ALTERATIONS AND INSTALLATIONS. TENANT shall not make any alterations, improvements or additions of any kind or nature to any part of the Space without the prior written consent of LANDLORD. which consent shall be in LANDLORD's sole discretion. LANDLORD may require that any such improvements or additions be performed by LANDLORD at TENANT's expense. All alterations, improvements and additions to the Space shall be made in accordance with plans and specifications prepared by TENANT and approved by LANDLORD which shall be in compliance with all applicable building codes, governmental requirements, as well as all approvals and requirements of MDAD, the Master Lease and Sub-Lease. Approval by LANDLORD of the plans and specifications shall not constitute the assumption of any liability on the part of LANDLORD for their compliance or conformity with applicable building codes, governmental requirements, the requirements ofMDAD and the requirements of this Lease, the Master Lease, the Sub-Lease or for their accuracy. Any and all alterations, improvements and additions to the Space approved by LANDLORD shall be done in a good workmanlike manner using first-quality materials. TENANT shall require its contractor and subcontractors to furnish LANDLORD Certificates of Insurance evidencing insurance coverages with at least five million dollars ($5,000,000) in liability insurance together with such other insurance as may be required in compliance with Article 12 below. Notwithstanding any other provision in this Lease, following and during construction, TENANT shall be responsible for all maintenance and repair of alterations, improvements or additions constructed and permitted under this Section 11.5. At the time of termination of this Lease, all alterations, improvements or additions constructed and permitted under this Section 11.5 shall. at LANDLORD's election, either become property of LANDLORD or be removed on or before the Expiration Date by TENANT and the Space restored to the same condition as existed prior to TENANT's alterations which restoration obligation shall survive the expiration or earlier termination of this Lease. LANDLORD's reversionary interest to any and all such alterations, improvements or additions shall at all times be prior and superior to any interest of any lender of TENANT, or of any other entity claiming any purchase money lien or other interest therein.
Appears in 1 contract
ALTERATIONS AND INSTALLATIONS. TENANT (a) Except as may otherwise be expressly provided in this Article 3 and in Article 32 of this Lease, Tenant shall make no Tenant's Initial Improvements, as such terms is hereinafter defined, alterations, installations, additions or improvements (collectively, the "Improvements") in or to the demised premises without Landlord's prior written consent. All Improvements including, without limitation, Tenant's Initial Improvements must be done in strict compliance with the ICIP Laws (for as long as the Building continues to qualify for ICIP benefits), as such term is hereinafter defined. Except, as may be expressly provided otherwise in this Lease, all such work shall be done only by a reputable general contractor or construction manager selected by Tenant and approved by Landlord, which approval shall not make be unreasonably withheld or delayed, provided such general contractor or construction manager has a good business and other reputation with substantial general contracting or construction management experience in First-Class Office Buildings, as the case may be, it being understood and agreed, however, that any alterations, improvements or additions of any kind or nature work relative to any part life safety system or any equipment associated therewith shall be done only by the contractor for that work for the Building designated by Landlord, and any work involving any of the Space without the prior written consent items referred to in subclauses (i), (ii) and (iii) of LANDLORD. which consent Section 3.01(c) of this Lease shall be done only by contractors selected by Tenant from a list of at least five (S) subcontractors from each applicable trade submitted by Landlord to Tenant, each of which subcontractors shall be reputable and have substantial contracting experience in LANDLORDthe applicable trade in First-Class Office Buildings. Landlord shall act reasonably in considering the addition to the list of contractors of those contractors proposed by Tenant from time to time (provided such contractors proposed by Tenant have a good business and other reputation and have substantial contractor experience in First-Class Office Buildings), and will not unreasonably delay responding to such a proposal by Tenant. Except as otherwise provided in Article 32 hereof, all Improvements shall be done at Tenant's sole discretion. LANDLORD may require that any such improvements or additions be performed by LANDLORD at TENANT's expense. All alterationsImprovements which may unreasonably interfere with the use and employment by other occupants of the Building of such occupant's space (such as, improvements and additions for example, core drilling) shall be done at times other than during business hours or business days (hereinafter defined). Landlord hereby consents to the Space use by Tenant of the contractors, sub-contractors and construction manager approved by Landlord in connection with the initial tenant installation by Tenant pursuant to the CSFB Lease, as such term is hereinafter defined.
