Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.
Appears in 2 contracts
Sources: Lease Agreement (Agile Therapeutics Inc), Lease Agreement (Agile Therapeutics Inc)
Commencement Date. The Commencement Date of this Lease shall be the later earliest of (a) December 1, 2021, and 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 upon on which occurs Landlord's Work (as described in Section 14 below) is substantially completed as determined by Landlord ("Rental Commencement Date").
2.2.1. Notwithstanding the Substantial Completion Scheduled Commencement Date set forth in the Basic Lease Provisions, if for any reason Landlord cannot deliver possession of the Base Building Work (Premises to Tenant on said date, Landlord shall not be subject to any liability therefor, nor shall such failure affect the penultimate sentence validity of this paragraph belowLease or the obligations of Tenant hereunder or extend the term hereof; but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within ninety (90) days following said Scheduled Commencement Date for any reason, other than Tenant's Delays as defined in the Work Letter attached hereto as Exhibit "D," Tenant may, at Tenant's option, by notice in writing to Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Premises up to the date of Landlord’s Work 's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be canceled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in accordance with LawLandlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If the Substantial Completion such written notice of the Base Building Representations and Landlord’s Work is delayed intent to cancel by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated is not timely received by Landlord, without 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 Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents premises shall be deemed delivered to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost when (and not part of Landlord’s Cap) (i1) the Demised Premises and Building Structure will improvements to be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Lawprovided by Landlord under this Lease are substantially completed, (ii2) the Demised Premises will be free from asbestos and other Hazardous Materials Building Utilities are ready for use 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 orderPremises, and (v3) 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 Tenant has reasonable access to the Building’s HVAC system: Premises.
2.2.3. If Tenant occupies the boiler providing heat Premises prior to said Commencement Date, such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably abletermination date, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date Tenant shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcpay rent for such occupancy.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 2 contracts
Sources: Office Building Lease (Maxim Pharmaceuticals Inc), Office Lease Agreement (Maxim Pharmaceuticals Inc)
Commencement Date. The Notwithstanding the Commencement Date set forth in Section 4 of this Lease the Lease, Lessee’s obligation for the payment of Basic Rental and Additional Rental shall be 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 (a) December the date that the New First Floor Space is Ready for Occupancy or April 1, 20212002. 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.
(b2) For the New Second Floor Space, Rental shall commence on the later of the date upon that the New Second Floor Space is Ready for Occupancy (which occurs is expected to be on or before May 1, 2002) or May 1, 2002. However, if the Substantial Completion 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 Base Building New Second Floor Space shall commence May 1, 2002.
(3) Lessor or Lessee shall not make any changes to Lessor’s Work (subject 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 penultimate sentence Lessor’s Work, and will be responsible for the cost of this paragraph below) and Landlord’s Work such changes, provided that any delay in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work Premises are Ready for Occupancy as a result thereof shall not delay the commencement of Rentals and Base Building Representations would have been Substantially Completedshall not extend rental abatement periods against the Lessor.
(4) For the Space Pocket, as reasonably estimated by Landlord, without notwithstanding that it is to be completed at the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 same time as the “Base Building Representations”New Second Floor Space, Rental shall commence as provided in Section 40(b) , 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcbelow.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 2 contracts
Sources: Commercial Lease (HouseValues, Inc.), Commercial Lease (HouseValues, Inc.)
Commencement Date. (A) The Commencement Date Term of this Lease shall be the later of (a) December 1, 2021, and (b) commence on the date upon 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 occurs the Substantial Completion Landlord may be obligated to complete ("punch list items"). The taking of possession of the Base Building Premises by Tenant shall be deemed an acceptance of the Premises and an acknowledgement that Landlord's Work has been substantially completed, but Landlord shall thereafter complete the punch list items.
(subject B) If Tenant takes possession of the Premises prior to the penultimate sentence 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 this paragraph below) and Landlord’s Work in accordance with Law. If possession, but the Substantial Completion Term of the Base Building Representations and Lease shall not be affected thereby.
(C) In the event that substantial completion of Landlord’s 's Work is delayed by Tenant Delaysreason of delays caused or occasioned by Tenant, then at Landlord's option the Commencement Date Term of this Lease shall commence on the date that this Lease would have commenced had not the completion of Landlord's Work been so delayed by Tenant (or as reasonably determined by Landlord) or such occurrence shall constitute a default on the part of Tenant hereunder entitling Landlord to exercise all rights and remedies provided for herein in the event of Tenant's default.
(D) Landlord's Work shall be the date the Landlord’s Work and Base Building Representations would deemed to have been Substantially Completedsubstantially completed when the Premises may be lawfully occupied and the heating, as reasonably estimated by ventilation, air conditioning, mechanical and elevator systems serving the Premises are operable.
(E) Tenant shall, upon the demand of Landlord, without promptly execute, acknowledge and deliver to Landlord an instrument substantially similar to that annexed hereto as Exhibit E, confirming the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date dates of commencement and as part expiration of the Base Building Work at Landlord’s cost (Term of this Lease and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and such 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 matters 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 are set forth on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.Exhibit E.
Appears in 2 contracts
Sources: Sublease Agreement (Webmd Inc), Sublease Agreement (Healtheon Webmd Corp)
Commencement Date. (a) The Commencement Date of this Lease shall be is the later of (a) December date set forth in the Schedule, and the parties agree that if the Premises Delivery Date does not occur on or before July 1, 20212005 for any reason, then this Lease shall not be void or voidable by either party and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom.
(bi) The parties acknowledge and agree that if the date upon which occurs the Substantial Completion of the Base Building Work (Premises Delivery Date does not occur on or before July 1, 2005, Tenant may be subject to the penultimate sentence holdover provisions of this paragraph belowits current lease, and that Tenant may be required to pay to its current landlord holdover rent as well as certain penalties and damages. Accordingly, notwithstanding Section 1.1(a) above, if the Premises Delivery Date does not occur on or before September 1, 2005 (the "Premises Delivery Deadline"), then, for each calendar month after the Premises Delivery Deadline in which the Premises Delivery Date does not occur, Tenant shall be entitled to a credit against Base Rent payable hereunder equal to twice the Monthly Base Rent payable hereunder for the first Lease Year (i.e., Two Hundred Ninety-One Thousand Six Hundred Thirty Five and 40/100 Dollars ($291,635.40)); provided, however, that (A) if Landlord’s Work in accordance with Law. If the Substantial Completion 's delivery of a portion of the Base Building Representations Premises would mitigate Tenant's obligation to pay holdover rent, penalties or damages to its current landlord and if Tenant determines, in its commercially reasonable discretion, to accept Landlord’s Work is delayed by Tenant Delays's delivery of a portion of the Premises, then then, upon Tenant's taking possession of such portion of the Commencement Date Premises, the amount of the credit under this Section 1.1(a)(i) shall be proportionately reduced on the date basis of the Landlord’s number of rentable square feet of the portion of the Premises delivered to Tenant in proportion to the total rentable square feet of the Premises; and (B) Tenant shall not be entitled to a credit under this Section 1.1(a)(i) if Tenant substantially completes the Tenant Improvement Work and Base Building Representations would have been Substantially Completedon or before January 1, as reasonably estimated by Landlord2006. Tenant shall exercise reasonable efforts to substantially complete the Tenant Improvement Work on or before January 1, 2006 using standard working methods without the Tenant Delays. Notwithstanding anything to the contrary contained hereinpayment of overtime; provided, however, that at Landlord's option, Landlord represents may require Tenant to pay for overtime, in which event Landlord shall reimburse Tenant that on the Commencement Date and as part for reasonable overtime expenses within thirty (30) days after Landlord's receipt of the Base 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, and the Demised Premises will be demised, broom clean, and in compliance with Law, a reasonably detailed invoice therefor.
(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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, if the Premises Delivery Date does not occur on or before April 1, 2006 (the "Outside Delivery Deadline"), Tenant shall have the right to cancel this Lease by giving written notice of such cancellation to Landlord at any time after the Outside Delivery Deadline and prior to the date Landlord delivers possession of the Premises to Tenant, in which case this Lease shall be cancelled effective thirty (30) days after Landlord's receipt of Tenant's cancellation notice, unless Landlord delivers possession of the Premises to Tenant within said thirty (30) day period.
(iii) The Premises Delivery Deadline and the Outside Delivery Deadline shall be extended by the number of days that the Premises Delivery Date is delayed due to any act, neglect, failure or omission of Tenant or any Tenant Parties (as defined in Section 8.2(a) below) or due to fire or other damage to or destruction of the Premises. Tenant's rent credit and cancellation right as herein described shall constitute Tenant's sole and exclusive remedy for the failure of the Premises Delivery Date to occur by the Premises Delivery Deadline or the Outside Delivery Deadline, respectively. Any rent credit granted to Tenant pursuant to Section 1.1(a)(i) above shall be applied against the first monthly installments of Base Rent payable hereunder until the rent credit is exhausted.
(b) Following the Commencement Date, Landlord shall prepare and deliver to Tenant a Commencement Date Confirmation substantially in the form attached hereto as Exhibit D that sets forth the Commencement Date, the Rent Commencement Date and the Termination Date for this Lease. Tenant shall execute the Commencement Date shall occur once Confirmation and deliver the Landlord’s Work is Substantially Completed even though executed original of the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on same to Landlord within five (5) business days after Tenant's receipt thereof. Tenant's failure to timely execute and return the Commencement Date and Landlord has commenced the Base Building Work and is working diligently Confirmation document to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete be conclusive evidence of Tenant's agreement with the above modifications to information as set forth therein. This Lease shall be a binding contractual obligation of Landlord and Tenant effective upon the Building’s HVAC system on or prior to December 1mutual execution and delivery hereof, 2021notwithstanding the later commencement of the Lease Term.
Appears in 2 contracts
Sources: Lease (Trimble Navigation LTD /Ca/), Lease Agreement (Trimble Navigation LTD /Ca/)
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the The Scheduled Commencement Date shall be only an estimate of the date actual Commencement Date, and the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that Lease Term shall begin on the Commencement Date and as part first to occur of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) following, which shall be the “Commencement Date”: (i) the Demised date Landlord offers to deliver possession of the Premises and Building Structure will to Tenant following substantial completion of all improvements to be structurally sound and free constructed by Landlord pursuant to Section 2.3 except for punchlist items which do not prevent Tenant from leaksusing the Premises for the Permitted Use, and the Demised Premises will be demised, broom clean, and in compliance with Law, or (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation date Tenant reenters into occupancy 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 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 all of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications Premises after having vacated pursuant to the Building’s HVAC system, collectively, the “Base Building Work”)Section 2.8. Notwithstanding the foregoing, the actual Commencement Date shall occur once not be earlier than September 1, 2017. Promptly following the Landlord’s Work is Substantially Completed even though delivery of possession of the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on Premises by Landlord to Tenant, Landlord shall deliver Tenant written confirmation of the Commencement Date and such other terms as Landlord shall determine appropriate; provided, however, failure to deliver such written confirmation shall not affect the Commencement Date.
(b) Notwithstanding anything in this Lease to the contrary, Tenant (upon no less than five (5) business days’ notice to Landlord) shall have the unilateral right to occupy those certain portions of the Premises (as applicable, instead of the entire Premises) (1) in which Landlord has commenced substantially completed the improvements required pursuant to Article 2.3 below and determined that such portion of the Premises is prepared for occupancy, both as Landlord reasonably determines; and (2) for which Tenant has received a temporary certificate of occupancy, in which event, (i) the Commencement Date shall not be deemed to have occurred until determined pursuant to Section 2.1(a) but such tenancy and occupancy by Tenant shall be subject to all terms and conditions of this Lease notwithstanding that the Commencement Date has not yet occurred, and (ii) Tenant’s Base Monthly Rent due and owing under this Lease shall be pro-rated on a per square footage basis until the Commencement Date occurs.
(c) Reference is herein made to those certain improvements, additions and/or alterations being constructed by Landlord to the Common Area (the “Common Area Improvements”). A list of all Common Area Improvements planned as of the Lease Reference Date is attached hereto as Exhibit E. Notwithstanding anything in this Lease to the contrary, in the event the Common Area Improvements are not substantially completed by September 1, 2017, and the remaining Common Area Improvements to be performed directly and materially adversely impact Tenant’s use and enjoyment of the Premises, the Base Building Work Monthly Rent otherwise due and is working diligently owing under this Lease shall be $23,995.10 until the earlier of the date on which the Common Area Improvements are substantially completed or the remaining Common Area Improvements to Substantially Complete be completed no longer directly and materially adversely impact Tenant’s use and enjoyment of the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcPremises.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 2 contracts
Sources: Office Lease (Arteris, Inc.), Office Lease (Arteris, Inc.)
Commencement Date. The Commencement Date of this Lease shall be Commencing on the later of earliest to occur of: (a) December 1, 2021, and (bi) the date upon on which occurs the Substantial Completion Tenant occupies any portion of the Base Building 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 (subject to the penultimate sentence of this paragraph belowas defined herein) and Landlord’s Work is Substantially Completed (as defined in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be Exhibit B attached hereto); or (iii) the date on which the Landlord’s 4th Floor Work and Base Building Representations or the 6th Floor Work, as the case may be, would have been Substantially Completed, Completed but for the occurrence of any Tenant Delay Days (as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Capdefined in Exhibit B attached hereto) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 such dates referred to herein as the “Base Building Representations4th Floor Space Commencement Date” or “4FSCD” and the “6th Floor Space Commencement Date” or “6FSCD”) ), and expiring on the Expansion Space Expiration Date (as defined below), Tenant shall lease the 4th Floor Space as depicted on Exhibit A-l attached hereto and the 6th Floor Space as depicted on Exhibit A-2 attached hereto, all subject to and in accordance with the following modifications terms and conditions of the Lease, as amended hereby. As used herein, the “4th Floor Work” and the “6th Floor Work” shall mean and refer to those certain improvements to the Building’s HVAC system: 4th Floor Space and the boiler providing heat to 6th Floor Space, as 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably ablecase may be, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two performed by Landlord in accordance with the terms of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) abovethis Amendment and Exhibit B hereto, including the above modifications Connecting Stairwell and/or a Light Well, as provided in Exhibit B hereto. The 4th Floor Work and the 6th Floor Work shall be collectively referred to the Building’s HVAC system, collectively, herein as the “Base Building Expansion Space Work”). Notwithstanding .” In connection with the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Expansion Space Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications perform certain improvements to the BuildingExisting 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 definition of the Expansion Space Work. Tenant hereby acknowledges that Landlord will be performing the Expansion Space Work during the Term (as extended hereby), and Tenant shall not be entitled to any additional 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 ▇▇▇▇▇▇▇▇’s HVAC system on or prior prosecution of the Expansion Space Work, including, without limitation, by granting Landlord access to December 1, 2021the Existing Premises and the Expansion Space and by promptly responding to matters arising in connection with the Expansion Space Work.
Appears in 2 contracts
Sources: Office Building Lease (Marqeta, Inc.), Office Building Lease (Marqeta, Inc.)
Commencement Date. The Commencement Date terms and provisions of this Lease shall be effective as of the later date of this Lease. The term of this Lease (athe "Term") December 1shall be for the duration set forth in Section 1.3 hereof and 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, 2021unless sooner terminated pursuant to the terms of this Lease. For purposes of this Lease, the term "Lease Year" shall mean each consecutive twelve (12) month period during the Term. Notwithstanding the definition of the Commencement Date for the Premises set forth in Section 1.3.2, above, Tenant shall have the right to commence business operations from any portion of the Premises (such space, the "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 such use of the Premises, and (bii) 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 upon which occurs Tenant commences business operations from the Substantial Completion applicable Pre-Occupancy Space and continuing until the Lease Commencement Date (the "Pre-Occupancy Period"). Following Tenant's possession 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 Premises, Tenant Delays, then 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 Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part later commencement of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)Term. Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc4.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Office Lease (Activision Inc /Ny)
Commencement Date. The "Space A Commencement Date of this Lease Date" shall be one hundred twenty (120) days after the later date possession of Space A (aexclusive of the 189 s.f. storage closet which constitutes a portion thereof) is tendered to Tenant, except as may otherwise be provided in Exhibit C, including with regard to delay in Substantial Completion of Tenant's Work due to Landlord Delays (as defined in Exhibit C). If possession of Space A is tendered to Tenant on December 1, 20211998, and then the Space A Commencement Date shall, subject to Landlord Delays, be April 1, 1999. The "Space B Commencement Date" shall be one hundred twenty (b120) days after the date upon which occurs the possession of Space B is tendered to Tenant, except as may otherwise be provided in Exhibit C, including with regard to delay in Substantial Completion of the Base Building Tenant's Work due to Landlord Delays (subject to the penultimate sentence as defined in Exhibit C). Occupancy of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion any portion of the Base Building Representations and Landlord’s Work is delayed Premises by Tenant Delays, then prior to the Commencement Date for such portion shall be at Tenant's sole risk and deemed pursuant to, and subject to, all of the terms and provisions of this Lease, except those involving the payment of Base Rent, 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 in no event shall Tenant be entitled to take occupancy thereof prior to the date it receives notice from Landlord that Landlord is ready to tender possession thereof to Tenant. Promptly after the Landlord’s Work Space A Commencement Date, Landlord and Base Building Representations would have been Substantially CompletedTenant hereby agree to execute a Declaration, in the form attached hereto as Exhibit B, to confirm the Space A Commencement Date. Promptly after the Space B Commencement Date, Landlord and Tenant hereby agree to execute a Declaration, in the form attached hereto as Exhibit B, to confirm the Space B Commencement Date. Tenant's failure to execute either Declaration shall not affect either Commencement Date nor the Lease Expiration Date, as reasonably estimated same are determined by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part terms of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcthis Lease.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. (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 (as set forth 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 status of Landlord's construction and the estimated date that Landlord shall deliver the Premises to Tenant with Landlord's Work substantially completed (the "Estimated Delivery Date"). Landlord may, but is under no obligation, to revise the Estimated Delivery Date any time prior to thirty (30) days prior to the Estimated Delivery Date (the "Final Delivery Notice Date"), by which time Landlord shall have given Tenant a final notice (the "Final Delivery Notice") of a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work shall be substantially completed and the Leased Premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. However, if Landlord has not delivered a Final Delivery Notice by the Final Delivery Notice Date, then the Estimated Delivery Notice shall be the Final Delivery Notice and the Estimated Delivery Date shall be the Final Delivery Date. The Final Delivery Date shall not be 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 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 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) December 1substantial completion of Landlord's Work, 2021, and (b) the date upon which occurs the Substantial Completion first day of the Base Building Work Delivery Period and (subject to c) the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawFinal Delivery Date. If the Substantial Completion Time is of the Base Building Representations and essence regarding all dates set forth in this Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s 's Work is delayed by at the demised premises so that Tenant Delays, then the Commencement Date shall be the date the Landlord’s may obtain a building permit for Tenant's Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part commence performance of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcsame.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease (Retail Ventures Inc)
Commencement Date. (A) The Commencement Date term of 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”). Landlord shall give Tenant at least ten (10) days advance notice of the occurrence of the Commencement Date (it being understood that Landlord shall have the right to give more than one (1) such notice as hereinafter provided), with the understanding, however, that (x) Landlord shall not be in default if the Commencement Date occurs earlier or later of (a) December 1than the date that Landlord specifies in any such notice to Tenant, 2021provided that Landlord gives such notice to Tenant in good faith, and (by) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on otherwise provided in this Lease notwithstanding that the Commencement Date and occurs earlier or later than the date that Landlord has commenced the Base Building Work and is working diligently specifies in any such notice, provided that Landlord gives such notice to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcgood faith.,,
(B) Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the BuildingLandlord’s HVAC system Premises Work on or prior October 1, 2021. If Landlord’s Premises Work is not Substantially Complete on or prior to December January 1, 20212022, 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 each adjourned as a result of Epidemic/Pandemic Unavoidable Delays.
