Common use of Commencement Date Clause in Contracts

Commencement Date. The Commencement Date shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 2 contracts

Samples: Office Building Lease (Maxim Pharmaceuticals Inc), Office Lease Agreement (Maxim Pharmaceuticals Inc)

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Commencement Date. The Commencement Date shall be Subject to satisfaction of the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date condition set forth in Section 13 hereof, the Basic Lease Provisionsterm of this Sublease (“Sublease Term”) shall commence on April 1, if for any reason Landlord cannot 2022 (“Commencement Date”), and expire, unless sooner terminated, on October 31, 2030 (“Expiration Date”). If Sublandlord is unable to deliver possession of the Sublease Premises to Tenant Subtenant on said or before any particular date, Landlord for any reason, Sublandlord shall not be subject to any liability thereforfor its failure to do so, nor shall and such failure shall not affect the validity of this Lease or Sublease nor the obligations of Tenant Subtenant hereunder or (subject to Section 12 hereof), but, in such event, the Commencement Date shall be such date that Sublandlord gives Subtenant written notice that (A) Master Landlord has consented to this Sublease in accordance with Section 13 hereof and (B) the Sublease Premises are ready for occupancy. Notwithstanding any provision in the Master Lease granting Sublandlord, as “Tenant,” an option to extend the term hereof; but in such casethereof (including, Tenant without limitation, Section 2.2 of the Master Lease), Subtenant shall not be obligated have no option to pay rent or perform any other obligations of Tenant under extend the terms term of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this LeaseSublease. Within ten (10) days after its receipt of such noticeSublandlord’s request, Landlord Subtenant shall submit execute and deliver to Tenant Sublandlord a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession confirmation of the premises Commencement Date and all other matters set forth therein (and if Subtenant fails to do so, Tenant shall be deemed delivered to Tenant when (1) have executed and returned the improvements same without exception). Such confirmation shall be conclusive and binding upon Sublandlord and Subtenant; provided, however, Sublandlord’s failure to be provided by Landlord under this Lease are substantially completed, (2) deliver any such written confirmation to Subtenant shall not affect Sublandlord’s determination of the Building Utilities are ready for use in the Premises, and (3) Tenant has Commencement Date. Subtenant shall have reasonable early access to the Subleased Premises beginning on the date Sublandlord has vacated the Sublease Premises (but in no event later than February 1, 2022 or earlier than the date Master Landlord consents to this Sublease) (such date the “Early Access Date”) until the Commencement Date (the “Early Access Period”). During such Early Access Period, Subtenant shall not conduct business operations in the Sublease Premises or any portion thereof, but, subject to the terms and conditions of this Sublease, Subtenant may, during such Early Access Period, install its furniture, furnishings and equipment in the Sublease Premises and install its telephone and telecommunication equipment in the Sublease Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy Subtenant’s early access shall be subject to all provisions the terms and conditions of this LeaseSublease, such occupancy shall not change including, without limitation, all insurance and maintenance obligations, except for the termination date, and Tenant shall obligation to pay rent for such occupancyRent.

Appears in 2 contracts

Samples: Sublease (Credo Technology Group Holding LTD), Sublease (Credo Technology Group Holding LTD)

Commencement Date. The Commencement Date shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession Section 4 of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect.follows: 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) For the improvements to be provided by Landlord under this Lease are substantially completedCurrent Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later of the date that the New First Floor Space is Ready for Occupancy or April 1, 2002. However, if the date that the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002, and such delay is solely as a result of Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the Building Utilities are ready New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for use in Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the Premisesdate that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, and such delay is solely as a result of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002. (3) Tenant has reasonable access Lessor or Lessee shall not make any changes to Lessor’s Work during the course of construction without the other party’s prior written approval. Lessor shall be responsible for paying any additional costs resulting from changes requested by Lessor unless Lessee’s approval is obtained in advance. Lessee shall have the right to make changes to the PremisesLessor’s Work, and will be responsible for the cost of such changes, provided that any delay in the date the Premises are Ready for Occupancy as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessor. 2.2.3. If Tenant occupies (4) For the Premises prior Space Pocket, notwithstanding that it is to said Commencement Datebe completed at the same time as the New Second Floor Space, such occupancy Rental shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancycommence as provided in Section 40(b) below.

Appears in 2 contracts

Samples: Commercial Lease (HouseValues, Inc.), Commercial Lease (HouseValues, Inc.)

Commencement Date. The Commencement Date shall be Commencing on the earliest of to occur of: (ai) the date on which Tenant takes possession occupies any portion of the 4th Floor Space or commences business operations upon the Premises or any part thereof 6th Floor Space, as the case may be; ("Lease Commencement Date"); or (bii) the date on which Landlord's the 4th Floor Work or the 6th Floor Work (as described in Section 14 belowdefined herein) is substantially completed Substantially Completed (as determined defined in Exhibit B attached hereto); or (iii) the date on which the 4th Floor Work or the 6th Floor Work, as the case may be, would have been Substantially Completed but for the occurrence of any Tenant Delay Days (as defined in Exhibit B attached hereto) (such dates referred to herein as the “4th Floor Space Commencement Date” or “4FSCD” and the “6th Floor Space Commencement Date” or “6FSCD”), and expiring on the Expansion Space Expiration Date (as defined below), Tenant shall lease the 4th Floor Space as depicted on Exhibit A-l attached hereto and the 6th Floor Space as depicted on Exhibit A-2 attached hereto, all subject to and in accordance with the terms and conditions of the Lease, as amended hereby. As used herein, the “4th Floor Work” and the “6th Floor Work” shall mean and refer to those certain improvements to the 4th Floor Space and the 6th Floor Space, as the case may be, to be performed by Landlord ("Rental Commencement Date")in accordance with the terms of this Amendment and Exhibit B hereto, including the Connecting Stairwell and/or a Light Well, as provided in Exhibit B hereto. The 4th Floor Work and the 6th Floor Work shall be collectively referred to herein as the “Expansion Space Work. 2.2.1. Notwithstanding ” In connection with the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said dateExpansion Space Work, Landlord shall not be subject perform certain improvements to any liability thereforthe Existing Premises, nor shall such failure affect as indicated in the validity Expansion Space Plans (as defined below) approved by the parties. For purposes of this Lease or Amendment, such improvements shall be included in the obligations definition of the Expansion Space Work. Tenant hereunder or extend hereby acknowledges that Landlord will be performing the term hereof; but in such caseExpansion Space Work during the Term (as extended hereby), and Tenant shall not be obligated entitled to pay rent any additional abatement or perform reduction of Rent or any other obligations of Tenant amount payable under the terms Lease in connection therewith, nor shall the Expansion Space Work be deemed an eviction, actual or constructive, of this Lease, except as may be otherwise provided Tenant. Tenant shall at all times cooperate reasonably and in this Lease, until possession good faith in connection with Xxxxxxxx’s prosecution of the Premises is delivered to Tenant. IfExpansion Space Work, howeverincluding, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's optionwithout limitation, by notice in writing to granting Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the PremisesExisting Premises and the Expansion Space and by promptly responding to matters arising in connection with the Expansion Space Work. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 2 contracts

Samples: Office Building Lease (Marqeta, Inc.), Office Building Lease (Marqeta, Inc.)

Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the earliest date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (aand not part of Landlord’s Cap) (i) the date on which Tenant takes possession of or commences business operations upon Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises or any part thereof will be demised, broom clean, and in compliance with Law, ("Lease Commencement Date"); or (bii) the date Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working order, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications to the Building’s HVAC system: the boiler providing heat to the Building will be replaced; the 30 ton RTU providing cooling to the ​ ​ atrium will be replaced; the building management system (BMS) will be upgraded; the filters on which Landlord's Work the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (as described in Section 14 belowtwo have been retrofitted already) is substantially completed as determined by Landlord ("Rental Commencement Date"items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). 2.2.1. Notwithstanding the Scheduled foregoing, the Commencement Date set forth shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in the Basic Lease Provisionsapproving plans, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said dateissuing permits, inspecting work, etc.,, Landlord shall not be subject use commercially reasonable efforts to any liability therefor, nor shall such failure affect Substantially Complete the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements above modifications to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, Building’s HVAC system on or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement DateDecember 1, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy2021.

Appears in 2 contracts

Samples: Lease Agreement (Agile Therapeutics Inc), Lease Agreement (Agile Therapeutics Inc)

Commencement Date. The Commencement Date This Lease Agreement shall be for an initial term of ten (10) years (the earliest “Initial Term”) commencing on the “Commencement Date” (as hereinafter defined). The term “Commencement Date” shall mean the earlier of the date of (ai) Substantial Completion, as hereinafter defined in Section 1.1(b) below, and delivery of an SNDA, as hereinafter defined, pursuant to the terms and conditions set forth in this Lease Agreement or (ii) the occupancy of the Demised Premises and commencement of business operations by Tenant or (iii) the date on which that Substantial Completion would have occurred but for the delay caused or contributed to by any act or neglect of Tenant takes possession or those acting for or under Tenant (including Tenant Change Orders, Tenant Installation Work, Tenant Installation Contractor and Tenant Installation Contracts) (calculated in whole days for the actual number of days of delay), including delays attributable to Tenant’s responses to or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (delivery of plans and specifications as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity Article 2 of this Lease or the obligations Tenant’s selection of special or long lead time items beyond Landlord’s control (provided Landlord notifies Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing of any long lead items and the actual number of days it will take to Landlord receive such items within ten (10) business days thereafterafter Landlord’s initial receipt of plans or specifications including such item, advise and then only to the extent that such delay could not be avoided or reduced by Landlord’s timely ordering of such item, allowing for such long lead time.) (collectively “Tenant Delay”). If Landlord of Tenant's intent desires to cancel this Lease. Within allege that Tenant Delay has occurred, no later than ten (10) business days after its receipt the occurrence of such noticea Tenant Delay, Landlord shall submit deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements subparagraph (iii) hereof, to the Premises up extent any other Force Majeure Event coincides with an event of Tenant Delay, the date that Substantial Completion would have occurred but for such other Force Majeure Event will be extended “day for day” to the date extent of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectother Force Majeure Event. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Digital Lightwave Inc)

Commencement Date. The Commencement Date shall be Term will begin on the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Actual Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord (. The "Rental Actual Commencement Date"). 2.2.1. Notwithstanding " is scheduled to be around the Scheduled Initial Commencement Date set forth in the Basic Lease ProvisionsData Section, if for or unless Landlord is delayed in completing any reason Landlord's "Initial Fit-Out Work" (defined in paragraph 3.04). In the case of any such delay, the Actual Commencement Date shall be the Initial Commencement Date extended to the date on which Landlord cannot deliver tenders possession of the Leased Premises to Tenant, in substantially the condition promised to Tenant on said date, Landlord shall not (for example - as-is & broom clean and/or with substantial completion of Landlord's Initial Fit-Out Work - as may be subject to any liability therefor, nor shall such failure affect the validity set forth in other provisions of this Lease or regarding the obligations condition of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated Leased Premises upon delivery to pay rent or perform any other obligations of Tenant under the terms Tenant). The Actual Commencement Date of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to the following conditions all provisions being satisfied. (1) Landlord shall have performed and made the Leased Premises available to Tenant or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed the work pursuant to the work and drawings to be approved by Tenant pursuant to Exhibit C - Landlord's Initial Fit-Out Work; (3) A Certificate of Occupancy permitting the occupancy by Tenant of the Leased Premises for its permitted use has been issued by the applicable governmental authority; (4) Landlord has provided that all building systems serving the Leased Premises are in good operating condition and (5) Landlord shall obtain and deliver to Tenant an executed Agreement in recordable form executed by the existing Mortgagee granting the subordination and non-disturbance agreement in form and content reasonably similar to the attached. Landlord shall use reasonably diligent efforts and proceed with due diligence to complete the construction of the Building and Leased Premises and obtain a Certificate of Occupancy for the Building and for the Leased Premises by the Initial Commencement Date of around April 15, 1999. In the event that Landlord has not completed the Building and the Leased Premises by June 15, 1999, then Tenant, at its sole option, shall have the right to terminate this Lease, such occupancy shall not change the termination date, Lease and Tenant shall pay rent for such occupancybe released from any further obligation by so notifying Landlord within fifteen (15) days thereafter.

Appears in 1 contract

Samples: Assignment of Lease (Clayton Holdings Inc)

Commencement Date. (a) The term of this Lease and the estate hereby granted (the “Lease Term”) shall commence on (i) August 1, 2007 for the 20th Floor Premises and the 21st Floor Premises (the “20th and 21st Floor Commencement Date”), and (ii) September 1, 2007 for the 19th Floor Premises (the “19th Floor Commencement Date”), provided that the respective Premises shall have been delivered to Tenant on the applicable Commencement Date. The 19th Floor Commencement Date and the 20th and 21st Floor Commencement Date are sometimes each referred to herein as a “Commencement Date” and collectively as the “Commencement Dates”. Landlord shall use reasonable efforts to deliver possession of the applicable Premises to Tenant on the applicable Commencement Date (each an “Original Delivery Date”). If Landlord fails to deliver possession of the applicable Premises on the applicable Commencement Date for any reason beyond Landlord’s reasonable control, Landlord shall use reasonable efforts to deliver possession of the applicable Premises to Tenant as soon thereafter as shall be reasonably possible and such Commencement Date shall be deemed to be the earliest first (1st) day thereafter that actual possession is so delivered (provided that Landlord shall have given Tenant not less than ten (10) Operating Days prior notice of such revised delivery date) and, except as otherwise set forth in Section 3.1(b) through (af) below, the date on which postponement of the applicable Commencement Date shall be Tenant’s sole remedy at law or in equity (Tenant takes possession hereby waiving any right to rescind this Lease and/or to recover any damages for such delay, except as otherwise set forth in Section 3.1(b) through (f) below), but in no event shall the 20th and 21st Floor Commencement Date be later than the 19th Floor Commencement Date. The foregoing is intended to be “an express provision to the contrary” under Section 223-a of or commences business operations upon the Premises New York Real Property Law or any part thereof ("Lease Commencement Date"); or successor statute of similar import. (b) If the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled 19th Floor Commencement Date set forth in shall occur more than thirty (30) days after the Basic Lease Provisions20th and 21st Floor Commencement Date (the “Outside Date”), if which Outside Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the 20th Floor Rent Concession Period (hereinafter defined) and the 21st Floor Rent Concession Period (hereinafter defined) shall be increased by one (1) day for any reason each day beyond the Outside Date that Landlord cannot fails to deliver possession of the Premises 19th Floor Premises. (c) If a Commencement Date shall occur more than thirty (30) but within sixty (60) days (the “First Penalty Period”) after the applicable Original Delivery Date, which Original Delivery Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession portion of the Premises is delivered shall be increased by one-half (1/2) day for each day during the First Penalty Period that Landlord fails to Tenant. If, however, Landlord shall not have delivered deliver possession of such portion of the Premises Premises. (d) If a Commencement Date shall occur more than sixty (60) but within ninety (90) days following said Scheduled Commencement (the “Second Penalty Period”) after the applicable Original Delivery Date, which Original Delivery Date for any reasonshall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing Rent Concession Period applicable to Landlord within ten (10) days thereafter, advise Landlord such portion of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited increased by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when one (1) day for each day during the improvements Second Penalty Period that Landlord fails to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to deliver possession of such portion of the Premises. 2.2.3. (e) If Tenant occupies a Commencement Date shall occur more than ninety (90) but within one hundred twenty (120) days (the “Third Penalty Period”) after the applicable Original Delivery Date, which Original Delivery Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to such portion of the Premises prior to said Commencement Date, such occupancy shall be subject increased by one and one-half (1 1/2) days for each day during the Third Penalty Period that Landlord fails to all provisions deliver possession of this Leasesuch portion of the Premises. (f) If a Commencement Date shall occur more than one hundred twenty (120) days after the applicable Original Delivery Date (the “Fourth Penalty Period”), which Original Delivery Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to such occupancy portion of the Premises shall not change be increased by two (2) days for each day during the termination date, and Tenant shall pay rent for Fourth Penalty Period that Landlord fails to deliver possession of such occupancyportion of the Premises.

Appears in 1 contract

Samples: Lease Agreement (Cowen Group, Inc.)

Commencement Date. The Commencement Date shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1” shall mean May 1, 2021. Notwithstanding the Scheduled Commencement Date set forth foregoing, in the Basic Lease Provisions, if for any reason event that Landlord candoes not deliver possession of the Leased Premises to Tenant in broom clean condition with a temporary occupancy certificate allowing Tenant to occupy the office and biology lab portions of the Leased Premises on said or prior to May 15, 2021 (such date, which shall be extended for Tenant Delays to the extent Tenant’s actions causing such Tenant Delays occur after the Effective Date, the “Estimated Interim Turnover Date”), then Tenant shall be entitled to an abatement of Base Rent equal to the daily Annual Base Rent previously paid for each day in the period beginning on the day following the Estimated Interim Turnover Date and ending on the date that Landlord delivers possession of the Leased Premises to Tenant in broom clean condition with a temporary occupancy certificate allowing Tenant to occupy the office and biology lab portions of the Leased Premises, which abatement shall be in addition to any other abatement, free rent periods or other rental concessions to which Tenant may be entitled under the Lease (as amended hereby). Tenant acknowledges that, following the Commencement Date, Landlord will still be performing work within the Leased Premises during normal business hours to achieve Substantial Completion, and that such work shall not constitute a constructive eviction or otherwise be in violation of the Lease. Landlord shall cause the Landlord’s Work and the Tenant Improvements to be Substantially Complete on or prior to June 15, 2021 (such date, which shall be extended for Tenant Delays to the extent Tenant’s actions causing such Tenant Delays occur after the Effective Date, the “Estimated Final Turnover Date”). In the event that Landlord fails to cause Substantial Completion of the Landlord’s Work and the Tenant Improvements on or prior to the Estimated Final Turnover Date, then Tenant shall be entitled to an abatement of Base Rent equal to the daily Annual Base Rent previously paid for each day in the period beginning on the day following the Estimated Final Turnover Date and ending on the date that the Landlord’s Work and the Tenant Improvements are Substantially Completed, which abatement shall be in addition to any other abatement, free rent periods or other rental concessions to which Tenant may be entitled under the Lease (as amended hereby). Notwithstanding the foregoing, Tenant shall have the right to enter the Leased Premises as of the Effective Date for the purposes of installing cabling, wiring, telephone equipment, fixtures, furniture, and equipment to facilitate Tenant’s move-in and start-up of business operations, so long as any such entry is coordinated with Landlord and Landlord’s contractors and such entry and installations do not unreasonably interfere with the work being performed by Landlord’s workmen or contractors in the Leased Premises. No such entry shall be deemed Tenant’s possession of the Leased Premises, or otherwise affect the occurrence of the Commencement Date. In any such event, the Tenant’s workmen and contractors shall take reasonable steps to minimize interference with any work being simultaneously performed by the Landlord’s workmen or contractors in the Leased Premises. In the event of any unreasonable interference prior to Substantial Completion, Landlord shall not be subject have the right to provide written notice to Tenant of such interference, and Tenant shall cause its workmen and contractors to cease such interference or cease performing such work until Landlord’s workmen and contractors have completed their work. Any such early entry into and occupancy of the Leased Premises by Tenant or any liability therefor, nor shall such failure affect the validity of this Lease person or the obligations entity working for or on behalf of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all of the terms, covenants, conditions and provisions of the Lease, including, without limitation, providing certificate(s) of insurance required under this Lease, such occupancy shall not change excluding only the termination date, and Tenant shall covenant to pay rent for such occupancyRent (defined herein).

Appears in 1 contract

Samples: Lease Agreement (NeuBase Therapeutics, Inc.)

Commencement Date. The "Commencement Date shall Date" will be the earliest earlier to occur of (ai) the date on which Tenant takes possession occupancy of or commences business operations upon the Phase 1 Premises or any part thereof for the purposes of conducting its business, and ("Lease Commencement Date"); or ii) five (b5) days after Landlord has Substantially Completed (as hereinafter defined) the date Tenant Finish Work for the Phase 1 Premises. Landlord shall use all reasonable and good faith efforts to have the Tenant Finish Work with respect to the Phase 1 Premises Substantially Completed on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1or before September 1, 2008. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease ProvisionsSubject to a Tenant Delay or an Excusable Delay, if for any reason Landlord canTenant Finish Work with respect to the Phase 1 Premises is not deliver possession of the Premises to Tenant Substantially Completed on said dateor before September 1, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case2008, Tenant shall be entitled to a one day abatement of Basic Rent with respect to the Phase 1 Premises for each day thereafter that Tenant Finish Work is not be obligated Substantially Completed up to pay rent October 31, 2008. Subject to a Tenant Delay or perform any other obligations of an Excusable Delay, if Tenant under Finish Work with respect to the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Phase 1 Premises is delivered to Tenant. Ifnot Substantially Completed on or before November 1, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid2008, then in either such event addition to the abatement in Basic Rent provided in the immediately preceding sentence, Tenant shall be entitled to a two (2) day abatement of Basic Rent with respect to the Phase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, 2008. Subject to a Tenant Delay or an Excusable Delay, if Tenant's right Finish Work with respect to cancel this Lease hereunder shall terminate and be of no further force the Phase 1 Premises is not Substantially Completed on or effect. 2.2.2. Possession of before January 1, 2009, then in addition to the premises abatement in Basic Rent provided in the two immediately preceding sentences, Tenant shall be deemed delivered entitled to a four (4) day abatement of Basic Rent with respect to the Phase 1 Premises for each day thereafter that Tenant when (1) Finish Work is not Substantially Completed. Any such accrued abated amounts shall be credited against the improvements to be provided by Landlord first and subsequent installments of Basic Rent coming due under this Lease are substantially completedfor Premises until the entire abated amount has been fully credited. Landlord shall use all reasonable and good faith efforts to have the Tenant Finish Work with respect to the Phase 2 Premises Substantially Completed on or before September 1, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 2 Premises is not Substantially Completed on or before September 1, 2009, Tenant shall be entitled to a one day abatement of Basic Rent with respect to the Phase 2 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to October 31, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 2 Premises is not Substantially Completed on or before November 1, 2009, then in addition to the abatement in Basic Rent provided in the immediately preceding sentence, Tenant shall be entitled to a two (2) day abatement of Basic Rent with respect to the Building Utilities are ready Phase 2 Premises for use each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant's Finish Work with respect to the Phase 2 Premises is not Substantially Completed on or before January 1, 2010, then in addition to the abatement in Basic Rent provided in the Premisestwo immediately preceding sentences, and Tenant shall be entitled to a four (34) Tenant has reasonable access day abatement of Basic Rent with respect to the Premises. 2.2.3Phase 2 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed. If Tenant occupies the Premises prior to said Commencement Date, Any such occupancy accrued abated amounts shall be subject credited against the first and subsequent installments of Basic Rent coming due under this Lease for Premises until the entire abated amount has been fully credited. Landlord shall use all reasonable and good faith efforts to all provisions of this Leasehave the Tenant Finish Work with respect to the Phase 3 Premises Substantially Completed on or before September 1, such occupancy shall 2010. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 3 Premises is not change the termination dateSubstantially Completed on or before September 1, and 2010, Tenant shall pay rent be entitled to a one day abatement of Basic Rent with respect to the Phase 3 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to October 31, 2010. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 3 Premises is not Substantially Completed on or before November 1, 2010, then in addition to the abatement in Basic Rent provided in the immediately preceding sentence, Tenant shall be entitled to a two (2) day abatement of Basic Rent with respect to the Phase 3 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, 2010. Subject to a Tenant Delay or an Excusable Delay, if Tenant's Finish Work with respect to the Phase 3 Premises is not Substantially Completed on or before January 1, 2011, then in addition to the abatement in Basic Rent provided in the two immediately preceding sentences, Tenant shall be entitled to a four (4) day abatement of Basic Rent with respect to the Phase 3 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed. Any such occupancyaccrued abated amounts shall be credited against the first and subsequent installments of Basic Rent coming due under this Lease for Premises until the entire abated amount has been fully credited.

Appears in 1 contract

Samples: Lease Agreement (Medicines Co /De)

Commencement Date. (a) The Commencement Date Date” of this Lease shall be established as of the earliest later to occur of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) that is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled the date of Substantial Completion of all of the Improvements, including the Building and Tenant Improvements; or (b) January 1, 2011. Upon the determination of the date of Substantial Completion and the Commencement Date, at either party’s request, Landlord and Tenant shall sign an agreement setting forth the Commencement Date for and the expiration date of the Initial Term; provided, however, that the failure of the parties to do so shall not affect the determination of such dates, nor Landlord’s or Tenant’s respective rights and obligations hereunder from and after the Commencement Date. (b) Landlord shall construct and complete all the Improvements, including the Building and all the Tenant Improvements, in accordance with the Improvements Plans and Specifications and the Tenant Improvements Plans and Specifications and the terms and provisions of the Work Letter. (c) Landlord shall use commercially reasonable efforts to Substantially Complete the Improvements, including the Building and the Tenant Improvements, as follows: the Building, certain of the parking areas (subject to the terms and provisions of Section 43 below) and all Tenant Improvements on the First Floor of the Building shall be Substantially Completed on or before October 1, 2010; all Tenant Improvements on the Second Floor of the Building, together with certain of the parking areas (subject to the terms and provisions of Section 43 below) shall be Substantially Completed on or before October 15, 2010; and all Tenant Improvements on the Third Floor of the Building, together with certain of the parking areas (subject to the terms and provisions of Section 43 below) shall be Substantially Completed on or before November 1, 2010. If Landlord is unable to Substantially Complete all of the Building and other Improvements, including all Tenant Improvement Work on the respective floors in accordance with the above Schedule (each a “Target Completion Date”), and such delay is not due to any reasonact, other than Tenant's Delays omission of Tenant or its agents, representatives, contractors or employees, or to a Tenant Change Order as defined in Section 2.2 of the Work Letter attached hereto (in which event each of the Target Completion Dates shall be adjusted as Exhibit "D," set forth therein), or to any Force Majeure Event (as hereinafter defined at Section 42), or, subject to the terms of Section 2.2(b) above, to the failure of Tenant mayto assign the Option Agreement to Landlord on or before September 30, 2009 as set forth at Section 2.2(e) above (in which event, subject to the limitations set forth at Section 2.2(e) above, each of the Target Completion Dates shall be adjusted as set forth therein), or to the failure of Landlord to acquire the Land pursuant to the Option Agreement on or before September 30, 2009 as set forth at Section 2.2(e) above (in which event, subject to the limitations set forth at Section 2.2(e) above, each of the Target Completion Dates shall be adjusted as set forth therein), Tenant shall: (i) accrue one (1) day of free Rent for each of the first thirty (30) days beyond such Target Completion Date that such Substantial Completion is delayed by Landlord; (ii) accrue two (2) days of free Rent for each of the second successive thirty (30) days beyond the applicable Target Completion Date(s) that such applicable Substantial Completion is delayed by Landlord; (iii) accrue three (3) days of free Rent for each day beyond the sixtieth (60th) day after the applicable Target Completion Date that such applicable Substantial Completion(s) is delayed by Landlord. In the event that Substantial Completion of all the Improvements and all the Tenant Improvements is delayed by Landlord for more than ninety (90) days following the November 1, 2010 Target Completion Date, Tenant shall have the right, upon thirty (30) days additional written notice to Landlord, and as its sole and exclusive remedies as a result of such failure by Landlord, to: (x) terminate this Lease, whereupon neither party shall have any further liability under this Lease except that Landlord shall be liable to Tenant for the value of all free rent accrued to the date of termination of this Lease and Tenant shall have the right, at Tenant's its option, to acquire the Premises (the “Liquidated Damages Purchase Option”) pursuant to the terms set forth in Section 3.2(d) by notice notifying Landlord in writing that Tenant is exercising the Liquidated Damages Purchase Option; or (y) perform any incomplete work to Landlord within ten complete the Building, other Improvements and/or the Tenant Improvement(s), as applicable, on behalf of Landlord. In the event that Tenant elects to perform any such incomplete work pursuant to subsection (10y) days thereafterof this Section 3.2(b), advise Landlord Tenant shall, as of the Commencement Date, be entitled to a credit against Rent in the amount of (A) all reasonable costs and expenses incurred by Tenant as a result of said work and (B) Tenant shall be entitled to free Rent for each day after each applicable Target Completion Date until Substantial Completion of each applicable portion of the Building, Improvements and/or Tenant Improvements; provided that the parties shall, prior to Tenant's intent ’s commencement of any such work, attempt to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant agree in writing upon a statement of budget for any and all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date associated with any such incomplete Base Building Work and Tenant Improvement Work, but failure of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties to so agree shall be discharged not delay or prevent Tenant from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, exercising its remedies hereunder and Landlord shall thereupon return reserve its rights to contest the reasonableness of any money previously deposited by Tenant. If such written notice claim of intent to cancel Tenant for costs incurred by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs to complete the Improvements and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectthe Tenant Improvements. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Griffin Capital Net Lease REIT, Inc.)