(b) Prior to making any Improvements, Tenant shall submit to Landlord complete plans and specifications (hereinafter referred to as "Tenant's Plans") for such proposed Improvements together with Tenant's non-binding estimate of the cost of constructing such Improvements. Notwithstanding the foregoing, Tenant shall not required to submit Tenant's Plans for Improvements (i) for which no plans are required to be made filed with the New York City Buildings Department (or any other governmental body), (ii) which are not Material Improvements, as such term is hereinafter defined, and (iii) with respect to which the preparation of such plans is not customary in accordance with good construction practice, but in such event, Tenant shall, at least five (S) days in advance of Tenant's commencing any such Improvements, nevertheless notify Landlord of such Improvements, which notification shall include a description, in reasonable detail, of the proposed Improvement, and Tenant shall in any event deliver Landlord such plans and specifications prepared by TENANT and approved by LANDLORD which for Improvements as Tenant may actually prepare or cause to be prepared. Provided Tenant shall be in compliance with all the applicable building codes, governmental requirements, as well as all approvals and requirements of MDAD, the Master Lease and Sub-Lease. Approval by LANDLORD of the plans and specifications shall not constitute the assumption of any liability on the part of LANDLORD for their compliance or conformity with applicable building codes, governmental requirements, the requirements ofMDAD and the requirements provisions of this Lease, the Master Leaseincluding, the Sub-Lease or for their accuracy. Any and all alterationswithout limitation, improvements and additions to the Space approved by LANDLORD shall be done in a good workmanlike manner using first-quality materials. TENANT shall require its contractor and subcontractors to furnish LANDLORD Certificates of Insurance evidencing insurance coverages with at least five million dollars ($5,000,000) in liability insurance together with such other insurance as may be required in compliance with Article 12 below. Notwithstanding any other provision in this Lease3, following and during constructionand, TENANT shall be responsible for all maintenance and repair of alterationswhere applicable, improvements or additions constructed and permitted under this Section 11.5. At the time of termination Article 32 of this Lease, all alterations, improvements or additions constructed and permitted provided Tenant is not in default - under this Section 11.5 shall. Lease beyond any applicable grace period, Tenant, at LANDLORDTenant's electionsole cost and expense, either become property of LANDLORD or be removed on or before the Expiration Date by TENANT and the Space restored may undertake Improvements which are not Material Improvements without obtaining Landlord's consent to the same condition as existed prior to TENANT's alterations which restoration obligation shall survive the expiration or earlier termination of this Lease. LANDLORD's reversionary interest to any and all such alterations, improvements or additions shall at all times be prior and superior to any interest of any lender of TENANT, or of any other entity claiming any purchase money lien or other interest thereinImprovements.
Appears in 1 contract
Sources: Lease Agreement (Credit Suisse First Boston Usa Inc)
ALTERATIONS AND INSTALLATIONS. TENANT shall not make any alterations, improvements or additions of any kind or nature to any part of the Space without the prior written consent of LANDLORD. which consent shall (a) Except as may otherwise be expressly provided in LANDLORD's sole discretion. LANDLORD may require that any such improvements or additions be performed by LANDLORD at TENANT's expense. All alterations, improvements this Article 3 and additions to the Space shall be made in accordance with plans Article 32 and specifications prepared by TENANT and approved by LANDLORD which shall be in compliance with all applicable building codes, governmental requirements, as well as all approvals and requirements of MDAD, the Master Lease and Sub-Lease. Approval by LANDLORD of the plans and specifications shall not constitute the assumption of any liability on the part of LANDLORD for their compliance or conformity with applicable building codes, governmental requirements, the requirements ofMDAD and the requirements Article 44 of this Lease, the Master LeaseTenant shall make no alterations, installations, additions or improvements (collectively, the Sub-Lease "Improvements") in or for their accuracy. Any and all alterations, improvements and additions to the Space approved by LANDLORD shall demised premises without Landlord's prior written consent. All Improvements, including, without limitation, all Additional Work, as such term is hereinafter defined, must be done in a good workmanlike manner using first-quality materialsstrict compliance with the ICIP Laws (for as long as the Building continues to qualify for ICIP benefits), as such term is hereinafter defined. TENANT shall require its contractor and subcontractors to furnish LANDLORD Certificates of Insurance evidencing insurance coverages with at least five million dollars ($5,000,000) in liability insurance together with such other insurance Except as may be required in compliance with Article 12 below. Notwithstanding any other provision expressly provided otherwise in this Lease, following and during construction, TENANT all such work shall be responsible done only by a reputable general