Common use of Basic Lease Provisions and Definitions Clause in Contracts

Basic Lease Provisions and Definitions. (a) Leased Premises (shown outlined on Exhibit A attached hereto): The building commonly known as the “Assembly Building” (the “Building”), located at 0000 X. XX Xxx. 00, Xxxxxx, Xxxxx Xxxxxxxx, within the Park Point office and research park (the “Park”), which is itself located within the Research Triangle Park (the “RTP”). (b) Rentable Area: Subject to Section 1.03, approximately 200,340 rentable square feet, consisting of the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Initial Leased Premises”) and the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Deferred Leased Premises”), collectively being all of the rentable square feet within the Building. The Rentable Area of the Leased Premises includes the square footage within the Leased Premises plus a thirteen and 2/10ths percent (13.2%) load factor, subject to Section 1.03(b). (c) Tenant’s Proportionate Share: 66% prior to Tenant commencing use of the Deferred Leased Premises, and 100% following earlier to occur of (i) Tenant commencing use of the Deferred Leased Premises (or any portion thereof) or (ii) the first day of the thirty-seventh (37th) month of the Lease Term (such earlier date the “Deferred Leased Premises Trigger Date”). (d) Building’s Share: 30.73% as of the Lease Date, determined, from time to time, by dividing the Rentable Area of the Building by the rentable share footage of all tenant space within the Park (being approximately 652,000 rentable square feet as of the Lease Date), subject to Section 1.03(b). (e) Minimum Annual Rent and Monthly Rental Installments: Time Period (months) MinimumAnnual Rent /SF(Initial LeasedPremises) Minimum Monthly Rental Installments (Initial Leased Premises) MinimumAnnual Rent /SF(DeferredLeasedPremises) MinimumMonthlyRentalInstallments(DeferredLeasedPremises) Total Monthly Rental Installments Total Period Rental Installments 1 3* $0.00 $0.00# $0.00 $0.00 $0.00 $0.00 4 12 $31.00 $310,527.00# $0.00 $0.00 $310,527.00 $2,794,743.00 13 24 $31.85 $319,066.49# $0.00 $0.00 $319,066.49 $3,828,797.91 25 36 $32.73 $327,840.82# $0.00 $0.00 $327,840.82 $3,934,089.85 37 48 $33.63 $336,856.44 $33.63 $224,570.96 $561,427.41 $6,737,128.87 49 60 $34.55 $346,120.00 $34.55 $230,746.66 $576,866.66 $6,922,399.92 61 72 $35.50 $355,638.30 $35.50 $237,092.20 $592,730.49 $7,112,765.91 73 84 $36.48 $365,418.35 $36.48 $243,612.23 $609,030.58 $7,308,366.98 85 96 $37.48 $375,467.35 $37.48 $250,311.57 $625,778.92 $7,509,347.07 97 108 $38.51 $385,792.71 $38.51 $257,195.14 $642,987.84 $7,715,854.11 109 120 $39.57 $396,402.01 $39.57 $264,268.00 $660,670.01 $7,928,040.10 121 132 $40.66 $407,303.06 $40.66 $271,535.37 $678,838.43 $8,146,061.20 133 144 $41.78 $418,503.89 $41.78 $279,002.60 $697,506.49 $8,370,077.89 145 150 $42.93 $430,012.75^ $42.93 $286,675.17^ $716,687.92^ $4,300,127.51^ * “Months” refer to monthly periods following the Commencement Date, and Minimum Annual Rent for the Initial Leased Premises during the first thirty-six (36) months of the Lease Term will be calculated based on sixty percent (60%) of the Rentable Area of the entire Leased Premises, regardless of the actual Rentable Area of the Initial Leased Premises. # Subject to the provisions in Section 2.02 below regarding Landlord’s Work and Additional Improvements. ^ The amount shown reflects six (6) months. If the Commencement Date is not the first day of a calendar month and the final Month of the Lease Term is automatically extended to include the remaining partial calendar month following the date on which the Lease Term would otherwise expire (pursuant to Section 1.01(h) below), Tenant shall pay Minimum Annual Rent relative to such partial calendar month (at the same rate and on a prorated basis) in addition to the amount shown. (f) Intentionally omitted.

Appears in 2 contracts

Samples: Lease Agreement (Grail, Inc.), Lease Agreement (Grail, Inc.)

