the period commencing on November 1, 2017 and ending on November 30, 2017 (the “EP Rent Abatement Period”). The total amount of Base Rent abated during the EP Rent Abatement Period with respect to the Existing Premises shall not exceed $63,179.40 (the “EP Rent Abatement”). Notwithstanding the foregoing, during the EP Rent Abatement Period, Tenant shall remain obligated to pay, in accordance with the terms of the Lease, as amended, (i) Tenant’s Share of Building Direct Expenses, and (ii) any and all taxes and other charges as set forth in Section 4.5 of the Lease. Tenant acknowledges and agrees that the foregoing EP Rent Abatement has been granted to Tenant as additional consideration for entering into this Amendment and for agreeing to pay the Rent and performing the terms and conditions otherwise required under the Lease, as amended. If Tenant shall be in Default under the Lease, as amended, prior to the end of the EP Rent Abatement Period, and shall fail to cure such Default within the notice and cure period, if any, permitted for cure pursuant to the Lease, as amended, and Landlord elects to terminate the Lease because of such Default, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, as amended, to require that Tenant shall immediately become obligated to pay to Landlord all Rent abated hereunder during the EP Rent Abatement Period with respect to the EP Rent Abatement, with interest as provided pursuant to the Lease from the date such Rent would have otherwise been due but for the abatement provided herein.

Appears in 2 contracts

Samples: Office Lease (CrowdStrike Holdings, Inc.), Office Lease (CrowdStrike Holdings, Inc.)

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Existing Premises. Prior Provided Tenant is not in default pursuant to June 30Section 20(a) of this Lease, 2022Landlord shall provide Tenant with a Tenant Refurbishment Allowance, Tenant shall continue as of August 1, 2012, of up to pay Base Rent Fifteen Dollars ($15.00) per Rentable Square Foot of the Existing Premises, except for the Existing Premises as set forth in the Lease, except as set forth below with respect 351 Washington Financial space and any Reduction Space eliminated pursuant to the EP Rent Abatement Reduction Option (as defined below)in Section 44) for Tenant Refurbishment (as defined in Exhibit F, the Tenant Work Letter) during the Lease term. Commencing as of July 1, 2022 The Tenant Refurbishment Allowance may be used only for actual out-of-pocket costs and continuing thereafter through the New Expiration Date, Tenant shall pay Base Rent Washington state sales tax for the Existing Premises pursuant Tenant Refurbishment. All Tenant Refurbishment is to the Lease in the following amounts: Period Monthly Base Rent 07/01/22 — 06/30/23 $ 73,309.89 *Provided that Tenant is not then in Default of the Lease, as amended, beyond any applicable notice and cure period set forth in the Lease, Landlord hereby agrees that Tenant shall not be required to pay Base Rent with respect to the Existing Premises for the period commencing on November 1, 2017 and ending on November 30, 2017 (the “EP Rent Abatement Period”). The total amount of Base Rent abated during the EP Rent Abatement Period with respect to the Existing Premises shall not exceed $63,179.40 (the “EP Rent Abatement”). Notwithstanding the foregoing, during the EP Rent Abatement Period, Tenant shall remain obligated to pay, performed in accordance with Exhibit F, the terms Tenant Work Letter. In order to collect the Tenant Refurbishment Allowance, Tenant must inform Landlord by August 31 of each year up to August 31, 2016, of the Lease, as amended, (i) Tenant’s Share of Building Direct Expenses, and (ii) any and all taxes and other charges as set forth in Section 4.5 estimated drawdown amount for the following calendar year so that Landlord may budget for such drawdown expenditure. Any unused portion of the Lease. requested Tenant acknowledges and agrees that Refurbishment Allowance may be carried over from year to year or applied to the foregoing EP Rent Abatement has been granted Excess Costs (defined below), but shall only be available to Tenant as additional consideration for entering into this Amendment and for agreeing to pay the Rent and performing the terms and conditions otherwise required under the Leaseuntil December 31, as amended. If Tenant shall be in Default under the Lease2017, as amended, prior to the end of the EP Rent Abatement Period, and shall fail to cure such Default within the notice and cure periodat which time remaining sums, if any, permitted for cure pursuant to the Lease, as amended, and Landlord elects to terminate the Lease because of such Default, then Landlord may at its option, not used by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, as amended, to require that Tenant shall immediately become obligated revert back to pay to Landlord all Rent abated hereunder during the EP Rent Abatement Period with respect to the EP Rent Abatement, with interest as provided pursuant to the Lease from the date such Rent would have otherwise been Landlord. Tenant is responsible for payment of any sums due but for the abatement provided hereinTenant Refurbishment or Excess Costs in excess of the Tenant Refurbishment Allowance.

Appears in 1 contract

Samples: Office Lease Agreement (F5 Networks Inc)

