Abatement of Rent. In the event that Tenant is prevented from using the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.
Appears in 3 contracts
Samples: Lease Agreement (St John Knits International Inc), Agreement for Purchase and Sale and Lease of Property (St John Knits International Inc), Lease Agreement (St John Knits International Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof; provided, however, in the proportion event that Tenant is prevented from using, and does not use, a portion of the floor area Premises, and as result thereof it is commercially impractical for Tenant to use all or a portion of the remaining Premises (i.e., the portion of the Premises that Tenant is prevented from using (“Unusable Area”actually able to use), and if Tenant does not conduct its business from the remaining Premises or portion thereof, then for such time during which it is impractical for Tenant to conduct its business therein, the Base Rent, Tenant’s Share of Direct Expenses, and Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall also be abated for the remaining Premises (or portion thereof) that Tenant does not use. If, however, Tenant reoccupies any portion of the Premises during such period, the Base Rent, Tenant’s Share of Direct Expenses, and Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total floor rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. If Landlord has not cured such To the extent an Abatement Event within one hundred eighty (180) days after receipt is caused by an event covered by Articles 11 or 13 of written notice from this Lease, then Tenant, Tenant shall have the ’s right to terminate this Lease during xxxxx rent shall be governed by the first ten (10) business days of each calendar month following the end terms of such 180-day period until such time Article 11 or 13, as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodapplicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord . Except as expressly provided in this Section 19.5.2 or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeelsewhere in this Lease, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 3 contracts
Samples: Office Lease (Square, Inc.), Office Lease (Square, Inc.), Office Lease (Square, Inc.)
Abatement of Rent. In Notwithstanding anything to the contrary set forth in this Lease, in the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Basic Rent, Tenant’s Percentage of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Basic Rent and Tenant, Tenant ’s Percentage of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 23 or 24 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 23 or 24, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Basic Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Percentage of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 25.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 3 contracts
Samples: Office Building Lease (Cirius Therapeutics, Inc.), Office Building Lease (Cirius Therapeutics, Inc.), Office Building Lease (Cirius Therapeutics, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; , which substantially interferes with Tenant’s use of the Premises, or (ii) the presence ofany failure by Landlord to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises required by this Lease to be provided by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. Tenant shall not have a right to receive an abatement of Rent if Tenant is otherwise entitled to receive proceeds from business interruption insurance that Tenant is obligated to carry pursuant to Section 10.3.3 above. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 3 contracts
Samples: Lease Agreement, Lease (Synthorx, Inc.), Lease (Synthorx, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and either (A) Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event or (B) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Office Lease (Rockley Photonics Holdings LTD), Lease Agreement (Kalobios Pharmaceuticals Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Rent Commencement Date and required by this Lease, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection witheach as a direct result of Landlord’s, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct or breach of this Lease (and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (any such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) daysapplicable thereto. Except as provided in this Section 19.5.2, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Lease (Aligos Therapeutics, Inc.), Lease (Allogene Therapeutics, Inc.)
Abatement of Rent. Notwithstanding anything to the contrary set forth in Section 19.5.1 of this Lease, In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and either (A) Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event or (B) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereofthereof (but subject to the terms of Section 7.2, if applicable), in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date applicable to the Initial Premises and required by this Lease, which substantially interferes with Tenant’s use of or ingress to or egress from the Building or the Parking Structure; (ii) any failure by Landlord to provide services, utilities or ingress to and egress from the Building (including the Parking Structure), or Premises as required by this Lease; (iii) damage and destruction of or eminent domain proceedings in connection with the Building or the Parking Structure, or (iiiv) the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials not brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct Tenant Parties (any such set of circumstances as set forth in items (i) through (iiiiv), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Xxxxxxxx’s receipt of any such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (provided Landlord is sent a notice pursuant to Section 29.18 of this Lease of each such Abatement Event) (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Xxxxxx’s Share of Direct Expenses and Tenant’s obligation to pay for parking (to the extent not actually utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“Unusable Area”), bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, the Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein (in Tenant’s reasonable judgment), the Base Rent and Tenant’s Share of Direct Expenses for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Xxxxxx’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy at law or in equity to xxxxx Rent for an Abatement Event; provided, however, that (a) nothing in this Section 19.5.2, shall impair Tenant’s rights under Section 19.5.1, above, and (b) if Landlord has not cured such Abatement Event within one two hundred eighty seventy (180270) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten five (105) business days of each calendar month following the end of such 180270-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten five (105) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. TenantNotwithstanding anything contained in this Section 19.5.2 to the contrary, Xxxxxx’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. If Tenant’s right to abatement occurs because of an eminent domain taking, condemnation and/or because of damage or destruction to the Premises and/or the Parking Structure, Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient ingress to, and egress from the Premises, to rebuild such portion it is required to rebuild, to install its property, furniture, fixtures, and equipment to the extent the same shall have been removed as a result of such damage or destruction or temporary taking and to move in over a weekend, To the extent Tenant is entitled to abatement because of an event covered by Articles 11 or 13 of this Lease, then the Eligibility Period shall not be applicable. If Xxxxxx’s right to abatement occurs during any period of Base Rent Abatement, Tenant’s period of Base Rent Abatement shall be extended for the number of days that the abatement period overlapped the free Base Rent period (“Overlap Period”). Landlord shall have the right to extend the Lease Expiration Date for a period of time equal to the Overlap Period if Landlord sends a notice to Tenant of such election within ten (10) days following the end of the extended free Base Rent period. Except as provided in this Section 19.5.2 or elsewhere in this Lease, nothing contained herein shall be interpreted to mean that Xxxxxx is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Office Lease (ServiceTitan, Inc.), Office Lease (ServiceTitan, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; , which substantially interferes with Tenant's use of the Premises, or (ii) the presence ofany failure by Landlord to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises required by this Lease to be provided by Landlord or as a Landlord Party; or result of circumstances within Landlord's control (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10the "Eligibility Period") non-consecutive business days in a twelve (12) month period (in either and Landlord does not diligently commence and pursue to completion the remedy of such events, the “Eligibility Period”)Abatement Event, then the Base Rent and Additional Rent Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant's right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery Tenant's Share of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Direct Expenses shall be null Tenant's sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 6.5, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Partial Lease Termination Agreement and First Amendment to Lease (Zentalis Pharmaceuticals, Inc.), Lease Agreement (Zentalis Pharmaceuticals, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using If the Premises or the Building are damaged by fire or other casualty, Basic Rent and Escalation Charges payable by Tenant shall xxxxx proportionately for the period from the date of such fire or other casualty until the earlier of (a) the date that Landlord substantially completes Landlord’s Restoration Work (provided, that if Landlord would have completed Landlord’s Restoration Work at an earlier date but for Tenant having failed to cooperate with Landlord in effecting such Work or collecting insurance proceeds, then the Premises shall be deemed to have been repaired and restored on such earlier date and the abatement shall cease), or (b) the date Tenant or any material portion thereof (meaning that Tenant is unable to use that subtenant reoccupies any portion of the Premises (in which case the normal course Basic Rent and Escalation Charges allocable to such reoccupied portion shall be payable by Tenant from the date of its business) as a result of such occupancy). Notwithstanding any provision contained in this Lease to the contrary, (i) there shall be no abatement with respect to any repairportion of the Premises which has not been rendered untenantable by reason of fire or other casualty and which is accessible, maintenance whether or alteration negligently performed by Landlordnot other portions of the Premises are untenantable, or which Landlord failed to perform, as required by this Lease; or and (ii) any abatement of Basic Rent or Escalation Charges applicable to any portion of the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought Premises which was rendered untenantable by reason of a casualty shall cease on the Premises by Landlord or a Landlord Party; earliest of the dates referred to in clauses (a) or (iiib) cessation of utilities the preceding sentence provided such portion is accessible, whether or services caused by not other portions of the Premises remain untenantable. Landlord’s negligence or willful misconduct (any such set determination of circumstances as set forth in items (i) through (iii), above, the date Landlord’s Restoration Work to the Premises shall have been substantially completed shall be known as an “Abatement Event”), then controlling unless Tenant shall give disputes same by notice to Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for given within ten (10) non-consecutive business days in a twelve (12) month period (in either Business Days after such determination by Landlord, and pending resolution of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenantdispute, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord pay Basic Rent and Escalation Charges in accordance with Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (determination. If the “Abatement Event Termination Notice”) during such ten (10) business-day period, and Premises shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery affected by any exercise of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice power of eminent domain, Basic Rent and Escalation Charges payable by Tenant shall be null justly and void (but only in connection with equitably abated and reduced according to the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt nature and extent of the Abatement Event Termination Noticeloss of use thereof suffered by Tenant. In no event shall Landlord have any liability for damages to Tenant for inconvenience, annoyance, or interruption of business arising from any fire or other casualty or eminent domain.
Appears in 2 contracts
Samples: Lease (Enova International, Inc.), Lease Agreement (Enova International, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, and required by this Lease, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection witheach as a direct result of Landlord’s, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct or breach of this Lease (and except to the extent such failure is caused by the action or inaction of Tenant) (any such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Xxxxxx’s Share of Direct Expenses, and Additional Rent Tenant’s obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking, if any, shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If Landlord has If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. In addition, if, as a result of an Abatement Event, Tenant is prevented from using, and does not cured such Abatement Event within one hundred eighty use, the Premises or any portion thereof for a continuous period of seventy five (18075) days after receipt of written notice from Tenantdays, then Tenant shall have the right to terminate this Lease during the first upon ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ written notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (, in which event this Lease shall terminate upon the “Abatement Event Termination Notice”) during expiration of such ten (10) business-day period unless such use is restored within such ten (10) day period. In the event of any Abatement Event, Landlord shall diligently pursue the remedy of the same as promptly as possible. To the extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then Xxxxxx’s right to xxxxx rent shall be governed by the terms of such Article 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) daysapplicable thereto. Except as provided in this Section 19.5.2, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by Tenant with respect interpreted to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticemean that Xxxxxx is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Lease (Septerna, Inc.), Lease (Septerna, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of of: (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as perform after the Lease Commencement Date and was required by this Lease; Lease to perform (and for which is in the reasonable control of Landlord) and which substantially interferes with Tenant’s use of the Premises, or (ii) the presence ofany failure to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises as required to be provided by Landlord or a by this Lease and such failure is within the reasonable control of Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “‘‘Abatement Event”), then Tenant shall give Landlord written notice of such Abatement EventEvent (“Abatement Event Notice”), and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten Abatement Event Notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after the expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice the Abatement Event Notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ written notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such no later than ten (10) businessdays following the end of such 180-day period. To the extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such Article 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses and to terminate this Lease as set forth above shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement or termination at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.6, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Office Lease (Spinal Elements Holdings, Inc.), Office Lease (Spinal Elements Holdings, Inc.)
Abatement of Rent. In If (i) Landlord fails to perform the event that Tenant is prevented from using obligations required of Landlord under the Premises TCCs of this Lease, (ii) such failure causes all or any material portion thereof (meaning that Tenant is unable to use that a portion of the Premises in the normal course of its business) as a result of (i) any repairto be untenantable and unusable by Tenant, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or and (iii) cessation such failure relates to (A) the nonfunctioning of utilities the heat, ventilation, and air conditioning system in the Premises, the electricity in the Premises, the nonfunctioning of the elevator service to the Premises, or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items B) a failure to provide access to the Premises, Tenant shall give Landlord notice (i) through (iiithe “Initial Notice”), above, specifying such failure to be known as an perform by Landlord (the “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty three (1803) business days after the receipt of written notice from Tenantthe Initial Notice (the “Eligibility Period”), Tenant shall have may deliver an additional notice to Landlord (the right “Additional Notice”), specifying such Abatement Event and Tenant’s intention to terminate xxxxx the payment of Rent under this Lease during the first ten Lease. If Landlord does not cure such Abatement Event within three (103) business days of each calendar month following receipt of the end of such 180-day period until such time as Landlord has cured the Abatement EventAdditional Notice, which right may be exercised only by delivery of thirty (30) days’ Tenant may, upon written notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (, immediately xxxxx Rent payable under this Lease for that portion of the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, Premises rendered untenantable and not more than one used by Tenant, for the period beginning on the date three (13) year, following business days after the delivery Initial Notice to the earlier of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if date Landlord or Landlord’s Lender(s) cures such Abatement Event within or the date Tenant recommences the use of such thirty (30) day period following receipt portion of the Premises. Such right to xxxxx Rent shall be Tenant’s sole and exclusive remedy at law or in equity for a Abatement Event Termination NoticeEvent. Except as provided in this Section 6.4, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Office Lease (Appdynamics Inc), Office Lease (Appdynamics Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure of Landlord to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement EventEvent (which notice, for the purpose of determining the effective date of delivery, will be deemed given when delivered to the Project’s property management office during regular business hours), and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Office Lease (Dropbox, Inc.), Office Lease (Dropbox, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Lease (Decipher Biosciences, Inc.), Lease (Decipher Biosciences, Inc.)
Abatement of Rent. In If the event that Tenant is prevented from using the Leased Premises or any material portion thereof (meaning that Tenant is unable damaged or destroyed by fire or by other casualty against which the Landlord is required to use insure under this Lease, Rent shall xxxxx in proportion to the area of that portion of the Leased Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereofwhich, in the proportion that reasonable opinion of the floor Landlord, is thereby rendered unfit for the purposes of the Tenant bears to the area of the portion of the entire Leased Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with to the first notice sent extent to which the Landlord actually receives proceeds under its loss of rental income insurance) until the Leased Premises are repaired and rebuilt as certified by Tenant with respect to each separate Abatement Event) if Landlord or the Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt Architect and the Landlord agrees that it will, with reasonable diligence, repair and rebuild the Leased Premises, subject to Section 11.02. The Landlord’s obligation to rebuild and restore the Leased Premises shall not include the obligation to rebuild, restore, replace or repair any movable, fixture or Leasehold Improvements or any other thing that is the property of the Abatement Event Termination NoticeTenant and/or for which the Tenant is to maintain insurance under paragraph (b) of Section 9.01 (in this Section collectively called “Tenant’s Improvements”); the Leased Premises shall be deemed repaired and rebuilt when the Landlord’s Architect certifies that it has been substantially repaired and rebuilt to the state where the Tenant could occupy it for the purpose of rebuilding, restoring, replacing or repairing the Tenant’s Improvements. The issuance of the certificate of the Landlord’s Architect shall not relieve the Landlord of its obligation to complete the repairing and rebuilding as aforesaid, but the Tenant shall forthwith after issuance of such certificate proceed to rebuild, restore, replace and repair the Tenant’s Improvements, and the provisions of Section 6.03 shall apply to such work, mutatis mutandis.
Appears in 2 contracts
Samples: Lease (Repare Therapeutics Inc.), Lease (Repare Therapeutics Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation any “Renovations,” as that term is defined in Section 29.29 of utilities or services caused by Landlord’s negligence or willful misconduct this Lease (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive rent abatement remedy at law or in equity for an Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord . Except as provided in this Section 19.5.2 and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date otherwise specifically set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”)this Lease, which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Office Lease (Connecture Inc), Office Lease (Connecture Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the applicable Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure of Landlord to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement EventEvent (which notice, for the purpose of determining the effective date of delivery, will be deemed given when delivered to the Project’s property management office during regular business hours), and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Lease Agreement (Dropbox, Inc.), Lease Agreement (Dropbox, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection witheach as a direct result of Landlord's, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct or breach of this Lease (and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (any such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant's right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) daysapplicable thereto. Except as provided in this Section 6.3, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 2 contracts
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, or the Supplemental Areas (meaning that Tenant is unable to use that or Supplemental Equipment) or any portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s breach of this Lease or the negligence or willful misconduct of Landlord or its contractors, licensees or invitees or casualty or condemnation (or any such set other event covered by Articles 10 or 12 of circumstances as set forth in items this Lease, other than with respect to the Supplemental Equipment) (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall may give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord’s receipt of any such written notice, or occurs for ten seven (107) non-consecutive business days (whether or not consecutive) in a twelve three (123) consecutive month period (in either of such events, the “Eligibility Period”), then (a) Rent for the Base Rent and Additional Rent Premises shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, thereof in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“Premises Unusable Area”), bears to the total floor rentable area of the Premises. If Landlord has , and (2) Rent for the Supplemental Areas for which Tenant is required to pay Rent under this Lease, if any, shall be abated after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using, and does not cured use, such Abatement Event within one hundred eighty (180) days after receipt Supplemental Areas, or a portion thereof, in the proportion that the rentable area of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end portion of such 180-day Supplemental Areas for which Tenant is required to pay Rent and that Tenant is prevented from using, and does not use (“SA Unusable Area”), bears to the total rentable area of such Supplemental Areas for which Tenant is required to pay Rent; provided, however, (i) in the event that Tenant is prevented from using, and does not use, the Premises Unusable Area for a period until of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Rent for the entire Premises shall be abated for such time as Landlord has cured the Abatement Event, which right may Tenant continues to be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodso prevented from using, and does not use, the Premises, and (ii) in the event that Tenant is prevented from using, and does not use, the SA Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the applicable Supplemental Areas for which Tenant is required to pay Rent under this Lease is not sufficient to allow Tenant to effectively conduct its business or operate its Supplemental Equipment therein, and if Tenant does not conduct its business or operate its Supplemental Equipment from such remaining portion of such Supplemental Areas, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business or operating its Supplemental Equipment therein, the Rent for such entire affected Supplemental Areas for which Tenant is required to pay Rent shall be effective abated for such time as Tenant continues to be so prevented from using, and does not use, such Supplemental Areas for which Tenant is required to pay Rent. To the extent Tenant is entitled to abatement because of a date set forth in an event covered by Articles 10 or 12 of this Lease, then the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeapplicable.