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Basic Lease Provisions and Definitions. (a) A. Leased Premises (shown outlined on Exhibit A attached hereto): The building commonly known as the “Assembly Suite: 100; Building Address: Woodland VI, 7000 Xxxxxxxxxxx Xxx, Xxxxxxxxxxxx, Xxxxxxx 00000 ("Building” (the “Building”"), located at 0000 X. XX Xxx. 00, Xxxxxx, Xxxxx Xxxxxxxx, on the land identified on Exhibit A-1 (the "Land") within the Interactive Intelligence Corporate Park Point office and research park (the “Park”), which is itself located within the Research Triangle Park (the “RTP”).; (b) B. Rentable Area: Subject to Section 1.03, approximately 200,340 128,259 rentable square feet; commencing September 1, consisting of the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Initial Leased Premises”) and the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Deferred Leased Premises”), collectively being all of the 2018 an additional 10,055 rentable square feet within for a total of 138,314 rentable square feet; and commencing December 1, 2018 an additional 13,636 rentable square feet for a total of 151,950 rentable square feet; Landlord shall use the standards described in the Standard Method for Mxxxxxxxx Xxxxx Xxxx xx Xxxxxx Xxxxxxxxx, XXX0X00.0-0000, as promulgated by the Building Owners and Managers Association International (BOMA), consistently applied, in determining the Rentable Area and the rentable area of the Building. The Rentable Area of shall include the Leased Premises includes the square footage area within the Leased Premises plus a thirteen and 2/10ths percent (13.2%) load factorpro rata portion of the area covered by the common areas within the Building, subject to Section 1.03(b). (c) Tenant’s Proportionate Share: 66% as reasonably determined by Landlord prior to the Occupancy Date, as hereinafter defined. Landlord's determination of Rentable Area made in good faith shall presumptively be deemed correct for all purposes hereunder; provided, however, Tenant commencing use of shall have the Deferred Leased Premisesright, and 100% following earlier at any time prior to occur of (i) Tenant commencing use of the Deferred Commencement Date, to have the Leased Premises and Building measured by Tenant's architect and, in the event of a disparity of or dispute to Landlord's measurement, either (or any portion thereofa) or (ii) the first day of the thirty-seventh (37th) month of the Lease Term (such earlier date the “Deferred Leased Premises Trigger Date”). (d) Building’s Share: 30.73% as of the Lease Date, determined, from time to time, by dividing Landlord and Tenant shall mutually agree on the Rentable Area of the Building by Leased Premises and the rentable share area of the Building, or (b) Landlord and Tenant shall agree to have the Leased Premises and Building measured by an independent architect mutually agreed upon by Landlord and Tenant, in which event Landlord and Tenant agree to abide by such certified remeasurement. If the rentable square footage of all tenant space within the Park Leased Premises/Building, as measured by said independent architect, is one thousand (being approximately 652,000 1,000) feet or more smaller than Landlord's determination of the rentable square feet as footage of the Lease Date), subject to Section 1.03(b). (e) Minimum Annual Rent and Monthly Rental Installments: Time Period (months) MinimumAnnual Rent /SF(Initial LeasedPremises) Minimum Monthly Rental Installments (Initial Leased Premises) MinimumAnnual Rent /SF(DeferredLeasedPremises) MinimumMonthlyRentalInstallments(DeferredLeasedPremises) Total Monthly Rental Installments Total Period Rental Installments 1 3* $0.00 $0.00# $0.00 $0.00 $0.00 $0.00 4 12 $31.00 $310,527.00# $0.00 $0.00 $310,527.00 $2,794,743.00 13 24 $31.85 $319,066.49# $0.00 $0.00 $319,066.49 $3,828,797.91 25 36 $32.73 $327,840.82# $0.00 $0.00 $327,840.82 $3,934,089.85 37 48 $33.63 $336,856.44 $33.63 $224,570.96 $561,427.41 $6,737,128.87 49 60 $34.55 $346,120.00 $34.55 $230,746.66 $576,866.66 $6,922,399.92 61 72 $35.50 $355,638.30 $35.50 $237,092.20 $592,730.49 $7,112,765.91 73 84 $36.48 $365,418.35 $36.48 $243,612.23 $609,030.58 $7,308,366.98 85 96 $37.48 $375,467.35 $37.48 $250,311.57 $625,778.92 $7,509,347.07 97 108 $38.51 $385,792.71 $38.51 $257,195.14 $642,987.84 $7,715,854.11 109 120 $39.57 $396,402.01 $39.57 $264,268.00 $660,670.01 $7,928,040.10 121 132 $40.66 $407,303.06 $40.66 $271,535.37 $678,838.43 $8,146,061.20 133 144 $41.78 $418,503.89 $41.78 $279,002.60 $697,506.49 $8,370,077.89 145 150 $42.93 $430,012.75^ $42.93 $286,675.17^ $716,687.92^ $4,300,127.51^ * “Months” refer to monthly periods following /Building, then the Commencement Datecosts of said independent architect shall be borne by Landlord, and Minimum Annual Rent for the Initial Leased Premises during the first thirty-six (36) months of the Lease Term will otherwise said costs shall be calculated based on sixty percent (60%) of the Rentable Area of the entire Leased Premises, regardless borne by Tenant. Upon determination of the actual Rentable Area of the Initial Leased Premises. # Subject to the provisions in Section 2.02 below regarding Landlord’s Work Premises and Additional Improvements. ^ The amount shown reflects six (6) months. If the Commencement Date is not the first day of a calendar month and the final Month rentable area of the Lease Term is automatically extended to include Building, the remaining partial calendar month following the date on which the Lease Term would otherwise expire (pursuant to Section 1.01(h) below), Tenant shall pay Minimum Annual Rent relative and all other rents payable by Tenant hereunder shall be adjusted to such partial calendar month (at reflect the same rate and on a prorated basis) in addition to the amount shownactual square footage. (f) Intentionally omitted.C. Building Expense Percentage: 84.41%; commencing September 1, 2018 – 91.03%; and commencing December 1, 2018 - 100%; D. Minimum Annual Rent:

Appears in 1 contract

Samples: Office Lease (Interactive Intelligence Group, Inc.)

Basic Lease Provisions and Definitions. (a) A. Leased Premises (shown outlined on Exhibit A attached hereto): The building commonly known as the “Assembly Suite: 100; Building Address: Woodland VII, [TBD] Ixxxxxxxxxx Xxx, Xxxxxxxxxxxx, Xxxxxxx 00000 ("Building” (the “Building”"), located at 0000 X. XX Xxx. 00, Xxxxxx, Xxxxx Xxxxxxxx, on the land identified on Exhibit A-1 (the "Land") within the Interactive Intelligence Corporate Park Point office and research park (the “Park”), which is itself located within the Research Triangle Park (the “RTP”).; (b) B. Rentable Area: Subject to Section 1.03, approximately 200,340 112,500 rentable square feet; Landlord shall use the standards described in the Standard Method for Mxxxxxxxx Xxxxx Xxxx xx Xxxxxx Xxxxxxxxx, consisting of XXX0X00.0-0000, as promulgated by the portion of Building Owners and Managers Association International (BOMA), consistently applied, in determining the Leased Premises shown highlighted on Exhibit A attached hereto (the “Initial Leased Premises”) Rentable Area and the portion rentable area of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Deferred Leased Premises”), collectively being all of the rentable square feet within the Building. The Rentable Area of shall include the Leased Premises includes the square footage area within the Leased Premises plus a thirteen and 2/10ths percent (13.2%) load factorpro rata portion of the area covered by the common areas within the Building, subject to Section 1.03(b). (c) Tenant’s Proportionate Share: 66% as reasonably determined by Landlord prior to the Occupancy Date, as hereinafter defined. Landlord's determination of Rentable Area made in good faith shall presumptively be deemed correct for all purposes hereunder; provided, however, Tenant commencing use of shall have the Deferred Leased Premisesright, and 100% following earlier at any time prior to occur of (i) Tenant commencing use of the Deferred Commencement Date, to have the Leased Premises and Building measured by Tenant's architect and, in the event of a disparity of or dispute to Landlord's measurement, either (or any portion thereofa) or (ii) the first day of the thirty-seventh (37th) month of the Lease Term (such earlier date the “Deferred Leased Premises Trigger Date”). (d) Building’s Share: 30.73% as of the Lease Date, determined, from time to time, by dividing Landlord and Tenant shall mutually agree on the Rentable Area of the Building by Leased Premises and the rentable share area of the Building, or (b) Landlord and Tenant shall agree to have the Leased Premises and Building measured by an independent architect mutually agreed upon by Landlord and Tenant, in which event Landlord and Tenant agree to abide by such certified remeasurement. If the rentable square footage of all tenant space within the Park Leased Premises/Building, as measured by said independent architect, is one thousand (being approximately 652,000 1,000) feet or more smaller than Landlord's determination of the rentable square feet as footage of the Lease Date), subject to Section 1.03(b). (e) Minimum Annual Rent and Monthly Rental Installments: Time Period (months) MinimumAnnual Rent /SF(Initial LeasedPremises) Minimum Monthly Rental Installments (Initial Leased Premises) MinimumAnnual