Appears in 1 contract
Sources: Lease Agreement (fuboTV Inc. /FL)
Commencement Date. The (a) Notwithstanding any provision to the contrary contained in the Lease, and subject to the terms and conditions contained herein, the commencement date of the Lease for the Expansion Space shall be September 1, 2006 (the “Expansion Space Commencement Date”). Landlord will deliver to Tenant and Tenant will accept the Expansion Space on the Expansion Space Commencement Date in its “as-is” condition. Tenant acknowledges that neither Landlord nor its agents or employees have made any representations or warranties as to the suitability or fitness of the Expansion Space for the conduct of Tenant’s business or for any other purpose. Neither Landlord nor its agents or employees have agreed to undertake any alterations or construct any tenant improvements to the Original Premises or the Expansion Space.
(b) Even though the Expansion Period commences on the Expansion Space Commencement Date, Tenant shall be permitted to occupy the Expansion Space upon mutual execution of this Second Amendment and Tenant’s payment of the first months Rent due for the Expansion Period (“Early Occupancy”). Tenant’s Early Occupancy of the Expansion Space is conditioned upon Tenant’s agreement to be responsible for all other obligations existing under the Lease. Any early entry will be at Tenant’s sole risk and subject to all the terms and provisions of this Lease as though the Expansion Space Commencement Date had occurred, except for the payment of Rent (other than the first months Rent), which will commence on the Commencement Date.
(c) Tenant shall be the later of (a) December 1, 2021, diligently apply for all licenses and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject permits in relation to the penultimate sentence Expansion Space. In the event Tenant’s receipt 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 its business license is delayed by Tenant Delaysdue to requirements resulting from the fire inspection to be done during the permitting process, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) delayed only if (i) the Demised Premises and Building Structure will fire inspection requires certain work be structurally sound and free from leaksdone to the Expansion Space prior to any occupancy, 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 work required is due 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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 conditions that existed prior to December 1, 2021Tenant’s Early Occupancy period.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date which is ninety (90) days after the date that the Landlord’s 's Work and Base Building Representations would have been Substantially Completed, [as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part defined in Subparagraph 1(a) of the Base Building Work at Landlord’s cost Letter Agreement attached hereto as Exhibit "C" (and not part of Landlord’s Cap) "Work Letter Agreement")] has been substantially completed (i) the Demised Premises and Building Structure will be structurally sound and free from leaksas defined below); provided, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoinghowever, the Commencement Date shall occur once may be advanced or extended as follows: (i) if substantial completion of the Landlord’s 's Work is Substantially Completed even though delayed as a result of any Tenant Delays (as defined in the Base Building 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 not Substantially Completed delayed in the substantial completion of the Tenant Improvements beyond the ninety (90) day period set forth in this sentence as long a result of Landlord Delays (as defined in the Base Building Representations are true on Work Letter Agreement), then for each day of such delay the Commencement Date shall be extended by one (1) day. For purposes of this Lease, the 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 commenced substantially performed all of the Base Building Landlord's Work required to be performed by Landlord under the Work Letter Agreement other than minor "punch-list" type items and is working diligently adjustments which do not materially interfere with Tenant's access to Substantially Complete the Base Building WorkPremises. Subject to any Force Majeure, manufacturer delivery delaysWithin seven (7) days after Tenant receives the Landlord's Work Substantial Completion Certificate, Tenant Delay or township delays shall be entitled to have its architect inspect the Landlord's Work for purposes of confirming the matters set forth in approving plansthe Landlord's Work Substantial Completion Certificate, issuing permits, inspecting work, etc.,, 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 Tenant Improvements have been substantially completed in accordance with the Final Tenant Improvement Plans and Specifications (hereafter defined in Subparagraph 3(b) of the Work Letter Agreement) other than decoration and minor "punch-list" type items and adjustments which do not materially interfere with Tenant's use commercially reasonable efforts to Substantially Complete the above modifications to of the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained in the Lease, Tenant shall have an ongoing option (the "Acceleration Option") to accelerate the Commencement Date of all or any portion of Increment 4 that is not then subject to a lease or any right of first offer, right of first refusal, renewal or extension option, or any other right or option in favor of any other party. Tenant shall exercise the Acceleration Option by providing Landlord with notice thereof (each, an "Acceleration Notice"), in which Tenant shall designate the location and rentable square footage of the Increment 4 space requested by Tenant (the "Accelerated Increment 4 Space") and the commencement date with respect to Tenant's lease thereof (which shall not be 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 represents shall use reasonable efforts to deliver the Accelerated Increment 4 Space to Tenant that on the Commencement Date and as part 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 Base Building Work 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), Tenant shall have the right to 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 Lease (including modification of the Premises Table set forth in Section 1.02 of the Lease, and Schedule 1 and Section 1.04 of the Lease, as appropriate in each case), adding such Accelerated Increment 4 Space to the Premises at Landlord’s cost (the Rent and not part of Landlord’s Cap) 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 Demised Premises and Building Structure will Rent Commencement Date shall be structurally sound and free from leaks, and ninety (90) days after the Demised Premises will be demised, broom clean, and in compliance with LawCommencement Date of such Accelerated Increment 4 Space, (ii) the Demised Premises will Allowance for the Accelerated Increment 4 Space shall be free from asbestos pro-rated to reflect the Lease Term with respect to the Accelerated Increment 4 Space as set forth on Schedule 3 attached hereto, and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate pursuant to clause (ii) of Occupancy permitting Section I.F. of the Permitted UseWork Letter, (iv) in addition to the Common Areas will be in good working orderAllowance, and (v) the Building Systems serving the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred to not 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,a deduction therefrom, Landlord shall use commercially reasonable efforts reimburse Tenant up to Substantially Complete Two and 5011 00 Dollars ($2.50) per rentable square foot of the above modifications to the Building’s HVAC system on or prior to December 1, 2021Accelerated Increment 4 Space.
Appears in 1 contract
Sources: Lease (Zulily, Inc.)
Commencement Date. (a) As herein used, the phrase "commencement date" shall mean the earlier of: (i) the day Tenant opens for business in the demised premises, or (ii) one hundred twenty (120) days after Landlord has delivered to Tenant possession of the demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the demised premises to Tenant with Landlord's Work (as set forth on Exhibit "B", attached hereto and made a part hereof) completed between July 1, 2006 and October 15, 2006 (the "Delivery Period"). Landlord shall give Tenant notice (the "Estimated Delivery Notice") no later than July 1, 2006 of the status of Landlord's construction and the estimated date that Landlord shall deliver the Premises to Tenant with Landlord's Work substantially completed (the "Estimated Delivery Date"). Landlord may, but is under no obligation, to revise the Estimated Delivery Date any time prior to thirty (30) days prior to the Estimated Delivery Date (the "Final Delivery Notice Date"), by which time Landlord shall have given Tenant a final notice (the "Final Delivery Notice") of a firm delivery date (the "Final Delivery Date") upon which the Landlord's Work shall be substantially completed and the demised premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. However, if Landlord has not delivered a Final Delivery Notice by the Final Delivery Notice Date, then the Estimated Delivery Notice shall be the Final Delivery Notice and the Estimated Delivery Date shall be the 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 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 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) December 1substantial completion of Landlord's Work, 2021, and (b) the date upon which occurs the Substantial Completion first day of the Base Building Work Delivery Period and (subject to c) the penultimate sentence Final Delivery Date. Time is of the essence regarding all dates set forth in this paragraph below) and Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work in accordance with Law. If at the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by demised premises so that Tenant Delays, then the Commencement Date shall be the date the Landlordmay obtain a building permit for Tenant’s Work and Base Building Representations would commence performance of the same.
(b) Possession of the demised premises shall not be deemed to have been Substantially Completedgiven to Tenant unless the demised premises are ready for the installation of Tenant's fixtures and finishing work by Tenant, as reasonably estimated by Landlordand are free of any violation of laws, without the Tenant Delays. Notwithstanding anything ordinances, regulations and building restrictions relating to the contrary contained hereinpossession or use of or construction upon the demised premises, and until Landlord represents to has substantially completed Landlord's Work. Tenant that on shall supply Landlord with Tenant's prototypical plans and specifications, and Landlord shall prepare plans and specifications for the Commencement Date and as part of the Base Building Work Premises at Landlord’s cost (and not part of 's expense, for Tenant's approval. All such Landlord’s Cap) (i) the Demised Premises and Building Structure will 's Work shall be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, done at Landlord's expense and in compliance with Lawall applicable federal, (ii) state and local laws, rules, regulations and code requirements. Landlord shall obtain a certificate of occupancy or completion, permit or 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the local equivalent that is required for Landlord’s Work at the demised premises as part of Landlord's Work.
(c) Prior to the date on which possession is Substantially Completed even though delivered to Tenant as aforesaid, Tenant shall have the Base Building Work right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and receiving merchandise and other property, provided that it does not unreasonably interfere with Landlord's construction activities. All work other than that to be performed by Landlord is not Substantially Completed 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 long as set forth in the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building 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 working diligently filed against the demised premises or the Shopping Center on account of Tenant's Work, Tenant shall discharge or bond off same within ten (10) days from the filing thereof. If Tenant fails to Substantially Complete discharge said lien, Landlord may bond off or pay same without inquiring into the Base Building Workvalidity or merits of such lien, and all sums so advanced shall be paid on demand by Tenant as additional rent.
(d) From the date upon which the demised premises are delivered to Tenant for its work until the commencement date of the lease term, Tenant shall observe and perform all of its obligations under this Lease (except Tenant's obligation to operate and pay minimum rent, percentage rent and "Tenant's Proportionate Share" (defined in Section 16(c) below) of "Maintenance Costs" (defined and provided for in Section 16(b) hereof) "real estate taxes" (defined and provided for in Section 28(b) hereof) and insurance (provided for in Section 28 hereof). Subject 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 Force Majeureand all other available remedies, manufacturer delivery delaysmay require Tenant to pay to Landlord, Tenant Delay or township delays in approving plansaddition to all other rent and charges herein, issuing permitsas liquidated damages and not as a penalty, inspecting work, etcan amount equal to one-three hundred sixty five thousandths (1/365) of the annual minimum rent for each day such failure to open continues.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease (DSW Inc.)
Commencement Date. The “Commencement Date of this Lease Date” shall be the later of (a) December 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, Landlord will still be performing work within the Leased Premises during normal business hours to achieve Substantial Completion, and (b) the date upon which occurs the Substantial Completion that such work shall not constitute a constructive eviction or otherwise be in violation of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawLease. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date Landlord shall be the date cause the Landlord’s Work and the Tenant Improvements to be Substantially Complete on or prior to June 15, 2021 (such date, which shall be extended for Tenant Delays to the extent Tenant’s actions causing such Tenant Delays occur after the Effective Date, the “Estimated Final Turnover Date”). In the event that Landlord fails to cause Substantial Completion of the Landlord’s Work and the Tenant Improvements on or prior to the Estimated Final Turnover Date, then Tenant shall be entitled to an abatement of Base Building Representations would have been Rent equal to the daily Annual Base Rent previously paid for each day in the period beginning on the day following the Estimated Final Turnover Date and ending on the date that the Landlord’s Work and the Tenant Improvements are Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 which abatement shall be in good working orderaddition to any other abatement, and free rent periods or other rental concessions to which Tenant may be entitled under the Lease (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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”amended hereby). Notwithstanding the foregoing, Tenant shall have the right to enter the Leased Premises as of the Effective Date for the purposes of installing cabling, wiring, telephone equipment, fixtures, furniture, and equipment to facilitate Tenant’s move-in and start-up of business operations, so long as any such entry is coordinated with Landlord and Landlord’s contractors and such entry and installations do not unreasonably interfere with the work being performed by Landlord’s workmen or contractors in the Leased Premises. No such entry shall be deemed Tenant’s possession of the Leased Premises, or otherwise affect the occurrence of the Commencement Date Date. In any such event, the Tenant’s workmen and contractors shall occur once take reasonable steps to minimize interference with any work being simultaneously performed by the Landlord’s Work is Substantially Completed even though workmen or contractors in the Base Building Work is not Substantially Completed as long as Leased Premises. In the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently event of any unreasonable interference prior to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,Substantial Completion, Landlord shall use commercially reasonable efforts have the right to Substantially Complete provide written notice to Tenant of such interference, and Tenant shall cause its workmen and contractors to cease such interference or cease performing such work until Landlord’s workmen and contractors have completed their work. Any such early entry into and occupancy of the above modifications Leased Premises by Tenant or any person or entity working for or on behalf of Tenant shall be deemed to be subject to all of the Building’s HVAC system on or prior terms, covenants, conditions and provisions of the Lease, including, without limitation, providing certificate(s) of insurance required under this Lease, excluding only the covenant to December 1, 2021pay Rent (defined herein).
Appears in 1 contract
Commencement Date. The "Commencement Date of this Lease shall Date" will be the later earlier to occur of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised date Tenant takes occupancy of the Phase 1 Premises and Building Structure will be structurally sound and free from leaksfor the purposes of conducting its business, 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, five (iii5) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, days after Landlord has Substantially Completed (ivas hereinafter defined) the Common Areas will be in Tenant Finish Work for the Phase 1 Premises. Landlord shall use all reasonable and good working order, and (v) faith efforts to have 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”) , Tenant Finish Work with the following modifications respect to the Building’s HVAC system: the boiler providing heat 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 Building will Phase 1 Premises is not Substantially Completed on or before September 1, 2008, Tenant shall be replaced; the 30 ton RTU providing cooling entitled to a one day abatement of Basic Rent with respect to the atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Phase 1 Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building for each day thereafter that Tenant Finish 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 up to Substantially Complete the Base Building WorkOctober 31, 2008. Subject to any Force Majeure, manufacturer delivery delays, a Tenant Delay or township delays an Excusable Delay, if Tenant Finish Work with respect to the Phase 1 Premises is not Substantially Completed on or before November 1, 2008, then in approving plansaddition to the abatement in Basic Rent provided in the immediately preceding sentence, issuing permitsTenant shall be entitled to a two (2) day abatement of Basic Rent with respect to the Phase 1 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to December 31, inspecting work2008. Subject to a Tenant Delay or an Excusable Delay, etc.,if Tenant's Finish Work with respect to the Phase 1 Premises is not Substantially Completed on or before January 1, 2009, 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 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 commercially all reasonable and good faith efforts to Substantially Complete have the above modifications Tenant Finish Work with respect to the Building’s HVAC system Phase 2 Premises Substantially Completed on or prior before September 1, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 2 Premises is not Substantially Completed on or before September 1, 2009, Tenant shall be entitled to a one day abatement of Basic Rent with respect to the Phase 2 Premises for each day thereafter that Tenant Finish Work is not Substantially Completed up to October 31, 2009. Subject to a Tenant Delay or an Excusable Delay, if Tenant Finish Work with respect to the Phase 2 Premises is not Substantially Completed on or before November 1, 2009, then in addition to the abatement in Basic Rent provided in the immediately preceding sentence, Tenant shall be entitled to a two (2) day abatement of Basic Rent with respect to the 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, 20212010, 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
Sources: Lease Agreement (Medicines Co /De)
Commencement Date. The Commencement Date of this the Lease shall be the later earlier of the date on which: (i) Tenant takes possession of any portion of the Premises in order to conduct business thereon; (ii) the Premises would have been Ready for Occupancy but for Tenant Delays (as defined in the Improvement Agreement attached hereto as Exhibit B); or (iii) the Premises are Ready for Occupancy, but, in the case of (aii) December 1, 2021, and (b) iii), in no event before the Estimated Commencement Date. The Premises shall be deemed “Ready” or “Occupancy” on the date upon which occurs the Substantial Completion of the Base Building Work substantial completion (subject to the penultimate sentence as defined herein) of this paragraph below) and all Landlord’s Work to be constructed by Landlord in accordance with Lawthe 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. If Tenant shall, within ten (10) days after receipt of demand, execute and deliver to Landlord a Commencement Date Memorandum in the Substantial Completion 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 Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date following have occurred: (i) Landlord has substantially completed the Landlord’s Work (other than the Cafeteria and Base Building Representations would have been Substantially Completed, as reasonably estimated 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 Landlord, without the Tenant DelaysTenant. Notwithstanding anything to the contrary contained hereinin this Lease, Landlord represents 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 on either the Commencement Date and Cafeteria or the Fitness Center are not Ready for Occupancy, Tenant shall receive as part of the a credit against Base Building Work at Landlord’s cost Rent (and not part of Landlord’s Capas defined in Section 3.1 below) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 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 liquidated damages in the Demised Premises found not to be functioning will be repaired or replaced; two amount of the three cooling towers will be retrofitted with new water treatment systems Five Hundred Dollars (two have been retrofitted already$500.00) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcper day.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease Agreement (Palmsource Inc)
Commencement Date. The term of this Lease (“Term”) shall be sixty (60) months commencing on the Commencement Date (as defined below), unless sooner terminated and subject to any extensions granted hereunder. The “Commencement Date” of this Lease shall be the later earlier of (ai) December 1, 2021substantial completion of the Tenant Improvements (as defined below) and the Additional Work (as defined below), and (bii) the date upon which occurs the Substantial Completion that Tenant commences occupancy and use of the Base Building Work Premises for the purpose of conducting Tenant’s business operations therein (subject 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 penultimate sentence commencement of such occupancy and use). For purposes of this paragraph belowLease, the date of “substantial completion” of the Tenant Improvements and Additional Work shall be the date that all of the following has occurred: (i) the Tenant Improvements and LandlordAdditional Work are complete except for minor items of adjustment or repair of the type commonly found on an architect’s punchlist which would not materially interfere with Tenant’s use and enjoyment of the Premises for their intended purpose; (ii) the City of Sunnyvale has approved the Tenant Improvements and Additional Work in accordance with Lawits building code, evidenced by its completion of a final inspection and written approval of such improvements as so completed in accordance with the building permit(s) issued for the Tenant Improvements and/or Additional Work. If the Substantial Completion Commencement Date is other than the first day of a calendar month and/or if the Base Building Representations and Landlord’s Work expiration date of this Lease is delayed by Tenant Delaysother than the last day of a calendar month, then Rent (as defined below) shall be prorated for the month in which the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completedor expiration date, as reasonably estimated by Landlordapplicable, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that occurs on the Commencement Date and as part basis of the Base Building Work at Landlord’s cost (and not part number of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 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 days that Tenant had possession of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcPremises during such calendar month.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The Commencement Date term of this Lease (“Lease Term”) shall be for the later of (a) December 1period specified in Paragraph 1.5 above, 2021, and (b) commencing on the date upon which occurs the Substantial Completion of the Base Building Work set forth in Paragraph 1.6 (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“Commencement Date”); provided, then however, the Commencement Date shall be delayed until such time as the date Interior Work is Substantially Completed (as defined below) and at least three (3) weeks have elapsed in the Landlord’s Early Access Period (as defined below).