Appears in 2 contracts
Samples: Lease Agreement (CoreSite Realty Corp), Lease (CoreSite Realty Corp)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and either (A) Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event or (B) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event, then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Lease (Inhibrx, Inc.), Consent to Sublease Agreement (Audentes Therapeutics, Inc.)
Abatement of Rent. Lessee's Remedies,
(a) In the event that Tenant is prevented from using the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; Premises Partial Damage or (ii) Hazardous Substance Condition for which Lessee is not legally responsible, the presence ofBase Rent. Common Area Operating Expenses and other charges, if any, payable by Lessee hereunder for the period during which such damage or cleanup condition, its repair, remediation or remediation activities restoration continues, shall be abated in connection with, Hazardous Materials brought on proportion to the degree to which Lessee's use of the Premises is impaired, but not in excess of proceeds from insurance required to be carried under Paragraph 8.3(b). Except for abatement of Base Rent, Common Area Operating Expenses and other charges, if any, as aforesaid, all other obligations of Lessee hereunder shall be performed by Landlord or a Landlord Party; or (iii) cessation Lessee, and Lessee shall have no claim against Lessor for any damage suffered by reason of utilities or services caused by Landlord’s negligence or willful misconduct (any such set damage, destruction, repair. remediation or restoration.
(b) if Lessor shall be obligated to repair or restore the Premises under the provisions of circumstances as set forth this Paragraph 9 and shall not commence, in items a substantial and meaningful way, the repair or restoration of the Premises within ninety (i90) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such noticeobligation shall accrue, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either Lessee may, at any time prior to the commencement of such eventsrepair or restoration, give written notice to Lessor and to any Lenders of which Lessee has actual notice of Lessee's election to terminate this Lease on a date not less than sixty (60) days following the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration giving of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premisesnotice. If Landlord has Lessee gives such notice to Lessor and such Lenders and such repair or restoration is not cured such Abatement Event commenced within one hundred eighty thirty (18030) days after receipt of written notice from Tenant, Tenant shall have the right to terminate such notice. this Lease during shall terminate as of the first ten (10) business days date specified in said notice. If Lessor or a Lender commences the repair or restoration of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of Premises within thirty (30) days’ notice to Landlord days after the receipt of such notice, this Lease shall continue in full force and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (effect. "Commence" as used in this Paragraph 9.6 shall mean either the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery unconditional authorization of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt preparation of the Abatement Event Termination Noticerequired plans, or the beginning of the actual work on the Premises, whichever occurs first.
Appears in 2 contracts
Samples: Lease Agreement (Futon World Inc), Lease Agreement (Futon World Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, (ii) any “Renovations”, as that term is defined in Section 29.29 of this Lease, which substantially interferes with Tenant’s use of the Premises, or (iii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i), (ii) through or (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 19.5, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Office Lease (Motricity Inc), Office Lease (Motricity Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in for the normal course conduct of its business) , as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by the Lease, (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation any “Renovations,” as that term is defined in Section 29.29 of utilities or services caused by Landlord’s negligence or willful misconduct this Lease (any such set of circumstances as set forth in items (i), (ii) through or (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, notice or occurs for ten five (105) non-consecutive business days in a any twelve (12) month months’ period (in either provided Landlord is sent a notice pursuant to Section 29.18 of this Lease of each such events, Abatement Event) (the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises for the normal conduct of its business during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive rent abatement remedy at law or in equity for an Abatement Event. Except as provided in this Section 19.5.2, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Office Lease (Apptio Inc), Office Lease (Apptio Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, or the Supplemental Areas (meaning that Tenant is unable to use that or Supplemental Equipment) or any portion of the Premises in the normal course of its business) thereof, as a result of Landlord’s breach of this Lease (i) any repair, maintenance or alteration negligently performed Landlord’s breach of the Master Lease which is not caused by Landlord, or which Landlord failed to perform, as required by Tenant’s breach of this Lease; ) or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct of Master Landlord or Landlord or any of their respective contractors, licensees or invitees or casualty or condemnation (or any such set other event covered by Articles 10 or 12 of circumstances as set forth in items this Lease, other than with respect to the Supplemental Equipment) (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall may give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord’s receipt of any such written notice, or occurs for ten seven (107) non-consecutive business days (whether or not consecutive) in a twelve three (123) consecutive month period (in either of such events, the “Eligibility Period”), then (a) Rent for the Base Rent and Additional Rent Premises shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“Premises Unusable Area”), bears to the total floor rentable area of the Premises. If Landlord has , and (2) Rent for the Supplemental Areas for which Tenant is required to pay Rent under this Lease, if any, shall be abated after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using, and does not cured use, such Abatement Event within one hundred eighty (180) days after receipt Supplemental Areas, or a portion thereof, in the proportion that the rentable area of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end portion of such 180-day Supplemental Areas for which Tenant is required to pay Rent and that Tenant is prevented from using, and does not use (“SA Unusable Area”), bears to the total rentable area of such Supplemental Areas for which Tenant is required to pay Rent; provided, however, (i) in the event that Tenant is prevented from using, and does not use, the Premises Unusable Area for a period until of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Rent for the entire Premises shall be abated for such time as Landlord has cured the Abatement Event, which right may Tenant continues to be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodso prevented from using, and does not use, the Premises, and (ii) in the event that Tenant is prevented from using, and does not use, the SA Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the applicable Supplemental Areas for which Tenant is required to pay Rent under this Lease is not sufficient to allow Tenant to effectively conduct its business or operate its Supplemental Equipment therein, and if Tenant does not conduct its business or operate its Supplemental Equipment from such remaining portion of such Supplemental Areas, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business or operating its Supplemental Equipment therein, the Rent for such entire affected Supplemental Areas for which Tenant is required to pay Rent shall be effective abated for such time as Tenant continues to be so prevented from using, and does not use, such Supplemental Areas for which Tenant is required to pay Rent. To the extent Tenant is entitled to abatement because of a date set forth in an event covered by Articles 10 or 12 of this Lease, then the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeapplicable.
Appears in 2 contracts
Samples: Lease (CoreSite Realty Corp), Lease (CoreSite Realty Corp)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by the Lease, which substantially interferes with Tenant’s use of the Premises, (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation any “Renovations,” as that term is defined in Section 29.31 of utilities this Lease, or services caused by Landlord’s negligence or willful misconduct (any iv) damage and destruction under Article 11 of this Lease (such set of circumstances as set forth in items (i) through ), (ii), (iii) or (iv), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, notice (or occurs for ten such shorter period to the extent that any resulting rent abatement on such shorter period is covered by Landlord’s insurance policies) (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant’s Share of Direct Expenses for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If Landlord has not cured If, however, Tenant reoccupies (other than to effectuate repairs or reinstate its FF&E and personal property) any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies (other than to effectuate repairs or reinstate its FF&E and personal property) such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses and Tenant’s obligation to pay for parking shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event within one hundred eighty (180) days after receipt of written notice from except for Tenant, Tenant shall have the ’s right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time for a Landlord Default or under Articles 11 or 13. Except as Landlord has cured the Abatement Eventprovided in Article 11, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodArticle 13, and Section 19.5.2, nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 2 contracts
Samples: Sublease Agreement (Oportun Financial Corp), Sublease Agreement (Oportun Financial Corp)
Abatement of Rent. In Notwithstanding the foregoing or anything in this Lease to the contrary, in the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, for three (meaning that Tenant is unable to use that portion of 3) consecutive business days or ten (10) business days in any twelve (12) month period (the Premises in the normal course of its business“Eligibility Period”) as a result of (i) any repair, maintenance or alteration negligently performed by LandlordLandlord after the Commencement Date that substantially interferes with Tenant’s use of the Premises, or which Landlord failed to performthe parking facility and/or the Building, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises any failure by Landlord to provide Tenant with services or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii)access to the Premises, above, to be known as an “Abatement Event”)the Parking Facility and/or the Building, then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Tenant’s Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has However, in the event that Tenant is prevented from conducting, and does not cured conduct, its business in any portion of the Premises for a period of time in excess of the Eligibility Period, and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from Tenanteffectively conducting its business therein, the Rent for the entire Premises shall be abated; provided, however, if Tenant shall have reoccupies and conducts its business from any portion of the right Premises during such period, the Rent allocable to terminate this Lease during such reoccupied portion, based on the first ten (10) business days of each calendar month following proportion that the end rentable area of such 180-day period until such time as Landlord has cured reoccupied portion of the Abatement EventPremises bears to the total rentable area of the Premises, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent payable by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures from the date such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticebusiness operations commence.
Appears in 2 contracts
Samples: Lease Agreement (Redwood Trust Inc), Lease Agreement (Redwood Trust Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Commencement Date and required by this Lease; , which substantially interferes with Tenant’s use of the Premises, or (ii) the presence ofany failure to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, notice or occurs for ten (10) non-consecutive business days after Landlord’s receipt of any such notice in a any twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Proportionate Share of Operating Costs shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Proportionate Share of Operating Costs for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Proportionate Share of Operating Costs shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 44, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as interpreted to mean that Tenant is excused from paying Rent due hereunder. To the extent Tenant is entitled to abatement without regard to the Eligibility Period, because of a date set forth in an event covered by Articles 8 (Fire or Casualty Damage) or 14 (Eminent Domain) of this Lease, then the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeapplicable.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by LandlordLandlord (including repairs, maintenance and alterations required or permitted by Landlord hereunder), or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of or ingress to or egress from the Building, Project, or Premises or the Project parking facility; or (ii) any failure to provide services, utilities or ingress to and egress from the Building, Project, or Premises or the Project parking facility; (iii) damage and destruction of or eminent domain proceedings in connection with the Premises, Building, the Project or the Project parking facility servicing the Project, or (iv) the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials (not brought on the Premises by Landlord Tenant Parties) in violation of Applicable Laws which poses a material health risk to the environment or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct the Premises (any such set of circumstances as set forth in items (i) through (iiiiv), above, to be known as an “Abatement Event”"ABATEMENT EVENT"), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such noticeNotice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (provided Landlord is sent a Notice pursuant to Section 29.14 of this Lease of each of such Abatement Event) (in either of such events, the “Eligibility Period”"ELIGIBILITY PERIOD"), then the Base Rent and Additional Rent Tenant's Share of Direct Expenses and Tenant's parking charges shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“Unusable Area”"UNUSABLE AREA"), bears to the total floor rentable area of the Premises. If Premises and Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from shall pay to Tenant, to the extent covered (except for any deductible amount) by insurance retained by Landlord, any incremental reasonable, out of pocket expense that the Tenant incurs in relocating the functions previously performed in the Unusable Area to a different location. For this purpose, an incremental expense shall be any expense that the Tenant incurs in relocating from the Unusable Area to a temporary location and then relocating back to the Unusable Area (after such area has been made fit for Tenant's Permitted Use) that Tenant would not have had to incur but for such relocation; provided, however, in the right event that Tenant is prevented from using, and does not use, the Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to terminate this Lease allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the first ten (10) business days Base Rent and Tenant's Share of each calendar month following Direct Expenses and Tenant's parking charges for the end of such 180-day period until entire Premises shall be abated for such time as Landlord has cured the Abatement Event, which right may Tenant continues to be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodso prevented from using, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”)does not use, which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.the
Appears in 1 contract
Samples: Office Lease (Etoys Inc)
Abatement of Rent. In Except as otherwise expressly provided in this Lease, in the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any damage or destruction to the Premises or any repair, maintenance or alteration negligently performed by LandlordLandlord after the Lease Term Commencement Date and required by the Lease, which substantially interferes with Tenant’s use of the Premises, or which Landlord failed to performthe failure of any utility for any cause except that of Tenant or anyone acting under Tenant, as required by this Lease; or (ii) because of an eminent domain proceeding or because of the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials brought in, on or around the Building, the Premises by Landlord or the Lot which could, in Tenant’s reasonable business judgment with respect to Hazardous Materials pose a Landlord Party; or (iii) cessation health risk to occupants of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”)the Premises, then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Tenant’s Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor Rentable Area. However, in the event that Tenant is prevented from conducting, and does not conduct, its business in any portion of the Premises for a period of time, and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time during which Tenant is so prevented from effectively conducting its business therein, the Rent for the entire Premises shall be abated in its entirety; provided, however, that if Tenant reoccupies and conducts its business from any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the PremisesPremises bears to the total Rentable Area, shall be payable by Tenant from the date such business operations commence. If Landlord has not cured Tenant’s right to abatement occurs during the Rent Free Period, such Abatement Event within one hundred eighty Rent Free Period shall be extended for the number of days that the abatement period overlapped the Rent Free Period (180) days after receipt of written notice from Tenant, the “Overlap Period”). Tenant shall have the right to terminate this extend the Lease during Term for a period of time equal to the first Overlap Period if Tenant sends a written notice to Landlord of such election within ten (10) business days of each calendar month following the end of such 180-day the extended Rent Free Period. If Tenant’s right to abatement occurs because of an eminent domain taking and/or because of damage or destruction to the Premises or Tenant’s property, Tenant’s abatement period shall continue until such time as Landlord Tenant has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodbeen given sufficient time, and shall be effective as sufficient access to the Premises, to rebuild the portion of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”)Premises it is required to rebuild, which Abatement Event Termination Date shall not be less than thirty (30) daysto install its property, furniture, fixtures, and not more than equipment and to move in over one (1) yearweekend. Subject to the provisions above, following Landlord shall not be in default hereunder or be liable for any damages directly or indirectly resulting from, nor shall the delivery Rent herein reserved be abated by reason of any failure to furnish or delay in furnishing any services required to be provided by Landlord when such failure or delay is caused by any condition beyond the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only reasonable control of Landlord, or, except as otherwise expressly provided in connection with Section 6.3, the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord limitation, curtailment, rationing or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt restriction on use of water or electricity, gas or any other form of energy or any other service or utility whatsoever serving the Abatement Event Termination NoticePremises or the Building.
Appears in 1 contract
Samples: Office Lease (Annie's, Inc.)
Abatement of Rent. In Provided Landlord can obtain, at commercially reasonable rates, rental interruption insurance for any of the circumstances set forth herein and provided further that Tenant recognizes and agrees that Landlord does not carry rental interruption insurance applying to certain utilities interruptions, then in the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, for five (meaning that Tenant is unable to use that portion of 5) consecutive business days or fifteen (15) business days in any twelve (12) month period (the Premises in the normal course of its business“Eligibility Period”) as a result of (i) any damage or destruction to the Premises and/or the Building, (ii) any repair, maintenance or alteration negligently performed by LandlordLandlord after the Commencement Date, or which substantially interferes with Tenant’s use of the Premises and/or the Building, (iii) any failure by Landlord failed to performprovide Tenant with access to the Premises and/or the Building, as required by this Lease; (iv) an eminent domain proceeding or (iiv) the presence ofof hazardous substances in, on or cleanup around the Premises, the Building or remediation activities in connection withthe Site which pose a health risk to occupants of the Premises, Hazardous Materials brought and which were not placed on the Site, Building or Premises by Landlord Tenant or a Landlord Party; or any Tenant Parties (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth that term is defined in items (i) through (iii), above, to be known as an “Abatement Event”Section 30.11.6 hereof), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Tenant’s Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be is so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. However, in the event that Tenant is prevented from conducting, and does not conduct, its business in any portion of the Premises for a period of time in excess of the Eligibility Period, and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for the time which Tenant is so prevented from effectively conducting its business therein, the Rent for the entire Premises shall be abated; provided, however, if Tenant reoccupies and conducts its business from any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date such business operations commence. If Landlord Tenant’s right to abatement occurs because of an eminent domain taking and/or because of damage or destruction to the Premises, the Building and/or Tenant’s property, Tenant’s abatement period shall continue until Tenant has not cured been given sufficient time, and sufficient access to the Premises and/or the Building, to rebuild such Abatement Event within one hundred eighty portion it is required to rebuild, but in no event for more than sixty (18060) days after receipt the date Landlord first provides Tenant with access to any portion of written notice from Tenantthe Premises to perform such work. To the extent Tenant is entitled to abatement without regard to the Eligibility Period, because of an event covered by Articles 13 (Damage or Destruction) and 14 (Eminent Domain) of the Lease, then the Eligibility Period shall not be applicable. To the extent Tenant has prepaid rent (as it does each month since Rent is due on the first day of each month) and Tenant is subsequently entitled to an abatement, such prepaid, and subsequently abated, Rent should be refunded to, and paid by Landlord to, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of within thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (days after the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery end of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeappropriate month.