Rent /SF(DeferredLeasedPremises) MinimumMonthlyRentalInstallments(DeferredLeasedPremises) Total Monthly Rental Installments Total Period Rental Installments 1 3* $0.00 $0.00# $0.00 $0.00 $0.00 $0.00 4 12 $31.00 $310,527.00# $0.00 $0.00 $310,527.00 $2,794,743.00 13 24 $31.85 $319,066.49# $0.00 $0.00 $319,066.49 $3,828,797.91 25 36 $32.73 $327,840.82# $0.00 $0.00 $327,840.82 $3,934,089.85 37 48 $33.63 $336,856.44 $33.63 $224,570.96 $561,427.41 $6,737,128.87 49 60 $34.55 $346,120.00 $34.55 $230,746.66 $576,866.66 $6,922,399.92 61 72 $35.50 $355,638.30 $35.50 $237,092.20 $592,730.49 $7,112,765.91 73 84 $36.48 $365,418.35 $36.48 $243,612.23 $609,030.58 $7,308,366.98 85 96 $37.48 $375,467.35 $37.48 $250,311.57 $625,778.92 $7,509,347.07 97 108 $38.51 $385,792.71 $38.51 $257,195.14 $642,987.84 $7,715,854.11 109 120 $39.57 $396,402.01 $39.57 $264,268.00 $660,670.01 $7,928,040.10 121 132 $40.66 $407,303.06 $40.66 $271,535.37 $678,838.43 $8,146,061.20 133 144 $41.78 $418,503.89 $41.78 $279,002.60 $697,506.49 $8,370,077.89 145 150 $42.93 $430,012.75^ $42.93 $286,675.17^ $716,687.92^ $4,300,127.51^ * “Months” refer to monthly periods following /Building, then the Commencement Datecosts of said independent architect shall be borne by Landlord, and Minimum Annual Rent for the Initial Leased Premises during the first thirty-six (36) months of the Lease Term will otherwise said costs shall be calculated based on sixty percent (60%) of the Rentable Area of the entire Leased Premises, regardless borne by Tenant. Upon determination of the actual Rentable Area of the Initial Leased Premises. # Subject to the provisions in Section 2.02 below regarding Landlord’s Work Premises and Additional Improvements. ^ The amount shown reflects six (6) months. If the Commencement Date is not the first day of a calendar month and the final Month rentable area of the Lease Term is automatically extended to include Building, the remaining partial calendar month following the date on which the Lease Term would otherwise expire (pursuant to Section 1.01(h) below), Tenant shall pay Minimum Annual Rent relative and all other rents payable by Tenant hereunder shall be adjusted to such partial calendar month (at reflect the same rate and on a prorated basis) in addition to the amount shownactual square footage. C. Building Expense Percentage: 100%; D. Minimum Annual Rent: Year 1$1,974,375.00 per year Year 2$2,023,875.00 per year Year 3$2,074,500.00 per year Year 4$2,126,250.00 per year Year 5$2,179,125.00 per year Year 6$2,234,250.00 per year Year 7$2,289,375.00 per year Year 8$2,346,750.00 per year Year 9$2,405,250.00 per year Year 10$2,466,000.00 per year E. Monthly Rental Installment: Months 1 – 12$164,531.25 per month Months 13 – 24$168,656.25 per month Months 25 – 36$172,875.00 per month Months 37 – 48$177,187.50 per month Months 49 – 60$181,593.75 per month Months 61 – 72$186,187.50 per month Months 73 – 84$190,781.25 per month Months 85 – 96$195,562.50 per month Months 97 – 108$200,437.50 per month Months 109 – 120$205,500.00 per month F. Lease Term: Ten (f10) Intentionally omitted.years; G. Xxxxxx Commencement Date: July 1, 2015; H. Xxxxxxxx Deposit: None; I. Brokers: Duke Realty Services, LLC representing Landlord and NAI Meridian representing Tenant;

Appears in 1 contract

Samples: Office Lease (Interactive Intelligence Group, Inc.)