Commencement Date. The Commencement Date of the Lease shall be the earliest earlier of (a) the date on which which: (i) Tenant takes possession of or commences business operations upon any portion of the Premises or any part thereof in order to conduct business thereon; ("Lease Commencement Date"ii) the Premises would have been Ready for Occupancy but for Tenant Delays (as defined in the Improvement Agreement attached hereto as Exhibit B); or (biii) the Premises are Ready for Occupancy, but, in the case of (ii) and (iii), in no event before the Estimated Commencement Date. The Premises shall be deemed “Ready” or “Occupancy” on the date on which Landlord's Work of substantial completion (as described in Section 14 belowdefined herein) is substantially completed as determined of all Landlord’s Work to be constructed by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease ProvisionsPremises (but not the Cafeteria and Fitness Center, if for any reason Landlord cannot deliver possession of the Premises to which Tenant on said date, Landlord acknowledges shall not be subject to any liability therefor, nor shall such failure affect substantially completed until after the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this LeaseCommencement Date), except as may be otherwise provided in this Lease, until possession of for punchlist items which do not prevent Tenant from using the Premises is delivered to Tenantfor the Permitted Uses. IfTenant shall, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after receipt of demand, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit C acknowledging the actual Commencement Date of this Lease. For purposes of this Lease, “substantial completion’ shall mean the date by which all of the following have occurred: (i) Landlord has substantially completed the Landlord’s Work (other than the Cafeteria and the Fitness Center) in accordance with Exhibit B of this Lease; (ii) Landlord has delivered possession of the Premises and the Landlord’s Work (other than the Cafeteria and the Fitness Center) to Tenant's receipt thereof, ; and (iii) Landlord shall thereupon return any money previously deposited has obtained a temporary certificate of occupancy from the appropriate governmental authorities required for the legal occupancy of the Premises by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access Notwithstanding anything to the Premises. 2.2.3. If Tenant occupies contrary contained in this Lease, if the Premises prior to said Commencement DateCafeteria and Fitness Center are not Ready for Occupancy by October 1, such occupancy 2002 (which date shall be subject to all provisions extension for Tenant Delays and up to ninety (90) days of this LeaseForce Majeure Delays (as defined in Exhibit B, such occupancy shall for each day thereafter that either the Cafeteria or the Fitness Center are not change the termination dateReady for Occupancy, and Tenant shall pay rent for such occupancyreceive as a credit against Base Rent (as defined in Section 3.1 below) liquidated damages in the amount of Five Hundred Dollars ($500.00) per day.

Appears in 1 contract

Samples: Lease Agreement (Palmsource Inc)

Commencement Date. The Commencement Date Date” of the Lease Term shall be upon Landlord’s Substantial Completion of Landlord’s Improvement Work. As used herein, the earliest term “Substantial Completion” shall mean that the Leased Premises are (i) completed in accordance with the Final Approved Plans and Specifications (which shall be evidenced by the Temporary Certificate of Occupancy, which permits the conduct of Tenant’s Permitted Use or if Tenant is the cause of a Certificate of Occupancy not being issued, the completion of Landlord’s Improvement Work for the Temporary Certificate of Occupancy is confirmed by a Certificate of Substantial Completion provided by the Project Architect); (aii) free from any and all mechanics’ lien claims arising out of all work in connection therewith (other than claims filed as a result of bona fide disputes between Northern Builders and its subcontractors or material suppliers which Northern Builders is diligently contesting and which Landlord indemnifies and holds Tenant harmless from and against any such mechanics’ lien claims); and (iii) sufficiently completed and free from construction defects so that Tenant is able to occupy the date on Leased Premises for the Permitted Use (notwithstanding Punch List Items). “Punch List Items” means uncompleted or improperly completed items of the Landlord Improvement Work or the Leased Premises which in the aggregate do not materially interfere with Tenant’s Permitted Use and occupancy of the Leased Premises for the conduct of the Permitted Use and which Landlord will have completed no later than thirty (30) days after the Commencement Date. Landlord acknowledges that Tenant takes possession of or commences is relocating its business operations upon to the Premises or any part thereof from its current location at 0000 Xxxxxxxx, Xxxxxxxx, Xxxxxxxx ("Lease Commencement Date"“Existing Space”); or (b) , that Tenant’s lease of the date on which Landlord's Work (as described in Section 14 below) Existing Space is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding expiring and that the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot Tenant needs to vacate and deliver possession of the Premises Existing Space as soon as possible. In the event that Tenant fails to deliver possession by the date six (6) weeks following issuance of a building permit by the Village of Lake Bluff (the “Outside Date”), the Tenant on said datewill incur significant damages, including, but not limited to, holdover rent. Accordingly, in the event that the Substantial Completion of Landlord’s Improvement Work is not achieved by the Outside Date, then Tenant shall be entitled to one (1) day abatement of Base Rental for every one (1) day after the Outside Date until Substantial Completion. Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of notify Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety twenty (9020) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up prior to the date of Landlord's receipt of Tenant's notice of intent it anticipates the Improvements will be Substantially Completed. In the event that there is a dispute as to cancel. This Lease shall thereafter be canceledwhether or not the Improvements are Substantially Completed, and the parties dispute shall be discharged from all obligations hereunder, if resolved by the Project Architect who prepared the Approved Plans and only if Tenant reimburses Landlord for all such costs and expenses as stated Specifications. Lessee’s acceptance in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession writing of the premises Improvements shall be deemed delivered conclusively to establish that the Improvements have been Substantially Completed in accordance with the Final Approved Plans and Specifications, except for any Punch List Items noted by Tenant when (1) and latent defects. Notwithstanding the improvements to be provided by foregoing, as promptly as practicable following the date Tenant takes possession, Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancyenter into an appropriate amendment to this Lease to document the Commencement Date and expiration date of the Lease Term of the Lease.

Appears in 1 contract

Samples: Lease of Office Space (Insys Therapeutics, Inc.)

Commencement Date. The Subject to the limitations hereafter set forth, the Commencement Date shall be the earliest last to occur of (ai) that date which is 31 days after August 1, 1994 (such date as it may be extended pursuant to the terms of this Lease being the "Construction Completion Date"), or (ii) the day which is 30 days after the date on which Tenant takes possession of or commences business operations upon the Premises are "ready for occupancy" as provided in Section 4.2. The Tenant shall, upon demand of the Landlord, execute a certificate confirming the Commencement Date as it is determined in accordance with the provisions of this Section 4.1. Landlord shall allow Tenant to enter the Premises on the Substantial Completion Date (as determined by Landlord) for purposes of Tenant setting up its work stations and equipment and performing trial runs of its testing and manufacturing equipment. Notwithstanding that the Commencement Date shall not occur until a subsequent date, Tenant shall, from and after the date of such entry, be bound by the terms, covenants, provisions and agreements contained in the Lease (except the obligation to pay Basic Rent and Taxes) during such period prior to the Commencement Date (said period being the "Early Occupancy Period") including, without limitation the provisions of Article X and Article V. Tenant shall also be responsible for all costs for utilities used and consumed in the Premises during the Early Occupancy Period. Nothing contained herein shall be deemed or construed to mean that Tenant may occupy the Premises for the Permitted Use during the Early Occupancy Period. Any occupancy of all or any part thereof of the Premises by Tenant for the Permitted Uses ("Lease other than the limited purpose of setting up work stations and equipment and performing trial runs on testing and manufacturing equipment) shall result in the Commencement Date"); Date occurring regardless of the condition or (b) the date on which state of completion of Landlord's Work (as described in Section 14 below) is substantially completed as determined by and Tenant shall permit Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth to continue to perform Landlord's Work in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Premises. Tenant shall not be obligated to pay rent or perform interfere in any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenantregard with Landlord's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date completion of Landlord's receipt Work and hereby agrees to be bound by the direction of TenantLandlord's notice contractor or the Construction Manager (as hereafter defined) in the event of intent to cancel. This Lease shall thereafter be canceled, any conflicts between the Landlord's Work and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited work being performed by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Sublease (Genomic Solutions Inc)

Commencement Date. The Notwithstanding the date the Aggregate Improvements for the 10th Floor Space (as described in Paragraph 6 below) are substantially completed by Tenant or the date Tenant receives a TCO or its equivalent for the 10th Floor Space, the Commencement Date for the 10th Floor space shall be the same as the Commencement Date for the remainder of the Premises (excluding the Additional Space) and such Commencement Date shall continue to be determined pursuant to Section 1 (p) of the earliest Lease without any reference or regard to the 10th Floor Space or the status of the Aggregate Improvements therefor, it being acknowledged by Tenant that: (a) the date on which Tenant takes possession 10th Floor Space and the remainder of or commences business operations upon the Premises or any part thereof ("excluding the Additional Space) have previously been delivered by Landlord to Tenant in the condition described on Attachment 1 to the Work Letter Agreement attached to the Lease Commencement Date")as Exhibit C; or (b) the date on which Landlord's Work (as 10th Floor Space is not part of any Package described in Section 14 below1(p) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord canand thus will not deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder delay or extend the term Commencement Date or the Final Period described therein, notwithstanding any subsequently occurring Force Majeure Delays or Landlord Delays which actually delay substantial completion of the Aggregate Improvements for the 10th Floor Space; and (c) Package 4 was deemed delivered pursuant to Section 1(p) of the Lease on March 30, 1990, and thus the Commencement Date for the Premises and 10th Floor Space is scheduled to occur on August 27, 1990, which is 150 days after such deemed delivery date. Notwithstanding subclause (b) above, Landlord agrees that for each day that Tenant is actually delayed beyond the Commencement Date in substantially completing the Aggregate Improvements for the 10th Floor Space as a result of Force Majeure Delays occurring after the date hereof; but in such case, and/or as a result of Landlord Delays occurring after the date hereof for which Tenant has provided Landlord requisite notice and opportunity to cure as set forth on Pages 15 and 16 of Section 1(p), Tenant shall not be obligated entitled to pay rent or perform any other obligations a corresponding abatement of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when one (1) day’s Base Rent otherwise payable for the improvements to 10th Floor Space. Such abatement shall be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access addition to the Premises6-month abatement provided in Paragraph 4(a) below. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)

Commencement Date. The Commencement Date This Lease Agreement shall be for an initial term of ten (10) years (the earliest "Initial Term") commencing on the "Commencement Date" (as hereinafter defined). The term "Commencement Date" shall mean the earlier of the date of (ai) Substantial Completion, as hereinafter defined in Section 1.1(b) below, and delivery of an SNDA, as hereinafter defined, pursuant to the terms and conditions set forth in this Lease Agreement or (ii) the occupancy of the Demised Premises and commencement of business operations by Tenant or (iii) the date on which that Substantial Completion would have occurred but for the delay caused or contributed to by any act or neglect of Tenant takes possession or those acting for or under Tenant (including Tenant Change Orders, Tenant Installation Work, Tenant Installation Contractor and Tenant Installation Contracts) (calculated in whole days for the actual number of days of delay), including delays attributable to Tenant's responses to or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (delivery of plans and specifications as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity Article 2 of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," selection of special or long lead time items beyond Landlord's control (provided Landlord notifies Tenant may, at Tenant's option, by notice in writing of any long lead items and the actual number of days it will take to Landlord receive such items within ten (10) business days thereafterafter Landlord's initial receipt of plans or specifications including such item, advise and then only to the extent that such delay could not be avoided or reduced by Landlord's timely ordering of such item, allowing for such long lead time.) (collectively "Tenant Delay"). If Landlord of Tenant's intent desires to cancel this Lease. Within allege that Tenant Delay has occurred, no later than ten (10) business days after its receipt the occurrence of such noticea Tenant Delay, Landlord shall submit deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements subparagraph (iii) hereof, to the Premises up extent any other Force Majeure Event coincides with an event of Tenant Delay, the date that Substantial Completion would have occurred but for such other Force Majeure Event will be extended "day for day" to the date extent of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectother Force Majeure Event. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Digital Lightwave Inc)

Commencement Date. The Commencement Date shall be Term will begin on the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Actual Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord (. The "Rental Actual Commencement Date"). 2.2.1. Notwithstanding " is scheduled to be around the Scheduled Initial Commencement Date set forth in the Basic Lease ProvisionsData Section, if for or unless Landlord is delayed in completing any reason Landlord's "Initial Fit-Out Work" (defined in paragraph 3.04). In the case of any such delay, the Actual Commencement Date shall be the Initial Commencement Date extended to the date on which Landlord cannot deliver tenders possession of the Leased Premises to Tenant, in substantially the condition promised to Tenant on said date, Landlord shall not (for example - as-is & broom clean and/or with substantial completion of Landlord's Initial Fit-Out Work - as may be subject to any liability therefor, nor shall such failure affect the validity set forth in other provisions of this Lease or regarding the obligations condition of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated Leased Premises upon delivery to pay rent or perform any other obligations of Tenant under the terms Tenant). The Actual Commencement Date of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to the following conditions all provisions being satisfied. (1) Landlord shall have performed and made the Leased Premises available to Tenant or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed the work pursuant to the work and drawings to be approved by Tenant pursuant to Exhibit C - Landlord's Initial Fit-Out Work; (3) A Certificate of this LeaseOccupancy permitting the occupancy by Tenant of the Leased Premises for its permitted use has been issued by the applicable governmental authority; (4) Landlord has provided that all building systems serving the Leased Premises are in good operating condition and (5) Landlord shall obtain and deliver to Tenant an executed Agreement in recordable form executed by the existing Mortgagee granting the subordination and non-disturbance agreement in form and content reasonably similar to the attached. Landlord shall use reasonably diligent efforts and proceed with due diligence to complete the construction of the Building and Leased Premises and obtain a Certificate of Occupancy for the Building and for the Leased Premises by the Initial Commencement Date of around December 20, such occupancy 2002. In the event that Landlord has not completed the Landlord's Initial Fit-Out Work by January 31, 2003, Tenant, at its sole option, shall not change have the right to terminate the Lease and be released from any further obligations by notifying Landlord within 15 days thereafter. This termination dateright is subject to Exhibit C, and Tenant shall pay rent for such occupancyspecifically regarding Tenant's obligation to deliver Landlord approved Initial Fit-Out Plans.

Appears in 1 contract

Samples: Commercial Lease (Clayton Holdings Inc)

Commencement Date. The date of commencement for the Additional Space (the "Additional Space Commencement Date Date") shall be the earliest date of (a) the date on which Tenant takes possession substantial completion of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (Work, as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth hereinafter defined, in the Basic Lease ProvisionsAdditional Space, if for any reason Landlord cannot deliver possession of the Premises which is projected to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety three (903) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of months from Landlord's receipt of Tenant's notice final approved Working Drawings, as hereinafter defined, or such earlier date as Tenant takes possession or commences use of intent to cancelthe Additional Space for any purpose other than construction. This Lease shall thereafter be canceled, The Additional Space Commencement Date and the parties commencement of rental payment hereunder shall not be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord extended or delayed for all such costs and expenses as stated in any period of time that substantial completion of Landlord's notice within ten Work and the delivery of possession of the Additional Space is delayed beyond that date which is three (103) days after Tenantmonths from Landlord's receipt thereofof final approved Working Drawings, and Landlord shall thereupon return as hereinafter defined, by any money previously deposited reason of: (i) special work, changes, alterations or additions required or made by Tenant in the Additional Space; (ii) delays and/or default on the part of Tenant in submitting on a timely basis any plans and/or specifications, supplying information, approving plans, specifications or estimates, or giving authorizations required hereunder or otherwise for the completion of Landlord's Work; and/or (iii) delays otherwise caused in whole or in part by Tenant. If However, in no event shall the Additional Space Commencement Date and the commencement of rental payment hereunder be later than July 1, 2000. The foregoing notwithstanding, if the Additional Space shall not be substantially complete and the Tenant shall not have taken possession or commenced use of the Additional Space on or before the date which shall be one hundred fifty (150) days from the date Landlord commences construction of Landlord's Work as herein defined, as such written notice date may be extended by the number of intent days, if any, of any (i) Tenant Delays, as herein defined; (ii) Force Majeure delays; and/or (iii) any other delays pursuant to cancel by this Section, then Tenant shall receive a credit at the next monthly rent payment date equal to ninety five dollars ($95) for each business day the Commencement Date is not timely received by delayed beyond such one hundred fifty (150) day period, as such may be extended. "Force Majeure" means, with respect to the occurrence of a specified date or event, any and all events beyond the reasonable control of Landlord, including, without limitation, strikes, lockouts, acts of God, enemy actions, civil commotion or Tenant's reimbursement for such costs war, casualties and expenses is not timely received by Landlordgovernmental actions, as aforesaidbut excluding lack of funds, which events delay the occurrence of the specified date or event in question. If the Additional Space Commencement Date occurs on any day other that the first day of a month, then the Basic Rent will be pro-rated on a daily basis (i.e., annual rental divided by 365 days, or 366 days in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2a leap year). Possession As of the premises Additional Space Commencement Date, the Additional Space shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies a part of the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this demised under the Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Bisys Group Inc)

Commencement Date. (a) The Commencement Date term of this Lease shall be the earliest period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) the date on which Tenant takes possession of or commences opening for business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) six (6) months after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the six (as described in Section 14 below6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially completed as determined complete. If Tenant's building is not complete by Landlord ("Rental the Rent Commencement Date"). 2.2.1. Notwithstanding , Tenant shall commence paying rent and all other charges subject to the Scheduled Commencement Date set forth in provisions of this Section 3.1 (a) and the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of failure to have the Premises to Tenant on said date, Landlord building completed shall not be subject to any liability thereforan Event of Default, nor shall such failure affect unless the validity of this Lease or Tenant's building is not completed by the obligations of Tenant hereunder or extend date provided in Section 3.3(a) below, (b) Upon the term hereof; but in such caseRent Commencement Date, the Tenant shall not (i) be obligated to pay commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent or and (ii) be required to perform any other all obligations of required to be performed by the Tenant under the terms of this Lease, except the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date).  (c) As soon as may be otherwise provided in this Lease, until possession of convenient after the Premises is delivered to Tenant. If, howeverRent Commencement Date has been determined, Landlord shall not have delivered possession and Tenant agree to join with each other in the execution of a Commencement Certificate, in the Premises within ninety (90) days following said Scheduled form set forth on Exhibit "C". The Rent Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord and specified term of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancyCertificate.

Appears in 1 contract

Samples: Lease Agreement (Embassy Bancorp, Inc.)

Commencement Date. (a) Subject to Tenant's performance of its obligations hereunder, including, without limitation, its payment of the sums payable to Landlord under this Article 3, Landlord, on behalf of Tenant, shall cause the Initial Leasehold Improvements to be "substantially completed" (as defined below) in accordance with the Approved Plans and possession of the Premises to be delivered to Tenant on or before the date reasonably established by Landlord and announced to Tenant in writing as provided in Section 3.01(d) above (such date, the "Occupancy Date", currently estimated to be during November 1999), subject, however, to the effect of Section 3.03 hereof. The term of this Lease and the obligations of the parties hereto shall commence on a date (hereinafter referred to as the "Commencement Date Date") which shall be the earliest sooner of (a) the date on which Tenant takes possession commences operation of or commences its business operations upon the Premises in all or any part thereof ("Lease Commencement Date")portion of the Premises; or (b) the date that the Initial Leasehold Improvements have been "substantially completed". (b) For purposes of this Article 3, the Initial Leasehold Improvements shall be deemed substantially completed when the Architect certifies to Landlord and Tenant in writing that: (i) the Initial Leasehold Improvements have been completed in accordance with the Approved Plans, subject only to normal punchlist items; and (ii) Landlord, on which behalf of Tenant, has obtained a temporary certificate of occupancy from the Town of Wilton permitting the lawful use and occupancy of the Premises for the purposes specified in this Lease. Landlord shall cause such general contractor or subcontractors to complete any outstanding punchlist items reasonably promptly following the Commencement Date. (c) Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot obligation to deliver possession of the Premises to Tenant with the Leasehold Improvements substantially completed on said dateor before the Occupancy Date shall be extended by the number of days of delay resulting from any "Force Majeure Delay," "Tenant Delay" (as such terms are defined in Section 3.03) or Landlord delay, subject to the operation of Section 3.03. (d) Landlord agrees to provide Tenant with its estimate of the projected date for the Commencement Date approximately thirty (30) days prior to the Commencement Date (but such notice shall not be subject to any liability therefor, nor shall such failure affect a condition for establishing the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy).

Appears in 1 contract

Samples: Lease Agreement (Startech Environmental Corp)

Commencement Date. The Commencement Date shall be the earliest of (a) As herein used, the date on which phrase “commencement date” shall mean the earlier of: (i) the day Tenant takes possession of or commences opens for business operations upon in the Premises or any part thereof ("Lease Commencement Date"); demised premises or (bii) the date on which Landlord's Work one hundred fifty (as described in Section 14 below150) is substantially completed as determined by days after Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver has delivered possession of the Premises demised premises to Tenant in the condition required by the terms of Section 3(b) of this Lease (the “Required Condition”). Landlord agrees to deliver the demised premises to Tenant in the Required Condition within thirty (30) days after the Effective Date (the “Delivery Date”). If Landlord does not deliver the demised premises to Tenant as required herein within three (3) days after the Delivery Date, Tenant may terminate this Lease or defer delivery until January 2, 2007. If Tenant defers delivery and Landlord does not thereafter deliver the demised premises to Tenant on said dateor before January 2, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case2007, Tenant may terminate this Lease. In the event that the demised premises are not delivered to Tenant in the Required Condition on or before the Delivery Date, the minimum rent due hereunder shall not be obligated adjusted so that, after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to pay one (1) day of minimum rent or perform any other obligations for each day after the Delivery Date until delivery of the demised premises is made to Tenant under consistent with the terms of this Lease, except as may be otherwise provided . Time is of the essence regarding all dates set forth in this LeaseSection 3. (b) Possession of the demised premises shall not be deemed to have been given to Tenant until Landlord has, until at its sole cost and expense, delivered actual possession of the Premises premises to Tenant (i) in a water-tight, structurally sound condition, (ii) free of all Hazardous Substances, except those to be removed/abated by Tenant as set forth in Section 3(e) below, (iii) with a new roof, roof decking and roof system for the entire Building and (iv) free of any violation of laws, ordinances, regulations and building restrictions (collectively, the “Required Condition”). All work performed by Landlord to put the demised premises in the Required Condition and all Tenant’s Work shall be performed in compliance with all applicable federal, state and local laws, rules, regulations and code requirements. (c) Subject to the provisions of Section 53 hereof, Tenant shall, at its sole cost and expense, (i) promptly after the demised premises has been delivered to Tenant in the Required Condition, commence performance of the work described on Exhibit “C”, attached hereto and made a part hereof (“Tenant’s Work”) and (ii) within one hundred fifty (150) days after such delivery, cause Tenant’s Work to be completed. Landlord represents that all approvals of the Master Landlord required under the Master Lease have been obtained and that all building and other governmental permits necessary to perform Tenant’s Work can be obtained in the ordinary course of business from the applicable governmental authority. In the event that Master Landlord takes any action, or fails to take any necessary action, and as a result, necessary approvals/permits for the performance of Tenant’s Work cannot be obtained, or additional costs are incurred as a result thereof, or in the event that necessary governmental permits and approvals for Tenant’s Work cannot be obtained, Tenant shall have the right to terminate this Lease by written notice to Landlord, in which event Tenant shall have no further liability hereunder and Landlord shall reimburse Tenant for all costs incurred by Tenant in connection therewith. Tenant’s Work shall be performed lien free by Tenant, in a good and workmanlike manner (employing materials of good quality) in compliance with all governmental requirements. In the event a mechanic’s lien is filed against the demised premises or the Shopping Center on account of Tenant’s Work, Tenant shall discharge or bond off same within thirty (30) days from the filing thereof. If Tenant fails to discharge said lien, Landlord may bond off or pay same without inquiring into the validity or merits of such lien, and all sums so advanced shall be paid on demand by Tenant as additional rent. Prior to the date on which possession of the demised premises is delivered to Tenant as aforesaid, Tenant shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, provided that it does not unreasonably interfere with Landlord’s efforts to put the demised premises in the Required Condition. (d) From the date upon which the demised premises are delivered to Tenant for its work or such earlier time that Tenant enters the demised premises to prepare for its occupancy until the commencement date of the lease term, Tenant shall observe and perform all of its obligations under this Lease (except Tenant. If’s obligation to operate and pay minimum rent, however, Landlord shall not have delivered percentage rent and additional rent.) In the event Tenant fails to open for business within one hundred eighty (180) days after the date possession of the Premises within ninety demised premises has been delivered to Tenant, Landlord, in addition to any and all other available remedies, may require Tenant to pay to Landlord, in addition to all other rent and charges herein, as liquidated damages and not as a penalty, an amount equal to one day’s minimum rent for each day such failure to open continues. (90e) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined The parties acknowledge that asbestos is present in the Work Letter premises, as revealed in that certain Pre-Demolition Asbestos Survey Report more fully described in Section 43(b) hereof. Based thereon, Tenant has entered into a contract for the abatement of asbestos at the premises, as more fully set forth on Exhibit C-1, attached hereto hereto. At such time as Exhibit "D," Tenant mayis invoiced for such Report and/or for such abatement work, at Tenant's option, by notice in writing Tenant shall submits copies thereof to Landlord and Landlord shall pay to Tenant the amount of such invoice(s) within ten (10) days thereafter. Such payments by Landlord shall be in addition to payment of the Tenant Allowance as set forth in Section 58 hereof. Notwithstanding anything to the contrary contained herein, advise including Section 36 hereof, in the event Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt does not timely pay the amount of such noticeinvoice(s) to Tenant, (a) Landlord shall submit pay to Tenant a statement of all costs interest on such unpaid amounts at eighteen percent (18%) per annum and expenses incurred or irrevocably committed by Landlord for non-standard improvements (b) Tenant shall have the right to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, deduct any and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs amounts owed Tenant against all minimum rent and expenses all percentage rental (but no other additional rent components) thereafter due Landlord until such time as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession has been credited the full amount of the premises shall be deemed delivered to Tenant when (1invoice(s) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premisesplus applicable interest. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (DSW Inc.)