(a) The Interior Work and Base Building Representations would have been shall be deemed to be “Substantially Completed, as reasonably estimated by Landlord, without ” upon the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part occurrence of the Base Building Work at Landlord’s cost (and not part earliest of Landlord’s Cap) 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 Demised Premises and Building Structure will be structurally sound and free from leaksfor its intended use, and the Demised appropriate governmental approvals for occupancy of the Premises will be demised, broom clean, and in compliance with Law, have been issued; or
(ii) the Demised 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 will be free from asbestos 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 other Hazardous Materials (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 violation of existing Law, performing work relating to the Exterior Work; or
(iii) there will 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 Paragraph 1.7, the rental adjustment dates set forth in Paragraph 1.8 and any other certain dates specified herein shall be adjusted accordingly. When the Commencement Date, Ending Date, rental adjustment dates, and such other dates become ascertainable, Landlord and Tenant shall specify the same in writing, in the form of the attached Exhibit C, which writing shall be 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 legitimate disagreement by Tenant with the terms thereof, which both parties shall use reasonable efforts to resolve) shall be a valid temporary Default by Tenant hereunder. The expiration of the Lease Term or permanent Certificate sooner termination 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 this Lease is referred to herein as the “Base Building RepresentationsLease Termination.”) , 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.
Appears in 1 contract
Commencement Date. The Commencement Date Term of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that commence on the Commencement Date and and, unless sooner terminated or extended as part hereinafter provided, shall end on the Expiration Date. If Landlord does not tender possession of the Base Building Work at Landlord’s cost 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, as applicable, to Tenant. Landlord shall be deemed to have tendered possession of the Additional Second Floor Space or the Additional Third Floor Space, as applicable, to Tenant upon the giving of notice by Landlord to Tenant stating that such space is vacant, in the condition required by this Lease and available for Tenant's occupancy. No failure to tender possession of the Additional Second Floor Space or the Additional Third Floor Space to Tenant on or before any specified date shall affect any other obligations of Tenant hereunder. There shall be no postponement of the Additional Second Floor Space or the Additional Third Floor Space (and not part of Landlord’s Capor the corresponding Rent Commencement Date with respect to the Additional Second Floor Space or the Additional Third Floor Space, as applicable) for (i) any delay in the Demised Premises and Building Structure will be structurally sound and free tender of possession to Tenant which results from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, any Tenant Delay or (ii) any delays by Landlord in the Demised 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 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 more than 30 days after notice by Tenant to Landlord of such failure, or if such failure is of a nature that it cannot be free 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 paid by Landlord to Tenant within 30 days after Landlord receives an invoice therefor from asbestos Tenant, which shall be accompanied by true and complete copies of invoices and other Hazardous Materials in violation of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting reasonable support for the Permitted Use, (iv) the Common Areas will be in good working order, costs 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcexpenses invoiced.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease Agreement (Philadelphia Consolidated Holding Corp)
Commencement Date. (Section 3.1): The Commencement Date of this Lease shall be the later of earlier to occur of: (a) December 1, 2021, and (bi) the date upon which occurs the Substantial Completion (as herein defined) of the Base Building Improvements (as defined in the Tenant Work Letter attached hereto as Exhibit B (subject 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 penultimate sentence Premises for the permitted use set forth in Section 1.17 of this paragraph below) and Landlord’s Work in accordance with LawLease. If For purposes of determining the Commencement Date, "Substantial Completion Completion" of the Base Building Representations Improvements in the Premises shall occur upon completion of the following: (i) a final certificate of occupancy (or its equivalent) has been obtained from the City of Farmers Branch, Texas, and Landlord’s Work is delayed by Tenant Delays, then (ii) substantial completion of construction of the Commencement Date shall be Improvements in the date Premises in substantial conformance with the Landlord’s Work and Base Building Representations would have been Substantially Completed, Approved Working Drawings (as reasonably estimated by Landlord, without defined in Section 3.4 of the Tenant DelaysWork Letter) has occurred. Notwithstanding the foregoing or anything to the contrary contained hereinin this Lease, Landlord represents and Tenant hereby acknowledge and agree that Tenant will at Tenant's sole election construct the Improvements in the Premises pursuant to a phased construction schedule and in connection with such phased construction, Tenant that on shall have the right to commence business from portions of the Premises (the "Early Occupancy Space") during the period (the "Early Occupancy Period") from date of substantial completion of the Improvements (if any) relating to such Early Occupancy Space until the Commencement Date and as part Date, provided that (a) a temporary certificate of occupancy (or its equivalent or other governmental action (e.g,. a final sign-off by the Building Inspector for the portion of the Base Building Work at Landlord’s cost Improvements) shall have been issued by the appropriate governmental authorities for the Early Occupancy Space (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaksor portion thereof), and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) all of the Demised Premises will 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 Exhibit C to this Lease, during the Early Occupancy Period (if any), except that Tenant's obligation to pay monthly Base Rent shall be free proportionately reduced to equal an amount equal to the monthly installment of annual rate per rentable square foot (i.e., $1.83) times the rentable area (based upon the BOMA Standard) within the Early Occupancy Space (as the same may exist from asbestos time to time during the Early Occupancy Period) as mutually 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 reasonably agreed upon in good working order, faith by Landlord 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcTenant.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Office Lease (Copart Inc)
Commencement Date. (a) The “Commencement Date Date” of this Lease shall be established as of the later to occur of (a) December 1the date that is ninety (90) days following the date of Substantial Completion of all of the Improvements, 2021, including the Building and Tenant Improvements; or (b) January 1, 2011. Upon the determination of the date upon which occurs the of Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the LandlordDate, at either party’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained hereinrequest, Landlord represents to and Tenant that on shall sign an agreement setting forth the Commencement Date and as part the expiration date of the Base Building Work at Initial Term; provided, however, that the failure of the parties to do so shall not affect the determination of such dates, nor Landlord’s cost or Tenant’s respective rights and obligations hereunder from and after the Commencement Date.
(b) Landlord shall construct and not part of Landlord’s Cap) (i) complete all the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) aboveImprovements, including the above modifications to Building and all the Building’s HVAC systemTenant Improvements, collectively, in accordance with the “Base Building Work”). Notwithstanding Improvements Plans and Specifications and the foregoing, Tenant Improvements Plans and Specifications and the Commencement Date shall occur once terms and provisions of the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcLetter.,,
(c) Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications Improvements, including the Building and the Tenant Improvements, as follows: the Building, certain of the parking areas (subject to the Building’s HVAC system terms and provisions of Section 43 below) and all Tenant Improvements on the First Floor of the Building shall be Substantially Completed on or before October 1, 2010; all Tenant Improvements on the Second Floor of the Building, together with certain of the parking areas (subject to the terms and provisions of Section 43 below) shall be Substantially Completed on or before October 15, 2010; and all Tenant Improvements on the Third Floor of the Building, together with certain of the parking areas (subject to the terms and provisions of Section 43 below) shall be Substantially Completed on or before November 1, 2010. If Landlord is unable to Substantially Complete all of the Building and other Improvements, including all Tenant Improvement Work on the respective floors in accordance with the above Schedule (each a “Target Completion Date”), and such delay is not due to any 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 such failure by Landlord, to: (x) terminate this Lease, whereupon neither party shall have any further liability under this Lease except that Landlord shall be liable to Tenant for the value of all free rent accrued to the date of termination of this Lease and Tenant shall have the right, at its option, to acquire the Premises (the “Liquidated Damages Purchase Option”) pursuant to the terms 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, other Improvements and/or the Tenant Improvement(s), as applicable, on behalf of Landlord. In the event that Tenant elects to perform any such incomplete work pursuant to subsection (y) of this Section 3.2(b), Tenant shall, as of the Commencement Date, be entitled to a credit against Rent in the amount of (A) all reasonable costs and expenses incurred by Tenant as a result of said work and (B) Tenant shall be entitled to free Rent for each day after each applicable Target Completion Date until Substantial Completion of each applicable portion of the Building, Improvements and/or Tenant Improvements; provided that the parties shall, prior to December 1Tenant’s commencement of any such work, 2021attempt to agree in writing upon a budget for any and all costs and expenses associated with any such incomplete Base Building Work and Tenant Improvement Work, but failure of the parties to so agree shall not delay or prevent Tenant from exercising its remedies hereunder and Landlord shall reserve its rights to contest the reasonableness of any claim of Tenant for costs incurred by Tenant to complete the Improvements and the Tenant Improvements.
Appears in 1 contract
Sources: Lease Agreement (Griffin Capital Net Lease REIT, Inc.)
Commencement Date. The Commencement Date term of this Lease shall be commence on the date which is the later of of:
(a) December July 1, 20212019, and or
(b) subject to Tenant Delay (as hereinafter defined), the date upon on which occurs the Substantial Completion Tenant Improvements are Substantially Complete (as hereinafter defined). The Tenant Improvements shall be deemed to be "Substantially Complete" on the earliest of the Base Building Work date on which: (subject 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 the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Lawbe Substantially Complete despite minor “punch list” items which shall be completed by Landlord within a reasonable time. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by a Tenant DelaysDelay occurs, then the Commencement Date shall be and mean the later of July 1, 2019 or the date upon which the Landlord’s Work and Base Building Representations Tenant Improvements would have been Substantially CompletedComplete 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 reasonably estimated by Landlordmay be required or scheduled hereunder or otherwise necessary in connection with the preparation or completion of any construction documents, without such as the Plans and Specification, Working Drawings or Final Working Drawings, or in connection with the performance of the Tenant DelaysImprovements, (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. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on 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 as part (c) Tenant's acceptance of the Base Building Work at Landlord’s cost (and Expansion Premises. Tenant's failure to execute the Commencement Date Memorandum shall not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and affect Tenant's liability hereunder.
1.1.3 Reference 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 this Lease to 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”) , "Lease Year" shall mean each successive twelve month period commencing 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as Commencement Date.
1.1.4 Landlord and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, Tenant estimate that the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work be July 1, 2019, but such estimate is not Substantially Completed 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 long as may be designated by Landlord in light of construction work by Landlord in the Base Building Representations are true on Expansion Premises for a period of approximately two (2) weeks prior to the date which Landlord anticipates being the Commencement Date and Landlord has commenced for the Base Building Work and is working diligently sole purpose of permitting Tenant to Substantially Complete ready the Base Building WorkExpansion Premises for Tenant’s occupancy, so that Tenant’s access does not interfere with the performance of Landlord’s work in the Expansion Premises. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications Tenant's access to the Building’s HVAC system on or Expansion Premises during the period of time prior to December 1the 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), 2021other 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. Tenant shall not interfere with Landlord’s performance of Landlord’s work in the Expansion Premises.
Appears in 1 contract
Sources: Office Lease (Rimini Street, Inc.)
Commencement Date. 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 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 Leased Premises to Tenant, 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 condition of the Leased Premises upon delivery to Tenant). The Actual 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 belowfollowing conditions all being satisfied.
(1) Landlord shall have performed and Landlord’s Work in accordance with Law. If made the Substantial Completion of Leased Premises available to Tenant or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed the Base Building Representations work pursuant to the work and Landlord’s Work is delayed drawings to be approved by Tenant Delays, then the Commencement Date shall be the date the pursuant to Exhibit C - Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost 's Initial Fit-Out Work; (and not part of Landlord’s Cap3) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 A Certificate of Occupancy permitting the Permitted Use, occupancy by Tenant of the Leased Premises for its permitted use has been issued by the applicable governmental authority; (iv4) Landlord has provided that all building systems serving the Common Areas will be Leased Premises are in good working order, operating condition and (v5) Landlord shall obtain and deliver to Tenant an executed Agreement in recordable form executed by the Building Systems serving existing Mortgagee granting the Demised Premises will be subordination and non-disturbance agreement in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications form and content reasonably similar 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)attached. Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable reasonably diligent efforts and proceed with due diligence to Substantially Complete complete the above modifications construction of the Building and Leased Premises and obtain a Certificate of Occupancy for the Building and for the Leased Premises by the Initial Commencement Date of around December 20, 2002. In the event that Landlord has not completed the Landlord's Initial Fit-Out Work by January 31, 2003, Tenant, at its sole option, shall have the right to terminate the Building’s HVAC system on or prior Lease and be released from any further obligations by notifying Landlord within 15 days thereafter. This termination right is subject to December 1Exhibit C, 2021specifically regarding Tenant's obligation to deliver Landlord approved Initial Fit-Out Plans.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease "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 later of date (the "Commencement Date") that is the earlier to occur of: (i) one hundred-eighty (180) days from: (a) December 1, 2021, and the Delivery Date (bas such term is defined hereinbelow); or (B) the date upon which occurs the Substantial Completion of the Base Building Work (subject Tenant opens for business to the penultimate sentence public. As used herein, the term: (1) "Lease Term" shall include the Initial Term and any exercised Option pursuant to the terms of this paragraph belowSection 2.B hereof; (2) and Landlord’s Work in accordance with Law. If "Lease Year" shall mean each successive twelve (12) month period occurring during the Substantial Completion Lease Term or any extension or renewal thereof, provided if the Commencement Date is not the first day of the Base Building Representations and Landlord’s Work is delayed by Tenant Delaysa 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 be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that begin on the Commencement Date and as part end on the last day of the Base Building Work at Landlord’s cost twelfth (12th) full calendar month thereafter; and not part (3) the "Delivery Date" shall be the date of Landlord’s Cap) the later to occur of: (i) the Demised Premises full execution of the Lease by both parties (and Building Structure will be structurally sound and free from leaks, and ▇▇▇▇▇▇'s receipt of a copy of the Demised Premises will be demised, broom clean, and in compliance with Law, same); (ii) Tenant's receipt of all keys required for ▇▇▇▇▇▇'s possession of the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, Premises; or (iii) there will be a valid temporary or permanent Certificate Landlord's substantial completion of Occupancy permitting Landlord's Work (as such term is defined in Section 4 hereof). Within thirty (30) days after the Permitted UseCommencement Date, (iv) the Common Areas will be in good working orderLandlord shall provide to Tenant, 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”) Tenant and Landlord shall execute, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the a Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on Agreement setting the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete expiration date of the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Initial Term in the form attached hereto as Exhibit D. If Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete occupies the above modifications Premises prior to the Building’s HVAC system on or prior Commencement Date, such early occupancy shall be subject to December 1, 2021all of the terms and conditions of this Lease.
Appears in 1 contract
Sources: Lease Agreement
Commencement Date. This Lease, and the obligation to pay Minimum Annual Rent and additional Rent hereunder (subject to any rent-free period as provided under Section 4(c) above), shall commence on the date (the “Commencement Date”) that is the earlier to occur of:
(i) The Commencement Date Monday following Tenant’s occupancy of this substantially all of the Premises for the purpose of conducting Tenant’s business in and from the Premises (Tenant plans to move into and occupy the Building in phases over several weeks and the fact that Tenant occupies and opens for business in a part, but less than substantially all, of the Premises shall not in itself trigger Lease shall be 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 (a1) December 1120 days after the Tenant Access Date, 2021, and or (b2) 60 days after the date upon which occurs the Substantial Completion substantial completion of the Base Building Work 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 penultimate sentence provisions of this paragraph belowSection 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 Work in accordance with Law. If general contractor for the Substantial Completion construction of the Initial Tenant Improvements, the later of (i) the first Monday following the date that is 60 days after the date of substantial completion of the Initial Tenant Improvements (exclusive of the installation of the Tenant’s equipment, furniture and personal property; this work is contemplated to occur during the 60-day period following the substantial completion of the Initial Tenant Improvements), or (ii) the date of substantial completion by Landlord of the Base Building Representations 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 Work general contractor for the construction of the Initial Tenant Improvements, Tenant shall contract with Landlord’s general contractor, and provide Landlord’s general contractor with construction plans and specifications, material selections and other appropriate information sufficiently in advance of the Tenant Access Date so that such general contractor can commence construction of the Initial Tenant Improvements as of the Tenant Access Date and proceed with construction without delay resulting from failure of Tenant to timely approve plans or select materials. Tenant’s construction contract shall obligate such general contractor to substantially complete the Initial Tenant Improvements within 60 days of the Tenant Access Date. If construction of the Initial Tenant Improvements is delayed as a result of any such delay caused by Tenant DelaysTenant, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations this Lease would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delayscommenced but for such delay. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part The 60-day period for completion of the Base 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, and the Demised Premises will be demised, broom clean, and Initial Tenant Improvements contemplated in compliance with Law, subsections (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation of existing Law, (iii) there will above shall be a valid temporary or permanent Certificate extended for delay resulting from Force Majeure events, applying to Tenant the same definition 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 “Force Majeure” applicable 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (vLandlord under Section 4(c) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.
