Alterations and Surrender. Tenant shall not make or allow to be made any alterations or physical additions in or to the Leased Premises without obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed with respect to proposed alterations and additions which (i) comply with all applicable laws, ordinances, rules and regulations, (ii) are compatible with the Building and its mechanical, electrical, HVAC and life safety systems, and do not excessively burden the capacity of such systems; (iii) will not interfere with the use and occupancy of any other portion of the Building; (iv) will not affect the structural integrity of the Building; (v) will not require any unusual expense to re-adapt the Leased Premises, or otherwise diminish the value of the Leased Premises, for any general purpose office use; and (vi) satisfy the standards and comply with the procedures and requirements required for Tenant Improvements, as set forth in Exhibit B. (Notwithstanding the foregoing, Tenant shall not be required to obtain Landlord’s prior approval of plans for cosmetic alterations in the Leased Premises (such as painting, carpeting, or installations of built-in workstations, furniture, cabinets, or decorations), provided that such alterations (i) comply with the preceding sentence and do not include or affect any mechanical, electrical, or plumbing work or life safety or other Building systems or any structural elements of the Building, (ii) the cost of such alterations does not exceed $10 per square foot of Net Rentable Area in the aggregate per project (or related series of projects) and (iii) such alterations shall otherwise be performed by Tenant, with reasonable prior notice to Landlord, in accordance with the terms and provisions of this Lease including, without limitation, this Section 4.07.) Specifically, but without limiting the generality of the foregoing, Landlord’s right of consent shall encompass plans and specifications for proposed alterations or additions, construction means and methods, the identity of any contractor or subcontractor to be employed on the work of alterations or additions, and the time for performance of such work. Tenant shall supply to Landlord any documents and information reasonably requested by Landlord in connection with its consent hereunder. Landlord’s approval of the plans, specifications and working drawings for Tenant’s alterations shall create no responsibility or liability on the part of Landlord for their completeness, design sufficiency, or compliance with all laws, rules and regulations of governmental agencies or authorities. All alterations and additions permitted hereunder shall be made and performed by Tenant without cost or expense to Landlord. Tenant shall take such steps as Landlord or its mortgagee may deem reasonably necessary to avoid the filing, perfection or enforcement of any lien for labor or materials against the Land or the Building by reason of work performed by or on behalf of Tenant, including without limitation the furnishing of such payment and performance bonds as Landlord may reasonably require (based on the scope of the work) for the particular work in question. All Tenant Improvements under Section 3.05, and all alterations, physical additions or improvements made to the Leased Premises by Tenant under this Section 4.07, shall become the property of Landlord upon the termination of this Lease and shall be surrendered to Landlord upon the termination of this Lease by lapse of time or otherwise; provided, however, that (a) this clause shall not apply to business equipment, exercise equipment, trade fixtures, or related installations or any other moveable equipment, furniture or personal property, all of which shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the Term, and (b) Tenant shall further remove (i) any private bathrooms, shower facilities, raised flooring, internal stairs, and telecommunications/data cabling (subject to the next sentence) at the expiration or earlier termination of this Lease and (ii) any other special installations, plumbing, fixtures or other additions or improvements that would require unusual expense to re-adapt the Leased Premises for general office purposes and are so specified by Landlord for removal (which items Landlord, if so requested by Tenant, shall specify at the time of Landlord’s approval of the construction documents for such work), all of which shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the Term. Tenant shall be responsible for leaving the Leased Premises clean, tenantable, and otherwise in good condition, reasonable wear and tear and damage by fire or other casualty excepted. Title to all alterations, physical additions or improvements and Tenant Improvements not removed by Tenant pursuant to this paragraph on or prior to the termination of the Term shall automatically be conveyed and transferred by Tenant to Landlord upon such expiration or termination, and shall be deemed abandoned by Tenant and shall thereupon become the property of Landlord. Tenant shall execute such documentation confirming and ratifying such conveyance and transfer as Landlord shall reasonably require. Tenant shall repair at its sole cost and expense all damage caused to the Leased Premises or the Building by removal of Tenant’s moveable equipment, or graphics, or furniture and such other alterations and additions as Tenant shall be allowed or required to remove from the Leased Premises by Landlord. If Tenant fails to perform any of its obligations under this paragraph prior to the expiration or earlier termination of the Term, then (without limiting any other remedies for such default) at Landlord’s election at any time thereafter Landlord may perform such work for Tenant’s account and at Tenant’s expense, and upon demand Tenant shall reimburse Landlord for all reasonable costs thereof (including the administrative fee set forth in Section 3.06) as an extra service hereunder. The obligations of Tenant under this paragraph shall survive any expiration or termination of this Lease.
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Samples: Lease (Rhythm Pharmaceuticals, Inc.), Lease (Rhythm Pharmaceuticals, Inc.)