Commencement Date. The Commencement Date of the Lease shall be the earliest earlier of (a) the date on which which: (i) Tenant takes possession of or commences business operations upon any portion of the Premises or any part thereof in order to conduct business thereon; ("Lease Commencement Date"ii) the Premises would have been Ready for Occupancy but for Tenant Delays (as defined in the Improvement Agreement attached hereto as Exhibit B); or (biii) the Premises are Ready for Occupancy, but, in the case of (ii) and (iii), in no event before the Estimated Commencement Date. The Premises shall be deemed “Ready for Occupancy” on the date on which Landlord's Work of substantial completion (as described in Section 14 belowdefined herein) is substantially completed as determined of all Landlord’s Work to be constructed by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease ProvisionsPremises (but not the Cafeteria and Fitness Center, if for any reason Landlord cannot deliver possession of the Premises to which Tenant on said date, Landlord acknowledges shall not be subject to any liability therefor, nor shall such failure affect substantially completed until after the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this LeaseCommencement Date), except as may be otherwise provided in this Lease, until possession of for punchlist items which do not prevent Tenant from using the Premises is delivered to Tenantfor the Permitted Uses. IfTenant shall, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after receipt of demand, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit C acknowledging the actual Commencement Date of this Lease. For purposes of this Lease, “substantial completion’ shall mean the date by which all of the following have occurred: (i) Landlord has substantially completed the Landlord’s Work (other than the Cafeteria and the Fitness Center) in accordance with Exhibit B of this Lease; (ii) Landlord has delivered possession of the Premises and the Landlord’s Work (other than the Cafeteria and the Fitness Center) to Tenant's receipt thereof, ; and (iii) Landlord shall thereupon return any money previously deposited has obtained a temporary certificate of occupancy from the appropriate governmental authorities required for the legal occupancy of the Premises by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access Notwithstanding anything to the Premises. 2.2.3. If Tenant occupies contrary contained in this Lease, if the Premises prior to said Commencement DateCafeteria and Fitness Center are not Ready for Occupancy by October 1, such occupancy 2002 (which date shall be subject to all provisions extension for Tenant Delays and up to ninety (90) days of this LeaseForce Majeure Delays (as defined in Exhibit B), such occupancy shall for each day thereafter that either the Cafeteria or the Fitness Center are not change the termination dateReady for Occupancy, and Tenant shall pay rent for such occupancyreceive as a credit against Base Rent (as defined in Section 3.1 below) liquidated damages in the amount of Five Hundred Dollars ($500.00) per day.

Appears in 1 contract

Samples: Lease Agreement (Palm Inc)

Commencement Date. Landlord and Tenant shall use their best ----------------- efforts to complete the Building and the Initial Tenant Improvements in accordance with Exhibit B hereto on the date specified in Section 1(f) or as soon thereafter as practicable. The "Commencement Date" shall mean the date that the initial portion of the Premises described in Exhibit C, Section 2 (the "Initial Premises") are substantially completed and made available for Tenant's occupancy. It is presently estimated that the term of this Lease shall commence on July 1, 2000. The determination of the Commencement Date with respect to the Initial Premises shall depend on which contractor is selected to construct the Initial Tenant Improvements. If Tenant selects Landlord's shell and core contractor ("Landlord's Contractor"), Landlord shall cause the Commencement Date to occur by July 1, 2000. If Landlord's Contractor is the low bidder for construction of the Initial Tenant Improvements, in accordance with the terms of Exhibit B, but Tenant chooses another contractor, the Commencement Date shall be deemed to occur on the date that it otherwise would have occurred had Landlord's Contractor been chosen to construct the Initial Tenant Improvements. If Landlord's Contractor is not the low bidder and Tenant selects the contractor that is the low bidder, Landlord shall cause the Commencement Date to occur by September 1, 2000. All of the foregoing dates are subject to the delay provisions contained in Section 3(d) below. The contractor so selected to construct the Tenant Improvements shall be hereinafter referred to as the "Tenant Improvement Contractor." The Commencement Date with respect to the Initial Premises shall be deemed to occur on (A) the later of(I) the completion date specified in the notice ("30 Day Notice") delivered to Tenant at least thirty (30) days prior to the date that the Initial Premises will be completed for occupancy or (II) the date the entirety of the Initial Premises is in fact delivered to Tenant with all of Landlord's Work and the Initial Tenant Improvements substantially completed, or (B) such earlier date as Landlord would have been able to so deliver the entire Premises to Tenant but for Tenant Delay (defined below). Subject to Tenant Delay or other causes beyond Landlord's control, Landlord shall use its best efforts to deliver the Premises to Tenant no later than the completion date specified in the 30 Day Notice. Notwithstanding the foregoing, the Commencement Date shall be deemed to have occurred with respect to the Initial Premises on the date Tenant first occupies the Initial Premises for normal business operations, if such date is earlier than the dates described above, provided that so long as Tenant is not in occupancy of the Initial Premises the Commencement Date shall not occur earlier than July 1, 2000. The Commencement Date shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject deemed to any liability therefor, nor occur until the following conditions shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received been satisfied by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.:

Appears in 1 contract

Samples: Lease Agreement (Visio Corp)

Commencement Date. The Commencement Date terms and provisions of this Lease shall be the earliest effective as of (a) the date of this Lease. The term of this Lease (the "Term") shall be for the duration set forth in Section 1.3 hereof and shall commence on which Tenant takes possession the date set forth in Section 1.3.2 of or commences business operations upon this Lease (the Premises or any part thereof ("Lease Commencement Date"); or (b) and shall terminate on the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity Section 1.3.3 of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such caseLease, Tenant shall not be obligated unless sooner terminated pursuant to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in . For purposes of this Lease, until possession the term "Lease Year" shall mean each consecutive twelve (12) month period during the Term. Notwithstanding the definition of the Commencement Date for the Premises set forth in Section 1.3.2, above, Tenant shall have the right to commence business operations from any portion of the Premises is delivered to Tenant. If(such space, however, Landlord shall not have delivered possession of the Premises within ninety (90"Pre- Occupancy Space") days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in during the Work Letter attached hereto as Exhibit "DPre-Occupancy Period," as that term is defined below, provided that (i) Tenant may, shall give Landlord at Tenant's option, by notice in writing to Landlord within least ten (10) days thereafterprior notice of any such use of the Premises, advise Landlord and (ii) a certificate of occupancy or its equivalent permitting occupancy shall have been issued by the appropriate governmental authorities for the Pre- Occupancy Space. If Tenant does commence business operations from any Pre- Occupancy Space prior to the occurrence of the Lease Commencement Date, all of the terms and conditions of this Lease shall apply to that portion of the Premises containing the Pre-Occupancy Space, except that Tenant shall have no obligation to pay Basic Rent or Tenant's intent to cancel this LeaseShare of Expenses during the period commencing on the date Tenant commences business operations from the applicable Pre-Occupancy Space and continuing until the Lease Commencement Date (the "Pre-Occupancy Period"). Within ten (10) days after its receipt Following Tenant's possession of such noticethe Premises, Landlord Tenant shall submit confirm the Commencement Date upon Landlord's delivery to Tenant a statement of all costs an instrument in the form set forth on Exhibit B attached hereto. Tenant shall execute and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all return such costs and expenses as stated in Landlord's notice instrument within ten (10) days after written request from Landlord. This Lease shall be a binding contractual agreement effective upon the date of execution hereof by both Landlord and Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession notwithstanding the later commencement of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the PremisesTerm. 4. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Office Lease (Activision Inc /Ny)

Commencement Date. (Section 3.1): The Commencement Date shall be the earliest of earlier to occur of: (ai) the date on upon which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work Substantial Completion (as described in Section 14 belowherein defined) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety Improvements (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Tenant Work Letter attached hereto as Exhibit B (the "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10Work Letter")) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use has occurred in the entire Premises, and (3ii) August 1, 2012 (which August 1, 2012 will be extended by one (1) day for each day Tenant has reasonable access is actually delayed in designing, permitting and constructing the Improvements as a result of an event of Force Majeure (as defined in Section 25.25 hereof) and/or a Landlord Delay (as defined in Section 3.5 of the Tenant Work Letter), but no such extension will continue beyond the date upon which Tenant actually begins to the Premises. 2.2.3. If Tenant occupies conduct its business in the Premises prior to said for the permitted use set forth in Section 1.17 of this Lease. For purposes of determining the Commencement Date, such "Substantial Completion" of the Improvements in the Premises shall occur upon completion of the following: (i) a final certificate of occupancy shall be subject (or its equivalent) has been obtained from the City of Farmers Branch, Texas, and (ii) substantial completion of construction of the Improvements in the Premises in substantial conformance with the Approved Working Drawings (as defined in Section 3.4 of the Tenant Work Letter) has occurred. Notwithstanding the foregoing or anything to all provisions of the contrary contained in this Lease, Landlord and Tenant hereby acknowledge and agree that Tenant will at Tenant's sole election construct the Improvements in the Premises pursuant to a phased construction schedule and in connection with such phased construction, Tenant shall have the right to commence business from portions of the Premises (the "Early Occupancy Space") during the period (the "Early Occupancy Period") from date of substantial completion of the Improvements (if any) relating to such Early Occupancy Space until the Commencement Date, provided that (a) a temporary certificate of occupancy (or its equivalent or other governmental action (e.g,. a final sign-off by the Building Inspector for the portion of the Improvements) shall not change have been issued by the termination dateappropriate governmental authorities for the Early Occupancy Space (or portion thereof), and Tenant (ii) all of the terms and conditions of this Lease shall apply, including Tenant's obligation to pay rent separately for such occupancyreserved parking fees pursuant to the Parking Addendum attached as Exhibit C to this Lease, during the Early Occupancy Period (if any), except that Tenant's obligation to pay monthly Base Rent shall be proportionately reduced to equal an amount equal to the monthly installment of annual rate per rentable square foot (i.e., $1.83) times the rentable area (based upon the BOMA Standard) within the Early Occupancy Space (as the same may exist from time to time during the Early Occupancy Period) as mutually and reasonably agreed upon in good faith by Landlord and Tenant.

Appears in 1 contract

Samples: Office Lease (Copart Inc)

Commencement Date. The (a) As used in this Lease, "Commencement Date" shall mean the ----------------- earlier of (i) the first date of use or occupancy of all or any portion of the Initial Leased Premises by Tenant for the purpose of conducting its business, or (ii) the Completion Date (defined below) for the Initial Leased Premises provided that the Completion Date shall be accelerated by the earliest number of (a) days the date on which achievement of the Completion Date is delayed as the result of Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1Delays. Notwithstanding anything to the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such casecontrary contained herein, Tenant shall not be obligated permitted to pay rent occupy the Initial Leased Premises prior to the date of Substantial Completion of the Tenant Improvements if Landlord determines in its sole discretion that such occupancy may cause undue interference or perform any other obligations delay in the completion of the Tenant under Improvements. As used in this Exhibit C-1, "Completion Date" with respect to ----------- --------------- the terms Initial Leased Premises shall mean the date on which there is Substantial Completion of the Tenant Improvements for the Initial Leased Premises as described in Paragraph 2(e) of this LeaseExhibit C-1. Landlord and Tenant estimate ----------- that the Completion Date will be February 1, except as may 1999; however in no event shall such estimate be otherwise provided binding on Landlord or Tenant. As used in this Exhibit C-1, "Tenant Delay," shall mean the ----------- ------------ number of days that the occurrence or achievement of the particular event or date identified in this Lease, until possession including without limitation the Completion Date, is delayed as a result of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90i) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as failure to meet the dates established in this Exhibit C-1, (ii) Long Lead Time Items (defined in below), (iii) any changes ----------- to the Work Letter attached hereto as Exhibit "D," Tenant mayImprovements requested to be made by Tenant (and approved by Landlord), at (iv) Tenant's optionfailure to sufficiently respond to Landlord's inquiries pursuant to Paragraph 1(c), (v) any breach by notice in writing to Landlord within ten (10) days thereafter, advise Landlord Tenant of Tenant's intent to cancel its obligations under this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit including without limitation, the failure to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceledcomply with this Exhibit C-1, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10vi) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel other delays caused by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs engineers, ----------- architects (including Tenant Architect), consultants, employees, agents, contractors and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectsubcontractors. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Entrust Technologies Inc)

Commencement Date. The Commencement Date term of this Lease shall be the earliest of for ninety-six (a96) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof months ("Lease Term"), unless sooner terminated as hereinafter provided. The Lease Term shall commence on January 1, 2003 (the "Scheduled Commencement Date"); provided, however, that if either the first or (b) second floors of the date on which Landlord's Work Premises are not Substantially Complete (as described in Section 14 belowhereinafter defined) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth Date, and such a delay is due solely to a Landlord Delay (as defined in the Basic Work Letter), or Force Majeure (as defined in Article 52), the Commencement Date of the Lease Provisions, if shall be extended on a day for any reason Landlord cannot deliver possession day basis for each day of such a delay. In the event the Tenant Improvements (as defined in the Work Letter) on either the first or second floors of the Premises are Substantially Complete prior to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such caseScheduled Commencement Date, Tenant shall not be obligated have the right to pay rent or perform any other obligations early occupancy of Tenant under such floor of the Premises, subject to all the terms and conditions of this Lease, except for Tenant's obligation to pay Rent (as may defined below). Tenant hereby acknowledges and agrees that the installation of the elevator and the demising of the lobby of the Premises shall be otherwise provided in this completed by Tenant, at Landlord's cost and expense, pursuant to the terms of the Work Letter; provided, however, that the completion of such work shall not be a condition to the commencement of the Lease. The first and second floors of the Premises shall be deemed to be "Substantially Complete" with respect to such floor on the earliest of the date on which: (1) Landlord or Tenant files or causes to be filed with the City of Milpitas (the "City"), until possession if required, an architect's notice of substantial completion, with respect to such floor of the Premises, or similar written notice that such floor of the Premises is delivered to Tenant. Ifsubstantially complete, however, Landlord shall not have delivered possession (2) Tenant first occupies such floor of the Premises within ninety for the operation of Tenant's business, or (903) days following said Scheduled a certificate of occupancy (or a reasonably substantial equivalent such as a signoff from a building inspector or a temporary certificate of occupancy) is issued for such floor of the Premises. 1.1.1 The date that the Lease commences in accordance with this Article 1 shall be referred to herein as the "Commencement Date." 1.1.2 On and after the Commencement Date, the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. As soon as the Commencement Date for any reasonis determined, other than Tenant's Delays as defined Tenant shall execute a Commencement Date Memorandum in the Work Letter form attached hereto as Exhibit "D," Tenant mayF acknowledging, at Tenant's optionamong other things, by notice in writing to Landlord within ten the (10a) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions (b) scheduled termination date of this Lease, such occupancy Lease and (c) Tenant's acceptance of the Premises. The Tenant's failure to execute the Commencement Date Memorandum shall not change affect Tenant's liability hereunder. 1.1.3 Reference in this Lease to a "Lease Year" shall mean each successive twelve month period commencing with the termination date, and Tenant shall pay rent for such occupancyCommencement Date.

Appears in 1 contract

Samples: Lease (Xicor Inc)

Commencement Date. The Notwithstanding anything to the contrary contained in the Lease, the Commencement Date shall be the earliest of date which is thirty-eight (a38) days prior to the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which substantial completion of Landlord's Work (other than the "punchlist" items as described set forth in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"1.6 of Exhibit D to the Lease). 2.2.1. Notwithstanding For purposes of determining the Scheduled Commencement Date as set forth in the Basic Lease Provisionsimmediately preceding sentence, if the date of substantial completion of Landlord's Work shall be deemed to be the date that substantial completion of Landlord's Work would have occurred but for any reason Landlord cannot deliver possession of Tenant Delay that occurs after the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity date of this Lease or First Amendment (i.e., for each day of such Tenant Delay the obligations date of substantial completion of Landlord's Work shall be moved forward by one (1) day and specifically excluding any claim of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up Delay arising prior to the date of this First Amendment pursuant to the releases provided in Section 4 of this First Amendment below). Landlord shall provide written notice to Tenant promptly upon the occurrence of substantial completion of Landlord's Work as set forth above (the "Landlord's Work Completion Notice") and upon receipt of such Landlord's Work Completion Notice, the Parties' shall promptly schedule and perform a walk-through inspection of Landlord's Work in the Premises to identify any "punchlist" items all in accordance with and pursuant to Section 1.6 of Exhibit D to the Lease. All Basic Rental and Xxxxxx's Proportionate Share of the Estimate of the Direct Costs for the period commencing on the Commencement Date through the last day of the first (1st) full month following the Commencement Date (less any amounts of Basic Rental and Direct Costs already received by Landlord including pursuant to Article 1(J) of the Lease) shall be due and payable by Tenant to Landlord within five (5) business days after Xxxxxx's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectWork Completion Notice. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Crinetics Pharmaceuticals, Inc.)

Commencement Date. (a) The Commencement Date shall be targeted for the earliest of date set forth in Section 2.03 hereof, but shall be the earlier of: (ai) the date on which the Tenant Work is substantially completed and Tenant can take occupancy of the Demised Premises; or (ii) the day on which Landlord obtains a Certificate of Occupancy (temporary or final) or other form of governmental approval permitting Tenant's occupancy of the Demised Premises; or (iii) the day on which Tenant takes possession occupancy of the Demised Premises; provided that Landlord is not unreasonably delayed in the completion of Tenant Work due to Tenant's Work Changes to the Plans and Specifications, Additional Work requests or commences business operations upon Tenant's delays in giving necessary approvals, in which case the Commencement Date will be accelerated by the number of any such days of delay. Landlord shall inform Tenant of the anticipated dates on which it expects to install the carpet in the Demised Premises or any part thereof so that Tenant may install its furniture (the "Lease Commencement Carpet Install Date"); , and substantially complete the Tenant Work and/or receive a Certificate of Occupancy (temporary or final). Notwithstanding the foregoing, Tenant may elect to delay its occupancy of the Demised Premises for the purpose of conducting its normal business operations, and thus delay the Commencement Date as follows: (i) In the event the Carpet Install Date is prior to May 20, 2005 and the Commencement Date would have otherwise occurred prior to June 1, 2005, Tenant may elect to delay taking occupancy of the Demised Premises (but may install its furniture and equipment), and thus delay the Commencement Date to the date Tenant takes occupancy of the Demised Premises, but in no event later than June 1, 2005; (ii) In the event the Carpet Install Date is later than May 20, 2005 but prior to June 1, 2005, Tenant may elect to delay taking occupancy of the Demised Premises (but may install its furniture and equipment), and thus delay the Commencement Date to the date Tenant takes occupancy of the Demised Premises, but in no event later than July 1, 2005 provided that Tenant is obligated to pay, and does pay, Holdover Rent (as defined in Section 4.02 (b) below) for the month of June 2005; and (iii) In the event the Commencement Date would have otherwise occurred later than June 1, 2005 but prior to July 1, 2005, Tenant may elect to delay taking occupancy of the Demised Premises (but may install its furniture and equipment), and thus delay the Commencement Date to the date on which Landlord's Work Tenant takes occupancy of the Demised Premises, but in no event later than July 1, 2005, provided that Tenant is obligated to pay, and does pay, Holdover Rent (as described defined in Section 14 4.02 (b) below) is for the month of June. (b) In the event Landlord does not substantially completed as determined complete the Tenant Work or obtain a Certificate of Occupancy (or other form of governmental approval permitting Tenant's occupancy of the Demised Premises) by Landlord no later than July 1, 2005 (the "Rental Commencement Outside Completion Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if which date shall be extended on a day-for-day basis for any reason Landlord can(1) each day of "Force Majeure," as defined herein, or (2) for each day of delay caused by Tenant as described above or (3) for each day of delay attributable to governmental officials providing approvals, and as a result, Tenant can not deliver possession take occupancy of the Demised Premises for the purpose of conducting its normal business operations, provided such delay is not attributable to Tenant on said dateLandlord's delay, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, then Tenant shall not be entitled to additional Base Rent credits as follows: For each day beyond the Outside Completion Date that Tenant is obligated to pay a holdover rent or perform any other obligations payment above the rent otherwise due under its current lease at 00-00 Xxxxxxx Xxxxx, Fairlawn, New Jersey, which Tenant represents the holdover payment to be a maximum of $22,128 per month (the "Holdover Rent"), then Landlord agrees to absorb the Holdover Rent and will provide Tenant under with a per diem rent credit not to exceed $737.60 per day, subject to Landlord's receipt of paid rent substantiating the terms Holdover Rent (for example, if the Outside Completion Date is not met by 5 days, but Tenant is obligated to pay a full month's rent plus the Holdover Rent of this Lease$22,128, except as may be otherwise provided in this Leasethen Landlord will provide for Base rent credits of $22,128; however, until possession if Tenant is only obligated to pay 5 days of holdover rent, then Landlord will provide Base Rent credits of $3,688). (c) After the commencement of the Premises is delivered to Tenant. If, howeverTerm, Landlord and Tenant shall not have delivered possession of promptly execute, acknowledge and deliver to each other the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter Memorandum attached hereto as Exhibit "D," Tenant mayG, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs which confirms the actual Commencement and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession Expiration Dates of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the PremisesLease. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Cover All Technologies Inc)

Commencement Date. This Lease shall be effective and in full force upon execution by the parties hereto. The Lease Term begins and the first Rent is due on the "Commencement Date Date" which shall be the earliest of earlier of: (ai) one hundred twenty (120) days after written notice to Tenant by Landlord in accordance with this Lease that Landlord's Work is substantially complete in accordance with the Handbook (as hereinafter defined) and the Premises are available to Tenant ready for Tenant's Work, or (ii) the date on which Tenant takes possession opens for business in the Premises; however, Tenant shall otherwise comply with the terms hereof as of or commences business operations upon the date the Premises or any part thereof are available to Tenant ready for Tenant's Work and Tenant covenants and agrees to commence Tenant's Work within thirty ("Lease Commencement Date"); or (b30) days after Landlord gives such notice to Tenant that the date on which LandlordPremises are available to Tenant for Tenant's Work (as described in Section 14 below) is substantially completed as determined but not prior to receipt by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession Tenant of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord approval of Tenant's intent Working Drawings as provided in the Handbook). Tenant's failure to cancel this Lease. Within ten commence the Tenant's Work by the date which is thirty (1030) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt notice to Tenant as set forth in clause (i) of this subsection 1.1(i), Tenant's cessation of the Tenant's Work for a period in excess of thirty (30) days after commencement thereof, or Tenant's failure to open for business by the date which is sixty (60) days after the Commencement Date shall, upon the occurrence of any of such events, constitute a default for which Tenant shall receive written notice from Landlord and thirty (30) days within which to cure such default and no other or further notice and cure period shall be applicable (notwithstanding any other provision of intent this Lease to cancelthe contrary); provided further, however, Tenant agrees that Tenant shall cooperate with Landlord to effect a joint opening of the Shopping Center, and in connection therewith, Landlord shall give notice to Tenant of the "Grand Opening Date" of the Shopping Center on the date upon which the Premises are delivered by Landlord to Tenant and, if such Grand Opening Date shall be a date subsequent to the date set forth in clause (i) of this subsection (i.e., later than the date which is 120 days after the date the Premises are delivered to Tenant), Tenant shall delay the opening of its business from the date Tenant otherwise would have been ready to open for business or required to open for business under the provisions of this subsection, and Tenant shall open for business on such Grand Opening Date designated by Landlord, and such Grand Opening Date in such circumstances shall be the Commencement Date under this Lease (including for the purposes of commencement of payment of Rent); provided further, however, in the event the date set for the Grand Opening Date is later than the date which is one hundred twenty (120) days after the date upon which the Premises are delivered by Landlord to Tenant, Tenant shall be permitted to delay commencement of the Tenant's Work, at Tenant's sole option, to the date which is one hundred twenty (120) days prior to the scheduled Grand Opening Date. Landlord shall not be responsible or liable to Tenant or those claiming by, through or under Tenant for loss or damage caused by or resulting from a delayed Commencement Date and opening for business by reason of Landlord's efforts to effect a joint opening of the Shopping Center. In no event shall Tenant open for business before Landlord opens the Shopping Center to the public. This Lease shall thereafter be canceled, and automatically terminate in the parties shall be discharged from all obligations hereunder, if and only if event the Premises are not available to Tenant reimburses Landlord ready for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereofWork within three (3) years after the date of this Lease. In the event Landlord fails to so deliver the Premises and this Lease is terminated, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel reimburse Tenant for the actual, reasonable costs incurred by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel connection with the preparation of this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access not to the Premises. 2.2.3exceed $100,000.00. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, Landlord and Tenant shall pay rent for such occupancyagree to execute that certain "Delivery of Possession Date Certificate" and "Opening and Termination Date Declaration" included in the Handbook of Tenant Information.