Appears in 1 contract
Sources: Lease Agreement (Kroll Inc)
Commencement Date. 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 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 Leased Premises to Tenant, 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 condition of the Leased Premises upon delivery to Tenant). The Actual 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 belowfollowing conditions all being satisfied.
(1) Landlord shall have performed and Landlord’s Work in accordance with Law. If made the Substantial Completion of Leased Premises available to Tenant or its occupancy for Tenant's exclusive use and possession; (2) Landlord has substantially completed the Base Building Representations work pursuant to the work and Landlord’s Work is delayed drawings to be approved by Tenant Delays, then the Commencement Date shall be the date the pursuant to Exhibit C - Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost 's Initial Fit-Out Work; (and not part of Landlord’s Cap3) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 A Certificate of Occupancy permitting the Permitted Use, occupancy by Tenant of the Leased Premises for its permitted use has been issued by the applicable governmental authority; (iv4) Landlord has provided that all building systems serving the Common Areas will be Leased Premises are in good working order, operating condition and (v5) Landlord shall obtain and deliver to Tenant an executed Agreement in recordable form executed by the Building Systems serving existing Mortgagee granting the Demised Premises will be subordination and non-disturbance agreement in good working order (items (i) – (v) above being hereinafter referred to as the “Base Building Representations”) , with the following modifications form and content reasonably similar 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)attached. Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable reasonably diligent efforts and proceed with due diligence to Substantially Complete complete the above modifications construction of the Building and Leased Premises and obtain a Certificate of Occupancy for the Building and for the Leased Premises by the Initial Commencement Date of around April 15, 1999. In the event that Landlord has not completed the Building and the Leased Premises by June 15, 1999, then Tenant, at its sole option, shall have the right to the Building’s HVAC system on or prior to December 1, 2021terminate this Lease and be released from any further obligation by so notifying Landlord within fifteen (15) days thereafter.
Appears in 1 contract
Commencement Date. (a) The Commencement Date of this Lease shall be is the later of 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) December 1this Lease shall not be void or voidable by either party, 2021(b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and (bc) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be revised to mean the date Substantial Completion Date. If and only if the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything Commencement Date is adjusted pursuant to the contrary contained hereinforegoing, then Landlord represents shall prepare and deliver to Tenant a Commencement Date Confirmation substantially in the form attached hereto as Exhibit D that on sets forth both the Commencement Date and as part Termination Date for this Lease. Tenant shall execute the Commencement Date Confirmation and deliver the executed original of the Base Building Work at Landlordsame to Landlord within three (3) days after Tenant’s cost (receipt thereof. Tenant’s failure to timely execute and not part return the Commencement Date Confirmation document to Landlord shall be conclusive evidence of LandlordTenant’s Cap) (i) agreement with the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 information as set forth therein. This Lease shall be a valid temporary or permanent Certificate of Occupancy permitting binding contractual obligation effective upon execution and delivery hereof by Landlord and Tenant, notwithstanding 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 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 later commencement of the three cooling towers will be retrofitted with new water treatment systems Lease Term.
(two have been retrofitted alreadyb) (items (i) – (vNotwithstanding the provisions of Section 1.1(a) above, including if the above modifications Premises Delivery Date does not occur on or before July 31, 2005 (the “Premises Delivery Deadline”), Tenant, as its sole remedy, shall have the right to cancel this Lease by giving written notice of such cancellation to Landlord at any time after the Premises Delivery Deadline and prior to the Building’s HVAC systemPremises Delivery Date, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date in which case this Lease shall occur once the be cancelled effective five (5) business days after Landlord’s Work receipt of Tenant’s cancellation notice, unless the Premises Delivery Date occurs within said five (5) business day period; provided, however, that the Premises Delivery Deadline shall be extended by the number of days that the Premises Delivery Date is 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 delayed due to any Force Majeure, manufacturer delivery delays, Majeure Delay (as defined below) or any delay in receiving any required permits to construct the Tenant Improvements or any Tenant Delay (as defined in Section 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 township delays in approving plansearlier termination of this Lease, issuing permits, inspecting work, etc.,, and Landlord shall use commercially reasonable efforts promptly return to Substantially Complete Tenant the above modifications Lease Deposit. For purposes of this Lease, the term “Force Majeure Delay” means any delay attributable to the Building’s HVAC system on or prior to December 1, 2021Force Majeure (as defined in Section 12.3 below).
Appears in 1 contract
Sources: Lease (Nextg Networks Inc)
Commencement Date. (a) The Commencement Date term of this Lease shall be the later period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the earlier of (a) December 1, 2021, and the opening for business or (b) six (6) months after the date upon 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 occurs event Tenant shall commence paying rent at the Substantial Completion 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 Base Building six (6) month period, not due to Tenant's fault, the Rent Commencement Date, shall be extended until Landlord's Work (is substantially complete. If Tenant's building is not complete by the Rent Commencement Date, Tenant shall commence paying rent and all other charges subject to the penultimate sentence provisions of this paragraph belowSection 3.1 (a) and Landlord’s Work 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 provided in accordance with Law. If Section 3.3(a) below,
(b) Upon the Substantial Completion 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 Base Building Representations and Landlord’s Work is delayed Lease (in addition to the obligations required to be performed by the Tenant Delays, then prior to the Rent Commencement Date). (c) As soon as may be convenient after the Rent Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have has been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained hereindetermined, Landlord represents and Tenant agree to Tenant that join with each other in the execution of a Commencement Certificate, in the form set forth on the Exhibit "C". The Rent Commencement Date and as part specified term of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will this Lease shall be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and stated 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the said Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcCertificate.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease Landlord and Tenant shall be use their best efforts to complete the later of (a) December 1, 2021, Building 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 Initial Tenant Improvements in accordance with LawExhibit D hereto on the Target Commencement Date or as soon thereafter as practicable. The determination of the Commencement Date with respect to the Initial Premises shall depend on which contractor is selected to construct the Initial Tenant Improvements. If Tenant selects the contractor engaged by Landlord to construct the shell and core of the Building (the "Shell and Core Contractor"), Landlord shall use its commercially reasonable best efforts to cause the Commencement Date to occur by May 21, 1999. If the Substantial Completion Shell and Core Contractor's bid is the lowest received by Tenant for the construction of the Base Building Representations Tenant Improvements, or is within two percent (2%) of the lowest bid received, and Landlord’s Work is delayed by Tenant Delayschooses a contractor other than the Shell and Core Contractor, then the Commencement Date shall be deemed to occur on the date the Landlord’s Work and Base Building Representations that it otherwise would have occurred had the Shell and Core Contractor been Substantially Completed, chosen to construct the Initial Tenant Improvements (as reasonably estimated by Landlorddetermined based on the Shell and Core Contractor's proposed schedule included in its tenant work bid.) If the Shell and Core Contractor is not the lowest bidder or within two percent (2%) of the low bidder, without the and Tenant Delays. Notwithstanding anything to the contrary contained hereinchooses such low bidder, Landlord represents to Tenant that on the Commencement Date and as part shall be deemed to occur on the earlier of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises date five (5) weeks after that date that it otherwise would have occurred had the Shell and Building Structure will be structurally sound Core Contractor been chosen to construct the Initial Tenant Improvements (as reasonably determined based on the Shell and free from leaksCore Contractor's proposed schedule included in its tenant work bid), and the Demised Premises will be demised, broom clean, and in compliance with Law, or (ii) the Demised Premises will date the Commencement Date would otherwise occur pursuant to the following paragraph. 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 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”) , "Tenant Improvements Contractor." The Commencement Date with the following modifications respect to the Building’s HVAC system: Initial Premises shall be deemed to occur on (A) the boiler providing heat later of (I) the completion date specified in the notice ("30 Day Notice") delivered to Tenant at least thirty (30) days prior to the Building will be replaced; date that the 30 ton RTU providing cooling to the atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Initial Premises will be upgraded from MERV-8 completed for occupancy or (II) the date the entirety of the Initial Premises is in fact delivered to MERV-13 Tenant with all of Landlord's Work and the Initial Tenant Improvements substantially completed, or (B) such earlier date as and where reasonably ableLandlord would have been able to so deliver the entire Premises to Tenant but for Tenant Delay (defined below). Subject to Tenant Delay or other causes beyond Landlord's control, and any heat pumps Landlord shall use its best efforts to deliver the Premises to Tenant no later than the completion date specified in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)30 Day Notice. Notwithstanding the foregoing, the Commencement Date shall occur once be deemed to have occurred with respect to the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true Initial Premises on the date Tenant first occupies the Initial Premises for normal business operations, if such date is earlier than the dates described above. The Commencement Date shall not be deemed to occur until the following conditions shall have been satisfied by Landlord:
(1) The utility and other systems servicing the Building and necessary for the operation of the Building or Tenant's occupancy and full enjoyment of the Initial Premises (such as elevators, plumbing, heating, ventilating, air conditioning, electrical and security systems) shall be completed and in good order and operating condition except for (A) details of construction, decoration and mechanical adjustments which do not materially interfere with Tenant's use of the Initial Premises, and (B) any part thereof the non-completion of which shall be due to Tenant Delay;
(2) Landlord has commenced (A) shall have obtained a temporary Certificate of Occupancy for the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force MajeureInitial Premises, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications (B) would have been entitled to the issuance of a temporary Certificate of Occupancy for the Initial Premises, but for Tenant Delay;
(3) The lobby of the Building and the entrances and public portions (including the garage), stairways, corridors and elevators (including freight elevators) of the Building’s HVAC system on , shall have been finished (except for details of construction, decoration and mechanical adjustments which do not materially detract from the appearance of such areas or prior materially interfere with their use for normal purposes) and shall be in a clean and orderly condition affording reasonable access to December 1all portions of the Initial Premises, 2021or would be in such condition but for Tenant Delay; and
(4) The exterior of the Building (including the installation of glass therein) shall have been completed except for (A) minor portions thereof which in the aggregate do not materially affect Tenant's use of the Premises, and (B) any part thereof the non-completion of which shall be due to Tenant Delay.
Appears in 1 contract
Commencement Date. The Landlord represents to Tenant, and Tenant acknowledges, that (i) Landlord's existing lease with Altera Corporation ("Altera") for the Premises expires on July 4, 1997, (ii) that Altera has a "hold-over" right to remain in the Premises for up to three (3) months after the July 4, 1997 date, and (iii) Altera must exercise its "hold-over" right and state the length of the hold-over period no later than February 1, 1997. Therefore, the Commencement Date of August 3, 1997 of this Lease shall be 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 (a) December 1, 2021, and (b) the Premises to Landlord on or before the date upon which occurs the Substantial Completion of the Base Building Work (subject Altera is required 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 surrender, whether such date is delayed July 4, 1997, or an extended date set by Tenant Delaysa hold-over notice, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completeddelayed one day for every day beyond such required surrender date, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part during which Altera continues in possession of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)Premises. Notwithstanding the foregoing, Although the Commencement Date shall occur once not be affected by the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,date of Substantial Completion of Interior Improvements under Exhibit "B" hereto, Landlord shall use commercially reasonable efforts agrees that it will keep Tenant advised on negotiations for the construction contract with the Prime Contractor, that it will provide in such contract for penalties for delay in completion of construction by the Prime Contractor, and that Tenant will have the right to Substantially Complete approve the above modifications Prime Construction Contract, approval not be unreasonably withheld or delayed, solely with regard to the Building’s HVAC system on or prior timeline schedule for construction, the penalties which are to December 1be charged to the Prime Contractor in the event of delay, 2021and construction warranties.
Appears in 1 contract
Sources: Lease (Quickturn Design Systems Inc)
Commencement Date. The Commencement Date of If this Lease is not terminated pursuant to Section 2.1 above or Section 2.4 below, the “Commencement Date” shall be occur on the later of earlier of: (a) December 1, 2021, and (bi) the date upon which occurs the of Substantial Completion of the Base Building Work Tenant Improvements (as such terms are defined in Exhibit B attached hereto), or (ii) the date which is three (3) months following the Delivery Date as determined as provided in Section 2.3 below, subject to the penultimate sentence of this paragraph any Landlord Delay, Force Majeure Delay not to exceed ninety (90) days and Tenant Plan Delay (not to exceed ninety (90) days (as such terms are defined in Exhibit B). Tenant shall use Landlord’s Contractor (as defined below) and for the Tenant Improvements, subject to (i) Tenant’s approval, which shall not be unreasonably withheld or delayed if the bids submitted are competitive, of the bids submitted by Landlord’s Work Contractor and its subcontractors, and (ii) Tenant’s right to audit Landlord’s Contractor’s books and records with respect to the Tenant Improvements as set forth in accordance with LawExhibit B attached hereto. If the Within ten (10) business days after written request by Landlord (which request shall not be made until Substantial Completion of the Base Building Representations Tenant Improvements has occurred in all the Buildings), Landlord and LandlordTenant shall execute a written amendment to this Lease, substantially in the form of Exhibit D hereto, wherein the parties shall specify the actual Commencement Date as calculated as set forth above (which such date shall be the “Commencement Date” for all purposes of this Lease), the Expiration Date and the date on which Tenant is to commence paying Rent. The word “Term” whenever used herein refers to the initial term of this Lease and any valid extension(s) or renewal(s) thereof. For avoidance of doubt, Tenant’s Work is delayed by occupancy of one or more Buildings for purposes of commencing business operations prior to Substantial Completion of the Tenant Delays, then Improvements in all of the Buildings shall not be deemed to modify the Commencement Date or the Expiration Date of this Lease, but Tenant’s obligation to pay Rent for such Building or Buildings shall be as set forth in the date Basic Lease Information and Tenant shall be subject to all the Landlord’s Work other terms and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything conditions of this Lease with respect to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date particular occupancy and as part of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcbusiness operations.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease Agreement (Linkedin Corp)
Commencement Date. The Commencement Date set forth in Article 1 shall be delayed and Base Rent shall be abated to the extent that Landlord fails to deliver possession of the Premises for any reason on the intended Commencement Date, including but not limited to holding over by prior occupants, except to the extent that Tenant, its contractors, agents or employees in any way contribute to such failure. If Landlord so fails for a sixty (60) day initial grace period, or such additional time as may be necessary due to fire or other casualty, strikes, lock-outs or other labor troubles, shortages of equipment or materials, governmental requirements, power shortages or outages, acts or omissions of Tenant or other Persons, or other causes beyond Landlord’s reasonable control, Tenant shall have the right to terminate this Lease by written notice to Landlord any time thereafter up until Landlord delivers the Premises to Tenant. Any such delay in the Commencement Date shall not subject Landlord to liability for loss or damage resulting therefrom, and Tenant’s sole recourse with respect thereto shall be the later abatement of (a) December 1Base Rent and right to terminate this Lease described above. Upon any such termination, 2021Landlord and Tenant shall be entirely relieved of their obligations hereunder, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject any Security Deposit and Rent payments shall be returned to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawTenant. If the Substantial Completion Commencement Date is delayed, the Expiration Date shall be similarly extended (in which case, the parties shall confirm the same in writing). Tenant may enter the Premises during the seven (7) day period prior to the intended Commencement Date (“Early Entry Period”) only for purposes of installing its furniture, fixtures and equipment (including telecommunications and computer equipment) and for purposes of moving into the Base Building Representations Premises, (but not for occupancy or the operation of Tenant’s business). During the Early Entry Period, Tenant shall comply with all terms and Landlord’s Work is delayed provisions of this Lease, except those provisions requiring the payment of Rent. If Tenant shall be permitted by Tenant DelaysLandlord in writing to enter the Premises prior to the intended Commencement Date for the purpose of occupying the same, then the Commencement Date shall be deemed to be such date of occupancy. Landlord shall permit early entry other than the date Early Occupancy Period in its sole and absolute discretion and only by giving Tenant prior written notice thereof. At any time during the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained hereinTerm, Landlord represents may deliver to Tenant that on a written notice setting forth the Commencement Date and as part other reasonable dates and information relating to this Lease (“Notice of the Base Building Work at Landlord’s cost Lease Dates”), which notice Tenant shall execute and return to Landlord within five (and not part 5) days of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaksreceipt thereof, and thereafter the Demised Premises will dates set forth on such notice shall be demised, broom clean, conclusive and binding; Tenant’s failure to timely execute and deliver the Notice of Lease Dates shall constitute an acknowledgment by Tenant that the statements included 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations such notice 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 Majeurecorrect, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcwithout exception.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Office Lease (NGTV)
Commencement Date. (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 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) December 1substantial completion of Landlord's Work, 2021, and (b) the date upon which occurs the Substantial Completion first day of the Base Building Work Delivery Period and (subject to c) the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawFinal Delivery Date. If the Substantial Completion Time is of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then essence regarding all dates set forth in this Section 3(a). Landlord shall obtain a certificate of occupancy for the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and demised premises as part of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building 's Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.