Alterations and Surrender. Tenant shall not make or allow to be made any alterations or physical additions Tenant Alterations in or to the Leased Premises without obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed withheld with respect to proposed alterations and additions which (i) comply with all applicable laws, ordinances, rules and regulations, (ii) are compatible with the Building and its mechanical, electrical, HVAC and life safety systems, and do not excessively burden the capacity of such systems; (iii) will do not materially interfere with the use and occupancy of any other portion of the Building; and (iv) will do not affect the structural integrity of the Building; (v) will not require any unusual expense to re-adapt the Leased Premises, or otherwise diminish the value of the Leased Premises, for any general purpose office use; and (vi) satisfy the standards and comply with the procedures and requirements required for Tenant Improvements, as set forth in Exhibit B. (Notwithstanding the foregoing, Tenant shall not be required to obtain Landlord’s prior approval of plans for cosmetic alterations in the Leased Premises (such as painting, carpeting, or installations of built-in workstations, furniture, cabinets, or decorations), provided that such alterations (i) comply with the preceding sentence and do not include or affect any mechanical, electrical, or plumbing work or life safety or other Building systems or any structural elements of the Building, (ii) the cost of such alterations does not exceed $10 per square foot of Net Rentable Area in the aggregate per project (or related series of projects) and (iii) such alterations shall otherwise be performed by Tenant, with reasonable prior notice to Landlord, in accordance with the terms and provisions of this Lease including, without limitation, this Section 4.07.) Specifically, but without limiting the generality of the foregoing, Landlord’s 's right of consent shall encompass plans and specifications for proposed alterations or additions, construction means and methods, the identity of any contractor or subcontractor to be employed on the work of alterations or additions, and the time for performance of such work. Tenant shall supply to Landlord any documents and information reasonably requested by Landlord in connection with its consent hereunder. Notwithstanding the foregoing, nonstructural Tenant Alterations which do not impact the Building's mechanical, electrical, HVAC and life safety systems and which otherwise satisfy the criteria set forth in (i) through (iv) above, and the other provisions hereof, shall not require Landlord’s approval 's consent if the cost thereof does not exceed twenty-five thousand dollars ($25,000), provided, however, that Tenant shall nonetheless provide written notice of the plansproposed alteration, together with plans and specifications therefor (or such other information in lieu of plans and working drawings for Tenant’s alterations shall create no responsibility specifications as Landlord may reasonably require) at least ten (10) Business Days before undertaking any such work. Notwithstanding that the same may constitute Building Common Areas, Tenant may paint or liability on decorate that portion of the part Building's fire stairwells located between floors constituting the Leased Premises, subject to the prior written consent of Landlord for their completeness, design sufficiency, or compliance with all laws, rules and regulations of governmental agencies or authorities(which shall not be unreasonably withheld). All alterations and additions Tenant Alterations permitted hereunder shall be made and performed by Tenant without cost or expense to Landlord, and the work necessary therefor shall be handled in such a manner as to maintain harmonious labor relations and not interfere with or delay the work of any contractor employed by Landlord; provided, however, that Tenant and Landlord shall each use reasonable efforts to avoid any interference between their respective contractors. Tenant's contractors, subcontractors and labor shall be subject to reasonable rules and regulations of the site. If any contractors, subcontractors or labor employed by or on behalf of Tenant in connection with such Tenant Alterations cause any dispute, strike or unrest with or amongst other contractors, subcontractors or labor who may then or thereafter be engaged to work at the Project, Tenant shall, within two (2) Business Days after written notice to do so by Landlord, either eliminate the problem or remove the person(s) causing the problem, and after said two (2) Business Day period, Landlord shall have the right to deny access to the Project to such person(s). Tenant shall reimburse Landlord upon demand for any and all costs or expenses incurred by Landlord as a result of such dispute. Tenant shall take such steps as Landlord or its mortgagee may deem reasonably be necessary to avoid the filing, perfection or enforcement of any lien for labor or materials against the Land or the Building by reason of work performed by or on behalf of Tenant, including without limitation and shall cause any such lien to be discharged of record by payment, deposit, order of court of competent jurisdiction, bonding or other manner reasonably acceptable to Landlord as soon as is reasonably possible but in no event more than ten (10) Business Days after the furnishing first to occur of such payment and performance bonds as Landlord may reasonably require (based i) the date on the scope which Tenant receives actual notice of the workfiling thereof, or (ii) for the particular work date on which Landlord gives notice to Tenant of the filing thereof (except where such lien is filed as a result of the failure of Tenant to pay any contractor, subcontractor or labor any amount owing to such contractor, subcontractor or labor when due, or other fault of Tenant, in questionwhich case Tenant shall cause such lien to be discharged as soon as is reasonably possible). All Landlord agrees to make reasonable efforts to cooperate with Tenant Improvements under Section 3.05, and all alterations, physical additions or improvements as reasonably necessary to discharge such lien. Such Tenant Alterations when made to the Leased Premises by Premises, together with all Initial Tenant under this Section 4.07Improvements, shall become the property of Landlord upon the termination of this Lease and shall be surrendered to Landlord upon the termination of this Lease by lapse of time or otherwise; provided, however, that (a) this clause shall not apply to business equipment, exercise equipment, trade fixturesTenant's Personal Property and shall not apply to any Initial Tenant Improvements or Tenant Alterations specified by Tenant in a notice given to Landlord and approved by Landlord in writing prior to effecting the same, or related installations or any other moveable equipmentwhich as a condition of approval Landlord specifies that Tenant remove, furniture or personal property, and all of which Tenant's Personal Property together with any Initial Tenant Improvements or Tenant Alterations so specified by Landlord or Tenant shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the Term, and (b) Tenant shall further remove (i) any private bathrooms, shower facilities, raised flooring, internal stairs, and telecommunications/data cabling (subject to the next sentence) at the expiration or earlier termination of this Lease and (ii) any other special installations, plumbing, fixtures or other additions or improvements that would require unusual expense to re-adapt the Leased Premises for general office purposes and are so specified by Landlord for removal (which items Landlord, if so requested by Tenant, shall specify at the time of Landlord’s approval of the construction documents for such work), all of which shall be removed by Tenant, at Tenant’s 's expense, prior to the expiration of the Term. At the expiration or termination of this Lease, Tenant shall be responsible for leaving peaceably yield up the Leased Premises cleanclean and neat, tenantablesubject to and in accordance with the requirements of Section 4.04 (and the obligations of Tenant provided for in this sentence, and otherwise in good condition, reasonable wear and tear and damage by fire the balance of this paragraph shall survive any expiration or other casualty exceptedtermination of this Lease). Title to all alterations, physical additions or improvements Tenant Alterations and Initial Tenant Improvements not removed by Tenant pursuant to this paragraph the immediately preceding sentence on or prior to the termination of the Term shall automatically be conveyed and transferred by Tenant to Landlord upon such expiration or termination, and shall be deemed abandoned by Tenant and shall thereupon become the property of Landlord. Tenant shall execute such documentation confirming and ratifying such conveyance and transfer as Landlord shall reasonably require. Tenant shall repair at its sole cost and expense expense, in a manner reasonably acceptable to Landlord, all damage caused to the Leased Premises or the Building by removal of Tenant’s moveable equipment, or graphics, or furniture 's Personal Property and such other alterations and additions Initial Tenant Improvements or Tenant Alterations as Tenant shall remove or be allowed or required to remove as a condition of approval from the Leased Premises by Landlord. If Tenant fails to perform any of its obligations under this paragraph prior to the expiration or earlier termination of the Term, then (without limiting any other remedies for such default) at Landlord’s election at any time thereafter Landlord may perform such work for Tenant’s account and at Tenant’s expense, and upon demand Tenant shall reimburse Landlord for all reasonable costs thereof (including the administrative fee set forth in Section 3.06) as an extra service hereunder. The obligations of Tenant under this paragraph shall survive any expiration or termination of this LeasePremises.