Appears in 1 contract

Samples: Lease (Harrys Farmers Market Inc)

Commencement Date. The Term of this Lease shall commence ("Commencement Date shall be Date") on the earliest first day of (a) the first full month following the date on which Tenant takes possession the Improvements are Substantially Complete (as hereinafter defined) except that if Substantial Completion occurs on the first day of or commences business operations upon a month, that date shall be the Premises or any part thereof ("Lease Commencement Date, and the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. The Improvements shall be deemed to be "); or (b) Substantially Complete" on the earliest of the date on which Landlordwhich: (1) Landlord files or causes to be filed with the City of El Segundo (if required) and delivers to Tenant an architect's Work notice of substantial completion, or similar written notice that the Improvements are substantially complete and a certificate of occupancy (or a reasonably substantial equivalent such as described a sign- off from a building inspector or a temporary certificate of occupancy) (the "C of O") is issued for the Improvements or (2) Tenant commences substantial business operations in the Premises. On the Commencement Date, Tenant shall execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit D acknowledging (i) the Commencement Date, (ii) the final rentable square footage of the Improvements, (iii) the final square footage of the Land, (iv) the initial "Base Rent," as that term is defined in Section 14 3.1.1, below, and (v) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1Tenant's acceptance of the Premises. Notwithstanding If the Scheduled Improvements are not Substantially Complete on the Estimated Commencement Date set forth as extended by "Force Majeure Delay" and "Tenant Delay," as those terms are defined in the Basic Work Letter, then this Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said dateshall remain in effect, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceledliability, and the parties Commencement Date shall be discharged from all obligations hereunderdelayed until the date the Improvements are Substantially Complete. Notwithstanding anything to the contrary contained herein, if and only if Tenant reimburses Landlord for all such costs and expenses as stated there is any delay in Landlord's notice within ten (10) days after Tenant's receipt thereofthe Substantial Completion of the Improvements or in the occurrence of any of the other conditions precedent to the Commencement Date, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice delay is a result of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaidDelay, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession regardless of the premises actual date of Substantial Completion of the Improvements, the Commencement Date shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completedthe date the Commencement Date would have occurred if no Tenant Delay had occurred, (2) as determined in accordance with Section 12 of the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the PremisesWork Letter. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Infonet Services Corp)

Commencement Date. The Commencement Date shall be the earliest of (a) As herein used, the date on which phrase "commencement date" shall mean the earlier of: (i) the day Tenant takes opens for business in the demised premises, or (ii) ninety (90) days after Landlord has delivered to Tenant possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the demised premises to Tenant with Landlord's work completed between November 15, 2003 and December 15, 2003 (the "Delivery Period"). Landlord shall give Tenant notice no later than October 15, 2003 (the "Final Delivery Notice") of a firm delivery date on (the "Final Delivery Date") upon which date the Landlord's Work (as described in Section 14 below) is shall be substantially completed as determined by and the Leased Premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. The Final Delivery Date shall not be earlier than ("Rental Commencement Date"). 2.2.1i) thirty (30) days after the date Tenant receives the Final Delivery Notice, or (ii) the first day of the Delivery Period. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason If Landlord candoes not deliver possession of the Premises demised premises to Tenant as required herein by December 15, 2003, Tenant may defer delivery until February 1, 2004. If Landlord does not deliver the demised premises to Tenant thereafter on or before April 15, 2004, Tenant may terminate this Lease or defer delivery until June 1, 2004. In the event that the demised premises and Landlord's Work are not substantially completed and delivered to Tenant on said dateor before the Final Delivery Date, the minimum rent due hereunder shall be adjusted so that, after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord shall not be subject equal to any liability therefor, nor shall such failure affect one (1) day of minimum rent for each day after the validity Final Delivery Date until delivery of the demised premises is made to Tenant consistent with the terms of this Lease or Lease, including substantial completion of the obligations of Tenant hereunder or extend the term hereof; but in such case, Landlord's Work. Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until accept possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements demised premises prior to the Premises up to the date later of (a) substantial completion of Landlord's receipt Work, (b) the first day of Tenant's notice the Delivery Period and (c) the Final Delivery Date. Time is of intent to cancelthe essence regarding all dates set forth in this Section 3(a). This Lease Landlord shall thereafter be canceled, and obtain a certificate of occupancy for the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses demised premises as stated in part of Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectWork. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Retail Ventures Inc)

Commencement Date. The Commencement Date Term (defined below) and Tenant’s obligation to pay Rent shall commence on the date that is the day Tenant takes actual possession, which date will be the earliest of no more than ten (a10) business days after the date on which the Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Improvement Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter Letter) has been Substantially Completed (as defined below) (the “Commencement Date. Landlord shall cause the Tenant Improvement Work to be completed pursuant to the work letter attached hereto as Exhibit "D," C (the “Work Letter”), and shall use best efforts to cause the completion of the Final Plans and the Tenant mayImprovement Work to be done in a timely manner, as contemplated in the Work Letter, including, without limitation, Substantial Completion of the Tenant Improvement Work within eight weeks of the completion of the Final Plans (as defined in the Work Letter). “Substantially Complete” or “Substantial Completion” or “Substantially Completed” mean the date that the Parties agree in writing that the Tenant Improvement Work is all but complete, except that final permits may not have been signed by the city, whereby Tenant may take possession and use the Premises as contemplated herein. If, at any time after the Parties agree that the Tenant Improvement Work is Substantially Complete and the date that the final permits are signed by the city, Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord ’s use of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to is encumbered in any manner that prevents Tenant from the date normal operation of Landlord's receipt its business within the Premises as contemplated herein as a result of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received work performed by Landlord, its agents, employees or contractors, Tenant shall be entitled to an equitable abatement of Rent during such period until such time when the Premises are suitable for Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2unimpeded use. Possession During the first twelve (12) months of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions Term of this Lease, such occupancy shall not change Landlord shall, at Landlord's sole cost and expense, repair any defects in the termination date, and construction of the Tenant shall pay rent for such occupancyImprovement Work.

Appears in 1 contract

Samples: Lease Agreement (PDF Solutions Inc)

Commencement Date. The Commencement Date shall "TARGET COMMENCEMENT DATE" is June 1, 2000. The "COMMENCEMENT DATE" of this Lease will be the earliest of (a) the date on which: (i) the Landlord certifies to Tenant that the Base Building is substantially complete; and (ii) Landlord certifies to Tenant that the "Tenant Improvements" (as hereinafter defined) are substantially complete; and (iii) the City has issued a certificate of occupancy for the Premises; provided that if the Commencement Date is delayed by reason of delays caused by the Tenant (a "TENANT DELAY"), including, but not limited to, the failure of Tenant to timely deliver construction drawings to Landlord for the Tenant Improvements, then the Commencement Date will be deemed to occur on the Target Commencement Date. The Term will commence on the Commencement Date. The "RENT COMMENCEMENT DATE" will be the date which is thirty (30) days after the Commencement Date. Tenant's obligation to pay Minimum Annual Rent and Annual Real Estate Taxes and Operating Expenses will commence on the Rent Commencement Date. Upon request, the Tenant takes possession will execute a memorandum confirming the Commencement Date in the form of or commences business operations attached EXHIBIT "B". 24 If the Commencement Date has not occurred by June 1, 2000, as that date is adjusted by reason of "Excused Delay" as defined below, then Landlord shall provide a credit against Minimum Annual Rent first coming due hereunder in an amount equal to $44,271.00 (being one month's Base Rent and Additional Rent payable by Tenant to its current landlord). If the Commencement Date has not occurred by July 1, 2000, as that date is adjusted by reason of Excused Delay, then Landlord shall provide a credit against Minimum Annual Rent first coming due hereunder in an amount equal to an additional $44,271.00. If the Commencement Date has not occurred by August 1, 2000, as that date is adjusted by reason of Excused Delay, then Landlord shall provide a credit against Minimum Annual Rent first coming due hereunder in an amount equal to an additional $44,271.00, for a maximum rent credit by reason of the foregoing three sentences of $132,813.00. Tenant shall use its best efforts to negotiate a per day holdover at the current Rent. The Landlord will pay the actual amount paid by Tenant to its current landlord, not to exceed the maximum rent credit described above. The rent credit described in this paragraph has been agreed upon as liquidated damages by reason of Landlord's failure to deliver the Premises or any part thereof ("Lease by the Target Commencement Date, and Landlord will have no obligation to pay other damages, direct, indirect, special or consequential by reason of this Lease. If the Commencement Date has not occurred by September 1, 2000, as that date is extended for Excused Delay, then either party may terminate this Lease by giving written notice of termination to the other, provided, however, that Tenant shall not have a right to terminate this Lease to the extent the delay in achieving the Commencement Date is due to a Tenant Delay. If the Commencement Date has not occurred by October 1, 2000, as that date is extended for Tenant Delay (but not for other Excused Delays) (the "Completion Deadline"); or (b) , then either party may terminate this Lease by giving written notice of termination to the date on which other, provided, however, that Tenant shall not have a right to terminate this Lease to the extent the delay in achieving the Commencement Date is due to a Tenant Delay. In the event that a casualty occurs prior to the Commencement Date, and if, because of the casualty Landlord, in Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisionsreasonable judgement, if for any reason Landlord canwill not deliver possession of be able to cause the Premises to Tenant be substantially completed and the Commencement Date to occur on said dateor before the Completion Deadline, then Landlord shall not be subject so notice Tenant and either Landlord or Tenant shall have the right to any liability therefor, nor shall such failure affect the validity of terminate this Lease or by giving written notice to the obligations of Tenant hereunder or extend the term hereofother within 10 days following Landlord's notice; but in such case, Tenant shall not be obligated if neither party so elects to pay rent or perform any other obligations of Tenant under the terms of so terminate this Lease, except as may be otherwise provided in this Lease, until possession of then Landlord will proceed with the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, construction and the parties Completion Deadline shall be discharged extended by the delay resulting from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectthe casualty. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Plato Learning Inc)

Commencement Date. The term of this Lease (“Term”) shall be sixty (60) months commencing on the Commencement Date (as defined below), unless sooner terminated and subject to any extensions granted hereunder. The “Commencement Date” of this Lease shall be the earliest earlier of (ai) substantial completion of the Tenant Improvements (as defined below) and the Additional Work (as defined below), and (ii) the date on which that Tenant takes possession commences occupancy and use of or commences the Premises for the purpose of conducting Tenant’s business operations upon therein (the commencement of such occupancy and use shall be deemed to constitute “possession” for purposes of this Lease and Tenant shall not be deemed to be “in possession” of the Premises or any part thereof prior to the commencement of such occupancy and use). For purposes of this Lease, the date of “substantial completion” of the Tenant Improvements and Additional Work shall be the date that all of the following has occurred: ("Lease Commencement Date"); or (bi) the Tenant Improvements and Additional Work are complete except for minor items of adjustment or repair of the type commonly found on an architect’s punchlist which would not materially interfere with Tenant’s use and enjoyment of the Premises for their intended purpose; (ii) the City of Sunnyvale has approved the Tenant Improvements and Additional Work in accordance with its building code, evidenced by its completion of a final inspection and written approval of such improvements as so completed in accordance with the building permit(s) issued for the Tenant Improvements and/or Additional Work. If the Commencement Date is other than the first day of a calendar month and/or if the expiration date on which Landlord's Work of this Lease is other than the last day of a calendar month, Rent (as described in Section 14 defined below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding shall be prorated for the Scheduled month in which the Commencement Date set forth in or expiration date, as applicable, occurs on the Basic Lease Provisions, if for any reason Landlord cannot deliver basis of the number of days that Tenant had possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall during such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectcalendar month. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Silicon Graphics Inc)

Commencement Date. The term of this Lease (“Lease Term”) shall be for the period specified in Paragraph 1.5 above, commencing on the date set forth in Paragraph 1.6 (“Commencement Date”); provided, however, the Commencement Date shall be delayed until such time as the Interior Work is Substantially Completed (as defined below) and at least three (3) weeks have elapsed in the Early Access Period (as defined below). (a) The Interior Work shall be deemed to be “Substantially Completed” upon the occurrence of the earliest of the following: (ai) The date on which all improvements to be constructed by Landlord have been substantially completed except for punch list items which do not prevent Tenant from using the Premises for its intended use, and the appropriate governmental approvals for occupancy of the Premises have been issued; or (ii) the date on which all improvements to be constructed by Landlord would have been substantially completed except for such work as Landlord is required to perform but which is delayed because of any of the following (each, a “Tenant takes possession Delay”): (A) delays in Tenant’s architect completing the Preliminary Interior Improvement Plans or the Final Interior Improvement Plans; (B) fault or neglect of Tenant, acts of Tenant or commences business operations upon Tenant’s agents (including without limitation delays caused by work done on the Premises by Tenant or any part thereof ("Lease Commencement Date"Tenant’s agents or by acts of Tenant’s contractors or subcontractors); (C) delays caused by change orders requested by Tenant or required because of any errors or omissions in plans submitted by Tenant; and (bD) such work as Landlord is required to perform but cannot complete until Tenant performs necessary portions of construction work it has elected or is required to do; provided, however, Tenant Delays shall not include any delays caused by Landlord or Landlord’s architect or contractor in performing work relating to the Exterior Work; or (iii) the date on which Landlord's Work (as described Tenant opens for business in Section 14 below) the Premises. If the Commencement Date is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding a date other than the Scheduled Commencement date set forth in Paragraph 1.6, then the Ending Date set forth in Paragraph 1.7, the Basic Lease Provisionsrental adjustment dates set forth in Paragraph 1.8 and any other certain dates specified herein shall be adjusted accordingly. When the Commencement Date, if for any reason Ending Date, rental adjustment dates, and such other dates become ascertainable, Landlord cannot deliver possession and Tenant shall specify the same in writing, in the form of the Premises attached Exhibit C, which writing shall be deemed incorporated herein. Tenant’s failure to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect execute and deliver the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord C within ten thirty (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (1030) days after its receipt of such noticeTenant receives written request from Landlord to do so (subject to any legitimate disagreement by Tenant with the terms thereof, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the which both parties shall use reasonable efforts to resolve) shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel a Default by Tenant is not timely received by Landlord, hereunder. The expiration of the Lease Term or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel sooner termination of this Lease hereunder shall terminate and be of no further force or effectis referred to herein as the “Lease Termination. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Net Lease Agreement (Trident Microsystems Inc)

Commencement Date. The Term of this Lease shall commence on the Commencement Date and, unless sooner terminated or extended as hereinafter provided, shall be end on the earliest of (a) the date on which Tenant takes Expiration Date. If Landlord does not tender possession of the Additional Second Floor Space or commences business operations upon the Premises Additional Third Floor Space to Tenant on or before any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisionsspecified date, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said datewhatsoever, Landlord shall not be subject to liable for any liability therefordamage thereby caused, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated void or voidable thereby, and the Term shall not commence until Landlord tenders possession of the Additional Second Floor Space or the Additional Third Floor Space, as applicable, to pay rent Tenant. Landlord shall be deemed to have tendered possession of the Additional Second Floor Space or perform the Additional Third Floor Space, as applicable, to Tenant upon the giving of notice by Landlord to Tenant stating that such space is vacant, in the condition required by this Lease and available for Tenant's occupancy. No failure to tender possession of the Additional Second Floor Space or the Additional Third Floor Space to Tenant on or before any specified date shall affect any other obligations of Tenant under hereunder. There shall be no postponement of the terms Additional Second Floor Space or the Additional Third Floor Space (or the corresponding Rent Commencement Date with respect to the Additional Second Floor Space or the Additional Third Floor Space, as applicable) for (i) any delay in the tender of this Leasepossession to Tenant which results from any Tenant Delay or (ii) any delays by Landlord in the performance of any Punch List Items related to the Additional Second Floor Space Improvements or the Additional Third Floor Space Improvements (as each such term is defined in Rider R1-B), except as may be otherwise provided applicable (Tenant shall have available to it the remedy described below in this LeaseSection 2.2 in the case of any such delay by Landlord in performing any Punch List Items). Once the Additional Second Floor Space and the Additional Third Floor Space Commencement Date are determined, until possession Landlord and Tenant shall execute an agreement stating the Additional Second Floor Space Commencement Date, the Additional Third Floor Space Commencement Date, the respective Rent Commencement Dates and the Expiration Date, but the failure to do so will not affect the determination of such dates. If Landlord fails to perform and complete any Punch List Items within 30 days after the creation of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession list of the Premises within ninety (90) Punch List Items and such failure continues for more than 30 days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," after notice by Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such noticefailure, or if such failure is of a nature that it cannot be completely remedied within 30 days, failure by Landlord shall submit to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to completely remedy such failure within 90 days, Tenant a statement of all may perform and complete such Punch List Items at Landlord's expense. All costs and expenses reasonably incurred or irrevocably committed by Tenant in connection with any such performance and completion by Tenant shall be paid by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant within 30 days after Landlord receives an invoice therefor from Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties which shall be discharged from all obligations hereunder, if accompanied by true and only if Tenant reimburses Landlord complete copies of invoices and other reasonable support for all such the costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectinvoiced. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Philadelphia Consolidated Holding Corp)

Commencement Date. The Commencement Date shall be the earliest last to occur of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions[February 15, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease 2000] or the obligations of Tenant hereunder or extend day following the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms Substantial Completion Date. For purposes of this Lease, the Substantial Date shall be (i) the first day as of which Lessor's Work has been completed except for items of work (and, if applicable, adjustment of equipment and fixtures) which can be completed after occupancy has been taken without causing undue interference with Lessee's use of the premises (i.e. so-called "punch list" items), (ii) Lessee has been given notice thereof, and, (iii) Lessee has been afforded an opportunity to walk through the building to inspect Lessor's Work and has received certification from Lessor's architect that Lessor's Work has been completed in accordance with the plans and specifications referenced on Exhibit B attached hereto and the Base Building requirements referenced on Exhibit C attached hereto. (iv) LESSOR has secured a Certificate of Occupancy for and on behalf of LESSEE. Further to the extent that the Certificate of Occupancy is withheld for any of LESSEE's work as shown on Exhibit B, LESSOR shall be deemed to have satisfied this provision. Regardless of the requirements set forth in (i) - (iv) above, LESSEE recognizes that certain work to be performed by LESSOR, as identified as LESSOR's Work herein or otherwise, will require certain cooperation by LESSEE. In addition, LESSEE acknowledges and agrees that it is performing certain work, identified as LESSEE's Work and as more fully set forth on Exhibit B hereto. In cooperating with LESSOR's Work and performing LESSEE's Work hereunder, LESSEE agrees to promptly and diligently perform all of its obligations in a commercially reasonable manner, and to take any and all steps as may be otherwise provided necessary to ensure that LESSEE's failure to perform the same does not in this Leaseany way interfere with LESSOR's ability to complete LESSOR's Work hereunder or to obtain the Certificate of Occupancy. In the event that LESSEE fails to perform hereunder, until possession any and all delays caused as a result thereof, shall automatically provide LESSOR with an extension of the Premises is delivered Construction Deadline and any and all deadlines hereunder this Lease for a duration equal to TenantLESSEE's delay. IfWhere LESSEE's default hereunder results in delays to LESSOR's ability to substantially complete LESSOR's Work, howeveror, Landlord to obtain the Certificate of Occupancy, the Substantial Completion Date shall be deemed to be five (5) business days from the date that LESSOR could have satisfied subparagraph (i) above had LESSEE not have delivered possession defaulted hereunder. In addition, LESSEE's failure to perform hereunder, in a prompt and diligent manner, shall also constitute a material default under the terms and conditions of the Premises within ninety (90) days following said Scheduled Lease. Lessor shall complete as soon as conditions permit all "punch list" items, and Lessee shall afford Lessor access to the premises for such purposes. Promptly upon the occurrence of the Commencement Date for any reasonDate, other than Tenant's Delays as defined Lessor and Lessee shall execute a letter substantially in the Work Letter form attached hereto as Exhibit D, but the failure by either party to execute such a letter shall have no effect on the Commencement Date, as hereinabove determined. If the Substantial Completion Date has not occurred by February 15, 2001 (the "D," Tenant mayConstruction Deadline"), at Tenant's option, Lessee shall have the right to terminate this Lease by giving notice in writing to Landlord within ten Lessor not later than thirty (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (1030) days after its receipt the Construction Deadline of Lessee's election so to do, and Lessor shall have 30 days to cure such default. Failing which, this Lease shall cease and come to an end without further liability or obligation on the part of either parting after the giving of such notice, Landlord shall submit except Lessor's obligation to Tenant a statement immediately rebate in full any security deposit delivered to Lessor by Lessee as provided for herein. Such right of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties termination shall be discharged from all obligations hereunder, if Lessee's sole and only if Tenant reimburses Landlord exclusive remedy at law or in equity for all Lessor's failure so to complete such costs and expenses as stated in LandlordLessor's notice within ten (10) days after Tenant's receipt thereof, and Landlord Work on or before the Construction Deadline. The Construction Deadline shall thereupon return automatically be extended for the period of any money previously deposited delays caused by Tenant. If such written notice of intent to cancel Force Majeure or for any delay caused by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectLessee. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Commercial Lease (NxStage Medical, Inc.)

Commencement Date. (a) The Commencement Date shall be targeted for the earliest of date set forth in Section 2.03 hereof, but shall be the earlier of: (ai) the date on which the 3rd Floor Tenant takes possession Improvement Work (as defined in Exhibit C) is substantially completed and Tenant can take occupancy of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date")Demised Premises; or (ii) the day on which Landlord obtains a Certificate of Occupancy (temporary or final) or other form of governmental approval permitting Tenant’s occupancy of the 3rd Floor Premises; or (iii) the day on which Tenant takes occupancy of any portion of the Demised Premises; provided that Landlord is not unreasonably delayed in the completion of 3rd Floor Tenant Improvement Work due to Tenant’s Work Changes to the Plans and Specifications, Additional Work requests or Tenant’s delays in giving necessary approvals, in which case the Commencement Date will be accelerated by the number of any such days of delay. Landlord shall inform Tenant of the anticipated date on which it expects to substantially complete the 3rd Floor Tenant Improvement Work and/or receive a Certificate of Occupancy (temporary or final). (b) After the commencement of the Term, Landlord and Tenant shall promptly execute, acknowledge and deliver to each other the Commencement Date Memorandum attached hereto as Exhibit G, which confirms the actual Commencement and Expiration Dates of the Lease. (c) The Expansion Space Effective Date shall be the earlier of: (i) the date on which Landlord's the Expansion Space Tenant Improvement Work (as described defined in Section 14 belowExhibit C) is substantially completed as determined and Tenant can take occupancy of the Expansion Space; or (ii) the day on which Landlord obtains a Certificate of Occupancy (temporary or final if required) or other form of governmental approval permitting Tenant’s occupancy of the Expansion Space; or (iii) the day on which Tenant takes occupancy of any portion of the Expansion Space; provided that Landlord is not unreasonably delayed in the completion of Expansion Space Tenant Improvement Work due to Tenant’s Work Changes to the Plans and Specifications, Additional Work requests or Tenant’s delays in giving necessary approvals, in which case the Expansion Space Effective Date will be accelerated by the number of any such days of delay. Landlord shall inform Tenant of the anticipated date on which it expects to substantially complete the Expansion Space Tenant Improvement Work and/or receive a Certificate of Occupancy ("Rental Commencement Date"temporary or final). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Sco Group Inc)

Commencement Date. The Landlord covenants to use commercially reasonable efforts to cause substantial completion of (i) the Shell Improvements and delivery of the Premises to Tenant for purposes of Tenant's construction of the Tenant Improvements in accordance with the Work Letter on or before April 1, 2001, and (ii) substantial completion of the Base Building Improvements on or before July 1, 2001. If Landlord fails to meet either or both of the foregoing dates due to default on the part of Landlord (as determined in accordance with Article 26 below) or as a result of the occurrence of events of force majeure as described in Article 41 below, then as Tenant's sole remedies for the delay in Tenant's taking possession of the Premises or the completion of the Base Building Improvements, (a) Tenant shall be entitled to one (1) day of free Rent in the Premises for each day that Landlord fails to timely deliver the Shell Improvements and/or the Base Building Improvements as required herein (the "Free Rent Period"); (b) the Rent Commencement Date shall be delayed for the earliest period of delay in substantial completion of the Shell Improvements and/or delivery of the Premises, as applicable, resulting from Landlord's default and for the duration of the Free Rent Period; and (ac) the Expiration Date of the Lease Term shall likewise be extended; provided, that in the event that substantial completion of the Shell Improvements and delivery of the Premises and/or substantial completion of the Base Building Improvements has not occurred on or before January 1, 2002 due to default on the part of Landlord (determined in accordance with Article 26 below) or as a result of the occurrence of events of force majeure as described in Article 41 below, then Tenant shall have the right to terminate this Lease upon ten (10) days' prior written notice to Landlord. The date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver actually delivers possession of the Premises to Tenant on said date, Landlord shall not be subject in accordance with the foregoing is referred to any liability therefor, nor shall such failure affect herein as the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy."

Appears in 1 contract

Samples: Lease Agreement (Frontier Airlines Inc /Co/)

Commencement Date. The term of this lease (the “Term”) shall commence on the date (herein referred to as “Commencement Date Date”) which shall be the earliest earlier of (ai) the date on which Tenant takes possession occupies the Demised Premises for the conduct of or commences their business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (bii) the date when the Demised Premises shall be deemed substantially complete. The Lease shall expire on the latest to occur of (i) May 31, 2029 or (ii) or 120 Months from the 14th Floor Premises CD as provided for in paragraph 48.02 or (iii) the last day of the 120th calendar month after the month in which the Commencement Date occurs (provided that if the Commencement Date is the first day of a month, this Lease shall expire on the last day of the 120th calendar month of the Term) , unless sooner terminated or extended as provided herein (“Expiration Date”). The Demised Premises shall be deemed “substantially complete” on the date that Landlord's Work ’s Initial Improvements (as described hereinafter defined) in Section 14 below) is the Demised Premises shall have been substantially completed as determined by in accordance with all applicable laws (and it shall be so deemed notwithstanding the fact that minor or insubstantial details of construction, mechanical adjustment or decoration (“punchlist items”) remained to be performed, the non-completion of which do not materially interfere with Tenant’s use of the Demised Premises), and the Demised Premises have been delivered to Tenant vacant and broom clean. Landlord shall use commercially reasonable efforts to give Tenant at least five ("Rental 5) Business Days prior notice of substantial completion. Landlord and Tenant shall use reasonable efforts to schedule and jointly perform a walk-through of the Demised Premises to confirm that substantial completion has occurred, provided that failure for such walk-though to occur shall in no way delay or toll the Commencement Date"). 2.2.1. Landlord shall use commercially reasonable efforts to complete such punchlist items as soon as possible after receipt of notice thereof, and to minimize interference with Tenant’s conduct of business during such work. Tenant shall commence paying the Basic Annual Rent and additional rent due under this Lease on the date (the “Rent Commencement Date”) that is the later of the date that is five (5) Business Days after the Commencement Date and June 1, 2019. Notwithstanding anything herein to the Scheduled contrary, in the event the Commencement Date set forth in the Basic Lease Provisionsdoes not occur by November 1, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case2019 (“Outside Date”), Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under have the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate by written notice to Landlord, and be upon delivery of no further force or effect. 2.2.2. Possession of the premises such notice this Lease shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, terminated and (3) Tenant has reasonable access to the Premisesneither party shall have any further rights or obligations hereunder. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Inter Parfums Inc)

Commencement Date. The Term of the Lease shall commence ("Commencement Date shall be Date") on the earliest first day of (a) the first full month following the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof are Substantially Complete ("Lease as hereinafter defined) except that if Substantial Completion occurs on the first day of a month, that date shall be the Commencement Date, and the Lease shall continue in full force and effect for the period of time specified as the Term or until this Lease is terminated as otherwise provided herein. The Premises shall be deemed to be "); or (b) Substantially Complete" on the earliest of the date on which Landlordwhich: (1) Landlord delivers to Tenant an architect's Work notice of substantial completion, or similar written notice that the Premises are substantially complete and, if required, a certificate of occupancy (or a reasonably substantial equivalent such as described in Section 14 belowa signoff from a building inspector or a temporary certificate of occupancy) is substantially completed as determined by Landlord issued for the Premises, or ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for 2) Tenant first occupies all or any reason Landlord cannot deliver possession portion of the Premises to Tenant on said date, (except for initial fixturing and installation and testing of telecommunications and data processing systems as provided for in Section 25 below). Landlord shall not be subject to any liability therefor, nor shall such failure affect arrange for the validity construction of this Lease or the obligations of certain Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety Improvements (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," B), if any, in accordance with and subject to the terms of the Work Letter. Tenant mayshall, at upon demand after delivery of the Premises to Tenant's option, by notice in writing execute and deliver to Landlord within ten a Commencement Date Memorandum in the form attached hereto as Exhibit C, acknowledging (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1i) the improvements to be provided by Landlord under this Lease are substantially completedCommencement Date, (2ii) the Building Utilities are ready for use in the final square footage of time Premises, and (3iii) Tenant has reasonable access to Tenant's acceptance of the Premises. 2.2.3. If Tenant occupies the Premises prior are not Substantially Complete on the Estimated Commencement Date as extended by Force Majeure events and delays caused by Tenant's action or failure to said Commencement Dateact, such occupancy this Lease shall remain in effect, Landlord shall not be subject to all provisions of any liability, and the Commencement Date shall be delayed until the date the Premises are Substantially Complete. Tenant has determined that the Premises are acceptable for Tenant's use and Tenant acknowledges that, except as may be expresslx xxxxrwise provided in this Lease, such occupancy shall not change neither Landlord nor any broker or agent has made any representations or warranties in connection with the termination date, and physical condition of the Premises or their fitness for Tenant's use upon which Tenant shall pay rent has relied directly or indirectly for such occupancyany purpose.