contractor or construction manager selected by Tenant and approved by Landlord, which approval shall not be unreasonably withheld or delayed, provided such general contractor or construction manager has a good business and other reputation with substantial general contracting or construction management experience in First-Class Office Buildings, as the case may be, it being understood and agreed, however, that any work relative to any life safety system or any equipment associated therewith shall be done only by the contractor for that work for the Building designated by Landlord, and any work involving any of the items referred to in subclauses (i), (ii) and (iii) of Section 3.01(c) of this Lease shall be done only by contractors selected by Tenant from a list of at least five (5) subcontractors from each applicable trade submitted by Landlord to Tenant, each of which subcontractors shall be reputable and have substantial contracting experience in the applicable trade in First-Class Office Buildings. Landlord shall act reasonably in considering the addition to the list of contractors of those contractors proposed by Tenant from time to time (provided such contractors proposed by Tenant have a good business and other reputation and have substantial contractor experience in First-Class Office Buildings), and will not unreasonably delay responding to such a proposal by Tenant. Except as otherwise provided in Article 32 hereof, all maintenance Improvements shall be done at Tenant's sole expense without, however, waiver of Tenant's right to seek reimbursement from the ▇▇▇ (as hereinafter defined) pursuant to agreements between the ▇▇▇ and repair Tenant. Improvements which may unreasonably interfere with the use and enjoyment by other occupants of alterationsthe Building of such occupant's space (such as, improvements for example, core drilling) shall be done at times other than during business hours or additions constructed and permitted under this Section 11.5. At business days (hereinafter defined).
(b) Prior to making any Improvements (other than for the time of termination Additional Work, as such term is defined in Article 32 of this Lease), all alterationsTenant shall submit to Landlord complete plans and specifications (hereinafter referred to as "Tenant's Plans") for such proposed Improvements together with Tenant's non-binding estimate of the cost of constructing such Improvements. Notwithstanding the foregoing, improvements Tenant shall not be required to submit Tenant's Plans for Improvements (i) for which no plans are required to be filed with the New York City Buildings Department (or additions constructed and permitted under this Section 11.5 shall. at LANDLORD's election, either become property of LANDLORD or be removed on or before the Expiration Date by TENANT and the Space restored to the same condition as existed prior to TENANT's alterations which restoration obligation shall survive the expiration or earlier termination of this Lease. LANDLORD's reversionary interest to any and all such alterations, improvements or additions shall at all times be prior and superior to any interest of any lender of TENANT, or of any other entity claiming governmental body), (ii) which are not Material Improvements, as such term is hereinafter defined, and (iii) with respect to which the preparation of such plans is not customary in accordance with good construction practice, but in such event, Tenant shall, at least five (5) days in advance of Tenant's commencing any purchase money lien such Improvements, nevertheless notify Landlord of such Improvements, which notification shall include a description, in reasonable detail, of the proposed Improvement, and Tenant shall in any event deliver to Landlord such plans for Improvements as Tenant may actually prepare or other interest therein.cause to be
Appears in 1 contract
Sources: Lease Agreement (Credit Suisse First Boston Usa Inc)
ALTERATIONS AND INSTALLATIONS. TENANT (a) Tenant shall not make any repairs, alterations, installations, additions or improvements in or additions of any kind to the Premises (collectively or nature to any part of individually, "TENANT'S CHANGES") without first obtaining the Space without the prior written consent of LANDLORDone or more Senior Interest Holders, if, and to the extent, required under the documents evidencing the Senior Interests (all other such Tenant Changes, "CONSENT REQUIRED CHANGES"), provided, however, Tenant shall have received copies of all such Senior Interests .
(b) Tenant shall simultaneously deliver any such documents to Senior Interest Holder and Landlord with respect to any Tenant's Changes for which the consent of, or notice to any Senior Interest Holder is required. which consent Tenant shall pay all costs and expenses relating to any Tenant's Changes and shall cause same to be performed and completed in accordance with the terms, covenants, conditions, provisions and agreements of this Lease.
(c) Consent Required Changes shall be effected in LANDLORD's sole discretion. LANDLORD may require that any such improvements or additions be performed by LANDLORD at TENANT's expense. All alterations, improvements a good and additions to the Space shall be made workerlike manner in accordance with plans and specifications prepared first approved in writing by TENANT such Senior Interest Holder. Tenant shall reimburse Landlord promptly upon demand for any costs and approved expenses actually and reasonably incurred by LANDLORD which Landlord in connection with Landlord's and any Senior Interest Holder's review of such Tenant's plans and specifications.
