Common use of Commencement Date Clause in Contracts

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 2 contracts

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

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Commencement Date. Notwithstanding 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 set forth in Section 4 of shall be the Leasedate the Landlord’s Work and Base Building Representations would have been Substantially Completed, Lessee’s obligation for as reasonably estimated by Landlord, without the payment of Basic Rental and Additional Rental shall commence as follows: (1) For Tenant Delays. Notwithstanding anything to the Current Second Floor Spacecontrary contained herein, Rental shall commence Landlord represents to Tenant that on the Commencement Date. For Date and as part of the New First Floor SpaceBase Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, Rental shall commence and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the 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 the later 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 date that three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the New First Floor Space above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Ready for Occupancy 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 April township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 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, 20022021. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 2 contracts

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

Commencement Date. Notwithstanding Commencing on the earliest to occur of: (i) the date on which Tenant occupies any portion of the 4th Floor Space or the 6th Floor Space, as the case may be; (ii) the date on which the 4th Floor Work or the 6th Floor Work (as defined herein) is Substantially Completed (as 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 set forth (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 Section 4 accordance with the terms and conditions of the Lease, Lessee’s obligation for as amended hereby. As used herein, the payment of Basic Rental “4th Floor Work” and Additional Rental the “6th Floor Work” shall commence as follows: (1) For mean and refer to those certain improvements to the Current Second 4th Floor Space and the 6th Floor Space, Rental as the case may be, to be performed by Landlord 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 commence on be collectively referred to herein as the Commencement Date“Expansion Space Work.” In connection with the Expansion Space Work, Landlord shall perform certain improvements to the Existing Premises, as indicated in the Expansion Space Plans (as defined below) approved by the parties. For purposes of this Amendment, such improvements shall be included in the New First Floor Space, Rental shall commence on the later definition of the date Expansion Space Work. Tenant hereby acknowledges that Landlord will be performing the New First Floor Expansion 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Term (as extended hereby), and Tenant shall not be responsible for paying entitled to any additional costs resulting from changes requested abatement or reduction of Rent or any other amount payable under the Lease in connection therewith, nor shall the Expansion Space Work be deemed an eviction, actual or constructive, of Tenant. Tenant shall at all times cooperate reasonably and in good faith in connection with Xxxxxxxx’s prosecution of the Expansion Space Work, including, without limitation, by Lessor unless Lessee’s approval is obtained in advance. Lessee shall have the right to make changes granting Landlord access to the Lessor’s Existing Premises and the Expansion Space and by promptly responding to matters arising in connection with the Expansion Space 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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 2 contracts

Samples: Office Building Lease (Marqeta, Inc.), Office Building Lease (Marqeta, 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 Section 4 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, Lessee’s obligation 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 payment 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 Basic Rental 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 Additional Rental 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 commence 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 follows: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) For the Current Second Floor Spaceimprovements to be provided by Landlord under this Lease are substantially completed, 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 New Second Floor Space, Rental shall commence on Building Utilities are ready for use in the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002Premises, 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) Lessor or Lessee 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 make any changes to Lessor’s Work during change 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 Lessor’s Worktermination date, and will be responsible Tenant shall pay rent 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 Lessoroccupancy. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 2 contracts

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

Commencement Date. Notwithstanding Subject to satisfaction of the Commencement Date condition set forth in Section 4 13 hereof, the term of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: this Sublease (1“Sublease Term”) For the Current Second Floor Space, Rental shall commence on April 1, 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 Subtenant on or before any particular date, for any reason, Sublandlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Sublease nor the obligations of Subtenant hereunder (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 thereof (including, without limitation, Section 2.2 of the Master Lease), Subtenant shall have no option to extend the term of this Sublease. Within ten (10) days after Sublandlord’s request, Subtenant shall execute and deliver to Sublandlord a written confirmation of the Commencement Date and all other matters set forth therein (and if Subtenant fails to do so, Tenant shall be deemed to have executed and returned the same without exception). Such confirmation shall be conclusive and binding upon Sublandlord and Subtenant; provided, however, Sublandlord’s failure to deliver any such written confirmation to Subtenant shall not affect Sublandlord’s determination of the Commencement Date. For Subtenant shall have reasonable early access to the New First Floor Space, Rental shall commence Subleased Premises beginning on the date Sublandlord has vacated the Sublease Premises (but in no event later of than February 1, 2022 or earlier than the date that Master Landlord consents to this Sublease) (such date the New First Floor Space is Ready for Occupancy “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 April 1any portion thereof, 2002but, 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. HoweverSubtenant’s early access shall be subject to all the terms and conditions of this Sublease, if the date that the New First Floor Space is Ready for Occupancy is delayed past April 1including, 2002without limitation, all insurance and such delay is solely as a result of Lessee’s actions or inactionsmaintenance obligations, then Rental except for the New First Floor Space shall commence April 1, 2002obligation to pay Rent. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 2 contracts

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

Commencement Date. Notwithstanding This Lease Agreement shall be for an initial term of ten (10) years (the “Initial Term”) commencing on the “Commencement Date Date” (as hereinafter defined). The term “Commencement Date” shall mean the earlier of the date of (i) 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 Section 4 this Lease Agreement or (ii) the occupancy of the Lease, Lessee’s obligation for the payment Demised Premises and commencement of Basic Rental and Additional Rental shall commence as follows: business operations by Tenant or (1iii) For the Current 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 Substantial Completion would have occurred but for the New First Floor Space is Ready delay caused or contributed to by any act or neglect of Tenant or those acting for Occupancy or April 1under Tenant (including Tenant Change Orders, 2002Tenant 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 delivery of plans and specifications as set forth in Article 2 of this Lease or Tenant’s selection of special or long lead time items beyond Landlord’s control (provided Landlord notifies Tenant in writing of any long lead items and the actual number of days it will take to receive such items within ten (10) business days after Landlord’s initial receipt of plans or specifications including such item, 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”). HoweverIf Landlord desires to allege that Tenant Delay has occurred, if no later than ten (10) business days after the occurrence of a Tenant Delay, Landlord shall deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to subparagraph (iii) hereof, to the extent any other Force Majeure Event coincides with an event of Tenant Delay, the date that the New First Floor Space is Ready Substantial Completion would have occurred but for Occupancy is delayed past April 1, 2002, and such delay is solely as a result of Lessee’s actions or inactions, then Rental other Force Majeure Event will be extended “day for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 day” to the Lessor’s Work, and will be responsible for the cost extent 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 Lessorother Force Majeure Event. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Digital Lightwave Inc)

Commencement Date. Notwithstanding The term of this Lease (“Term”) shall be sixty (60) months commencing on the Commencement Date set forth in Section 4 (as defined below), unless sooner terminated and subject to any extensions granted hereunder. The “Commencement Date” of this Lease shall be the earlier of (i) substantial completion of the LeaseTenant Improvements (as defined below) and the Additional Work (as defined below), Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1ii) For the Current 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 Tenant commences occupancy and use of the New First Floor Space is Ready Premises for Occupancy or April 1the purpose of conducting Tenant’s business operations 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 prior to the commencement of such occupancy and use). For purposes of this Lease, 2002. However, if the date of “substantial completion” of the Tenant Improvements and Additional Work shall be the date that all of the New First Floor Space is Ready following has occurred: (i) the Tenant Improvements and Additional Work are complete except for Occupancy is delayed past April 1minor 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, 2002, evidenced by its completion of a final inspection and written approval of such delay is solely improvements as a result of Lessee’s actions or inactions, then Rental so completed in accordance with the building permit(s) issued for the New First Floor Space 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 of this Lease is other than the last day of a calendar month, Rent (as defined below) shall commence April 1be prorated for the month in which the Commencement Date or expiration date, 2002. (2) For the New Second Floor Spaceas applicable, Rental shall commence occurs on the later basis of the date number of days that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, and such delay is solely as a result Tenant had possession of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002. (3) 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 Lessor’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 Lessorduring such calendar month. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Silicon Graphics Inc)

Commencement Date. Notwithstanding 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: (i) 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 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 Tenant’s agents (including without limitation delays caused by work done on the Premises by Tenant or 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 (D) 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 Tenant opens for business in the Premises. If the Commencement Date is a date other than the date set forth in Paragraph 1.6, then the Ending Date set forth in Section 4 of Paragraph 1.7, the Lease, Lessee’s obligation for the payment of Basic Rental rental adjustment dates set forth in Paragraph 1.8 and Additional Rental any other certain dates specified herein shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on be adjusted accordingly. When 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 1Ending Date, 2002. However, if the date that the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002rental adjustment dates, and such delay is solely as a result of Lessee’s actions or inactionsother dates become ascertainable, then Rental for Landlord and Tenant shall specify the New First Floor Space shall commence April 1same in writing, 2002. (2) For in the New Second Floor Space, Rental shall commence on the later form of the date that the New Second Floor Space is Ready for Occupancy (attached Exhibit C, which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 writing shall be responsible for paying deemed incorporated herein. Tenant’s failure to execute and deliver the letter attached hereto as Exhibit C within thirty (30) days after Tenant receives written request from Landlord to do so (subject to any additional costs resulting from changes requested legitimate disagreement by Lessor unless Lessee’s approval Tenant with the terms thereof, which both parties shall use reasonable efforts to resolve) shall be a Default by Tenant hereunder. The expiration of the Lease Term or sooner termination of this Lease is obtained in advance. Lessee shall have the right referred to make changes to the Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time herein as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below“Lease Termination.

Appears in 1 contract

Samples: Net Lease Agreement (Trident Microsystems Inc)

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 The Term of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental this Lease shall commence on the Commencement Date and, unless sooner terminated or extended as hereinafter provided, shall end on the Expiration Date. For If Landlord does not tender possession of the New First Additional Second Floor Space or the Additional Third Floor Space to Tenant on or before any specified date, for any reason whatsoever, Landlord shall not be liable for any damage thereby caused, this Lease shall not be 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, Rental as applicable, to Tenant. Landlord shall commence on the later be deemed to have tendered possession of the date that the New First Additional Second 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 New Second Additional Third Floor Space, Rental shall commence on as applicable, to Tenant upon the later 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 date that the New Additional Second Floor Space is Ready for Occupancy (which is expected or the Additional Third Floor Space to be Tenant on or before May 1, 2002) or May 1, 2002any specified date shall affect any other obligations of Tenant hereunder. However, if There shall be no postponement of the date that the New Additional 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 Additional Third Floor Space (or the corresponding Rent Commencement Date with respect to the Additional Second Floor Space shall commence May 1or the Additional Third Floor Space, 2002. as applicable) for (3i) 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay in the date tender of possession to Tenant which results from any Tenant Delay or (ii) any delays by Landlord in the Premises 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), as applicable (Tenant shall have available to it the remedy described below in this Section 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 Ready determined, 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 list of Punch List Items and such failure continues for Occupancy as more than 30 days after notice by Tenant to Landlord of such failure, or if such failure is of a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessor. (4) For the Space Pocket, notwithstanding nature that it is cannot be completely remedied within 30 days, failure by Landlord 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 may perform and complete such Punch List Items at Landlord's expense. All costs and expenses reasonably incurred by Tenant in connection with any such performance and completion by Tenant shall be completed at paid by Landlord to Tenant within 30 days after Landlord receives an invoice therefor from Tenant, which shall be accompanied by true and complete copies of invoices and other reasonable support for the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) belowcosts and expenses invoiced.

Appears in 1 contract

Samples: Lease Agreement (Philadelphia Consolidated Holding Corp)

Commencement Date. Notwithstanding The terms and provisions of this Lease shall be effective as of the Commencement Date date of this Lease. The term of this Lease (the "Term") shall be for the duration set forth in Section 4 of the Lease, Lessee’s obligation for the payment of Basic Rental 1.3 hereof and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on the date set forth in Section 1.3.2 of this Lease (the "Commencement Date") and shall terminate on the date set forth in Section 1.3.3 of this Lease, unless sooner terminated pursuant to the terms of this Lease. For purposes of this Lease, the New First Floor Space, Rental term "Lease Year" shall commence on mean each consecutive twelve (12) month period during the later Term. Notwithstanding the definition 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 Commencement Date for the New First Floor Space shall commence April 1Premises set forth in Section 1.3.2, 2002. (2) For the New Second Floor Spaceabove, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Tenant shall have the right to make changes to commence business operations from any portion of the Lessor’s WorkPremises (such space, and will be responsible for the cost of such changes"Pre- Occupancy Space") during the "Pre-Occupancy Period," as that term is defined below, provided that (i) Tenant shall give Landlord at least ten (10) days prior notice of any delay such use of the Premises, 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 Share 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"). Following Tenant's possession of the Premises, Tenant shall confirm the Commencement Date upon Landlord's delivery to Tenant of an instrument in the form set forth on Exhibit B attached hereto. Tenant shall execute and return such 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, notwithstanding the Premises are Ready for Occupancy as a result thereof shall not delay the later commencement of Rentals and shall not extend rental abatement periods against the LessorTerm. 4. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Office Lease (Activision Inc /Ny)

Commencement Date. Notwithstanding The Term of the Lease shall commence ("Commencement Date") on the first day of the first full month following the date on which the Premises are Substantially Complete (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 "Substantially Complete" on the earliest of the date on which: (1) Landlord delivers to Tenant an architect's 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 a signoff from a building inspector or a temporary certificate of occupancy) is issued for the Premises, or (2) Tenant first occupies all or any portion of the Premises (except for initial fixturing and installation and testing of telecommunications and data processing systems as provided for in Section 25 below). Landlord shall arrange for the construction of certain Tenant Improvements (as defined in the Work Letter attached hereto as Exhibit B), if any, in accordance with and subject to the terms of the Work Letter. Tenant shall, upon demand after delivery of the Premises to Tenant, execute and deliver to Landlord a Commencement Date Memorandum in the form attached hereto as Exhibit C, acknowledging (i) the Commencement Date, (ii) the final square footage of time Premises, and (iii) Tenant's acceptance of the Premises. If the Premises 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 act, this Lease shall remain in effect, Landlord shall not be subject to any liability, and the Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay in delayed until the date the Premises are Ready Substantially Complete. Tenant has determined that the Premises are acceptable for Occupancy Tenant's use and Tenant acknowledges that, except as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessor. (4) For the Space Pocket, notwithstanding that it is to may be completed at the same time as the New Second Floor Space, Rental shall commence as expresslx xxxxrwise provided in Section 40(b) belowthis Lease, neither Landlord nor any broker or agent has made any representations or warranties in connection with the physical condition of the Premises or their fitness for Tenant's use upon which Tenant has relied directly or indirectly for any purpose.

