Common use of Sprinklers Clause in Contracts

Sprinklers. A. In the event that Tenant performs any Alterations in the Demised Premises, Tenant, as part of such Alterations, shall be required to (x) install a sprinkler system in the Demised Premises to the extent not theretofor installed and (y) make all modifications to any existing sprinkler system necessary in connection with such Alterations, and in connection with the foregoing the following provisions of this Section shall apply: (i) such sprinkler system and/or modifications thereto shall comply with all applicable laws, orders, rules and regulations; (ii) the supplying and installing of any such sprinkler system and/or modifications thereto shall be made in accordance with the provisions of this Lease, including but not limited to the provisions of this Article and Article 6 and the type, brand, location and manner of installation of such sprinkler system and/or modifications thereto shall be subject to Owner's prior approval; and (iii) Tenant shall make all repairs and replacements, as and when necessary, to such sprinkler system including any modifications thereto and any replacements thereof. Notwithstanding the aforesaid provisions of this Section, Owner shall have the election of supplying and installing such sprinkler system and/or modifications thereto either by itself or by its agents or contractors, in which event all costs and expenses incurred by Owner in connection with supplying and installing such sprinkler system and/or modifications thereto and any repairs or replacements of such sprinkler system as the same may be modified and any replacements thereof made by Owner, at Owner's election, shall be paid by Tenant to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. In addition to paying all costs and expenses in connection with the supplying, installing and modifying of such sprinkler system, Tenant shall pay to Owner, for each floor of the Building on which any portion of the Demised Premises is located, a fee equal to Tenant's pro rata share of all of the costs and expenses incurred by Owner, if any, in supplying and installing a "common sprinkler header" on such floor which pro rata share shall be a fraction in which the numerator shall be the number of rentable square feet of that portion of the Demised Premises located on such floor and the denominator shall be the number of rentable square feet on such floor, provided however, that notwithstanding anything contained in this Section to the contrary, Owner shall have no obligation to install such "common sprinkler header" on any floor of the Building which shall be entirely demised to Tenant. Such fee shall be payable to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. Notwithstanding anything contained in this Lease to the contrary, such sprinkler system, or any replacement thereof and any modifications and/or installations in connection therewith, whether made by Tenant or Owner, shall upon expiration or sooner termination of the Demised Term be deemed the property of Owner.

Appears in 1 contract

Samples: Agreement of Lease (Langer Inc)