(d) Upon receipt of any Senior Interest Holder's objections to any Consent Required Changes, Tenant shall be in compliance with all applicable building codes, governmental requirements, as well as all approvals and requirements of MDAD, the Master Lease and Sub-Lease. Approval by LANDLORD of the promptly submit revised plans and specifications addressing such Senior Interest Holder's objections. This process of revision and review shall not constitute the assumption continue until a full and complete set of plans and specifications for any liability on the part of LANDLORD for their compliance or conformity with applicable building codes, governmental requirements, the requirements ofMDAD and the requirements of this Lease, the Master Lease, the Sub-Lease or for their accuracy. Any and all alterations, improvements and additions to the Space subsequent Consent Required Changes are approved by LANDLORD any such Senior Interest Holders.
9.2. Prior to commencement of Tenant's Changes, Tenant shall obtain and deliver to Landlord the following:
(a) all required permits and authorizations of governmental agencies having jurisdiction;
(b) worker's compensation insurance covering all persons employed for such work;
(c) reasonable comprehensive general liability and property damage insurance naming Landlord, its designees and Tenant as insureds, with coverage of at least $5,000,000 single limit; and
(d) any other insurance which Landlord may reasonably request.
9.3. All Tenant's Changes shall be performed in accordance with the following provisions:
(a) All work shall be done in a good workmanlike manner using first-quality materials. TENANT and workerlike manner;
(b) All Tenant's Changes shall require its contractor be effected and subcontractors to furnish LANDLORD Certificates of Insurance evidencing insurance coverages with at least five million dollars ($5,000,000) in liability insurance together with such other insurance as may be required maintained in compliance with Article 12 below. Notwithstanding Legal Requirements;
(c) Tenant shall keep the Premises and the Land free and clear of all liens for any other provision in this Lease, following and during construction, TENANT work or material furnished claimed to have been furnished to Tenant or to the Premises on Tenant's behalf;
(d) Tenant's Changes shall be responsible for subject to inspection by representatives of Landlord, and such representatives shall be permitted access and the opportunity to inspect same (during the progress thereof and following completion) at all maintenance and repair reasonable times, but this provision shall not in any way whatsoever (i) create any obligation on Landlord to conduct such an inspection or (ii) any warranty on Landlord's part that any Tenant's Changes have in fact been completed within the requirements of alterations, improvements or additions constructed and permitted under this Section 11.510.3;
(e) In connection with Tenant's Changes, Landlord shall not be liable for any labor or materials furnished or to be furnished to Tenant upon credit, and no mechanic's or other lien for any such labor or materials shall attach to or affect the reversion or other estate or interest of Landlord in and to the Premises. At Landlord may elect to record and post notices of non-responsibility in connection with Tenant's Changes; and
(f) Promptly following completion of any Tenant's Changes, Tenant, at Tenant's expense, shall obtain (to the time extent required by Legal Requirements) certificates of termination final approval of this Leasesuch Tenant's Changes and lien waivers with respect thereto and shall furnish Landlord with copies thereof, all alterationstogether with the "as-built" plans and specifications for such Tenant's Changes.
9.4. Any mechanic's lien filed against the Premises or the Land for work claimed to have been done for or materials claimed to have been furnished to Tenant shall be discharged by Tenant at its expense within thirty (30) days after Tenant receives notice of such filing, improvements by payment, filing of the bond required by law or additions constructed otherwise, and permitted under this Section 11.5 shallTenant shall provide satisfactory proof of such discharge to Landlord. at LANDLORDIn default thereof, Landlord may discharge any such mechanic's electionlien, either become property of LANDLORD by bond or be removed on payment, or before the Expiration Date by TENANT otherwise, and the Space restored cost thereof shall be paid by Tenant to the same condition Landlord upon demand as existed prior to TENANT's alterations which restoration obligation shall survive the expiration or earlier termination of this LeaseAdditional Rent. LANDLORD's reversionary interest to any and all such alterations, improvements or additions shall at all times be prior and superior to any interest of any lender of TENANT, or of any other entity claiming any purchase money lien or other interest therein.Notice is hereby given that Landlord
Appears in 1 contract
Sources: Lease Agreement (Sports Club Co Inc)
ALTERATIONS AND INSTALLATIONS. TENANT 9.1. Tenant shall not make commence any alterations, improvements or additions Alteration without Landlord’s prior written consent. Any portion of any kind Alteration or nature other work affecting the roof of the Building shall be performed by Aetna Roofing or other roofing contractor selected by Landlord; provided, however, that Tenant shall have no liability or responsibility for any work performed by Aetna Roofing or such other roofing contractor selected by Landlord.