Appears in 1 contract

Samples: Office Lease (Ipayment Inc)

Commencement Date. This Lease, and the obligation to pay Minimum Annual Rent and additional Rent hereunder (subject to any rent-free period as provided under Section 4(c) above), shall commence on the date (the "Commencement Date") that is the earlier to occur of: (i) The Monday following Tenant's occupancy of substantially all of the Premises for the purpose of conducting Tenant's business in and from the Premises (Tenant plans to move into and occupy the Building in phases over several weeks and the fact that Tenant occupies and opens for business in a part, but less than substantially all, of the Premises shall not in itself trigger Lease Commencement); (ii) If Tenant uses a contractor other than Landlord's Base Building general contractor for the construction of the Initial Tenant Improvements, the later of (1) 120 days after the Tenant Access Date, or (2) 60 days after the substantial completion of the Base Building and Site Improvements, it being the intent of the parties that if Tenant uses a contractor other than Landlord's general contractor, Tenant shall have nonexclusive and unrestricted (subject to the provisions of Section 5(a) above) access to the Premises for the 60-day period from 120 days to 60 days prior to the Commencement Date and exclusive access to the Premises (other than access on the part of Landlord or its Agents to complete punchlist items, conduct inspections, or complete any items of unfinished work provided such access does not interfere with or delay Tenant's work) for the 60-days preceding the Commencement Date. (iii) If Tenant uses Landlord's general contractor for the construction of the Initial Tenant Improvements, the later of (i) the first Monday following the date that is 60 days after the date of substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant's equipment, furniture and personal property; this work is contemplated to occur during the 60-day period following the substantial completion of the Initial Tenant Improvements), or (ii) the date of substantial completion by Landlord of the Base Building and Site Improvements. Tenant shall use all reasonable diligence to cause substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant's equipment, furniture and personal property; this work is contemplated to occur during the 60-day period following the substantial completion of the Initial Tenant Improvements) to occur within 60 days of the Tenant Access Date. Without limiting the foregoing, If Tenant uses Landlord's general contractor for the construction of the Initial Tenant Improvements, Tenant shall contract with Landlord's general contractor, and provide Landlord's general contractor with construction plans and specifications, material selections and other appropriate information sufficiently in advance of the Tenant Access Date so that such general contractor can commence construction of the Initial Tenant Improvements as of the Tenant Access Date and proceed with construction without delay resulting from failure of Tenant to timely approve plans or select materials. Tenant's construction contract shall obligate such general contractor to substantially complete the Initial Tenant Improvements within 60 days of the Tenant Access Date. If construction of the Initial Tenant Improvements is delayed as a result of any such delay caused by Tenant, the Commencement Date shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; would have commenced but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectdelay. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Ontrack Data International Inc)

Commencement Date. The Commencement Date shall be the earliest of (a) As herein used, the date on which phrase "commencement date" shall mean the earlier of: (i) the day Tenant takes opens for business in the demised premises, or (ii) one hundred twenty (120) days after Landlord has delivered to Tenant possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the date on which demised premises to Tenant with Landlord's Work (as described in Section 14 belowset forth on Exhibit "B", attached hereto and made a part hereof) is substantially completed as determined by Landlord between July 1, 2006 and October 15, 2006 (the "Rental Commencement DateDelivery Period"). 2.2.1. Notwithstanding Landlord shall give Tenant notice (the Scheduled Commencement Date set forth in "Estimated Delivery Notice") no later than July 1, 2006 of the Basic Lease Provisions, if for any reason status of Landlord's construction and the estimated date that Landlord cannot shall deliver possession of the Premises to Tenant on said datewith Landlord's Work substantially completed (the "Estimated Delivery Date"). Landlord may, but is under no obligation, to revise the Estimated Delivery Date any time prior to thirty (30) days prior to the Estimated Delivery Date (the "Final Delivery Notice Date"), by which time Landlord shall have given Tenant a final notice (the "Final Delivery Notice") of a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work shall be substantially completed and the demised premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. However, if Landlord has not delivered a Final Delivery Notice by the Final Delivery Notice Date, then the Estimated Delivery Notice shall be the Final Delivery Notice and the Estimated Delivery Date shall be the Final Delivery Date. The Final Delivery Date shall not be subject earlier than (i) thirty (30) days after the date Tenant receives the Final Delivery Notice, or (ii) the first day of the Delivery Period. If Landlord does not deliver the demised premises to any liability thereforTenant as required herein by October 15, nor 2006, Tenant may defer delivery until January 2, 2007. If Landlord does not deliver the demised premises to Tenant thereafter on or before July 1, 2007, Tenant may terminate this Lease. Notwithstanding the foregoing, if Landlord’s failure to deliver the demised premises to Tenant on or before July 1, 2007 is due to an event of force majeure which occurs on or after May 1, 2007, Tenant may not exercise its right to terminate the Lease pursuant to this Section 3(a) for an additional ninety (90) day period. In the event that the demised premises and Landlord's Work are not substantially completed and delivered to Tenant on or before the Final Delivery Date, the minimum rent due hereunder shall such failure affect be adjusted so that, after the validity Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (1) day of minimum rent for each day after the Final Delivery Date until delivery of the demised premises is made to Tenant consistent with the terms of this Lease Lease, including substantial completion of the Landlord's Work (“Late Delivery Credit”). In the event Landlord does not provide to Tenant a Final Delivery Notice as required herein and the demised premises and Landlord’s Work is not substantially completed and delivered to Tenant on or before the obligations of Tenant hereunder or extend Final Delivery Date, the term hereof; but in such case, Late Delivery Credit shall not exceed One Hundred Fifty Thousand Dollars and 0/00 ($150,000.00). Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until accept possession of the demised premises prior to the later of (a) substantial completion of Landlord's Work, (b) the first day of the Delivery Period and (c) the Final Delivery Date. Time is of the essence regarding all dates set forth in this Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work at the demised premises so that Tenant may obtain a building permit for Tenant’s Work and commence performance of the same. (b) Possession of the demised premises shall not be deemed to have been given to Tenant unless the demised premises are ready for the installation of Tenant's fixtures and finishing work by Tenant, and are free of any violation of laws, ordinances, regulations and building restrictions relating to the possession or use of or construction upon the demised premises, and until Landlord has substantially completed Landlord's Work. Tenant shall supply Landlord with Tenant's prototypical plans and specifications, and Landlord shall prepare plans and specifications for the Premises at Landlord's expense, for Tenant's approval. All such Landlord's Work shall be done at Landlord's expense and in compliance with all applicable federal, state and local laws, rules, regulations and code requirements. Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work at the demised premises as part of Landlord's Work. (c) Prior to the date on which possession is delivered to TenantTenant as aforesaid, Tenant shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and receiving merchandise and other property, provided that it does not unreasonably interfere with Landlord's construction activities. If, however, All work other than that to be performed by Landlord shall not have delivered possession of the Premises is to be done by Tenant within ninety (90) days following said Scheduled Commencement Date for any reasonafter the date possession of the demised premises has been delivered to Tenant, other than at Tenant's Delays expense in accordance with the provisions of this Lease and as defined set forth in the schedule entitled Description of Tenant's Work Letter and attached hereto as Exhibit "D,C" Tenant may, at and made a part hereof. All Tenant's optionWork shall be performed lien free by Tenant, by notice in writing to Landlord a good and workmanlike manner (employing materials of good quality) in compliance with all governmental requirements. In the event a mechanic's lien is filed against the demised premises or the Shopping Center on account of Tenant's Work, Tenant shall discharge or bond off same within ten (10) days thereafterfrom the filing thereof. If Tenant fails to discharge said lien, advise Landlord may bond off or pay same without inquiring into the validity or merits of such lien, and all sums so advanced shall be paid on demand by Tenant as additional rent. (d) From the date upon which the demised premises are delivered to Tenant for its work until the commencement date of the lease term, Tenant shall observe and perform all of its obligations under this Lease (except Tenant's intent obligation to cancel this Leaseoperate and pay minimum rent, percentage rent and "Tenant's Proportionate Share" (defined in Section 16(c) below) of "Maintenance Costs" (defined and provided for in Section 16(b) hereof) "real estate taxes" (defined and provided for in Section 28(b) hereof) and insurance (provided for in Section 28 hereof). Within ten In the event Tenant fails to open for business within one hundred twenty (10120) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date possession of Landlord's receipt of the demised premises has been delivered to Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs in addition to any and expenses is not timely received by all other available remedies, may require Tenant to pay to Landlord, in addition to all other rent and charges herein, as aforesaidliquidated damages and not as a penalty, then in either such event Tenant's right an amount equal to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession one-three hundred sixty five thousandths (1/365) of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay annual minimum rent for each day such occupancyfailure to open continues.

Appears in 1 contract

Samples: Lease (DSW Inc.)

Commencement Date. The Commencement Date shall be the earliest of (a) Landlord, at its cost and expense, will complete the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as defined and described in Section 14 belowExhibit C) is substantially and obtain a Certificate of Occupancy for the Building, prior to the commencement of construction of the Improvements (as defined and described in Exhibit C) in the Premises [except for that portion of Landlord's Work related to the installation of certain variable air volume boxes in the Premises ("Landlord VAV Work, " as defined in Paragraph A.2 of Exhibit C), which the parties acknowledge will be completed as determined by Landlord after Landlord's delivery of possession of the Premises to Tenant but prior to: (i) January 31, 2000, with respect to the third and fifth floor portions of the Premises, and (ii) with respect to the remaining portions of the Premises, within forty - five (45) days following the Tenant's commencement of construction with respect to each portion of the Premises [which commencement of construction shall be no earlier than the date by which Tenant has received written approval from Landlord of Final Plans (as defined in Exhibit C) for the Improvements (as defined in Exhibit C) for such portion of the Premises (which Final Plans shall contain all necessary details and specifications regarding such Landlord VAV Work)] (collectively, "Rental Commencement DateVAV Completion Dates"). Following Landlord's delivery of possession of the Premises in accordance with the terms hereof, the Improvements will be constructed in the Premises at Tenant's expense (subject to contribution from Landlord in the form of the Tenant Allowance, as defined and provided in Exhibit C). Tenant will act as construction manager with respect to the performance of the Improvements. Landlord and Tenant will cooperate in order to allow Tenant to timely complete the Improvements and Landlord to timely complete the Landlord VAV Work following the delivery of possession of the Premises to Tenant. 2.2.1(b) Landlord shall substantially complete Landlord's Work (other than the Landlord VAV Work), obtain a Certificate of Occupancy for the Building and deliver possession of the Premises to Tenant in order to allow Tenant to complete the Improvements therein. Notwithstanding On the Scheduled Commencement Date set forth in date that Landlord substantially completes Landlord's Work (except for the Basic Landlord VAV Work) and obtains such Certificate of Occupancy, Landlord shall deliver possession of the Premises to Tenant, and such date shall be deemed the "Delivery Date," as such term is used herein. The parties shall both execute and deliver (which delivery may be made initially by delivery of executed signature pages via facsimile to the parties' respective counsel) this Lease Provisionson such Delivery Date, which date is targeted to be January 7, 2000. However, if for the Delivery Date is delayed beyond such targeted Delivery Date or any reason other date scheduled or targeted as the Delivery Date by mutual agreement of Landlord canand Tenant, Landlord shall not have any liability whatsoever to Tenant on account of such failure to deliver possession of the applicable portion of the Premises to Tenant (except as expressly provided in this subparagraph (b)) and this Lease shall not be rendered void or voidable as a result of such delay. However, notwithstanding the foregoing, if Landlord does not deliver possession of the Premises to Tenant in accordance with the foregoing terms on said datethe targeted Delivery Date, Landlord shall provided that such delay is not be subject to any liability therefor, nor shall such failure affect the validity of this Lease caused solely by an act or the obligations omission of Tenant or Tenant's employees, agents or contractors, Tenant shall receive a credit against its first occurring Base Rent obligations hereunder beginning on the Commencement Date in an amount equal to one (1) days' Base Rent (which amount will be determined by pro-rating one full monthly installment of Base Rent payable with respect to the Initial Portion of the Premises beginning on the Commencement Date on a per diem basis based upon a thirty-one (31) day month) for each day that Landlord's delivery of the Premises in accordance with the foregoing terms is delayed beyond such targeted Delivery Date. In addition, if Landlord fails to complete the Landlord VAV Work by the targeted VAV Completion Dates set forth in subparagraph (a) above, provided that such delay is not caused solely by an act or extend omission of Tenant or Tenant's employees, agents or contractors, Tenant shall receive a credit against its first occurring Base Rent obligations hereunder with respect to that portion of the term hereof; but Premises for which such Landlord VAV Work is not completed beginning on the Commencement Date applicable to such portion of the Premises (the Commencement Date, Interim Commencement Date or Final Commencement Date, as set forth in greater detail below) in an amount equal to one (1) days' Base Rent (which amount will be determined by pro-rating one full monthly installment of Base Rent payable with respect to the applicable Portion of the Premises beginning on the applicable Commencement Date on a per diem basis based upon a thirty-one (31) day month) for each day that Landlord's completion of such case, Landlord VAV Work is delayed beyond such targeted VAV Completion Date. The parties acknowledge that Tenant shall not be obligated to pay rent or perform any Base Rent during such period of early occupancy between the Delivery Date and the Commencement Date . However, Tenant covenants and agrees that such occupancy shall be deemed to be under all of the other obligations terms, covenants, conditions and provisions of this Lease (except that Tenant under shall not be obligated to pay for temporary electric service to the terms Premises prior to the Commencement Date). (c) Upon the full execution and delivery of this Lease, except as may be otherwise provided in this Lease, until Tenant shall take possession of the Premises is delivered and shall have the right to Tenantenter upon the same to construct the Improvements therein. IfThe Improvements shall be completed by Tenant in a safe manner and in conformity and compliance with: (i) the requirements and specifications set forth in this subparagraph (c), however(ii) all applicable laws, Landlord shall not have delivered possession statutes, rules, regulations, orders, ordinances, codes, approvals, permits, interpretations, directives and requirements, of all federal, state, county, municipal and city legislatures, executive offices, courts, departments, bureaus, boards, agencies, offices, commissions and other sub-divisions thereof, or of any official thereof, or of any other governmental, judicial, public, quasi-public or quasi-judicial authority (collectively, "governmental authorities"), and the Premises within ninety National Board of Fire Underwriters or any other body exercising similar functions (90collectively, "Requirements") days following said Scheduled Commencement Date for any reasonapplicable thereto, other than Tenant's Delays and (iii) the Final Plans (as defined in Exhibit C) (and any additional or modified plans and specifications) approved therefor in writing by Landlord. All Improvements shall be completed in a first class workmanlike manner, using only new materials, fixtures and equipment, and shall be performed by reputable contractors and subcontractors who are licensed to conduct business in the Work Letter attached hereto as Exhibit "D," Commonwealth of Virginia, and such contractors and subcontractors shall be subject to Landlord's prior written approval (which approval shall not be unreasonably withheld, conditioned or delayed). At all times during performance of the Improvements, Landlord and its representatives shall have the right to enter upon the Premises for the purpose of inspecting construction and progress of the same and compliance with the foregoing (provided that in exercising such right, Landlord will not materially interfere with performance of the Improvements). Prior to commencing any work with respect to the Improvements, and thereafter until the same are completed, Tenant may, at shall obtain and maintain and/or cause Tenant's optioncontractor to obtain and maintain insurance against: claims under workmen's compensation and other employee benefit acts, by notice in writing with limits not less than $500,000.00; claims for damages because of bodily injury, including death, to Landlord within ten (10) days thereaftersaid contractor's employees and all others, advise Landlord with a single limit of $5,000,000.00 per person and per occurrence; and damages to property with limits of $5,000,000.00. Throughout the period during which the Improvements are being performed, Tenant and Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs contractors and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when subcontractors shall: (1) keep the improvements Building, the Land and all areas adjacent thereto free to be provided by Landlord under this Lease are substantially completeddebris, refuse, equipment, materials and personal property, (2) initiate, maintain and supervise all necessary safety precautions and programs in connection with the Building Utilities are ready work and take all reasonable precautions for use in the safety of, and provide all reasonable protection to prevent damage, injury or loss to all employees on the work site and other persons who may be affected thereby, all the work and all the materials and equipment to be incorporated therein, and other property at the work site or adjacent thereto, such precautions to include without limitations the furnishings of guard rails and barricades and the securing of the Premises. Immediately upon the completion of the Improvements: (i) Tenant shall remove and cause Tenant's contractors and any subcontractors to remove any and all debris, refuse, equipment, materials and personal property left on the Premises, in the Building, on the Land or any area adjacent thereto, and (3ii) Tenant has reasonable access shall deliver to Landlord full and complete lien releases executed by all of Tenant's contractors and subcontractors and any other party providing services or materials with respect to the Improvements or the Premises. During Tenant's performance of the Improvements and Tenant's initial "move-in" into the Premises, Tenant will have exclusive use, at no additional cost to Tenant, of one (1) freight elevator or hoist and one (1) passenger elevator. 2.2.3. If (1) The Commencement Date shall be the earlier to occur of (i) March 1, 2000, and (ii) the date on which Tenant occupies substantially completes the Improvements in the Initial Portion (as defined below) of the Premises prior to said and such Initial Portion can be occupied for business operations (including the completion of other work and installations beyond the Improvements necessary for Tenant's business operations); (2) the Interim Commencement Date, such occupancy Date shall be the earlier to occur of: (i) June 1, 2000, and (ii) the date on which Tenant substantially completes the Improvements with respect to an additional (over and above the Initial Portion) full floor of the Premises (the "Interim Portion" of the Premises) and such Interim Portion can be occupied for business operations (including the completion of other work and installations beyond the Improvements necessary for Tenant's business operations) (subject to all provisions of further adjustment as set forth below in this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.subparagraph (d)); and

Appears in 1 contract

Samples: Deed of Lease (Microstrategy Inc)

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Commencement Date. (A) The term of this Lease shall commence on the later to occur of (x) October 1, 2022 and (y) the date on which Landlord delivers vacant and exclusive possession of the Premises to Tenant with Landlord's Pre-Delivery Work having been Substantially Completed (the later of the dates that are described in clause (x) and clause (y) above being referred to herein as the "Commencement Date"). Subject to the terms of this Section 1.2, Landlord shall deliver to Tenant vacant and exclusive possession of the Premises on the Commencement Date. If Landlord does not deliver vacant and exclusive possession of the Premises to Tenant on or prior to October 1, 2022 with Landlord's Pre-Delivery Work having been Substantially Completed for any reason whatsoever, then Landlord shall have no liability to Tenant, and, subject to Section 6.2(B) hereof, Tenant shall have no right to terminate or rescind this Lease or reduce the Rental, in each case deriving from Landlord's failure to deliver vacant and exclusive possession of the Premises to Tenant on or prior to October 1, 2022. Landlord and Tenant intend that this Section 1.2 constitutes an "express provision to the contrary" for purposes of Section 223-a of the New York Real Property Law. (B) The term "Pre-Delivery Work Substantial Completion Date" shall mean the date that Landlord's Pre-Delivery Work is Substantially Completed. Landlord shall give Tenant not less than ten (10) days' prior notice of the date on which Landlord estimates that the Pre-Delivery Work Substantial Completion Date will occur, with the understanding, however, that (x) Landlord shall not be in default if the Pre-Delivery Work Substantial Completion Date occurs later than the date that Landlord specifies in such notice to Tenant, provided that Landlord gives such notice to Tenant in good faith and (y) the Pre-Delivery Work Substantial Completion Date shall occur as otherwise provided in this Lease notwithstanding that the Pre-Delivery Work Substantial Completion Date occurs earlier or later than the date that Landlord specifies in any such notice, provided that Landlord gives such notice to Tenant in good faith. (1) Tenant shall prepare and deliver plans for the Initial Alterations (the "Work Plans") suitable for bidding to a reputable general contractor or a reputable construction manager that is acceptable to Tenant (the "Work Contractor") in accordance with the terms of Article 7 hereof. The Work Plans shall be subject to Landlord's prior approval as provided in Section 7.3 hereof, and the earliest Work Contractor shall be on the list of contractors designated by Landlord or subject to Landlord's approval, in each case as provided in Section 7.9(B) hereof. Landlord shall enter into a construction contract with the Work Contractor in form reasonably acceptable to Landlord and Tenant for the performance of the Initial Alterations, provided that the Work Contractor agrees to (x) enter into such a contract with Landlord in form reasonably acceptable to Landlord and Tenant and (y) commence and diligently perform the Initial Alterations in a timely manner (herein called an "Acceptable Construction Contract"). If (x) Tenant delivers to Landlord a request for Landlord's approval of a construction contract with the Work Contractor for the performance of the Initial Alterations as aforesaid, together with a copy of such construction contract, and (y) Landlord fails to respond to Tenant's aforesaid request on or prior to the fifteenth (15th) Business Day after the date that Tenant gives such request to Landlord, then Landlord shall be deemed to have approved such request, provided that such construction contract otherwise constitutes an Acceptable Construction Contract. Landlord acknowledges and agrees that the Work Contractor may act as a general contractor and/or a construction manager and the Acceptable Construction Contract may be a construction contract and/or a construction management contract. Tenant acknowledges that the Work Contractor's failure to perform the Initial Alterations in a manner that conforms with the terms of the Acceptable Construction Contract shall not impair the occurrence of the Commencement Date. Landlord shall bear all of the initial costs and expenses incurred by Landlord and/or billed by the Work Contractor pursuant to the terms and conditions of the Acceptable Construction Contract (herein called the "Work Costs"), including, but not limited to, the cost of labor, materials and filing plans for the Initial Alterations, provided, however, that in no event shall Landlord have any obligation to fund Work Costs in an amount that is greater than Eighteen Million Two Hundred Ninety-Seven Thousand Seven Hundred Seventy and 00/100 Dollars ($18,297,770.00) in the aggregate (such amount, the "Landlord Work Costs Contribution") under the Acceptable Construction Contract. Landlord makes no representation or warranty that the Landlord Work Costs Contribution is sufficient to pay the cost of the Initial Alterations. Tenant shall fund Work Costs due under the Acceptable Construction Contract after Landlord's payment of the Landlord Work Costs Contribution. If Landlord exercises Landlord's rights to consummate a Recapture Termination for Recapture Space that does not constitute the entire Premises in accordance with the terms of Section 17.3 hereof, then the Landlord Work Costs Contribution shall be adjusted to an amount equal to the product obtained by multiplying (x) One Hundred Fifty-Three and 47/100 Dollars ($153.47), by (y) the number of square feet of Rentable Area comprising the Premises initially demised hereunder (i.e., the ninth (9th) floor of the Building and the tenth (10th) floor of the Building) (other than such Recapture Space); provided, however, that (i) in no event shall Tenant have any obligation to make any repayment to Landlord to the extent that the amount of the Landlord Work Costs Contribution that Landlord has theretofore disbursed exceeds the amount of the Landlord Work Costs Contribution, as so redetermined and (ii) Landlord shall pay to the Work Contractor any outstanding amount that is the subject of an invoice that is due and payable to the Work Contractor at the time Landlord delivers a Recapture Sublease Notice or a Recapture Termination Notice to Tenant. (2) Subject to the terms of Article 7 hereof, any material modification in the Work Plans (as approved pursuant to Section 7.3 hereof) requested by Tenant shall be made by means of a written authorization executed by Tenant (herein called a "Change Order"). Each Change Order will specify the scope of the work to be performed and authorization to proceed. Any proposed material modification of the Work Plans shall be submitted by Tenant simultaneously to Landlord and the Work Contractor, which modification shall be subject to Landlord's approval in accordance with Article 7 hereof. Tenant shall prepare and deliver a form of Change Order for such proposed modification to both Landlord and the Work Contractor. Unless a Change Order is authorized as prescribed above, such work shall not be performed. Tenant acknowledges that Tenant's submission of a Change Order shall not impair in any manner the occurrence of the Commencement Date, and in no event shall the incorporation of any Change Orders into the Initial Alterations (or the applicable portion thereof that is within the scope of the Acceptable Construction Contract) require Landlord to fund more than the Landlord Work Costs Contribution. (3) Landlord shall cause the Work Contractor to commence the Initial Alterations with reasonable promptness following the date which is the later to occur of (x) the date on which Landlord has approved the Work Plans pursuant to the terms of this Section 1.2(C) and Article 7 hereof and (y) the Pre-Delivery Work Substantial Completion Date, and shall thereafter cause the Work Contractor to diligently perform the Initial Alterations until the Assignment Date (it being agreed that notwithstanding anything to the contrary stated herein, Landlord's aggregate liability to the Work Contractor under the Acceptable Construction Contract shall not exceed the amount of the Landlord Work Costs Contribution); provided, however, that Landlord shall not have any liability to Tenant under this Lease arising from any delays or deficiencies in the Work Contractor’s performance of the Initial Alterations, except to the extent arising from Landlord's willful misconduct or Landlord's failure to timely pay the Work Contractor the Work Costs that Landlord is required to pay pursuant to this Section 1.2(C). Tenant has advised Landlord that VVA Project Managers ("VVA") will act as project manager for the Initial Alterations. Landlord hereby agrees to reasonably cooperate with VVA and the Work Contractor to coordinate the performance of the Initial Alterations, and Landlord shall defer to VVA's instructions on matters relating to the Initial Alterations, except to the extent such instructions conflict with the rights or obligations of Landlord or Tenant under this Lease or under the Work Contract or applicable Requirements. (4) Landlord and Tenant acknowledge that the portion of the Initial Alterations paid for by Landlord pursuant to this Section 1.2(C) shall constitute the property of Landlord, subject, nevertheless, to Tenant's rights to use such portion of the Initial Alterations as part of the Premises during the Term in accordance with the terms of this Lease. Tenant, during the Term, shall not remove such portion of the Initial Alterations that were paid for by Landlord pursuant to this Section 1.2(C) (or Alterations that replace such portion of the Initial Alterations) unless Tenant replaces such portion of the Initial Alterations, or such other Alterations, as the case may be, with Alterations that have a fair value that is equal to or greater than such portion of the Initial Alterations that were paid for by Landlord pursuant to this Section 1.2(C) (it being understood that such Alterations that Tenant performs to replace such portion of the Initial Alterations, or such other Alterations, as the case may be, shall constitute the property of Landlord as contemplated by this Section 1.2(C)(4)). Nothing contained in this Section 1.2(C)(4) limits Landlord's right to require Tenant to remove Specialty Alterations as provided in Section 7.8 hereof. (5) Effective as of the date (the "Assignment Date") which is the earlier to occur of (x) the date which is the later of (a) the date on which Tenant takes possession of or commences business operations upon Landlord has paid to the Premises or any part thereof ("Lease Commencement Date"); or Work Contractor an aggregate amount equal to the Landlord Work Costs Contribution and (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in or (y) the Basic Lease Provisionsdate, if for any reason any, that Tenant requests that Landlord cannot deliver possession of assign the Premises Acceptable Construction Contract to Tenant, Landlord hereby assigns the Acceptable Construction Contract to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the and Tenant hereby assumes all obligations of Tenant hereunder or extend Landlord thereunder (the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Clear Secure, Inc.)