Appears in 1 contract
Sources: Lease (Retail Ventures Inc)
Commencement Date. The Term (defined below) and Tenant’s obligation to pay Rent shall commence on the date that is the day Tenant takes actual possession, which date will be 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 of this Lease Date. Landlord shall cause the Tenant Improvement Work to be completed pursuant to the later of work letter attached hereto as Exhibit C (a) December 1, 2021the “Work Letter”), and (b) shall use best efforts to cause the date upon which occurs 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 Base Building Tenant Improvement Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion within eight weeks of the Base Building Representations and Landlord’s completion of the Final Plans (as defined in the Work Letter). “Substantially Complete” or “Substantial Completion” or “Substantially Completed” mean the date that the Parties agree in writing that the Tenant Improvement Work is delayed all but complete, except that final permits may not have been signed by the city, whereby Tenant Delaysmay take possession and use the Premises as contemplated herein. If, then at any time after the Commencement Date shall be Parties agree that the Tenant Improvement Work is Substantially Complete and the date that the Landlordfinal permits are signed by the city, Tenant’s Work and Base Building Representations would have been Substantially Completed, use of the Premises is encumbered in any manner that prevents Tenant from the normal operation of its business within the Premises as reasonably estimated contemplated herein as a result of any work performed by Landlord, without its agents, employees or contractors, Tenant shall be entitled to an equitable abatement of Rent during such period until such time when the Premises are suitable for Tenant's unimpeded use. During the first twelve (12) months of the Term of this Lease, Landlord shall, at Landlord's sole cost and expense, repair any defects in the construction of the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Improvement Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.
Appears in 1 contract
Sources: Lease Agreement (PDF Solutions Inc)
Commencement Date. a. The Commencement Date of this Lease shall be the earlier of (i) the date on or after May 15, 2005, which is thirty (30) days after the Delivery Date, and (ii) the date Tenant begins fully staffed operation of business in all portions of the Premises. Landlord will proceed diligently and make commercially reasonable efforts to achieve a Delivery Date of not later than April 1, 2005. The Delivery Date shall be the date when both the TI Work and Landlord’s Work have been substantially completed in accordance with this Work Letter (excluding items of work and adjustment of equipment and fixtures that can be completed after the Premises are occupied without causing material interference with Tenant's use of the Premises -- i.e., "punch list items"). As used herein, “substantially completed” shall mean the earlier of: (i) the date Landlord has the Premises ready for occupancy by Tenant as evidenced by (a) December 1, 2021a permanent or temporary Certificate of Occupancy, and (b) the date upon which occurs the Substantial Completion a certificate of the Base Building Work (subject substantial completion as to the penultimate sentence of this paragraph below) TI Work and Landlord’s Work in accordance as issued by the ▇▇▇▇▇▇ Group, Inc., with Law. If the Substantial Completion fee for issuance of the Base Building Representations such certificate being shared equally by Landlord and Landlord’s Work is delayed by Tenant DelaysTenant, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, or (ii) the Demised Premises date Landlord could have substantially completed the TI Work and Landlord's Work had there been no Excused Delays. Landlord 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 permit Tenant access to the Building and Premises on and after April 1, 2005 (regardless of whether Delivery Date has occurred) for the purpose of installing cabling and other fixtures and equipment. Landlord will deliver to Tenant possession of the Premises on the Delivery Date for Tenant’s set-up, installation of furniture and equipment, move-in, and start-up of business operations. Such early occupancy and use of the Premises by Tenant will be replaced; done in coordination with Landlord and Contractor and will be carried out with the 30 ton RTU providing cooling minimum of interruption and disruption of Contractor’s construction, and will be subject to the atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 reasonable requirements of Landlord and Contractor. If Landlord fails to MERV-13 achieve Delivery Date by April 15, 2005 other than as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired a result of force majeure or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoingExcused Delay, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true will be delayed one day for each such day or delay, and beginning on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,Date, Landlord will reimburse Tenant the amount of Tenant’s holdover premium charged by Tenant’s existing landlord under its existing lease, in an amount of up to $51,395.78 per month, plus sales tax (except that if Tenant's existing landlord has notified Tenant that it is negotiating with a prospective lessee of Tenant's premises under the existing lease, the holdover premium for which Landlord shall use commercially reasonable efforts reimburse Tenant may be up to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1$103,505.56 per month, 2021as more specifically provided in Section 18 of Tenant's existing lease).
Appears in 1 contract
Sources: Office Lease (Brown & Brown Inc)
Commencement Date. The Commencement Date of this Lease shall be the later earlier of May 1, 1992 or the date (a) December 1, 2021ten (10) days after the date on which all of the following conditions have been met: (i) all of the work required to be performed by Tenant on the interior of, and on the main entrance to, the existing building on the Premises pursuant to EXHIBIT C has been substantially completed; (ii) Landlord shall have received a certificate from Tenant's Construction Representative certifying such substantial completion; (iii) a Certificate of Occupancy has been issued by the Town of Norwood permitting the occupancy of the entire existing building on the Premises for the Permitted Uses containing no exceptions which interfere with the use of the Premises for the Permitted Uses; or (b) Tenant commences operations of its business in the entire existing building on the Premises (such date upon which occurs as derived from either clause (a) or (b) above, hereinafter the 'Substantial Completion Date"). The term "substantially completed" as used herein shall mean that the work to be performed by Tenant pursuant to EXHIBIT C has been completed, with the exception of minor items which can be fully completed without material interference with Tenant's use and occupancy of the Base Building Work (subject 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 penultimate sentence time, provided that none of this paragraph below) and Landlord’s Work in accordance with Lawsuch 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 comply with those conditions in clause (a) for which it is responsible as promptly as possible following the Substantial Completion Date. Tenant shall as promptly as possible complete any uncompleted work, including minor items and items which earlier were impracticable to perform. Additionally, Tenant shall proceed as promptly as possible after issuance to eliminate any exceptions contained in the Certificate of Occupancy. Upon occurrence of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained hereinDate, Landlord represents to and Tenant that on the Commencement Date and as part of the Base 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, 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 shall enter into 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcside letter acknowledging such date.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease (Analog Devices Inc)
Commencement Date. (a) Subject to Tenant's performance of its obligations hereunder, including, without limitation, its payment of the sums payable to Landlord under this Article 3, Landlord, on behalf of Tenant, shall cause the Initial Leasehold Improvements to be "substantially completed" (as defined below) in accordance with the Approved Plans and possession of the Premises to be delivered to Tenant on or before the date reasonably established by Landlord and announced to Tenant in writing as provided in Section 3.01(d) above (such date, the "Occupancy Date", currently estimated to be during November 1999), subject, however, to the effect of Section 3.03 hereof. The Commencement Date term of this Lease and the obligations of the parties hereto shall commence on a date (hereinafter referred to as the "Commencement Date") which shall be the later sooner of (a) December 1, 2021, and the date Tenant commences operation of its business in all or any portion of the Premises; or (b) the date upon which occurs that the Substantial Completion of the Base Building Work Initial Leasehold Improvements have been "substantially completed".
(subject to the penultimate sentence b) For purposes of this paragraph below) and Landlord’s Work in accordance with Law. If Article 3, the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date Initial Leasehold Improvements shall be deemed substantially completed when the date the Landlord’s Work Architect certifies to Landlord and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) in writing that: (i) the Demised Premises Initial Leasehold Improvements have been completed in accordance with the Approved Plans, subject only to normal punchlist items; and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) Landlord, on behalf of Tenant, has obtained a temporary certificate of occupancy from the Demised Premises will be free from asbestos and other Hazardous Materials in violation Town of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy Wilton permitting the Permitted Use, lawful use and occupancy of the Premises for the purposes specified in this Lease. Landlord shall cause such general contractor or subcontractors to complete any outstanding punchlist items reasonably promptly following the Commencement Date.
(ivc) Landlord's obligation to deliver 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”) , Tenant with the following modifications Leasehold Improvements substantially completed on or before the Occupancy Date shall be extended by the number of days of delay resulting from any "Force Majeure Delay," "Tenant Delay" (as such terms are defined in Section 3.03) or Landlord delay, subject to the Building’s HVAC system: the boiler providing heat operation of Section 3.03.
(d) Landlord agrees 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 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 provide Tenant with its estimate of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, projected date for the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on approximately thirty (30) days prior to the Commencement Date and Landlord has commenced (but such notice shall not be a condition for establishing the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcCommencement Date).,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The Commencement Date (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 later Rent Commencement Date, the Tenant shall receive a credit against minimum rent thereafter due Landlord equal to one (1) day of (a) December 1, 2021, and 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 3(e) below, (iii) with a new roof, roof decking and roof system for the entire Building and (iv) free of any violation of laws, ordinances, regulations and building restrictions (collectively, the “Required Condition”). All work performed by Landlord to put the demised premises in the Required Condition and all Tenant’s Work shall be performed in compliance with all applicable federal, state and local laws, rules, regulations and code requirements.
(c) Subject to the provisions of Section 53 hereof, Tenant shall, at its sole cost and expense, (i) promptly after the demised premises has been delivered to Tenant in the Required Condition, commence performance of the work described on Exhibit “C”, attached hereto and made a part hereof (“Tenant’s Work”) and (ii) within one hundred fifty (150) days after such delivery, cause Tenant’s Work to be completed. Landlord represents that all approvals of the Master Landlord required under the Master Lease have been obtained and that all building and other governmental permits necessary to perform Tenant’s Work can be obtained in the ordinary course of business from the applicable governmental authority. In the event that Master Landlord takes any action, or fails to take any necessary action, and as a result, necessary approvals/permits for the performance of Tenant’s Work cannot be obtained, or additional costs are incurred as a result thereof, or in the event that necessary governmental permits and approvals for Tenant’s Work cannot be obtained, Tenant shall have the right to terminate this Lease by written notice to Landlord, in which event Tenant shall have no further liability hereunder and Landlord shall reimburse Tenant for all costs incurred by Tenant in connection therewith. Tenant’s Work shall be performed lien free by Tenant, in a good and workmanlike manner (employing materials of good quality) in compliance with all governmental requirements. In the event a mechanic’s lien is filed against the demised premises or the Shopping Center on account of Tenant’s Work, Tenant shall discharge or bond off same within thirty (30) days from the filing thereof. If Tenant fails to discharge said lien, Landlord may bond off or pay same without inquiring into the validity or merits of such lien, and all sums so advanced shall be paid on demand by Tenant as additional rent. Prior to the date on which possession of the demised premises is delivered to Tenant as aforesaid, Tenant shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, provided that it does not unreasonably interfere with Landlord’s efforts to put the demised premises in the Required Condition.
(d) From the date upon which occurs the Substantial Completion 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 Base Building Work lease term, Tenant shall observe and perform all of its obligations under this Lease (subject except Tenant’s obligation to operate and pay minimum rent, percentage rent and additional rent.) In the penultimate sentence of this paragraph belowevent Tenant fails to open for business within one hundred eighty (180) and Landlord’s Work in accordance with Law. If days after the Substantial Completion date possession of the Base Building Representations 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 Work minimum rent for each day such failure to open continues.
(e) The parties acknowledge that asbestos is delayed 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 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 amount of such invoice(s) within ten (10) days thereafter. Such payments by Tenant Delays, then the Commencement Date Landlord shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without in addition to payment of the Tenant DelaysAllowance as set forth in Section 58 hereof. Notwithstanding anything to the contrary contained herein, including Section 36 hereof, in the event Landlord represents does not timely pay the amount of such invoice(s) to Tenant, (a) Landlord shall pay to Tenant that interest on such unpaid amounts at eighteen percent (18%) per annum and (b) Tenant shall have the Commencement Date 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 part Tenant has been credited the full amount of the Base Building Work at Landlord’s cost (and not part of Landlord’s Capinvoice(s) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcplus applicable interest.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease (DSW Inc.)
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject Notwithstanding anything to the penultimate sentence of this paragraph below) and Landlord’s Work contrary contained in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant DelaysLease, then the Commencement Date shall be the date which is thirty-eight (38) days prior to the date of substantial completion of Landlord’s 's Work and Base Building Representations (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 been Substantially Completedoccurred but for any Tenant Delay that occurs after the date of this First Amendment (i.e., as reasonably estimated for each day of such Tenant Delay the date of substantial completion of Landlord's Work shall be moved forward by Landlord, without the one (1) day and specifically excluding any claim of Tenant Delays. Notwithstanding anything Delay arising prior to the contrary contained herein, date of this First Amendment pursuant to the releases provided in Section 4 of this First Amendment below). Landlord represents shall provide written notice to Tenant that promptly upon the occurrence of substantial completion of Landlord's Work as set forth above (the "Landlord's Work Completion Notice") and upon receipt of such Landlord's Work Completion Notice, the Parties' shall promptly schedule and perform a walk-through inspection of Landlord's Work in the Premises to identify any "punchlist" items all in accordance with and pursuant to Section 1.6 of Exhibit D to the Lease. All Basic Rental and ▇▇▇▇▇▇'s Proportionate Share of the Estimate of the Direct Costs for the period commencing on the Commencement Date and as part through the last day of the Base Building Work at Landlord’s cost first (and not part of Landlord’s Cap1st) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 full month 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date (less any amounts of Basic Rental and Direct Costs already received by Landlord including pursuant to Article 1(J) of the Lease) shall occur once be due and payable by Tenant to Landlord within five (5) business days after ▇▇▇▇▇▇'s receipt of the Landlord’s 's Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcCompletion Notice.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The Commencement Date of this the Lease shall be the later earlier of the date on which: (i) Tenant takes possession of any portion of the Premises in order to conduct business thereon; (ii) the Premises would have been Ready for Occupancy but for Tenant Delays (as defined in the Improvement Agreement attached hereto as Exhibit B); or (iii) the Premises are Ready for Occupancy, but, in the case of (aii) December 1, 2021, and (b) iii), in no event before the Estimated Commencement Date. The Premises shall be deemed “Ready for Occupancy” on the date upon which occurs the Substantial Completion of the Base Building Work substantial completion (subject to the penultimate sentence as defined herein) of this paragraph below) and all Landlord’s Work to be constructed by Landlord in accordance with Lawthe 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. If Tenant shall, within ten (10) days after receipt of demand, execute and deliver to Landlord a Commencement Date Memorandum in the Substantial Completion 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 Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date following have occurred: (i) Landlord has substantially completed the Landlord’s Work (other than the Cafeteria and Base Building Representations would have been Substantially Completed, as reasonably estimated 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 Landlord, without the Tenant DelaysTenant. Notwithstanding anything to the contrary contained hereinin this Lease, Landlord represents 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 on either the Commencement Date and Cafeteria or the Fitness Center are not Ready for Occupancy, Tenant shall receive as part of the a credit against Base Building Work at Landlord’s cost Rent (and not part of Landlord’s Capas defined in Section 3.1 below) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 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 liquidated damages in the Demised Premises found not to be functioning will be repaired or replaced; two amount of the three cooling towers will be retrofitted with new water treatment systems Five Hundred Dollars (two have been retrofitted already$500.00) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcper day.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease Agreement (Palm Inc)
Commencement Date. The Subject to Sections l.C and ▇.▇ below, the commencement date (“Commencement Date of Date”) for this Lease shall be the later of (a) December 1, 2021, and (b) is the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 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 set forth in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)Schedule. Notwithstanding the foregoing, if Landlord fails to deliver possession of the portion of the Premises consisting of Building C to Tenant on or before the Commencement Date vacant and otherwise in the condition required hereunder for any reason, then (i) this Lease shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on 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 with respect to the portion of the Premises consisting of Building C shall be revised to mean the date on which Landlord delivers possession of Building C to Tenant vacant and otherwise in the condition required hereunder, and the Termination Date shall remain unchanged. Tenant acknowledges and agrees that, notwithstanding anything to the contrary in this Lease, its rights under this Lease with respect to Building C are subject and subordinate in all respects to (i) the option of AMAT (as hereinafter defined) to extend the term of the AMAT Lease (as hereinafter defined) with respect to Building C its set forth in Section 31 of the AMAT Lease, and (ii) any other agreement between Landlord has commenced and AM4T to extend the Base term of the AMAT Lease with respect to Building Work C whether or not reflected in the AMAT Lease or entered into after the date hereof and is working diligently prior to Substantially Complete the Base Building WorkMarch 1 , 2003. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall will use commercially reasonable efforts to Substantially Complete regain possession of Building C in the above modifications event that the term of the AMMAT Lease with respect to Building C is not extended as provided in subpart (i) or (ii) hereof for any reason whatsoever and Vitria (as hereinafter defined) or any other occupant remains in occupancy following termination of the Vitria Sublease (as hereinafter defined) or the AMAT lease as to Building C, including the initiation of unlawful detainer proceedings. In the event the term of the AMAT Lease with respect to Building C is not extended for any reason whatsoever and Landlord fails to deliver possession of Building C vacant and otherwise in the condition required hereunder within ninety (90) days after the estimated Commencement Date for Building C set forth in Item 10 of the Schedule, then Tenant may, by written notice to Landlord, terminate this Lease with respect to Building C only. Upon any such termination. Landlord shall promptly return to Tenant S 146,696.30 representing the portion of the Initial Security Deposit applicable to Building C. Upon request from Tenant. Landlord agrees to promptly inform Tenant as to whether the AMAT Lease has been extended. In the event that the AMAT Lease is extended as set forth in subparts (i) or (ii) above, or this Lease is otherwise terminated as to Building C as expressly set forth in this Lease, references in this Lease to “Building C” shall be deemed deleted, “Premises” and “Building” shall not include Building C, and the square footage, the Base Rent and other rental amounts, Tenant’s HVAC system on or prior to December 1Proportionate Share, 2021the number of parking spaces, the Initial Security Deposit and other similar amounts shall be proportionately reduced.
Appears in 1 contract
Sources: Sublease (Vitria Technology Inc)
Commencement Date. The Commencement Date of this Lease shall be the later last to occur of (a) December 1[February 15, 2021, and (b) 2000] or the date upon which occurs 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 Work requirements referenced on Exhibit C attached hereto.