9.2. Landlord will not unreasonably withhold nor delay its consent to an Alteration except, however, to any Alteration which in Landlord’s reasonable opinion will: alter or adversely affect any portion of the structure, facade, roof, or foundation of the Building or adversely affect the building systems; detract from the use or character of the Property; require amendment of any certificate of occupancy for the Property; or materially and adversely interfere with the use or occupancy of any other tenant of the Property. Landlord may reasonably impose, as a condition to the granting of its consent to any Alteration (including any made pursuant to paragraph 6.2), with respect to which Landlord may withhold its consent under this Section 9.2, that Tenant remove such Alteration at the end of the Term and Restore the Premises to its condition immediately prior to the making of such Alteration, as required pursuant to Section 10.2. Landlord may elect by notice to Tenant delivered at any time prior to the Expiration Date, to waive Tenant’s obligation to remove such Alteration and Restore the Premises, as aforesaid and to require that such Alteration remain a part of the Space without the prior written consent of LANDLORDPremises demised hereunder.
9.3. which consent Tenant shall be in LANDLORD's sole discretion. LANDLORD may require that any such improvements or additions be performed by LANDLORD at TENANT's expense. All alterations, improvements and additions to the Space shall be made in accordance with cause all plans and specifications for a proposed Alteration to be prepared at Tenant’s expense (by TENANT a licensed architect or engineer if required as a condition to the procuring of any permit or other approval required by applicable Legal Requirements and approved otherwise by LANDLORD which a competent designer or draftsperson) and shall submit the same to Landlord for Landlord’s written approval and, if required under the Declaration for the approval of the Development Committee; provided, however, that Landlord’s or said Committee’s approval (if given) shall not imply that the Alteration is properly designed or complies with Legal Requirements.
9.4. With respect to every Alteration: Tenant shall procure or cause to be procured all permits, approvals, consents, licenses required by applicable Legal Requirements; Tenant shall undertake and complete all work in compliance connection with all applicable building codes, governmental requirements, as well as all approvals the Alteration expeditiously and requirements of MDAD, the Master Lease in a good and Sub-Lease. Approval by LANDLORD of workmanlike manner; each Alteration when completed will conform to the plans and specifications approved by Landlord; Tenant shall provide to Landlord “as built” plans showing any Alterations as actually constructed by Tenant; Tenant shall employ only contractors approved by Landlord in writing (such approval not constitute to be unreasonably withheld, delayed or conditioned) and any contractor employed by Tenant (and all subcontractors) shall agree to use only such labor as will not result in, or threaten to result in, jurisdictional disputes, work stoppages, picketing, boycotts or strikes or which shall cause labor strife with other workers employed at the assumption Property or at the Business Center; Tenant shall carry (and will cause its contractors and sub-contractors to carry) all Alterations Insurance coverages described in Exhibit C hereto; Tenant shall reimburse Landlord for the reasonable cost of review by architects and/or engineers, field inspection, coordination, and other reasonable out-of-pocket costs of Landlord with respect to such Alteration, not to exceed $2,000 per Alteration.
9.5. No Lien for any liability labor, materials, or other services or things furnished to Tenant shall attach to Landlord’s estate or interest in the Property and no consent by Landlord to any Alteration shall be construed as a consent on the part of LANDLORD the Landlord to subject the Premises or the Property to any liability or obligation under the New Jersey Construction Lien Law. Tenant agrees to discharge (or bond over and release of record), at Tenant’s expense every Lien filed against the Premises and/or the Property for their compliance work claimed to have been done for or conformity with applicable building codesmaterials claimed to have been furnished to Tenant, governmental requirements, the requirements ofMDAD and the requirements of this Lease, the Master Lease, the Sub-Lease or for their accuracywithin thirty (30) days after written notice from Landlord.
9.6. Any and all alterations, improvements and additions Notwithstanding anything to the Space approved by LANDLORD contrary contained herein, Tenant shall be done in a good workmanlike manner using first-quality materials. TENANT shall require its contractor and subcontractors to furnish LANDLORD Certificates of Insurance evidencing insurance coverages with at least five million dollars ($5,000,000) in liability insurance together with such other insurance as may not be required in compliance with Article 12 belowto obtain Landlord’s consent, to submit plans and specifications or to obtain Landlord’s approval of plans and specifications for (x) the making or installation of any Decorations or (y) the addition or relocation of convenience electrical outlets, or telephone or computer jacks.