Appears in 1 contract
Alterations and Surrender. Tenant shall not make or allow to be made any alterations or physical additions in or to the Leased Premises without obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned conditioned, or delayed with respect to proposed alterations and additions which (i) comply with all applicable laws, ordinances, rules and regulations, (ii) are compatible with the Building and its mechanical, electrical, HVAC and life safety systems, and do not excessively burden the capacity of such systems; (iii) will not interfere with the use and occupancy of any other portion of the Building; (iv) will not affect the structural integrity of the Building; and (v) will not require any unusual expense to re-adapt the Leased Premises, or otherwise diminish the value of the Leased Premises, for any general purpose office use; and (vi) satisfy the standards and comply with the procedures and requirements required for Tenant Improvements, as set forth in Exhibit B. (Notwithstanding the foregoing, Tenant shall not be required to obtain Landlord’s prior approval of plans for cosmetic alterations or standard equipment installations in the Leased Premises (such as painting, carpeting, or installations of built-in workstations, furniture, cabinets, or decorations), provided that such alterations (i) comply with the preceding sentence and do not include or affect any mechanical, electrical, or plumbing work or life safety or other Building systems or any structural elements of the Building, (ii) the cost of such alterations does not exceed $10 per square foot of Net Rentable Area 25,000 in the aggregate per project (or related series of projects) and (iii) such alterations shall otherwise be performed by Tenant, with reasonable prior notice to Landlord, in accordance with the terms and provisions of this Lease including, without limitation, this Section 4.07.) Specifically, but without limiting the generality of the foregoing, Landlord’s right of consent shall encompass plans and specifications for proposed alterations or additions, construction means and methods, the identity of any contractor or subcontractor to be employed on the work of alterations or additions, and the time for performance of such work. Tenant shall supply to Landlord any documents and information reasonably requested by Landlord in connection with its consent hereunder. (Any comments or disapproval by Landlord shall provide reasonable detail as to the objection.) Landlord’s approval of the plans, specifications and working drawings for Tenant’s alterations shall create no responsibility or liability on the part of Landlord for their completeness, design sufficiency, or compliance with all laws, rules and regulations of governmental agencies or authorities. All alterations and additions permitted hereunder shall be made and performed by Tenant without cost or expense to Landlord. Tenant shall take such steps as Landlord or its mortgagee may deem reasonably necessary to avoid the filing, perfection or enforcement of any lien for labor or materials against the Land or the Building by reason of work performed by or on behalf of Tenant, including without limitation the furnishing of such payment and performance bonds as Landlord may reasonably require (based on the scope of the work) for the particular work in question. All Tenant Improvements under Section 3.05, and all alterations, physical additions or improvements made to the Leased Premises by Tenant under this Section 4.07, shall become the property of Landlord upon the termination of this Lease and shall be surrendered to Landlord upon the termination of this Lease by lapse of time or otherwise; provided, however, that (a) this clause shall not apply to business equipment, exercise equipment, trade fixtures, or related installations or any other moveable equipment, furniture or personal property, all of which and shall be removed not apply to any Tenant Improvements, alterations, additions or improvements specified by Tenant, at Tenant’s expense, Tenant to Landlord and approved by Landlord in writing prior to the expiration of the Term, and (b) Tenant shall further remove (i) their installation or to any private bathrooms, shower facilities, raised flooring, internal stairs, and telecommunications/data cabling (subject to the next sentence) at the expiration or earlier termination of this Lease and (ii) any other special installations, plumbing, fixtures or other additions or improvements that would require unusual expense to re-adapt the Leased Premises for general office purposes and are so specified by Landlord for removal (which items Landlord, if so requested by Tenant, shall specify at the time of Landlord’s approval of the construction documents for such work), all of which shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the TermTerm (or, if the parties so agree in lieu of such removal, Tenant shall pay to Landlord an amount equal to the estimated cost of removing such items). Landlord specifically reserves the right to require Tenant to remove at the end of the Term any private bath and shower facilities in the Leased Premises and, at Tenant’s request at the time of approval of the plans therefor, shall indicate which elements of such improvements are to be removed. Tenant shall be responsible for leaving the Leased Premises clean, tenantable, clean and otherwise tenantable (and the obligations of Tenant provided for in good condition, reasonable wear and tear and damage by fire this paragraph shall survive any expiration or other casualty exceptedtermination of this Lease). Title to all alterations, physical additions or improvements and Tenant Improvements not removed by Tenant pursuant to this paragraph on or prior to the termination of the Term shall automatically be conveyed and transferred by Tenant to Landlord upon such expiration or termination, and shall be deemed abandoned by Tenant and shall thereupon become the property of Landlord. Tenant shall execute such documentation confirming and ratifying such conveyance and transfer as Landlord shall reasonably require. Tenant shall repair at its sole cost and expense all damage caused to the Leased Premises or the Building by removal of Tenant’s moveable equipment, or graphics, or furniture and such other alterations and additions as Tenant shall be allowed or required to remove from the Leased Premises by Landlord. If Tenant fails to perform any of its obligations under this paragraph prior to the expiration or earlier termination of the Term, then (without limiting any other remedies for such default) at Landlord’s election at any time thereafter Landlord may perform such work for Tenant’s account and at Tenant’s expense, and upon demand Tenant shall reimburse Landlord for all reasonable costs thereof (including the administrative fee set forth in Section 3.06) as an extra service hereunder. The obligations of Tenant under this paragraph shall survive any expiration or termination of this Lease.