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Sprinklers. A. In 30. Anything elsewhere in this lease to the contrary notwithstanding, if the New York Board of Fire Underwriters of New York Fire Insurance Exchange or any bureau, department or official of the federal, state or city government recommend or require the installation of a sprinkler system or that any changes, modifications, alterations, or additional sprinkler heads or other equipment be made or supplied in an existing sprinkler system by reason of Tenant's business, or the location of partitions, trade fixtures, or contents of the demised premises. Tenant shall, at Tenant's expense, promptly make such sprinkler system installations, changes, modifications, alterations, and supply additional sprinkler heads or other equipment as required whether the work involved shall be structural or non-structural in nature. Tenant shall pay to Owner as additional rent the sum of $100.00, on the first day of each month during the term of this lease, as Tenant's portion of the contract price for sprinkler supervisory service. Elevators, Heat, Cleaning: 31. As long as Tenant is not in default under any of the covenants of this lease Owner shall: (a) if freight elevator service is provided, same shall be provided only on regular business days Monday through Friday inclusive, and on those days only between the hours of 9 a.m. and 12 noon and between 1 p.m. and 5 p.m.; (b) furnish heat, water and other services supplied by Owner to the demised premises, when and as required by law. (c) clean the public halls and public halls and public portions of the building which are used in common by all tenants. Tenant shall, at Tenant's expense, keep the demised premises, including the windows, clean and in order, to the satisfaction of Owner, and for that purpose shall employ the person or persons, or corporation approved by Owner. Bills for the same shall be rendered by Owner to Tenant at such time as Owner may elect and shall be due and payable hereunder, and the amount of such bills shall be deemed to be, and be paid as, additional rent. Tenant shall, however, have the option of independently contracting for the removal of such rubbish and refuse in the event that Tenant performs any Alterations does not wish to have same done by employees of Owner. Under such circumstances, however, the removal of such refuse and rubbish by others shall be subject to such rules and regulations as, in the Demised Premisesjudgement of Owner, are necessary for the proper operation of the building. Owner reserves the right to stop service of the heating, elevator, plumbing and electric systems when necessary, by reason of accident, or emergency, or for repairs, alterations, replacements or improvements, in the judgement of Owner desirable or necessary to be made, until said repairs, alterations, replacements or improvements shall have been completed. If the building of which the demised premises are a part supplies manually operated elevator service, Owner may proceed with alterations necessary to substitute automatic control elevator service upon ten (10) day written Notice to Tenant without in any way affecting the obligations of Tenant hereunder, provided that the same shall be done with the minimum amount of inconvenience to Tenant, and Owner pursues with due diligence the completion of the alterations. All days from 8 AM to 8 PM, Owner agrees to make repairs (as prompt as possible to the heating equipment. If heating to demised premises as noted in this article becomes cost ineffective due to the additional hours of heating requested tenant, a solution between a landlord and tenant to be negotiated (to keep the demised premise heated during the tenants desired hours) Security: 32. Tenant has deposited with Owner the sum of $24,937.50 as security for the faithful performance and observance by Tenant of the terms, provisions and conditions of this lease; it is agreed that in the event Tenant defaults in respect of any of the terms, provisions and conditions of this lease, including, but not limited to, the payment of rent and additional rent, Owner may use, apply or retain the whole or any part of such Alterations, shall the security so deposited to the extent required for the payment of any rent and additional rent or any other sum as to which tenant is in default or for any sum which Owner may expend or may be required to (x) install a sprinkler system expend by reason of Tenant's default in respect of any of the Demised Premises to the extent not theretofor installed terms, covenants and (y) make all modifications to any existing sprinkler system necessary in connection with such Alterations, and in connection with the foregoing the following provisions conditions of this Section shall apply: (i) such sprinkler system and/or modifications thereto shall comply with all applicable laws, orders, rules and regulations; (ii) the supplying and installing of any such sprinkler system and/or modifications thereto shall be made in accordance with the provisions of this Leaselease, including but not limited to to, any damages or deficiency in the provisions of this Article and Article 6 and the type, brand, location and manner of installation of such sprinkler system and/or modifications thereto shall be subject to Owner's prior approval; and (iii) Tenant shall make all repairs and replacements, as and when necessary, to such sprinkler system including any modifications thereto and any replacements thereof. Notwithstanding the aforesaid provisions of this Section, Owner shall have the election of supplying and installing such sprinkler system and/or modifications thereto either by itself or by its agents or contractors, in which event all costs and expenses incurred by Owner in connection with supplying and installing such sprinkler system and/or modifications thereto and any repairs or replacements of such sprinkler system as the same may be modified and any replacements thereof made by Owner, at Owner's election, shall be paid by Tenant to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. In addition to paying all costs and expenses in connection with the supplying, installing and modifying of such sprinkler system, Tenant shall pay to Owner, for each floor reletting of the Building on which any portion of the Demised Premises is located, a fee equal to Tenant's pro rata share of all of the costs and expenses incurred by Owner, if any, in supplying and installing a "common sprinkler header" on such floor which pro rata share shall be a fraction in which the numerator shall be the number of rentable square feet of that portion of the Demised Premises located on such floor and the denominator shall be the number of rentable square feet on such floor, provided however, that notwithstanding anything contained in this Section to the contrary, Owner shall have no obligation to install such "common sprinkler header" on any floor of the Building which shall be entirely demised to Tenant. Such fee shall be payable to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. Notwithstanding anything contained in this Lease to the contrary, such sprinkler system, or any replacement thereof and any modifications and/or installations in connection therewithpremises, whether made by Tenant or Owner, shall upon expiration or sooner termination of the Demised Term be deemed the property of Owner.such damages