9.7. Notwithstanding any other provision anything to the contrary contained herein, Landlord acknowledges and agrees that Tenant may, during the Term, opt to convert a portion of the Premises into laboratory space (the “Laboratory Alteration”), which would include penetration of the roof of the Building for standard laboratory/pharmaceutical hood(s), and Landlord shall not unreasonably withhold, condition or delay its consent to the Laboratory Alteration. The performance of the Laboratory Alteration shall conform to all requirements for Alterations set forth in this Lease, following and during construction, TENANT shall be responsible for all maintenance and repair of alterations, improvements or additions constructed and permitted under this Section 11.5. At the time of termination of this Lease, all alterations, improvements or additions constructed and permitted under this Section 11.5 shall. at LANDLORD's election, either become property of LANDLORD or be removed on or before the Expiration Date by TENANT and the Space restored to the same condition as existed prior to TENANT's alterations which restoration obligation shall survive the expiration or earlier termination of this Lease. LANDLORD's reversionary interest to any and all such alterations, improvements or additions shall at all times be prior and superior to any interest of any lender of TENANT, or of any other entity claiming any purchase money lien or other interest thereinArticle 9.
Appears in 1 contract
Sources: Lease Agreement (Antares Pharma Inc)
ALTERATIONS AND INSTALLATIONS. TENANT 6.01 Tenant shall not make any no alterations, installations, additions or improvements in or additions of any kind or nature to any part of the Space demised premises without the Landlord's prior written consent of LANDLORDand then only by contractors or mechanics first approved by Landlord. which consent All such work, alterations, installations, additions and improvements shall be in LANDLORDdone at Tenant's sole discretionexpense and at such times and in such manner as Landlord may from time to time reasonably designate. LANDLORD may Upon completion of such work, Tenant shall obtain and deliver to Landlord written, unconditional waivers of mechanic's or other liens on the real property in which the demised premises are located, signed by all architects, engineers, contractors, mechanics and designers to become involved in such work. In connection with any alterations costing in excess of $100,000 (excluding Tenant's Work and Tenant's initial build-out of the Added Space, as hereinafter defined, provided Tenant shall use bondable contractors and subcontractors in connection with the performance of same), Tenant shall also provide at Landlord's request such financial security as Landlord shall require that any such improvements or additions be to guarantee completion of work performed by LANDLORD at TENANTTenant pursuant to this Article 6 and payment of all contractors and suppliers utilized in connection therewith. Any installations, materials and work which may be undertaken by or for the account of Tenant to prepare, equip, decorate and furnish the demised premises for Tenant's expense. All alterations, improvements occupancy and additions to any future work in the Space demised premises shall be made effected solely in accordance with plans and specifications prepared first approved in writing by TENANT Landlord. Tenant shall reimburse Landlord promptly upon demand for any reasonable out-of-pocket costs and expenses actually incurred by Landlord in connection with Landlord's review of such Tenant's plans and specifications. Landlord will not unreasonably withhold or delay its consent to requests for nonstructural alterations, additions and improvements provided they will not affect the outside of the Building or any area outside the demised premises (other than mechanical systems) or adversely affect its structure, electrical, HVAC, plumbing or mechanical systems. Any such approved by LANDLORD which alterations and improvements shall be performed in compliance accordance with all applicable building codes, governmental requirements, as well as all approvals and requirements of MDAD, the Master Lease and Sub-Lease. Approval by LANDLORD of the plans and specifications shall not constitute the assumption of any liability on the part of LANDLORD for their compliance or conformity with applicable building codes, governmental requirements, the requirements ofMDAD foregoing and the requirements following provisions of this Lease, the Master Lease, the Sub-Lease or for their accuracy. Any and all alterations, improvements and additions to the Space approved by LANDLORD Article 6:
(i) All work shall be done in a good and workmanlike manner using first-quality materials. TENANT manner.
(ii) In the event Tenant shall require its employ any contractor to do in the demised premises any work permitted by this Lease, such contractor and subcontractors any subcontractor shall agree to furnish LANDLORD Certificates of Insurance evidencing insurance coverages employ only such labor as will not result in jurisdictional disputes or strikes or result in causing disharmony with other workers employed at least five million dollars the Building.