(subject iv) LESSOR has secured a Certificate of Occupancy for and on behalf of LESSEE. Further to the penultimate sentence 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 paragraph belowprovision. Regardless of the requirements set forth in (i) - (iv) above, LESSEE recognizes that certain work to be performed by LESSOR, as identified as LESSOR's Work herein or otherwise, will require certain cooperation by LESSEE. In addition, LESSEE acknowledges and Landlord’s 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 accordance 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 LawLESSOR'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, and Lessee shall afford Lessor access to the premises for such purposes. Promptly upon the occurrence of the Commencement Date, Lessor and Lessee shall execute a letter substantially in the form attached hereto as Exhibit D, but the failure by either party to execute such a letter shall have no effect on the Commencement Date, as hereinabove determined. If the Substantial Completion Date has not occurred by February 15, 2001 (the "Construction Deadline"), Lessee shall have the right to terminate this Lease by giving notice to Lessor not later than thirty (30) days after the Construction Deadline of Lessee's election so to do, and Lessor shall have 30 days to cure such default. Failing which, this Lease shall cease and come to an end without further liability or obligation on the Base Building Representations and Landlord’s Work is delayed 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 Tenant Delays, then the Commencement Date Lessee as provided for herein. Such right of termination shall be the date the Landlord’s Lessee's sole and exclusive remedy at law or in equity for Lessor's failure so to complete such Lessor's Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021before the Construction Deadline. The Construction Deadline shall automatically be extended for the period of any delays caused by Force Majeure or for any delay caused by Lessee.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the The Commencement Date shall be targeted for the date set forth in Section 2.03 hereof, but shall be the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) earlier of: (i) the Demised Premises date on which the 3rd Floor Tenant Improvement Work (as defined in Exhibit C) is substantially completed and Building Structure will be structurally sound and free from leaks, and Tenant can take occupancy of the Demised Premises will be demised, broom clean, and in compliance with Law, Premises; or (ii) the Demised Premises will be free from asbestos and day on which Landlord obtains a Certificate of Occupancy (temporary or final) or other Hazardous Materials in violation form of existing Law, governmental approval permitting Tenant’s occupancy of the 3rd Floor Premises; or (iii) there 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 valid temporary or permanent Certificate of Occupancy permitting (temporary or final).
(b) After the Permitted Usecommencement 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.
(ivc) The Expansion Space Effective Date shall be 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 earlier of: (i) – the date on which the Expansion Space Tenant Improvement Work (vas defined in Exhibit C) above being hereinafter referred is substantially completed and Tenant can take occupancy of the Expansion Space; or (ii) the day on which Landlord obtains a Certificate of Occupancy (temporary or final if required) or other form of governmental approval permitting Tenant’s occupancy of the Expansion Space; or (iii) the day on which Tenant takes occupancy of any portion of the Expansion Space; provided that Landlord is not unreasonably delayed in the completion of Expansion Space Tenant Improvement Work due to as the “Base Building Representations”) , with the following modifications Tenant’s Work Changes to the BuildingPlans and Specifications, Additional Work requests or Tenant’s HVAC system: delays in giving necessary approvals, in which case the boiler providing heat to the Building Expansion Space Effective Date will be replaced; accelerated by the 30 ton RTU providing cooling to the atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and number of any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two such days of delay. Landlord shall inform Tenant of the three cooling towers will be retrofitted with new water treatment systems anticipated date on which it expects to substantially complete the Expansion Space Tenant Improvement Work and/or receive a Certificate of Occupancy (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”temporary or final). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.
Appears in 1 contract
Sources: Lease Agreement (Sco Group Inc)
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject Landlord covenants to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete cause substantial completion of (i) the above modifications Shell Improvements and delivery of the Premises to Tenant for purposes of Tenant's construction of the Building’s HVAC system Tenant Improvements in accordance with the Work Letter on or prior to December before April 1, 20212001, and (ii) substantial completion of the Base Building Improvements on or before July 1, 2001. If Landlord fails to meet either or both of the foregoing dates due to default on the part of Landlord (as determined in accordance with Article 26 below) or as a result of the occurrence of events of force majeure as described in Article 41 below, then as Tenant's sole remedies for the delay in Tenant's taking possession of the Premises or the completion of the Base Building Improvements, (a) Tenant shall be entitled to one (1) day of free Rent in the Premises for each day that Landlord fails to timely deliver the Shell Improvements and/or the Base Building Improvements as required herein (the "Free Rent Period"); (b) the Rent Commencement Date shall be delayed for the 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 (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 January 1, 2002 due to default on the part of Landlord (determined in accordance with Article 26 below) or as a result of the occurrence of events of force majeure as described in Article 41 below, then Tenant shall have the right to terminate this Lease upon ten (10) days' prior written notice to Landlord. The date on which Landlord actually delivers possession of the Premises to Tenant in accordance with the foregoing is referred to herein as the "Commencement Date."
Appears in 1 contract
Commencement Date. The Commencement Date term of this Lease lease (the “Term”) shall commence on the date (herein referred to as “Commencement Date”) which shall be the later earlier of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (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 Building Structure will it shall be structurally sound and free from leaksso 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 will be demised, have been delivered to Tenant vacant and 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete 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 above modifications 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. Landlord shall use commercially reasonable efforts to complete such punchlist items as soon as possible after receipt of notice thereof, and to minimize interference with Tenant’s conduct of business during such work. Tenant shall commence paying the Basic Annual Rent and additional rent due under this Lease on the date (the “Rent Commencement Date”) that is the later of the date that is five (5) Business Days after the Commencement Date and June 1, 2019. Notwithstanding anything herein to the Building’s HVAC system on or prior to December contrary, in the event the Commencement Date does not occur by November 1, 20212019 (“Outside Date”), Tenant shall have the right to cancel this Lease by written notice to Landlord, and upon delivery of such notice this Lease shall be deemed terminated and neither party shall have any further rights or obligations hereunder.
Appears in 1 contract
Sources: Lease Agreement (Inter Parfums Inc)
Commencement Date. The Upon the Effective Date, the terms and ----------------- provisions hereof shall be fully binding on Landlord and Tenant prior to the occurrence of the Commencement Date (as hereinafter defined). The Term of this Lease shall be commence on that date (the "Commencement Date") which is the later of the (ai) December "Scheduled Commencement Date" specified in Article 1, 2021or (ii) date any portion of the Premises comprising at least a full floor is deemed Ready for Occupancy (as such term is defined in the Workletter Agreement (as hereinafter defined)). Unless sooner terminated as hereinafter provided, the Term shall end on the "Expiration Date" specified in Article 1. Landlord shall use its commercially reasonable efforts to tender all four (4) of the floors comprising the Premises within thirty (30) days following the Term Commencement Date. Tenant's obligation to pay Fixed Rent and Operating Expenses and Taxes shall commence on a Floor by Floor basis as each such Floor is tendered to Tenant in its Ready for Occupancy condition. If Landlord does not tender possession of all or any portion of the Premises to Tenant on or before the Scheduled Commencement Date in its Ready for Occupancy condition for any reason whatsoever, Landlord shall not be liable for any damage thereby, this Lease shall not be void or voidable thereby, and (b) the date upon which occurs the Substantial Completion Tenant shall not be liable for any Rent or any other sums payable by Tenant hereunder with respect to any nontendered portion of the Base Building Work Premises (subject except for (1) any special services provided by Landlord at Tenant's request with the understanding that Tenant's obligation to pay therefor is not conditioned upon delivery of the Premises and which are not customarily provided to tenants of buildings comparable to the penultimate sentence Building except at additional cost and (2) any damages or claims under any indemnities by Tenant set forth in this Lease) until Landlord tenders possession of this paragraph below) and Landlord’s Work such portion of the Premises to Tenant in accordance with Lawits Ready for Occupancy condition, unless the delay in tendering possession of the Premises to Tenant is caused by "Tenant Delays" as defined in the Workletter Agreement. If the Substantial Completion any such delay in Landlord's tendering possession of the Base Building Representations and Landlord’s Work Premises to Tenant is delayed caused by Tenant Delays, then Tenant shall be liable for Rent commencing on the date Landlord would have been able to tender possession of the Premises to Tenant with the Premises in its Ready for Occupancy condition had there not occurred Tenant Delays. No failure to tender possession of the Premises to Tenant on or before the Scheduled Commencement Date shall in any way affect any other obligations of Tenant hereunder; provided, however, that if Landlord fails to tender possession of the Premises in their Ready for Occupancy condition by December 31, 2000 (the "Termination Date"), which Termination Date shall be extended one (1) day for each day of Tenant Delays, then Tenant shall have the right, upon prior written notice to Landlord, to terminate this Lease, unless, prior to the Termination Date specified in Tenant's Termination Notice, Landlord tenders possession of the Premises to Tenant in their Ready for Occupancy condition. If Tenant elects to so terminate this Lease, Landlord shall not be obligated to reimburse Tenant for the costs of the planning, design or construction of the Improvements (as hereinafter defined) paid for by Tenant prior to the effective date of termination. Once all four (4) floors of the Premises have been delivered and the Commencement Date has been determined, Landlord and Tenant shall execute an amendment to this Lease stating the Commencement Date, the Expiration Date and the dates Fixed Rent commenced for each of the four (4) floors comprising the Premises, but any failure to execute such an amendment shall not affect the determination of such dates hereunder. Tenant shall have the right, prior to the Commencement Date, to enter the Premises for purposes of planning, constructing and installing Tenant's furnishings and equipment in the Premises, including, without limitation, Tenant's installation of telecommunications and computer cables, provided that in connection with any such early entry (a) Landlord reasonably determines that such entry would not unreasonably impede or interfere with Landlord's construction of the Improvements and (b) Tenant's entry shall be subject to such safety procedures and restrictions as Landlord's contractor may reasonably impose. To the date fullest extent permitted by law but excluding the Landlord’s Work and Base Building Representations would have been Substantially Completedgross negligence or willful misconduct of Landlord or its employees, as reasonably estimated agents or contractors, Tenant hereby assumes the entire risk of damage of, or injury to, any of Tenant's furniture, furniture systems or equipment installed or placed in any portion of the Premises by Landlord, without the Tenant Delays. Notwithstanding anything prior to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcDate.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease (Portal Software Inc)
Commencement Date. The Commencement Date of this This Lease Agreement shall be for an initial term of ten (10) years (the later "Initial Term") commencing on the "Commencement Date" (as hereinafter defined). The term "Commencement Date" shall mean the earlier of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (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 this Lease Agreement or (ii) the occupancy of the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 commencement of existing Law, business operations by Tenant or (iii) there the date that Substantial Completion would have occurred but for the delay caused or contributed to by any act or neglect of Tenant or those acting for or under Tenant (including Tenant Change Orders, Tenant Installation Work, Tenant Installation Contractor and Tenant Installation Contracts) (calculated in whole days for the actual number of days of delay), including delays attributable to Tenant's responses to or 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 be a valid temporary take to receive such items within ten (10) business days after Landlord's initial receipt of plans or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working orderspecifications including such item, 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 then only to the Building’s HVAC system: the boiler providing heat to the Building will extent that such delay could not 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably ableavoided or reduced by Landlord's timely ordering of such item, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted alreadyallowing for such long lead time.) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”collectively "Tenant Delay"). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and If Landlord has commenced the Base Building Work and is working diligently desires to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, allege that Tenant Delay or township delays in approving planshas occurred, issuing permits, inspecting work, etc.,no later than ten (10) business days after the occurrence of a Tenant Delay, Landlord shall use commercially reasonable efforts deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to Substantially Complete the above modifications subparagraph (iii) hereof, to the Building’s HVAC system on or prior extent any other Force Majeure Event coincides with an event of Tenant Delay, the date that Substantial Completion would have occurred but for such other Force Majeure Event will be extended "day for day" to December 1, 2021the extent of such other Force Majeure Event.
Appears in 1 contract
Commencement Date. (a) The Commencement Date rights, duties and obligations of the parties under this Lease shall be effective upon the later execution hereof, except that Tenant's obligation to pay rental hereunder shall commence upon the first to occur of the following dated (athe "Commencement Date"): (1) December 1the date on which the Leasehold Improvements in the Premises are substantially completed; or (2) thirty (30) days following the date on which Tenant takes possession of and occupies the Premises for installation of furniture or fixtures or otherwise; or (3) on the Estimated Commencement Date, 2021, and provided a Certificate of Occupancy or a Temporary Certificate of Occupancy has been issued for the Premises by such date. The Premises shall be deemed ready for occupancy when Landlord has substantially completed the work described in Exhibit "C" attached hereto.
(b) the date upon which occurs the Substantial Completion If Landlord is unable to deliver possession of the Base Building Work (subject Premises to Tenant on the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion Estimated Commencement Date because of the Base Building Representations holding-over by any occupant of the Premises, or because the Premises are not substantially completed, or for any other reason, this Lease shall continue in effect and Landlord’s Work is delayed by Landlord shall not be liable to Tenant Delaysor any third party for such inability; provided, then however, the Commencement Date shall be delayed (provided Tenant is not responsible for its inability to take possession) until that date 15 days after Landlord gives Tenant notice that the Premises are ready for occupancy. If Landlord fails to give such notice within 180 days after the Estimated Commencement Date, Tenant shall have the right to terminate this Lease by notice to Landlord within 10 days of the end of said 180 day period. If Landlord fails to give such notice within one year after the Estimated Commencement Date. this Lease shall be null and void.
(c) If Landlord gives Tenant permission to enter into possession of the Premises prior to the Commencement Date, such possession shall be deemed to be upon all the terms, covenants, conditions and provisions of this Lease, including payment of the Rent.
(d) If the substantial completion of the Premises by Landlord is delayed due to any act or omission of Tenant or Tenant's Representatives, including any delays by Tenant in the submission of plans, drawings, specifications or other information or in approving any working drawings or estimates or in giving any authorization or approval, the Premises shall be deemed substantially completed on the date the Landlord’s Work and Base Building Representations when they would have been Substantially Completed, as reasonably estimated ready but for such delay.
(e) The Premises shall be deemed substantially completed and ready for occupancy upon the issuance of a certificate of substantial completion by Landlord's architect or of a certificate of occupancy by the local building authority, without the Tenant Delays. Notwithstanding anything to the contrary contained hereinnotwithstanding that minor or insubstantial details of construction, Landlord represents to Tenant that on the Commencement Date and as part of the Base 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, 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 mechanical adjustment 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 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 decoration remain to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcperformed.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Office Lease (Jreck Subs Group Inc)
Commencement Date. The From and after the Commencement Date (except as set forth in this Exhibit B), Tenant shall be liable to Landlord for the payment of this Rent and any other payment as set forth in the Lease. The “Commencement Date” under the Lease shall be the later date on which the Improvements (excluding completion of (aany Tenant Improvements or Tenant’s Extra Work) December 1are Substantially Completed; provided, 2021however, and (b) in the date upon which occurs the event Substantial Completion of the Base Building Work Improvements (subject to the penultimate sentence excluding completion of this paragraph belowany Tenant Improvements or Tenant’s Extra Work) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by due to Tenant Delays, then for purposes of the payment Rent and any other payment required to be made by Tenant pursuant to the Lease, the Commencement Date shall be that date on which the date the Landlord’s Work and Base Building Representations Improvements would have been Substantially Completed, as reasonably estimated by Landlord, without Completed but for the occurrence of such Tenant Delays. Notwithstanding anything to If the contrary contained hereinImprovements are not Substantially Completed but are partially ready for occupancy, Landlord represents to Tenant that on may, but need not, occupy the Commencement Date and as part portion of the Base 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 leaksImprovements that is ready for occupancy, and the Demised Premises will be demised, broom cleanprovided such partial occupancy is permitted by applicable law, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation event 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 ordersuch partial occupancy, and (v) if Tenant elects to partially occupy the Building Systems serving Improvements, Tenant shall pay to Landlord pro rata Rent based upon the Demised area of the Premises will be in good working order (items (i) – (v) above being hereinafter referred so occupied by Tenant. Such obligation 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 pay Rent on a proportionate basis shall commence on the nine heat pumps serving date on which Tenant first occupies and takes possession of any portion of the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably ablePremises, and any heat pumps in shall continue through the Demised Premises found not Commencement Date. Tenant’s right to be functioning will be repaired or replaced; two so occupy and utilize a portion of the three cooling towers will Premises shall nevertheless be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications subject 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 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 reasonable approval, 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 delaysthroughout such partial occupancy, Tenant Delay shall fully cooperate with Landlord to facilitate Landlord’s Substantial Completion of any remaining or township delays in approving plansoutstanding Improvements without any interference. Except for Tenant’s entry into the Premises for purposes of inspections and performing and installing Tenant Improvements pursuant to Section 8 of this Exhibit B, issuing permits, inspecting work, etc.,, Landlord Tenant shall use commercially reasonable efforts to Substantially Complete not occupy any portion of the above modifications to the Building’s HVAC system on or Premises prior to December 1, 2021Substantial Completion thereof.
Appears in 1 contract
Sources: Industrial Building Lease (Cybex International Inc)
Commencement Date. The Commencement Date of this the Lease shall be thirty (30) days after the later of Premises are substantially complete. Substantial Completion shall be evidenced when (a) December 1, 2021, final inspection is approved by the City of Carlsbad and Tenant is legally permitted to occupy the Premises for the conduct of its business; (b) the date upon which occurs the Substantial Completion of the Base all Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 systems are in good working order to support the operation of the Premises; and (items (ic) – (v) above being hereinafter referred to as the “Base Building Representations”) , with Tenant Improvements are complete excepting industry-standard punch-list items.
2.2.1 Notwithstanding 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 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 Scheduled Commencement Date set forth in the Demised Premises found Basic Lease Provisions, if for any reason Landlord cannot to be functioning will be repaired or replaced; two deliver possession of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications Premises 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true Tenant on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,said date, Landlord shall use commercially not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof, but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within sixty (60) days following said Scheduled Commencement Date for any reason, other than Tenants Delays as defined in the Work Letter attached hereto as Exhibit "D" and delays beyond the reasonable efforts control of Landlord, Tenant may, at Tenant's option, by notice in writing to Substantially Complete the above modifications Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Building’s HVAC system on Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be cancelled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect.
2.2.2 Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises.
2.2.3 If Tenant occupies the Premises prior to December 1said Commencement Date (other than to install and/or store furniture and equipment), 2021such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.