Appears in 1 contract

Samples: Office Lease (Ipayment Inc)

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation The Term shall be for the payment period of time specified in the Basic Rental and Additional Rental shall commence Lease Information unless sooner terminated as follows: (1) For the Current Second Floor Space, Rental hereinafter provided. The Term shall commence on the date the Premises are delivered to the Tenant in “substantially completed” condition (as defined in the Work Letter Agreement), subject to adjustment for “Tenant Delays” as 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 shall have the option, to be exercised by written notice (“Commencement Date. For the New First Floor Space, Rental shall commence on the Date Delay Notice”) to Landlord delivered no later than two (2) days after Tenant has received notice of the date that the New First Floor Space is Ready Premises will be substantially complete, to delay the commencement of the Term for Occupancy or April 1, 2002. However, if a period not to exceed thirty (30) days after the date that the New First Floor Space is Ready Premises are substantially complete (as such date of substantial completion may be adjusted for Occupancy is delayed past April 1, 2002, and such delay is solely Tenant Delays as a result provided in the Work Letter). The date of Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. Howeversubstantial completion or, if the date that the New Second Floor Space is Ready for Occupancy is Tenant delivers a Commencement Date Delay Notice, such delayed past May 1date, 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) 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 advancethe “Commencement Date”. Lessee shall have the right to make changes to the Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay in the date If the Premises are Ready 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 Occupancy as Tenant’s use on a result thereof shall not delay temporary basis pending substantial completion of the commencement of Rentals and shall not extend rental abatement periods against the Lessor. (4) For the Space PocketPremises, notwithstanding that it is to be completed at the same time base rental rate per rentable square foot as the New Second Floor Space, Rental would be payable by Tenant under this Lease. The Outside Date shall commence be extended by one (1) day for each day of Tenant Delay or Force Majeure delay (as provided defined in Section 40(b22.15 below). For purposes of this Lease, the first “Lease Year” shall mean the period commencing on the Commencement Date and ending twelve (12) belowmonths 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 ending on the last day of the twelfth (12th) full calendar month after the Commencement Date. Thereafter, the term “Lease Year” shall mean a period equal to twelve (12) full calendar months.

Appears in 1 contract

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

Commencement Date. The “Commencement Date” shall mean May 1, 2021. Notwithstanding the foregoing, in the event that Landlord does 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 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 set forth 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 Section 4 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, Lessee2021 (such date, which shall be extended for Tenant Delays to the extent Tenant’s obligation 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 payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence period beginning on the Commencement Date. For day following the New First Floor Space, Rental shall commence Estimated Final Turnover Date and ending 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) Lessor or Lessee shall not make any changes to LessorLandlord’s Work during and the course of construction without the other party’s prior written approval. Lessor Tenant Improvements are Substantially Completed, which abatement shall be responsible for paying in addition to any additional costs resulting from changes requested by Lessor unless Lessee’s approval is obtained in advanceother abatement, free rent periods or other rental concessions to which Tenant may be entitled under the Lease (as amended hereby). Lessee Notwithstanding the foregoing, Tenant shall have the right to make changes to enter the Lessor’s WorkLeased Premises as of the Effective Date for the purposes of installing cabling, wiring, telephone equipment, fixtures, furniture, and will 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 responsible for deemed Tenant’s possession of the cost 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 have the right to provide written notice to Tenant of such changesinterference, provided that 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 delay in the date the Premises are Ready person or entity working for Occupancy as a result thereof or on behalf of Tenant shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessor. (4) For the Space Pocket, notwithstanding that it is be deemed to be completed at subject to all of the same time as terms, covenants, conditions and provisions of the New Second Floor SpaceLease, Rental shall commence as provided in Section 40(bincluding, without limitation, providing certificate(s) belowof insurance required under this Lease, excluding only the covenant to pay Rent (defined herein).

Appears in 1 contract

Samples: Lease Agreement (NeuBase Therapeutics, Inc.)

Commencement Date. Notwithstanding The "Commencement Date" will be the Commencement Date set forth in Section 4 earlier to occur of (i) the date Tenant takes occupancy of the Lease, Lessee’s obligation Phase 1 Premises for the payment purposes of conducting its business, and (ii) five (5) days after Landlord has Substantially Completed (as hereinafter defined) the 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 or before September 1, 2008. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 1 Premises is not Substantially Completed on or before September 1, 2008, Tenant shall be entitled to a one day abatement of Basic Rental and Additional Rental shall commence as follows: (1) For Rent with respect to the Current Second Floor SpacePhase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to October 31, Rental shall commence 2008. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 1 Premises is not Substantially Completed 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 before November 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 inactions2008, then Rental for in addition to the New First Floor Space abatement in Basic Rent provided in the immediately preceding sentence, Tenant shall commence April 1, 2002. be entitled to a two (2) For day abatement of Basic Rent with respect to the New Second Floor SpacePhase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, Rental shall commence on 2008. Subject to a Tenant Delay or an Excusable Delay, if Tenant's Finish Work with respect to the later of the date that the New Second Floor Space Phase 1 Premises is Ready for Occupancy (which is expected to be not Substantially Completed on or before May January 1, 2002) or May 1, 2002. However, if the date 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 inactions2009, then Rental for in addition to the New Second Floor Space shall commence May 1abatement in Basic Rent provided in the two immediately preceding sentences, 2002. (3) 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 Tenant 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 entitled to make changes to the Lessor’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. four (4) For day abatement of Basic Rent with respect to the Space PocketPhase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed. Any such accrued 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. 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, notwithstanding 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 it Tenant Finish Work is not Substantially Completed up to be completed at October 31, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the same time as Phase 2 Premises is not Substantially Completed on or before November 1, 2009, then in addition to the New Second Floor Space, Rental shall commence as abatement in Basic Rent provided in Section 40(bthe immediately preceding sentence, Tenant shall be entitled to a two (2) belowday 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 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 two immediately preceding sentences, Tenant shall be entitled to a four (4) day abatement of Basic Rent with respect to the Phase 2 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed. Any such accrued 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. Landlord shall use all reasonable and good faith efforts to have the Tenant Finish Work with respect to the Phase 3 Premises Substantially Completed on or before September 1, 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 September 1, 2010, Tenant shall 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 accrued 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. Notwithstanding the The Commencement Date set forth in Section 4 of shall be the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: date which is ninety (190) For the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later of days after the date that the New First Floor Space 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 may be advanced or extended as follows: (i) if substantial completion of the Landlord's Work is Ready delayed as a result of any Tenant Delays (as defined in the Work Letter Agreement), then the Commencement Date, as would otherwise have been established as set forth in this sentence, shall be advanced by the number of days of such Tenant Delays; 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), then for Occupancy or April each day of such delay the Commencement Date shall be extended by one (1) day. For purposes of this Lease, 2002the Landlord's Work shall be deemed to be "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 the Work Letter Agreement other than minor "punch-list" type items and adjustments which do not materially interfere with Tenant's access to the Premises. HoweverWithin seven (7) days after Tenant receives the Landlord's Work Substantial Completion Certificate, if 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 fails to have its architect inspect the Landlord's Work within the aforesaid seven (7) day period, it shall be deemed that Tenant has waived its right to make such inspection. For purposes of this Lease, substantial completion of the Tenant Improvements shall occur on the date that the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002, Tenant Improvements have been substantially completed in accordance with the Final Tenant Improvement Plans 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. Specifications (2hereafter defined in Subparagraph 3(b) For the New Second Floor Space, Rental shall commence on the later of the date that Work Letter Agreement) other than decoration and minor "punch-list" type items and adjustments which do not materially interfere with Tenant's use of the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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, 2002Building. (3) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Office Building Lease (Kana Communications Inc)

Commencement Date. Notwithstanding anything to the contrary contained in the Lease, Tenant shall have an ongoing option (the "Acceleration Option") to accelerate the Commencement Date set forth 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 less than 90 days from the date of 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 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 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 applicable, would be of such size or configuration as not to be reasonably leasable by Landlord, as reasonably determined by Landlord. If Landlord is delayed delivering possession of the 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 the 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 deliver the Accelerated Increment 4 Space to Tenant within ninety (90) days of the stated availability date for the lease thereof, as such ninety (90) day period shall be extended for any delay due to Limited Force Majeure (as defined in Section 4 of the Lease), Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Tenant shall have the right to make changes terminate its lease of the Accelerated Increment 4 Space by notice thereof to Landlord given within ten (10) Business Days after the expiration of such ninety (90) day period as so extended. Upon Tenant's election to lease the Accelerated Increment 4 Space, Landlord and Tenant shall promptly enter into an amendment to the Lessor’s WorkLease (including modification of the Premises Table set forth in Section 1.02 of the Lease, and will 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 (i) the Rent Commencement Date shall be responsible ninety (90) days after the Commencement Date of such Accelerated Increment 4 Space, (ii) the Allowance for the cost 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 such changesSection I.F. of the Work Letter, provided that any delay in addition to the date the Premises are Ready for Occupancy Allowance, and not as a result thereof deduction therefrom, Landlord shall not delay reimburse Tenant up to Two and 5011 00 Dollars ($2.50) per rentable square foot of the commencement of Rentals and shall not extend rental abatement periods against the LessorAccelerated Increment 4 Space. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Zulily, Inc.)

Commencement Date. (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 Commencement Date set forth in Section 4 above, Sublessor shall give Sublessee at least sixty (60) days advance written notice of the Leaseits anticipated delivery date, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current 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 so 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, 2002Sublessee might plan accordingly. (2b) For the New Second Floor Space, Rental shall commence on the later Possession of the date that demised premises shall not be deemed to have been given to Sublessee unless the New Second Floor Space is Ready demised premises are ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002installation of Sublessee’s fixtures and finishing work by Sublessee, and such delay 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 solely as listed on Exhibit “B”, attached hereto and made a result of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002part hereof. (3c) Lessor or Lessee shall not make any changes Prior 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 date on which possession is obtained in advance. Lessee delivered to Sublessee as aforesaid, Sublessee shall have the right to make changes to enter the Lessor’s Workdemised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and will be responsible for the cost of such changesreceiving merchandise and other property, provided that any delay it does not unreasonably interfere with Sublessor’s construction activities. All work other than that to be performed by Sublessor is to be done by Sublessee within ninety (90) days after the date possession of the demised premises has been delivered to Sublessee, at Sublessee’s expense in accordance with the provisions of this Sublease and as set forth in the date the Premises are Ready for Occupancy schedule entitled Description of Sublessee’s Work and attached hereto as Exhibit “C” and made a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessorpart hereof. (4d) For From the Space Pocketdate upon which the demised premises are delivered to Sublessee for its work until the commencement date of the sublease term, notwithstanding that it is Sublessee shall observe and perform all of its obligations under this Sublease (except its obligation to be completed at the same time as the New Second Floor Spaceoperate and to pay minimum rent, Rental shall commence as percentage rent, its pro rata share of maintenance costs, provided for in Section 40(b16 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 open for business within ninety (90) belowdays after the date possession of the demised premises has been delivered to Sublessee, Sublessor, in addition to any and all other available remedies, may require Sublessee to pay to Sublessor, in addition to all other rent and charges herein, as liquidated damages and not as a penalty, an amount equal to one-one hundred eightieth (1/180) of the annual minimum rent for each day such failure to open continues.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Retail Ventures Inc)

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 The term of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental 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 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 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 fails to attend any meeting with Landlord, the architect, any design professional, or any 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 "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 Expiration Date and (c) Tenant's 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 this Lease to a "Lease Year" shall mean each successive twelve month period commencing with the Commencement Date. 1.1.4 Landlord and Tenant estimate that the Commencement Date shall be July 1, 2019, but such estimate is not and shall not be deemed to be a representation or warranty by Landlord that Premises shall be ready for Tenant's occupancy on such date. 1.1.5 Landlord shall provide Tenant with limited access to the Expansion Premises at such times as may be designated by Landlord in light of construction work by Landlord in the Expansion Premises for a period of approximately two (2) weeks prior to the date which Landlord anticipates being the Commencement Date for the sole purpose of permitting Tenant to ready the Expansion Premises for Tenant’s occupancy, so that Tenant’s access does not interfere with the performance of Landlord’s work in the Expansion Premises. Tenant's access to the Expansion Premises during the period of time prior to the Commencement Date shall be subject to all the provisions of this Lease (including the Rules and Regulations and such other rules and regulations as Landlord may reasonably impose), other than the payment of Rent and the expiration date of the Lease shall not be advanced by such access by Tenant of the Expansion Premises prior to 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) Lessor or Lessee Tenant shall not make any changes to Lessorinterfere with Landlord’s Work during the course performance of construction without the other partyLandlord’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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay work 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 LessorExpansion Premises. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Office Lease (Rimini Street, Inc.)

Commencement Date. Notwithstanding The date of commencement for the Additional Space (the "Additional Space Commencement Date") shall be the date of substantial completion of Landlord's Work, as hereinafter defined, in the Additional Space, which is projected to be three (3) months from Landlord's receipt of final approved Working Drawings, as hereinafter defined, or such earlier date as Tenant takes possession or commences use of the Additional Space for any purpose other than construction. The Additional Space Commencement Date and the commencement of rental payment hereunder shall not be extended or delayed for any period of time that substantial completion of Landlord's Work and the delivery of possession of the Additional Space is delayed beyond that date which is three (3) months from Landlord's receipt of final approved Working Drawings, as hereinafter defined, by any 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. 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 date may be extended by the number of days, if any, of any (i) Tenant Delays, as herein defined; (ii) Force Majeure delays; and/or (iii) any other delays pursuant to 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 set forth in Section 4 is 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 war, casualties and governmental actions, but excluding lack of funds, which events delay the occurrence of the Leasespecified date or event in question. If the Additional Space Commencement Date occurs on any day other that the first day of a month, Lessee’s obligation for then the payment Basic Rent will be pro-rated on a daily basis (i.e., annual rental divided by 365 days, or 366 days in a leap year). As of Basic Rental and the Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on the Space Commencement Date. For , the New First Floor Space, Rental Additional Space shall commence on the later be deemed to be a part of the date that Premises demised under 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, 2002Lease. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Bisys Group Inc)

Commencement Date. Notwithstanding (a) The term of this Lease shall be the Commencement Date set forth period specified in Section 4 "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental this Lease shall commence on the earlier of (a) the opening for business 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 (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work is substantially complete. For If Tenant's building is not complete by the New First Floor SpaceRent Commencement Date, Rental Tenant shall commence on paying rent and all other charges subject to the later provisions of this Section 3.1 (a) and the failure to have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b3.3(a) below, (b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to 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 and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of 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 convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate.

Appears in 1 contract

Samples: Lease Agreement (Embassy Bancorp, Inc.)

Commencement Date. Notwithstanding The commencement date of this Sublease (the “Commencement Date”) shall be the date on which all of the following conditions have occurred: (a) the full execution and delivery of this Sublease or a copy thereof to Sublandlord and Subtenant or their respective attorneys; (b) the 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 defined in Section 9.2 below) is substantially complete (the “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 sole and limited purpose of allowing Subtenant to install its fixtures, 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 set forth in Section 4 of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on promptly following 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay in failure of the date the Premises are Ready for Occupancy as a result thereof parties to execute such written agreement shall not delay affect the commencement validity of Rentals and shall not extend rental abatement periods against the LessorCommencement Date as established as aforesaid. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Sublease (Hudson Holding Corp)

Commencement Date. Notwithstanding (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 to occur on or before the date that is [***] following the later to occur of (x) the date hereof and (y) the date on which the Plans and Specifications are finalized and approved by Landlord and Tenant 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 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 4 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 Lease, Lessee’s obligation 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 payment normal operation of Basic Rental its business therein (and Additional Rental shall commence as follows: (1) For not for the Current Second Floor Spacepurpose of installing Tenant’s furniture, Rental shall commence on fixtures or equipment prior to the Commencement Date. For , if the New First Floor Spacesame is permitted hereunder), Rental the Commencement Date shall commence be treated as having occurred on such date of occupancy. (b) If the later of Commencement Date does not occur on or before the date that is twelve (12) months following the New First Floor Space is Ready for Occupancy or April 1, 2002. However, if later to occur of (i) the date that hereof and (ii) the New First Floor Space is Ready date on which the Plans and Specifications are finalized and approved by Landlord and Tenant in accordance with the terms of the Base Work Letter (as such date shall be extended on a day-for-day basis for Occupancy is delayed past April 1Force Majeure (but in no event shall such Force Majeure extension exceed ninety (90) days in the aggregate) and Tenant Delay, 2002, and such delay is solely as a result of Lessee’s actions or inactionsthe “Outside Date”), then Rental for the New First Floor Space shall commence April 1Tenant, 2002. (2) For the New Second Floor Spacein Tenant’s sole discretion, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 terminate this Lease upon written notice (“Tenant’s Termination Notice”) delivered to Landlord within ten (10) days after the LessorOutside Date, time being of the essence. If Tenant does not deliver Tenant’s WorkTermination 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 will be responsible for the cost of such changes, provided that any delay in the date Landlord does not deliver the Premises are Ready for Occupancy as a result thereof to Tenant within thirty (30) days after the giving of Tenant’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 cause the Commencement Date to occur within thirty (30) days after receipt of Tenant’s Termination Notice, this Lease shall not delay the commencement be so terminated and Tenant’s termination right under this Section 3.1(b) shall be void and of Rentals and shall not extend rental abatement periods against the Lessorno further force or effect. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Protara Therapeutics, Inc.)