Commencement Date. The Commencement Date shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled after the date that the Landlord's Work [as defined in Subparagraph 1(a) of the Work Letter Agreement attached hereto as Exhibit "C" ("Work Letter Agreement")] has been substantially completed (as defined below); provided, however, the Commencement Date for may be advanced or extended as follows: (i) if substantial completion of the Landlord's Work is delayed as a result of any reason, other than Tenant's Tenant Delays (as defined in the Work Letter attached hereto Agreement), then the Commencement Date, as Exhibit "D," would otherwise have been established as set forth in this sentence, shall be advanced by the number of days of such Tenant mayDelays; and (ii) if Tenant is delayed in the substantial completion of the Tenant Improvements beyond the ninety (90) day period set forth in this sentence as a result of Landlord Delays (as defined in the Work Letter Agreement), at Tenant's option, then for each day of such delay the Commencement Date shall be extended by notice in writing to Landlord within ten one (101) days thereafter, advise Landlord day. For purposes of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises Work shall be deemed delivered to Tenant when (1) the improvements to be provided "substantially completed" when Landlord's contractor certifies in writing ("Landlord's Work Substantial Completion Certificate") to Landlord and Tenant that Landlord has substantially performed all of the Landlord's Work required to be performed by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, Work Letter Agreement other than minor "punch-list" type items and (3) Tenant has reasonable adjustments which do not materially interfere with Tenant's access to the Premises. 2.2.3. Within seven (7) days after Tenant receives the Landlord's Work Substantial Completion Certificate, Tenant shall be entitled to have its architect inspect the Landlord's Work for purposes of confirming the matters set forth in the Landlord's Work Substantial Completion Certificate, provided Tenant shall give Landlord at least forty-eight (48) hours' prior written notice of such inspection. Landlord shall be entitled to have its contractor, architect and/or other representatives present during such inspection by Tenant's architect. If Tenant occupies fails to have its architect inspect the Premises prior to said Commencement DateLandlord's Work within the aforesaid seven (7) day period, such occupancy it shall be subject deemed that Tenant has waived its right to all provisions make such inspection. For purposes of this Lease, such occupancy substantial completion of the Tenant Improvements shall occur on the date that the Tenant Improvements have been substantially completed in accordance with the Final Tenant Improvement Plans and Specifications (hereafter defined in Subparagraph 3(b) of the Work Letter Agreement) other than decoration and minor "punch-list" type items and adjustments which do not change materially interfere with Tenant's use of the termination date, and Tenant shall pay rent for such occupancyBuilding.

Appears in 1 contract

Samples: Office Building Lease (Kana Communications Inc)

Commencement Date. The Notwithstanding anything to the contrary contained in the Lease, Tenant shall have an ongoing option (the "Acceleration Option") to accelerate the Commencement Date of all or any portion of Increment 4 that is not then subject to a lease or any right of first offer, right of first refusal, renewal or extension option, or any other right or option in favor of any other party. Tenant shall exercise the Acceleration Option by providing Landlord with notice thereof (each, an "Acceleration Notice"), in which Tenant shall designate the location and rentable square footage of the Increment 4 space requested by Tenant (the "Accelerated Increment 4 Space") and the commencement date with respect to Tenant's lease thereof (which shall not be the earliest of (a) less than 90 days from the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) Tenant's notice nor more than 120 days from the date of Tenant's notice). Tenant shall have no right to designate any Accelerated Increment 4 Space that is not then separately demised as a leaseable unit of space, nor may Tenant designate as Accelerated Increment 4 Space less than the entire rentable area of any floor of the Building (or less than the entire rentable area on which the north or south wing of any floor) if such floor (or wing) is not then constituted as a multi-tenant floor (or wing) (i.e., if the entire rentable area of any floor or wing is available for lease, Tenant's Acceleration Notice shall apply to all, and not less than all, of the entire rentable area of such floor or wing), unless in each such case Tenant, at Tenant's sole cost and expense, performs all work necessary to separately demise the Accelerated Increment 4 Space and to create entrances to the remaining leasable units of space on such floor or wing, and, to the extent not then existing, to create a multi-tenant corridor on such floor or wing so that the entrances to the remaining leasable units of space are accessible. In addition, if Tenant shall designate as Accelerated Increment 4 Space less than the entire rentable area of any floor of the Building (or less than the entire rentable area on the north or south wing of any floor), by notice to Tenant given within ten (10) Business Days after Landlord's Work (receipt of tenant Acceleration Notice, Landlord shall have the right to nullity Tenant's exercise of its Acceleration Option if the remaining space on such floor or wing, as described in Section 14 below) is substantially completed applicable, would be of such size or configuration as not to be reasonably leasable by Landlord, as reasonably determined by Landlord. If Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver is delayed delivering possession of the Premises Accelerated Increment 4 Space due to the holdover or unlawful possession of such space by any party, Landlord shall use reasonable efforts to obtain possession of the space, and the commencement of the term for the Accelerated Increment 4 Space shall be postponed until the date Landlord delivers possession of the Accelerated Increment 4 Space to Tenant free from occupancy by any party. If Tenant exercises the Acceleration Option granted herein, Landlord shall use reasonable efforts to deliver the Accelerated Increment 4 Space to Tenant on said datethe stated availability date for the lease thereof. Tenant acknowledges that Landlord does not guarantee that the Accelerated Increment 4 Space will be available on the stated availability date for the lease thereof, if the then existing occupants of the Accelerated Increment 4 Space shall hold over, or delivery is delayed for any other reason beyond Landlord's reasonable control, and in such event, as Tenant's sole recourse, the term of the Lease as respects the Accelerated Increment 4 Space shall not commence until Landlord delivers the same to Tenant; provided, however, that if Landlord shall not be subject deliver the Accelerated Increment 4 Space to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date of the stated availability date for the lease thereof, as such ninety (90) day period shall be extended for any reason, other than Tenant's Delays delay due to Limited Force Majeure (as defined in Section 4 of the Work Letter attached hereto as Exhibit "D," Lease), Tenant may, at Tenant's option, shall have the right to terminate its lease of the Accelerated Increment 4 Space by notice in writing thereof to Landlord given within ten (10) days thereafter, advise Landlord Business Days after the expiration of such ninety (90) day period as so extended. Upon Tenant's intent election to cancel this lease the Accelerated Increment 4 Space, Landlord and Tenant shall promptly enter into an amendment to the Lease (including modification of the Premises Table set forth in Section 1.02 of the Lease. Within ten , and Schedule 1 and Section 1.04 of the Lease, as appropriate in each case), adding such Accelerated Increment 4 Space to the Premises at the Rent and on the other terms and conditions applicable to Increment 4 as set forth in the Lease, except as expressly provided above, and except further that (10i) the Rent Commencement Date shall be ninety (90) days after its receipt the Commencement Date of such noticeAccelerated Increment 4 Space, (ii) the Allowance for the Accelerated Increment 4 Space shall be pro-rated to reflect the Lease Term with respect to the Accelerated Increment 4 Space as set forth on Schedule 3 attached hereto, and (iii) pursuant to clause (ii) of Section I.F. of the Work Letter, in addition to the Allowance, and not as a deduction therefrom, Landlord shall submit to reimburse Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, Two and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten 5011 00 Dollars (10$2.50) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession per rentable square foot of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the PremisesAccelerated Increment 4 Space. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Zulily, Inc.)

Commencement Date. The Commencement Date Term shall be for the earliest period of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth time specified in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of Information unless sooner terminated as hereinafter provided. The Term shall commence on the date the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is are delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety Tenant in “substantially completed” condition (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto Agreement), subject to adjustment for “Tenant Delays” as Exhibit "D," provided in the Work Letter Agreement and shall continue thereafter in full force and effect for the period specified as the Term or until this Lease is terminated as otherwise provided herein; provided, Tenant mayshall have the option, to be exercised by written notice (“Commencement Date Delay Notice”) to Landlord delivered no later than two (2) days after Tenant has received notice of the date that the Premises will be substantially complete, to delay the commencement of the Term for a period not to exceed thirty (30) days after the date that the Premises are substantially complete (as such date of substantial completion may be adjusted for Tenant Delays as provided in the Work Letter). The date of substantial completion or, if Tenant delivers a Commencement Date Delay Notice, such delayed date, shall be the “Commencement Date”. If the Premises are not substantially completed by September 1, 2008 (the “Outside Date”), Landlord shall use commercially reasonable efforts to make other space in the Building or in other buildings owned by Landlord in the vicinity of the Building, available for Tenant’s use on a temporary basis pending substantial completion of the Premises, at Tenant's option, the same base rental rate per rentable square foot as would be payable by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel Tenant under this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties The Outside Date shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited extended by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when one (1) the improvements to be provided by Landlord under this Lease are substantially completed, day for each day of Tenant Delay or Force Majeure delay (2) the Building Utilities are ready for use as defined in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3Section 22.15 below). If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions For purposes of this Lease, such occupancy the first “Lease Year” shall not change mean the termination dateperiod commencing on the Commencement Date and ending twelve (12) months thereafter, except that if the Commencement Date is other than the first day of a calendar month, the first “Lease Year” shall mean the period commencing on the Commencement Date and Tenant ending on the last day of the twelfth (12th) full calendar month after the Commencement Date. Thereafter, the term “Lease Year” shall pay rent for such occupancymean a period equal to twelve (12) full calendar months.

Appears in 1 contract

Samples: Full Service Lease (Enphase Energy, Inc.)

Commencement Date. The term of this Lease shall commence on the date which is the later of: (a) July 1, 2019, or (b) subject to Tenant Delay (as hereinafter defined), the date on which the Tenant Improvements are Substantially Complete (as hereinafter defined). The Tenant Improvements shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) a temporary certificate of occupancy or a reasonably substantial equivalent such as a sign-off from a building inspector is issued by the City of Pleasanton (the "City"), or (2) Tenant first occupies all or any portion of the Expansion Premises. The Tenant Improvements shall be deemed to be Substantially Complete despite minor “punch list” items which shall be completed by Landlord within a reasonable time. If a Tenant Delay occurs, the Commencement Date shall be and mean the earliest later of July 1, 2019 or the date upon which the Tenant Improvements would have been Substantially Complete but for any Tenant Delay. As used herein, a “Tenant Delay” shall be and mean each day of delay in the commencement or performance of the Tenant Improvements that occurs (a) because Tenant fails to timely furnish any information or deliver or approve any required documents (whether preliminary, interim revisions or final), pricing estimates, construction bids, and the date on like, (b) because of any change by Tenant to the Plans and Specification, Working Drawings or Final Working Drawings (each of which are hereinafter defined), (c) because Tenant takes possession of or commences business operations upon fails to attend any meeting with Landlord, the Premises architect, any design professional, or any part thereof contractor, or their respective employees or representatives, as may be required or scheduled hereunder or otherwise necessary in connection with the preparation or completion of any construction documents, such as the Plans and Specification, Working Drawings or Final Working Drawings, or in connection with the performance of the Tenant Improvements, (d) because of any specification by Tenant of materials or installations in addition to or other than Landlord’s standard finish-out materials, or (e) Tenant fails to deposit any Overage (as hereinafter defined) with Landlord as and when required hereunder. 1.1.1 The date that the Lease commences in accordance with this Article 1 shall be referred to herein as the "Lease Commencement Date"); . 1.1.2 On and after the Commencement Date, the Lease shall continue in full force and effect until January 31, 2027 (“Expiration Date”) or until this Lease is terminated as otherwise provided herein. As soon as the Commencement Date is determined, Tenant shall execute a Commencement Date Memorandum in the form attached hereto as Exhibit F acknowledging, among other things, the (a) Commencement Date, (b) the date on which LandlordExpiration Date and (c) Tenant's Work (as described acceptance of the Expansion Premises. Tenant's failure to execute the Commencement Date Memorandum shall not affect Tenant's liability hereunder. 1.1.3 Reference in Section 14 below) is substantially completed as determined by Landlord (this Lease to a "Rental Lease Year" shall mean each successive twelve month period commencing with the Commencement Date"). 2.2.1. Notwithstanding 1.1.4 Landlord and Tenant estimate that the Scheduled Commencement Date set forth in the Basic Lease Provisionsshall be July 1, if for any reason Landlord can2019, but such estimate is not deliver possession of the Premises to Tenant on said date, Landlord and shall not be subject deemed to any liability therefor, nor be a representation or warranty by Landlord that Premises shall be ready for Tenant's occupancy on such failure affect date. 1.1.5 Landlord shall provide Tenant with limited access to the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in Expansion Premises at such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except times as may be otherwise provided designated by Landlord in this Lease, until possession light of construction work by Landlord in the Expansion Premises is delivered for a period of approximately two (2) weeks prior to Tenant. If, however, the date which Landlord shall not have delivered possession of anticipates being the Premises within ninety (90) days following said Scheduled Commencement Date for any reasonthe sole purpose of permitting Tenant to ready the Expansion Premises for Tenant’s occupancy, other than so that Tenant’s access does not interfere with the performance of Landlord’s work in the Expansion Premises. Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies Expansion Premises during the Premises period of time prior to said the Commencement Date, such occupancy Date shall be subject to all the provisions of this LeaseLease (including the Rules and Regulations and such other rules and regulations as Landlord may reasonably impose), such occupancy other than the payment of Rent and the expiration date of the Lease shall not change be advanced by such access by Tenant of the termination date, and Expansion Premises prior to the Commencement Date. Tenant shall pay rent for such occupancynot interfere with Landlord’s performance of Landlord’s work in the Expansion Premises.

Appears in 1 contract

Samples: Office Lease (Rimini Street, Inc.)

Commencement Date. (a) The Commencement Date of this Lease is the date set forth in the Schedule; provided, however, that if the Substantial Completion Date (as defined in the Tenant Improvement Agreement attached hereto as Exhibit C) does not occur on or before July 1, 2005 for any reason, then (a) this Lease shall not be void or voidable by either party, (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and (c) the Commencement Date shall be revised to mean the earliest of (a) Substantial Completion Date. If and only if the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth is adjusted pursuant to the foregoing, then Landlord shall prepare and deliver to Tenant a Commencement Date Confirmation substantially in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter form attached hereto as Exhibit "D," D that sets forth both the Commencement Date and Termination Date for this Lease. Tenant may, at Tenant's option, by notice in writing shall execute the Commencement Date Confirmation and deliver the executed original of the same to Landlord within ten three (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (103) days after its Tenant’s receipt of such notice, thereof. Tenant’s failure to timely execute and return the Commencement Date Confirmation document to Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt be conclusive evidence of Tenant's notice of intent to cancel’s agreement with the information as set forth therein. This Lease shall thereafter be canceleda binding contractual obligation effective upon execution and delivery hereof by Landlord and Tenant, and notwithstanding the parties shall be discharged from all obligations hereunderlater commencement of the Lease Term. (b) Notwithstanding the provisions of Section 1.1(a) above, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten the Premises Delivery Date does not occur on or before July 31, 2005 (10) days after the “Premises Delivery Deadline”), Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaidits sole remedy, then in either such event Tenant's shall have the right to cancel this Lease hereunder by giving written notice of such cancellation to Landlord at any time after the Premises Delivery Deadline and prior to the Premises Delivery Date, in which case this Lease shall terminate and be cancelled effective five (5) business days after Landlord’s receipt of no further force Tenant’s cancellation notice, unless the Premises Delivery Date occurs within said five (5) business day period; provided, however, that the Premises Delivery Deadline shall be extended by the number of days that the Premises Delivery Date is delayed due to any Force Majeure Delay (as defined below) or effect. 2.2.2. Possession any delay in receiving any required permits to construct the Tenant Improvements or any Tenant Delay (as defined in Section 3.3 of the premises Tenant Improvement Agreement). In the event of such cancellation by Tenant, neither party shall be deemed delivered have any obligations to Tenant when (1) the improvements to be provided by Landlord other under this Lease are substantially completedLease, (2) except for obligations that survive the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions expiration or earlier termination of this Lease, such occupancy and Landlord shall not change promptly return to Tenant the termination dateLease Deposit. For purposes of this Lease, and Tenant shall pay rent for such occupancythe term “Force Majeure Delay” means any delay attributable to Force Majeure (as defined in Section 12.3 below).

Appears in 1 contract

Samples: Lease (Nextg Networks Inc)

Commencement Date. The Commencement Date shall be the earliest earlier of May 1, 1992 or the date (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after the date on which all of the following conditions have been met: (i) all of the work required to be performed by Tenant on the interior of, and on the main entrance to, the existing building on the Premises pursuant to EXHIBIT C has been substantially completed; (ii) Landlord shall have received a certificate from Tenant's Construction Representative certifying such substantial completion; (iii) a Certificate of Occupancy has been issued by the Town of Norwood permitting the occupancy of the entire existing building on the Premises for the Permitted Uses containing no exceptions which interfere with the use of the Premises for the Permitted Uses; or (b) Tenant commences operations of its receipt business in the entire existing building on the Premises (such date as derived from either clause (a) or (b) above, hereinafter the 'Substantial Completion Date"). The term "substantially completed" as used herein shall mean that the work to be performed by Tenant pursuant to EXHIBIT C has been completed, with the exception of minor items which can be fully completed without material interference with Tenant's use and occupancy of the entire existing building on the Premises for the Permitted Uses and other items which, because of the season or weather or the nature of the item, are not practicable to do at the time, provided that none of such notice, Landlord shall submit items is necessary to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to make the Premises up to tenantable for the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by TenantPermitted Uses. If such written notice the Substantial Completion Date occurs pursuant to clause (b) of intent this Section, Tenant shall comply with those conditions in clause (a) for which it is responsible as promptly as possible following the Substantial Completion Date. Tenant shall as promptly as possible complete any uncompleted work, including minor items and items which earlier were impracticable to cancel by perform. Additionally, Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, shall proceed as aforesaid, then promptly as possible after issuance to eliminate any exceptions contained in either such event Tenant's right to cancel this Lease hereunder shall terminate and be the Certificate of no further force or effect. 2.2.2Occupancy. Possession Upon occurrence of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, Landlord and Tenant shall pay rent for enter into a side letter acknowledging such occupancydate.

Appears in 1 contract

Samples: Lease (Analog Devices Inc)

Commencement Date. (a) The term of this Lease and the estate hereby granted (the “Lease Term”) shall commence on the date that Landlord makes possession of the Premises available to Tenant with the Base Work Substantially Complete pursuant to the Work Letter. Such date of commencement is hereinafter called the “Commencement Date”. If Landlord fails to cause the Commencement Date shall be to occur on or before the earliest date that is [***] following the later to occur of (ax) the date hereof and (y) the date on which the Plans and Specifications are finalized and approved by Landlord and Tenant takes possession in accordance with the terms of the Work Letter (as such date shall be extended on a day for day basis for Force Majeure and Tenant Delay, the “Anticipated Delivery Date”), then the Rent Commencement Date shall be postponed by (i) [***] for each day that occurs during the period commencing on the day immediately following the Anticipated Delivery Date to but not including the earlier to occur of (A) [***] and (B) the date that is [***] after the Anticipated Delivery Date, and (ii) [***] for each day that occurs during the period commencing on the [***] after the Anticipated Delivery Date to but not including the Commencement Date, and any delay in such date shall be Tenant’s sole remedy at law or commences business operations upon in equity (Tenant hereby waiving any right to rescind this Lease and/or to recover any damages on account of such delay other than as expressly set forth in Section 3.1(b) below). Landlord hereby agrees to use commercially reasonable efforts to cause the Commencement Date to occur prior to the Anticipated Delivery Date and Landlord shall keep Tenant reasonably apprised of any anticipated delay in the Substantial Completion of the Base Work. The foregoing is intended to be “an express provision to the contrary” under Section 223¬a of the New York Real Property Law or any successor statute of similar import. If Tenant occupies all or any portion of the Premises prior to the Commencement Date specified above for the normal operation of its business therein (and not for the purpose of installing Tenant’s furniture, fixtures or any part thereof ("Lease equipment prior to the Commencement Date", if the same is permitted hereunder); or , the Commencement Date shall be treated as having occurred on such date of occupancy. (b) If the Commencement Date does not occur on or before the date that is twelve (12) months following the later to occur of (i) the date hereof and (ii) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined the Plans and Specifications are finalized and approved by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth and Tenant in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under accordance with the terms of this Lease, except the Base Work Letter (as may such date shall be otherwise provided extended on a day-for-day basis for Force Majeure (but in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord no event shall not have delivered possession of the Premises within such Force Majeure extension exceed ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," aggregate) and Tenant mayDelay, at the “Outside Date”), then Tenant's option, by in Tenant’s sole discretion, shall have the right to terminate this Lease upon written notice in writing (“Tenant’s Termination Notice”) delivered to Landlord within ten (10) days thereafterafter the Outside Date, advise Landlord time being of the essence. If Tenant does not deliver Tenant's intent to cancel this Lease. Within ’s Termination Notice within the aforesaid ten (10) day period, then Tenant shall be deemed to waived such termination right. If Tenant exercises such termination right and Landlord does not deliver the Premises to Tenant within thirty (30) days after its receipt the giving of such noticeTenant’s Termination Notice (time being of the essence and Force Majeure notwithstanding), then this Lease shall cease and come to an end without further liability or obligation on the part of either party; provided, however, if Landlord shall submit cause the Commencement Date to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's occur within thirty (30) days after receipt of Tenant's notice of intent to cancel. This ’s Termination Notice, this Lease shall thereafter not be canceled, so terminated and the parties Tenant’s termination right under this Section 3.1(b) shall be discharged from all obligations hereunder, if void and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Protara Therapeutics, Inc.)

Commencement Date. (a) Notwithstanding the February 1, 1997 date specified in Section 1.1(i), above, the "Commencement Date" of this Lease shall be the date upon which Landlord delivers the Completion Notice to Tenant (as set forth in paragraph 10 of Exhibit C hereto). Notwithstanding anything to the contrary herein, (i) in the event the Commencement Date has not occurred on or before February 15, 1997 (other than as a result of any "Tenant Delay", as such term is defined in Exhibit C hereto), the parties mutually agree that the Term of this Lease shall expire on February 15, 2003, regardless of when the Commencement Date occurs (in other words, the Term of the Lease shall be shorter than seventy-two (72) full months if the Commencement Date occurs after February 15, 1997 other than as a result of any Tenant Delay), (ii) in the event the date upon which Landlord delivers the Completion Notice to Tenant is delayed more than fifteen (15) days due to any Tenant Delay, then the Commencement Date of this Lease shall be February 15, 1997 irrespective of whether construction of Landlord's Work has been completed by February 15, 1997. The foregoing notwithstanding, if a combination of Tenant Delay and delay occurring other than as a result of Tenant Delay causes the date upon which construction of Landlord's Work is completed to extend past February 15, 1997, then the Commencement Date shall be the earliest of (a) the adjusted to be that date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work would have been completed but for such Tenant Delay (as described in Section 14 belowbut only to the extent such Tenant Delay exceeded fifteen (15) days), and the Lease Term shall expire on the earlier of (1) that date which is substantially completed as determined by Landlord seventy-two ("Rental Commencement Date"). 2.2.1. Notwithstanding 72) full months after the Scheduled Commencement Date set forth in or (2) that date which is calculated by measuring seventy-two (72) full months after the Basic Lease Provisionsdate Landlord's Work would have been completed but for such Tenant Delay (but not later than February 15, 1997), plus the total number of days of Tenant Delay which occurred. For purposes of illustrating the foregoing provision only, and not by way of limitation, (A) if for any reason Landlord cannot deliver possession there were twenty (20) days of Tenant Delay and completion of Landlord's Work and delivery of the Premises Completion Notice was achieved on February 28, 1997, then the Lease Commencement Date shall be deemed to Tenant on said datebe February 23, Landlord shall not be subject to any liability therefor1997, nor shall such failure affect and the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession expiration of the Premises is delivered to Tenant. IfLease Term shall be February 22, however2003, Landlord shall not have delivered possession of the Premises within ninety (90B) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within if there were ten (10) days thereafterof Tenant Delay and completion of Landlord's Work and delivery of the Completion Notice was achieved on February 28, advise Landlord 1997, then the Lease Commencement Date shall be February 28, 1997, and the expiration of Tenant's intent to cancel this Lease. Within the Lease Term shall occur on February 24, 2003, (C) if there were ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs Delay and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date completion of Landlord's receipt Work and delivery of Tenant's notice of intent to cancel. This the Completion Notice was achieved on February 20, 1997, then the Lease Commencement Date shall thereafter be canceledFebruary 20, 1997, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession expiration of the premises Lease Term shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completedoccur on February 19, (2) the Building Utilities are ready for use in the Premises2003, and (3D) if there was no Tenant has reasonable access Delay and completion of Landlord's Work and delivery of the Completion Notice was achieved on February 28, 1997, then the Lease Commencement Date shall be February 28, 1997, and the expiration of the Lease Term shall occur on February 15, 2003. (b) Any entry and/or occupancy of the Premises by Tenant, its agents, employees or contractors prior to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy Date shall be at Tenant's sole risk, and deemed pursuant to, and subject to to, all of the terms and provisions of this Lease; provided, such however, in no event shall Tenant, its agents, employees or contractors be entitled to enter the Premises or take occupancy shall not change thereof prior to the termination datedate it receives Landlord's notice that the same are Ready for Occupancy except for the "Early Work", and Tenant shall pay rent for such occupancyas set forth in Exhibit C hereto.