Basic Lease Provisions and Definitions. (a) Leased Premises (shown outlined on Exhibit A attached hereto): The building commonly known as the “Assembly Building” (the “Building”), located at 0000 X. XX Xxx. 00, Xxxxxx, Xxxxx Xxxxxxxx, within the Park Point office and research park (the “Park”), which is itself located within the Research Triangle Park (the “RTP”). (b) Rentable Area: Subject to Section 1.03, approximately 200,340 rentable square feet, consisting of the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Initial Leased Premises”) and the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Deferred Leased Premises”), collectively being all of the rentable square feet within the Building. The Rentable Area of the Leased Premises includes the square footage within the Leased Premises plus a thirteen and 2/10ths percent (13.2%) load factor, subject to Section 1.03(b). (c) Tenant’s Proportionate Share: 66% prior to Tenant commencing use of the Deferred Leased Premises, and 100% following earlier to occur of (i) Tenant commencing use of the Deferred Leased Premises (or any portion thereof) or (ii) the first day of the thirty-seventh (37th) month of the Lease Term (such earlier date the “Deferred Leased Premises Trigger Date”). (d) Building’s Share: 30.73% as of the Lease Date, determined, from time to time, by dividing the Rentable Area of the Building by the rentable share footage of all tenant space within the Park (being approximately 652,000 rentable square feet as of the Lease Date), subject to Section 1.03(b). (e) Minimum Annual Rent and Monthly Rental Installments: Time Period (months) MinimumAnnual Rent /SF(Initial LeasedPremises) Minimum Monthly Rental Installments (Initial Leased Premises) MinimumAnnual Rent /SF(DeferredLeasedPremises) MinimumMonthlyRentalInstallments(DeferredLeasedPremises) Total Monthly Rental Installments Total Period Rental Installments 1 3* $$ 0.00 $0.00$ 0.00 # $$ 0.00 $$ 0.00 $$ 0.00 $$ 0.00 4 12 $$ 31.00 $310,527.00$ 310,527.00 # $$ 0.00 $$ 0.00 $$ 310,527.00 $$ 2,794,743.00 13 24 $$ 31.85 $319,066.49$ 319,066.49 # $$ 0.00 $$ 0.00 $$ 319,066.49 $$ 3,828,797.91 25 36 $$ 32.73 $327,840.82$ 327,840.82 # $$ 0.00 $$ 0.00 $$ 327,840.82 $$ 3,934,089.85 37 48 $$ 33.63 $$ 336,856.44 $$ 33.63 $$ 224,570.96 $$ 561,427.41 $$ 6,737,128.87 49 60 $$ 34.55 $$ 346,120.00 $$ 34.55 $$ 230,746.66 $$ 576,866.66 $$ 6,922,399.92 61 72 $$ 35.50 $$ 355,638.30 $$ 35.50 $$ 237,092.20 $$ 592,730.49 $$ 7,112,765.91 73 84 $$ 36.48 $$ 365,418.35 $$ 36.48 $$ 243,612.23 $$ 609,030.58 $$ 7,308,366.98 85 96 $$ 37.48 $$ 375,467.35 $$ 37.48 $$ 250,311.57 $$ 625,778.92 $$ 7,509,347.07 97 108 $$ 38.51 $$ 385,792.71 $$ 38.51 $$ 257,195.14 $$ 642,987.84 $$ 7,715,854.11 109 120 $$ 39.57 $$ 396,402.01 $$ 39.57 $$ 264,268.00 $$ 660,670.01 $$ 7,928,040.10 121 132 $$ 40.66 $$ 407,303.06 $$ 40.66 $$ 271,535.37 $$ 678,838.43 $$ 8,146,061.20 133 144 $$ 41.78 $$ 418,503.89 $$ 41.78 $$ 279,002.60 $$ 697,506.49 $$ 8,370,077.89 145 150 $$ 42.93 $430,012.75^ $$ 430,012.75 ^ $ 42.93 $286,675.17^ $716,687.92^ $4,300,127.51^ $ 286,675.17 ^ $ 716,687.92 ^ $ 4,300,127.51 ^ * “Months” refer to monthly periods following the Commencement Date, and Minimum Annual Rent for the Initial Leased Premises during the first thirty-six (36) months of the Lease Term will be calculated based on sixty percent (60%) of the Rentable Area of the entire Leased Premises, regardless of the actual Rentable Area of the Initial Leased Premises. # Subject to the provisions in Section 2.02 below regarding Landlord’s Work and Additional Improvements. ^ The amount shown reflects six (6) months. If the Commencement Date is not the first day of a calendar month and the final Month of the Lease Term is automatically extended to include the remaining partial calendar month following the date on which the Lease Term would otherwise expire (pursuant to Section 1.01(h) below), Tenant shall pay Minimum Annual Rent relative to such partial calendar month (at the same rate and on a prorated basis) in addition to the amount shown. (f) Intentionally omitted.