Appears in 1 contract
Samples: Sublease Agreement (Responsys Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use (except for the maintenance of a skeleton crew within the Premises for such purposes as securing Tenant’s records and files, forwarding telephone communications, correspondence and deliveries, and otherwise enabling those aspects of Tenant’s business operations previously conducted within the Premises to be carried on from an alternative location), the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by the Lease, which materially and adversely interferes with Tenant’s use of the Premises, (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; Lease attributable to the negligent act or (ii) the presence ofomission of Landlord or its agents, employees, or cleanup or remediation activities in connection withrepresentatives, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation any “Renovations,” as that term is defined in Section 29.29 of utilities or services caused by Landlord’s negligence or willful misconduct this Lease (any such set of 35654\12546889.9 06907\011\8493037.v6 circumstances as set forth in items (i), (ii) through or (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period (except for the maintenance of a skeleton crew as provided above), the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to abate renx xxxll be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to abate Basx Xxxt and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive monetary remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord . Except as provided in this Section 19.5.2, or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticein Articles 11 or 13, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Penumbra Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; or , which substantially interferes with Tenant's use of the Premises, (ii) any failure to provide services, utilities or access to the Premises, (iii) damage and destruction of or eminent domain proceedings in connection with the Premises, the Project or the parking facility servicing the Project, or (iv) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials of hazardous materials not brought on the Premises by Landlord Tenant, its employees, agents, invitees or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct customers (any such set of circumstances as set forth in items (i) through (iiiiv), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation to pay for parking shall be abated or reduced, as the case may be, after expiration from the commencement of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time from the commencement of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Building Direct Expenses and Tenant's obligation to pay for parking for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to abatx Xxxe Rent, Tenant's Share of Direct Expenses, and Tenant's parking charges shall be Tenant's sole and exclusive remedy at law or in equity for an Abatement Event. If Tenant's right to abatement occurs because of an eminent domain taking and/or because of damage or destruction to the Premises, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to the Project's parking facility, and/or the Project, Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period's abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild such portion it is required to rebuild, to install its property, furniture, fixtures, and equipment to the extent the same shall have been removed as a result of such damage or destruction and to move in over a weekend. Except as provided in this Section 19.5.2, nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Artistdirect Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repairrepairs, maintenance or alteration negligently alterations performed by Landlord, or which Landlord failed to perform, as before or after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of or ingress to or egress from the Building, Project (including the Common Areas), or the Premises (including the Project parking areas to the extent reasonable replacement spaces are not provided); or (ii) the presence offailure by Landlord to provide necessary services, utilities, parking spaces (unless replacement parking spaces and reasonable accommodations associated therewith are *** Confidential portions of this document have been redacted and filed separately with the Commission. provided by Landlord), or cleanup ingress to and egress from the Building, Project (including the Common Areas), or remediation activities Premises as required pursuant to the TCCs of this Lease; or (iii) the presence of “Hazardous Materials” (as that term is defined in connection withSection 29.33.1, Hazardous Materials below) not brought on the Premises by Landlord “Tenant Parties,” as that term is set forth in Section 10.1 of this Lease, to the extent such presence substantially interferes with Tenant’s use of or a Landlord Party; ingress to or egress from the Building, Project (iiiincluding the Common Areas), or Premises (including the Project parking areas to the extent reasonable replacement spaces are not provided) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) or more consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then Tenant may deliver an additional notice to Landlord (the “Additional Notice”), specifying such Abatement Event and Tenant’s intention to xxxxx the payment of Rent under this Lease. If Landlord does not cure such Abatement Event within three (3) business days of receipt of such Additional Notice, then as Tenant’s sole remedy vis-à-vis such Abatement Event, the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period Period, for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that of the floor rentable area of the portion of the Premises that Tenant is prevented from using and does not use (“Unusable Area”), bears to . To the total floor area of the Premises. If Landlord has not cured such extent an Abatement Event within one hundred eighty (180) days after receipt is caused by an event covered by Articles 11 or 13 of written notice from this Lease, then the terms of such Article 11 or 13, as the case may be, shall govern Tenant, Tenant shall have the ’s right to terminate xxxxx rent and the terms of this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Section 3.2 shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeapplicable thereto.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Commencement Date and required by this the Lease; , which substantially interferes with Tenant's use of the Premises, or (ii) the presence ofany failure to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice (the "Abatement Notice") of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten on thirty (1030) non- consecutive days in any 12-month period (provided Landlord received notice of each such non-consecutive business days in a twelve Abatement Event) (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Basic Rent shall be abated or reduced, as the case may bebe (at the rate applicable to the portion of the Premises affected), after retroactive to the date of Landlord's receipt of the Abatement Notice (or in the case of a non-consecutive Abatement Event, for each subsequent occurrence of an Abatement Event following the expiration of the Eligibility Period Period) for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Basic Rent for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If Landlord has If, however, Tenant reoccupies any portion of the Premises during such period, the rent allocable to such reoccupied portion (at the rate applicable to such portion of the Premises), based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to axxxx Basic Rent shall be Tenant's sole and exclusive rental abatement remedy at law or in equity for an Abatement Event. Notwithstanding the foregoing, if, as a result of an Abatement Event, Tenant is prevented from using and does not cured such Abatement Event within use the Premises for a period of one hundred eighty (1801) days after receipt of written notice from Tenantyear, Tenant shall have the right to terminate this Lease during upon the first ten (10) business days delivery to Landlord of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of written notice thirty (30) days’ days prior to such termination (which notice may be given prior to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as expiration of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) yearyear period). Except as provided in this Section 19.5.2, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Activision Inc /Ny)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of of: (i) any repair, renovation, remodeling, maintenance or alteration negligently performed by Landlord, or any repair, renovation, remodeling, maintenance or alteration which is required by this Lease and which Landlord has failed to perform, as required by this Lease; which substantially interferes with Tenant’s use of, or access to, the Premises, (ii) any failure to provide services or access to the presence ofPremises, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation damage and destruction of utilities the Premises or services caused by Landlord’s negligence Building, or willful misconduct (any iv) the presence of “Hazardous Materials” (each such set of circumstances as set forth in items (i) through and (iiiiv), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two for(a) twenty-four (224) hours with respect to telecommunications services or (b) three (3) consecutive business days after Landlord’s receipt of any such notice, notice or occurs for ten seven (107) non-consecutive business days after Landlord’s receipt of any such notice in a any twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Monetary Obligations, shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from conducting its business therein, Tenant’s Monetary Obligations for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If If, however, Tenant reoccupies any portion of the Premises during such period, the Monthly Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Tenant’s Monetary Obligations and Tenant’s obligation to pay for parking shall be Tenant’s sole and exclusive remedy at law or in equity with regard to an abatement of Rent in connection with an Abatement Event; provided, however, that if Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from TenantTenant (or, in the event that the Premises or the Building are rendered inaccessible to Tenant by a casualty or act of Landlord, one hundred eighty (180) days following the date of Landlord’s actual knowledge of the occurrence of the Abatement Event), Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such one hundred eighty (180-) day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one six (16) yearmonths, following the delivery of the Abatement Event Termination Notice. Notwithstanding anything contained in this Section 30.16 to the contrary, Tenant’s Abatement Event Rent Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. If Tenant’s right to abatement occurs because of an eminent domain taking and/or because of damage or destruction to the Premises, Tenant’s abatement period shall continue until Tenant has been given sufficient time and sufficient access to the Premises to rebuild that portion of the Premises, if any, which it is required to rebuild pursuant to this Lease and to install its property, furniture, fixtures, and equipment and to move in over a weekend. To the extent Tenant is entitled to abatement without regard to the Eligibility Period, because of an event described in Article 14, above, then the Eligibility Period shall not be applicable. Notwithstanding the foregoing, Tenant shall not have the right to terminate this Lease pursuant to the terms of this Section 30.16, if, as of the date of delivery by Tenant of the Abatement Event Termination Notice, (a) the first trust deed holder of the Building (the “Bank”) has recorded a notice of default on the Building or filed a notice evidencing a legal action by the Bank against Landlord on the Building, and (b) the Bank diligently proceeds to gain possession of the Premises and, to the extent Bank does gain possession of the Premises, Bank shall diligently proceeds to cure such Abatement Event. Except as provided in this Section 30.16, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Aecom Technology Corp)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date applicable to the Premises and required by this Lease, which substantially interferes with Tenant’s use of or ingress to or egress from the Building, Project, or Premises or the Project parking facility; (ii) any failure to provide services, utilities or ingress to and egress from the Building, Project (including the Project parking facility), or Premises as required by this Lease; (iii) damage and destruction of or eminent domain proceedings in connection with the Premises, Building, the Project or the Project parking facility, or (iiiv) the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials not brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct Tenant Parties (any such set of circumstances as set forth in items (i) through (iiiiv), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (provided Landlord is sent a written notice pursuant to this Lease of each such Abatement Event) (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Expenses and Taxes, and Tenant’s obligation to pay for parking (to the extent not actually utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“Unusable Area”), bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, the Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant’s Share of Expenses and Taxes for the entire Premises and all parking charges (to the extent all parking is not actually utilized by Tenant) shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Expenses and Taxes and parking charges shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event; provided, however, that (a) nothing in this Section 19.4.2, shall impair Tenant’s rights under Section 19.4.1, above, and (b) if Landlord has not cured such Abatement Event within one two hundred eighty forty (180240) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period upon written notice to Landlord until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Notwithstanding anything contained in this Section 19.5.2 to the contrary, Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. If Tenant’s right to abatement occurs because of an eminent domain taking, condemnation and/or because of damage or destruction to the Premises, the Project’s parking facility, and/or the Project, Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient ingress to, and egress from the Premises, to rebuild such portion it is required to rebuild, to install its property, furniture, fixtures, and equipment to the extent the same shall have been removed as a result of such damage or destruction or temporary taking and to move in over a weekend. Except as provided in this Section 19.4.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by LandlordLandlord (including repairs, maintenance and alterations required or permitted by Landlord hereunder), or which Landlord failed to perform, after the Term Commencement Date and required by this Lease, which substantially interferes with Tenant's use of or ingress to or egress from the Building, Project, or Premises or the Project's parking facility; (ii) any failure to provide services, utilities or ingress to and egress from the Building, Project, or Premises or the Project parking facility as required by this Lease; (iii) damage and destruction of or eminent domain proceedings in connection with the Premises, Building, the Project or the Project's parking facility servicing the Project, or (iiiv) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials of hazardous materials (as defined by applicable law) (not brought on the Premises by Landlord Tenant Parties) in violation of Regulations which poses a material health risk to the environment or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct the Premises (any such set of circumstances as set forth in items (i) through (iiiiv), above, to be known as an “Abatement Event”"ABATEMENT EVENT"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten (10) non-consecutive nonconsecutive business days in a twelve (12) month period (provided Landlord is sent a notice of each of such Abatement Event) (in either of such events, the “Eligibility Period”"ELIGIBILITY PERIOD"), then the Base Rent and Additional Rent Tenant's Proportionate Share of Operating Expenses and Tenant's parking charges shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“Unusable Area”"UNUSABLE AREA"), bears to the total floor rentable area of the Premises and Landlord shall pay to Tenant, to the extent covered (except for any deductible amount) by insurance retained by Landlord any incremental reasonable, out-of-pocket expense that the Tenant incurs in relocating the functions previously performed in the Unusable Area to a different location. For this purpose, an incremental expense shall be any expense that the Tenant incurs in relocating from the Unusable Area to a temporary location and then relocating back to the Unusable Area (after such area has been made fit for Tenant's Permitted Use) that Tenant would not have had to incur but for such relocation; provided, however, in the event that Tenant is prevented from using, and does not use, the Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant's Proportionate Share of Operating Expenses and Tenant's parking charges for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. If Such right to abatx Xxxe Rent, Tenant's Proportionate Share of Direct Expenses and Tenant's parking charges shall be Tenant's sole and exclusive remedy at law or in equity for an Abatement Event; provided, however, that (a) nothing in this Paragraph 16.2.2, shall impair Tenant's rights under Paragraph 16.2.1, above, and (b) if Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ ' notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”"ABATEMENT EVENT TERMINATION NOTICE") during such ten (10) business-business day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”"ABATEMENT EVENT TERMINATION DATE"), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only Notwithstanding anything contained in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticethis Paragraph 16.
Appears in 1 contract
Samples: Office Lease (L90 Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of or ingress to or egress from the Premises (including the Project parking area to the extent commercially reasonable replacement spaces are not provided); or (ii) any failure by Landlord to provide services, utilities or ingress to and egress from the Premises as required by pursuant to the TCCs of this Lease; or (iiiii) the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials not brought on the Premises by Landlord "Tenant Parties," as that term is set forth in Section 10.1 of this Lease to the extent such presence substantially interferes with Tenant's use of or a Landlord Party; ingress to or egress from the Premises (iiiincluding the Project parking area to the extent commercially reasonable replacement spaces are not provided) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten Notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then then, as Tenant's sole remedy vis-a-vis such Abatement Event, the Base Rent and Additional Rent Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented (on a commercially reasonable basis) from using, and does not use (provided, however, to the extent Tenant continues a particular use even though it would otherwise be commercially unreasonable to continue such use, Tenant shall be deemed not to be using the applicable portion of the Premises), the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises Building that Tenant is prevented from using using, and does not use (“"Unusable Area”"), bears to the total floor rentable area of the PremisesBuilding. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided Tenant hereby acknowledge that, in addition to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date abatement rights set forth in this Section 3.2, Tenant's abatement rights following an event of damage and destruction or condemnation is provided pursuant to the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, TCCs of Articles 11 and not more than one (1) year, following the delivery 13 of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticethis Lease.
Appears in 1 contract
Samples: Office Lease (Anacomp Inc)
Abatement of Rent. Lessee's Remedies. ------------------------------------
(a) In the event that Tenant is prevented from using the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; Premises Partial Damage or (ii) Hazardous Substance Condition for which Lessee is not legally responsible, the presence ofBase Rent, Common Area Operating Expenses and other charges, if any, payable by Lessee hereunder for the period during which such damage or cleanup condition, its repair, remediation or remediation activities restoration continues, shall be abated in connection with, Hazardous Materials brought on proportion to the degree to which Lessee's use of the Premises is impaired, but not in excess of proceeds from insurance required to be carried under Paragraph 8.3(b). Except for abatement of Base Rent, Common Area Operating Expenses and other charges, if any, as aforesaid, all other obligations of Lessee hereunder shall be performed by Landlord or a Landlord Party; or (iii) cessation Lessee, and Lessee shall have no claim against Lessor for any damage suffered by reason of utilities or services caused by Landlord’s negligence or willful misconduct (any such set damage, destruction, repair, remediation or restoration.
(b) If Lessor shall be obligated to repair or restore the Premises under the provisions of circumstances as set forth this Paragraph 9 and Shall not commence, in items a substantial and meaningful way, the repair or restoration of the Promises within ninety (i90) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such noticeobligation shall accrue, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either Lessee may, at any time prior to the commencement of such eventsrepair or restoration, give written notice to Lessor and to any Lenders of which Lessee has actual notice of Lessee's election to terminate this Lease on a date not less than sixty (60) days following the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration giving of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premisesnotice. If Landlord has Lessee gives such notice to Lessor and such Lenders and such repair or restoration is not cured such Abatement Event commenced within one hundred eighty thirty (18030) days after receipt of written notice from Tenantsuch notice, Tenant shall have the right to terminate this Lease during shall terminate as of the first ten (10) business days date specified in said notice. If Lessor or a Lender commences the repair or restoration of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of Premises within thirty (30) days’ notice to Landlord days after the receipt of such notice, this Lease shall continue in full force and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (effect. "Commence" as used in this Paragraph 9.6 shall mean either the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery unconditional authorization of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt preparation of the Abatement Event Termination Noticerequired plans, or the beginning of the actual work on the Premises, whichever occurs first.
Appears in 1 contract
Samples: Lease Agreement (Critical Path Inc)
Abatement of Rent. In If the event that Tenant is prevented from using the Leased Premises or any material portion thereof (meaning that Tenant is unable damaged or destroyed by fire or by other casualty against which the Landlord is required to use insure under this Lease, Rent shall xxxxx in proportion to the area of that portion of the Leased Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereofwhich, in the proportion that reasonable opinion of the floor Landlord, is thereby rendered unfit for the purposes of the Tenant bears to the area of the portion entire Leased Premises and the Rent shall xxxxx entirely if fifty percent (50%) or more of the Leased Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void damaged or destroyed (but only in connection to the extent to which the Landlord actually receives proceeds under its loss of rental income insurance or which would have been received if the Landlord had complied with its obligations under Section 9.02) until the first notice sent Leased Premises are repaired and rebuilt as certified by Tenant with respect to each separate Abatement Event) if Landlord or the Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt Architect and the Landlord agrees that it will, with reasonable diligence, repair and rebuild the Leased Premises, subject to Section 11.02. The Landlord’s obligation to rebuild and restore the Leased Premises shall not include the obligation to rebuild, restore, replace or repair any chattel, fixture or Leasehold Improvements or any other thing that is the property of the Abatement Event Termination NoticeTenant and/or for which the Tenant is to maintain insurance under paragraph (b) and (c) of Section 9.01 (in this Section collectively called “Tenant’s Improvements”); the Leased Premises shall be deemed repaired and rebuilt when the Landlord’s Architect certifies that it has been substantially repaired and rebuilt to the state where the Tenant could occupy it for the purpose of rebuilding, restoring, replacing or repairing the Tenant’s Improvements. The issuance of the certificate of the Landlord’s Architect shall not relieve the Landlord of its obligation to complete the repairing and rebuilding as aforesaid, but the Tenant shall forthwith after issuance of such certificate proceed to rebuild, restore, replace and repair the Tenant’s Improvements, and the provisions of Section 6.03 shall apply to such work, mutatis mutandis.