Commencement Date. Notwithstanding This Lease shall be effective and in full force upon execution by the Commencement Date set forth in Section 4 of parties hereto. The Lease Term begins and the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence first Rent is due on the "Commencement Date. For " which shall be the New First Floor Spaceearlier of: (i) 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, Rental shall commence on the later of or (ii) the date that Tenant opens for business in the New First Floor Space is Ready for Occupancy or April 1Premises; however, 2002. However, if Tenant shall otherwise comply with the date that the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002, and such delay is solely terms hereof 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay in the date the Premises are Ready available to Tenant ready for Occupancy as a result thereof shall Tenant's Work and Tenant covenants and agrees to commence Tenant's Work within thirty (30) days after Landlord gives such notice to Tenant that the Premises are available to Tenant for Tenant's Work (but not delay the commencement prior to receipt by Tenant of Rentals and shall not extend rental abatement periods against the Lessor. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence approval of Tenant's Working Drawings as provided in Section 40(bthe Handbook). Tenant's failure to commence the Tenant's Work by the date which is thirty (30) belowdays after the date of Landlord's 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 this Lease to the 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 automatically terminate in the event the Premises are not available to Tenant ready for Tenant's Work 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, Landlord shall reimburse Tenant for the actual, reasonable costs incurred by Tenant in connection with the preparation of this Lease and the Premises, not to exceed $100,000.00. Landlord and Tenant agree 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. Notwithstanding Landlord and Tenant shall use their best ----------------- efforts to complete the Commencement Date set forth Building and the Initial Tenant Improvements in accordance with Exhibit B hereto on the date specified in Section 4 of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence 1(f) or as follows: (1) For the Current Second Floor Space, Rental shall commence on the soon thereafter as practicable. The "Commencement Date. For the New First Floor Space, Rental " shall commence on the later of mean the date that the New First Floor Space 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 Ready for Occupancy or April presently estimated that the term of this Lease shall commence on July 1, 20022000. HoweverThe 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"), if 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 New First Floor Space Initial Premises will be completed for occupancy or (II) the date the entirety of the Initial Premises is Ready 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 Occupancy is delayed past April 1Tenant Delay (defined below). Subject to Tenant Delay or other causes beyond Landlord's control, 2002Landlord 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, and such delay is solely as a result of Lessee’s actions or inactions, then Rental for the New First Floor Space Commencement Date shall commence April 1, 2002. (2) For be deemed to have occurred with respect to the New Second Floor Space, Rental shall commence Initial Premises on the later of date Tenant first occupies the date that the New Second Floor Space is Ready Initial Premises for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. Howevernormal business operations, if such date is earlier than the date 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) 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 Lessor’s Work, and will be responsible for the cost of such changesdates described above, provided that any delay so long as Tenant is not in occupancy of the date Initial Premises the Premises are Ready for Occupancy as a result thereof Commencement Date shall not delay the commencement of Rentals and occur earlier than July 1, 2000. The Commencement Date shall not extend rental abatement periods against be deemed to occur until the Lessor. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental following conditions shall commence as provided in Section 40(b) below.have been satisfied by Landlord:

Appears in 1 contract

Samples: Lease Agreement (Visio Corp)

Commencement Date. Notwithstanding (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 fifty (150) days after Landlord has delivered possession of the 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 or before January 2, 2007, 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 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 Delivery Date until delivery of the demised premises is made to Tenant consistent with the terms of this Lease. Time is of the essence regarding all dates set forth in this Section 3. (b) Possession of the demised premises shall not be deemed to have been given to Tenant until Landlord has, at its sole cost and expense, delivered actual possession of the 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 4 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 Leasework described on Exhibit “C”, Lesseeattached hereto and made a part hereof (“Tenant’s obligation 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 payment performance of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor SpaceTenant’s Work cannot be obtained, 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 additional costs are incurred as a result of Lessee’s actions thereof, or inactions, then Rental in the event that necessary governmental permits and approvals for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) Lessor or Lessee shall not make any changes to LessorTenant’s Work during the course of construction without the other party’s prior written approval. Lessor shall cannot be responsible for paying any additional costs resulting from changes requested by Lessor unless Lessee’s approval is obtained in advance. Lessee obtained, Tenant shall have the right to make changes 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 Lessorevent 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 will all sums so advanced shall be responsible 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 cost purpose of such changespreparing for its occupancy, provided that any delay it does not unreasonably interfere with Landlord’s efforts to put the demised premises 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 LessorRequired Condition. (4d) For From the Space Pocketdate 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, notwithstanding Tenant shall observe and perform all of its obligations under this Lease (except Tenant’s obligation to operate and pay minimum rent, 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 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. (e) The parties acknowledge that it asbestos is to be completed present in the 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 same premises, as more fully set forth on Exhibit C-1, attached hereto. At such time as Tenant is invoiced for such Report and/or for such abatement work, Tenant shall submits copies thereof to Landlord and Landlord shall pay to Tenant the New Second Floor Space, Rental amount of such invoice(s) within ten (10) days thereafter. Such payments by Landlord shall commence be in addition to payment of the Tenant Allowance as provided set forth in Section 40(b58 hereof. Notwithstanding anything to the contrary contained herein, including Section 36 hereof, in the event Landlord does not timely pay the amount of such invoice(s) belowto Tenant, (a) Landlord shall pay to Tenant interest on such unpaid amounts at eighteen percent (18%) per annum and (b) Tenant shall have the right to deduct any and all such amounts owed Tenant against all minimum rent and all percentage rental (but no other additional rent components) thereafter due Landlord until such time as Tenant has been credited the full amount of the invoice(s) plus applicable interest.

Appears in 1 contract

Samples: Lease (DSW Inc.)

Commencement Date. Notwithstanding the The Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation for Lease shall be the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later earlier of the date that on which: (i) Tenant takes possession of any portion of the New First Floor Space is Premises in order to conduct business thereon; (ii) the Premises would have been Ready for Occupancy or April 1, 2002. However, if the date that the New First Floor Space is Ready but for Occupancy is delayed past April 1, 2002, and such delay is solely Tenant Delays (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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay defined in the date Improvement Agreement attached hereto as Exhibit B); or (iii) 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 of substantial completion (as defined herein) of all Landlord’s Work to be constructed by Landlord in the Premises (but not the Cafeteria and Fitness Center, which Tenant acknowledges shall not be substantially completed until after the Commencement Date), except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Uses. Tenant shall, 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; and (iii) Landlord has obtained a temporary certificate of occupancy from the appropriate governmental authorities required for the legal occupancy of the Premises by Tenant. Notwithstanding anything to the contrary contained in this Lease, if the Cafeteria and Fitness Center are not Ready for Occupancy by October 1, 2002 (which date shall be subject to extension for Tenant Delays and up to ninety (90) days of Force Majeure Delays (as defined in Exhibit B), for each day thereafter that either the Cafeteria or the Fitness Center are not Ready for Occupancy, Tenant shall receive as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods credit against the Lessor. Base Rent (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided defined in Section 40(b3.1 below) belowliquidated damages in the amount of Five Hundred Dollars ($500.00) per day.

Appears in 1 contract

Samples: Lease Agreement (Palm Inc)

Commencement Date. 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 set forth in Section 4 for the 10th Floor space shall be the same as the Commencement Date for the remainder of the Lease, Lessee’s obligation for Premises (excluding the payment of Basic Rental Additional Space) and Additional Rental such Commencement Date shall commence as follows: continue to be determined pursuant to Section 1 (1p) For the Current 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 Lease without any reference or regard to the New First 10th Floor Space or the status of the Aggregate Improvements therefor, it being acknowledged by Tenant that: (a) the 10th Floor Space and the remainder of the Premises (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 as Exhibit C; (b) the 10th Floor Space is Ready not part of any Package described in Section 1(p) and thus will not delay or extend the 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 Occupancy or April 1the 10th Floor Space; and (c) Package 4 was deemed delivered pursuant to Section 1(p) of the Lease on March 30, 2002. However1990, if and thus the date that Commencement Date for the New First Premises and 10th Floor Space is Ready scheduled to occur on August 27, 1990, which is 150 days after such deemed delivery date. Notwithstanding subclause (b) above, Landlord agrees that for Occupancy each day that Tenant is actually delayed past April 1, 2002, and such delay is solely beyond the Commencement Date in substantially completing the Aggregate Improvements for the 10th Floor Space 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 New Second Floor Space, Rental shall commence on the later of Force Majeure Delays occurring after the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1hereof, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, and such delay is solely and/or as a result of LesseeLandlord 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 be entitled to a corresponding abatement of one (1) day’s actions or inactions, then Rental Base Rent otherwise payable for the New Second 10th Floor Space shall commence May 1, 2002. (3) Lessor or Lessee shall not make any changes to Lessor’s Work during the course of construction without the other party’s prior written approvalSpace. Lessor Such abatement 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 addition to the Lessor’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 6-month abatement periods against the Lessor. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(bParagraph 4(a) below.

Appears in 1 contract

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

Commencement Date. Notwithstanding (a) As herein used, the Commencement Date 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 in Section 4 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 Leasestatus 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, Lessee’s obligation for but is under no obligation, to revise the payment 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 Basic Rental a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work shall be substantially completed and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on demised premises delivered to Tenant. Upon the Commencement Date. For the New First Floor Space, Rental shall commence on the later sending of the date that Final Delivery Notice, Landlord shall have no further right to modify the New First Floor Space is Ready for Occupancy or April 1, 2002Final 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 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 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 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 New First Floor Space 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 Ready 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 exceed One Hundred Fifty Thousand Dollars and 0/00 ($150,000.00). Tenant shall not be obligated to 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 Occupancy is delayed past April 1, 2002, Landlord’s Work at the demised premises so that Tenant may obtain a building permit for Tenant’s Work and such delay is solely as a result commence performance of Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002same. (2b) For the New Second Floor Space, Rental shall commence on the later Possession of the date that demised premises shall not be deemed to have been given to Tenant unless the New Second Floor Space is Ready demised premises are ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002installation of Tenant's fixtures and finishing work by Tenant, and such delay is solely as a result are free of Lessee’s actions any violation of laws, ordinances, regulations and building restrictions relating to the possession or inactionsuse of or construction upon the demised premises, then Rental 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 New Second Floor Space Premises at Landlord's expense, for Tenant's approval. All such Landlord's Work shall commence May 1be done at Landlord's expense and in compliance with all applicable federal, 2002state 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. (3c) Lessor or Lessee shall not make any changes Prior 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 date on which possession is obtained in advance. Lessee delivered to Tenant as aforesaid, Tenant shall have the right to make changes to enter the Lessor’s Workdemised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and will be responsible for the cost of such changesreceiving merchandise and other property, provided that any delay it does not unreasonably interfere with Landlord's construction activities. All work other than that to be performed by Landlord is to be done by Tenant within ninety (90) days after the date possession of the demised premises has been delivered to Tenant, at Tenant's expense in accordance with the provisions of this Lease and as set forth in the date schedule entitled Description of Tenant's Work and attached hereto as Exhibit "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 Premises are Ready for Occupancy as event a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods mechanic's lien is filed against the Lessordemised premises or the Shopping Center on account of Tenant's Work, Tenant shall discharge or bond off same within ten (10) 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. (4d) For From the Space Pocketdate upon which the demised premises are delivered to Tenant for its work until the commencement date of the lease term, notwithstanding that it is Tenant shall observe and perform all of its obligations under this Lease (except Tenant's obligation to be completed at the same time as the New Second Floor Spaceoperate and pay minimum rent, Rental shall commence as provided percentage rent and "Tenant's Proportionate Share" (defined in Section 40(b16(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). In the event Tenant fails to open for business within one hundred twenty (120) days after the date possession of the 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-three hundred sixty five thousandths (1/365) of the annual minimum rent for each day such failure to open continues.

Appears in 1 contract

Samples: Lease (DSW Inc.)

Commencement Date. Notwithstanding 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 set forth shall be revised to mean the Substantial Completion Date; and (b) if Tenant commences business operations in any portion of the Premises prior to the Commencement Date, the Commencement Date shall be deemed to have occurred on the date Tenant commences business operations in the Premises. Notwithstanding the foregoing, if Landlord is delayed in completing Landlord’s Work (as defined in the 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 Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental Substantial Completion Date shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence be deemed to have occurred on the Commencement Datedate the Substantial Completion Date would have occurred in the absence of such Tenant Delay, as reasonably determined by Landlord or Landlord’s architect. For Tenant shall be responsible for and shall pay any additional costs and expenses incurred by Landlord in connection with the New First Floor Space, Rental shall commence on the later completion 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 Landlord’s Work as a result of Lessee’s actions or inactionsany Tenant Delay. Notwithstanding the foregoing, then Rental for if the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be Substantial Completion Date does not occur on or before May 131, 2002) or May 12004, 2002. However, if the date 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) 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 Tenant shall have the right to make changes terminate this Lease by delivery of written notice to Landlord no later than June 15, 2004. 2. If the Commencement Date is other than December 29, 2003, then Landlord shall prepare and deliver to Tenant a Commencement Date Confirmation substantially in the form attached hereto as Exhibit D that sets forth both the Commencement Date and Termination Date for this Lease. Tenant shall execute the Commencement Date Confirmation and deliver the executed original of the same to Landlord within three (3) business days after Tenant’s receipt thereof. Provided that Tenant has not objected in writing within such three (3) business day period to the Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay Commencement Date or Termination Date set forth in the date Commencement Date Confirmation, Tenant’s failure to timely execute and return the Premises are Ready for Occupancy Commencement Date Confirmation document to Landlord shall be conclusive evidence of Tenant’s agreement with the information as set forth therein. 3. This Lease shall be a result thereof shall not delay binding contractual obligation effective upon execution and delivery hereof by Landlord and Tenant, notwithstanding the later commencement of Rentals and shall not extend rental abatement periods against the LessorLease Term. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Pericom Semiconductor Corp)

Commencement Date. Notwithstanding The Term will begin on the "Actual Commencement Date". The "Actual Commencement Date" is scheduled to be around the Initial Commencement Date set forth in Section 4 the Data Section, or unless Landlord is delayed in completing any 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 tenders possession of the LeaseLeased Premises to Tenant, Lessee’s obligation in substantially the condition promised to Tenant (for example - as-is & broom clean and/or with substantial completion of Landlord's Initial Fit-Out Work - as may be set forth in other provisions of this Lease regarding the payment condition of Basic Rental and Additional Rental the Leased Premises upon delivery to Tenant). The Actual Commencement Date of this Lease shall commence as follows:be subject to the following conditions all being satisfied. (1) For Landlord shall have performed and made the Current 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 Leased Premises available to Tenant or its occupancy 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, Tenant's exclusive use 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. possession; (2) For Landlord has substantially completed the New Second Floor Space, Rental shall commence on work pursuant to the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected work and drawings to be on or before May 1, 2002) or May 1, 2002. However, if the date 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. approved by Tenant pursuant to Exhibit C - Landlord's Initial Fit-Out Work; (3) Lessor or Lessee 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 make any changes to Lessor’s Work during completed the course of construction without Building and the other party’s prior written approval. Lessor shall be responsible for paying any additional costs resulting from changes requested Leased Premises by Lessor unless Lessee’s approval is obtained in advance. Lessee June 15, 1999, then Tenant, at its sole option, shall have the right to make changes to the Lessor’s Work, terminate this Lease and will be responsible for the cost of such changes, provided that released from 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 Lessorfurther obligation by so notifying Landlord within fifteen (15) days thereafter. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Assignment of Lease (Clayton Holdings Inc)