Appears in 1 contract

Samples: Lease Agreement (Grail, LLC)

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Basic Lease Provisions and Definitions. (a) Leased Premises (shown outlined on Exhibit A attached hereto): The Suites 100, 300, 400, and 500 of the building to be constructed by Landlord, which will be commonly known as the “Assembly Building” Perimeter Four (the "Building"), located at 0000 X. XX Xxx. 00Xxxxxxxxxx Xxxx Boulevard, XxxxxxMorrisville, Xxxxx XxxxxxxxNorth Carolina 27560, within the Park Point office and research park (the “Park”), which is itself located within the Research Triangle Perimeter Park (the “RTP”"Park"). (b) Rentable Area: Subject to Section 1.03, approximately 200,340 136,538 rentable square feet, consisting of the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Initial Leased Premises”) and the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Deferred Leased Premises”), collectively being all of the rentable square feet within the Building. The Rentable Area of the Leased Premises includes the square footage within the Leased Premises plus a thirteen pro rata portion of the square footage of the common areas within the Building, as reasonably determined by Landlord. For information purposes only, Landlord used the Building Owners and 2/10ths percent Managers Association International (13.2%"BOMA") load factorStandard Method for Measuring Floor Area In Office Buildings (American National Standard ANSI-Z65.1-1996 approved June 7, 1996 by American National Standards Institute, Inc.) in determining the useable area of the Building plus a 10.5% add-on factor for single-tenant floors or a 17.4% add-on for multi-tenant floors for common areas to determine the rentable area of the Leased Premises. Landlord and Tenant hereby acknowledge and agree that the square footage of the Rentable Area as set forth above is estimated by Landlord based upon the preliminary construction plans and will be subject to Section 1.03(bre-measurement by Landlord on or before the Commencement Date (as hereinafter defined). Without limiting the foregoing, if Tenant delivers to Landlord a written objection to Landlord's re-measurement of the Rentable Area within ten (10) days after Tenant's receipt of Landlord's determination of the same, and the parties cannot agree on the Rentable Area within ten (10) days after Tenant's written objection, Tenant may choose arbitration to determine the Rentable Area. If Tenant chooses arbitration, Tenant shall give Landlord written notice of its desire to seek arbitration within five (5) days after expiration of such ten (10) day period ("Arbitration Notice"). Within ten (10) days after Tenant provides Landlord with its Arbitration Notice, Tenant shall appoint an architect to determine the Rentable Area. If the architects cannot agree upon the Rentable Area within ten (10) days after the appointment of Tenant's architect, then, within ten (10) days after the expiration of such ten (10) day period, the two architects shall select a third architect. Once the third architect has been selected as provided for above, then such third architect shall within five (5) days after appointment make its determination of the Rentable Area. The average of the two closest determinations of the Rentable Area shall be used and shall be binding on both Landlord and Tenant. Landlord and Tenant shall each bear the cost of its architect and shall share the cost of the third. If Tenant fails to provide the Arbitration Notice as provided above, then Tenant shall have no further right to object to Landlord's determination of the Rentable Area. At the option of either party, Landlord and Tenant shall enter into an amendment to this