Appears in 1 contract

Samples: Agreement of Lease (Jupiter Communications Inc)

Sprinklers. A. In 30. Anything elsewhere in this lease to the event contrary notwithstanding, if the New York Board of Fire Underwriters, or the New York Fire Insurance Exchange or any bureau, department or official of the federal, state or city government recommend or require the installation of a sprinkler system or that Tenant performs any Alterations changes, modifications, alterations or additional sprinkler heads or other equipment be made or supplied in an existing sprinkler system by reason of Tenant's business, or the Demised Premiseslocation of partitions, Tenanttrade fixtures, as part or other contents of the demised premises, or for any other reason, or if any such Alterationssprinkler system installations, shall be required modifications, alterations, additional sprinkler heads or other such equipment, become necessary to (x) install prevent the imposition of a penalty or charge against the full allowance for a sprinkler system in the Demised Premises to the extent not theretofor installed and (y) fire insurance rate set by any said Exchange or by any fire insurance company, Tenant shall, at Tenant's expense, promptly make all modifications to any existing sprinkler system necessary in connection with such Alterations, and in connection with the foregoing the following provisions of this Section shall apply: (i) such sprinkler system and/or modifications thereto shall comply with all applicable lawsinstallations, orderschanges, rules modifications, alterations, and regulations; (ii) supply additional sprinkler heads or other equipment as required whether the supplying and installing of any such sprinkler system and/or modifications thereto work involved shall be made structural or non-structural in accordance with the provisions of this Lease, including but not limited to the provisions of this Article and Article 6 and the type, brand, location and manner of installation of such sprinkler system and/or modifications thereto shall be subject to Owner's prior approval; and (iii) Tenant shall make all repairs and replacements, as and when necessary, to such sprinkler system including any modifications thereto and any replacements thereofnature. Notwithstanding the aforesaid provisions of this Section, Owner shall have the election of supplying and installing such sprinkler system and/or modifications thereto either by itself or by its agents or contractors, in which event all costs and expenses incurred by Owner in connection with supplying and installing such sprinkler system and/or modifications thereto and any repairs or replacements of such sprinkler system as the same may be modified and any replacements thereof made by Owner, at Owner's election, shall be paid by Tenant to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. In addition to paying all costs and expenses in connection with the supplying, installing and modifying of such sprinkler system, Tenant shall pay to OwnerOwner as additional rent the sum of $____________, for on the first day of each floor month during the term of the Building on which any this lease, as Tenant's portion of the Demised Premises contract price for sprinkler supervisory service. ELEVATORS, HEAT, CLEANING: 31. As long as Tenant is locatednot in default under any [of] the covenants of this lease beyond the applicable grace period provided in this lease for the curing of such defaults, a fee equal Owner shall: (a) provide necessary passenger elevator facilities on business days from 8 a.m. to Tenant's pro rata share of all of the costs 6 p.m. and expenses incurred by Owneron Saturdays from 8 a.m. to 1 p.m.; (b) if freight elevator service is provided, if any, in supplying and installing a "common sprinkler header" on such floor which pro rata share same shall be a fraction in which the numerator shall be the number of rentable square feet of that portion of the Demised Premises located provided only on such floor and the denominator shall be the number of rentable square feet on such floor, provided however, that notwithstanding anything contained in this Section to the contrary, Owner shall have no obligation to install such "common sprinkler header" on any floor of the Building which shall be entirely demised to Tenant. Such fee shall be payable to Owner within ten (10) regular business days next following the rendition of a statement thereof by Owner to Tenant. Notwithstanding anything contained in this Lease to the contrary, such sprinkler system, or any replacement thereof and any modifications and/or installations in connection therewith, whether made by Tenant or Owner, shall upon expiration or sooner termination of the Demised Term be deemed the property of Owner.Monday through Friday inclusive,