Commencement Date. Notwithstanding The term of this Lease shall be for ninety-six (96) 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 second floors of the Premises are not Substantially Complete (as hereinafter defined) by the Scheduled Commencement Date, and such a delay is due solely to a Landlord Delay (as defined in the Work Letter), or Force Majeure (as defined in Article 52), the Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation Lease shall be extended on a day for day basis for each day of such a delay. In the payment event the Tenant Improvements (as defined in the Work Letter) on either the first or second floors of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on Premises are Substantially Complete prior to the Scheduled 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Tenant shall have the right to make changes early occupancy of such floor of the Premises, subject to all the terms and conditions of this Lease, except for Tenant's obligation to pay Rent (as defined below). Tenant hereby acknowledges and agrees that the installation of the elevator and the demising of the lobby of the Premises shall be completed by Tenant, at Landlord's cost and expense, pursuant to the Lessor’s Workterms of the Work Letter; provided, and will be responsible for however, that the cost completion of such changes, provided that any delay in the date the Premises are Ready for Occupancy as a result thereof work shall not delay be a condition to the commencement of Rentals 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"), 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 substantially complete, (2) Tenant first occupies such floor of the Premises for the operation of Tenant's business, or (3) 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 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) scheduled termination date of this Lease and (c) Tenant's acceptance of the Premises. The Tenant's failure to execute the Commencement Date Memorandum shall not extend rental abatement periods against the Lessoraffect Tenant's liability hereunder. (4) For 1.1.3 Reference in this Lease to a "Lease Year" shall mean each successive twelve month period commencing with the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) belowCommencement Date.

Appears in 1 contract

Samples: Lease (Xicor Inc)

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 (A) The Term of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental this Lease shall commence on the date that Landlord notifies Tenant that it has substantially completed Landlord's Work. Within ten (10) days after the Commencement Date, Landlord's representative and Tenant's representative shall jointly examine the Premises and shall compile a list of any remaining items of work which Landlord may be obligated to complete ("punch list items"). For The taking of possession of the New First Floor SpacePremises by Tenant shall be deemed an acceptance of the Premises and an acknowledgment that Landlord's Work has been substantially completed, Rental but Landlord shall thereafter complete the punch list items. (B) If Tenant takes possession of the Premises prior to 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 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 later of the date that this Lease would have commenced had not the New First Floor Space is Ready 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 Occupancy or April 1, 2002. However, if herein in 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 event of Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002Tenant's default. (2D) For Landlord's Work shall be deemed to have been substantially completed when the New Second Floor SpacePremises may be lawfully occupied and the heating, Rental shall commence on ventilation, air conditioning, mechanical and elevator systems serving the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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, 2002Premises are operable. (3E) Lessor or Lessee shall not make any changes Tenant shall, upon the demand of Landlord, promptly execute, acknowledge and deliver to Lessor’s Work during Landlord an instrument substantially similar to that annexed hereto as Exhibit E, confirming the course dates of construction without commencement and expiration of the Term of this Lease and such 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay in the date the Premises matters as 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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.set forth on Exhibit E.

Appears in 1 contract

Samples: Lease Agreement (Premiere Technologies Inc)

Commencement Date. Notwithstanding (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) ninety (90) 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 completed between March 1, 2004 and June 1, 2004 (the "Delivery Period"). Landlord shall give Tenant notice (the "Estimated Delivery Notice") no later than January 1, 2004 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 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 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 delivery 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, 2004, Tenant may defer delivery until January 1, 2005. If Landlord does not deliver the 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 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. Tenant shall not be obligated to 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 4 3(a). Landlord shall obtain a certificate of the Lease, Lessee’s obligation occupancy for the payment demised premises as part of Basic Rental and Additional Rental shall commence as follows: (1) For the Current 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, 2002Landlord's Work. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Retail Ventures Inc)

Commencement Date. Notwithstanding (a) As herein used, the Commencement Date phrase "commencement date" shall mean the earlier of: (i) the day Tenant opens for business in the demised premises, or (ii) ninety (90) 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 in Section 4 on Exhibit "B", attached hereto and made a part hereof) completed between July 1, 2005 and August 15, 2005 (the "Delivery Period"). Landlord shall give Tenant notice (the "Estimated Delivery Notice") no later than May 1, 2005 of the Leasestatus 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, Lessee’s obligation for but is under no obligation, to revise the payment 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 Basic Rental a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work shall be substantially completed and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on Leased Premises delivered to Tenant. Upon the Commencement Date. For the New First Floor Space, Rental shall commence on the later sending of the date that Final Delivery Notice, Landlord shall have no further right to modify the New First Floor Space is Ready for Occupancy or April 1, 2002Final 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 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 Tenant as required herein by August 15, 2005, Tenant may defer delivery until January 2, 2006. If Landlord does not deliver the 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 event that the New First Floor Space 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 Ready for Occupancy is delayed past April 1made to Tenant consistent with the terms of this Lease, 2002, and such delay is solely as a result including substantial completion of Lessee’s actions or inactions, then Rental for the New First Floor Space Landlord's Work. Tenant shall commence April 1, 2002. (2) For not be obligated to accept possession of the New Second Floor Space, Rental shall commence on demised premises prior to the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002a) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, and such delay is solely as a result substantial completion of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002. (3) 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 Lessor’s Landlord's Work, (b) the first day of the Delivery Period and will be responsible (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 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. (4) For the Space Pocket, notwithstanding that it is to be completed Landlord's Work at the same time as demised premises so that Tenant may obtain a building permit for Tenant's Work and commence performance of the New Second Floor Space, Rental shall commence as provided in Section 40(b) belowsame.

Appears in 1 contract

Samples: Lease (Retail Ventures Inc)

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 (A) The term of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental this Lease shall commence on the date that Landlord delivers vacant and exclusive possession of the Premises to Tenant with Landlord’s Premises Work Substantially Complete (such date that Landlord delivers vacant and exclusive possession of the Premises to Tenant with Landlord’s Premises Work Substantially Complete being referred to herein as the “Commencement Date”). For the New First Floor Space, Rental Landlord shall commence on the later give Tenant at least ten (10) days advance notice 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 New Second Floor Space, Rental shall commence on the later occurrence of the date Commencement Date (it being understood that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Landlord shall have the right to make changes give more than one (1) such notice as hereinafter provided), with the understanding, however, that (x) Landlord shall not be in default if the Commencement Date occurs earlier or later than the date that Landlord specifies in any such notice to the Lessor’s Work, and will be responsible for the cost of such changesTenant, provided that Landlord gives such notice to Tenant in good faith, and (y) the Commencement Date shall occur as otherwise provided in this Lease notwithstanding that the Commencement Date occurs earlier or later than the date that Landlord specifies in any delay such notice, provided that Landlord gives such notice to Tenant in good faith. (B) Landlord shall 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 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 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 Premises Work is not Substantially Complete on or prior to the fifth (5th) day after Tenant’s delivery of the Termination Notice, then this Lease shall automatically terminate on such fifth (5th) day; it being understood, however, that if Landlord shall deliver the Premises to Tenant with Landlord’s Premises Work Substantially Complete by such fifth (5th) day, then such Termination Notice shall be deemed null and void and this Lease shall remain in full force and effect and Tenant shall have no further right to terminate this Lease pursuant to this Section 1.2(B). If Tenant effectively exercises such aforesaid right to terminate this Lease, then, subject to the terms hereof, from and after the Third Outside Date, neither party shall have any further rights or obligations hereunder except for those obligations which expressly survive the Expiration Date. For purposes of clarity, Landlord and Tenant agree that there shall be no cap on the number of days that the First Outside Date, the Second Outside Date and the Third Outside Date are Ready for Occupancy each adjourned as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the LessorEpidemic/Pandemic Unavoidable Delays. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (fuboTV Inc. /FL)

Commencement Date. (a) Notwithstanding any provision to the Commencement Date set forth contrary contained in Section 4 of the Lease, Lesseeand 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 obligation 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 Basic Rental and Additional Rental shall commence as follows: Rent (1) For other than the Current Second Floor Spacefirst months Rent), Rental shall which will 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. (2c) For Tenant shall diligently apply for all licenses and permits in relation to the New Second Floor Expansion Space, Rental shall commence on . In the later event Tenant’s receipt of its business license is delayed due to requirements resulting from the date that the New Second Floor Space is Ready for Occupancy (which is expected fire inspection to be on or before May 1done during the permitting process, 2002the Commencement Date shall be delayed only if (i) or May 1, 2002. However, if the date that fire inspection requires certain work be done to the New Second Floor Expansion Space is Ready for Occupancy is delayed past May 1, 2002prior to any occupancy, and such delay (ii) the work required is solely as a result of Lesseedue to conditions that existed prior to Tenant’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002Early Occupancy period. (3) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (CardioVascular BioTherapeutics, Inc.)

Commencement Date. Notwithstanding the The Commencement Date set forth in Section 4 shall be the earlier of May 1, 1992 or the date (a) ten (10) days after the date on which all of the Leasefollowing conditions have been met: (i) all of the work required to be performed by Tenant on the interior of, Lessee’s obligation 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 payment Permitted Uses containing no exceptions which interfere with the use of Basic Rental the Premises for the Permitted Uses; or (b) Tenant commences operations of its 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 Additional Rental 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 items is necessary to make the Premises tenantable for the Permitted Uses. If the Substantial Completion Date occurs pursuant to clause (b) of this Section, Tenant shall commence comply with those conditions in clause (a) for which it is responsible as follows: (1) For promptly as possible following the Current Second Floor SpaceSubstantial Completion Date. Tenant shall as promptly as possible complete any uncompleted work, Rental including minor items and items which earlier were impracticable to perform. Additionally, Tenant shall commence on proceed as promptly as possible after issuance to eliminate any exceptions contained in the Certificate of Occupancy. Upon occurrence of the Commencement Date. For the New First Floor Space, Rental Landlord and Tenant 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 enter into a side letter acknowledging 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, 2002date. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Analog Devices Inc)

Commencement Date. Notwithstanding The "TARGET COMMENCEMENT DATE" is June 1, 2000. The "COMMENCEMENT DATE" of this Lease will be 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 set forth in Section 4 is delayed by reason of delays caused by the LeaseTenant (a "TENANT DELAY"), Lessee’s obligation including, but not limited to, the failure of Tenant to timely deliver construction drawings to Landlord for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For Tenant Improvements, then the Current Second Floor Space, Rental shall Commencement Date will be deemed to occur on the Target Commencement Date. The Term will commence on the Commencement Date. For The "RENT COMMENCEMENT DATE" will be the New First Floor Space, Rental shall 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 later Rent Commencement Date. Upon request, the Tenant will execute a memorandum confirming the Commencement Date in the form of 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 date that foregoing three sentences of $132,813.00. Tenant shall use its best efforts to negotiate a per day holdover at the New First Floor Space is Ready for Occupancy 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 by the Target Commencement Date, and Landlord will have no obligation to pay other damages, direct, indirect, special or April consequential by reason of this Lease. If the Commencement Date has not occurred by September 1, 20022000, 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. However, if If the date that the New First Floor Space is Ready for Occupancy is delayed past April Commencement Date has not occurred by October 1, 20022000, as that date is extended for Tenant Delay (but not for other Excused Delays) (the "Completion Deadline"), 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. In the event that a casualty occurs prior to the Commencement Date, and such delay is solely as a result of Lessee’s actions or inactionsif, then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later because of the date that casualty Landlord, in Landlord's reasonable judgement, will not be able to cause the New Second Floor Space is Ready for Occupancy (which is expected Premises to be substantially completed and the Commencement Date to occur on or before May 1, 2002) or May 1, 2002. However, if the date 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 inactionsCompletion Deadline, then Rental for the New Second Floor Space Landlord shall commence May 1, 2002. (3) Lessor so notice Tenant and either Landlord 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 Tenant shall have the right to make changes terminate this Lease by giving written notice to the Lessor’s Workother within 10 days following Landlord's notice; if neither party so elects to so terminate this Lease, then Landlord will proceed with the construction and will the Completion Deadline shall be responsible for extended by the cost of such changes, provided that any delay in resulting from 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 Lessorcasualty. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Plato Learning 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 set forth in Section 4 of the Leasehas not occurred on or before February 15, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: 1997 (1) For the Current 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 other than as a result of Lessee’s actions or inactionsany "Tenant Delay", then Rental for as such term is defined in Exhibit C hereto), the New First Floor Space parties mutually agree that the Term of this Lease shall commence April 1expire on February 15, 2002. 2003, regardless of when the Commencement Date occurs (2) For in other words, the New Second Floor Space, Rental shall commence on the later Term of the date that the New Second Floor Space is Ready for Occupancy Lease shall be shorter than seventy-two (which is expected to be on or before May 1, 200272) or May 1, 2002. However, full months if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1Commencement Date occurs after February 15, 2002, and such delay is solely 1997 other than as a result of Lessee’s actions or inactionsany 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 Rental 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 adjusted to be that date upon which Landlord's Work would have been completed but for such Tenant Delay (but only to the New Second Floor Space extent such Tenant Delay exceeded fifteen (15) days), and the Lease Term shall commence May expire on the earlier of (1) that date which is seventy-two (72) full months after the Commencement Date or (2) that date which is calculated by measuring seventy-two (72) full months after the date Landlord's Work would have been completed but for such Tenant Delay (but not later than February 15, 20021997), 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 there were twenty (20) days of Tenant 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 deemed to be February 23, 1997, and the expiration of the Lease Term shall be February 22, 2003, (B) if there were ten (10) days of Tenant 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 24, 2003, (C) if there were ten (10) days of Tenant Delay and completion of Landlord's Work and delivery of the Completion Notice was achieved on February 20, 1997, then the Lease Commencement Date shall be February 20, 1997, and the expiration of the Lease Term shall occur on February 19, 2003, and (D) if there was no Tenant 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. (3b) Lessor Any entry and/or occupancy of the Premises by Tenant, its agents, employees or Lessee shall not make any changes contractors prior to Lessor’s Work during the course of construction without the other party’s prior written approval. Lessor Commencement Date shall be responsible for paying any additional costs resulting from changes requested by Lessor unless Lessee’s approval is obtained at Tenant's sole risk, and deemed pursuant to, and subject to, all of the terms and provisions of this Lease; provided, however, in advance. Lessee no event shall have Tenant, its agents, employees or contractors be entitled to enter the right to make changes Premises or take occupancy thereof prior to the Lessor’s Work, and will be responsible for date it receives Landlord's notice that the cost of such changes, provided that any delay in the date the Premises same are Ready for Occupancy except for the "Early Work", as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessorset forth in Exhibit C hereto. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Creditrust Corp)

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 of the This Lease, Lessee’s and the obligation for the payment of Basic Rental to pay Minimum Annual Rent and Additional Rental shall commence additional Rent hereunder (subject to any rent-free period as follows: (1provided under Section 4(c) For the Current Second Floor Spaceabove), Rental shall commence on the date (the “Commencement Date. For ”) that is the New First Floor Spaceearlier 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, Rental but less than substantially all, of the Premises shall commence on 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 the New First Floor Space is Ready for Occupancy or April 1, 2002. However, if 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 New First Floor Space is Ready for Occupancy 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 past April 1, 2002, and such delay is solely as a result of Lessee’s actions or inactionsany such delay caused by Tenant, then Rental the Commencement Date shall be the date this Lease would have commenced but for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later such delay. The 60-day period for completion of the date that the New Second Floor Space is Ready for Occupancy Initial Tenant Improvements contemplated in subsections (which is expected to be on or before May 1, 2002ii) or May 1, 2002. However, if the date 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. (3iii) 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 above shall be responsible extended for paying any additional costs delay resulting from changes requested by Lessor unless Lessee’s approval is obtained in advance. Lessee shall have the right Force Majeure events, applying to make changes to the Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at Tenant the same time as the New Second Floor Space, Rental shall commence as provided in definition of “Force Majeure” applicable to Landlord under Section 40(b4(c) belowabove.