Appears in 1 contract
Samples: Lease Agreement (Navarre Corp /Mn/)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; , which substantially interferes with Tenant’s use of the Premises, or (ii) the presence ofany failure to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises to the extent required by Landlord or this Lease, each as a Landlord Party; or (iii) cessation direct result of utilities or services caused by Landlord’s negligence or willful misconduct (any and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two ten (210) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) daysapplicable thereto. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder. [*] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and not more than one (1) year, following the delivery Exchange Commission pursuant to Rule 406 of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt Securities Act of the Abatement Event Termination Notice1933, as amended.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or each as a Landlord Party; or (iii) cessation direct result of utilities or services caused by Landlord’s negligence or willful misconduct or caused by an event covered by Articles 11 or 13 of this Lease (any and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two ten (210) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent -34- HCP, INC. [4930 Director’s Place] [Sorrento Therapeutics, Inc.] allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as expressly provided in this Lease, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Sorrento Therapeutics, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using If due to Landlord’s default, (i) the Premises or any material portion thereof are unusable by Tenant for a period of more than the Abatement Cure Period, as hereinafter defined, following notice from Tenant due to a lack of any of water, sewer, elevator service, access, condenser water, or electricity, (meaning that ii) Tenant is unable to shall, concurrently with the giving of such notice, discontinue use that portion of the Premises in or the normal course of its business) portion thereof which is unusable as a result (other than for sporadic purposes such as such as salvage, security, or retrieval of property), and (iii) such condition is not caused by the act or omission of Tenant, or Tenant’s agents, employees, contractors, or invitees (any circumstance where the foregoing clauses (i) any repair), maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or and (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, are satisfied being referred to be known herein as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility PeriodCondition”), then the Base Annual Fixed Rent and Additional Rent on account of Taxes and Operating Costs shall be equitably abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to rendered unusable for the total floor area of period commencing on the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery expiration of the Abatement Event Termination NoticeCure Period and ending on the date that the Premises (or such portion) is rendered usable. If more than fifty percent (50%) of the Premises is rendered unusable and if Tenant shall vacate the entire Premises, then the aforesaid abatement shall be a full abatement. Any notice from Tenant pursuant to the first sentence or this paragraph shall expressly state that the failure of Landlord to cure any claimed default timely shall give rise to Tenant’s rights of rent abatement. For purposes hereof, the term “Abatement Event Termination Notice Cure Period” means a period of five (5) consecutive business days, except that the Abatement Cure Period shall be null and void extended by the period of time (but only if any) that Landlord is delayed in connection with the first notice sent curing such Abatement Condition by Tenant with respect to each separate Abatement Event) if Landlord or reason of causes beyond Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticereasonable control.
Appears in 1 contract
Samples: Lease (Liquid Holdings Group, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repairfailure to provide services, maintenance utilities or alteration negligently performed by Landlord, or which Landlord failed access to perform, the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services which failure is not caused by Landlord’s the negligence or willful misconduct of Tenant (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and either (i) Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event or (ii) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event, then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event. Except as provided in this Section 6.4, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Tercica Inc)
Abatement of Rent. In the event that If Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any negligent repair, maintenance maintenance, alteration or alteration negligently other negligent activities performed by Landlordor on behalf of Landlord in, on or which Landlord failed to performabout the Premises, as required by this Lease; Building or Project or (ii) any negligent failure to provide services, utilities or access to the presence ofPremises, Building or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises Project that Landlord is required to provide by Landlord or a Landlord Party; this Lease or (iii) cessation of utilities or services caused by Landlord’s negligence or any Landlord Party's willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and ; if such Abatement Event continues for two (2) three consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, 1064686.11 35 however, if Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant's right to axxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and the Eligibility Period shall not be effective applicable thereto. Such rights to axxxx Base Rent and Tenant's Share of Direct Expenses, as of a date set forth in the this Section 19.5.2, shall be Tenant's sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event Termination Notice (the “Abatement Event Termination Date”)not otherwise covered by Articles 11 or 13. Except as provided in this Section 19.5.2, which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void interpreted to mean that Tenant is excused from paying Rent due hereunder. Nothing contained herein is intended to limit Tenant's rights against any third parties (but only including other tenants in connection with the first notice sent by Tenant with respect Project) to each separate Abatement Event) if Landlord the extent their acts or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt omissions result in the temporary or permanent interruption, delay or loss of access to, use of, or services or utilities provided to the Abatement Event Termination NoticePremises, Building or Project.
Appears in 1 contract
Samples: Office and R&d Lease (Aquantia Corp)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date applicable to the Premises and required by this Lease, 760812.06/WLA375983-00004/11-2-16/ejs/ejs 43 COLORADO CENTER[2400 Broadway][Kite Pharam, Inc.] which substantially interferes with Tenant’s use of or ingress to or egress from the Building or the Parking Structure; (ii) any failure by Landlord to provide services, utilities or ingress to and egress from the Building (including the Parking Structure), or Premises as required by this Lease; (iii) damage and destruction of or eminent domain proceedings in connection with the Building or the Parking Structure, or (iiiv) the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials not brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct Tenant Parties (any such set of circumstances as set forth in items (i) through (iiiiv), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (provided Landlord is sent a notice pursuant to Section 29.18 of this Lease of each such Abatement Event) (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses and Tenant’s obligation to pay for parking (to the extent not actually utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“"Unusable Area”"), bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, the Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein (in Tenant’s reasonable judgment), the Base Rent and Tenant’s Share of Direct Expenses for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy at law or in equity to xxxxx Rent for an Abatement Event; provided, however, that (a) nothing in this Section 19.5.2, shall impair Tenant’s rights under Section 19.5.1, above, and (b) if Landlord has not cured such Abatement Event within one two hundred eighty seventy (180270) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten five (105) business days of each calendar month following the end of such 180270-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “"Abatement Event Termination Notice”") during such ten five (105) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “"Abatement Event Termination Date”"), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Notwithstanding anything contained in this Section 19.5.2 to the contrary, Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.. If Tenant’s right to abatement occurs because of an eminent domain taking, condemnation and/or because of damage or destruction to the Premises and/or the Parking Structure, Tenant’s abatement period shall continue until Tenant has been given sufficient time, and sufficient ingress to, and egress from the Premises, to rebuild such portion it is required to rebuild, to install its property, furniture, fixtures, and equipment to the extent the same shall have been removed as a result of such damage or destruction or temporary taking and to move in over a weekend. To the extent Tenant is entitled to abatement because of an event covered by Articles 11 or 13 of this Lease, then the Eligibility Period shall not be applicable. If Tenant’s right to abatement occurs during any period of Base Rent Abatement, Tenant’s period of Base Rent Abatement shall be extended for the number of days that the abatement period overlapped the free Base Rent period ("Overlap Period"). Landlord shall have the right to extend the Lease Expiration Date for a period of time equal to the Overlap Period if Landlord sends a notice to Tenant of such election within ten (10) days following the end of the extended free Base Rent period. Except as provided in this Section 19.5.2 or elsewhere in this Lease, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder. 760812.06/WLA375983-00004/11-2-16/ejs/ejs 44 COLORADO CENTER[2400 Broadway][Kite Pharam, Inc.]
Appears in 1 contract
Samples: Office Lease (Kite Pharma, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date applicable to the Premises and required by this Lease, which substantially interferes with Tenant's use of or ingress to or egress from the Building or Tenant's Parking Areas; (ii) any failure by Landlord to provide services, utilities or ingress to and egress from the Building or Premises as required by this Lease; or (iiiii) the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials not brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct Tenant Parties (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord's receipt of any such notice, or occurs for ten (10) non-non- consecutive business days in a twelve (12) month period (provided Landlord is sent a notice for each such Abatement Event) (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“"Unusable Area”"), bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, the Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein (in Tenant's reasonable judgment), the Base Rent and Tenant's Share of Direct Expenses for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant's Share of Direct Expenses shall be Tenant's sole and exclusive remedy at law or in equity to xxxxx Rent for an Abatement Event; provided, however, that (a) nothing in this Section 19.5.2, shall impair Tenant's rights under Section 19.5.1, above, and (b) if Landlord has not cured such Abatement Event within one two hundred eighty ten (180210) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten five (105) business days of each calendar month following the end of such 180210-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “"Abatement Event Termination Notice”") during such ten five (105) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “"Abatement Event Termination Date”"), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Notwithstanding anything contained in this Section 19.5.2 to the contrary, Tenant’s 's Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. To the extent Tenant is entitled to abatement because of an event covered by Articles 11 or 13 of this Lease, then the Eligibility Period shall not be applicable, and the date of the expiration of Tenant's abatement rights shall be as set forth in Articles 11 and 13 above. If Tenant's right to abatement occurs during any period of Base Rent Abatement, Tenant's period of Base Rent Abatement shall be extended for the number of days that the abatement period overlapped the free Base Rent period ("Overlap Period"). Except as provided in this Section 19.5.2 or elsewhere in this Lease, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder. Nothing stated in this Section 19.5.2 shall cause the Lease Term to continue if, according to other provisions of the Lease, this Lease is to be terminated or ended.
Appears in 1 contract
Samples: Office Lease (8x8 Inc /De/)
Abatement of Rent. In Notwithstanding anything to the contrary in this Lease, in the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; , which substantially interferes with Tenant’s use of the Premises, or (ii) the presence ofany failure to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises as required to be provided by Landlord under this Lease, but excluding any utility or a Landlord Party; service that Tenant contracts directly with such utility or service provider, or, (iii) cessation the negligence or intentional acts of utilities Landlord or services any Landlord Party (including without limitation any breach of this Lease by Landlord), or (iv) material interference with Tenant’s parking rights hereunder caused by Landlord’s negligence any negligent or willful misconduct intentional acts of Landlord or any Landlord Party (provided that the terms of this item (iv) shall not be applicable to the extent Landlord provides Tenant with Reasonable Alternate Parking) (any such set of circumstances as set forth in items (i) through ), (ii), (iii) or (iv), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenantremaining portion, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until then for such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.after expiration of
Appears in 1 contract
Samples: Lease (BioAtla, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to performperform and required by this Lease, which substantially interferes with Tenant's use of the Premises or a portion thereof, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation any unreasonable interference with Tenant’s use or occupancy of utilities or services the Premises caused by Landlord’s 's activities at the Project, or (iv) the gross negligence or willful misconduct of Landlord (any such set of circumstances as set forth in items (i) through (iiii)-(iv), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant's Share of Direct Expenses, shall be abated or reduced, as the case may be, after upon expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant's right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery Tenant's Share of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Direct Expenses shall be null Tenant's sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Nuvasive Inc)
Abatement of Rent. In Notwithstanding anything to the contrary set forth in this Lease, in the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) daysapplicable thereto. Such right to xxxxx Base Rent, Tenant’s Share of Direct Expenses, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice obligation to pay for parking shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Trulia, Inc.)
Abatement of Rent. In the event that as a result of any such damage, repair, reconstruction and/or restoration of the Premises or the Building, Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)thereof, then the Base Rent and Additional Monthly Basic Rent shall be abated entirely or reduced, as the case may be, after expiration of during the Eligibility Period for such time period that Tenant continues to be so prevented from using and does not use the Premises, Premises or a portion thereof, in the proportion that the floor area rentable square feet of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor area rentable square feet of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its permitted business therein, and if Tenant does not conduct its permitted business from such remaining portion, then during the period which Tenant is so prevented from effectively conducting its permitted business therein, the Monthly Basic Rent shall be abated entirely for such time as Tenant continues to be so prevented from using and does not use, the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt Notwithstanding the foregoing to the contrary, if the damage is due to the sole and active negligence or willful misconduct of written notice from TenantTenant or any Tenant Parties, there shall be no abatement of Monthly Basic Rent. Except for abatement of Monthly Basic Rent as provided hereinabove, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) daysentitled to any compensation or damages for loss of, and not more than one (1) yearor interference with, following the delivery Tenant’s business or use or access of all or any part of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord Premises resulting from any such damage, repair, reconstruction or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticerestoration.
Appears in 1 contract
Samples: Office Lease (Axesstel Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or each as a Landlord Party; or (iii) cessation direct result of utilities or services caused by Landlord’s negligence or willful misconduct (any and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two ten (210) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (-35- HCP, INC. Sorrento Gateway[Sorrento Therapeutics, Inc.] the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as expressly provided in this Lease, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Sorrento Therapeutics, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, for five (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (25) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a any twelve (12) month period (in either of such events, the “Eligibility Period”)) as a result of any damage or destruction to the Premises or any repair, maintenance or alteration performed by Landlord (or its agents or contractors) to the Premises after the Commencement Date and required by the Lease, which substantially interferes with Tenant’s use of the Premises, or any failure to provide services or access to the Premises due to Landlord’s default, then the Base Rent and Additional Rent Tenant’s rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has However, in the event that Tenant is prevented from conducting, and does not cured conduct, its business in any portion of the Premises for a period of time in excess of the Eligibility Period, and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from Tenanteffectively conducting its business therein, the rent for the entire Premises shall be abated; provided, however, if Tenant shall have reoccupies and conducts its business from any portion of the right Premises during such period, the rent allocable to terminate this Lease during such reoccupied portion, based on the first ten (10) business days of each calendar month following proportion that the end rentable area of such 180-day period until such time as Landlord has cured reoccupied portion of the Abatement EventPremises bears to the total rentable area of the Premises, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a payable by Tenant from the date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Noticesuch business operations commence. Tenant’s Abatement Event Termination Notice shall be null and void (but only rights under this Section are in connection with addition to any other rights or remedies it may have under the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination NoticeLease.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or each as a Landlord Party; or (iii) cessation direct result of utilities or services caused by Landlord’s negligence or willful misconduct (any and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two ten (210) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In the event that If Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repairLandlord’s failure to provide electricity, maintenance water or alteration negligently performed by Landlord, or which Landlord failed HVAC to perform, the Premises as required by this Lease; to be provided in Sections 6.1.1, 6.1.2 or 6.1.3 above, (ii) the presence of, or cleanup or remediation any activities in connection with, Hazardous Materials brought on the Premises undertaken by Landlord or a Construction performed by Landlord Party; or after the Lease Commencement Date pursuant to Article 23 and/or Section 26.28 below, (iii) cessation of utilities any failure by Landlord to provide access to the Premises, or services caused access to, or use of, those parking passes within the Parking Allotment which Tenant has elected to rent pursuant to Section 24.1 below (to the extent reasonable replacement parking passes are not provided by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above(iv) any failure by Landlord to perform any maintenance, repairs or replacements required to be known performed by Landlord pursuant to Section 7.2 below prior to the expiration of the Outside Repair Period (as defined in Section 7.3 below), or (v) the presence of Hazardous Materials in, on or around the Building, the Premises or the Phase IV Real Property which were not caused or introduced by Tenant or Tenant’s agents, employees, licensees or invitees, and which Hazardous Materials pose a material and significant health risk to occupants of the Premises as determined by applicable governmental authorities pursuant to applicable Environmental Laws by written notice delivered to Landlord and Tenant (each, an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if . If such Abatement Event continues for two five (25) consecutive business days after such notice, or occurs for ten twelve (1012) non-consecutive business days in a any twelve (12) consecutive month period after Landlord’s receipt of any such notice from Tenant (in either of such events, the “Eligibility Period”), then during the period from and after the first (1st) day following the Eligibility Period and continuing until such time that Tenant continues to be so prevented from using, and does not use, the Premises or a portion thereof (the “Unusable Area”): (A) Tenant’s obligation to pay Base Rent and Additional Rent Tenant’s Share of increases in Operating Expenses, Tax Expenses and Utilities Costs shall be abated or reduced, as the case may be, in the proportion that the rentable square feet of the Unusable Area, bears to the total rentable square feet of the Premises; and (B) Tenant’s obligation to pay parking charges for the Parking Passes (as defined below) then-rented by Tenant shall be abated to the extent Tenant does not use such Parking Passes as a direct result of Tenant’s being prevented from using and not using the Unusable Area, but not in excess of four (4) parking passes for every 1,000 rentable square feet of the Unusable Area. However, if (1) due to an Abatement Event less than all of the Premises, but substantial or critical portions of the Premises (such as, for example, Tenant’s computer and data rooms in the Premises), are unfit for occupancy and not used by Tenant beyond the Eligibility Period, (2) as a result thereof, the remainder of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and (3) Tenant does not conduct its business from the Unusable Area of such substantial or critical portions of the Premises affected by such Abatement Event and such remaining portion, then (x) the Base Rent and Tenant’s Share of increases in Operating Expenses, Tax Expenses and Utilities Costs for the entire Premises shall be abated for such time after the expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using, and does not use, the entire Premises, and (y) Tenant’s obligation to pay parking charges for all of the Parking Passes then-rented by Tenant shall be abated for such time after the expiration of the Eligibility Period that Tenant continues to be so prevented from using, and does not use, the entire Premises, but only to the extent Tenant does not use such Parking Passes as a direct result of Tenant’s being prevented from using and not using the entire Premises; if, or a however, Tenant reoccupies any portion thereofof the Premises during such abatement period, then the Base Rent and Tenant’s Share of increases in Operating Expenses, Tax Expenses and Utilities Costs and parking charges for the Parking Passes then-rented by Tenant allocable to such reoccupied portion, based on the proportion that the floor area rentable square feet of the such reoccupied portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area rentable square feet of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. As a clarification of the immediately preceding sentence, if Tenant uses Tenant’s computer and data rooms in the Premises following an Abatement Event, such use shall not preclude Tenant from receiving abatement of the Base Rent, Tenant’s Share of increases in Operating Expenses, Tax Expenses and Utilities Costs and parking charges for the remainder of the Premises as and to the extent otherwise permitted in the immediately preceding sentence, but if such computer and data rooms are so used, such areas shall not be eligible for any such abatement during the period of such use. If Tenant’s right to abatement pursuant to the foregoing provisions of this Section 6.6 occurs during a free rent period which arises after the Lease Commencement Date, Tenant’s free rent period shall be extended for the number of days that the abatement period overlapped the free rent period (“Overlap Period”). Landlord shall have the right to extend the Lease Expiration Date for a period of time equal to the Overlap Period if Landlord sends a Notice to Tenant of such election within thirty (30) days following the end of the extended free rent period. In addition, during any period following the Eligibility Period that Tenant is so prevented from using and does not use the Unusable Area and is entitled to abatement of Base Rent and Tenant’s Share of increases in Operating Expenses, Tax Expenses and Utilities Costs and parking charges as provided hereinabove, Landlord shall pay to Tenant, to the extent covered by insurance retained by Landlord as part of Operating Expenses, any incremental reasonable, out-of-pocket expense that the Tenant incurs in temporarily relocating the functions previously performed in the Unusable Area to a different location. For this purpose, an incremental expense shall be any expense that the Tenant incurs in temporarily relocating from the Unusable Area to a temporary location and then relocating back to the Unusable Area (after such area has been made fit for Tenant’s Permitted Use) that Tenant would not have had to incur but for such relocation. Such right to xxxxx Base Rent, Tenant’s Share of increases in Operating Expenses, Tax Expenses and Utilities Costs, and parking charges (and right to receive any such incremental out-of-pocket temporary relocation expenses) shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event; provided, however, that (a) nothing in this Section 6.6 shall impair Tenant’s rights under Section 19.7 below, and (b) if Landlord has not cured such Abatement Event within one hundred eighty nine (1809) days months after receipt of written notice from TenantTenant of such Abatement Event, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day nine (9) month period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ prior notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one hundred twenty (1120) yeardays, following the delivery of the Abatement Event Termination Notice. Notwithstanding the foregoing to the contrary: (I) Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice Abatement Event Termination Notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of such Abatement Event Termination Notice; and (II) Tenant shall not have the right to terminate this Lease pursuant to the terms of this Section 6.6, if, as of the date of delivery by Tenant of the Abatement Event Termination Notice, (x) the first trust deed holder of the Building (the “Bank”) has recorded a notice of default on the Building or filed a notice evidencing a legal action by the Bank against Landlord on the Building, (y) the Bank diligently proceeds to gain possession of the Premises and, to the extent Bank does gain possession of the Premises, the Bank diligently proceeds to cure such Abatement Event, and (z) the Bank cures such Abatement Event within ninety (90) days after the Bank gains possession of the Premises. If Tenant’s right to abatement and/or termination pursuant to the foregoing provisions of this Section 6.6 occurs because of a damage or destruction pursuant to Article 11 or a taking pursuant to Article 13, then (I) the Eligibility Period set forth hereinabove shall not be applicable, and (II) Tenant’s termination right provided hereinabove shall not be applicable, as such abatement and termination rights shall be governed by Articles 11 and 13 below, respectively, and this Section 6.6.