Appears in 1 contract

Samples: Agreement of Lease (Medscape Inc)

Sprinklers. A. In 30. Anything elsewhere in this lease to the event contrary notwithstanding, if the New York Board of Fire Underwriters or the New York Fire Insurance Exchange or any bureau, department or official of the federal, state city government recommend or require the installation of a sprinkler system or that Tenant performs any Alterations changes, modifications, alterations, or additional sprinkler heads or other equipment be made or supplied in an existing sprinkler system by reason of Tenant's business, or the Demised Premiseslocation or partitions, Tenanttrade fixtures, as part or other contents of the demised premises, or for any other reason, or if any such Alterationssprinkler system installations, shall be required modifications, alterations, additional sprinkler header or other such equipment, become necessary to (x) install prevent the imposition of a penalty or charge against the full allowance for a sprinkler system in the Demised Premises to the extent not theretofor installed and (y) fire insurance rate set by any said Exchange or by any fire insurance company, Tenant shall, at Tenant's expense, promptly make all modifications to any existing sprinkler system necessary in connection with such Alterations, and in connection with the foregoing the following provisions of this Section shall apply: (i) such sprinkler system and/or modifications thereto installations, changes, modifications, alterations, and supply additional sprinkler heads or other equipment as required whether the work involved shall comply with all be structural or non-structural in nature. Tenant shall pay [GRAPHIC OMITTED] to Owner as additional rent the sum of $150.00 on the first day of each month during the term of this lease, as Tenant's portion of the contract price for sprinkler supervisory service. ELEVATORS, HEAT, CLEANING: 31. As long as Tenant is not in default under any the covenants of this lease beyond the applicable lawsgrace period provided in this lease for the curing of such defaults, orders, rules Owner shall: (a) provide necessary passenger elevator facilities on business days from 8 a.m. to 6 p.m. and regulationson Saturdays from 8 a.m. to 1 p.m.; (iib) the supplying and installing of any such sprinkler system and/or modifications thereto if freight elevator service is provided, same shall be made in accordance with provided only on regular business days Monday through Friday inclusive, and on those days only between the provisions hours of this Lease9 a.m. and 12 noon and between 1 p.m. and 5 p.m.; (c) furnish heat, including but not limited to the provisions of this Article water and Article 6 and the type, brand, location and manner of installation of such sprinkler system and/or modifications thereto shall be subject to Owner's prior approval; and (iii) Tenant shall make all repairs and replacements, as and when necessary, to such sprinkler system including any modifications thereto and any replacements thereof. Notwithstanding the aforesaid provisions of this Section, Owner shall have the election of supplying and installing such sprinkler system and/or modifications thereto either by itself or by its agents or contractors, in which event all costs and expenses incurred by Owner in connection with supplying and installing such sprinkler system and/or modifications thereto and any repairs or replacements of such sprinkler system as the same may be modified and any replacements thereof made by Owner, at Owner's election, shall be paid by Tenant to Owner within ten (10) days next following the rendition of a statement thereof other services supplied by Owner to Tenant. In addition the demised premised, when and as required by law, on business days from 8 a.m. to paying all costs 6 p.m. and expenses in connection with the supplying, installing and modifying of such sprinkler system, Tenant shall pay to Owner, for each floor of the Building on which any portion of the Demised Premises is located, a fee equal to Tenant's pro rata share of all of the costs and expenses incurred by Owner, if any, in supplying and installing a "common sprinkler header" on such floor which pro rata share shall be a fraction in which the numerator shall be the number of rentable square feet of that portion of the Demised Premises located on such floor and the denominator shall be the number of rentable square feet on such floor, provided however, that notwithstanding anything contained in this Section to the contrary, Owner shall have no obligation to install such "common sprinkler header" on any floor of the Building which shall be entirely demised to Tenant. Such fee shall be payable to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. Notwithstanding anything contained in this Lease to the contrary, such sprinkler system, or any replacement thereof and any modifications and/or installations in connection therewith, whether made by Tenant or Owner, shall upon expiration or sooner termination of the Demised Term be deemed the property of Owner.Saturdays from 8