Appears in 1 contract
Samples: NewStar Financial, Inc.
Alterations and Surrender. Tenant shall not make or allow to be made any alterations or physical additions in or to the Leased Premises without obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed withheld with respect to proposed alterations and additions which that (i) comply with all applicable laws, ordinances, rules and regulations, (ii) are compatible with the Building and its mechanical, electrical, HVAC and life safety systems, and do not excessively burden the capacity of such systems; (iii) will not interfere with the use and occupancy of any other portion of the Building; (iv) will not affect the structural integrity of the Building; and (v) will not require any unusual expense to re-adapt the Leased Premises, or otherwise diminish the value of the Leased Premises, for any general purpose office use; and (vi) satisfy the standards and comply with the procedures and requirements required for Tenant Improvements, as set forth in Exhibit B. (Notwithstanding the foregoing, Tenant shall not be required to obtain Landlord’s prior approval of plans for cosmetic alterations in the Leased Premises (such as painting, carpeting, or installations of built-in workstations, furniture, cabinets, or decorations), provided that such alterations (i) comply with the preceding sentence and do not include or affect any mechanical, electrical, or plumbing work or life safety or other Building systems or any structural elements of the Building, (ii) the cost of such alterations does not exceed $10 per square foot of Net Rentable Area in the aggregate per project (or related series of projects) and (iii) such alterations shall otherwise be performed by Tenant, with reasonable prior notice to Landlord, in accordance with the terms and provisions of this Lease including, without limitation, this Section 4.07.) B attached hereto. Specifically, but without limiting the generality of the foregoing, Landlord’s right of consent shall encompass plans and specifications for proposed alterations or additions, construction means and methods, the identity of any contractor or subcontractor to be employed on the work of alterations or additions, and the time for performance of such work. Tenant shall supply to Landlord any documents and information reasonably requested by Landlord in connection with its consent hereunder. Notwithstanding the foregoing, any nonstructural alterations within the Leased Premises (including, without limitation, installations of cabling) that do not affect any mechanical, electrical, or other Building systems, do not cost more than $100,000 (as increased every five years after the Effective Date by the percentage increase in the Index for the preceding five-year period) in the aggregate for each project (including all related work), and do not adversely affect the value of the Leased Premises for general office uses shall not require Landlord’s approval prior approval, provided that Tenant shall give Landlord notice of the planscommencement of such work (including plans and specifications therefor, specifications as provided herein) at least ten (10) days in advance and working drawings for Tenant’s alterations shall create no responsibility or liability on the part work otherwise complies with the provisions of Landlord for their completeness, design sufficiency, or compliance with all laws, rules this Section 4.07 and regulations of governmental agencies or authoritiesthis Lease. All alterations and additions Tenant Improvements permitted hereunder shall be made and performed by Tenant without cost or expense to Landlord. Tenant shall take such steps as Landlord or its mortgagee may deem reasonably be necessary to avoid the filing, perfection or enforcement of any lien for labor or materials against the Land or the Building by reason of work performed by or on behalf of Tenant, including without limitation the furnishing of such payment and performance bonds as Landlord may reasonably require (based on the scope of the work) for the particular work in question. All Tenant Improvements (whether previously made under Section 3.05, and all alterations, physical additions the Existing Lease or improvements hereafter made to the Leased Premises by Tenant under this Section 4.07, Lease) shall become the property of Landlord upon the termination of this Lease and shall be surrendered to Landlord upon the termination of this Lease by lapse of time or otherwise; provided, however, that (a) this clause shall not apply (a) to business equipmentany Tenant Improvements specified for removal by Tenant to Landlord and approved by Landlord in writing (which approval shall not be unreasonably withheld) prior to the installation of such Tenant Improvements (whether made under the Existing Lease or this Lease) or (b) to Tenant’s Property (collectively, exercise equipmentthe “Removable Property”). All Removable Property and any Tenant Improvements made after the Effective Date that are not suitable for general office uses and are specified by Landlord, trade fixturesat the time of Landlord’s approval of the same, or related installations or any other moveable equipmentfor removal at the end of the Term, furniture or personal property, all of which shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the Term, and (b) ; provided that Tenant shall further not be required to remove (i) any private bathrooms, shower facilities, raised flooring, internal stairs, and telecommunications/data its cabling (subject to the next sentence) at the expiration or earlier termination of this Lease and (ii) any other special installations, plumbing, fixtures or other additions or improvements that would require unusual expense to re-adapt in the Leased Premises for general office purposes and are so specified by Landlord for removal (which items Landlord, if so requested by Tenant, shall specify at the time of Landlord’s approval of the construction documents for such work), all of which shall be removed by Tenant, at Tenant’s expense, prior to the expiration end of the Term. Tenant shall be responsible for leaving the Leased Premises clean, tenantable, clean and otherwise neat (and the obligations of Tenant provided for in good condition, reasonable wear and tear and damage by fire this paragraph shall survive any expiration or other casualty exceptedtermination of this Lease). Title to all alterations, physical additions or improvements and Tenant Improvements not removed by Tenant pursuant to this paragraph on or prior to the termination of the Term shall automatically be conveyed and transferred by Tenant to Landlord upon such expiration or termination, and shall be deemed abandoned by Tenant and shall thereupon become the property of Landlord. Tenant shall execute such documentation confirming and ratifying such conveyance and transfer as Landlord shall reasonably require. Any Tenant’s Property that Tenant fails to remove at the end of the Term shall be deemed abandoned by Tenant, and Landlord may, at Tenant’s expense, remove, store, and/or dispose of any or all of such Tenant’s Property. Tenant shall repair at its sole cost and expense all damage caused to the Leased Premises or the Building by removal of Tenant’s moveable equipment, or graphics, or furniture and such other alterations and additions ’ s Removable Property as Tenant shall be allowed or required to remove from the Leased Premises by Landlord. If Tenant fails to perform any of its obligations under this paragraph prior to the expiration or earlier termination of the Term, then (without limiting any other remedies for such default) at Landlord’s election at any time thereafter Landlord may perform such work for Tenant’s account and at Tenant’s expense, and upon demand Tenant shall reimburse Landlord for all reasonable costs thereof (including the administrative fee as set forth in Section 3.06) as an extra service hereunder. The obligations of Tenant under this paragraph shall survive any expiration or termination of this Leaseabove.