Appears in 1 contract

Samples: Lease Agreement (Kroll Inc)

Commencement Date. Notwithstanding the The Commencement Date shall be the last to occur of [February 15, 2000] or the day following the 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 Section 4 (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 necessary to ensure that LESSEE's failure to perform the same does not in any 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, any and all delays caused as a result thereof, shall automatically provide LESSOR with an extension of the Construction Deadline and any and all deadlines hereunder this Lease for a duration equal to LESSEE's delay. Where LESSEE's default hereunder results in delays to LESSOR's ability to substantially complete LESSOR's Work, or, 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 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 Lease. Lessor shall complete as soon as conditions permit all "punch list" items, Lessee’s obligation and Lessee shall afford Lessor access to the premises for such purposes. Promptly upon the payment occurrence of Basic Rental the Commencement Date, Lessor and Additional Rental Lessee shall commence execute a letter substantially in the form attached hereto as follows: (1) For Exhibit D, but the Current Second Floor Space, Rental failure by either party to execute such a letter shall commence have no effect on the Commencement Date, as hereinabove determined. For If the New First Floor SpaceSubstantial Completion Date has not occurred by February 15, Rental shall commence on 2001 (the later of the date that the New First Floor Space is Ready for Occupancy or April 1"Construction Deadline"), 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 terminate this Lease by giving notice to Lessor not later than thirty (30) days after the Lessor’s WorkConstruction Deadline of Lessee's election so to do, and will 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, except Lessor's obligation to immediately rebate in full any security deposit delivered to Lessor by Lessee as provided for herein. Such right of termination shall be responsible Lessee's sole and exclusive remedy at law or in equity for Lessor's failure so to complete such Lessor's Work on or before the Construction Deadline. The Construction Deadline shall automatically be extended for the cost period of such changes, provided that any delays caused by Force Majeure or for 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 Lessorcaused by Lessee. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Commercial Lease (NxStage Medical, Inc.)

Commencement Date. Notwithstanding the (a) The Commencement Date shall be targeted for the date set forth in Section 4 2.03 hereof, but shall be the earlier of: (i) the date on which the 3rd Floor Tenant Improvement Work (as defined in Exhibit C) 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 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, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current 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. (2c) For The Expansion Space Effective Date shall be the New Second Floor Space, Rental shall commence earlier of: (i) the date on which the later Expansion Space Tenant Improvement Work (as defined in Exhibit C) is substantially completed and Tenant can take occupancy of the date that Expansion Space; or (ii) the New Second Floor Space is Ready for day on which Landlord obtains a Certificate of Occupancy (which is expected to be on temporary or before May 1, 2002final if required) or May 1, 2002. However, if other form of governmental approval permitting Tenant’s occupancy of the date 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 New Second Floor completion of Expansion 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) Lessor or Lessee shall not make any changes Tenant Improvement Work due to LessorTenant’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 Changes to the LessorPlans and Specifications, Additional Work requests or Tenant’s Workdelays in giving necessary approvals, and in which case the Expansion Space Effective Date will be responsible for accelerated by the cost number of any such changes, provided that any delay in days of delay. Landlord shall inform Tenant of the anticipated date on which it expects to substantially complete the Premises are Ready for Expansion Space Tenant Improvement Work and/or receive a Certificate of Occupancy as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessor(temporary or final). (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Sco Group Inc)

Commencement Date. Notwithstanding Landlord covenants to use commercially reasonable efforts to cause substantial completion of (i) the Commencement Date set forth in Section 4 Shell Improvements and delivery of the Lease, Lessee’s obligation Premises to Tenant for the payment purposes of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later Tenant's construction of the date that Tenant Improvements in accordance with the New First Floor Space is Ready for Occupancy Work Letter on or before April 1, 2002. However2001, if and (ii) substantial completion of the date that the New First Floor Space is Ready for Occupancy is delayed past April Base Building Improvements on or before July 1, 2002, and such delay is solely 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 Lessee’s actions or inactionsthe occurrence of events of force majeure as described in Article 41 below, then Rental as Tenant's sole remedies for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later delay in Tenant's taking possession of the date 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 New Second Floor Space is Ready Shell Improvements and/or the Base Building Improvements as required herein (the "Free Rent Period"); (b) the Rent Commencement Date shall be delayed for Occupancy the 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 (which is expected to c) 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 May January 1, 20022002 due to default on the part of Landlord (determined in accordance with Article 26 below) or May 1, 2002. However, if the date 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 inactionsthe occurrence of events of force majeure as described in Article 41 below, then Rental for the New Second Floor Space shall commence May 1, 2002. (3) 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 Tenant shall have the right to make changes terminate this Lease upon ten (10) days' prior written notice to the Lessor’s Work, and will be responsible for the cost Landlord. The date on which Landlord actually delivers possession of such changes, provided that any delay in the date the Premises are Ready for Occupancy as a result thereof shall not delay to Tenant in accordance with the commencement of Rentals and shall not extend rental abatement periods against the Lessor. (4) For the Space Pocket, notwithstanding that it foregoing is referred to be completed at the same time herein as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below"Commencement Date."

Appears in 1 contract

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

Commencement Date. Notwithstanding The term of this lease (the Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1“Term”) For the Current Second Floor Space, Rental shall commence on the date (herein referred to as “Commencement Date”) which shall be the earlier of (i) the date Tenant occupies the Demised Premises for the conduct of their business or (ii) 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 Initial Improvements (as hereinafter defined) in the Demised Premises shall have been substantially completed 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 (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. For the New First Floor SpaceLandlord shall use commercially reasonable efforts to complete such punchlist items as soon as possible after receipt of notice thereof, Rental 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 New First Floor Space is Ready for Occupancy or April Commencement Date and June 1, 20022019. HoweverNotwithstanding anything herein to the contrary, if in the date that event the New First Floor Space is Ready for Occupancy is delayed past April Commencement Date does not occur by November 1, 20022019 (“Outside Date”), 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Tenant shall have the right to make changes cancel this Lease by written notice to the Lessor’s WorkLandlord, and will be responsible for the cost upon delivery of such changes, provided that notice this Lease shall be deemed terminated and neither party shall have 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 Lessorfurther rights or obligations hereunder. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Inter Parfums Inc)

Commencement Date. Notwithstanding (a) As used in this Lease, "Commencement Date" shall mean the Commencement Date set forth in Section 4 ----------------- 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 number of days the achievement of the Completion Date is delayed as the result of Tenant Delays. Notwithstanding anything to the contrary contained herein, Tenant shall not be permitted to 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 delay in the completion of the Tenant Improvements. As used in this Exhibit C-1, "Completion Date" with respect to ----------- --------------- the 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 Exhibit C-1. Landlord and Tenant estimate ----------- that the Completion Date will be February 1, 1999; however in no event shall such estimate be 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, Lessee’s obligation for including without limitation the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor SpaceCompletion Date, 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(i) Tenant's failure to meet the dates established in this Exhibit C-1, then Rental for (ii) Long Lead Time Items (defined below), (iii) any changes ----------- to the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected Tenant Improvements requested to be on or before May 1made by Tenant (and approved by Landlord), 2002(iv) or May 1Tenant's failure to sufficiently respond to Landlord's inquiries pursuant to Paragraph 1(c), 2002. However(v) any breach by Tenant of its obligations under this Lease, if including without limitation, the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002failure to comply with this Exhibit C-1, and such delay is solely as a result of Lessee’s actions (vi) any other delays caused by Tenant or inactionsTenant's engineers, then Rental for the New Second Floor Space shall commence May 1----------- architects (including Tenant Architect), 2002consultants, employees, agents, contractors and subcontractors. (3) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Entrust Technologies Inc)

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Commencement Date. Notwithstanding (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 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 4 3.1(b) through (f) below, the postponement of the Leaseapplicable Commencement Date shall be Tenant’s sole remedy at law or in equity (Tenant hereby waiving any right to rescind this Lease and/or to recover any damages for such delay, Lessee’s obligation for except as otherwise set forth in Section 3.1(b) through (f) below), but in no event shall the payment 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 Basic Rental the New York Real Property Law or any successor statute of similar import. (b) If the 19th Floor Commencement Date shall occur more than thirty (30) days after the 20th and Additional Rental 21st Floor Commencement Date (the “Outside Date”), which Outside Date shall commence as follows: 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) For day for each day beyond the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later Outside Date that Landlord fails to deliver possession of the date that the New First 19th 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, 2002Premises. (2c) For If a Commencement Date shall occur more than thirty (30) but within sixty (60) days (the New Second Floor Space“First Penalty Period”) after the applicable Original Delivery Date, Rental which Original Delivery Date shall commence on be extended by reason of Force Majeure (but not by reason of a holdover by the later then existing tenant therein), the Rent Concession Period applicable to such portion of the date Premises shall be increased by one-half (1/2) day for each day during the First Penalty Period that Landlord fails to deliver possession of such portion of the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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, 2002Premises. (3d) Lessor or Lessee If a Commencement Date shall occur more than sixty (60) but within ninety (90) days (the “Second Penalty Period”) after the applicable Original Delivery Date, which Original Delivery Date shall be extended by reason of Force Majeure (but not make any changes by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to Lessor’s Work such portion of the Premises shall be increased by one (1) day for each day 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 Second Penalty Period that Landlord fails to make changes to the Lessor’s Work, and will be responsible for the cost deliver possession of such changes, provided that any delay in portion of 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 LessorPremises. (4e) For If a Commencement Date shall occur more than ninety (90) but within one hundred twenty (120) days (the Space Pocket“Third Penalty Period”) after the applicable Original Delivery Date, notwithstanding 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 shall be increased by one and one-half (1 1/2) days for each day during the Third Penalty Period that it is Landlord fails to deliver possession of such 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 completed at extended by reason of Force Majeure (but not by reason of a holdover by the same time as then existing tenant therein), the New Second Floor Space, Rental Rent Concession Period applicable to such portion of the Premises shall commence as provided in Section 40(bbe increased by two (2) belowdays for each day during the Fourth Penalty Period that Landlord fails to deliver possession of such portion of the Premises.

Appears in 1 contract

Samples: Lease Agreement (Cowen Group, Inc.)

Commencement Date. Notwithstanding (Section 3.1): The earlier to occur of: (i) the Commencement Date date upon which Substantial Completion (as herein defined) of the Improvements (as defined in the Tenant Work Letter attached hereto as Exhibit B (the "Tenant Work Letter")) has occurred in the entire Premises, and (ii) August 1, 2012 (which August 1, 2012 will be extended by one (1) day for each day Tenant 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 conduct its business in the Premises for the permitted use set forth in Section 4 1.17 of the this Lease, Lessee’s obligation for the payment . For purposes of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on determining the Commencement Date. For the New First Floor Space, Rental shall commence on the later "Substantial Completion" of the date that Improvements in the New First Floor Space is Ready for Occupancy Premises shall occur upon completion of the following: (i) a final certificate of occupancy (or April 1its equivalent) has been obtained from the City of Farmers Branch, 2002. However, if the date that the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002Texas, and such delay is solely as a result (ii) substantial completion of Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later construction of the date 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 the contrary contained in this Lease, Landlord and Tenant hereby acknowledge and agree that Tenant will at Tenant's sole election construct the New Second Floor Space is Ready for Occupancy (which is expected Improvements in the Premises pursuant to be on or before May 1a phased construction schedule and in connection with such phased construction, 2002) or May 1, 2002. However, if the date 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) 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 Tenant shall have the right to make changes 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 Lessor’s Work, and will be responsible for the cost of such changesCommencement Date, provided that any delay in (a) a temporary certificate of occupancy (or its equivalent or other governmental action (e.g,. a final sign-off by the date Building Inspector for the Premises are Ready portion of the Improvements) shall have been issued by the appropriate governmental authorities for the Early Occupancy Space (or portion thereof), and (ii) all of the terms and conditions of this Lease shall apply, including Tenant's obligation to pay separately for reserved parking fees pursuant to the Parking Addendum attached as a result thereof Exhibit C to this Lease, during the Early Occupancy Period (if any), except that Tenant's obligation to pay monthly Base Rent shall not delay be proportionately reduced to equal an amount equal to the commencement monthly installment of Rentals and shall not extend rental abatement periods against annual rate per rentable square foot (i.e., $1.83) times the Lessor. rentable area (4based upon the BOMA Standard) For within the Early Occupancy Space Pocket, notwithstanding that it is to be completed at (as the same may exist from time to time during the Early Occupancy Period) as the New Second Floor Space, Rental shall commence as provided mutually and reasonably agreed upon in Section 40(b) belowgood faith by Landlord and Tenant.

Appears in 1 contract

Samples: Office Lease (Copart Inc)

Commencement Date. Notwithstanding the The Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation for Lease shall be the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later earlier of the date that on which: (i) Tenant takes possession of any portion of the New First Floor Space is Premises in order to conduct business thereon; (ii) the Premises would have been Ready for Occupancy or April 1, 2002. However, if the date that the New First Floor Space is Ready but for Occupancy is delayed past April 1, 2002, and such delay is solely Tenant Delays (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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay defined in the date Improvement Agreement attached hereto as Exhibit B); or (iii) 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 of substantial completion (as defined herein) of all Landlord’s Work to be constructed by Landlord in the Premises (but not the Cafeteria and Fitness Center, which Tenant acknowledges shall not be substantially completed until after the Commencement Date), except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Uses. Tenant shall, 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; and (iii) Landlord has obtained a temporary certificate of occupancy from the appropriate governmental authorities required for the legal occupancy of the Premises by Tenant. Notwithstanding anything to the contrary contained in this Lease, if the Cafeteria and Fitness Center are not Ready for Occupancy by October 1, 2002 (which date shall be subject to extension for Tenant Delays and up to ninety (90) days of Force Majeure Delays (as defined in Exhibit B, for each day thereafter that either the Cafeteria or the Fitness Center are not Ready for Occupancy, Tenant shall receive as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods credit against the Lessor. Base Rent (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided defined in Section 40(b3.1 below) belowliquidated damages in the amount of Five Hundred Dollars ($500.00) per day.