Appears in 1 contract

Samples: Agreement (Younetwork Corp)

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Sprinklers. A. In 30. Anything elsewhere in this lease to the event contrary notwithstanding, if the New York Board of Fire Underwriters or the New York Fire Insurance Exchange or any bureau, department or official of the federal, state or city government recommended or require the installation of a sprinkler system or that Tenant performs any Alterations changes, modifications, alterations, or additional sprinkler heads or other equipment be made or supplied in an existing sprinkler by reason of Tenant's business, or the Demised Premiseslocation of partitions, Tenanttrade fixtures, as part or other contents of the demised premises, or for any other reason, or if any such Alterationssprinkler, shall be required system installations, modifications, alterations, additional sprinkler heads or other such equipment, become necessary to (x) install prevent the imposition of a penalty or charge against the full allowance for a sprinkler system in the Demised Premises to the extent not theretofor installed and (y) fire insurance rate set by any said Exchange or by any fire insurance company, Tenant shall, at Tenant's expense, promptly make all modifications to any existing sprinkler system necessary in connection with such Alterations, and in connection with the foregoing the following provisions of this Section shall apply: (i) such sprinkler system and/or modifications thereto shall comply with all applicable lawsinstallations, orderschanges, rules modifications, alterations, and regulations; (ii) supply additional sprinkler heads or other equipment as required whether the supplying and installing of any such sprinkler system and/or modifications thereto work involved shall be made structural or non-structural in accordance with the provisions of this Lease, including but not limited to the provisions of this Article and Article 6 and the type, brand, location and manner of installation of such sprinkler system and/or modifications thereto shall be subject to Owner's prior approval; and (iii) Tenant shall make all repairs and replacements, as and when necessary, to such sprinkler system including any modifications thereto and any replacements thereofnature. Notwithstanding the aforesaid provisions of this Section, Owner shall have the election of supplying and installing such sprinkler system and/or modifications thereto either by itself or by its agents or contractors, in which event all costs and expenses incurred by Owner in connection with supplying and installing such sprinkler system and/or modifications thereto and any repairs or replacements of such sprinkler system as the same may be modified and any replacements thereof made by Owner, at Owner's election, shall be paid by Tenant to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. In addition to paying all costs and expenses in connection with the supplying, installing and modifying of such sprinkler system, Tenant shall pay to Owner as additional rent (2) of the contract price for sprinkler supervisory service.(3) ELEVATORS, HEAT, CLEANING: 31. As long as Tenant is not in default under any of the covenants of this lease owner shall: clean the public halls and public portions of the building which are used in common by all tenants. Tenant shall, at Tenant's expense keep the demised premises, including the windows, clean and in order, to the satisfaction of Owner, and for each floor that purpose shall employ the person or persons, or corporation approved by Owner. Owner reserves the right to stop service of the Building on which any portion heating, plumbing and electric systems, when necessary, by reason of the Demised Premises is locatedaccident, a fee equal to Tenant's pro rata share of all of the costs and expenses incurred by Owneror emergency, if anyor for repairs, alterations, replacements or improvements, in supplying and installing a "common sprinkler header" on such floor which pro rata share shall the judgement of Owner desirable or necessary to be a fraction in which the numerator shall be the number of rentable square feet of that portion of the Demised Premises located on such floor and the denominator shall be the number of rentable square feet on such floormade, provided howeveruntil said repairs, that notwithstanding anything contained in this Section to the contraryalterations, Owner replacements or improvements shall have no obligation been completed. --------------------- Space to install such "common sprinkler header" on any floor be filled in or deleted. 1. Owner's reasonable estimate of the Building which shall be entirely demised to TenantTenaxx'x xhare 2. Such fee shall be payable to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant7.26% 3. Notwithstanding anything contained in this Lease to the contrary, such sprinkler system, or any replacement thereof and any modifications and/or installations in connection therewith, whether made by Tenant or Owner, shall upon expiration or sooner termination of the Demised Term be deemed the property of Owneralarm service.