Appears in 1 contract
Sources: Office Building Lease (Convera Corp)
Commencement Date. 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 files or causes to be filed with the City in which the Premises are located (if required) and delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete, (2) Tenant commences business operations in the Premises, or (3) a certificate of occupancy is issued for the Premises. Landlord shall arrange for the construction of certain Tenant Improvements (as defined in the Work Letter), if any, in accordance with and subject to the terms of the Work Letter attached hereto as Exhibit "B". 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 the Premises, and (iii) Tenant's acceptance of the Premises. If the Premises are not Substantially Complete on the Estimated Commencement Date, this Lease shall remain in effect, Landlord shall not be the later of (a) December 1, 2021subject to any liability, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be delayed until the date the Landlord’s Premises are Substantially Complete. Tenant has determined that the Premises are acceptable for Tenant's use and Tenant acknowledges that, except as set forth in the Work and Base Building Representations would have been Substantially CompletedLetter, as reasonably estimated by Landlord, without neither Landlord nor any broker or agent has made any representations or warranties in connection with the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part physical condition of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and their fitness for Tenant's use upon which Tenant has relied directly or indirectly for any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)purpose. Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and if Landlord has commenced not delivered the Base Building Premises to Tenant with Substantial Completion of the Tenant Improvements by the date which is six (6) months after Tenant's approval of the Construction Drawings pursuant to Section 1 of the Work and is working diligently to Substantially Complete the Base Building Work. Subject Letter, subject to any delays caused by Force MajeureMajeure and Tenant Delays, manufacturer delivery delaysthen Tenant shall have the right to terminate this Lease upon thirty (30) days' notice to Landlord; provided, however, that if upon such 30-day notice Landlord can substantially complete the Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,Improvements within ten (10) days of such notice, Landlord shall use commercially reasonable efforts notify Tenant of Landlord's ability to Substantially Complete so complete the above modifications Tenant Improvement work and Tenant shall have no right to the Building’s HVAC system on or prior to December 1, 2021terminate this Lease.
Appears in 1 contract
Sources: Sublease Agreement (E Loan Inc)
Commencement Date. The Commencement Date of this the Lease shall will be the later last to occur of (the 503B Commencement Date and the Pharmacy Commencement Date, as said terms are defined below in this Section 1.17. Subject to the right of termination as to the 503B Space set forth in Section 6 of Exhibit “A”, the “503B Commencement Date” will be deemed to have occurred upon the earlier of: a) December 1the day immediately after expiration of the Early Occupancy Period (as said term is defined in Section 5 of Exhibit “A”), 2021, and (b) the date upon which occurs Tenant commences full scale business operations within the Substantial Completion 503B Space, having received all of the Base Building Work (subject 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 penultimate sentence 503B Space, as said right of this paragraph belowtermination is set forth in Section 6 of Exhibit “A”. The “Pharmacy Commencement Date” will be deemed to have occurred upon the earlier of: a) and two hundred twenty-five (225) days after the Delivery Date of the NCO Space; and, b) the date Tenant commences full scale business operations within the Pharmacy Space. Landlord acknowledges that Tenant will not be deemed to have commenced full scale business operations within the Pharmacy Space as a result of the use thereof by up to fifty-five (55) employees of Tenant working in its call center. However, if more than fifty-five (55) employees of Tenant are working in any portion of the Pharmacy Space, but Tenant is not then utilizing at least seventy-five percent (75%) of the Pharmacy space for the conduct of its business, then Tenant will pay Annual Base Rent for that portion of the Premises that is occupied by said employees at the rate of $15.75/RSF/year. Upon determination, Tenant shall, upon Landlord’s Work in accordance with Law. If request, execute and deliver a written statement specifying the Substantial Completion Commencement Date, Expiration Date and other pertinent dates of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, Term as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the form that is attached hereto as Exhibit “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work G” and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcby this reference incorporated herein.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease Agreement (HS Spinco, Inc.)
Commencement Date. The Commencement Date "TARGET COMMENCEMENT DATE" is June 1, 2000. The "COMMENCEMENT DATE" of this Lease shall will be the later of date on which: (a) December 1, 2021, and (bi) the date upon which occurs the Substantial Completion of Landlord certifies to Tenant that the Base Building Work is substantially complete; and (subject ii) Landlord certifies to Tenant that the penultimate sentence "Tenant Improvements" (as hereinafter defined) are substantially complete; and (iii) the City has issued a certificate of this paragraph below) and Landlord’s Work in accordance with Law. If occupancy for the Substantial Completion of Premises; provided that if the Base Building Representations and Landlord’s Work Commencement Date is delayed by reason of delays caused by the Tenant Delays(a "TENANT DELAY"), including, but not limited to, the failure of Tenant to timely deliver construction drawings to Landlord for the Tenant Improvements, then the Commencement Date shall will be deemed to occur on the Target Commencement Date. The Term will commence on the Commencement Date. The "RENT COMMENCEMENT DATE" will be the date which is thirty (30) days after the Landlord’s Work Commencement Date. Tenant's obligation to pay Minimum Annual Rent and Base Building Representations would have been Substantially CompletedAnnual Real Estate Taxes and Operating Expenses will commence on the Rent Commencement Date. Upon request, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on will execute a memorandum confirming the Commencement Date and as part of the Base 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, 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 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 form of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)attached EXHIBIT "B". Notwithstanding the foregoing, 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 occur once the Landlord’s Work is Substantially Completed even though the provide a credit against Minimum Annual Rent first coming due hereunder in an amount equal to $44,271.00 (being one month's Base Building Work is not Substantially Completed as long as the Base Building Representations are true on Rent and Additional Rent payable by Tenant to its current landlord). If the Commencement Date has not occurred by July 1, 2000, as that date is adjusted by reason of Excused Delay, then Landlord shall provide a credit against Minimum Annual Rent first coming due hereunder in an amount equal to an additional $44,271.00. If the Commencement Date has not occurred by August 1, 2000, as that date is adjusted by reason of Excused Delay, then Landlord shall provide a credit against Minimum Annual Rent first coming due hereunder in an amount equal to an additional $44,271.00, for a maximum rent credit by reason of the foregoing three sentences of $132,813.00. Tenant shall use its best efforts to negotiate a per day holdover at the current Rent. The Landlord will pay the actual amount paid by Tenant to its current landlord, not to exceed the maximum rent credit described above. The rent credit described in this paragraph has been agreed upon as liquidated damages by reason of Landlord's failure to deliver the Premises by the Target Commencement Date, and Landlord will have no obligation to pay other damages, direct, indirect, special or consequential by reason of this Lease. If the Commencement Date has commenced not occurred by September 1, 2000, as that date is extended for Excused Delay, then either party may terminate this Lease by giving written notice of termination to the Base Building Work and 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 working diligently due to Substantially Complete a Tenant Delay. If the Base Building Work. Subject to any Force MajeureCommencement Date has not occurred by October 1, manufacturer delivery delays2000, 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 if, because of the casualty Landlord, in Landlord's reasonable judgement, will not be able to cause the Premises to be substantially completed and the Commencement Date to occur on or township delays in approving plansbefore the Completion Deadline, issuing permits, inspecting work, etc.,, then Landlord shall use commercially reasonable efforts so notice Tenant and either Landlord or Tenant shall have the right to Substantially Complete the above modifications terminate this Lease by giving written notice to the Building’s HVAC system on or prior other within 10 days following Landlord's notice; if neither party so elects to December 1so terminate this Lease, 2021then Landlord will proceed with the construction and the Completion Deadline shall be extended by the delay resulting from the casualty.
Appears in 1 contract
Sources: Lease Agreement (Plato Learning Inc)
Commencement Date. Upon the Effective Date, the terms and provisions hereof shall be fully binding on Landlord and Tenant prior to the occurrence of the Commencement Date. The Commencement Date Term of this Lease shall be commence on that date (the later "COMMENCEMENT DATE") which is the earlier to occur of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, Effective Date or (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation date on which Landlord completes the acquisition 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 title to the Building’s HVAC system: Real Property. Immediately following 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 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 close of escrow of Landlord's purchase of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,Real Property, Landlord shall advise Tenant in writing of the same. Unless sooner terminated or extended as hereinafter provided, the Term shall end on the "EXPIRATION DATE" specified in Article 1. If Landlord does not tender possession of Block One to Tenant on or before the Scheduled Rent Commencement Date (Block One) or Block Two by the Scheduled Rent Commencement Date (Block Two), for any reason whatsoever, Landlord shall not be liable for any damage thereby, and this Lease shall not be void or voidable thereby. . No failure to tender possession of the applicable portion of the Premises to Tenant on or before the Scheduled Rent Commencement Date (Block One) or the Scheduled Rent Commencement Date (Block Two), as the case may be, shall in any way affect any other obligations of Tenant hereunder, provided, however, that Landlord shall use its commercially reasonable efforts to Substantially Complete recover possession of Block Two on May 31, 2000, or as soon thereafter as is reasonably feasible (without any obligation to commence any unlawful detainer proceedings against Chevron Corporation). In addition, Landlord covenants and agrees not to amend the above modifications lease with Chevron Corporation in order to grant Chevron Corporation the right to remain in possession of Block Two after May 31, 2000. In addition, if Landlord is unable to tender Block Two to Tenant on or before May 31, 2000, but Landlord has other available units of space within the Building (the "TEMPORARY SPACE"), then Landlord may (if Landlord elects to do so in its sole discretion), make such Temporary Space available for Tenant's use and occupancy for a period not to exceed 60 days. If Tenant elects to occupy such Temporary Space, Tenant shall do so on all of the terms and provisions of this Lease (including those with respect to Rent) for such period as Landlord may specify. Landlord shall tender such Temporary Space in its then As-Is condition and shall have no obligation to ready the space for Tenant's use and occupancy. Once the respective Rent Commencement Dates are determined, Landlord and Tenant shall execute an agreement stating the Commencement Date, Rent Commencement Date (Block One), Rent Commencement Date (Block Two) and Expiration Date, but the failure to do so will not affect the determination of such dates. For purposes of determining whether Tenant has accepted possession of the Premises, Tenant shall be deemed to have done so when Tenant first moves Tenant's Property and/or any of its personnel into the Premises, except to the Building’s HVAC system on extent that Tenant is authorized in this Lease or prior by Landlord's agreement to December 1, 2021.do any of the foregoing without being deemed to have accepted possession of the Premises. \
Appears in 1 contract
Commencement Date. The Commencement Date of this This Lease Agreement shall be for an initial term of ten (10) years (the later “Initial Term”) commencing on the “Commencement Date” (as hereinafter defined). The term “Commencement Date” shall mean the earlier of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (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 this Lease Agreement or (ii) the occupancy of the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 commencement of existing Law, business operations by Tenant or (iii) there the date that Substantial Completion would have occurred but for the delay caused or contributed to by any act or neglect of Tenant or those acting for or under Tenant (including Tenant Change Orders, Tenant Installation Work, Tenant Installation Contractor and Tenant Installation Contracts) (calculated in whole days for the actual number of days of delay), including delays attributable to Tenant’s responses to or 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 be a valid temporary take to receive such items within ten (10) business days after Landlord’s initial receipt of plans or permanent Certificate of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working orderspecifications including such item, 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 then only to the Buildingextent that such delay could not be avoided or reduced by Landlord’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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably abletimely ordering of such item, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted alreadyallowing for such long lead time.) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the collectively “Base Building WorkTenant Delay”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and If Landlord has commenced the Base Building Work and is working diligently desires to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, allege that Tenant Delay or township delays in approving planshas occurred, issuing permits, inspecting work, etc.,no later than ten (10) business days after the occurrence of a Tenant Delay, Landlord shall use commercially reasonable efforts deliver Tenant written notice that an alleged Tenant Delay has occurred; provided, however, that with respect to Substantially Complete the above modifications subparagraph (iii) hereof, to the Building’s HVAC system on or prior extent any other Force Majeure Event coincides with an event of Tenant Delay, the date that Substantial Completion would have occurred but for such other Force Majeure Event will be extended “day for day” to December 1, 2021the extent of such other Force Majeure Event.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject Notwithstanding anything contained herein 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----------------- contrary, then the Commencement Date shall be deemed to be the earlier of: (a) the date Tenant, or any person occupying any portion of the Premises with Tenant's permission, commences business operations from the Premises, or (b) the first (1st) business day following the date of Landlord’s Work and Base Building Representations 's delivery of the Premises to Tenant upfitted in accordance with the Plans (as hereinafter defined) or the date upon which Landlord would have been Substantially Completed, as reasonably estimated by Landlord, without delivered the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents Premises to Tenant that on upfitted in accordance with the Commencement Date Plans but for Tenant Delays (as hereinafter defined). Landlord shall act in good faith and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) use diligent efforts to (i) commence the Demised Premises and Building Structure will be structurally sound and free from leaksTenant Improvements (as hereinafter defined) as soon as reasonably practical under the circumstances following the completion of the Plans), and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) deliver exclusive possession of the Demised Premises will to Tenant with Landlord's Work and the Tenant Improvements all Substantially Completed in accordance with the Plans to Tenant on or before that date (the "Target Date") which is twelve (12) full weeks following the issuance of a building permit by the applicable governmental authority for the Tenant Improvements (Landlord agreeing to use diligent efforts to obtain a building permit). Prior to Tenant's occupancy of the Premises, the parties shall agree on certain "punchlist" items to 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 ordercompleted after Tenant's occupancy, and Landlord agrees to complete such punchlist items promptly after occupancy but in no event more than sixty (v60) days after 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 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 date Tenant takes possession of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Premises except for delays beyond Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc's reasonable control.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease Agreement (Oni Systems Corp)
Commencement Date. The 2.4.1 Landlord shall complete the Tenant Improvements in accordance with the Plans and Specifications. Landlord's completion of the Tenant Improvements shall be performed by Landlord's contractors, and the Tenant Improvement Allowance shall be applied against the cost thereof as provided in paragraph 2.5 hereof. Landlord shall notify Tenant in writing of Substantial Completion. If Tenant believes that Substantial Completion has not occurred, Tenant shall notify Landlord in writing of its objections within five (5) Business Days after its receipt of the Landlord's notice described in the preceding sentence. Landlord shall have a reasonable time after its receipt of Tenant's notice in which to take such action as may be necessary to achieve Substantial Completion, and shall notify Tenant in writing when such has been achieved. Taking of possession by Tenant shall establish the Commencement Date as specified in the definition of this Lease that term even if Tenant disputes whether Substantial Completion has occurred or attempts to condition or qualify the taking of possession. Taking of possession shall be further establish that the later of Premises are in good and satisfactory condition on the Commencement Date and, except as expressly provided below with respect to latent defects in the Tenant Improvements, any alleged defects or deficiencies are waived by the Tenant except for any incomplete Punch List Work. Tenant shall notify the Landlord in writing within three (a3) December 1, 2021, and (b) the date upon which occurs the months after Substantial Completion of the Base Building Work (subject existence of any latent defects pertaining to the penultimate sentence Tenant Improvements. If Tenant fails to notify the Landlord of any latent defects pertaining to the Tenant Improvements within such period, Tenant shall be deemed to have waived any rights on account thereof. Tenant acknowledges that no representations as to the condition of the Premises have been made by Landlord, unless such are expressly set forth in this paragraph below) Lease. With the exception of the Tenant Improvements to be made by Landlord, Tenant acknowledges that the Premises shall be delivered AS IS and that no representations as to the condition of the Premises have been made by Landlord’s . In the event of any dispute as to whether Substantial Completion has occurred, the receipt of a temporary certificate of occupancy shall be conclusive unless a temporary certificate of occupancy is unavailable or delayed due to causes which are Tenant's responsibility. If on the Commencement Date, Punch List Work remains to be completed, Landlord and Tenant shall agree on such Punch List Work prior to occupancy by Tenant and Landlord will promptly complete it after the Commencement Date. In no event shall Tenant's refusal or failure to agree on the nature and extent of Punch List Work or the existence of items of Punch List Work delay or postpone the occurrence of the Commencement Date. Tenant shall make no changes to the Plans and Specifications or the work reflected in the Plans and Specifications without the consent of Landlord, which consent shall not be unreasonably withheld.
2.4.2 Tenant shall be permitted entry into the Premises before Substantial Completion for the limited purpose of installing such wiring and cabling in the Premises as are approved by Landlord in accordance with Lawthe paragraph entitled "Tenant Alterations". Approved wiring and cabling will be in addition to the Tenant Improvements and shall be governed by the paragraphs entitled "Tenant Alterations" and "Tenants Work Performance." Tenant, its contractors and designees may enter into the Premises for the purposes described in this subparagraph twenty-eight (28) days in advance of the scheduled date for Substantial Completion, but any such entry shall be at the Tenant's risk and subject to all the terms of the Lease, except the obligation to pay Base Rent. If installation and work performed during the period of Tenant's early entry delay Substantial Completion of or interfere with or damage the Base Building Representations Landlord's work, Tenant shall be responsible for the damage caused Landlord. Further, any such delay in Substantial Completion shall be deemed "Tenant Delay" and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be deemed to have occurred on the date the Landlord’s Work and Base Building Representations that Substantial Completion would have been Substantially Completed, as reasonably estimated by Landlord, without the achieved absent such Tenant Delays. Delay.
2.4.3 Notwithstanding anything to the contrary contained herein, in the event that Landlord represents to Tenant that on the Commencement Date and as part has not achieved Substantial Completion of the Base Building Work at Landlord’s cost Tenant Improvements within one hundred twenty (120) days after the date of this Lease (subject to extension for Tenant Delay and for events of force majeure as provided in Paragraph 6.8), then Tenant shall have the right to cancel this Lease upon not part of Landlord’s Capless than fifteen (15) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 days written notice given to the Building’s HVAC system: the boiler providing heat Landlord prior to the Building will date that the Landlord has achieved Substantial Completion, provided such cancellation shall 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as void and where reasonably able, this Lease shall continue in full force and any heat pumps effect in the Demised Premises found not to be functioning will be repaired or replaced; two of event that the three cooling towers will be retrofitted with new water treatment systems Landlord achieves Substantial Completion within such fifteen (two have been retrofitted already15) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcday period.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The Term shall be for the period of time specified in the Basic Lease Information unless sooner terminated as 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 Delay Notice”) to Landlord delivered no later than two (2) days after Tenant has received notice of this Lease the date that the Premises will be substantially complete, to delay the commencement of the Term for a period not to exceed thirty (30) days after the date that the Premises are substantially complete (as such date of substantial completion may be adjusted for Tenant Delays as provided in the Work Letter). The date of substantial completion or, if Tenant delivers a Commencement Date Delay Notice, such delayed date, shall be the 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“Commencement Date”. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed Premises are not substantially completed by Tenant DelaysSeptember 1, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost 2008 (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building WorkOutside Date”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,, Landlord shall use commercially reasonable efforts to Substantially Complete make other space in the above modifications to Building or in other buildings owned by Landlord in the vicinity of the Building, available for Tenant’s HVAC system use on a temporary basis pending substantial completion of the Premises, at the same base rental rate per rentable square foot as would be payable by Tenant under this Lease. The Outside Date shall be extended by one (1) day for each day of Tenant Delay or prior Force Majeure delay (as defined in Section 22.15 below). For purposes of this Lease, the first “Lease Year” shall mean the period commencing on the Commencement Date and ending twelve (12) months thereafter, except that if the Commencement Date is other than the first day of a calendar month, the first “Lease Year” shall mean the period commencing on the Commencement Date and 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 December 1, 2021twelve (12) full calendar months.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease shall be the later earliest of (a) December 1, 2021, and 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 upon on which occurs Landlord's Work (as described in Section 14 below) is substantially completed ("Rental Commencement Date"). The Commencement Date of the Lease shall be thirty (30) days after the Premises are substantially complete. Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be evidenced when (a) final inspection is approved by the date City of Carlsbad and Tenant is legally permitted to occupy the Landlord’s Work and Base Premises for the conduct of its business; (b) all Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 systems are in good working order to support the operation of the Premises; and (items (ic) – (v) above being hereinafter referred to as the “Base Building Representations”) , with Tenant Improvements are complete excepting industry-standard punch-list items.