Appears in 1 contract
Samples: Office Lease (United Online Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, ----------------- and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance maintenance, "Renovations," as that term is defined in Section 29.30 of this Lease, or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant's Share of Direct Expenses shall be Tenant's sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 6.4, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Extreme Networks Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) Landlord's negligence or willful misconduct in the performance of any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on which substantially interferes with Tenant's use of the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii)each, above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10the "Eligibility Period") non-consecutive business days in a twelve (12) month period (in either and Landlord does not diligently commence and pursue to completion the remedy of such events, the “Eligibility Period”)Abatement Event, then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant's right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery Tenant's Share of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Direct Expenses shall be null Tenant's sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (INPHI Corp)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, for [*] (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business"Eligibility Period") as a result of (i) any repair, maintenance or alteration negligently performed by LandlordLandlord to the Premises after the Commencement Date, which substantially interferes with Tenant's use of the Premises, or which Landlord failed any failure to perform, as required by this Lease; provide services or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by due to Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”)'s default, then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant's rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has However, in the event that Tenant is prevented from conducting, and does not cured conduct, its business in any portion of the Premises for a period of time in excess of the Eligibility Period, and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from Tenanteffectively conducting its business therein, the rent for the entire Premises shall be abated; provided, however, if Tenant reoccupies and conducts its business from any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date such business operations commence. To the extent Tenant shall have be entitled to abatement of rent because of damage or destruction pursuant to Section 14 or a taking pursuant to Section 15, then the right to terminate terms of this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Section 8.9 shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeapplicable.
Appears in 1 contract
Samples: Standard Lease (Ambarella Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this the Lease; , which substantially interferes with Tenant’s use of the Premises, or (ii) the presence ofany failure to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, notice or occurs for ten (10) consecutive business or non-consecutive business days after Landlord’s receipt of any such notice as to each such consecutive or non-consecutive day period in a any twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Building Direct Expenses and Tenant’s obligation to pay for parking shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Building Direct Expenses and Tenant’s obligation to pay for parking for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to be the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Building Direct Expenses shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 19.5.2, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Epicor Software Corp)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or each as a Landlord Party; or (iii) cessation direct result of utilities or services caused by Landlord’s 's negligence or willful misconduct (any and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two ten (210) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10the "Eligibility Period") non-consecutive business days in a twelve (12) month period (in either and Landlord does not diligently commence and pursue to completion the remedy of such events, the “Eligibility Period”)Abatement Event, then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use 34 HCP, INC.[4939 Director's Place][Sorrento Therapeutics, Inc.] for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant's right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery Tenant's Share of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Direct Expenses shall be null Tenant's sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as expressly provided in this Lease, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Sorrento Therapeutics, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of or ingress to or egress from the Building, Project (including the Project Common Areas), or Premises (including the Project parking areas to the extent reasonable replacement spaces are not provided); or (ii) any failure by Landlord to provide services, utilities or ingress to and egress from the Building, Project (including the Project Common Areas), or Premises as required by pursuant to the TCCs of this Lease; or (iiiii) the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials not brought on the Premises by Landlord "Tenant Parties," as that term is set forth in SECTION 29.35 of this Lease to the extent such presence substantially interferes with Tenant's use of or a Landlord Party; ingress to or egress from the Building, Project (iiiincluding the Project Common Areas), or Premises (including the Project -13- parking areas to the extent reasonable replacement spaces are not provided) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”"ABATEMENT EVENT"), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten Notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”"ELIGIBILITY PERIOD"), then then, as Tenant's sole remedy vis-a-vis such Abatement Event, the Base Rent and Additional Rent Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“Unusable Area”"UNUSABLE AREA"), bears to the total floor rentable area of the Premises. If Landlord has Notwithstanding the foregoing, in the event that Tenant is prevented (from an objective, general pharmaceutical tenant perspective) from conducting, and does not cured conduct, its business in more than fifty percent (50%) of the lab/manufacturing portion (as opposed to office/warehouse portions) of the Premises for a period of time in excess of the Eligibility Period, and the remaining lab/manufacturing portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenantremaining portion, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until then for such time as Landlord has cured after expiration of the Abatement EventEligibility Period during which Tenant is so prevented (again, which right may from an objective, general pharmaceutical tenant perspective) from effectively conducting its business therein, the Base Rent and Tenant's Share of Direct Expenses for the entire lab/manufacturing portion of the Premises shall be exercised only by delivery of thirty (30) days’ notice to abated. Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided Tenant hereby acknowledge that, in addition to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date abatement rights set forth in this SECTION 3.3, Tenant's abatement rights following an event of damage and destruction or condemnation is provided pursuant to the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery TCCs of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt ARTICLES 11 AND 13 of the Abatement Event Termination Noticethis Lease.
Appears in 1 contract
Samples: Lease (Vical Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, for five (meaning that Tenant is unable to use that portion of 5) consecutive business days (the Premises in the normal course of its business"Eligibility Period") as a result of (i) any construction, repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on any failure to provide to the Premises by Landlord or a Landlord Party; or any of the utilities and services required to be provided under Section VII.A. above, (iii) cessation any failure to provide access to the Premises, or (iv) because of utilities the presence of Hazardous Materials in, on or services around the Building, the Premises or the Real Property which were not caused or introduced by Landlord’s negligence Tenant or willful misconduct Tenant's agents, employees, licensees or invitees, and which Hazardous Materials pose a material and significant health risk to occupants of the Premises as determined by applicable governmental authorities pursuant to applicable Laws by written notice delivered to Landlord and Tenant, which notice specifically prohibits occupancy of the Premises (any or portions thereof) as a result of such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”)Hazardous Materials, then Tenant shall give Landlord written notice of such Abatement EventTenant's obligation to pay Base Rent, Expenses and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Taxes shall be abated or reduced, as the case may be, from and after expiration of the first (1st) day following the Eligibility Period and continuing for such time that as Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor area rentable square feet of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor area rentable square feet of the Premises; provided, however, Tenant shall not have the right to abate Rent under this Section VII.C if any of the xxxxxs described in clauses (i) through (iv) of this Section VII.C. are caused by a casualty damage described in Section XVII, or a taking or condemnation described in Section XVIII, or an event of Force Majeure (as defined in Section XXXI.D.), and in such instances Tenant's rights to abatement of Rent shall be governed exclusively by Sections XVII and XVIII of this Lease. If Landlord has Notwithstanding anything to the contrary set forth in this Lease, in the event that Tenant is prevented from using, and does not cured such Abatement Event within use, the Premises or any portion thereof, for one hundred eighty (180) consecutive days after receipt or for a total of written notice from Tenanttwo hundred (200) days in any consecutive nine (9) month period as a result of the matters described in clauses (i) through (iv) of this Section VII.C, then Tenant shall have the right to terminate this Lease during the first ten by delivering to Landlord written termination notice within five (105) business days of each calendar month following after the end of such one hundred eighty (180-) day period until (or two hundred (200) day) period; provided, however, Tenant shall not have such time as Landlord has cured the Abatement Eventtermination right if any of such events described in clauses (i) through (iv) of this Section VII.C. are caused by a casualty damage described in Section XVII, which right may be exercised only by delivery or a taking or condemnation described in Section XVIII, or an event of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodForce Majeure, and Tenant's termination rights in such instances shall be effective as governed exclusively by Sections XVII and XVIII of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticethis Lease.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant's Share of Direct Expenses shall be Tenant's sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 19.7.2 or in Article 11 or Article 13, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In If the event that Tenant is prevented from using the Premises said premises or any material portion part thereof (meaning that Tenant is unable to shall be destroyed or so damaged or shall be rendered inaccessible or unfit for use that portion and occupation by fire, typhoon, Act of God, Force Majeure or other cause beyond the control of the Premises Landlord and not attributable directly or indirectly to any act or default of the Tenant and the policy or policies of insurance effected by the Landlord shall not have been vitiated or payment of policy monies refused in whole or in part in consequence of any act or default of the normal course Tenant or at any time during the continuance of its business) this tenancy the said premises or the Building shall be condemned as a result dangerous structure or a demolition order or closing order shall become operative in respect of (i) any repairthe said premises or the Building then the Rent hereby agreed to be paid or a part thereof proportionate to the damage sustained shall cease to be payable until the said premises shall have been restored or reinstated or rendered accessible or fit for use and occupation or the demolition order or the closing order shall have been uplifted provided always that the Landlord shall be under no obligation to repair or reinstate the said premises if, maintenance in its opinion, it is not reasonable economical or alteration negligently performed by Landlord, practicable so to do and provided further that if the whole or which Landlord failed to perform, as required by this Lease; substantially the whole of the said premises shall have been destroyed or (ii) rendered unfit for use and occupation and shall not have been repaired and reinstated or the presence of, demolition order or cleanup or remediation activities in connection with, Hazardous Materials brought the closing order on the Premises by Landlord said premises or a Landlord Party; the Building shall remain continue and not uplifted within 6 months of the occurrence of the destruction or damage demolition or closing order (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of ) either party shall be entitled at any time before the Eligibility Period for such time that Tenant continues to be same are so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right repaired and reinstated to terminate this Lease during Agreement by notice in writing to the first ten (10) business days other but without prejudice to the rights and remedies of each calendar month following either party against the end other in respect of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery any antecedent claim or breach of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null agreements, stipulations, terms and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord conditions herein contained or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination NoticeLandlordin respect of the Rent payable hereunder prior to the coming into effect of the suspension caused by the factors as aforesaid.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; or , which substantially interferes with Tenant's use of the Premises, (ii) any failure to provide services, utilities or access to the Premises, (iii) damage and destruction of or eminent domain proceedings in connection with the Premises, the Project or the parking facility servicing the Project, or (iv) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials of hazardous materials not brought on the Premises by Landlord Tenant, its employees, agents, invitees or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct customers (any such set of circumstances as set forth in items (i) through (iiiiv), above, to be known as an “Abatement Event”"ABATEMENT EVENT"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”"ELIGIBILITY PERIOD"), then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation to pay for parking shall be abated or reduced, as the case may be, after expiration from the commencement of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time from the commencement of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Building Direct Expenses and Tenant's obligation to XXXXXX REALTY [999 North Xxxxxxxxx] [Encore Software] pay for parking for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent, Tenant's Share of Direct Expenses, and Tenant's parking charges shall be Tenant's sole and exclusive remedy at law or in equity to xxxxx rent for an Abatement Event. If Tenant's right to abatement occurs because of an eminent domain taking and/or because of damage or destruction to the Premises, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to the Project's parking facility, and/or the Project, Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period's abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild such portion it is required to rebuild, to install its property, furniture, fixtures, and equipment to the extent the same shall have been removed as a result of such damage or destruction and to move in over a weekend. Except as provided in this Section 19.5.2, nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Navarre Corp /Mn/)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of or ingress to or egress from the Building, Project, or Premises or the parking facility; (ii) any failure to provide services, utilities or ingress to and egress from the Building, Project, or Premises as required by this Lease; or (iiiii) the presence of, damage and destruction of or cleanup or remediation activities eminent domain proceedings in connection withwith the Premises, Hazardous Materials brought on Building, the Premises by Landlord Project or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct the parking facility servicing the Project, (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten Notice (10) non-consecutive business days in provided Landlord is sent a twelve (12) month period (in either Notice pursuant to Article 29 of this Lease of each of such events, Abatement Event) (the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Building Direct Expenses and charges for Tenant’s parking passes (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after the expiration of the Eligibility Period for such period of time (commencing from the first day of the Eligibility Period) that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“Unusable Area”), bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, the Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant’s Share of Building Direct Expenses and charges for Tenant’s parking passes (180to the extent not utilized by Tenant) days after receipt of written notice from Tenant, Tenant for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Building Direct Expenses and charges for Tenant’s parking passes (to the extent not utilized by Tenant) shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event; provided, which however, that nothing in this Section 19.6.2, shall impair Tenant’s rights under Section 19.6.1, above. If Tenant’s right may be exercised only by delivery to abatement occurs because of thirty (30) days’ notice an eminent domain taking, condemnation and/or because of damage or destruction to Landlord and Landlordthe Premises, the Project’s Lender (provided such Lenderparking facility, and/or the Project, Tenant’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodabatement period shall continue until Tenant has been given sufficient time, and sufficient ingress to, and egress from the Premises, to rebuild such portion it is required to rebuild, to install its property, furniture, fixtures, and equipment to the extent the same shall be effective have been removed as a result of such damage or destruction or temporary taking and to move in over a date set forth in weekend. To the Abatement Event Termination Notice (extent Tenant is entitled to abatement because of an event covered by Articles 11 or 13 of this Lease, then the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeapplicable.
Appears in 1 contract
Samples: Office Lease (Internet Brands, Inc.)