Appears in 1 contract
Samples: Subtenant Improvements Agreement (NewStar Financial, Inc.)
Alterations and Surrender. Tenant shall not make or allow to be made any alterations or physical additions Tenant Alterations in or to the Leased Premises without obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned withheld or delayed with respect to proposed alterations and additions which (i) comply with all applicable laws, ordinances, rules and regulations, (ii) are compatible with the Building and its mechanical, electrical, HVAC and life safety systems, and do not excessively burden the capacity of such systems; (iii) will do not materially interfere with the use and occupancy of any other portion of the Building; and (iv) will do not affect the structural integrity of the Building; (v) will not require any unusual expense to re-adapt the Leased Premises, or otherwise diminish the value of the Leased Premises, for any general purpose office use; and (vi) satisfy the standards and comply with the procedures and requirements required for Tenant Improvements, as set forth in Exhibit B. (Notwithstanding the foregoing, Tenant shall not be required to obtain Landlord’s prior approval of plans for cosmetic alterations in the Leased Premises (such as painting, carpeting, or installations of built-in workstations, furniture, cabinets, or decorations), provided that such alterations (i) comply with the preceding sentence and do not include or affect any mechanical, electrical, or plumbing work or life safety or other Building systems or any structural elements of the Building, (ii) the cost of such alterations does not exceed $10 per square foot of Net Rentable Area in the aggregate per project (or related series of projects) and (iii) such alterations shall otherwise be performed by Tenant, with reasonable prior notice to Landlord, in accordance with the terms and provisions of this Lease including, without limitation, this Section 4.07.) . Specifically, but without limiting the generality of the foregoing, Landlord’s right of consent shall encompass plans and specifications for proposed alterations or additions, construction means and methods, the identity of any contractor or subcontractor to be employed on the work of alterations or additions, and the time for performance of such work. Tenant shall supply to Landlord any documents and information reasonably requested by Landlord in connection with its consent hereunder. Landlord’s approval of the plans, specifications and working drawings for Tenant’s alterations shall create no responsibility or liability on the part of Landlord for their completeness, design sufficiency, or compliance with all laws, rules and regulations of governmental agencies or authorities. Notwithstanding the foregoing, nonstructural Tenant Alterations which do not impact the Building’s, mechanical, electrical, HVAC and life safety systems and which otherwise satisfy the criteria set forth in (i) through (iv) above, and the other provisions hereof, shall not require Landlord’s consent if the cost thereof does not exceed two hundred thousand dollars ($200,000) in the aggregate, provided, however, that Tenant shall nonetheless provide written notice of the proposed alteration together with plans and specifications therefor (or such other information in lieu of plans and specifications as Landlord may reasonably require) at least ten (10) Business Days before undertaking any such work. Notwithstanding that the same may constitute Building Common Areas, if Landlord hereafter generally allows tenants in the Building to use fire stairwells for routine access between different floors of their premises, Tenant may paint or decorate that portion of the Building’s fire stairwells located between floors constituting the Leased Premises, subject to the prior written consent of Landlord (which shall not be unreasonably withheld). Landlord agrees to take reasonable steps to cooperate with Tenant with respect to the implementation of any security system installed by Tenant for the Leased Premises, subject to the provisions of this Section 4.06. All alterations and additions Tenant Alterations permitted hereunder shall be made and performed by Tenant without cost or expense to Landlord, and the work necessary therefor shall be handled in such a manner as to maintain harmonious labor relations and not interfere with or delay the work of any contractor employed by Landlord; provided, however, that Tenant and Landlord shall each use reasonable efforts to avoid any interference between their respective contractors. Tenant’s contractors, subcontractors and labor shall be subject to reasonable rules and regulations of the site. If any contractors, subcontractors or labor employed by or on behalf of Tenant in connection with such Tenant Alterations cause any dispute, strike or unrest with or amongst other contractors, subcontractors or labor who may then or thereafter be engaged to work at the Project, Tenant shall, within two (2) Business Days after written notice to do so by Landlord, either eliminate the problem or remove the person(s) causing the problem, and after said-two (2) Business Day period, Landlord shall have the right to deny access to the Project to such person(s). Tenant shall reimburse Landlord upon demand for any and all costs or expenses incurred by Landlord as a result of such dispute. Tenant shall take such steps as Landlord or its mortgagee may deem reasonably be necessary to avoid the filing, perfection or enforcement of any lien for labor or materials against .against the Land or the Building by reason of work performed by or on behalf of Tenant, including without limitation and shall cause any such lien to be discharged of record by payment, deposit, order of court of competent jurisdiction, bonding or other manner reasonably acceptable to Landlord as soon as is reasonably possible, but in no event more than ten (10) Business Days after the furnishing first to occur of such payment and performance bonds as Landlord may reasonably require (based i)-the date on the scope which Tenant receives actual notice of the workfiling thereof, or (ii) for the particular work date on which Landlord gives notice to Tenant of the filing thereof (except where such lien is filed as a result of the failure of Tenant to pay any contractor, subcontractor, or labor any amount owing to such contractor, subcontractor or labor when due, or other fault of Tenant, in questionwhich case Tenant shall cause such lien to be discharged as soon as is reasonably possible). All Landlord agrees to make reasonable efforts to cooperate with Tenant Improvements under Section 3.05, and all alterations, physical additions or improvements as reasonably necessary to discharge such lien. Such Tenant Alterations when made to the Leased Premises by Tenant under this Section 4.07, shall become the property of Landlord upon the termination of this Lease and shall be surrendered to Landlord upon the termination of this Lease by lapse of time or otherwise; provided, however, that (a) this clause shall not apply to business equipment, exercise equipment, trade fixturesTenant’s Personal Property and shall not apply to any Tenant Alterations specified by Tenant