Lease confirming the terms of such re-measurement. (c) Tenant’s 's Proportionate Share: 6671.03% prior to Tenant commencing use of (based on 136,538 rentable square feet within the Deferred Leased Premises, and 100% following earlier to occur of (i) Tenant commencing use of the Deferred Leased Premises (or any portion thereof) or (ii) divided by the first day of 192,225 rentable square feet within the thirty-seventh (37th) month of the Lease Term (such earlier date the “Deferred Leased Premises Trigger Date”Building). (d) Building’s Share: 30.73% as of the Lease Date, determined, from time to time, by dividing the Rentable Area of the Building by the rentable share footage of all tenant space within the Park Minimum Annual Rent H:\ChannelAdvisor.7(final).doc Year 1 $3,208,643.00 (being approximately 652,000 rentable square feet as of the Lease Date$23.50 per rsf) Year 2 $3,296,880.60 ($24.15 per rsf) Year 3 $3,387,544.70 ($24.81 per rsf) Year 4 $3,480,702.20 ($25.49 per rsf) Year 5 $3,576,421.40 ($26.19 per rsf) Year 6 $3,674,772.90 ($26.91 per rsf) Year 7 $3,775,829.00 ($27.65 per rsf), subject to Section 1.03(b). (e) Minimum Annual Rent and Monthly Rental Installments: Time Period (months) MinimumAnnual Rent /SF(Initial LeasedPremises) Minimum Monthly Rental Installments (Initial Leased Premises) MinimumAnnual Rent /SF(DeferredLeasedPremises) MinimumMonthlyRentalInstallments(DeferredLeasedPremises) Total Monthly Rental Installments Total Period Rental Installments Months 1 3* $0.00 $0.00# $0.00 $0.00 $0.00 $0.00 4 12 $31.00 $310,527.00# $0.00 $0.00 $310,527.00 $2,794,743.00 267,386.91 Months 13 24 $31.85 $319,066.49# $0.00 $0.00 $319,066.49 $3,828,797.91 274,740.05 Months 25 36 $32.73 $327,840.82# $0.00 $0.00 $327,840.82 $3,934,089.85 282,295.39 Months 37 48 $33.63 $336,856.44 $33.63 $224,570.96 $561,427.41 $6,737,128.87 290,058.51 Months 49 60 $34.55 $346,120.00 $34.55 $230,746.66 $576,866.66 $6,922,399.92 298,035.11 Months 61 72 $35.50 $355,638.30 $35.50 $237,092.20 $592,730.49 $7,112,765.91 306,231.07 Months 73 84 $36.48 $365,418.35 $36.48 $243,612.23 $609,030.58 $7,308,366.98 85 96 $37.48 $375,467.35 $37.48 $250,311.57 $625,778.92 $7,509,347.07 97 108 $38.51 $385,792.71 $38.51 $257,195.14 $642,987.84 $7,715,854.11 109 120 $39.57 $396,402.01 $39.57 $264,268.00 $660,670.01 $7,928,040.10 121 132 $40.66 $407,303.06 $40.66 $271,535.37 $678,838.43 $8,146,061.20 133 144 $41.78 $418,503.89 $41.78 $279,002.60 $697,506.49 $8,370,077.89 145 150 $42.93 $430,012.75^ $42.93 $286,675.17^ $716,687.92^ $4,300,127.51^ * “Months” refer to monthly periods following the Commencement Date, and Minimum Annual Rent for the Initial Leased Premises during the first thirty-six (36) months of the Lease Term will be calculated based on sixty percent (60%) of the Rentable Area of the entire Leased Premises, regardless of the actual Rentable Area of the Initial Leased Premises. # Subject to the provisions in Section 2.02 below regarding Landlord’s Work and Additional Improvements. ^ The amount shown reflects six (6) months. If the Commencement Date is not the first day of a calendar month and the final Month of the Lease Term is automatically extended to include the remaining partial calendar month following the date on which the Lease Term would otherwise expire (pursuant to Section 1.01(h) below), Tenant shall pay Minimum Annual Rent relative to such partial calendar month (at the same rate and on a prorated basis) in addition to the amount shown.314,652.41 (f) Intentionally omittedBase Year: 2016. (g) Target Commencement Date: October 1, 2015 with a day-for-day adjustment for each day after July 31, 2014 that this Lease is not yet executed by Tenant and delivered to Landlord).