Appears in 1 contract

Samples: Lease Agreement (Palmsource Inc)

Commencement Date. Notwithstanding (A) The term of this Lease shall commence on the Commencement Date set forth in Section 4 later to occur of (x) October 1, 2022 and (y) the date on which Landlord delivers vacant and exclusive possession of the LeasePremises 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, Lessee’s obligation for Landlord shall deliver to Tenant vacant and exclusive possession of the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence Premises on the Commencement Date. For 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 First Floor Space, Rental York Real Property Law. (B) The term "Pre-Delivery Work Substantial Completion Date" shall commence on mean the later 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 New First Floor Space is Ready for Occupancy or April 1Pre-Delivery Work Substantial Completion Date will occur, 2002. Howeverwith 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 New First Floor Space 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 Ready for Occupancy is delayed past April 1, 2002acceptable 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 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 delay is solely 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 result 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 Lessee’s actions 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 inactionswarranty 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 Rental for the New First Floor Space Landlord Work Costs Contribution shall commence April 1be adjusted to an amount equal to the product obtained by multiplying (x) One Hundred Fifty-Three and 47/100 Dollars ($153.47), 2002by (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) For Subject to the New Second Floor Spaceterms of Article 7 hereof, Rental any material modification in the Work Plans (as approved pursuant to Section 7.3 hereof) requested by Tenant shall commence on be made by means of a written authorization executed by Tenant (herein called a "Change Order"). Each Change Order will specify the later scope of the date that the New Second Floor Space is Ready for Occupancy (which is expected work to be on or before May 1performed and authorization to proceed. Any proposed material modification of the Work Plans shall be submitted by Tenant simultaneously to Landlord and the Work Contractor, 2002) or May 1which 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, 2002such work shall not be performed. However, if Tenant acknowledges that Tenant's submission of a Change Order shall not impair in any manner the date that occurrence of the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002Commencement Date, and such delay in no event shall the incorporation of any Change Orders into the Initial Alterations (or the applicable portion thereof that is solely as a result within the scope of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002Acceptable Construction Contract) require Landlord to fund more than the Landlord Work Costs Contribution. (3) Lessor or Lessee 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 make exceed the amount of the Landlord Work Costs Contribution); provided, however, that Landlord shall not have any changes liability to LessorTenant under this Lease arising from any delays or deficiencies in the Work Contractor’s Work during performance of 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 Initial Alterations, except to the Lessor’s Workextent 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 will be responsible for Landlord shall defer to VVA's instructions on matters relating to the cost Initial Alterations, except to the extent such instructions conflict with the rights or obligations of such changes, provided that any delay in Landlord or Tenant under this Lease or under 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 LessorWork Contract or applicable Requirements. (4) For Landlord and Tenant acknowledge that the Space Pocketportion of the Initial Alterations paid for by Landlord pursuant to this Section 1.2(C) shall constitute the property of Landlord, notwithstanding 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 it is were paid for by Landlord pursuant to be completed at this Section 1.2(C) (or Alterations that replace such portion of the same time Initial Alterations) unless Tenant replaces such portion of the Initial Alterations, or such other Alterations, as the New Second Floor Spacecase may be, Rental 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 commence 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 40(b7.8 hereof. (5) below.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 Landlord has paid to the Work Contractor an aggregate amount equal to the Landlord Work Costs Contribution and (b) the Commencement Date or (y) the date, if any, that Tenant requests that Landlord assign the Acceptable Construction Contract to Tenant, Landlord hereby assigns the Acceptable Construction Contract to Tenant and Tenant hereby assumes all obligations of Landlord thereunder (the "

Appears in 1 contract

Samples: Lease (Clear Secure, Inc.)

Commencement Date. Notwithstanding (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) ninety (90) 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 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 (the "Final Delivery Date") upon which date 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 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 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 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. Tenant shall not be obligated to 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 4 3(a). Landlord shall obtain a certificate of the Lease, Lessee’s obligation occupancy for the payment demised premises as part of Basic Rental and Additional Rental shall commence as follows: (1) For the Current 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, 2002Landlord's Work. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Retail Ventures Inc)

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 of the Lease, LesseeThe Term (defined below) and Tenant’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental to pay Rent shall commence on the date that is the day Tenant takes actual possession, which date will be no more than ten (10) business days after the date on which the Tenant Improvement Work (as defined in the Work Letter) has been Substantially Completed (as defined below) (the “Commencement Date. For Landlord shall cause the New First Floor SpaceTenant Improvement Work to be completed pursuant to the work letter attached hereto as Exhibit C (the “Work Letter”), Rental and shall commence on use best efforts to cause the later completion of the Final Plans and the Tenant Improvement 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 New First Floor Space Parties agree in writing that the Tenant Improvement Work is Ready for Occupancy or April 1all but complete, 2002except that final permits may not have been signed by the city, whereby Tenant may take possession and use the Premises as contemplated herein. HoweverIf, if at any time after the Parties agree that the Tenant Improvement Work is Substantially Complete and the date that the New First Floor Space final permits are signed by the city, Tenant’s use of the Premises is Ready for Occupancy is delayed past April 1, 2002, and such delay is solely encumbered in any manner that prevents Tenant from the normal operation of its business within the Premises as contemplated herein as a result of Lessee’s actions any work performed by Landlord, its agents, employees or inactionscontractors, then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Tenant 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 entitled to make changes to the Lessor’s Work, and will be responsible for the cost an equitable abatement of Rent during such changes, provided that any delay in the date period until such time when the Premises are Ready suitable for Occupancy as a result thereof shall not delay Tenant's unimpeded use. During the commencement first twelve (12) months of Rentals the Term of this Lease, Landlord shall, at Landlord's sole cost and shall not extend rental abatement periods against expense, repair any defects in the Lessorconstruction of the Tenant Improvement Work. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (PDF Solutions Inc)

Commencement Date. Notwithstanding The "Commencement Date" shall be the date upon which Landlord's Work (as defined in EXHIBIT C) is Substantially Complete (as 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 "Delivery Date"), the 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 Section 4 EXHIBIT C hereto, Tenant shall not be entitled to take occupancy of the LeasePremises or any portion thereof prior to the date it receives notice from Landlord that Landlord's Work is Substantially Complete. Subject to Force Majeure and Tenant Delays, Lessee’s obligation for Landlord will use all reasonable and diligent efforts to achieve Substantial Completion of Landlord's Work on or before the payment Delivery Date. Subject to Force Majeure, in the event that the Commencement Date, as established hereby and pursuant to the operation of Basic Rental and Additional Rental 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 commence as follows: abatx xx one (1) For the Current Second Floor Space, Rental shall commence on day for each day that the Commencement Date follows the Delivery Date. For Notwithstanding the New First Floor Spaceforegoing, Rental in the event Substantial Completion shall commence not have occurred on the later of the date or prior to 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (day which is expected six (6) months after the execution hereof, subject to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, and such delay is solely as a result an additional period of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002. up to three (3) Lessor months if Substantial Completion is delayed by the occurrence of one or Lessee shall not make any changes to Lessor’s Work during more events of Force Majeure (the course of construction without the other party’s prior written approval. Lessor "Outside Delivery Date"), Tenant shall be responsible for paying any additional costs resulting from changes requested permitted to terminate this Lease by Lessor unless Lessee’s approval written notice given to Landlord within ten (10) days after the Outside Delivery Date. If such notice is obtained in advance. Lessee shall have the not so given, Tenant's right to make changes so terminate this Lease shall be deemed to the Lessor’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 Lessorhave been waived. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (MCK Communications Inc)

Commencement Date. Notwithstanding (a) If Tenant Does Not Utilize Full Service Space Planner. If Tenant does not employ a Full Service Space Planner under the Commencement Date set forth in Section 4 terms of subparagraph 3.1(b), below, then the following provisions of this subparagraph 3.1 (a) shall apply. The term of the Lease, Lessee’s obligation for Lease under Section 1.5 of the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental Lease shall commence on the earlier of: (i) thirty (30) days after the Completion Date (as the Completion Date is defined in Paragraph 1.3, above); or (ii) the date a certificate of occupancy (either temporary or permanent) is 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 the "Commencement Date" of the Lease. For Landlord and Tenant recognize that the New First Floor SpaceCommencement Date of the Lease could occur prior to the completion of construction of the Tenant Improvements. (b) If Tenant Utilizes a Full Service Space Planner. If Tenant on or before July 1, Rental 1998 Engages a "Full Service Space Planner" approved by Landlord, which approval shall not be unreasonably withheld, to provide all of the architectural, engineering, construction supervision and design services for the Tenant Improvements, then the term of the Lease under Section 1.5 of the Lease shall commence on the later first to occur (a) shall not apply. Such Commencement Date under this subparagraph 3.1 (b) shall occur: (i) one (1) day earlier than the defined Commencement Date, 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 New First Floor Space is Ready Shell available to Tenant 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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 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 extend rental abatement periods against apply. The following items causing a delay in construction of the Lessor. (4) For Tenant Improvements or the Space Pocket, notwithstanding that it is to Shell shall be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.a "Tenant Delay" under this subparagraph 3.1

Appears in 1 contract

Samples: Industrial Real Estate Lease (Netcom Systems Inc)

Commencement Date. Notwithstanding The "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 date (the "Commencement Date") that is the earlier to occur of: (i) one hundred-eighty (180) days from: (a) the Delivery Date (as such term is defined hereinbelow); or (B) 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 set forth 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 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 such term is defined in Section 4 of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: hereof). Within thirty (130) For the Current Second Floor Space, Rental shall commence on days after the Commencement Date. For , Landlord shall provide to Tenant, and Tenant and Landlord shall execute, a Commencement Date Agreement setting the New First Floor Space, Rental shall commence on Commencement Date and the later expiration date of the date that Initial Term in the New First Floor Space is Ready for Occupancy or April 1form attached hereto as Exhibit D. If Tenant occupies the Premises prior to the Commencement Date, 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 early occupancy shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later be subject to all of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, terms and such delay is solely as a result conditions of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002this Lease. (3) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement

Commencement Date. Notwithstanding (a) The Term shall commence on the Commencement Date set forth earlier of: (i) ten (10) days following 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 4 1.4 of the Lease, Lessee’s obligation for plus the payment portion of Basic Rental and Additional Rental shall commence as follows:a calendar month, if any, immediately following commencement. (1b) For If despite Lessor's diligent efforts Lessor's work upon the Current Second Floor Space, Rental shall commence on Leased Premises improved in accordance with the Commencement Date. For provisions of Exhibit "C" are not substantially completed by a date which is 300 days following the New First Floor Space, Rental shall commence on the later date of the issuance of the building permit to the Lessor for construction of the Lessor's work specified in Exhibit "C" (the "Estimated Completion Date") , provided that said date that shall be extended for period equal to the New First Floor Space is Ready time construction has been delayed due to Permissible Delays, then, in such event, for Occupancy or April 1each day of such further delay caused by Lessor, 2002Lessee 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 Minimum Monthly Rent obligation. However, if for each day of delay beyond the date that Estimated Completion Date caused by Lessee Delay, Lessee shall pay additional rent to Lessor computed in the New First Floor Space is Ready same manner which shall be payable with the first regular installment of Minimum Monthly Rent. However, any such delay, whether caused by Lessee or Lessor, shall be subject to a 5 day period during which the culpable party shall not be responsible for Occupancy is delayed past April 1the remedies herein above described. In no event, 2002however, and such delay is solely shall extensions 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 Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002delay. (2c) For If the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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. Term has not commenced within three (3) Lessor or Lessee shall not make any changes to Lessor’s Work during the course years from date of construction without the other party’s prior written approval. Lessor execution hereof, it 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 Lessor’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 Lessorautomatically terminated. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Sublease (Sangstat Medical Corp)

Commencement Date. Notwithstanding (a) Landlord, at its cost and expense, will complete the Commencement Date set forth Landlord's Work (as defined and described in Section 4 Exhibit C) and obtain a Certificate of Occupancy for the Building, prior to the commencement of construction of the LeaseImprovements (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, Lessee’s obligation " as defined in Paragraph A.2 of Exhibit C), which the parties acknowledge will be completed 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 payment Improvements (as defined in Exhibit C) for such portion of Basic Rental the Premises (which Final Plans shall contain all necessary details and Additional Rental shall commence specifications regarding such Landlord VAV Work)] (collectively, "VAV 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 follows: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. (1b) For Landlord shall substantially complete Landlord's Work (other than the Current Second Floor SpaceLandlord VAV Work), Rental shall commence on obtain a Certificate of Occupancy for the Commencement DateBuilding and deliver possession of the Premises to Tenant in order to allow Tenant to complete the Improvements therein. For the New First Floor Space, Rental shall commence on the later of On the date that Landlord substantially completes Landlord's Work (except for the New First Floor Space 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 Ready for Occupancy or April 1used 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 on such Delivery Date, 2002which date is targeted to be January 7, 2000. However, if the date that the New First Floor Space is Ready for Occupancy Delivery Date is delayed past April 1beyond such targeted Delivery Date or any other date scheduled or targeted as the Delivery Date by mutual agreement of Landlord and Tenant, 2002, 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 such delay is solely this Lease shall not be rendered void or voidable as a result of Lessee’s actions such delay. However, notwithstanding the foregoing, if Landlord does not deliver possession of the Premises to Tenant in accordance with the foregoing terms on the targeted Delivery Date, provided that such delay is not caused solely by an act or inactionsomission of Tenant or Tenant's employees, then Rental 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 New First Floor Space 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 omission of Tenant or Tenant's employees, agents or contractors, Tenant shall commence April receive a credit against its first occurring Base Rent obligations hereunder with respect to that portion of the 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 Landlord VAV Work is delayed beyond such targeted VAV Completion Date. The parties acknowledge that Tenant shall not be obligated to pay Base Rent during such period of early occupancy between the Delivery Date and the Commencement Date . However, 2002Tenant covenants and agrees that such occupancy shall be deemed to be under all of the other terms, covenants, conditions and provisions of this Lease (except that Tenant shall not be obligated to pay for temporary electric service to the Premises prior to the Commencement Date). (2c) For Upon the New Second Floor Spacefull execution and delivery of this Lease, Rental Tenant shall commence on the later take possession of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, Premises 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) 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 enter upon the same to construct the Improvements therein. The 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), (ii) all applicable laws, 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 National Board of Fire Underwriters or any other body exercising similar functions (collectively, "Requirements") applicable thereto, 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 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 Lessor’s WorkImprovements, and will be responsible thereafter until the same are completed, Tenant shall obtain and maintain and/or cause Tenant's contractor to obtain and maintain insurance against: claims under workmen's compensation and other employee benefit acts, with limits not less than $500,000.00; claims for damages because of bodily injury, including death, to said contractor's employees and all others, 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 contractors and subcontractors shall: (1) keep the Building, the Land and all areas adjacent thereto free to debris, refuse, equipment, materials and personal property, (2) initiate, maintain and supervise all necessary safety precautions and programs in connection with the work and take all reasonable precautions for the cost 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 such changesguard 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, provided that any delay refuse, equipment, materials and personal property left on the Premises, in the date Building, on the Premises are Ready for Occupancy as a result thereof Land or any area adjacent thereto, and (ii) Tenant shall not delay 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 commencement Improvements or the Premises. During Tenant's performance of Rentals the Improvements and shall not extend rental abatement periods against Tenant's initial "move-in" into the LessorPremises, Tenant will have exclusive use, at no additional cost to Tenant, of one (1) freight elevator or hoist and one (1) passenger elevator. (41) For The Commencement Date shall be the Space Pocketearlier to occur of (i) March 1, notwithstanding that it is 2000, and (ii) the date on which Tenant substantially completes the Improvements in the Initial Portion (as defined below) of the Premises 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 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 completed at occupied for business operations (including the same time completion of other work and installations beyond the Improvements necessary for Tenant's business operations) (subject to further adjustment as the New Second Floor Space, Rental shall commence as provided set forth below in Section 40(b) below.this subparagraph (d)); and

Appears in 1 contract

Samples: Deed of Lease (Microstrategy Inc)