($5,000,000iii) in liability insurance together with All such other insurance as may alterations shall be required effected in compliance with all applicable laws, ordinances, rules and regulations of governmental bodies having or asserting jurisdiction in the demised premises and in accordance with Landlord's Rules and Regulations with respect to alterations, a copy of which is annexed hereto as Exhibit D and made a part hereof.
(iv) Tenant shall keep the Building and the demised premises free and clear of all liens for any work or material claimed to have been furnished to Tenant or to the demised premises on Tenant's behalf, and all work to be performed by Tenant shall be done in a manner which will not unreasonably interfere with or disturb other tenants or occupants of the Building.
(v) During the progress of the work to be done by Tenant, said work shall be subject to inspection by representatives of Landlord who shall be permitted access to the demised premises and the opportunity to inspect, at all reasonable times, but this provision shall not in any way whatsoever create any obligation on Landlord to conduct such an inspection. In conducting any such inspection, Landlord shall use reasonable efforts to minimize any interference with Tenant's construction, without any obligation, however, to conduct such inspections during non-business hours.
(vi) With respect to alteration or improvement work, other than Tenant's Work and Tenant's initial build-out of the Added Space, costing more than Ten Thousand Dollars ($10,000), Tenant agrees to pay to Landlord's managing agent, as additional rent, promptly upon being billed therefor, a sum equal to ten percent (10%) of the cost of such work or alteration and with respect to Tenant's Work and Tenant's initial build-out of the Added Space, a sum equal to three percent (3%) of the cost thereof, for Landlord's indirect costs, field supervision and coordination in connection with such work.
(vii) Prior to commencement of any work, Tenant shall furnish to Landlord certificates evidencing the existence of:
(1) workmen's compensation insurance covering all persons employed for such work; and
(2) reasonable comprehensive general liability and property damage insurance naming Landlord, its designees and Tenant as insureds, with coverage of at least Three Million Dollars ($3,000,000) single limit.
(viii) Before commencing any work costing in excess of $100,000 (excluding Tenant's Work and Tenant's initial build-out of the Added Space, provided Tenant shall use bondable contractors and subcontractors in connection with same) Tenant shall furnish to Landlord such bonds for payment and completion or such other security for completion thereof and payment therefor as Landlord shall reasonably require and in such form as is reasonably satisfactory to Landlord and in an amount which will be one hundred twenty percent (120%) of the cost of performing such work, as specified by Tenant's general contractor in its contract for the performance of such work.
(ix) Any work affecting any mechanical systems of the Building, including, without limitation, the electrical, plumbing and life safety systems, shall be performed at Tenant's expense by a contractor designated by Landlord, provided the charges of such contractors shall be commercially reasonable. Notice is hereby given that Landlord shall not be liable for any labor or materials furnished or to be furnished to Tenant upon credit, and that no mechanic's or other lien for any such labor or materials shall attach to or affect the reversion or other estate or interest of Landlord in and to the demised premises.
6.02 Any mechanic's lien, filed against the demised premises or the Building for work claimed to have been done for, or materials claimed to have been furnished to, Tenant shall be discharged by Tenant at its expense within thirty (30) days after such filing, by payment, filing of the bond required by law or otherwise.
6.03 All alterations, installations, additions and improvements made and installed by Landlord, including without limitation any work referred to in Article 12 below. Notwithstanding any other provision in 2 hereof shall be the property of Landlord and shall remain upon and be surrendered with the demised premises as a part thereof at the end of the term of this Lease, following and during construction, TENANT shall be responsible for all maintenance and repair of .
6.04 All alterations, installations, additions and improvements made and installed by Tenant, or additions constructed at Tenant's expense, upon or in the demised premises which are of a permanent nature and permitted under this Section 11.5. At which cannot be removed without damage to the time demised premises or Building shall become and be the property of termination Landlord, and shall remain upon and be surrendered with the demised premises as a part thereof at the end of the term of this Lease, all alterations, improvements or additions constructed except that Landlord shall have the right and permitted under privilege at any time up to six (6) months prior to the expiration of the term of this Lease to serve notice upon Tenant that any "Non-Standard Alterations" (as hereinafter defined in this Section 11.5 shall. at LANDLORD's election, either become property of LANDLORD or 7.05) shall be removed on and, in the event of service of such notice, Tenant will, at Tenant's own cost and expense, remove the same in accordance with such request, repair any damage to the demised premises caused by such removal and restore the demised premises to their original condition, ordinary wear and tear and casualty excepted; provided that Landlord shall have advised Tenant at the time it consented to any such Non-Standard Alteration that Landlord may require its removal at the end of the Term if Tenant shall have requested such advice when it requested Landlord's consent to such Alteration. For the purposes of this Article 6, "Non-Standard Alteration" shall mean the following non-standard Building improvements: auditoriums or before similar type special use areas, vaults, atriums, kitchen equipment and installations, internal stairways, slab reinforcements which reduce the Expiration Date by TENANT height of the finished ceiling from the floor (assuming a customary distance between the finished ceiling and the Space restored underside of the floor slab above) or impede the installation of duct work and other normal installations above the finished ceiling, and any other Alteration which is not suitable for normal office occupancy or which would be unusually difficult or costly to remove in comparison to the same condition as existed prior to TENANT's alterations which restoration obligation shall survive the expiration or earlier termination of this Lease. LANDLORD's reversionary interest to any and all such alterations, improvements or additions shall at all times be prior and superior to any interest of any lender of TENANT, or of any other entity claiming any purchase money lien or other interest thereinusual Alterations required for general office purposes.