in a notice given to Landlord and approved by Landlord in writing prior to effecting the same, or related installations or any other moveable equipmentwhich as a condition of approval Landlord specifies that Tenant remove, furniture or personal property, and all of which shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the Term, and (b) Personal Property together with any Tenant shall further remove (i) any private bathrooms, shower facilities, raised flooring, internal stairs, and telecommunications/data cabling (subject to the next sentence) at the expiration or earlier termination of this Lease and (ii) any other special installations, plumbing, fixtures or other additions or improvements that would require unusual expense to re-adapt the Leased Premises for general office purposes and are Alterations so specified by Landlord for removal (which items Landlord, if so requested by Tenant, shall specify at the time of Landlord’s approval of the construction documents for such work), all of which or Tenant shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the Term. At the expiration or termination of this Lease, Tenant shall be responsible for leaving peaceably yield up the Leased Premises cleanclean and neat, tenantablesubject to and in accordance with the requirements of Section 4.03 and 4.04 (and the obligations of Tenant provided for in this sentence, and otherwise in good condition, reasonable wear and tear and damage by fire the balance of this paragraph shall survive any expiration or other casualty exceptedtermination of this Lease). Title to all alterations, physical additions or improvements and Tenant Improvements Alterations not removed by Tenant pursuant to this paragraph the immediately preceding sentence on or prior to the termination of the Term Term, shall automatically be conveyed and transferred by Tenant to Landlord upon such expiration or termination, and shall be deemed abandoned by Tenant and shall thereupon become the property of Landlord. Tenant shall execute such documentation confirming and ratifying such conveyance and transfer as Landlord shall reasonably require. Tenant shall repair at its sole cost and expense expense, in a manner reasonably acceptable to Landlord, all damage caused to the Leased Premises or the Building by removal of Tenant’s moveable equipment, or graphics, or furniture Personal Property and such other alterations and additions Tenant Alterations as Tenant shall remove or be allowed or required to remove as a condition of approval from the Leased Premises. Tenant has advised Landlord that Tenant may wish to create access points between areas of the leased premises under the 222 Berkeley Lease into the immediately adjacent areas of the Leased Premises on the same floor under the 500 Boylston Lease, by creating certain openings through the demising wall that separates the 200 Xxxxxxxx Xxxxxxxx and the 500 Xxxxxxxx Xxxxxxxx. Subject to the provisions of the Lease (including, without limitation, Section 4.06), Landlord shall not unreasonably withhold its consent to such alterations by Tenant, provided that such alterations shall comply with all applicable laws, building codes, regulations, and other governmental requirements, insurance requirements, and Landlord’s construction requirements applicable to such work (including, without limitation, regarding any structural work). If Tenant fails to perform any of its obligations under this paragraph prior to At the expiration or earlier termination of the TermLease (or such earlier time, then (without limiting if any, as any other remedies for such default) at Landlord’s election at any time thereafter Landlord may perform such work for Tenant’s account and at Tenant’s expenseconnected adjacent areas shall cease to be part of the leased premises under the 222 Berkeley Lease or part of the Leased Premises under the 500 Boylston Lease), and upon demand Tenant shall reimburse Landlord for all reasonable costs thereof (including fill in any such openings in the administrative fee set forth in Section 3.06) as an extra service hereunder. The obligations of Tenant under this paragraph shall survive any expiration or termination of this Leasedemising wall and restore the demising wall and affected areas to the condition existing immediately prior to such alterations.
Appears in 1 contract
Samples: Houghton Mifflin Co
Alterations and Surrender. Tenant shall not make or allow to be made any alterations or physical additions in or to the Leased Premises without obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned conditioned, or delayed with respect to proposed alterations and additions which (i) comply with all applicable laws, ordinances, rules and regulations, (ii) are compatible with the Building and its mechanical, electrical, HVAC and life safety systems, and do not excessively burden the capacity of such systems; (iii) will not interfere with the use and occupancy of any other portion of the Building; (iv) will not affect the structural integrity of the Building; and (v) will not require any unusual expense to re-adapt the Leased Premises, or otherwise diminish the value of the Leased Premises, for any general purpose office use; and (vi) satisfy the standards and comply with the procedures and requirements required for Tenant Improvements, as set forth in Exhibit B. (Notwithstanding the foregoing, Tenant shall not be required to obtain Landlord’s prior approval of plans for cosmetic alterations or standard equipment installations in the Leased Premises (such as painting, carpeting, or installations of built-in workstations, furniture, cabinets, or decorations), provided that such alterations (i) comply with the preceding sentence and do not include or affect any mechanical, electrical, or plumbing work or life safety or other Building systems or any structural elements of the Building, (ii) the cost of such alterations does not exceed $10 per square foot of Net Rentable Area 25,000 in the aggregate per project (or related series of projects) and (iii) such alterations shall otherwise be performed by Tenant, with reasonable prior notice to Landlord, in accordance with the terms and provisions of this Lease including, without limitation, this Section 4.07.) Specifically, but without limiting the generality of the foregoing, Landlord’s right of consent shall encompass plans and specifications for proposed alterations or additions, construction means and methods, the identity of any contractor or subcontractor to be employed on the work of alterations or additions, and the time for performance of such work. Tenant shall supply to Landlord any documents and information reasonably requested by Landlord in connection with its consent hereunder. (Any comments or disapproval by Landlord shall provide reasonable detail as to the objection.) Landlord’s approval of the plans, specifications and working drawings for Tenant’s alterations shall create no responsibility or liability on the part of Landlord for their completeness, design sufficiency, or compliance with all laws, rules and regulations of governmental agencies or authorities. All alterations and additions permitted hereunder shall be made and performed by Tenant without