Appears in 1 contract

Samples: Lease (Creditrust Corp)

Commencement Date. This Lease, and the obligation to pay Minimum Annual Rent and additional Rent hereunder (subject to any rent-free period as provided under Section 4(c) above), shall commence on the date (the “Commencement Date”) that is the earlier to occur of: (i) The Monday following Tenant’s occupancy of substantially all of the Premises for the purpose of conducting Tenant’s business in and from the Premises (Tenant plans to move into and occupy the Building in phases over several weeks and the fact that Tenant occupies and opens for business in a part, but less than substantially all, of the Premises shall not in itself trigger Lease Commencement); (ii) If Tenant uses a contractor other than Landlord’s Base Building general contractor for the construction of the Initial Tenant Improvements, the later of (1) 120 days after the Tenant Access Date, or (2) 60 days after the substantial completion of the Base Building and Site Improvements, it being the intent of the parties that if Tenant uses a contractor other than Landlord’s general contractor, Tenant shall have nonexclusive and unrestricted (subject to the provisions of Section 5(a) above) access to the Premises for the 60-day period from 120 days to 60 days prior to the Commencement Date and exclusive access to the Premises (other than access on the part of Landlord or its Agents to complete punchlist items, conduct inspections, or complete any items of unfinished work provided such access does not interfere with or delay Tenant’s work) for the 60-days preceding the Commencement Date. (iii) If Tenant uses Landlord’s general contractor for the construction of the Initial Tenant Improvements, the later of (i) the first Monday following the date that is 60 days after the date of substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant’s equipment, furniture and personal property; this work is contemplated to occur during the 60-day period following the substantial completion of the Initial Tenant Improvements), or (ii) the date of substantial completion by Landlord of the Base Building and Site Improvements. Tenant shall use all reasonable diligence to cause substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant’s equipment, furniture and personal property; this work is contemplated to occur during the 60-day period following the substantial completion of the Initial Tenant Improvements) to occur within 60 days of the Tenant Access Date. Without limiting the foregoing, If Tenant uses Landlord’s general contractor for the construction of the Initial Tenant Improvements, Tenant shall contract with Landlord’s general contractor, and provide Landlord’s general contractor with construction plans and specifications, material selections and other appropriate information sufficiently in advance of the Tenant Access Date so that such general contractor can commence construction of the Initial Tenant Improvements as of the Tenant Access Date and proceed with construction without delay resulting from failure of Tenant to timely approve plans or select materials. Tenant’s construction contract shall obligate such general contractor to substantially complete the Initial Tenant Improvements within 60 days of the Tenant Access Date. If construction of the Initial Tenant Improvements is delayed as a result of any such delay caused by Tenant, the Commencement Date shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("this Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1would have commenced but for such delay. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if The 60-day period for any reason Landlord cannot deliver possession completion of the Premises Initial Tenant Improvements contemplated in subsections (ii) and (iii) above shall be extended for delay resulting from Force Majeure events, applying to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity same definition of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing “Force Majeure” applicable to Landlord within ten (10under Section 4(c) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectabove. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (Kroll Inc)

Commencement Date. The "Commencement Date Date" shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described defined in Section 14 belowEXHIBIT C) is substantially completed Substantially Complete (as determined by defined in EXHIBIT C), provided, however, that if as part of Landlord's Work, Landlord has not on or before March 15, 2000 (subject to Tenant Delays) laid down a sufficient amount of carpeting, in Landlord's reasonable judgment, to enable Tenant to commence Tenant's Work (as defined in EXHIBIT C) and to prosecute such work continuously to completion on or before April 1, 2000 (the "Rental Commencement Delivery Date"). 2.2.1. Notwithstanding , the Scheduled Commencement Date shall be no earlier than May 1, 2000. Occupancy of the Premises by Tenant prior to the Commencement Date shall be at Tenant's sole risk and deemed pursuant to, and subject to, all of the terms and provisions of this Lease, including the payment of Base Rent, Costs of Electricity, and Tenant's Share of Expense Increases and Tax Increases (as such terms are hereinafter defined), except as may otherwise be expressly set forth herein; provided, however, that except as may be set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such caseEXHIBIT C hereto, Tenant shall not be obligated entitled to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession take occupancy of the Premises or any portion thereof prior to the date it receives notice from Landlord that Landlord's Work is delivered Substantially Complete. Subject to Tenant. If, howeverForce Majeure and Tenant Delays, Landlord will use all reasonable and diligent efforts to achieve Substantial Completion of Landlord's Work on or before the Delivery Date. Subject to Force Majeure, in the event that the Commencement Date, as established hereby and pursuant to the operation of the provisions of EXHIBIT C regarding Tenant Delays, occurs after the Delivery Date, Tenant's Rent (as defined in Section 1.5 below) hereunder shall abatx xx one (1) day for each day that the Commencement Date follows the Delivery Date. Notwithstanding the foregoing, in the event Substantial Completion shall not have delivered possession occurred on or prior to that day which is six (6) months after the execution hereof, subject to an additional period of up to three (3) months if Substantial Completion is delayed by the Premises within ninety occurrence of one or more events of Force Majeure (90) days following said Scheduled Commencement Date for any reasonthe "Outside Delivery Date"), other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, shall be permitted to terminate this Lease by written notice in writing given to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by TenantOutside Delivery Date. If such written notice of intent to cancel by Tenant is not timely received by Landlordso given, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel so terminate this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premiseshave been waived. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (MCK Communications Inc)

Commencement Date. The Commencement Date shall of the Lease will be the earliest last to occur of (the 503B Commencement Date and the Pharmacy Commencement Date, as said terms are defined below in this Section 1.17. Subject to the right of termination as to the 503B Space set forth in Section 6 of Exhibit “A”, the “503B Commencement Date” will be deemed to have occurred upon the earlier of: a) the date on which Tenant takes possession day immediately after expiration of or commences business operations upon the Premises or any part thereof Early Occupancy Period ("Lease Commencement Date"as said term is defined in Section 5 of Exhibit “A”); or (, b) the date on which Tenant commences full scale business operations within the 503B Space, having received all of the Approvals; and, c) the date Tenant advises Landlord's Work (, in writing, of its waiver of the right to terminate the portion of this Lease applicable to the 503B Space, as described in Section 14 below) said right of termination is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in Section 6 of Exhibit “A”. The “Pharmacy Commencement Date” will be deemed to have occurred upon the Basic Lease Provisionsearlier of: a) two hundred twenty-five (225) days after the Delivery Date of the NCO Space; and, b) the date Tenant commences full scale business operations within the Pharmacy Space. Landlord acknowledges that Tenant will not be deemed to have commenced full scale business operations within the Pharmacy Space as a result of the use thereof by up to fifty-five (55) employees of Tenant working in its call center. However, if more than fifty-five (55) employees of Tenant are working in any portion of the Pharmacy Space, but Tenant is not then utilizing at least seventy-five percent (75%) of the Pharmacy space for any reason Landlord cannot deliver possession the conduct of its business, then Tenant will pay Annual Base Rent for that portion of the Premises to Tenant on that is occupied by said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect employees at the validity rate of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case$15.75/RSF/year. Upon determination, Tenant shall not be obligated to pay rent or perform any shall, upon Landlord’s request, execute and deliver a written statement specifying the Commencement Date, Expiration Date and other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession pertinent dates of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays Term as defined in the Work Letter form that is attached hereto as Exhibit "D," Tenant may, at Tenant's option, “G” and is by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectreference incorporated herein. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement (HS Spinco, Inc.)

Commencement Date. 1. The commencement date (“Commencement Date”) for this Lease is the date set forth in the Schedule; provided, however, that (a) if the Substantial Completion Date fails to occur on or before December 29, 2003 for any reason, (i) this Lease shall not be void or voidable by either party, (ii) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and (iii) the Commencement Date shall be revised to mean the earliest of Substantial Completion Date; and (ab) the date on which if Tenant takes possession of or commences business operations upon in any portion of the Premises or any part thereof ("Lease prior to the Commencement Date"); or (b) , the Commencement Date shall be deemed to have occurred on the date on which Tenant commences business operations in the Premises. Notwithstanding the foregoing, if Landlord is delayed in completing Landlord's ’s Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth defined in the Basic Lease Provisions, if for any reason Landlord cannot deliver Tenant Improvement Agreement attached hereto as Exhibit C) or in delivering possession of the Premises to Tenant as a result of any Tenant Delay (as defined in Section 4 of Exhibit C), the Substantial Completion Date shall be deemed to have occurred on said datethe date the Substantial Completion Date would have occurred in the absence of such Tenant Delay, as reasonably determined by Landlord or Landlord’s architect. Tenant shall be responsible for and shall pay any additional costs and expenses incurred by Landlord in connection with the completion of Landlord’s Work as a result of any Tenant Delay. Notwithstanding the foregoing, if the Substantial Completion Date does not be subject to any liability thereforoccur on or before May 31, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case2004, Tenant shall not be obligated have the right to pay rent or perform any terminate this Lease by delivery of written notice to Landlord no later than June 15, 2004. 2. If the Commencement Date is other obligations of Tenant under the terms of this Leasethan December 29, except as may be otherwise provided in this Lease2003, until possession of the Premises is delivered to Tenant. If, however, then Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled prepare and deliver to Tenant a Commencement Date for any reason, other than Tenant's Delays as defined Confirmation substantially in the Work Letter form attached hereto as Exhibit "D," D that sets forth both the Commencement Date and Termination Date for this Lease. Tenant may, at Tenant's option, by notice in writing shall execute the Commencement Date Confirmation and deliver the executed original of the same to Landlord within ten three (103) business days thereafterafter Tenant’s receipt thereof. Provided that Tenant has not objected in writing within such three (3) business day period to the Commencement Date or Termination Date set forth in the Commencement Date Confirmation, advise Tenant’s failure to timely execute and return the Commencement Date Confirmation document to Landlord shall be conclusive evidence of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to ’s agreement with the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancelinformation as set forth therein. 3. This Lease shall thereafter be canceleda binding contractual obligation effective upon execution and delivery hereof by Landlord and Tenant, and notwithstanding the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession later commencement of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the PremisesTerm. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Pericom Semiconductor Corp)

Commencement Date. The Commencement Date shall be the earliest later of (ai) full execution of the Initial Mortgagee SNDA (as defined in Section 23.01), (ii) full execution of the Initial Condominium Recognition and Attornment Agreement (as defined in Section 23.01), and (iii) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work Substantial Completion Date (as described defined in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"Exhibit B attached hereto). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisionsforegoing, if for any reason Landlord cannot Tenant fails to duly execute and deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect Initial Mortgagee SNDA and/or the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing Initial Condominium Recognition and Attornment Agreement to Landlord within ten (10) business days thereafterfollowing Landlord’s demand therefor, advise Landlord provided such Initial Mortgagee SNDA and/or the Initial Condominium Recognition and Attornment Agreement, as applicable, comply with Section 23.01 below, the occurrence of Tenant's intent the Commencement Date shall no longer be conditioned upon the full execution of the Initial Mortgagee SNDA and/or the Initial Condominium Recognition and Attornment Agreement, as applicable, pursuant to cancel subclauses (i) and/or (ii) above, as applicable, and Tenant shall be deemed to have waived such requirement for all purposes of this Lease. Within Promptly following the Commencement Date, Landlord shall deliver to Tenant a Confirmation of Lease Terms and Dates substantially in the form attached hereto as Exhibit C, and Tenant shall have ten (10) business days after its receipt of thereafter to execute and remit the same to Landlord; provided, however, either party’s failure to so execute and deliver such notice, Landlord instrument shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to not affect in any manner whatsoever the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession validity of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject the Rent Commencement Date, the Expiration Date as determined pursuant to all provisions the terms of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancyor Landlord’s or Tenant’s obligations under this Lease.

Appears in 1 contract

Samples: Office Lease (Schrodinger, Inc.)

Commencement Date. The Commencement Date shall be the earliest of (a) If Tenant Does Not Utilize Full Service Space Planner. If Tenant does not employ a Full Service Space Planner under the date terms of subparagraph 3.1(b), below, then the following provisions of this subparagraph 3.1 (a) shall apply. The term of the Lease under Section 1.5 of the Lease shall commence on which Tenant takes possession of or commences business operations upon the Premises or any part thereof earlier of: ("Lease Commencement Date"i) thirty (30) days after the Completion Date (as the Completion Date is defined in Paragraph 1.3, above); or (bii) the date on which Landlord's Work a certificate of occupancy (as described in Section 14 beloweither temporary or permanent) is substantially completed issued for the Tenant Improvements, a final inspection approval is issued for the Tenant Improvements or the City of Calabasas otherwise allows Tenant's occupancy of the Tenant Improvements. Such date is herein referred to as determined by Landlord (the "Rental Commencement Date")" of the Lease. Landlord and Tenant recognize that the Commencement Date of the Lease could occur prior to the completion of construction of the Tenant Improvements. 2.2.1(b) If Tenant Utilizes a Full Service Space Planner. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to If Tenant on said dateor before July 1, Landlord 1998 Engages a "Full Service Space Planner" approved by Landlord, which approval shall not be subject unreasonably withheld, to any liability thereforprovide all of the architectural, nor shall such failure affect engineering, construction supervision and design services for the validity of this Lease or the obligations of Tenant hereunder or extend Improvements, then the term hereof; but in such case, Tenant of the Lease under Section 1.5 of the Lease shall commence on the first to occur (a) shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenantapply. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Such Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten under this subparagraph 3.1 (10b) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten shall occur: (10i) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when one (1) day earlier than the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said defined Commencement Date, such occupancy above, for each day that a "Tenant Delay" as defined below causes a delay in the construction of the Tenant Improvements or the Shell; (ii) one (1) day earlier than the defined Commencement Date, above, for each day that Tenant's general contractor takes longer than one hundred eight (108) days to complete construction of the Tenant Improvements from the date that Landlord makes the Shell available to Tenant for the commencement of construction of the Tenant Improvements; and (iii) one (1) day earlier than the defined Commencement Date, above, for each day that the Final Plans and Specifications are completed after September 15, 1998; except that if Tenant Engages by July 1, 1998 H. Hxxxx Xxxociates as a Full Service Space Planner, then subparagraphs 3.1(b)(ii) and (iii) shall not apply. The following items causing a delay in construction of the Tenant Improvements or the Shell shall be subject to all provisions of a "Tenant Delay" under this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.subparagraph 3.1

Appears in 1 contract

Samples: Industrial Real Estate Lease (Netcom Systems Inc)

Commencement Date. The Commencement Date shall be the earliest of (a) From and after the date Effective Date, the terms and provisions of this Lease shall be fully binding on which Tenant takes Landlord and Tenant, including prior to the occurrence of the Commencement Date. (b) If Landlord does not tender possession of or commences business operations upon the Premises or any part portion thereof to Tenant on any specified date, for any reason whatsoever, this Lease shall not be void or voidable as a result thereof, Landlord shall not be liable for any damage thereby caused, such failure shall not affect any other obligations of Tenant hereunder ("Lease except as expressly provided in this Section, in the definition of the Commencement Date and in Section 4.3), and the Term shall not commence until Landlord tenders possession of the Premises to Tenant. There shall be no postponement of the Commencement Date and/or the Rent Commencement Date for (i) any delay in the tender of possession to Tenant which results from any Tenant Delay or (ii) any delays by Landlord in the performance of any punch list items related to Landlord’s Work. (c) Once the Rent Commencement Date has been determined, Landlord shall prepare and the parties shall join in a memorandum confirming the Commencement Date"); or (b) , the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Rent Commencement Date"). 2.2.1, the Fixed Rent, the amount of Landlord’s Contribution, Tenant’s Proportionate Share, the Area of the Premises, the Area of the Building and the Expiration Date. Notwithstanding Pending the Scheduled Commencement Date set forth execution of such memorandum, each of said items shall be as specified in the Basic Lease Provisions, if for any reason Landlord cannot . Landlord’s failure to deliver possession of the Premises to Tenant on said date, Landlord foregoing memorandum shall not be subject to any liability therefor, nor shall such failure affect the validity determination of this Lease any of such dates or the obligations amounts. If Tenant fails to give Landlord written notice that Tenant contests Landlord’s determination of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined information contained in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord memorandum within ten thirty (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (1030) days after its receipt of Tenant receives such commencement notice, Landlord shall submit deliver Tenant an additional notice regarding the Landlord’s determination of the Commencement Date, which notice must state “SECOND AND FINAL REQUEST” in 12 font bold print at the top of the first page of the notice. If Tenant fails to give Landlord written notice that Tenant a statement contests Landlord’s determination within five (5) Business Days of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaidsecond notice, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises Tenant shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premiseshave accepted such determination(s). 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Deed of Lease (FBR & Co.)

Commencement Date. The Landlord represents to Tenant, and Tenant acknowledges, that (i) Landlord's existing lease with Altera Corporation ("Altera") for the Premises expires on July 4, 1997, (ii) that Altera has a "hold-over" right to remain in the Premises for up to three (3) months after the July 4, 1997 date, and (iii) Altera must exercise its "hold-over" right and state the length of the hold-over period no later than February 1, 1997. Therefore, the Commencement Date of August 3, 1997 of this Lease shall be the earliest of delayed for up to three (a3) months beyond August 3, 1997 (i) only if Landlord provides written notice to Tenant that Altera has exercised its "hold-over" right, and (ii) the date on which Tenant takes possession Commencement Date of or commences business operations upon the Premises or any part thereof ("this Lease Commencement Date"); or (b) the date on which shall be delayed a period equal to Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1written notice to Tenant stating the period of time of Altera's hold-over, which notice shall be delivered to Tenant no later than February 15, 1997. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord canIf Altera does not deliver possession of the Premises to Tenant Landlord on said or before the date Altera is required to surrender, whether such date is July 4, 1997, or an extended date set by a hold-over notice, then the Commencement Date shall be delayed one day for every day beyond such required surrender date, Landlord during which Altera continues in possession of the Premises. Although the Commencement Date shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, affected by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt Substantial Completion of Tenant's notice Interior Improvements under Exhibit "B" hereto, Landlord agrees that it will keep Tenant advised on negotiations for the construction contract with the Prime Contractor, that it will provide in such contract for penalties for delay in completion of intent to cancel. This Lease shall thereafter be canceledconstruction by the Prime Contractor, and that Tenant will have the parties shall right to approve the Prime Construction Contract, approval not be discharged from all obligations hereunderunreasonably withheld or delayed, if and only if Tenant reimburses Landlord solely with regard to the timeline schedule for all such costs and expenses as stated construction, the penalties which are to be charged to the Prime Contractor in Landlord's notice within ten (10) days after Tenant's receipt thereofthe event of delay, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectconstruction warranties. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Quickturn Design Systems Inc)

Commencement Date. The Commencement Date shall be the earliest of (a) As herein used, the phrase “commencement date” shall mean the earlier of: (i) the day Sublessee opens for business in the demised premises, or (ii) ninety (90) days after Sublessor has delivered to Sublessee possession of the demised premises as same are to be substantially completed by Sublessor and ready for occupancy, as in (b) below. The anticipated delivery date is within six (6) months of a fully executed sublease agreement. Sublessee shall not be required to accept delivery between 11-01-00 and 01-31-01. Should Sublessee not receive possession by 01-31-01, Sublessee at its option may terminate this sublease agreement by notice to Sublessor at any time prior to delivery of possession of the demised premises to Sublessee. Notwithstanding the above, Sublessor shall give Sublessee at least sixty (60) days advance written notice of its anticipated delivery date, so that Sublessee might plan accordingly. (b) Possession of the demised premises shall not be deemed to have been given to Sublessee unless the demised premises are ready for the installation of Sublessee’s fixtures and finishing work by Sublessee, and are free of any violation of laws, ordinances, regulations and building restrictions relating to the possession or use of or construction upon the demised premises. Sublessor’s work is listed on Exhibit “B”, attached hereto and made a part hereof. (c) Prior to the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to TenantSublessee as aforesaid, Sublessee shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and receiving merchandise and other property, provided that it does not unreasonably interfere with Sublessor’s construction activities. If, however, Landlord shall not have delivered possession of the Premises All work other than that to be performed by Sublessor is to be done by Sublessee within ninety (90) days following said Scheduled Commencement Date for any reasonafter the date possession of the demised premises has been delivered to Sublessee, other than Tenant's Delays at Sublessee’s expense in accordance with the provisions of this Sublease and as defined set forth in the schedule entitled Description of Sublessee’s Work Letter and attached hereto as Exhibit "D," Tenant may“C” and made a part hereof. (d) From the date upon which the demised premises are delivered to Sublessee for its work until the commencement date of the sublease term, at Tenant's optionSublessee shall observe and perform all of its obligations under this Sublease (except its obligation to operate and to pay minimum rent, by notice percentage rent, its pro rata share of maintenance costs, provided for in writing Section 16 hereof, its pro rata share of real estate taxes provided for in Section 28 hereof and its prorata share of insurance provided for in Section 29 hereof). In the event Sublessee fails to Landlord open for business within ten ninety (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (1090) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date possession of Landlord's receipt of Tenant's notice of intent the demised premises has been delivered to cancel. This Lease shall thereafter be canceledSublessee, Sublessor, in addition to any and the parties shall be discharged from all obligations hereunderother available remedies, if may require Sublessee to pay to Sublessor, in addition to all other rent and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlordcharges herein, as aforesaidliquidated damages and not as a penalty, then in either such event Tenant's right an amount equal to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession one-one hundred eightieth (1/180) of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay annual minimum rent for each day such occupancyfailure to open continues.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Retail Ventures Inc)

Commencement Date. The Commencement (a) As herein used, the phrase “commencement date” shall mean the earlier of: (i) the day Tenant opens for business in the demised premises, or (ii) one hundred twenty (120) days after Landlord has delivered to Tenant possession of the demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the demised premises to Tenant with Landlord’s Work (as set forth on Exhibit “B”, attached hereto and made a part hereof) completed between July 1, 2006 and October 15, 2006 (the “Delivery Period”). Landlord shall give Tenant notice (the “Estimated Delivery Notice”) no later than July 1, 2006 of the status of Landlord’s construction and the estimated date that Landlord shall deliver the Premises to Tenant with Landlord’s Work substantially completed (the “Estimated Delivery Date”). Landlord may, but is under no obligation, to revise the Estimated Delivery Date any time prior to thirty (30) days prior to the Estimated Delivery Date (the “Final Delivery Notice Date”), by which time Landlord shall have given Tenant a final notice (the “Final Delivery Notice”) of a firm delivery date (the “Final Delivery Date”) upon which the Landlord’s Work shall be substantially completed and the demised premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. However, if Landlord has not delivered a Final Delivery Notice by the Final Delivery Notice Date, then the Estimated Delivery Notice shall be the Final Delivery Notice and the Estimated Delivery Date shall be the earliest of Final Delivery Date. The Final Delivery Date shall not be earlier than (ai) thirty (30) days after the date Tenant receives the Final Delivery Notice, or (ii) the date first day of the Delivery Period. If Landlord does not deliver the demised premises to Tenant as required herein by October 15, 2006, Tenant may defer delivery until January 2, 2007. If Landlord does not deliver the demised premises to Tenant thereafter on which or before July 1, 2007, Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1may terminate this Lease. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisionsforegoing, if for any reason Landlord cannot Landlord’s failure to deliver possession of the Premises demised premises to Tenant on said dateor before July 1, 2007 is due to an event of force majeure which occurs on or after May 1, 2007, Tenant may not exercise its right to terminate the Lease pursuant to this Section 3(a) for an additional ninety (90) day period. In the event that the demised premises and Landlord’s Work are not substantially completed and delivered to Tenant on or before the Final Delivery Date, the minimum rent due hereunder shall be adjusted so that, after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (1) day of minimum rent for each day after the Final Delivery Date until delivery of the demised premises is made to Tenant consistent with the terms of this Lease, including substantial completion of the Landlord’s Work (“Late Delivery Credit”). In the event Landlord does not provide to Tenant a Final Delivery Notice as required herein and the demised premises and Landlord’s Work is not substantially completed and delivered to Tenant on or before the Final Delivery Date, the Late Delivery Credit shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, exceed One Hundred Fifty Thousand Dollars and 0/00 ($150,000.00). Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until accept possession of the demised premises prior to the later of (a) substantial completion of Landlord’s Work, (b) the first day of the Delivery Period and (c) the Final Delivery Date. Time is of the essence regarding all dates set forth in this Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work at the demised premises so that Tenant may obtain a building permit for Tenant’s Work and commence performance of the same. (b) Possession of the demised premises shall not be deemed to have been given to Tenant unless the demised premises are ready for the installation of Tenant’s fixtures and finishing work by Tenant, and are free of any violation of laws, ordinances, regulations and building restrictions relating to the possession or use of or construction upon the demised premises, and until Landlord has substantially completed Landlord’s Work. Tenant shall supply Landlord with Tenant’s prototypical plans and specifications, and Landlord shall prepare plans and specifications for the Premises at Landlord’s expense, for Tenant’s approval. All such Landlord’s Work shall be done at Landlord’s expense and in compliance with all applicable federal, state and local laws, rules, regulations and code requirements. Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work at the demised premises as part of Landlord’s Work. (c) Prior to the date on which possession is delivered to TenantTenant as aforesaid, Tenant shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and receiving merchandise and other property, provided that it does not unreasonably interfere with Landlord’s construction activities. If, however, All work other than that to be performed by Landlord shall not have delivered possession of the Premises is to be done by Tenant within ninety (90) days following said Scheduled Commencement Date for any reasonafter the date possession of the demised premises has been delivered to Tenant, other than at Tenant's Delays ’s expense in accordance with the provisions of this Lease and as defined set forth in the schedule entitled Description of Tenant’s Work Letter and attached hereto as Exhibit "D," “C” and made a part hereof. All Tenant’s Work shall be performed lien free by Tenant, in a good and workmanlike manner (employing materials of good quality) in compliance with all governmental requirements. In the event a mechanic’s lien is filed against the demised premises or the Shopping Center on account of Tenant’s Work, Tenant may, at Tenant's option, by notice in writing to Landlord shall discharge or bond off same within ten (10) days thereafterfrom the filing thereof. If Tenant fails to discharge said lien, advise Landlord may bond off or pay same without inquiring into the validity or merits of such lien, and all sums so advanced shall be paid on demand by Tenant as additional rent. (d) From the date upon which the demised premises are delivered to Tenant for its work until the commencement date of the lease term, Tenant shall observe and perform all of its obligations under this Lease (except Tenant's intent ’s obligation to cancel this Leaseoperate and pay minimum rent, percentage rent and “Tenant’s Proportionate Share” (defined in Section 16(c) below) of “Maintenance Costs” (defined and provided for in Section 16(b) hereof) “real estate taxes” (defined and provided for in Section 28(b) hereof) and insurance (provided for in Section 28 hereof). Within ten In the event Tenant fails to open for business within one hundred twenty (10120) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date possession of Landlord's receipt of the demised premises has been delivered to Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs in addition to any and expenses is not timely received by all other available remedies, may require Tenant to pay to Landlord, in addition to all other rent and charges herein, as aforesaidliquidated damages and not as a penalty, then in either such event Tenant's right an amount equal to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession one-three hundred sixty five thousandths (1/365) of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay annual minimum rent for each day such occupancyfailure to open continues.