Appears in 1 contract

Samples: Agreement (Advanced Viral Research Corp)

Sprinklers. A. 30. Anything elsewhere in this lease to the contrary notwithstanding, if the New York Board of Fire Underwriters or the New York Fire Insurance Exchange or any bureau, department or official of the federal, state or city government recommend or require the installation of a sprinkler system or that any changes, modifications, alternations, or additional sprinkler heads or other equipment be made or supplied in an existing sprinkler system by reason of Tenant business, or the location of partitions, trade fixtures, or other contents or the demised premises, or for any other reason, or if any such sprinkler system installations, modifications, alterations, additional sprinkler heads or other such equipment, become necessary to prevent the imposition of a penalty or charge against the full allowance for a sprinkle system in the fire insurance rate set by any said Exchange or by any fire insurance company due to the operation of Tenant's business, Tenant shall, at Tenant's expense, promptly make such sprinkler system installations, changes, modifications, alteration and supply additional sprinkler heads or other equipment as required whether the work involved shall be structural or non-structural in nature. Tenant shall pay to Owner as additional rent the sum of $_____________, on the first day of each month during the term of this lease, as Tenant's portion of the contract price for sprinkler supervisory service. ELEVATORS, HEAT, CLEANING: 31. As long as Tenant is not in default under any the covenants of this lease Owner shall: (a) provide necessary passenger elevator facilities on business day from 8 a.m. to 6 p.m. and on Saturdays from 8 a.m. to 1 p.m.; (b) if freight elevator service is provided, same shall be provided, same shall be provided only on regular business days Monday through Friday inclusive, and on those days only between the hours of 9 a.m. and 12 noon and between ___ p.m. and 5 p.m.; (c) furnish heat, water and other services supplied by Owner to the demised premises, when and as required by law, on business days from 8 a.m. to 6 p.m. and on Saturdays from 8 a.m. to 1 p.m.; (to clean the public halls and the public portions of the building which are used common by all tenants. Tenant shall, at Tenant's expense, keep the demised premises, including the windows, clean and in order, to the satisfaction of Owner, and for the purpose shall employ the person or persons, or corporation reasonably acceptable to Owner. Tenant shall pay to Owner the cost of removal of any of Tenant's refuse and rubbish from the building. Bills for the same shall be rendered by Owner to Tenant at such time Owner may elect and shall be due and payable hereunder, and the amount of such xxxx shall be deemed to be, and be paid as, additional rent. Tenant shall, however, have the option of independently contracting for removal of such rubbish and refuse in the event that Tenant does not want to have same done by employees of Owner. Under such circumstances however, the removal of such refuse and rubbish by others shall be subject to such rules and regulations as, in the judgment of Owner, if necessary for the proper operation of the building. Owner reserves the right to stop service of the heating, elevator, plumbing and electric terms, when necessary, by reason of accident, or emergency, or repairs, alterations, replacements or improvements, in the judgment of Owner desirable or necessary to be made, and said repairs, alterations, replacements or improvements shall have been completed. If the building of which the demised premises are a part supplies manually operated elevator service, Owner may proceed with alterations necessary to substitute automatic control elevator service upon ten (10) day written notice. Tenant without in any way affecting the obligations of Tenant hereunder provided that the same shall be done with the minimum amount of inconvenience to Tenant, and Owner pursues with due diligence the completion of the alterations. SECURITY: 32. Tenant has deposited with Owner the sum of $ as security for the faithful performance and observance by Tenant of the terms, provisions and condition of this lease; it is agreed that in the event Tenant defaults in respect of any of the terms, provisions and condition of this lease, including, but not limited to, the payment of rent and additional rent, Owner may use, apply or retain the whole or any part of the security so deposited to the extent