Commencement Date. Notwithstanding This Lease Agreement shall be for an initial term of ten (10) years (the "Initial Term") commencing on the "Commencement Date Date" (as hereinafter defined). The term "Commencement Date" shall mean the earlier of the date of (i) 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 Section 4 this Lease Agreement or (ii) the occupancy of the Lease, Lessee’s obligation for the payment Demised Premises and commencement of Basic Rental and Additional Rental shall commence as follows: business operations by Tenant or (1iii) For the Current 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 Substantial Completion would have occurred but for the New First Floor Space is Ready delay caused or contributed to by any act or neglect of Tenant or those acting for Occupancy or April 1under Tenant (including Tenant Change Orders, 2002Tenant 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 delivery of plans and specifications as set forth in Article 2 of this Lease or Tenant's selection of special or long lead time items beyond Landlord's control (provided Landlord notifies Tenant in writing of any long lead items and the actual number of days it will take to receive such items within ten (10) business days after Landlord's initial receipt of plans or specifications including such item, 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"). HoweverIf Landlord desires to allege that Tenant Delay has occurred, if no later than ten (10) business days after the occurrence of a Tenant Delay, Landlord shall deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to subparagraph (iii) hereof, to the extent any other Force Majeure Event coincides with an event of Tenant Delay, the date that the New First Floor Space is Ready Substantial Completion would have occurred but for Occupancy is delayed past April 1, 2002, and such delay is solely as a result of Lessee’s actions or inactions, then Rental other Force Majeure Event will be extended "day for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 day" to the Lessor’s Work, and will be responsible for the cost extent 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 Lessorother Force Majeure Event. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Digital Lightwave Inc)

Commencement Date. Notwithstanding the The “Commencement Date set forth in Section 4 Date” of the LeaseLease Term shall be upon Landlord’s Substantial Completion of Landlord’s Improvement Work. As used herein, Lesseethe 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 obligation 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 payment Temporary Certificate of Basic Rental Occupancy is confirmed by a Certificate of Substantial Completion provided by the Project Architect); (ii) free from any and Additional Rental shall commence all mechanics’ lien claims arising out of all work in connection therewith (other than claims filed as follows: 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 (1iii) For sufficiently completed and free from construction defects so that Tenant is able to occupy the Current Second Floor Space, Rental shall commence 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. For Landlord acknowledges that Tenant is relocating its business operations to the New First Floor Premises from its current location at 0000 Xxxxxxxx, Xxxxxxxx, Xxxxxxxx (“Existing Space”), Rental shall commence on the later that Tenant’s lease of the date Existing Space is expiring and that the New First Floor Tenant needs to vacate and deliver possession of the Existing Space is Ready for Occupancy or April 1, 2002as soon as possible. However, if 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 will incur significant damages, including, but not limited to, holdover rent. Accordingly, in the event that the New First Floor Space Substantial Completion of Landlord’s Improvement Work is Ready not achieved by the Outside Date, then Tenant shall be entitled to one (1) day abatement of Base Rental for Occupancy every one (1) day after the Outside Date until Substantial Completion. Landlord shall notify Tenant twenty (20) days prior to the date it anticipates the Improvements will be Substantially Completed. In the event that there is delayed past April 1a dispute as to whether or not the Improvements are Substantially Completed, 2002, the dispute shall be resolved by the Project Architect who prepared the Approved Plans and such delay is solely as a result of Specifications. Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later acceptance in writing of the date Improvements shall be deemed conclusively to establish that the New Second Floor Space is Ready Improvements have been Substantially Completed in accordance with the Final Approved Plans and Specifications, except for Occupancy (which is expected to be on or before May 1any Punch List Items noted by Tenant and latent defects. Notwithstanding the foregoing, 2002) or May 1, 2002. However, if as promptly as practicable following the date that Tenant takes possession, Landlord and Tenant shall enter into an appropriate amendment to this Lease to document the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, Commencement Date and such delay is solely as a result expiration date of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002Lease Term of the Lease. (3) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

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

Commencement Date. Notwithstanding Subject to the limitations hereafter set forth, the Commencement Date set forth in Section 4 shall be the last to occur of (i) that date which is 31 days after August 1, 1994 (such date as it may be extended pursuant to the Leaseterms of this Lease being the "Construction Completion Date"), Lessee’s obligation for or (ii) the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later of day which is 30 days after 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay in the date the Premises are Ready "ready for Occupancy as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessor. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence occupancy" as provided in Section 40(b4.2. 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) belowfor 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 of the Premises by Tenant for the Permitted Uses (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 occurring regardless of the condition or state of completion of Landlord's Work and Tenant shall permit Landlord to continue to perform Landlord's Work in the Premises. Tenant shall not interfere in any regard with Landlord's completion of Landlord's Work and hereby agrees to be bound by the direction of Landlord's contractor or the Construction Manager (as hereafter defined) in the event of any conflicts between the Landlord's Work and the work being performed by Tenant.

Appears in 1 contract

Samples: Sublease (Genomic Solutions Inc)

Commencement Date. the later of (i) 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 Substantial Completion Date (as defined in Exhibit B attached hereto). Notwithstanding the foregoing, if Tenant fails to duly execute and deliver the Initial Mortgagee SNDA and/or the Initial Condominium Recognition and Attornment Agreement to Landlord within ten (10) business days following Landlord’s demand therefor, 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 the Commencement Date set forth in Section 4 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 subclauses (i) and/or (ii) above, as applicable, and Tenant shall be deemed to have waived such requirement for all purposes of this Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on . Promptly following the Commencement Date. For , Landlord shall deliver to Tenant a Confirmation of Lease Terms and Dates substantially in the New First Floor Spaceform attached hereto as Exhibit C, Rental and Tenant shall commence on have ten (10) business days thereafter to execute and remit the later same to Landlord; provided, however, either party’s failure to so execute and deliver such instrument shall not affect in any manner whatsoever the validity of the date that Commencement Date, the New First Floor Space is Ready for Occupancy or April 1Rent Commencement Date, 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 Expiration Date 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 determined pursuant to the Lessorterms of this Lease, or Landlord’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 Lessoror Tenant’s obligations under this Lease. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Office Lease (Schrodinger, Inc.)

Commencement Date. Notwithstanding (a) The “Commencement Date” of this Lease shall be established as of the later to occur of (a) the date that is ninety (90) days following 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 set forth in Section 4 and the expiration date of the LeaseInitial Term; provided, Lesseehowever, that the failure of the parties to do so shall not affect the determination of such dates, nor Landlord’s obligation for the payment of Basic Rental or Tenant’s respective rights and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on obligations hereunder from and after the Commencement Date. For . (b) Landlord shall construct and complete all the New 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 Spaceof the Building shall be Substantially Completed on or before October 1, Rental shall commence 2010; all Tenant Improvements on the later Second Floor of the date that Building, together with certain of the New First 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 Space is Ready for Occupancy 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 April before November 1, 20022010. HoweverIf Landlord is unable to Substantially Complete all of the Building and other Improvements, if including all Tenant Improvement Work on the date that respective floors in accordance with the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002above Schedule (each a “Target Completion Date”), and such delay is solely not due to any act, 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 (in which event each of the Target Completion Dates shall be adjusted as 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 to 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 Lessee’s actions or inactionssuch failure by Landlord, then Rental 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 New First Floor Space value of all free rent accrued to the date of termination of this Lease and Tenant shall commence April 1have the right, 2002. at its option, to acquire the Premises (2the “Liquidated Damages Purchase Option”) For pursuant to the New Second Floor Spaceterms set forth in Section 3.2(d) by notifying Landlord in writing that Tenant is exercising the Liquidated Damages Purchase Option; or (y) perform any incomplete work to complete the Building, Rental shall commence other Improvements and/or the Tenant Improvement(s), as applicable, on behalf of Landlord. In the later event that Tenant elects to perform any such incomplete work pursuant to subsection (y) of this Section 3.2(b), Tenant shall, as of the date that Commencement Date, be entitled to a credit against Rent in the New Second Floor Space is Ready for Occupancy amount of (which is expected to be on or before May 1, 2002A) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, all reasonable costs and such delay is solely expenses incurred by Tenant as a result of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002. said work and (3B) 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 Tenant shall be responsible entitled to free Rent for paying 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 commencement of any additional such work, attempt to agree in writing upon a budget for any and all 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 Lessor’s and expenses associated with any such incomplete Base Building Work and Tenant Improvement Work, and will be responsible for but failure of the cost of such changes, provided that any delay in the date the Premises are Ready for Occupancy as a result thereof parties to so agree shall not delay or prevent Tenant from exercising its remedies hereunder and Landlord shall reserve its rights to contest the commencement reasonableness of Rentals any claim of Tenant for costs incurred by Tenant to complete the Improvements and shall not extend rental abatement periods against the LessorTenant Improvements. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

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

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 of the This Lease, Lessee’s and the obligation for the payment of Basic Rental to pay Minimum Annual Rent and Additional Rental shall commence additional Rent hereunder (subject to any rent-free period as follows: (1provided under Section 4(c) For the Current Second Floor Spaceabove), Rental shall commence on the date (the "Commencement Date. For ") that is the New First Floor Spaceearlier 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, Rental but less than substantially all, of the Premises shall commence on 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 the New First Floor Space is Ready for Occupancy or April 1, 2002. However, if 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 New First Floor Space is Ready for Occupancy 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 past April 1, 2002, and such delay is solely as a result of Lessee’s actions or inactionsany such delay caused by Tenant, then Rental for the New First Floor Space Commencement Date shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of be the date that the New Second Floor Space is Ready this Lease would have commenced but for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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, 2002delay. (3) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Ontrack Data International Inc)

Commencement Date. Notwithstanding 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 set forth in Section 4 of August 3, 1997 of this Lease shall be delayed for up to three (3) 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 Commencement Date of this Lease shall be delayed a period equal to Landlord's written 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. If Altera does not deliver possession of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected Premises to be Landlord on or before May 1, 2002) or May 1, 2002. However, if 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, during which Altera continues in possession of the Premises. Although the Commencement Date shall not be affected by the date of Substantial Completion of Interior Improvements under Exhibit "B" hereto, Landlord agrees that it will keep Tenant advised on negotiations for the New Second Floor Space is Ready construction contract with the Prime Contractor, that it will provide in such contract for Occupancy is delayed past May 1, 2002penalties for delay in completion of construction by the Prime Contractor, 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) 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 that Tenant will have the right to make changes approve the Prime Construction Contract, approval not be unreasonably withheld or delayed, solely with regard to the Lessor’s Worktimeline schedule for construction, the penalties which are to be charged to the Prime Contractor in the event of delay, 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 Lessorconstruction warranties. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Quickturn Design Systems Inc)

Commencement Date. Notwithstanding (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 Substantial Completion Date. If and only if the Commencement Date is adjusted pursuant to the foregoing, then Landlord shall prepare and deliver to Tenant a Commencement Date Confirmation substantially in the form attached hereto as Exhibit D that sets forth both the Commencement Date and Termination Date for this Lease. Tenant shall execute the Commencement Date Confirmation and deliver the executed original of the same to Landlord within three (3) days after Tenant’s receipt thereof. Tenant’s failure to timely execute and return the Commencement Date Confirmation document to Landlord shall be conclusive evidence of Tenant’s agreement with the information as set forth in Section 4 therein. This Lease shall be a binding contractual obligation effective upon execution and delivery hereof by Landlord and Tenant, notwithstanding the later commencement of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows:Lease Term. (1b) For Notwithstanding the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later provisions of the date that the New First Floor Space is Ready for Occupancy or April 1, 2002. HoweverSection 1.1(a) above, 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 New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be Premises Delivery Date does not occur on or before May 1July 31, 2002) or May 12005 (the “Premises Delivery Deadline”), 2002. HoweverTenant, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1as its sole remedy, 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) 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 cancel this Lease by giving written notice of such cancellation to Landlord at any time after the Premises Delivery Deadline and prior to the LessorPremises Delivery Date, in which case this Lease shall be cancelled effective five (5) business days after Landlord’s Workreceipt of Tenant’s cancellation notice, and will unless the Premises Delivery Date occurs within said five (5) business day period; provided, however, that the Premises Delivery Deadline shall be responsible for extended by the cost number of such changes, provided days that the Premises Delivery Date is delayed due to any Force Majeure Delay (as defined below) or any delay in receiving any required permits to construct the date the Premises are Ready for Occupancy Tenant Improvements or any Tenant Delay (as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessor. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided defined in Section 40(b) 3.3 of the Tenant Improvement Agreement). In the event of such cancellation by Tenant, neither party shall have any obligations to the other under this Lease, except for obligations that survive the expiration or earlier termination of this Lease, and Landlord shall promptly return to Tenant the Lease Deposit. For purposes of this Lease, the 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. Notwithstanding anything to the contrary contained in the Lease, the Commencement Date shall be the date which is thirty-eight (38) days prior to the date of substantial completion of Landlord's Work (other than the "punchlist" items as set forth in Section 1.6 of Exhibit D to the Lease). For purposes of determining the Commencement Date as set forth in the immediately preceding sentence, 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 Tenant Delay that occurs after the date of this First Amendment (i.e., for each day of such Tenant Delay the date of substantial completion of Landlord's Work shall be moved forward by one (1) day and specifically excluding any claim of Tenant 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, Lessee’s obligation . All Basic Rental and Xxxxxx's Proportionate Share of the Estimate of the Direct Costs for the payment 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 Additional Rental shall commence as follows: (1Direct Costs already received by Landlord including pursuant to Article 1(J) For the Current 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, Lease) shall be due 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. payable by Tenant to Landlord within five (25) For the New Second Floor Space, Rental shall commence on the later business days after Xxxxxx's receipt of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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, 2002Landlord's Work Completion Notice. (3) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Crinetics Pharmaceuticals, Inc.)