Appears in 1 contract

Samples: Office Lease (Channeladvisor Corp)

Basic Lease Provisions and Definitions. (a) A. Leased Premises (shown outlined on Exhibit A A, attached hereto): The All of the rentable square footage of a building commonly known as the “Assembly Building” to be constructed at Xxxxxxx Parkway, Xxxxxxxx Xxxx, Xxxxxxxxx 00000; Building No. 7 (the “Building”), ) (address to be completed when established) located at 0000 X. XX Xxx. 00, Xxxxxx, Xxxxx Xxxxxxxx, within the Park Point office and research park in Crosstown North Business Center (the “Park”), which is itself located within the Research Triangle Park (the “RTP”).; (b) B. Rentable Area: Subject to Section 1.03, approximately 200,340 rentable square feet, consisting of the portion Area of the Leased Premises shown highlighted on Exhibit A attached hereto (Premises: approximately 120,000 square feet; Landlord shall use commercially reasonable standards, consistently applied, in determining the “Initial Leased Premises”) and the portion of the Leased Premises shown highlighted on Exhibit A attached hereto (the “Deferred Leased Premises”), collectively being all of the rentable square feet within the Building. The Rentable Area of the Leased Premises includes and the square footage within rentable area of the Building. Landlord’s architect shall certify to Tenant the Rentable Area of the Leased Premises plus a thirteen and 2/10ths percent (13.2%) load factor, subject to Section 1.03(b)the rentable area of the Building. Landlord’s determination of Rentable Area of the Leased Premises as certified by Landlord’s architect shall conclusively be deemed correct for all purposes hereunder. (c) C. Tenant’s Proportionate Share: 66% prior to Tenant commencing use of the Deferred Leased Premises, and 100% following earlier to occur of (i) Tenant commencing use of the Deferred Leased Premises (or any portion thereof) or (ii) the first day of the thirty-seventh (37th) month of the Lease Term (such earlier date the “Deferred Leased Premises Trigger Date”).100.00%; (d) Building’s Share: 30.73% as of the Lease Date, determined, from time to time, by dividing the Rentable Area of the Building by the rentable share footage of all tenant space within the Park (being approximately 652,000 rentable square feet as of the Lease Date), subject to Section 1.03(b). (e) D. Minimum Annual Rent and Rent: Years 1 - 3 $560,400.00 per year Years 4 - 7 $588,000.00 per year; E. Monthly Rental Installments: Time Period Months 1 - 36 $ 46,700.00 per month Months 37 - 84 $ 49,000.00 per month; **(months) MinimumAnnual Rent /SF(Initial LeasedPremises) Minimum Monthly Rental Installments (Initial Leased Premises) MinimumAnnual Rent /SF(DeferredLeasedPremises) MinimumMonthlyRentalInstallments(DeferredLeasedPremises) Total Monthly Rental Installments Total Period Rental Installments 1 3* $0.00 $0.00# $0.00 $0.00 $0.00 $0.00 4 12 $31.00 $310,527.00# $0.00 $0.00 $310,527.00 $2,794,743.00 13 24 $31.85 $319,066.49# $0.00 $0.00 $319,066.49 $3,828,797.91 25 36 $32.73 $327,840.82# $0.00 $0.00 $327,840.82 $3,934,089.85 37 48 $33.63 $336,856.44 $33.63 $224,570.96 $561,427.41 $6,737,128.87 49 60 $34.55 $346,120.00 $34.55 $230,746.66 $576,866.66 $6,922,399.92 61 72 $35.50 $355,638.30 $35.50 $237,092.20 $592,730.49 $7,112,765.91 73 84 $36.48 $365,418.35 $36.48 $243,612.23 $609,030.58 $7,308,366.98 85 96 $37.48 $375,467.35 $37.48 $250,311.57 $625,778.92 $7,509,347.07 97 108 $38.51 $385,792.71 $38.51 $257,195.14 $642,987.84 $7,715,854.11 109 120 $39.57 $396,402.01 $39.57 $264,268.00 $660,670.01 $7,928,040.10 121 132 $40.66 $407,303.06 $40.66 $271,535.37 $678,838.43 $8,146,061.20 133 144 $41.78 $418,503.89 $41.78 $279,002.60 $697,506.49 $8,370,077.89 145 150 $42.93 $430,012.75^ $42.93 $286,675.17^ $716,687.92^ $4,300,127.51^ * “Months” refer to monthly periods following the Commencement DateThe foregoing rental amounts shall be adjusted, and Minimum Annual Rent for the Initial Leased Premises during the first thirty-six (36) months if necessary, after construction of the Lease Term will be calculated based on sixty percent (60%) Building and verification of the Rentable Area of the entire Leased Premises, regardless of Premises pursuant to Section 1.01 B to reflect $4.67 times the actual Rentable Area of the Initial Leased Premises. # Subject Premises for years 1-3 and $4.90 times the Rentable Area of the Leased Premises for years 4-7; provided, however, in no event shall the Rentable Area of the Leased Premises exceed 120,000 for purposes of calculating the foregoing amounts) F. Landlord’s Share of Expenses: N/A; G. Lease Term: Seven (7) years; H. Target Commencement Date: January 1, 2004, assuming an Execution Date on or before July 9, 2003 and subject to the provisions force majeure events as defined in Section 2.02 below regarding Landlord’s Work 16.04 and Additional Improvements. ^ The amount shown reflects six (6) months. If the Commencement Date is not the first day of a calendar month and the final Month of the Lease Term is automatically extended to include the remaining partial calendar month following the date on which the Lease Term would otherwise expire (pursuant to Tenant Caused Delays as defined in Section 1.01(h) below), Tenant shall pay Minimum Annual Rent relative to such partial calendar month (at the same rate and on a prorated basis) in addition to the amount shown.2.02,; (f) Intentionally omitted.I. Security Deposit: None; J. Guarantor(s): None;

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Fund Xiv Lp)

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