required for the payment of any rent and additional rent or any other sum as to which tenant is in default or for any sum which Owner may expend or may be required to expend by reason of Tenant's default in respect of any of the terms, covenants and conditions of this lease, including but not limited to, any damages or deficiency in the re-letting of the premises, whether such damages or deficiency accrued before or after summary proceedings or other re-entry by Owner. In the event that Tenant performs any Alterations in the Demised Premises, Tenant, as part of such Alterations, shall be required to (x) install a sprinkler system in the Demised Premises to the extent not theretofor installed fully and (y) make all modifications to any existing sprinkler system necessary in connection with such Alterations, and in connection with the foregoing the following provisions of this Section shall apply: (i) such sprinkler system and/or modifications thereto shall faithfully comply with all applicable lawsof the terms, ordersprovisions, rules covenants and regulations; (ii) conditions of this lease, the supplying and installing of any such sprinkler system and/or modifications thereto security shall be made in accordance with returned to tenant after the provisions date fixed as the end of this Lease, including but not limited to the provisions Lease and after delivery of this Article and Article 6 and entire possession of the type, brand, location and manner of installation of such sprinkler system and/or modifications thereto shall be subject demised premises to Owner's prior approval; . In the event of a sale of the land and (iii) Tenant shall make all repairs and replacementsbuilding or easing of the building, as and when necessary, to such sprinkler system including any modifications thereto and any replacements thereof. Notwithstanding of which the aforesaid provisions of this Sectiondemised premises form a part, Owner shall have the election of supplying right to transfer the security to the vendee or lessee and installing such sprinkler system and/or modifications thereto either Owner shall thereupon be released by itself or by its agents or contractors, in which event Tenant from all costs and expenses incurred by Owner in connection with supplying and installing such sprinkler system and/or modifications thereto and any repairs or replacements liability for the return of such sprinkler system as security; and Tenant agrees to look to the same may be modified new Owner solely for the return of said security, and any replacements thereof it is agreed that the provisions hereof shall apply to every transfer or assignment made by of the security to a new Owner, at Owner's election, Tenant further covenants that it will not assign or encumber or attempt to assign or encumber the monies deposited herein as security and that neither Owner nor its successor or assigns shall be paid bound by Tenant to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. In addition to paying all costs and expenses in connection with the supplyingany such assignment, installing and modifying of such sprinkler systemencumbrance, Tenant shall pay to Owner, for each floor of the Building on which any portion of the Demised Premises is located, a fee equal to Tenant's pro rata share of all of the costs and expenses incurred by Owner, if any, in supplying and installing a "common sprinkler header" on such floor which pro rata share shall be a fraction in which the numerator shall be the number of rentable square feet of that portion of the Demised Premises located on such floor and the denominator shall be the number of rentable square feet on such floor, provided however, that notwithstanding anything contained in this Section to the contrary, Owner shall have no obligation to install such "common sprinkler header" on any floor of the Building which shall be entirely demised to Tenant. Such fee shall be payable to Owner within ten (10) days next following the rendition of a statement thereof by Owner to Tenant. Notwithstanding anything contained in this Lease to the contrary, such sprinkler system, attempted assignment or any replacement thereof and any modifications and/or installations in connection therewith, whether made by Tenant or Owner, shall upon expiration or sooner termination of the Demised Term be deemed the property of Ownerattempted encumbrance.

Appears in 1 contract

Samples: Commencement Date Agreement (Pivot Rules Inc)

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