Commencement Date. Notwithstanding the (a) The Commencement Date shall be targeted for the date set forth in Section 4 2.03 hereof, but shall be the earlier of: (i) the date on which the Tenant Work is substantially completed and Tenant can take occupancy of the LeaseDemised 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 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, Lessee’s obligation 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 dates on which it expects to install the carpet in the Demised Premises so that Tenant may install its furniture (the "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 payment purpose of Basic Rental conducting its normal business operations, and Additional Rental shall commence 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 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. (b) In the event Landlord does not substantially 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 no later than July 1, 2005 (the "Outside Completion Date"), which date shall be extended on a day-for-day basis for (1) For the Current Second Floor Spaceeach day of "Force Majeure," as defined herein, Rental shall commence on the Commencement Date. For the New First Floor Spaceor (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, Rental shall commence on the later and as a result, Tenant can not take occupancy of the date Demised Premises for the purpose of conducting its normal business operations, provided such delay is not attributable to Landlord's delay, then Tenant shall 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 payment above the rent otherwise due under its current lease at 00-00 Xxxxxxx Xxxxx, Fairlawn, New First Floor Space is Ready 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 with a per diem rent credit not to exceed $737.60 per day, subject to Landlord's receipt of paid rent substantiating the Holdover Rent (for Occupancy or April 1, 2002. Howeverexample, if the date that Outside Completion Date is not met by 5 days, but Tenant is obligated to pay a full month's rent plus the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002, and such delay is solely as a result Holdover Rent of Lessee’s actions or inactions$22,128, then Rental Landlord will provide for the New First Floor Space shall commence April 1Base rent credits of $22,128; however, 2002if Tenant is only obligated to pay 5 days of holdover rent, then Landlord will provide Base Rent credits of $3,688). (2c) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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 After the commencement of Rentals the Term, Landlord and Tenant shall not extend rental abatement periods against promptly execute, acknowledge and deliver to each other the LessorCommencement Date Memorandum attached hereto as Exhibit G, which confirms the actual Commencement and Expiration Dates of the Lease. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Cover All Technologies Inc)

Commencement Date. Notwithstanding (a) From and after the Effective Date, the terms and provisions of this Lease shall be fully binding on Landlord and Tenant, including prior to the occurrence of the Commencement Date. (b) If Landlord does not tender possession of the Premises or any 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 (except as expressly provided in this Section, in the definition of the Commencement Date set forth and in Section 4 4.3), and the Term shall not commence until Landlord tenders possession of the Lease, Lessee’s obligation for the payment Premises to Tenant. There shall be no postponement of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental shall commence on the Commencement Date. For Date and/or the New First Floor Space, Rental shall commence on the later of the date that the New First Floor Space is Ready Rent Commencement Date 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. (2i) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’s Work, and will be responsible for the cost of such changes, provided that any delay in the date tender of possession to Tenant which results from any Tenant Delay or (ii) any delays by Landlord in the Premises are Ready for Occupancy as a result thereof shall not delay the commencement performance of Rentals and shall not extend rental abatement periods against the Lessorany punch list items related to Landlord’s Work. (4c) For Once the Space PocketRent Commencement Date has been determined, notwithstanding Landlord shall prepare and the parties shall join in a memorandum confirming the Commencement Date, the Rent Commencement Date, 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. Pending the execution of such memorandum, each of said items shall be as specified in the Basic Lease Provisions. Landlord’s failure to deliver the foregoing memorandum shall not affect the determination of any of such dates or amounts. If Tenant fails to give Landlord written notice that it is to be completed Tenant contests Landlord’s determination of any information contained in the memorandum within thirty (30) days after Tenant receives such commencement notice, Landlord shall 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 same time as top of the New Second Floor Spacefirst page of the notice. If Tenant fails to give Landlord written notice that Tenant contests Landlord’s determination within five (5) Business Days of receipt of the second notice, Rental then Tenant shall commence as provided in Section 40(b) belowbe deemed to have accepted such determination(s).

Appears in 1 contract

Samples: Deed of Lease (FBR & Co.)

Commencement Date. Notwithstanding (a) Subject to Tenant's performance of its obligations hereunder, including, without limitation, its payment of the Commencement Date set forth 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 4 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 Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental parties hereto shall commence on a date (hereinafter referred to as the "Commencement Date. For ") which shall be the New First Floor Space, Rental shall commence on sooner of (a) the later date Tenant commences operation of its business in all or any portion of the Premises; or (b) 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, 2002Initial Leasehold Improvements have been "substantially completed". (2b) For purposes of this Article 3, the New Second Floor SpaceInitial 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, Rental shall commence subject only to normal punchlist items; and (ii) Landlord, on behalf of Tenant, has obtained a temporary certificate of occupancy from the later Town of Wilton permitting the lawful use and occupancy of the date that Premises for the New Second Floor Space is Ready for Occupancy 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. (which is expected c) Landlord's obligation to be deliver the Premises to Tenant with the Leasehold Improvements substantially completed on or before May 1, 2002the 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 May 1Landlord delay, 2002. However, if subject to the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, and such delay is solely as a result operation of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002Section 3.03. (3d) Lessor or Lessee 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 make any changes to Lessor’s Work during be a condition for establishing 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 Lessor’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 LessorCommencement Date). (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Startech Environmental Corp)

Commencement Date. Notwithstanding The Term of this Lease shall commence ("Commencement Date") on the first day of the first full month following the date on which the Improvements are Substantially Complete (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 Improvements shall be deemed to be "Substantially Complete" on the earliest of the date on which: (1) Landlord files or causes to be filed with the City of El Segundo (if required) and delivers to Tenant an architect's 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 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 3.1.1, below, and (v) Tenant's acceptance of the Premises. If the Improvements are not Substantially Complete on the Estimated Commencement Date as extended by "Force Majeure Delay" and "Tenant Delay," as those terms are defined in the Work Letter, then this Lease shall remain in effect, Landlord shall not be subject to any liability, and the Commencement Date set forth shall be delayed until the date the Improvements are Substantially Complete. Notwithstanding anything to the contrary contained herein, if there is any delay in Section 4 the Substantial Completion of the Lease, Lessee’s obligation for Improvements or in the payment occurrence of Basic Rental and Additional Rental shall commence as follows: (1) For any of the Current Second Floor Space, Rental shall commence on other conditions precedent to 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 inactionsTenant Delay, then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later regardless of the actual date that of Substantial Completion of the New Second Floor Space is Ready for Occupancy (which is expected Improvements, the Commencement Date shall be deemed to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Lessor’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 Commencement Date would have occurred if no Tenant Delay had occurred, as a result thereof shall not delay determined in accordance with Section 12 of the commencement of Rentals and shall not extend rental abatement periods against the LessorWork Letter. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease (Infonet Services Corp)

Commencement Date. Notwithstanding the The Commencement Date of the Lease will be the 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 4 6 of Exhibit “A”, the “503B Commencement Date” will be deemed to have occurred upon the earlier of: a) the day immediately after expiration of the LeaseEarly Occupancy Period (as said term is defined in Section 5 of Exhibit “A”), Lessee’s obligation for b) the payment of Basic Rental and Additional Rental shall commence as follows: (1) For date Tenant commences full scale business operations within the Current Second Floor 503B Space, Rental shall commence on having received all of the Approvals; and, c) the date Tenant advises Landlord, in writing, of its waiver of the right to terminate the portion of this Lease applicable to the 503B Space, as said right of termination is set forth in Section 6 of Exhibit “A”. The “Pharmacy Commencement Date. For ” will be deemed to have occurred upon the New First Floor Space, Rental shall commence on earlier of: a) two hundred twenty-five (225) days after the later 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 New First Floor Pharmacy Space is Ready for Occupancy or April 1, 2002as 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 date that Pharmacy Space, but Tenant is not then utilizing at least seventy-five percent (75%) of the New First Floor Space is Ready Pharmacy space for Occupancy is delayed past April 1, 2002, and such delay is solely as a result the conduct of Lessee’s actions or inactionsits business, then Rental Tenant will pay Annual Base Rent for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later that portion of the date Premises that is occupied by said employees at the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1rate of $15.75/RSF/year. Upon determination, 2002) or May 1Tenant shall, 2002. Howeverupon Landlord’s request, if execute and deliver a written statement specifying the date that Commencement Date, Expiration Date and other pertinent dates of the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002, and such delay is solely Term as a result of Lessee’s actions or inactions, then Rental for the New Second Floor Space shall commence May 1, 2002. (3) 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 Lessor’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 form that is attached hereto as a result thereof shall not delay the commencement of Rentals Exhibit “G” and shall not extend rental abatement periods against the Lessoris by this reference incorporated herein. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (HS Spinco, Inc.)

Commencement Date. Notwithstanding The Term will begin on the "Actual Commencement Date". The "Actual Commencement Date" is scheduled to be around the Initial Commencement Date set forth in Section 4 the Data Section, or unless Landlord is delayed in completing any 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 tenders possession of the LeaseLeased Premises to Tenant, Lessee’s obligation in substantially the condition promised to Tenant (for example - as-is & broom clean and/or with substantial completion of Landlord's Initial Fit-Out Work - as may be set forth in other provisions of this Lease regarding the payment condition of Basic Rental and Additional Rental the Leased Premises upon delivery to Tenant). The Actual Commencement Date of this Lease shall commence as follows:be subject to the following conditions all being satisfied. (1) For Landlord shall have performed and made the Current Second Floor Space, Rental shall commence on Leased Premises available to Tenant or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed the Commencement Date. For work pursuant to the New First Floor Space, Rental shall commence on 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 later occupancy by Tenant of the date Leased Premises for its permitted use has been issued by the applicable governmental authority; (4) Landlord has provided that all building systems serving the New First Floor Space is Ready 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 Occupancy or April 1the Building and for the Leased Premises by the Initial Commencement Date of around December 20, 2002. HoweverIn the event that Landlord has not completed the Landlord's Initial Fit-Out Work by January 31, if the date that the New First Floor Space is Ready for Occupancy is delayed past April 12003, 2002Tenant, and such delay is solely as a result of Lessee’s actions or inactionsat its sole option, then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 terminate the Lease and be released from any further obligations by notifying Landlord within 15 days thereafter. This termination right is subject to the Lessor’s WorkExhibit C, 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 Lessorspecifically regarding Tenant's obligation to deliver Landlord approved Initial Fit-Out Plans. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Commercial Lease (Clayton Holdings Inc)

Commencement Date. Notwithstanding (a) As herein used, the Commencement Date 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 in Section 4 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 Leasestatus 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, Lesseebut 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 obligation for Work shall be substantially completed and the payment of Basic Rental and Additional Rental shall commence as follows: (1) For demised premises delivered to Tenant. Upon the Current Second Floor Space, Rental shall commence on the Commencement Date. For the New First Floor Space, Rental shall commence on the later sending of the date that Final Delivery Notice, Landlord shall have no further right to modify the New First Floor Space is Ready for Occupancy or April 1, 2002Final 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 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 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 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 New First Floor Space 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 Ready 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 exceed One Hundred Fifty Thousand Dollars and 0/00 ($150,000.00). Tenant shall not be obligated to 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 Occupancy is delayed past April 1, 2002, Landlord’s Work at the demised premises so that Tenant may obtain a building permit for Tenant’s Work and such delay is solely as a result commence performance of Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002same. (2b) For the New Second Floor Space, Rental shall commence on the later Possession of the date that demised premises shall not be deemed to have been given to Tenant unless the New Second Floor Space is Ready demised premises are ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date that the New Second Floor Space is Ready for Occupancy is delayed past May 1, 2002installation of Tenant’s fixtures and finishing work by Tenant, and such delay is solely as a result are free of Lesseeany 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 actions or inactionsWork. Tenant shall supply Landlord with Tenant’s prototypical plans and specifications, then Rental and Landlord shall prepare plans and specifications for the New Second Floor Space Premises at Landlord’s expense, for Tenant’s approval. All such Landlord’s Work shall commence May 1be done at Landlord’s expense and in compliance with all applicable federal, 2002state 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. (3c) Lessor or Lessee shall not make any changes Prior 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 date on which possession is obtained in advance. Lessee delivered to Tenant as aforesaid, Tenant shall have the right to make changes 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. All work other than that to be performed by Landlord is to be done by Tenant within ninety (90) days after the Lessordate possession of the demised premises has been delivered to Tenant, at Tenant’s expense in accordance with the provisions of this Lease and as set forth in the schedule entitled Description of Tenant’s Work and attached hereto as Exhibit “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, and will be responsible for Tenant shall discharge or bond off same within ten (10) days from the cost 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 changeslien, provided that any delay in the date the Premises are Ready for Occupancy and all sums so advanced shall be paid on demand by Tenant as a result thereof shall not delay the commencement of Rentals and shall not extend rental abatement periods against the Lessoradditional rent. (4d) For From the Space Pocketdate upon which the demised premises are delivered to Tenant for its work until the commencement date of the lease term, notwithstanding that it is Tenant shall observe and perform all of its obligations under this Lease (except Tenant’s obligation to be completed at the same time as the New Second Floor Spaceoperate and pay minimum rent, Rental shall commence as provided percentage rent and “Tenant’s Proportionate Share” (defined in Section 40(b16(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). In the event Tenant fails to open for business within one hundred twenty (120) days after the date possession of the 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-three hundred sixty five thousandths (1/365) of the annual minimum rent for each day such failure to open continues.

Appears in 1 contract

Samples: Lease Agreement (Retail Ventures Inc)

Commencement Date. Notwithstanding the Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation The commencement date for the payment of Basic Rental and Additional Rental shall commence as follows: Landlord Build Premises (1) For the Current Second Floor Space, Rental shall commence on the “Landlord Build Premises Commencement Date. For the New First Floor Space, Rental ”) shall commence occur on the 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 that on which Tenant occupies the New First Floor Space is Ready for Occupancy South Wing Premises and begins conducting business therein, or April (b) December 1, 20022018. HoweverThe 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 both the First Floor South Wing Premises Commencement Date and the Landlord Build Premises Commencement Date have occurred. Notwithstanding the foregoing, if Tenant desires to begin conducting business in all or any part of the date that the New First Floor Space is Ready South Wing Premises, the First Floor North Wing Premises, the Fifth Floor Premises, or the Sixth Floor Premises after the same are ready for Occupancy is delayed past April occupancy but prior to December 1, 2002, and such delay is solely 2018 (the applicable portion of the Premises being referred to herein as a result of Lessee’s actions or inactionsthe “Early Occupancy Space”), then Rental for the New First Floor Space shall commence April 1, 2002. (2) For the New Second Floor Space, Rental shall commence on the later of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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) 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 Tenant shall have the right to make changes 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 Lessor’s WorkRent due hereunder shall be prorated based on a fraction the numerator of 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; and (3) such use shall not accelerate the Commencement Date hereunder. For the avoidance of doubt, Tenant acknowledges and will be responsible for the cost of such changes, provided agrees that any delay if Tenant exercises its right to commence business in the First Floor South Wing Premises, the First Floor North Wing Premises, the Fifth Floor Premises or the Sixth Floor Premises, whether concurrently or serially, prior to December 1, 2018, then the first date on which Tenant so operates within the entire Premises are Ready for Occupancy as a result thereof shall not delay constitute the commencement of Rentals and shall not extend rental abatement periods against the LessorCommencement Date hereunder. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Lease Agreement (Cerus Corp)

Commencement Date. Notwithstanding The Commencement Date listed in Section l(g) of this Lease represents an estimate of the Commencement Date set forth in Section 4 of the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall commence as follows: (1) For the Current Second Floor Space, Rental 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 following events (i) 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 commences beneficial occupancy of any portion of the Premises other than for move in purposes, or (iii) if substantial completion of the Premises Improvements is delayed due to Tenant's failure to perform its obligations under this Lease, then the date determined by Landlord as fourteen (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. For the New First Floor Space, Rental this Lease shall commence 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 later first floor (the "Manufacturing Space") has not occurred by December 31, 1994 for any reason other than force majeure or delay caused by Tenant, or if the Premises Improvements are not all substantially complete by the seven month anniversary of the date that the New First Floor Space is Ready Commencement Date for Occupancy any reason other than force majeure or April 1delay caused by Tenant (which Tenant caused delay shall include delay caused by Tenant's failure to timely respond to plan proposals), 2002. However, if the date that the New First Floor Space is Ready for Occupancy is delayed past April 1, 2002then Tenant shall be entitled to cancel this Lease on thirty (30)days written notice to Landlord given within ten (10) days after Xxxxxxxx's failure to meet an applicable deadline, and such delay is solely as neither party shall have any further obligation to the other. Landlord shall confirm the Commencement Date by written notice to Tenant. This Lease shall be for a result of Lessee’s actions or inactions, then Rental for the New First Floor Space shall commence April 1, 2002. term (2"Lease Term") For the New Second Floor Space, Rental shall commence beginning on the later Commencement Date and ending on the Expiration Date, unless extended or sooner terminated in accordance with the terms of the date that the New Second Floor Space is Ready for Occupancy (which is expected to be on or before May 1, 2002) or May 1, 2002. However, if the date 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, 2002this Lease. (3) 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 Lessor’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. (4) For the Space Pocket, notwithstanding that it is to be completed at the same time as the New Second Floor Space, Rental shall commence as provided in Section 40(b) below.

Appears in 1 contract

Samples: Master Lease (Tripath Imaging Inc)

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