Abatement of Rent. In Subject to Tenant’s right to receive an earlier rent abatement pursuant to section 9.3, in the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, for five (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (25) consecutive business days after such notice, or occurs for ten seven (107) non-consecutive business days in a any twelve (12) month period (in either of such events, the “Eligibility Period”)) as a result of any damage or destruction to the Premises or any repair, maintenance or alteration performed by Landlord to the Premises after the Commencement Date and required by the Lease, which substantially interferes with Tenant’s use of the Premises, or any failure to provide services or access to the Premises due to Landlord’s negligence or default, then the Base Rent and Additional Rent Tenant’s rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If However, in the event that Tenant is prevented from conducting, and does not conduct, its business in any portion of the Premises for a period of time in excess of the Eligibility Period, and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the rent for the entire Premises shall be abated; provided, however, if Tenant reoccupies and conducts its business from any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date such business operations commence. Notwithstanding the foregoing, if Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice is entitled to receive lost rents from Tenantits insurance carrier, Tenant shall have the and Landlord’s right to terminate this Lease during the first ten (10) business days of each calendar month following receive such rents begins prior to the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodEligibility Period, and Tenant is otherwise entitled to receive a rent abatement pursuant to this section, Tenant’s rent abatement shall be effective begin as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect day Landlord is entitled to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticereceive lost rents from its insurance carrier.
Appears in 1 contract
Samples: Office Lease (Ign Entertainment Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10the "Eligibility Period") non-consecutive business days in a twelve and either (12A) month period (in either Landlord does not diligently commence and pursue to completion the remedy of such events, the “Eligibility Period”)Abatement Event or (B) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event, then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. To the extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant's right to xxxxx rent shall be governed by the terms of such Article 11 or 13, as applicable, and the Eligibility Period shall not be applicable thereto. Such right to xxxxx Base Rent and Tenant's Share of Direct Expenses shall be Tenant's sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event; provided, however, that if Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “"Abatement Event Termination Notice”") during prior to such ten (10) business-day periodtime as Landlord has cured the Abatement Event, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “"Abatement Event Termination Date”"), which Abatement Event Termination Date shall not be less than thirty five (305) business days, and not more than one thirty (130) yeardays, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Except as provided in this Section 19.5.2, nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Cytori Therapeutics, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Rent Commencement Date and required by this Lease, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection witheach as a direct result of Landlord's, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct or breach of this Lease (and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (any such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion 791223.03/WLA 186772-00003/3-7-19/gjn/gjn -32- [Edgewater Business Park] [Allogene Therapeutics, Inc.] of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant's right to axxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) daysapplicable thereto. Except as provided in this Section 19.5.2, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Allogene Therapeutics, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Rent Commencement Date and required by this Lease, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection witheach as a direct result of Landlord's, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct or breach of this Lease (and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (any such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Txxxxx's obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Txxxxx's right to axxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) daysapplicable thereto. Except as provided in this Section 19.5.2, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In Notwithstanding anything to the contrary in this Lease, in the event that Tenant is prevented from using using, and does not use, the Premises Building or any material portion thereof, or Tenant’s Parking Spaces or any portion thereof (meaning that where Landlord has not accommodated Tenant is unable to use that portion with the Alternative Parking (as defined below)), or the spoil courts, fitness center, outdoor seating or walking areas (the “Other Amenities”), in any of the Premises in the normal course of its business) such cases as a result of (i) Landlord’s construction of the New Building, (ii) any failure in Tenant obtaining any of the essential utilities due to Landlord’s negligent or intentional acts or omissions, (iii) any failure in Tenant accessing the Building or Tenant’s Parking Spaces due to Landlord’s negligent or intentional acts or omissions or due to a beneficiary pursuant to an easement referenced in the Policy (as defined in Section 10.1 below) causing such failure of access, (iv) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by (v) Landlord’s negligent or intentional acts or omissions or breach of this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any and provided that Tenant did not cause such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”)interference, then Tenant shall give immediately notify Landlord written notice of such Abatement Event, in writing and if such Abatement Event prevention continues for two the relevant Eligibility Period (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”as defined below), then the Tenant’s obligation to pay Base Rent and Additional Rent shall be abated or reduced, as the case may be, from and after expiration of the first (1st) day following the Eligibility Period for and continuing until such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Building or a portion thereofthereof or Tenant’s Parking Spaces or any portion thereof (where Landlord has not accommodated Tenant with the Alternative Parking (as defined below)), or the Other Amenities, in the proportion that the floor area rentable square feet of the portion of the Premises Building that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor area rentable square feet of the PremisesBuilding (or in the case of Tenant’s Parking Spaces, in proportion to the number of Tenant’s Parking Spaces that Tenant is prevented from using, and does not use, bears to the total number of Tenant’s Parking Spaces; or in the case of the Other Amenities, Base Rent shall be abated by 10%). If For example, if Tenant is unable to use five percent (5%) of Tenant’s Parking Spaces from and after the relevant Eligibility Period, then Base Rent shall reduce by five percent (5%) (until Tenant is provided the use of Tenant’s Parking Spaces (or until Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from provides the Alternative Parking to Tenant, )). To the extent Tenant shall have be entitled to abatement of rent pursuant to Article 12, then the right Eligibility Period shall not be applicable. “Eligibility Period” means five (5) consecutive business days unless such interference is triggered by construction of the New Building in which case it shall mean one (1) business day and except that, if such five (5) business days Eligibility Period is triggered at least three times in any 12 month period, then the Eligibility Period shall be shortened to terminate this Lease one (1) business day for any additional interference during such 12 month period. With respect to parking during any construction of the first New Building, Landlord may, at Landlord’s election and at Landlord’s sole cost, use valet/tandem parking or employ a reasonable shuttle service from a separate parking location, provided that (a) neither tandem parking nor such shuttle service shall be used for more than ninety (90) days, in the aggregate, during construction of the New Building, (b) such shuttle service is continuously available between the hours of 6am and 10pm on weekdays and between the hours of 8am and 6pm on weekends, and (c) such shuttle service that does not require more than a ten (10) business days of each calendar month following minute ride from the end of such 180-day period until such time as Landlord has cured alternate parking location to the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) Building (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination DateAlternative Parking”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using the Premises If all or any material portion thereof (meaning that Tenant is unable to use that portion part of the Premises in the normal course shall be rendered Untenantable by reason of its business) as a result of (i) any repairCasualty, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and the Additional Rent under Article 4 shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor Untenantable area of the Premises bears to the total area of the Premises, for the period from the date of the Casualty to the earlier of (a) the date Tenant or any Subtenant reoccupies the portion of the Premises that to which the abatement applies for the ordinary conduct of its business (in which case the Base Rent and the Additional Rent allocable to such reoccupied portion shall be payable by Tenant is prevented from using the date of such occupancy) or (“Unusable Area”), bears b) the date the Premises has been restored to substantially the condition existing prior to the total floor area Casualty (subject to any Tenant Change performed pursuant to Section 22.01) and is otherwise reasonably accessible (provided, that if the Premises would have been so restored at an earlier date but for any Tenant Delay or for Tenant having failed to cooperate with Landlord in effecting repairs or restoration or collecting insurance proceeds or for Tenant having failed to diligently perform Tenant’s Restoration Work, then the Premises shall be deemed to have been so restored on such earlier date and the abatement shall cease). Except to the extent otherwise expressly provided herein, (x) there shall be no abatement of Rent with respect to any portion of the Premises. If Landlord Premises which has not cured been rendered Untenantable by reason of a Casualty and which is accessible, whether or not other portions of the Premises are Untenantable, and (y) any abatement of Rent applicable to any portion of the Premises which was rendered untenantable by reason of a Casualty shall cease on the earliest of the dates referred to in clauses (a) or (b) of the preceding sentence, provided such Abatement Event portion is accessible, whether or not other portions of the Premises remain Untenantable. Such determination shall be made by Landlord, acting reasonably, in a notice to Tenant. Landlord’s determination of the date on which any rent abatement pursuant to this Section 22.02 shall end shall be controlling unless Tenant disputes same by notice to Landlord given within one hundred eighty (180) 15 days after receipt notice of written notice from such determination by Landlord is given to Tenant, and pending resolution of such dispute, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end pay Rent in accordance with Landlord’s determination. Promptly after resolution of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth dispute in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice favor, Landlord shall be null and void (but only in connection with the first notice sent refund any overpayments made by Tenant with respect interest at the Prime Rate from the date paid by Tenant to each separate Abatement Event) if Landlord or the date refunded by Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt . Nothing contained in this Article 22 shall relieve Tenant from any liability that may exist as a result of the Abatement Event Termination Noticeany Casualty.
Appears in 1 contract
Abatement of Rent. In the event that as a result of any such damage, repair, reconstruction and/or restoration of the Premises or the Building, Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of for the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated during the period after the date Tenant can no longer use the Premises or reduced, as the case may be, after expiration of the Eligibility Period for any portion thereof and throughout such time period that Tenant continues to be so prevented from using and does not use the Premises, Premises or a portion thereof, in the proportion that the floor area Rentable Square Feet of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor area Rentable Square Feet of the Premises. Notwithstanding the foregoing but subject to the provisions of Section 9.3, if the damage is due to the negligence or willful misconduct of Tenant or any Tenant Parties, there shall be no abatement of Rent. However, in the event that Tenant is prevented from using and does not use any portion of the Premises and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time that Tenant is so prevented from effectively conducting its business therein, the Rent for the entire Premises shall be abated; provided, however, if Tenant reoccupies and conducts its business from any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the Rental Square Feet of such reoccupied portion of the Premises bears to the total Rental Square Feet of the Premises, shall be payable by Tenant from the date Tenant reoccupies such space. If Landlord has not cured such Abatement Event within one hundred eighty Tenant’s right to abatement occurs during a free rent period which arises after the Commencement Date, Tenant’s free rent period shall be extended by the Overlap Period (180) i.e., the number of days after receipt of written notice from Tenantthat the abatement period overlapped the free rent period). Notwithstanding the foregoing, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following deemed to be using the delivery Premises for purposes of this Section 10.3 if Tenant is merely maintaining a skeleton crew within the Abatement Event Termination Notice. affected Premises for such purposes as securing Tenant’s Abatement Event Termination Notice shall records and files, forwarding telephone communications, correspondence and deliveries, and/or otherwise enabling those aspects of Tenant’s business operations previously conducted within the affected Premises to be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticecarried on from an alternative location.
Appears in 1 contract
Samples: Lease Agreement (First California Financial Group, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance a failure to provide services or alteration negligently performed by Landlord, or which Landlord failed to perform, utilities as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on which substantially interferes with Tenant's use of the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either notice and Landlord does not diligently pursue to completion the remedy of such events, Abatement Event (the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant's Share of Building Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion portion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has , to the extent covered by Landlord's insurance; provided, however, in the event that Tenant is prevented from using, and does not cured use,, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Building Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises, to the extent covered by Landlord's insurance. If, however, Tenant re-occupies any portion of the Premises during such period, the rent allocated to such re-occupied portion, based on the proportion that the rentable area of such re-occupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant re-occupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant's Share of Building Direct Expenses shall be Tenant's sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event. Except as provided in this Section 6.4, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Surge Components Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by the Lease, which substantially interferes with Tenant's use of the Premises, (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation any "Renovations," as that term is defined in Section 29.31 of utilities this Lease, or services caused by Landlord’s negligence or willful misconduct (any iv) damage and destruction under Article 11 of this Lease (such set of circumstances as set forth in items (i) through ), (ii), (iii) or (iv), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, notice (or occurs for ten such shorter period to the extent that any resulting rent abatement on such shorter period is covered by Landlord's insurance policies) (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant's Share of Direct Expenses for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If Landlord has not cured If, however, Tenant reoccupies (other than to effectuate repairs or reinstate its FF&E and personal property) any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies (other than to effectuate repairs or reinstate its FF&E and personal property) such portion of the Premises. Such right to xxxxx Base Rent and Tenant's Share of Direct Expenses and Tenant's obligation to pay for parking shall be Tenant's sole and exclusive remedy at law or in equity for an Abatement Event within one hundred eighty (180) days after receipt of written notice from except for Tenant, Tenant shall have the 's right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time for a Landlord Default or under Articles 11 or 13. Except as Landlord has cured the Abatement Eventprovided in Article 11, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day periodArticle 13, and Section 19.5.2, nothing contained herein shall be effective as interpreted to mean that Tenant is excused from paying Rent due hereunder. 00 XXX XXXXXX STAR WAY(Single-Tenant Lease Form)[Rovi Corporation] 19.6 Non Waiver of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”)Redemption by Tenant. Landlord acknowledges that Tenant does not waive its rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery Tenant's right of occupancy of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt Premises after any termination of the Abatement Event Termination Noticethis Lease.
Appears in 1 contract
Samples: Lease Agreement (Rovi Corp)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof thereof, for five (meaning that Tenant is unable to use that portion of 5) consecutive business days or ten (10) days in any twelve (12) month period (the Premises in the normal course of its business“Eligibility Period”) as a result of (ia) any repair, maintenance or alteration negligently performed by LandlordLandlord to the Premises after the Commencement Date and required by the Lease, which substantially interferes with Tenant’s use of the Premises, (b) substantial interference with Tenant’s access to the Premises, or which Landlord failed (c) any failure to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by provide Services due to Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”)default, then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has However, in the event that Tenant is prevented from conducting, and does not cured conduct, its business in any portion of the Premises for a period of time in excess of the Eligibility Period, and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from Tenanteffectively conducting its business therein, the rent for the entire Premises shall be abated; provided, however, if Tenant shall have reoccupies and conducts its business from any portion of the right Premises during such period, the rent allocable to terminate this Lease during such reoccupied portion, based on the first ten (10) business days of each calendar month following proportion that the end rentable area of such 180-day period until such time as Landlord has cured reoccupied portion of the Abatement EventPremises bears to the total rentable area of the Premises, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent payable by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures from the date such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticebusiness operations commence.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using unable to reasonably use, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, any Landlord Parties or any “MEW Responsible Parties,” as that term is defined in Section 29.19.1(i), below, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, (ii) any failure to provide services, utilities or access to the Premises to the extent and as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlordany occurrence that prevents Tenant’s negligence or ingress and egress to the Building (other than an occurrence due to Tenant’s negligence, willful misconduct or breach of this Lease) (any of such set of circumstances as set forth in items (i) through (ii) or (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereofAbatement Event continues, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11, 13 or 29.19.5 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11, 13 or 29.19.5, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained in this Section 19.5.2 shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Audience Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by the Lease, which substantially interferes with Tenant's use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant's Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to abatx Xxxe Rent and Tenant's Share of Direct Expenses shall be Tenant's sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 19.5.2, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repairfailure to provide services, maintenance utilities or alteration negligently performed by Landlord, or which Landlord failed access to perform, the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may be exercised only by delivery however, Tenant reoccupies any portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) Premises during such ten (10) business-day period, and the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be effective as of a payable by Tenant from the date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery Tenant reoccupies such portion of the Abatement Event Termination NoticePremises. Tenant’s Abatement Event Termination Notice Except as provided in this Section 6.4, nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; , which substantially interferes with Tenant's use of the Premises, or (ii) the presence ofany failure to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises to the extent required by Landlord or this Lease, each as a Landlord Party; or (iii) cessation direct result of utilities or services caused by Landlord’s 's negligence or willful misconduct (any and except to the extent such failure is caused in whole or in part by the action or inaction of Tenant) (either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two ten (210) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10the "Eligibility Period") non-consecutive business days in a twelve (12) month period (in either and Landlord does not diligently commence and pursue to completion the remedy of such events, the “Eligibility Period”)Abatement Event, then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation, if any, to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not effectively conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 5, 11 or 13 of this Lease, then Tenant's right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 5, 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery Tenant's Share of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Direct Expenses shall be null Tenant's sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Vaxart, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using If the Premises is damaged by a Casualty, Basic Rent and Escalation Charges payable by Tenant shall axxxx proportionately for the period from the date of such fire or other casualty until the earlier of (a) the date that Landlord substantially completes Landlord’s Restoration Work (provided that if Landlord would have completed Landlord’s Restoration Work at an earlier date but for Tenant having failed to cooperate with Landlord in effecting such Work or collecting insurance proceeds, then the Premises shall be deemed to have been repaired and restored on such earlier date and the abatement shall cease), or (b) the date Tenant or other occupant reoccupies any material portion thereof (meaning that Tenant is unable to use that portion of the Premises (in which case the normal course Basic Rent and Escalation Charges allocable to such reoccupied portion shall be payable by Tenant from the date of its business) as a result of such occupancy). Notwithstanding any provision contained in this Lease to the contrary, (i) there shall be no abatement with respect to any repairportion of the Premises which has not been rendered untenantable by reason of fire or other casualty and which is accessible, maintenance whether or alteration negligently performed by Landlordnot other portions of the Premises are untenantable, or which Landlord failed to perform, as required by this Lease; or and (ii) any abatement of Basic Rent or Escalation Charges applicable to any portion of the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought Premises which was rendered untenantable by reason of a casualty shall cease on the Premises by Landlord or a Landlord Party; earliest of the dates referred to in clauses (a) or (iiib) cessation of utilities the preceding sentence provided such portion is accessible, whether or services caused by not other portions of the Premises remain untenantable. Landlord’s negligence or willful misconduct (any such set determination of circumstances as set forth in items (i) through (iii), above, the date Landlord’s Restoration Work to the Premises shall have been substantially completed shall be known as an “Abatement Event”), then controlling unless Tenant shall give disputes same by notice to Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for given within ten (10) non-consecutive business days in a twelve (12) month period (in either after such determination by Landlord, and pending resolution of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenantdispute, Tenant shall have pay Basic Rent and Escalation Charges in accordance with Landlord’s determination. Notwithstanding the right foregoing, if by reason of any act or omission by Tenant, any subtenant or any of their respective partners, directors, officers, servants, employees, agents or contractors, Landlord, any Mortgagee shall be unable to terminate this Lease during collect all of the first ten insurance proceeds (10including, without limitation, rent insurance proceeds) business days of each calendar month following applicable to the end of such 180-day period until such time as Landlord has cured the Abatement Eventcasualty, then, without prejudice to any other remedies which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to available against Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and there shall be effective as no abatement of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery Basic Rent or of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination NoticeEscalation Charges.