Existing Premises. Prior to June 30Upon the New Premises Commencement Date, 2022, provided Tenant shall continue to pay Base Rent for has properly re-delivered possession of the Existing Premises to Landlord, Tenant’s lease of the Existing Premises shall terminate and be of no further force and effect, and both Landlord and Tenant shall be relieved of their respective future obligations under the Lease, as amended hereby, in connection with the Existing Premises, except those obligations set forth in the Lease, except as set forth below amended hereby, which specifically survive the expiration or earlier termination of Tenant’s lease of the Existing Premises, including, without limitation, the payment by Tenant of all amounts owed by Tenant under the Lease, as amended hereby, with respect to Tenant’s period of occupancy of the EP Rent Abatement (as defined below)Existing Premises. Commencing as of July In the event the New Premises Commencement Date does not occur on or before June 1, 2022 and continuing thereafter through the New Expiration Date2011, Tenant shall pay Base Rent for the Existing Premises shall continue on a month-to-month term pursuant to the Lease terms contained in the Lease, as amended hereby. Tenant shall vacate the Existing Premises, and surrender and deliver exclusive possession thereof to Landlord within ten (10) days following amounts: Period Monthly Base Rent 07/01/22 — 06/30/23 $ 73,309.89 *Provided that Tenant is not then the New Premises Commencement Date in Default accordance with the provisions of the Lease, as amendedamended hereby. Except as specifically permitted herein, beyond any applicable notice and cure period set forth in the Lease, Landlord hereby agrees event that Tenant shall not be required to pay Base Rent with respect to retains possession of the Existing Premises for the period commencing on November 1, 2017 and ending on November 30, 2017 (the “EP Rent Abatement Period”). The total amount of Base Rent abated during the EP Rent Abatement Period with respect to the Existing Premises shall not exceed $63,179.40 (the “EP Rent Abatement”). Notwithstanding the foregoing, during the EP Rent Abatement Period, Tenant shall remain obligated to pay, in accordance with the terms of the Lease, as amended, (i) Tenant’s Share of Building Direct Expenses, and (ii) or any and all taxes and other charges as set forth in Section 4.5 of the Lease. Tenant acknowledges and agrees that the foregoing EP Rent Abatement has been granted to Tenant as additional consideration for entering into this Amendment and for agreeing to pay the Rent and performing the terms and conditions otherwise required under the Lease, as amended. If Tenant shall be in Default under the Lease, as amended, prior to the end of the EP Rent Abatement Period, and shall fail to cure part thereof after such Default within the notice and cure period, if any, permitted for cure pursuant to the Lease, as amended, and Landlord elects to terminate the Lease because of such Defaultdate, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies rights Landlord may have under the Lease, as amended, to require that Tenant shall immediately become obligated to pay to Landlord all Rent abated hereunder during the EP Rent Abatement Period with respect to the EP Rent Abatement, with interest as provided pursuant to the Lease from or at law, the date such Rent would have otherwise been due but for provisions of Article 5 of the abatement provided hereinLease, regarding holdover occupancy, shall apply.

Appears in 1 contract

Samples: Lease (ASC Acquisition LLC)

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Existing Premises. Prior to June 30, 2022, Tenant shall continue to pay Base Rent for with respect to the Existing Premises as set forth in the LeaseLease through February 28, except as set forth below with respect to the EP Rent Abatement (as defined below)2017. Commencing as of July on March 1, 2022 and continuing thereafter through the New Expiration Date2017, Tenant shall pay Base Rent for the Existing Premises pursuant in the amount of $53.00 per rentable square foot of the Existing Premises per year. Commencing on March 1, 2018, and thereafter on each subsequent March 1st during the Base Term (each an “Adjustment Date”), Base Rent for the Existing Premises shall be increased by multiplying the Base Rent payable for the Existing Premises immediately before such Adjustment Date by 3% (the “Adjustment Percentage”) and adding the resulting amount to the Lease in the following amounts: Period Monthly Base Rent 07/01/22 — 06/30/23 $ 73,309.89 *Provided that Tenant is not then in payable for the Existing Premises immediately before such Adjustment Date. Base Rent for the Existing Premises, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated. Notwithstanding the foregoing, for the period commencing March 1, 2017, through June 30, 2017 (the “Existing Premises Abatement Period”), so long as no Default of has occurred under the Lease, as amended, beyond any applicable notice and cure period set forth in the Lease, Landlord hereby agrees that Tenant shall not only be required to pay Base Rent with respect to 6,052 rentable square feet of the Existing Premises. Tenant shall resume paying Base Rent with respect to the entire Existing Premises for the period commencing on November July 1, 2017 2017. For the avoidance of doubt, (i) Tenant shall be required to pay for all Operating Expenses, Utilities and ending on November 30, 2017 (the “EP Rent Abatement Period”). The total amount of Base Rent abated during the EP Rent Abatement Period janitorial services with respect to the Existing Premises shall not exceed $63,179.40 (as provided under the “EP Rent Abatement”). Notwithstanding the foregoing, Lease during the EP Rent Existing Premises Abatement Period, and (ii) during the Existing Premises Abatement Period, Tenant shall remain obligated be required to pay, in accordance with pay administration rent each month equal to the terms amount of the Lease, as amended, (i) Tenant’s Share of Building Direct Expenses, and (ii) any and all taxes and other charges as set forth in administration rent that Tenant would have been required to pay pursuant to Section 4.5 5 of the Lease. Tenant acknowledges and agrees that original Lease in the foregoing EP Rent Abatement has been granted to Tenant as additional consideration for entering into this Amendment and for agreeing to pay the Rent and performing the terms and conditions otherwise required under the Lease, as amended. If Tenant shall be in Default under the Lease, as amended, prior to the end absence of the EP Rent Abatement Period, and shall fail to cure such Default within the notice and cure period, if any, permitted for cure pursuant to the Lease, as amended, and Landlord elects to terminate the Lease because of such Default, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, as amended, to require that Tenant shall immediately become obligated to pay to Landlord all Rent abated hereunder during the EP Rent there being an Existing Premises Abatement Period with respect to the EP Rent Abatement, with interest as provided pursuant to the Lease from the date such Rent would have otherwise been due but for the abatement provided hereinExisting Premises.

Appears in 1 contract

Samples: Lease (Yumanity Therapeutics, Inc.)

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