cost or expense to Landlord. Tenant shall take such steps as Landlord or its mortgagee may deem reasonably necessary to avoid the filing, perfection or enforcement of any lien for labor or materials against the Land or the Building by reason of work performed by or on behalf of Tenant, including without limitation the furnishing of such payment and performance bonds as Landlord may reasonably require (based on the scope of the work) for the particular work in question. All Tenant Improvements under Section 3.05, and all alterations, physical additions or improvements made to the Leased Premises by Tenant under this Section 4.07, shall become the property of Landlord upon the termination of this Lease and shall be surrendered to Landlord upon the termination of this Lease by lapse of time or otherwise; provided, however, that (a) this clause shall not apply to business equipment, exercise equipment, trade fixtures, or related installations or any other moveable equipment, furniture or personal property, all of which and shall be removed not apply to any Tenant Improvements, alterations, additions or improvements specified by Tenant, at Tenant’s expense, Tenant to Landlord and approved by Landlord in writing prior to the expiration of the Term, and (b) Tenant shall further remove (i) their installation or to any private bathrooms, shower facilities, raised flooring, internal stairs, and telecommunications/data cabling (subject to the next sentence) at the expiration or earlier termination of this Lease and (ii) any other special installations, plumbing, fixtures or other additions or improvements that would require unusual expense to re-adapt the Leased Premises for general office purposes and are so specified by Landlord for removal (which items Landlord, if so requested by Tenant, shall specify at the time of Landlord’s approval of the construction documents for such work), all of which shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the TermTerm (or, if the parties so agree in lieu of such removal, Tenant shall pay to Landlord an amount equal to the estimated cost of removing such items). Landlord specifically reserves the right to require Tenant to remove at the end of the Term any private bath and shower facilities in the Leased Premises and, at Tenant’s request at the time of approval of the plans therefor, shall indicate which elements of such improvements are to be removed. Tenant shall be responsible for leaving the Leased Premises clean, tenantable, clean and otherwise tenantable (and the obligations of Tenant provided for in good condition, reasonable wear and tear and damage by fire this paragraph shall survive any expiration or other casualty exceptedtermination of this Lease). Title to all alterations, physical additions or improvements and Tenant Improvements not removed by Tenant pursuant to this paragraph on or prior to the termination of the Term shall automatically be conveyed and transferred by Tenant to Landlord upon such expiration or termination, and shall be deemed abandoned by Tenant and shall thereupon become the property of Landlord. Tenant shall execute such documentation confirming and ratifying such conveyance and transfer as Landlord shall reasonably require. Tenant shall repair at its sole cost and expense all damage caused to the Leased Premises or the Building by removal of Tenant’s moveable equipment, or graphics, or furniture and such other alterations and additions as Tenant shall be allowed or required to remove from the Leased Premises by Landlord. If Tenant fails to perform any of its obligations under this paragraph prior to the expiration or earlier termination of the Term, then (without limiting any other remedies for such default) at Landlord’s election at any time thereafter Landlord may perform such work for Tenant’s account and at Tenant’s expense, and upon demand Tenant shall reimburse Landlord for all reasonable costs thereof (including the administrative fee set forth in Section 3.06) as an extra service hereunder. The obligations , together with holdover rent under Section 8.02 for the period required to perform such work if and to the extent Tenant’s failure to perform such work delays the space preparation work for the next tenant of Tenant under this paragraph shall survive any expiration all or termination part of this Leasethe Leased Premises.
Appears in 1 contract
Samples: NewStar Financial, Inc.
Alterations and Surrender. Tenant shall not make or allow to be made any alterations or physical additions Tenant Alterations in or to the Leased Premises without obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed withheld with respect to proposed alterations and additions which (i) comply with all applicable laws, ordinances, rules and regulations, (ii) are compatible with the Building and its mechanical, electrical, HVAC and life safety systems, and do not excessively burden the capacity of such systems; (iii) will do not materially interfere with the use and occupancy of any other portion of the Building; and (iv) will do not affect the structural integrity of the Building; (v) will not require any unusual expense to re-adapt the Leased Premises, or otherwise diminish the value of the Leased Premises, for any general purpose office use; and (vi) satisfy the standards and comply with the procedures and requirements required for Tenant Improvements, as set forth in Exhibit B. (Notwithstanding the foregoing, Tenant shall not be required to obtain Landlord’s prior approval of plans for cosmetic alterations in the Leased Premises (such as painting, carpeting, or installations of built-in workstations, furniture, cabinets, or decorations), provided that such alterations (i) comply with the preceding sentence and do not include or affect any mechanical, electrical, or plumbing work or life safety or other Building systems or any structural elements of the Building, (ii) the cost of such alterations does not exceed $10 per square foot of Net Rentable Area in the aggregate per project (or related series of projects) and (iii) such alterations shall otherwise be performed by Tenant, with reasonable prior notice to Landlord, in accordance with the terms and provisions of this Lease including, without limitation, this Section 4.07.) Specifically, but without limiting the generality of the foregoing, Landlord’s right of consent shall encompass plans and specifications for proposed alterations or additions, construction means and methods, the identity of any contractor or subcontractor to be employed on the work of alterations or additions, and the time for performance of such work. Tenant shall supply to Landlord any documents and information reasonably requested by Landlord in connection with its consent hereunder. Notwithstanding the foregoing, nonstructural Tenant Alterations which do not impact the Building’s mechanical, electrical, HVAC and life safety systems and which otherwise satisfy the criteria set forth in (i) through (iv) above, and the other provisions hereof, shall not require Landlord’s approval consent if the cost thereof does not exceed twenty-five thousand dollars ($25,000), provided, however, that Tenant shall nonetheless provide written notice of the plansproposed