Appears in 1 contract
Samples: Lease Agreement (Howard Bancorp Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and either (A) Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event or (B) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 19.6.2, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date applicable to the Premises and required by this Lease, which substantially interferes with Tenant's use of or ingress to or egress from the Building or Tenant's Parking Areas; (ii) any failure by Landlord to provide services, utilities or ingress to and egress from the Building or Premises that Landlord is required to provide under this Lease, and which are reasonably within Landlord's ability to control (the parties acknowledging that an interruption in utilities caused by a utility provider is not within Landlord's ability to control); or (iiiii) the presence of, or cleanup or remediation activities in connection with, of Hazardous Materials brought on the Premises by any Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct Parties (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice Notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Landlord’s receipt of any such notice, or occurs for five (5) non-consecutive business days during any calendar month, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (provided Landlord is sent a notice for each such Abatement Event) (in either of such events, the “"Eligibility Period”"), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using using, and does not use (“"Unusable Area”"), bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, the Unusable Area for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein (180) days after receipt in Tenant's reasonable judgment), the Base Rent and Tenant's Share of written notice from Tenant, Tenant Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to axxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant's sole and exclusive remedy at law or in equity to axxxx Rent for an Abatement Event. To the extent Tenant is entitled to abatement because of an event covered by Articles 11 or 13 of this Lease, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to then Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and 's abatement rights shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”)Articles 11 and 13 above. Except as provided in this Section 19.5.2 or elsewhere in this Lease, which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Roku, Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material a portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this the Lease; or , which substantially interferes with Tenant's use of the Premises, (ii) any failure to provide services, utilities or access to the presence ofPremises, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation the presence of utilities Hazardous Materials in, on or services caused by Landlord’s negligence around the Building or willful misconduct the Real Property in violation of any applicable law (any each such set of circumstances as set forth in items (i) through ), (ii), or (iii), ) above, to be known as an “Abatement Event”"ABATEMENT EVENT"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two four (24) consecutive business days after Landlord's receipt of any such notice, notice or occurs for ten eight (10) non-consecutive 8) business days after Landlord's receipt of any such notice in a any twelve (12) month period (in either of such events, the “Eligibility Period”"ELIGIBILITY PERIOD"), then the Base Rent and Additional Rent Tenant's Share of Direct Expenses and Tenant's obligation to pay for parking shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant's Share of Direct Expenses and Tenant's obligation to pay for parking for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. If Tenant's right to abatement occurs during a free rent period which arises after the Lease Commencement Date, Tenant's free rent period shall be extended for the number of days that the abatement period overlapped the free rent period (the "OVERLAP PERIOD"). Landlord shall have the right to extend the expiration date of the Lease for a period of time equal to the Overlap Period if Landlord sends a notice to Tenant of such election within ten (10) days following the end of the extended free rent period. Such right to xxxxx Base Rent and Tenant's Share of Direct Expenses and Tenant's parking charges shall be Tenant's sole and exclusive remedy at law or in equity for an Abatement Event; provided, however, that if Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten five (105) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”"ABATEMENT EVENT TERMINATION NOTICE") during such ten (10) five business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”"ABATEMENT EVENT TERMINATION DATE"), which Abatement Event Termination Date shall not be less than thirty ten (3010) business days, and not more than one six (16) yearmonths, following the delivery of the Abatement Event Termination Notice. If Tenant’s Abatement Event Termination Notice 's right to abatement occurs because of an eminent domain taking and/or because of damage or destruction to the Premises, Tenant's abatement period shall continue until Tenant has been given sufficient time and sufficient access to the Premises to rebuild that portion of the Premises, if any, which it is required to rebuild pursuant to this Lease and to install its property, furniture, fixtures, and equipment and to move in over a weekend. To the extent Tenant is entitled to abatement without regard to the Eligibility Period, because of an event described in Articles 11 or 13 of this Lease, then the Eligibility Period shall not be null and void (but only in connection with applicable. Notwithstanding the first notice sent foregoing, Tenant shall not have the right to terminate this Lease pursuant to the terms of this Section 19.6, if, as of the date of delivery by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice, (A) the first trust deed holder of the Real Property (the "BANK") has recorded a notice of default on the Real Property or filed a notice evidencing a legal action by the Bank against Landlord on the Real Property, and (B) the Bank diligently proceeds to gain possession of the Premises and, to the extent Bank does gain possession of the Premises, Bank shall diligently proceed to cure such Abatement Event. Except as provided in this Section 19.6.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, the Project parking facilities and/or the Building, (ii) any failure to provide services, utilities or access to the Premises, the Project parking facilities and/or the Building as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation the presence of utilities Hazardous Substances in, on or services caused around the Premises, the Building or the Project which could pose a health risk to occupants of the Premises and which was not brought to the Project by Landlord’s negligence Tenant or willful misconduct any Tenant Parties (any either such set of circumstances as set forth in items (i) through (iiii)-(iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement EventEvent (which notice, for the purpose of determining the effective date of delivery, will be deemed given when delivered to the Project’s property management office during Building Hours), and if such Abatement Event continues for two four (24) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a any twelve (12) month period after Landlord’s receipt of any such notice (in either of such events, the “Eligibility Period”), then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. To the extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such Article 11 or 13, as applicable, and the Eligibility Period shall not be applicable thereto. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event. Except as provided in this Section 19.5.2, which right may nothing contained herein shall be exercised only by delivery interpreted to mean that Tenant is excused from paying Rent due hereunder. To the extent Tenant has prepaid rent (as it does each month since Rent is due on the first day of each month) and Tenant is subsequently entitled to an abatement, such prepaid, and subsequently abated, Rent shall be (A) credited to the Rent next coming due under this Lease, or, if the Lease Term has expired or the Lease has been terminated in accordance with the terms hereof, (B) refunded to Tenant within thirty (30) days’ notice to Landlord and Landlord’s Lender (provided days following such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord expiration or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeearlier termination.
Appears in 1 contract
Samples: Office Lease (FIGS, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the First Commencement Date and required by this Lease; or , which substantially interferes with Tenant’s use of the Premises, (ii) the presence of, any failure to provide services or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises or the Parking Areas, regardless of whether caused by Landlord or a Landlord Party; or circumstances beyond Landlord’s control, (iii) cessation the presence of utilities Hazardous Materials in, on or services around the Building taking into account the standards and guidelines included in the definition of applicable laws with respect to Hazardous Materials, which pose a significant health risk to occupants of the Premises and are not caused by Landlord’s negligence Tenant or willful misconduct any of the Tenant Parties, or (any iv) because of the occurrence of a casualty (each such set of circumstances as set forth in items (i) through ), (ii), (iii) and (iv), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, notice or occurs for ten (10) non-days after Landlord’s receipt of any such notice(s) in any consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses and Tenant’s obligation to pay for parking shall be abated or reduced, as the case may be, after expiration retroactive to the date of the Eligibility Period commencement of the Abatement Event, for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after the commencement of the Abatement Event during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant’s Share of increases in Direct Expenses and Tenants obligation to pay for parking for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises for the purpose of conducting business therein. If, however, Tenant reoccupies any portion of the Premises during such period for the purpose of conducting business therein, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant during the period Tenant reoccupies such portion of the Premises. If Tenant’s right to abatement occurs during a free rent period which arises after the First Commencement Date, Tenant’s free rent period shall be extended for the number of days that the abatement period overlapped the free rent period (the “Overlap Period”). Landlord shall have the right to extend the expiration date of this Lease for a period of time equal to the Overlap Period if Landlord sends a notice to Tenant of such election within ten (10) days following the end of the extended free rent period. Subject to the provisions of Section 10.1 respecting personal injury or damage to Tenant’s property, such right to xxxxx Base Rent, Tenant’s Share of Direct Expenses and parking charges shall be Tenant’s sole and exclusive remedy at law for damages due to loss of use of the Premises for an Abatement Event; provided, however, that if Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten five (105) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) five business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty ten (3010) business days, and not more than one six (16) yearmonths, following the delivery of the Abatement Event Termination Notice. If Tenant’s Abatement Event Termination Notice right to abatement occurs because of an eminent domain taking and/or because of damage or destruction to the Premises, Tenant’s abatement period shall continue until Tenant has been given sufficient time and sufficient access to the Premises to rebuild that portion of the Premises, if any, which it is required to rebuild pursuant to this Lease and to install its property, furniture, fixtures, and equipment and to move in over a weekend. To the extent Tenant is entitled to abatement without regard to the Eligibility Period, because of an event described in Articles 11 or 13 of this Lease, then the Eligibility Period shall not be null and void applicable. Notwithstanding the foregoing, Tenant shall not have the right to terminate this Lease pursuant to the terms of this Section 19.8.2, if (but only in connection with A) as of the first notice sent date of delivery by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice, the first trust deed holder of the Building (the “Bank”) has recorded a notice of default on the Building or filed a notice evidencing a legal action by the Bank against Landlord on the Building, and (B) within ten (10) business days following the date of the Abatement Event Termination Notice the Bank notifies Tenant of its intent to proceed to gain possession of the Building, the Bank diligently proceeds to gain possession of the Building, and, to the extent the Bank does gain possession of the Premises, the Bank diligently proceeds to cure such Abatement Event. In addition, Tenant shall not have the right to terminate this Lease pursuant to the foregoing terms of this Section 19.8.2 if the Abatement Event otherwise giving rise to such termination right is due to a casualty pursuant to Article 11 or a taking pursuant to Article 13, it being agreed that Tenant’s termination rights, if any, with respect to any such damage or destruction or taking shall be governed by and set forth in Articles 11 and 13, respectively, and not this Section 19.8.2. Except as provided in this Section 19.8.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (KBS Real Estate Investment Trust II, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this Lease; , which substantially interferes with Tenant’s use of the Premises, or (ii) the presence ofany failure by Landlord to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises required by this Lease to be provided by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and either (A) Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event or (B) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event, then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. Tenant shall not have a right to receive an abatement of Rent if Tenant is otherwise entitled to receive proceeds from business interruption insurance that Tenant is obligated to carry pursuant to Section 10.3.4 above. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Sublease Agreement (Snowflake Inc.)
Abatement of Rent. In the event that Tenant is prevented from using the Premises If all or any material portion thereof (meaning that Tenant is unable to use that portion part of the Premises in the normal course shall be rendered untenantable by reason of its business) as a result of (i) any repairCasualty, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and the Additional Rent under Article 4 shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor untenantable area of the Premises bears to the total area of the Premises, for the period from the date of the Casualty to the earlier of (i) the date Tenant or any Subtenant reoccupies a portion of the Premises (in which case the Base Rent and the Additional Rent allocable to such reoccupied portion shall be payable by Tenant from the date of such occupancy) and (ii) the date the Premises is made tenantable (provided that if the Premises would have been tenantable at an earlier date but for Tenant is prevented from using having failed to cooperate with Landlord in effecting repairs or restoration or collecting insurance proceeds or for Tenant having failed diligently to perform Tenant’s Restoration Work, then the Premises shall be deemed to have been made tenantable on such earlier date and the abatement shall cease). Notwithstanding the preceding sentence, if (“Unusable Area”), bears to A) more than 50% of the total floor rentable area of the Premises shall have been rendered untenantable by a Casualty or (B) Tenant’s trading floor shall have been rendered untenantable by a Casualty or (C) Tenant’s data center shall have been rendered untenantable by a Casualty and provided that, in any of such events described in clauses (A), (B) or (C), Tenant shall not be occupying or using any portion of the Premises, the Base Rent and the Additional Rent under Article 4 shall be abated for the entire Premises for the period described in the preceding sentence. If Landlord Except as otherwise stated in the preceding sentence, (x) there shall be no abatement of Rent with respect to any portion of the Premises which has not cured been rendered untenantable by reason of a Casualty and which is accessible, whether or not other portions of the Premises are untenantable, and (y) any abatement of Rent applicable to any portion of the Premises which was rendered untenantable by reason of a Casualty shall cease on the earlier of the dates referred to in clauses (i), or (ii) of the first sentence of this Section 22.02, provided such Abatement Event within one hundred eighty portion is accessible, whether or not other portions of the Premises remain untenantable. Landlord shall give Tenant at least three (1803) days Business Days prior written notice of the date when Landlord anticipates that Landlord’s Restoration Work shall be Substantially Completed (as such term is defined in Section 2.04(c) with respect to Landlord’s Work). Within five (5) Business Days after receipt of written such notice from Landlord, Landlord and Tenant shall meet at the Premises and jointly inspect Landlord’s Restoration Work (it being agreed that the failure or refusal of Tenant to schedule such inspection and meet with Landlord therefor prior to the expiration of such five (5) Business Day period shall constitute Tenant’s agreement that Landlord’s Restoration Work is Substantially Complete). Promptly following Landlord’s and Tenant’s joint inspection of Landlord’s Restoration Work, Tenant shall prepare a punchlist of any items of unfinished Landlord’s Restoration Work required by this Lease to be performed by Landlord (“Tenant’s Restoration Work Punchlist”). If Tenant shall fail to prepare and deliver Tenant’s Restoration Work Punchlist to Landlord within two (2) Business Days (with time being of the essence) after the parties’ inspection of Substantial Completion of Landlord’s Restoration Work, then Tenant shall be deemed to have the agreed that, except for latent defects, there are no unfinished items of Landlord’s Restoration Work, and Tenant shall thereby waive its right to terminate this Lease during deliver Tenant’s Restoration Work Punchlist. Landlord shall endeavor to perform the first ten work required to complete the unfinished items of Landlord’s Restoration Work identified in Tenant’s Restoration Work Punchlist (10if any) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of within thirty (30) days’ notice days after Landlord’s receipt of Tenant’s Restoration Work Punchlist (subject to day-for-day extension(s) of such period due to Force Majeure and Tenant Delay), provided that Landlord shall not dispute the inclusion of such item(s) on Tenant’s Restoration Work Punchlist, and provided further that Tenant shall give Landlord reasonable access to the Premises to complete such Landlord’s Restoration Work (i.e., those items identified on Tenant’s Restoration Work Punchlist), it being agreed that Landlord and Tenant shall take commercially reasonable steps to coordinate Landlord’s completion of the items on Tenant’s Restoration Work Punchlist and Tenant’s performance of the Tenant’s Restoration Work, so that neither is delayed in the completion of its work. Any dispute as to whether an item has been properly placed on Tenant’s Restoration Work Punchlist that cannot be resolved by the parties within fifteen (15) days after the date Tenant has given Tenant’s Restoration Work Punchlist to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (with time being of the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”essence), which Abatement Event Termination Date may be submitted to arbitration in accordance with Article 21. Nothing contained in this Article 22 shall not be less than thirty (30) days, and not more than one (1) year, following the delivery relieve Tenant from any liability that may exist as a result of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeany Casualty.
Appears in 1 contract
Samples: Lease (KCG Holdings, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repairfailure to provide services, maintenance utilities or alteration negligently performed by Landlord, or which Landlord failed access to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by to the extent Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct is obligated to provide same under this Lease (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days Business Days after Landlord’s receipt of any such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent Fixed Rent, Tenant’s Tax Payment, and Additional Rent Tenant’s Operating Payment shall be abated or reduced, as the case may be, after the expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Fixed Rent, Tenant’s Tax Payment, Tenant and Tenant’s Operating Payment for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Fixed Rent, Tenant’s Tax Payment, and Tenant’s Operating Payment shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event. To the extent Tenant is entitled to abatement without regard to the Eligibility Period because of an event described in Section 11.3 or Article 12 of this Lease, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (then the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) daysapplicable. Except as provided in this Section 26.25, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice nothing contained herein shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Catasys, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using If the Premises is damaged by a Casualty, Basic Rent and Escalation Charges payable by Tenant shall xxxxx proportionately for the period from the date of such fire or other casualty until the earlier of (a) the date that Landlord substantially completes Landlord’s Restoration Work (i.e. the date that Landlord completes Landlord’s Restoration Work except for (i) items of work (and, if applicable, adjustment of equipment and fixtures) which can be completed after occupancy has been taken without causing undue interference with Tenant’s use of the Premises (i.e. so called “punch list” items) and (ii) items which, in accordance with good construction practice, should be performed after the performance of Tenant’s Restoration Work) provided that if Landlord would have completed Landlord’s Restoration Work at an earlier date but for Tenant having failed to cooperate with Landlord in effecting such Work or collecting insurance proceeds, then the Premises shall be deemed to have been repaired and restored on such earlier date and the abatement shall cease, or (b) the date Tenant or other occupant reoccupies any material portion thereof (meaning that Tenant is unable to use that portion of the Premises (in which case the normal course Basic Rent and Escalation Charges allocable to such reoccupied portion shall be payable by Tenant from the date of its business) as a result of such occupancy). Notwithstanding any provision contained in this Lease to the contrary, (i) there shall be no abatement with respect to any repairportion of the Premises which has not been rendered untenantable by reason of fire or other casualty and which is accessible, maintenance whether or alteration negligently performed by Landlordnot other portions of the Premises are untenantable, or which Landlord failed to perform, as required by this Lease; or and (ii) any abatement of Basic Rent or Escalation Charges applicable to any portion of the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought Premises which was rendered untenantable by reason of a casualty shall cease on the Premises by Landlord or a Landlord Party; earliest of the dates referred to in clauses (a) or (iiib) cessation of utilities the preceding sentence provided such portion is accessible, whether or services caused by not other portions of the Premises remain untenantable. Landlord’s negligence or willful misconduct (any such set determination of circumstances as set forth in items (i) through (iii), above, the date Landlord’s Restoration Work to the Premises shall have been substantially completed shall be known as an “Abatement Event”), then controlling unless Tenant shall give disputes same by notice to Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for given within ten (10) non-consecutive business days in a twelve (12) month period (in either after such determination by Landlord, and pending resolution of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenantdispute, Tenant shall have pay Basic Rent and Escalation Charges in accordance with Landlord’s determination. Notwithstanding the right foregoing, if by reason of any act or omission by Tenant, any subtenant or any of their respective partners, directors, officers, servants, employees, agents or contractors, Landlord, any Mortgagee shall be unable to terminate this Lease during collect all of the first ten insurance proceeds (10including, without limitation, rent insurance proceeds) business days of each calendar month following applicable to the end of such 180-day period until such time as Landlord has cured the Abatement Eventcasualty, then, without prejudice to any other remedies which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to available against Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and there shall be effective as no abatement of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery Basic Rent or of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination NoticeEscalation Charges.