Appears in 1 contract
Sources: Lease Agreement (THCG Inc)
ALTERATIONS AND INSTALLATIONS. TENANT 9.1 The Tenant shall not make any no alterations, installations, removals, additions or improvements in or additions of any kind or nature to any part of about the Space demised premises without the Landlord's prior written consent and in the event of LANDLORD. which such consent the Tenant shall have such work performed by competent contractors and sub-contractors to whom the Landlord shall have approved, such approval not to be in LANDLORD's sole discretion. LANDLORD unreasonably withheld (except that the Landlord may require that the Landlord's contractors and sub-contractors be engaged for any plumbing, mechanical or electrical work) at Tenant's sole expense. Any out-of-pocket expense incurred by the Landlord in connection with any such improvements or additions request for approval shall be performed paid by LANDLORD at TENANT's expense. the Tenant to the Landlord promptly upon receipt of invoices therefor from the Landlord.
9.2 All alterations, improvements additions, partitions and additions built in cabinet-work and fixtures, and wall to wall carpeting and fixtures whether placed there by the Space Tenant or the Landlord, shall be made in accordance with plans and specifications prepared by TENANT and approved by LANDLORD which shall be in compliance with all applicable building codes, governmental requirements, as well as all approvals and requirements of MDAD, the Master Lease and Sub-Lease. Approval by LANDLORD of the plans and specifications shall not constitute the assumption of any liability on the part of LANDLORD for their compliance or conformity with applicable building codes, governmental requirements, the requirements ofMDAD and the requirements of this Lease, the Master Lease, the Sub-Lease or for their accuracy. Any and all alterations, improvements and additions to the Space approved by LANDLORD shall be done in a good workmanlike manner using first-quality materials. TENANT shall require its contractor and subcontractors to furnish LANDLORD Certificates of Insurance evidencing insurance coverages with at least five million dollars ($5,000,000) in liability insurance together with such other insurance as may be required in compliance with Article 12 below. Notwithstanding any other provision in this Lease, following and during construction, TENANT shall be responsible for all maintenance and repair of alterations, improvements or additions constructed and permitted under this Section 11.5. At the time of termination of this Lease, all alterations, improvements or additions constructed and permitted under this Section 11.5 shall. at LANDLORD's election, either become property of LANDLORD or be removed on or before the Expiration Date by TENANT and the Space restored to the same condition as existed prior to TENANT's alterations which restoration obligation shall survive the expiration or earlier termination of this Leaselease become the Landlord's property without compensation therefor to the Tenant and shall not be removed from the demised premises by the Tenant at any time. LANDLORD's reversionary interest to any All articles or personal property and all furniture, business and trade fixtures, and machinery and equipment, owned or installed by the Tenant at the expense of the Tenant in the demised premises shall remain the property of the Tenant and may be removed by the Tenant at its expanse. Providing that the Tenant shall repair any damage to the demised premises or the building in which the demised premises are located caused by the aforesaid removal. If the Tenant does not remove its property forthwith after written demand by the Landlord, such alterationsproperty shall if the Landlord elects be deemed to become the Landlord's property or the Landlord may remove the same at the expense of the Tenant the cost of such removal to be paid by the Tenant forthwith to the Landlord on written demand, improvements the Landlord not to be responsible for any loss or additions shall at all times be prior and superior damage to any interest such property because of any lender of TENANT, or of any other entity claiming any purchase money lien or other interest thereinsuch removal.
Appears in 1 contract
Sources: Lease Agreement (Powertech Inc /)