alteration, together with plans and specifications therefor (or such other information in lieu of plans and working drawings for Tenantspecifications as Landlord may reasonably require) at least ten (10) Business Days before undertaking any such work. Notwithstanding that the same may constitute Building Common Areas, Tenant may paint or decorate that portion of the Building’s alterations shall create no responsibility or liability on fire stairwells located between floors constituting the part Leased Premises, subject to the prior written consent of Landlord for their completeness, design sufficiency, or compliance with all laws, rules and regulations of governmental agencies or authorities(which shall not be unreasonably withheld). All alterations and additions Tenant Alterations permitted hereunder shall be made and performed by Tenant without cost or expense to Landlord, and the work necessary therefor shall be handled in such a manner as to maintain harmonious labor relations and not interfere with or delay the work of any contractor employed by Landlord; provided, however, that Tenant and Landlord shall each use reasonable efforts to avoid any interference between their respective contractors. Tenant’s contractors, subcontractors and labor shall be subject to reasonable rules and regulations of the site. If any contractors, subcontractors or labor employed by or on behalf of Tenant in connection with such Tenant Alterations cause any dispute, strike or unrest with or amongst other contractors, subcontractors or labor who may then or thereafter be engaged to work at the Project, Tenant shall, within two (2) Business Days after written notice to do so by Landlord, either eliminate the problem or remove the person(s) causing the problem, and after said two (2) Business Day period, Landlord shall have the right to deny access to the Project to such person(s). Tenant shall reimburse Landlord upon demand for any and all costs or expenses incurred by Landlord as a result of such dispute. Tenant shall take such steps as Landlord or its mortgagee may deem reasonably be necessary to avoid the filing, perfection or enforcement of any lien for labor or materials against the Land or the Building by reason of work performed by or on behalf of Tenant, including without limitation and shall cause any such lien to be discharged of record by payment, deposit, order of court of competent jurisdiction, bonding or other manner reasonably acceptable to Landlord as soon as is reasonably possible but in no event more than ten (10) Business Days after the furnishing first to occur of such payment and performance bonds as Landlord may reasonably require (based i) the date on the scope which Tenant receives actual notice of the workfiling thereof, or (ii) for the particular work date on which Landlord gives notice to Tenant of the filing thereof (except where such lien is filed as a result of the failure of Tenant to pay any contractor, subcontractor or labor any amount owing to such contractor, subcontractor or labor when due, or other fault of Tenant, in questionwhich case Tenant shall cause such lien to be discharged as soon as is reasonably possible). All Landlord agrees to make reasonable efforts to cooperate with Tenant Improvements under Section 3.05, and all alterations, physical additions or improvements as reasonably necessary to discharge such lien. Such Tenant Alterations when made to the Leased Premises by Premises, together with all Initial Tenant under this Section 4.07Improvements, shall become the property of Landlord upon the termination of this Lease and shall be surrendered to Landlord upon the termination of this Lease by lapse of time or otherwise; provided, however, that (a) this clause shall not apply to business equipment, exercise equipment, trade fixturesTenant’s Personal Property and shall not apply to any Initial Tenant Improvements or Tenant Alterations specified by Tenant in a notice given to Landlord and approved by Landlord in writing prior to effecting the same, or related installations or any other moveable equipmentwhich as a condition of approval Landlord specifies that Tenant remove, furniture or personal property, and all of which shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the Term, and (b) Personal Property together with any Initial Tenant shall further remove (i) any private bathrooms, shower facilities, raised flooring, internal stairs, and telecommunications/data cabling (subject to the next sentence) at the expiration Improvements or earlier termination of this Lease and (ii) any other special installations, plumbing, fixtures or other additions or improvements that would require unusual expense to re-adapt the Leased Premises for general office purposes and are Tenant Alterations so specified by Landlord for removal (which items Landlord, if so requested by Tenant, shall specify at the time of Landlord’s approval of the construction documents for such work), all of which or Tenant shall be removed by Tenant, at Tenant’s expense, prior to the expiration of the Term. At the expiration or termination of this Lease, Tenant shall be responsible for leaving peaceably yield up the Leased Premises cleanclean and neat, tenantablesubject to and in accordance with the requirements of Section 4.04 (and the obligations of Tenant provided for in this sentence, and otherwise in good condition, reasonable wear and tear and damage by fire the balance of this paragraph shall survive any expiration or other casualty exceptedtermination of this Lease). Title to all alterations, physical additions or improvements Tenant Alterations and Initial Tenant Improvements not removed by Tenant pursuant to this paragraph the immediately preceding sentence on or prior to the termination of the Term shall automatically be conveyed and transferred by Tenant to Landlord upon such expiration or termination, and shall be deemed abandoned by Tenant and shall thereupon become the property of Landlord. Tenant shall execute such documentation confirming and ratifying such conveyance and transfer as Landlord shall reasonably require. Tenant shall repair at its sole cost and expense expense, in a manner reasonably acceptable to Landlord, all damage caused to the Leased Premises or the Building by removal of Tenant’s moveable equipment, or graphics, or furniture Personal Property and such other alterations and additions Initial Tenant Improvements or Tenant Alterations as Tenant shall remove or be allowed or required to remove as a condition of approval from the Leased Premises by Landlord. If Tenant fails to perform any of its obligations under this paragraph prior to the expiration or earlier termination of the Term, then (without limiting any other remedies for such default) at Landlord’s election at any time thereafter Landlord may perform such work for Tenant’s account and at Tenant’s expense, and upon demand Tenant shall reimburse Landlord for all reasonable costs thereof (including the administrative fee set forth in Section 3.06) as an extra service hereunder. The obligations of Tenant under this paragraph shall survive any expiration or termination of this LeasePremises.
Appears in 1 contract
Samples: Houghton Mifflin Co