Appears in 1 contract
Samples: Lease Agreement (Arsanis, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “"Eligibility Period”"), then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant's right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery Tenant's Share of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Direct Expenses shall be null Tenant's sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder. 795344.01/WLA 377082-00004//ejs/ejs -42- 000 X. Xxxxxxxx Xxxxxxxxx [Arrowhead Pharmaceuticals, Inc.]
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by the Lease, which materially interferes with Tenant’s use of the Premises, (ii) any failure to provide services, utilities, parking or access to the Premises as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation any “Renovations,” as that term is defined in Section 29.29 of utilities or services caused by Landlord’s negligence or willful misconduct this Lease (any such set of circumstances as set forth in items (i), (ii) through or (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 19.5.2, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Office Lease (Blucora, Inc.)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as after the Lease Commencement Date and required by this the Lease; , which substantially interferes with Tenant's use of the Premises, or (ii) the presence ofany failure to provide services, utilities or cleanup or remediation activities in connection with, Hazardous Materials brought on access to the Premises by as required of Landlord or a Landlord Party; or pursuant to the terms of hereof (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall shall, immediately, and in no event later than two (2) business days after the occurrence of any Abatement Event, give Landlord written notice (the "Abatement Notice") of such Abatement Event, and if such which notice shall state the date the Abatement Event continues for two (2) consecutive business days after such noticecommenced, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, and the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of for the Eligibility Period period commencing on the date the Abatement Event commenced and continuing for such further time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises for a period of time and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time during which Tenant is so prevented from effectively conducting its business therein, the Rent for the entire Premises shall be abated for such time as Tenant continues to be so prevented from using, and does not use, the Premises. If If, however, Tenant reoccupies any portion of the Premises during such period, the rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to abatx Xxxt shall be Tenant's sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 19.5, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder. Notwithstanding the foregoing, in the event Tenant fails to give Landlord has not cured such the Abatement Event Notice within one hundred eighty (180) days after receipt of written notice from Tenantthe time prescribed in this Section 19.5, Tenant shall have the right not lose its rights to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the abatx xxxt for an Abatement Event, which right may be exercised only by delivery of thirty (30) days’ notice to provided any such abatement shall commence no sooner than the date that the Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to actually receives Tenant) (the “'s Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repairbreach by Landlord of this Lease after the expiration of any applicable cure period, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on any entry by Landlord into the Premises by Landlord or a Landlord Party; pursuant to the terms of Article 27 of this Lease, or (iii) cessation of utilities or services caused by Landlord’s any negligence or willful misconduct of Landlord, in the case of each of items (i), (ii) and (iii), to the extent the subject act or omission of Landlord substantially interferes with Tenant’s use of the Premises (any such set of circumstances as set forth in items (i), (ii) through or (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two three (23) consecutive business days after Xxxxxxxx’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent Tenant’s Share of Direct Expenses shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from Tenanteffectively conducting its business therein, Tenant the Base Rent and Xxxxxx’s Share of Direct Expenses for the entire Premises shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Premises. If, however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. Such right to xxxxx Base Rent and Xxxxxx’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 6.7, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and nothing contained herein shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by interpreted to mean that Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticeis excused from paying Rent due hereunder.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant's use of the Premises, or (ii) any failure to provide or allow services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “"Abatement Event”"), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord's receipt of any such notice, or occurs for ten notice (10the "Eligibility Period") non-consecutive business days in a twelve and either (12A) month period (in either Landlord does not diligently commence and pursue to completion the remedy of such eventsAbatement Event, (B) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event or (C) Landlord does not complete the “Eligibility Period”)remedy of such Abatement Event within fifteen (15) days from receipt of the Abatement Event notice, then the Base Rent Rent, Tenant's Share of Direct Expenses, and Additional Rent Tenant's obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, for the Premisesnormal conduct of Tenant's business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant 's Share of Direct Expenses for the entire Premises and Tenant's obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Xxxxxx's right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery Xxxxxx's Share of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Direct Expenses shall be null Tenant's sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 19.5.2, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract
Samples: Lease (Myriad Genetics Inc)
Abatement of Rent. In Notwithstanding Paragraph D above to the event that contrary, if: (a) any services or utilities required to be provided by Landlord hereunder are interrupted or discontinued as a result of Landlord's (or its agent's or employee's) negligence or any other cause (provided such interruption or discontinuance is not caused by Tenant and/or any Transferees (or their respective employees or agents), and Tenant is prevented from using unable to and does not use, the Premises (or any material portion thereof exceeding 5,000 square feet of rentable area) as a result of such interruption or discontinuance, and (meaning b) Tenant shall have given written notice respecting such interruption or discontinuance to Landlord, and Landlord shall have failed to cure such interruption or discontinuance within: (i) four (4) consecutive business days after receiving such notice (if such interruption or discontinuance is a result of Landlord's (or its agent's or employee's) negligence), or (ii) thirty (30) consecutive days after receiving such notice (if such interruption or discontinuance is not the result of Landlord's (or its agent's or employee's) negligence, then Base Rent hereunder shall thereafter be abated (in proportion to the number of square feet of rentable area that Tenant is unable to and does not use that portion of the Premises in the normal course of its business) as a result of (i) any repairresult, maintenance or alteration negligently performed as reasonably determined by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Rent shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using the Premises, or a portion thereof, in the proportion that the floor area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”), bears to the total floor area of the Premises. If Landlord has not cured such Abatement Event within one hundred eighty (180) days after receipt of written notice from Tenant, Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as such services or utilities are restored or Tenant begins using the Premises again, whichever shall first occur. Notwithstanding anything to the contrary contained herein, if Tenant, or its contractors, or their respective officers, employees, invitees or agents, delay Landlord has cured in restoring the Abatement Eventutilities or services, which right may be exercised only Landlord shall have additional time to complete the restoration equal to such delay and Tenant shall pay Landlord all Rent for the period of such delay. Tenant's continued use of the Telecommunications Equipment Room by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (using the “Abatement Event Termination Notice”) during such ten (10) business-day period, and Generator under Exhibit E hereto shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not deemed to be less than thirty (30) days, and not more than one (1) year, following the delivery continued use of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt Telecommunications Room for purposes of the Abatement Event Termination Noticethis provision.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using of damage to the Leased Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises which does not result in the normal course termination of its business) as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, as required by this Lease; or (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any such set of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Monthly Rent (and any Additional Rent Rent) shall be temporarily abated or reducedduring the period of Landlord’s and/or Tenant’s (as applicable) restoration, as in proportion in the case may be, after expiration degree to which Tenant’s use of the Eligibility Period for Leased Premises during the restoration period is impaired by such time that Tenant continues to be so prevented from using damage. In addition, if such casualty shall have damaged the Premises, Building or a portion thereof, in the proportion that the floor area of the any portion of the Common Area providing access to or parking for the Leased Premises are damaged by casualty to the extent that Tenant is prevented from using (“Unusable Area”), bears does not have reasonable access to or parking for the total floor area of the Premises. If Leased Premises and Landlord has not cured such Abatement Event within one hundred eighty a reasonable time (180not to exceed ninety (90) days after receipt from the date of written notice casualty) provided a reasonable parking alternative for Tenant at the Project or within reasonable proximity to the Building, then Landlord shall allow Tenant a proportionate abatement of Base Monthly Rent and Property Operating Expenses during the time and to the extent the Leased Premises are unfit for occupancy for the purposes permitted under this Lease, or any portions of the Common Area providing access to or parking for the Leased Premises are damaged by Casualty to the extent that Tenant does not have reasonable access to or parking for the Leased Premises, and in any of those events the Leased Premises are not occupied by Tenant as a result thereof. If a casualty: (i) shall have damaged the parking facilities so that Tenant does not have reasonable access to or parking for the Leased Premises, then, subject to Laws, Restrictions and the rights of other tenants, Landlord shall use good faith efforts to explore reasonable parking alternatives for Tenant at the Project or in offsite areas within reasonable proximity to the Building, and, in such event, Landlord shall be responsible for the costs of providing a shuttle to and from Tenantsuch offsite Parking and the Building, provided that nothing herein shall be deemed to create any obligation of Landlord to incur significant expense or liability in doing so, (ii) shall have damaged the Cafe & Fitness Center, then, subject to Laws, Restrictions and the rights of other tenants, Tenant shall have no obligation to pay any Property Operating Expenses associated with such facilities, and Landlord shall reasonably cooperate with Tenant to explore options for Tenant’s employees exercise elsewhere in the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period Project, until such time as facilities are rebuilt, and/or (iii) shall have damaged a portion of the Common Areas necessary for Tenant’s access to the Building, then, subject to Laws, Restrictions and the rights of other tenants, Landlord has cured shall use good faith efforts to explore reasonable alternative means of access to the Abatement EventBuilding at the Project with Tenant, which right may be exercised only by delivery of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and that nothing herein shall be effective as deemed to create any obligation of a date set forth Landlord to incur significant expense or liability in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Noticedoing so.
Appears in 1 contract
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises Property or any material portion thereof thereof, for thirty consecutive (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business30) days ("Eligibility Period") as a result of (ia) through no fault of Tenant, any repairdamage or destruction (b) through no fault of Tenant, maintenance the enactment or alteration negligently performed by Landlordenforcement of any Legal Requirement that effectively prohibits the use the Property for the Primary Intended Use, or which Landlord failed to perform, as required by this Lease; or (iib) because of the presence ofof Hazardous Substances in, on or cleanup or remediation activities in connection with, Hazardous Materials brought on around the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services Property not caused by Landlord’s negligence or willful misconduct (any such set Tenant which could pose a health risk to users of circumstances as set forth in items (i) through (iii), above, to be known as an “Abatement Event”)the Property, then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two (2) consecutive business days after such notice, or occurs for ten (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”), then the Base Rent and Additional Tenant's Rent shall be abated or reduced, as the case may be, after expiration as of the commencement of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use, the Premises, Property or a portion thereof, in the proportion that the floor area of the portion of the Premises Property that Tenant is prevented from using (“Unusable Area”)using, bears and does not use, impacts the operation of Tenant's business on the Property. However, in the event that Tenant is prevented from conducting, and does not conduct, its business in any portion of the Property for a period of time in excess of the Eligibility Period, and the remaining portion of the Property is not sufficient to allow Tenant to conduct in a reasonable manner its business therein, and if Tenant does not conduct its business from such remaining portion, then for such time after expiration of the Eligibility Period during which Tenant is so prevented from conducting in a reasonable manner its business therein, the Rent for the entire Property shall be abated; provided, however, if Tenant reoccupies and conducts its business from any portion of the Property during such period, the Rent equitably allocable to such reoccupied portion shall be payable by Tenant from the date such business operations commence. If Tenant's right to abatement occurs because of an eminent domain or taking Tenant's abatement period shall continue until Tenant has been given sufficient time as reasonably determined by Tenant's contractor and sufficient access to the total floor area Property to rebuild such portion it is required to rebuild (including the Tenant Improvements) to the extent the same shall have been removed as a result of such damage or destruction. To the extent Tenant is entitled to abatement without regard to the Eligibility Period, because of an event covered by this Lease, then the Eligibility Period shall not be applicable. In the event Tenant is prevented from using, and does not use, the Property or any portion thereof, for a period of 180 consecutive days as a result of (a) through no fault of Tenant, the enactment or enforcement of any Legal Requirement that effectively prohibits the use the Property for the Primary Intended Use, or (b) because of the Premises. If Landlord has presence of Hazardous Substances in, on or around the Property not cured such Abatement Event within one hundred eighty (180) days after receipt caused by Tenant which could pose a health risk to users of written notice from Tenantthe Property, then Tenant shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until such time as Landlord has cured the Abatement Event, which right may be exercised only by delivery of thirty (30) days’ giving written notice to Landlord.
(a) the Net Operating Income for the Property (exclusive of Tenant debt service under the Loan Amount, if any, or any Leasehold Financing, if any prior to payment of Rent hereunder) does not equal or exceed 110% of the Rent, then (A) the Rent shall not xxxxx, and (B) Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided shall not make any loan to Tenant) (the “Abatement Event Termination Notice”) during such ten (10) business-day period, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date shall not be less than thirty (30) days, and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice shall be null and void (but only in connection with the first notice sent by Tenant with respect to each separate Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice.
Appears in 1 contract
Samples: Lease (Golf Trust of America Inc)
Abatement of Rent. In the event that Tenant is prevented from using using, and does not use, the Premises or any material portion thereof (meaning that Tenant is unable to use that portion of the Premises in the normal course of its business) thereof, as a result of (i) any repair, maintenance or alteration negligently performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease; or Lease (ii) the presence of, or cleanup or remediation activities in connection with, Hazardous Materials brought on the Premises by Landlord or a Landlord Party; or (iii) cessation of utilities or services caused by Landlord’s negligence or willful misconduct (any either such set of circumstances as set forth in items (i) through or (iiiii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord written notice of such Abatement Event, and if such Abatement Event continues for two five (25) consecutive business days after Landlord’s receipt of any such notice, or occurs for ten notice (10) non-consecutive business days in a twelve (12) month period (in either of such events, the “Eligibility Period”)) and either (A) Landlord does not diligently commence and pursue to completion the remedy of such Abatement Event or (B) Landlord receives proceeds from its rental interruption insurance which covers such Abatement Event, then the Base Rent Rent, Tenant’s Share of Direct Expenses, and Additional Rent Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using using, and does not use for the Premisesnormal conduct of Tenant’s business, the Premises or a portion thereof, in the proportion that the floor rentable area of the portion of the Premises that Tenant is prevented from using (“Unusable Area”)using, and does not use, bears to the total floor rentable area of the Premises. If Landlord has ; provided, however, in the event that Tenant is prevented from using, and does not cured use, a portion of the Premises for a period of time in excess of the Eligibility Period and the remaining portion of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such Abatement Event within one hundred eighty (180) days remaining portion, then for such time after receipt expiration of written notice the Eligibility Period during which Tenant is so prevented from effectively conducting its business therein, the Base Rent and Tenant, Tenant ’s Share of Direct Expenses for the entire Premises and Tenant’s obligation to pay for parking shall have the right to terminate this Lease during the first ten (10) business days of each calendar month following the end of such 180-day period until be abated for such time as Landlord has cured Tenant continues to be so prevented from using, and does not use, the Abatement EventPremises. If, which right may however, Tenant reoccupies any portion of the Premises during such period, the Rent allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be exercised only payable by delivery Tenant from the date Tenant reoccupies such portion of thirty (30) days’ notice to Landlord and Landlord’s Lender (provided such Lender’s name and notice address were previously provided to Tenant) (the “Premises. To the extent an Abatement Event Termination Notice”) during is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to xxxxx rent shall be governed by the terms of such ten (10) business-day periodArticle 11 or 13, as applicable, and shall be effective as of a date set forth in the Abatement Event Termination Notice (the “Abatement Event Termination Date”), which Abatement Event Termination Date Eligibility Period shall not be less than thirty (30) days, applicable thereto. Such right to xxxxx Base Rent and not more than one (1) year, following the delivery of the Abatement Event Termination Notice. Tenant’s Abatement Event Termination Notice Share of Direct Expenses shall be null Tenant’s sole and void (but only exclusive remedy for rent abatement at law or in connection with the first notice sent by Tenant with respect to each separate equity for an Abatement Event) if Landlord or Landlord’s Lender(s) cures such Abatement Event within such thirty (30) day period following receipt of the Abatement Event Termination Notice. Except as provided in this Section 6.4, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Appears in 1 contract