Appears in 1 contract

Samples: Lease Agreement (Retail Ventures Inc)

Commencement Date. The commencement date for the Landlord Build Premises (the “Landlord Build Premises Commencement Date Date”) shall be occur on the earliest later of (a) December 1, 2018, or (b) subject to the terms of Exhibit D hereto, sixty (60) days following the Substantial Completion of the Landlord’s Work (as such terms are defined in the Work Letter attached as Exhibit D hereto), such sixty (60) day period being referred to herein as the “Tenant Build Out Period”) . The commencement date for the First Floor South Wing Premises (the “First Floor South Wing Premises Commencement Date”) shall occur on the earlier of (a) the date on which Tenant takes possession of or commences occupies the First Floor South Wing Premises and begins conducting business operations upon the Premises or any part thereof ("Lease Commencement Date"); therein, or (b) December 1, 2018. The phrase “begins conducting business” (and other phrases of similar import) shall not include use of the applicable portion of the Premises by Tenant solely for the storage, construction, staging or the construction or installation of Tenant’s Work by Tenant pursuant to Exhibit D of this Lease. As used herein, the term “Commencement Date” shall mean the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by both the First Floor South Wing Premises Commencement Date and the Landlord ("Rental Build Premises Commencement Date"). 2.2.1Date have occurred. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisionsforegoing, if Tenant desires to begin conducting business in all or any part of the First Floor South Wing Premises, the First Floor North Wing Premises, the Fifth Floor Premises, or the Sixth Floor Premises after the same are ready for any reason Landlord cannot deliver possession occupancy but prior to December 1, 2018 (the applicable portion of the Premises being referred to Tenant on said dateherein as the “Early Occupancy Space”), Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, then Tenant shall not have the right to commence such business operations therein by providing written notice to Landlord prior to such use; provided, however, that (1) Tenant shall commence paying Rent hereunder; provided, however, that the Rent due hereunder shall be obligated to pay rent or perform any other obligations prorated based on a fraction the numerator of Tenant under which is the Rentable Area of the Early Occupancy Space and the denominator of which is the Rentable Area of the Premises; (2) such use shall otherwise be in strict accordance with all of the terms and conditions of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, ; and (3) such use shall not accelerate the Commencement Date hereunder. For the avoidance of doubt, Tenant has reasonable access acknowledges and agrees that if Tenant exercises its right to commence business in the First Floor South Wing Premises. 2.2.3. If Tenant occupies , the First Floor North Wing Premises, the Fifth Floor Premises or the Sixth Floor Premises, whether concurrently or serially, prior to said December 1, 2018, then the first date on which Tenant so operates within the entire Premises shall constitute the Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancyDate hereunder.

Appears in 1 contract

Samples: Lease Agreement (Cerus Corp)

Commencement Date. The Commencement Date shall be the earliest of (a) As herein used, the date on which phrase "commencement date" shall mean the earlier of: (i) the day Tenant takes opens for business in the demised premises, or (ii) ninety (90) days after Landlord has delivered to Tenant possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the date on which demised premises to Tenant with Landlord's Work (as described in Section 14 belowset forth on Exhibit "B", attached hereto and made a part hereof) is substantially completed as determined by Landlord between July 1, 2005 and August 15, 2005 (the "Rental Commencement DateDelivery Period"). 2.2.1. Notwithstanding Landlord shall give Tenant notice (the Scheduled Commencement Date set forth in "Estimated Delivery Notice") no later than May 1, 2005 of the Basic Lease Provisions, if for any reason status of Landlord's construction and the estimated date that Landlord cannot shall deliver possession of the Premises to Tenant on said datewith Landlord's Work substantially completed (the "Estimated Delivery Date"). Landlord may, but is under no obligation, to revise the Estimated Delivery Date any time prior to thirty (30) days prior to the Estimated Delivery Date (the "Final Delivery Notice Date"), by which time Landlord shall have given Tenant a final notice (the "Final Delivery Notice") of a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work shall be substantially completed and the Leased Premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. However, if Landlord has not delivered a Final Delivery Notice by the Final Delivery Notice Date, then the Estimated Delivery Notice shall be the Final Delivery Notice and the Estimated Delivery Date shall be the Final Delivery Date. The Final Delivery Date shall not be subject earlier than (i) thirty (30) days after the date Tenant receives the Final Delivery Notice, or (ii) the first day of the Delivery Period. If Landlord does not deliver the demised premises to any liability thereforTenant as required herein by August 15, nor shall such failure affect 2005, Tenant may defer delivery until January 2, 2006. If Landlord does not deliver the validity of demised premises to Tenant thereafter on or before July 1, 2006, Tenant may terminate this Lease or defer delivery until December 1, 2006. In the obligations event that the demised premises and Landlord's Work are not substantially completed and delivered to Tenant on or before the Final Delivery Date, the minimum rent due hereunder shall be adjusted so that, after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (1) day of minimum rent for each day after the Final Delivery Date until delivery of the demised premises is made to Tenant hereunder or extend consistent with the term hereof; but in such caseterms of this Lease, including substantial completion of the Landlord's Work. Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until accept possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements demised premises prior to the Premises up to the date later of (a) substantial completion of Landlord's receipt Work, (b) the first day of the Delivery Period and (c) the Final Delivery Date. Time is of the essence regarding all dates set forth in this Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord's Work at the demised premises so that Tenant may obtain a building permit for Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, Work and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession commence performance of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premisessame. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Retail Ventures Inc)

Commencement Date. (A) The Commencement Date term of this Lease shall be the earliest of (a) commence on the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by that Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver delivers vacant and exclusive possession of the Premises to Tenant on said date, with Landlord’s Premises Work Substantially Complete (such date that Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until delivers vacant and exclusive possession of the Premises is delivered to TenantTenant with Landlord’s Premises Work Substantially Complete being referred to herein as the “Commencement Date”). If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," give Tenant may, at Tenant's option, by notice in writing to Landlord within least ten (10) days thereafteradvance notice of the occurrence of the Commencement Date (it being understood that Landlord shall have the right to give more than one (1) such notice as hereinafter provided), advise with the understanding, however, that (x) Landlord of shall not be in default if the Commencement Date occurs earlier or later than the date that Landlord specifies in any such notice to Tenant's intent , provided that Landlord gives such notice to cancel Tenant in good faith, and (y) the Commencement Date shall occur as otherwise provided in this Lease. Within ten (10) days after its receipt of Lease notwithstanding that the Commencement Date occurs earlier or later than the date that Landlord specifies in any such notice, provided that Landlord gives such notice to Tenant in good faith. (B) Landlord shall submit use commercially reasonable efforts to Substantially Complete Landlord’s Premises Work on or prior October 1, 2021. If Landlord’s Premises Work is not Substantially Complete on or prior to January 1, 2022, as such date may be adjourned by periods of Unavoidable Delays (including, without limitation, Epidemic/Pandemic Unavoidable Delays) (but not to exceed sixty (60) days in the aggregate for any Unavoidable Delays other than Epidemic/Pandemic Unavoidable Delays), Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements Work Delays and/or Long Lead Work (such date, as the same may be so adjourned, the “First Outside Date”), then each Applicable Rent Commencement Date shall be adjourned, as Tenant’s sole remedy, subject to the other remedy in this Section 1.2(B), by one (1) day for each day occurring during the period commencing on the First Outside Date until the earlier to occur of (i) day immediately preceding the date Landlord’s Premises up Work is Substantially Complete, and (ii) the Second Outside Date. If Landlord’s Premises Work is not Substantially Complete on or prior to April 1, 2022, as such date may be adjourned by periods of Unavoidable Delays (including, without limitation, Epidemic/Pandemic Unavoidable Delays) (but not to exceed sixty (60) days in the aggregate for any Unavoidable Delays other than Epidemic/Pandemic Unavoidable Delays), Tenant Work Delays and/or Long Lead Work (such date, as the same may be so adjourned, the “Second Outside Date”), then each Applicable Rent Commencement Date shall be adjourned, as Tenant’s sole remedy, subject to the other remedy in this Section 1.2(B), by two (2) days for each day occurring during the period commencing on the Second Outside Date until the day immediately preceding the date Landlord’s Premises Work is Substantially Complete. If Landlord’s Premises Work is not Substantially Complete on or prior to the date that a Successor succeeds to Landlord’s interest in the Real Property as provided in Article 13 hereof, as such date may be adjourned by periods of Unavoidable Delays (including, without limitation, Epidemic/Pandemic Unavoidable Delays) (but not to exceed sixty (60) days in the aggregate for any Unavoidable Delays other than Epidemic/Pandemic Unavoidable Delays), Tenant Work Delays and/or Long Lead Work (such date, as the same may be so extended, the “Third Outside Date”) then Tenant, as Tenant’s sole remedy, subject to the other remedies expressly set forth in this Section 1.2(B), shall have the right to terminate this Lease by giving notice thereof (a “Termination Notice”) to Landlord no later than the thirtieth (30th) day after the Third Outside Date (as to which thirtieth (30th) day time shall be of the essence). If Tenant delivers the Termination Notice to Landlord and Landlord's receipt ’s Premises Work is not Substantially Complete on or prior to the fifth (5th) day after Tenant’s delivery of Tenant's notice of intent to cancel. This the Termination Notice, then this Lease shall thereafter be canceledautomatically terminate on such fifth (5th) day; it being understood, and the parties shall be discharged from all obligations hereunderhowever, that if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited deliver the Premises to Tenant with Landlord’s Premises Work Substantially Complete by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaidfifth (5th) day, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises Termination Notice shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under null and void and this Lease are substantially completed, (2) the Building Utilities are ready for use shall remain in the Premises, full force and (3) effect and Tenant has reasonable access shall have no further right to the Premises. 2.2.3terminate this Lease pursuant to this Section 1.2(B). If Tenant occupies the Premises prior effectively exercises such aforesaid right to said Commencement Date, such occupancy shall be subject to all provisions of terminate this Lease, such occupancy then, subject to the terms hereof, from and after the Third Outside Date, neither party shall not change have any further rights or obligations hereunder except for those obligations which expressly survive the termination dateExpiration Date. For purposes of clarity, Landlord and Tenant agree that there shall pay rent for such occupancybe no cap on the number of days that the First Outside Date, the Second Outside Date and the Third Outside Date are each adjourned as a result of Epidemic/Pandemic Unavoidable Delays.

Appears in 1 contract

Samples: Lease Agreement (fuboTV Inc. /FL)

Commencement Date. The (a) Notwithstanding any provision to the contrary contained in the Lease, and subject to the terms and conditions contained herein, the commencement date of the Lease for the Expansion Space shall be September 1, 2006 (the “Expansion Space Commencement Date”). Landlord will deliver to Tenant and Tenant will accept the Expansion Space on the Expansion Space Commencement Date in its “as-is” condition. Tenant acknowledges that neither Landlord nor its agents or employees have made any representations or warranties as to the suitability or fitness of the Expansion Space for the conduct of Tenant’s business or for any other purpose. Neither Landlord nor its agents or employees have agreed to undertake any alterations or construct any tenant improvements to the Original Premises or the Expansion Space. (b) Even though the Expansion Period commences on the Expansion Space Commencement Date, Tenant shall be permitted to occupy the Expansion Space upon mutual execution of this Second Amendment and Tenant’s payment of the first months Rent due for the Expansion Period (“Early Occupancy”). Tenant’s Early Occupancy of the Expansion Space is conditioned upon Tenant’s agreement to be responsible for all other obligations existing under the Lease. Any early entry will be at Tenant’s sole risk and subject to all the terms and provisions of this Lease as though the Expansion Space Commencement Date had occurred, except for the payment of Rent (other than the first months Rent), which will commence on the Commencement Date. (c) Tenant shall diligently apply for all licenses and permits in relation to the Expansion Space. In the event Tenant’s receipt of its business license is delayed due to requirements resulting from the fire inspection to be done during the permitting process, the Commencement Date shall be the earliest of delayed only if (ai) the date on which Tenant takes possession of or commences business operations upon fire inspection requires certain work be done to the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject Expansion Space prior to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premisesoccupancy, and (3ii) Tenant has reasonable access the work required is due to the Premises. 2.2.3. If Tenant occupies the Premises conditions that existed prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancyTenant’s Early Occupancy period.

Appears in 1 contract

Samples: Lease (CardioVascular BioTherapeutics, Inc.)

Commencement Date. (A) The Commencement Date shall be the earliest of (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or (b) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity Term of this Lease or shall commence on the obligations of date that Landlord notifies Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenantthat it has substantially completed Landlord's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this LeaseWork. Within ten (10) days after its receipt of such noticethe Commencement Date, Landlord Landlord's representative and Tenant's representative shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to jointly examine the Premises up and shall compile a list of any remaining items of work which Landlord may be obligated to complete ("punch list items"). The taking of possession of the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel Premises by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) an acceptance of the improvements to be provided by Landlord under this Lease are Premises and an acknowledgment that Landlord's Work has been substantially completed, (2) but Landlord shall thereafter complete the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premisespunch list items. 2.2.3. (B) If Tenant occupies takes possession of the Premises prior to said the Commencement Date, Tenant's obligation to pay Rent hereunder and to observe and perform all other conditions and agreements hereunder shall commence on such occupancy earlier date of possession, but the Term of the Lease shall not be affected thereby. (C) In the event that substantial completion of Landlord's Work is delayed by reason of delays caused or occasioned by Tenant, then at Landlord's option the Term of this Lease shall commence on the date that this Lease would have commenced had not the completion of Landlord's Work been so delayed by Tenant (or as reasonably determined by Landlord) or such occurrence shall constitute a default on the part of Tenant hereunder entitling Landlord to exercise all rights and remedies provided for herein in the event of Tenant's default. (D) Landlord's Work shall be subject deemed to all provisions have been substantially completed when the Premises may be lawfully occupied and the heating, ventilation, air conditioning, mechanical and elevator systems serving the Premises are operable. (E) Tenant shall, upon the demand of Landlord, promptly execute, acknowledge and deliver to Landlord an instrument substantially similar to that annexed hereto as Exhibit E, confirming the dates of commencement and expiration of the Term of this Lease, Lease and such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.other matters as are set forth on Exhibit E.

Appears in 1 contract

Samples: Lease Agreement (Premiere Technologies Inc)

Commencement Date. The Commencement Date "Initial Term" shall be for a period of five (5) Lease Years (as such term is defined hereinbelow), unless sooner terminated as provided herein. The Initial Term shall begin on the earliest of date (the "Commencement Date") that is the earlier to occur of: (i) one hundred-eighty (180) days from: (a) the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof Delivery Date ("Lease Commencement Date"as such term is defined hereinbelow); or (bB) the date Tenant opens for business to the public. As used herein, the term: (1) "Lease Term" shall include the Initial Term and any exercised Option pursuant to the terms of Section 2.B hereof; (2) "Lease Year" shall mean each successive twelve (12) month period occurring during the Lease Term or any extension or renewal thereof, provided if the Commencement Date is not the first day of a month, then the first Lease Year shall also include the balance of the month in which the Commencement Date occurs, so that the first "Lease Year" shall begin on which the Commencement Date and end on the last day of the twelfth (12th) full calendar month thereafter; and (3) the "Delivery Date" shall be the date of the later to occur of: (i) the full execution of the Lease by both parties (and Xxxxxx's receipt of a copy of the same); (ii) Tenant's receipt of all keys required for Xxxxxx's possession of the Premises; or (iii) Landlord's substantial completion of Landlord's Work (as described such term is defined in Section 14 below4 hereof). Within thirty (30) is substantially completed as determined by Landlord ("Rental days after the Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject provide to any liability thereforTenant, nor and Tenant and Landlord shall such failure affect execute, a Commencement Date Agreement setting the validity of this Lease or Commencement Date and the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession expiration date of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined Initial Term in the Work Letter form attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. D. If Tenant occupies the Premises prior to said the Commencement Date, such early occupancy shall be subject to all provisions of the terms and conditions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease Agreement

Commencement Date. The Commencement Date shall be the earliest of (a) The Term shall commence on the date on which Tenant takes possession of or commences business operations upon the Premises or any part thereof earlier of: ("Lease Commencement Date"); or (bi) the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafterfollowing the date Lessor notifies Lessee of the Substantial Completion of its construction obligations described in Exhibit "C" to this Lease provided a Certificate of Occupancy has been issued; and (ii) when Lessee occupies the Leased Premises for the purpose of conducting business. The Term shall continue for the period of months specified in Section 1.4 of the Lease, advise Landlord plus the portion of Tenanta calendar month, if any, immediately following commencement. (b) If despite Lessor's intent to cancel this Lease. Within ten (10) diligent efforts Lessor's work upon the Leased Premises improved in accordance with the provisions of Exhibit "C" are not substantially completed by a date which is 300 days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to following the date of Landlordthe issuance of the building permit to the Lessor for construction of the Lessor's receipt work specified in Exhibit "C" (the "Estimated Completion Date") , provided that said date shall be extended for period equal to the time construction has been delayed due to Permissible Delays, then, in such event, for each day of such further delay caused by Lessor, Lessee shall be credited with an amount equal to a sum derived by dividing the Minimum Monthly Rent at commencement of the Term by 30, which credit shall be applicable to Tenant's notice Minimum Monthly Rent obligation. However, for each day of intent delay beyond the Estimated Completion Date caused by Lessee Delay, Lessee shall pay additional rent to cancel. This Lease shall thereafter be canceled, and Lessor computed in the parties same manner which shall be discharged from all obligations hereunderpayable with the first regular installment of Minimum Monthly Rent. However, if and only if Tenant reimburses Landlord for all any such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereofdelay, and Landlord shall thereupon return any money previously deposited whether caused by Tenant. If such written notice of intent to cancel by Tenant is not timely received by LandlordLessee or Lessor, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy a 5 day period during which the culpable party shall not change be responsible for the termination dateremedies herein above described. In no event, and Tenant however, shall pay rent for such occupancyextensions resulting from Permissible Delay exceed 180 days. Each party shall notify the other of any delays caused by the other party within a reasonable time following the first party's knowledge of the delay. However, failure to notify shall not constitute a waiver of the rights of either party hereunder arising as a result of the delay. (c) If the Term has not commenced within three (3) years from date of execution hereof, it shall be automatically terminated.

Appears in 1 contract

Samples: Sublease (Sangstat Medical Corp)

Commencement Date. The Commencement Date shall be the earliest of (a) As herein used, the date on which phrase "commencement date" shall mean the earlier of: (i) the day Tenant takes opens for business in the demised premises, or (ii) ninety (90) days after Landlord has delivered to Tenant possession of or commences business operations upon the Premises or any part thereof ("Lease Commencement Date"); or demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the date on which demised premises to Tenant with Landlord's Work work completed between March 1, 2004 and June 1, 2004 (as described in Section 14 below) is substantially completed as determined by Landlord (the "Rental Commencement DateDelivery Period"). 2.2.1. Notwithstanding Landlord shall give Tenant notice (the Scheduled Commencement Date set forth in "Estimated Delivery Notice") no later than January 1, 2004 of the Basic Lease Provisions, if for any reason status of Landlord's construction and the estimated date that Landlord cannot shall deliver possession of the Premises to Tenant on said datewith Landlord's Work substantially completed (the "Estimated Delivery Date"). Landlord may revise the Estimated Delivery Date any time prior to February 1, 2004 (the "Final Delivery Notice Date"), by which time Landlord shall have given Tenant a final notice (the "Final Delivery Notice") of a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work shall be substantially completed and the Leased Premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. The Final Delivery Date shall not be subject earlier than (i) thirty (30) days after the date Tenant receives the Final Delivery Notice, or (ii) the first day of the Delivery Period. The parties agree that they shall conduct a joint walk-through of the premises approximately two (2) weeks prior to any liability therefordelivery to ascertain the status of Landlord's construction and identify incomplete matters. If Landlord does not deliver the demised premises to Tenant as required herein by September 1, nor shall such failure affect 2004, Tenant may defer delivery until January 1, 2005. If Landlord does not deliver the validity of demised premises to Tenant thereafter on or before February 1, 2005, Tenant may terminate this Lease or defer delivery until June 1, 2005. In the obligations event that the demised premises and Landlord's Work are not substantially completed and delivered to Tenant on or before the Final Delivery Date, the minimum rent due hereunder shall be adjusted so that, after the Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (1) day of minimum rent for each day after the Final Delivery Date until delivery of the demised premises is made to Tenant hereunder or extend consistent with the term hereof; but in such caseterms of this Lease, including substantial completion of the Landlord's Work. Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until accept possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements demised premises prior to the Premises up to the date later of (a) substantial completion of Landlord's receipt Work, (b) the first day of Tenant's notice the Delivery Period and (c) the Final Delivery Date. Time is of intent to cancelthe essence regarding all dates set forth in this Section 3(a). This Lease Landlord shall thereafter be canceled, and obtain a certificate of occupancy for the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses demised premises as stated in part of Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effectWork. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Lease (Retail Ventures Inc)

Commencement Date. The commencement date of this Sublease (the “Commencement Date Date”) shall be the earliest date on which all of the following conditions have occurred: (a) the date on which Tenant takes possession full execution and delivery of this Sublease or commences business operations upon the Premises a copy thereof to Sublandlord and Subtenant or any part thereof ("Lease Commencement Date")their respective attorneys; or (b) the date on which Landlord's Master Landlord consents in writing to this Sublease substantially in the form attached hereto and made a part hereof as Exhibit F (“Master Landlord Consent”) (or is deemed to have consented to this Sublease as hereinafter provided) as described in Article 3 below; (c) Sublandlord delivers the Sublease Premises to Subtenant vacant (subject to the provisions of Section 10.5 hereof) and in broom-clean condition; and (d) item (i) of Sublandlord’s Work (as described defined in Section 14 9.2 below) is substantially completed as determined by Landlord complete ("Rental Commencement Date"). 2.2.1. Notwithstanding the Scheduled Commencement Date Conditions”). Possession of the Sublease Premises shall be delivered to Subtenant upon execution of this Sublease and receipt of the executed Master Landlord’s Consent, in vacant (subject to the provisions of Section 10.5 hereof), broom-clean and “AS-IS and WITH ALL FAULTS” condition as provided in Article 9 below (subject to all of the terms and conditions set forth in this Sublease except for Subtenant’s obligation to pay Base Rent and Additional Rent) for the Basic Lease Provisionssole and limited purpose of allowing Subtenant to install its fixtures, if furnishings, equipment and personal property in the Sublease Premises pursuant to Section 14 below, and not for the conduct of Subtenant’s business therein, provided Subtenant shall not interfere with Sublandlord’s Work during such access. The date on which the Sublease Premises is delivered to Subtenant as described above is referred to herein as the “Delivery Date.” Sublandlord and Subtenant shall enter into a Commencement Date Agreement substantially in the form of Exhibit C attached hereto confirming the Commencement Date promptly following the Commencement Date, provided that any reason Landlord cannot deliver possession failure of the Premises parties to Tenant on said date, Landlord execute such written agreement shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, established as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Sublease (Hudson Holding Corp)

Commencement Date. The Commencement Date listed in Section l(g) of this Lease represents an estimate of the Commencement Date. This Lease shall commence on the estimated Commencement Date if the Premises Improvements are substantially completed by fourteen (14) days prior to such date, but otherwise the Commencement Date shall be first to occur of the earliest of following events (ai) fourteen (14) days after the date on which Landlord notifies Tenant that the Premises Improvements are substantially completed in accordance with Exhibit D, (ii) the date on which Tenant takes possession commences beneficial occupancy of or commences business operations upon any portion of the Premises or any part thereof ("Lease Commencement Date"); other than for move in purposes, or (biii) if substantial completion of the Premises Improvements is delayed due to Tenant's failure to perform its obligations under this Lease, then the date on which Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord as fourteen ("Rental 14) days after the date upon which the Premises Improvements would have been substantially completed, but for Tenant's failure to perform. If this Commencement Date is later than the Section 1 Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, provided only that if substantial completion of manufacturing space on the first floor (the "). 2.2.1. Notwithstanding the Scheduled Commencement Date set forth in the Basic Lease ProvisionsManufacturing Space") has not occurred by December 31, if 1994 for any reason Landlord canother than force majeure or delay caused by Tenant, or if the Premises Improvements are not deliver possession all substantially complete by the seven month anniversary of the Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, reason other than force majeure or delay caused by Tenant (which Tenant caused delay shall include delay caused by Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," failure to timely respond to plan proposals), then Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent shall be entitled to cancel this Lease. Within ten Lease on thirty (10) days after its receipt of such notice, 30)days written notice to Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice given within ten (10) days after TenantXxxxxxxx's receipt thereoffailure to meet an applicable deadline, and neither party shall have any further obligation to the other. Landlord shall thereupon return any money previously deposited confirm the Commencement Date by written notice to Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this This Lease hereunder shall terminate and be of no further force or effect. 2.2.2. Possession of the premises shall be deemed delivered to Tenant when for a term (1"Lease Term") beginning on the improvements to be provided by Landlord under this Lease are substantially completed, (2) Commencement Date and ending on the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises. 2.2.3. If Tenant occupies the Premises prior to said Commencement Expiration Date, such occupancy shall be subject to all provisions unless extended or sooner terminated in accordance with the terms of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.

Appears in 1 contract

Samples: Master Lease (Tripath Imaging Inc)

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