2.2.1 Notwithstanding 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 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 Scheduled Commencement Date set forth in the Demised Premises found Basic Lease Provisions, if for any reason Landlord cannot to be functioning will be repaired or replaced; two deliver possession of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications Premises 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true Tenant on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,said date, Landlord shall use commercially not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder or extend the term hereof, but in such case, Tenant shall not be obligated to pay rent or perform any other obligations of Tenant under the terms of this Lease, except as may be otherwise provided in this Lease, until possession of the Premises is delivered to Tenant. If, however, Landlord shall not have delivered possession of the Premises within sixty (60) days following said Scheduled Commencement Date for any reason, other than Tenants Delays as defined in the Work Letter attached hereto as Exhibit "D" and delays beyond the reasonable efforts control of Landlord, Tenant may, at Tenant's option, by notice in writing to Substantially Complete the above modifications Landlord within ten (10) days thereafter, advise Landlord of Tenant's intent to cancel this Lease. Within ten (10) days after its receipt of such notice, Landlord shall submit to Tenant a statement of all costs and expenses incurred or irrevocably committed by Landlord for non-standard improvements to the Building’s HVAC system on Premises up to the date of Landlord's receipt of Tenant's notice of intent to cancel. This Lease shall thereafter be cancelled, and the parties shall be discharged from all obligations hereunder, if and only if Tenant reimburses Landlord for all such costs and expenses as stated in Landlord's notice within ten (10) days after Tenant's receipt thereof, and Landlord shall thereupon return any money previously deposited by Tenant. If such written notice of intent to cancel by Tenant is not timely received by Landlord, or Tenant's reimbursement for such costs and expenses is not timely received by Landlord, as aforesaid, then in either such event Tenant's right to cancel this Lease hereunder shall terminate and be of no further force or effect.
2.2.2 Possession of the premises shall be deemed delivered to Tenant when (1) the improvements to be provided by Landlord under this Lease are substantially completed, (2) the Building Utilities are ready for use in the Premises, and (3) Tenant has reasonable access to the Premises.
2.2.3 If Tenant occupies the Premises prior to December 1said Commencement Date (other than to install and/or store furniture and equipment), 2021such occupancy shall be subject to all provisions of this Lease, such occupancy shall not change the termination date, and Tenant shall pay rent for such occupancy.
Appears in 1 contract
Sources: Office Building Lease (Convera Corp)
Commencement Date. The Commencement Date of this Lease shall be the later of (ai) December 1, 2021, and (b) the date upon which occurs the Substantial Completion full execution of the Base Building Work Initial Mortgagee SNDA (subject to the penultimate sentence of this paragraph below) and Landlord’s Work as defined in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with LawSection 23.01), (ii) full execution of the Demised Premises will be free from asbestos Initial Condominium Recognition and other Hazardous Materials Attornment Agreement (as defined in violation of existing LawSection 23.01), and (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, Substantial Completion Date (iv) the Common Areas will be as defined 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”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 shall occur once no longer be conditioned upon the Landlord’s Work is Substantially Completed even though full execution of the Base Building Work is not Substantially Completed Initial Mortgagee SNDA and/or the Initial Condominium Recognition and Attornment Agreement, as long applicable, pursuant to subclauses (i) and/or (ii) above, as the Base Building Representations are true on applicable, and Tenant shall be deemed to have waived such requirement for all purposes of this Lease. Promptly following the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,Date, Landlord shall use commercially reasonable efforts deliver to Substantially Complete Tenant a Confirmation of Lease Terms and Dates substantially in the above modifications form attached hereto as Exhibit C, and Tenant shall have ten (10) business days thereafter to execute and remit the 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 Commencement Date, the Rent Commencement Date, the Expiration Date as determined pursuant to the Buildingterms of this Lease, or Landlord’s HVAC system on or prior to December 1, 2021Tenant’s obligations under this Lease.
Appears in 1 contract
Sources: Office Lease (Schrodinger, Inc.)
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject 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 Delaysfollowing provisions, then the Commencement Date shall be the earlier of the date on which Tenant occupies the Landlord’s Work and Base Building Representations would have been Substantially CompletedPremises for business, as reasonably estimated by Landlordor the date on which preparation of the Premises in accordance with Tenant's Plans is substantially complete. For the purposes of this Agreement, without the Tenant Delays. Notwithstanding anything Premises shall be deemed "substantially complete" upon the issuance of a certificate of occupancy or temporary certificate of occupancy with respect to the contrary contained herein, Landlord represents Premises. The Premises shall be conclusively presumed to Tenant that be delivered and accepted in full compliance with this Agreement on the Commencement Date and date, except for defects of which Tenant gives Landlord written notice with reasonable specificity within ten (10) business days after the Commencement Date. If Landlord shall be delayed in substantially completing the Premises as part a result of:
A. Tenant's failure to furnish when due Tenant's Plans, approvals of quotations or revisions of Tenant's Plans; or
B. Tenant's failure to file promptly the Base 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, approved Tenant's Plans and the Demised Premises will be demised, broom clean, mechanical plans and specifications provided for in compliance with Law, (ii) the Demised Premises will be free from asbestos and other Hazardous Materials Article II hereof; or
C. Extra Work; or
D. Tenant's changes in violation Tenant's Plans subsequent to approval; or
E. The performance or completion 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 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 work in the Demised Premises found not to be functioning will be repaired by Tenant or replacedby a person, firm or corporation employed by Tenant; two or
F. Any other act or omission caused by or on behalf of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) aboveTenant, including the above modifications to the Building’s HVAC systemincluding, collectivelywithout limitation, the “Base Building Work”). Notwithstanding the foregoing, breach by Tenant of its obligations under this Agreement; then Landlord shall not be responsible for any such delays and the Commencement Date shall occur once be accelerated by the number of days of such delay. In addition, Tenant shall reimburse Landlord for any and all expenses, losses, costs and damages suffered by Landlord and caused by such delay. EXHIBIT "C" ----------- LETTER AGREEMENT AS TO TERM AND PREMISES Lakeside Commons Partners ("Landlord’s Work is Substantially Completed even though ") and American Schools of Professional Psychology, Inc., an Illinois corporation ("Tenant"), do each hereby agree and certify to the Base Building Work is not Substantially Completed as long as other that the Base Building Representations are true Term of that certain Tenancy Agreement between Landlord and Tenant dated December 4, 1992, commenced February 1, 1993 and will expire on the Commencement Date 31st day of August, 2003, unless extended or sooner terminated as may be provided in the Agreement. Tenant hereby acknowledges that it has accepted delivery of the Premises in "substantially complete" condition as defined in the Agreement, and that said Premises are in full compliance with all requirements of the Agreement, except for defects of which Tenant gives Landlord has commenced written notice with reasonable specificity within ten (10) business days from the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etccommencement date referenced above.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Standard Tenancy Agreement (Argosy Education Group Inc)
Commencement Date. (A) The Commencement Date Term of this Lease shall be the later of (a) December 1, 2021, and (b) commence on the date upon 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 occurs the Substantial Completion Landlord may be obligated to complete ("punch list items"). The taking of possession of the Base Building Premises by Tenant shall be deemed an acceptance of the Premises and an acknowledgment that Landlord's Work has been substantially completed, but Landlord shall thereafter complete the punch list items.
(subject B) If Tenant takes possession of the Premises prior to the penultimate sentence 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 this paragraph below) and Landlord’s Work in accordance with Law. If possession, but the Substantial Completion Term of the Base Building Representations and Lease shall not be affected thereby.
(C) In the event that substantial completion of Landlord’s 's Work is delayed by Tenant Delaysreason of delays caused or occasioned by Tenant, then at Landlord's option the Commencement Date Term of this Lease shall commence on the date that this Lease would have commenced had not the completion of Landlord's Work been so delayed by Tenant (or as reasonably determined by Landlord) or such occurrence shall constitute a default on the part of Tenant hereunder entitling Landlord to exercise all rights and remedies provided for herein in the event of Tenant's default.
(D) Landlord's Work shall be the date the Landlord’s Work and Base Building Representations would deemed to have been Substantially Completedsubstantially completed when the Premises may be lawfully occupied and the heating, as reasonably estimated by ventilation, air conditioning, mechanical and elevator systems serving the Premises are operable.
(E) Tenant shall, upon the demand of Landlord, without promptly execute, acknowledge and deliver to Landlord an instrument substantially similar to that annexed hereto as Exhibit E, confirming the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date dates of commencement and as part expiration of the Base Building Work at Landlord’s cost (Term of this Lease and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos and such 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 matters 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 are set forth on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.Exhibit E.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1As herein used, 2021the phrase “commencement date” shall mean the earlier of: (i) the day Sublessee opens for business in the demised premises, or (ii) ninety (90) days after Sublessor has delivered to Sublessee possession of the demised premises as same are to be substantially completed by Sublessor and ready for occupancy, as in (b) below. The anticipated delivery date is within six (6) months of a fully executed sublease agreement. Sublessee shall not be required to accept delivery between 11-01-00 and 01-31-01. Should Sublessee not receive possession by 01-31-01, Sublessee at its option may terminate this sublease agreement by notice to Sublessor at any time prior to delivery of possession of the demised premises to Sublessee. Notwithstanding the above, Sublessor shall give Sublessee at least sixty (60) days advance written notice of its anticipated delivery date, so that Sublessee might plan accordingly.
(b) Possession of the demised premises shall not be deemed to have been given to Sublessee unless the demised premises are ready for the installation of Sublessee’s fixtures and finishing work by Sublessee, and are free of any violation of laws, ordinances, regulations and building restrictions relating to the possession or use of or construction upon the demised premises. Sublessor’s work is listed on Exhibit “B”, attached hereto and made a part hereof.
(c) Prior to the date on which possession is delivered to Sublessee as aforesaid, Sublessee shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and equipment, and receiving merchandise and other property, provided that it does not unreasonably interfere with Sublessor’s construction activities. 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 schedule entitled Description of Sublessee’s Work and attached hereto as Exhibit “C” and made a part hereof.
(d) From the date upon which occurs the Substantial Completion demised premises are delivered to Sublessee for its work until the commencement date of the Base Building Work sublease term, Sublessee shall observe and perform all of its obligations under this Sublease (subject except its obligation to operate and to pay minimum rent, percentage rent, its pro rata share of maintenance costs, provided for in Section 16 hereof, its pro rata share of real estate taxes provided for in Section 28 hereof and its prorata share of insurance provided for in Section 29 hereof). In the penultimate sentence of this paragraph belowevent Sublessee fails to open for business within ninety (90) and Landlord’s Work in accordance with Law. If days after the Substantial Completion date possession of the Base Building Representations demised premises has been delivered to Sublessee, Sublessor, in addition to any and Landlord’s Work is delayed by Tenant Delaysall other available remedies, then the Commencement Date shall be the date the Landlord’s Work may require Sublessee to pay to Sublessor, in addition to all other rent and Base Building Representations would have been Substantially Completedcharges herein, as reasonably estimated by Landlordliquidated damages and not as a penalty, without the Tenant Delays. Notwithstanding anything an amount equal to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part one-one hundred eightieth (1/180) of the Base 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, 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 annual minimum rent for each day such failure 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcopen continues.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Assignment and Assumption Agreement (Retail Ventures Inc)
Commencement Date. (i) The Commencement Date commencement date of this Lease with regard to the Mandatory Expansion Space shall be March 23, 1999, or such later date as Landlord shall be able to deliver the later Mandatory Expansion Space to Tenant (in either case, the "Mandatory Expansion Space Lease Commencement Date").
(ii) The term of this Lease with regard to the Mandatory Expansion Space shall commence on the date Landlord delivers possession of the Mandatory Expansion Space to Tenant (a"Mandatory Expansion Space Delivery Date"), but in no event shall the Mandatory Expansion Space Delivery Date be earlier than March 23, 1999, without Tenant's prior approval.
(iii) December 1The lease termination date with respect to the Mandatory Expansion Space will be the same as the Lease Expiration Date for the Initial Demised Premises. The Corporate Advisory Board Company Lease June 23, 20211998 Final (C.) Conditions of the Leasing of the Mandatory Expansion Space by Tenant. --------------------------------------------------------------------- Tenant shall lease the Mandatory Expansion Space from Landlord subject to and upon the following conditions, and where not in conflict with the following, on the same terms and conditions as the Initial Demised Premises:
(bi) Tenant shall accept the date upon which occurs the Substantial Completion Mandatory Expansion Space in "AS IS" condition, without Landlord being required to undertake any demolition, removals, alterations, improvements, decorations, repairs or modifications of the Base Building Work (subject Mandatory Expansion Space. This provision shall not in any way affect any repair and maintenance obligations of Landlord hereunder with respect to the penultimate sentence Mandatory Expansion Space, if any.
(ii) Tenant shall pay to Landlord, as Basic Annual Rent for the Mandatory Expansion Space ("Mandatory Expansion Space Rent") an amount equal to the product of this paragraph belowthe number of square feet of rentable area attributable to the Mandatory Expansion Space, multiplied by the then-applicable per-square-foot Basic Annual Rent attributable to the Initial Demised Premises in effect for each Lease Year of the remainder of the term, beginning with the Lease Year in which the Mandatory Expansion Space Rent Commencement Date (as hereinafter defined) occurs and Landlord’s Work further, to pay that Mandatory Expansion Space Rent in equal monthly installments to Landlord with the Basic Monthly Rent paid for the Initial Demised Premises.
(iii) Tenant shall commence to pay Mandatory Expansion Space Rent, in advance, from and after three (3) months after the Mandatory Expansion Space Lease Commencement Date (the "Mandatory Expansion Space Rent Commencement Date").
(iv) Tenant shall commence to pay Adjustment Rent for the Mandatory Expansion Space from and after the Mandatory Expansion Space Rent Commencement Date, and the percentage of the Tenant's Operating Expense Share and the percentage of the Tenant's Real Estate Tax Share shall be increased to reflect the addition of the Mandatory Expansion Space to the Initial Demised Premises in accordance with Law. If the Substantial Completion calculation of such percentages set forth in Paragraph 5 of the Base Building Representations and Landlord’s Work is delayed by Tenant DelaysLease entitled "OPERATING EXPENSE INCREASES AND REAL ESTATE TAX ----------------------------------------------- ADJUSTMENTS", then such revised percentages to become effective as of the Mandatory -------------- Expansion Space Rent Commencement Date, with appropriate pro rata adjustments in Adjustment Rent being made in the Lease Year in which the Mandatory Expansion Space Rent Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcoccurs.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. 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 files or causes to be filed with the City in which the Premises are located (if required) and delivers to Tenant an architect's notice of substantial completion, or similar written notice that the Premises are substantially complete, (2) Tenant commences business operations in the Premises, or (3) a certificate of occupancy is issued for the Premises. Landlord shall arrange for the construction of certain Tenant Improvements (as defined in the Work Letter), if any, in accordance with and subject to the terms of the Work Letter attached hereto as EXHIBIT B. 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 the Premises and any necessary adjustments to Base Rent, rental adjustments, Tenant's Building Share or Tenant's Site Share as provided in Section 1.1 above, and (iii) Tenant's acceptance of the Premises. If the Premises are not Substantially Complete on the Estimated Commencement Date, this Lease shall remain in effect, Landlord shall not be the later of (a) December 1, 2021subject to any liability, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be delayed until the date the Landlord’s Work Premises are Substantially Complete. Tenant acknowledges that it has had an adequate opportunity to inspect and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything investigate all matters relevant to the contrary contained hereinPremises, using experts and other qualified professionals, and that Tenant has determined that the Premises are acceptable for Tenant's use. Tenant further acknowledges that, except to the limited extent, if any, specifically provided in this Lease, neither Landlord represents to Tenant that on nor any broker or agent has made any representations or warranties in connection with the Commencement Date and as part physical condition of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and their fitness for Tenant's use upon which ▇▇▇▇▇▇ has relied directly or indirectly for any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcpurpose.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Office Lease (Puma Technology Inc)
Commencement Date. (a) The Commencement Date term of this Lease and the estate hereby granted (the “Lease Term”) shall be the later of commence on (ai) December August 1, 20212007 for the 20th Floor Premises and the 21st Floor Premises (the “20th and 21st Floor Commencement Date”), and (bii) September 1, 2007 for the date upon which occurs 19th Floor Premises (the Substantial Completion “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 Base Building Work applicable Premises to Tenant on the applicable Commencement Date (subject each an “Original Delivery Date”). If Landlord fails to deliver possession of the penultimate sentence of this paragraph below) and applicable Premises on the applicable Commencement Date for any reason beyond Landlord’s Work in accordance with Law. If the Substantial Completion reasonable control, Landlord shall use reasonable efforts to deliver possession of the Base Building Representations applicable Premises to Tenant as soon thereafter as shall be reasonably possible and Landlord’s Work is delayed by Tenant Delays, then the such Commencement Date shall be deemed to be the date first (1st) day thereafter that actual possession is so delivered (provided that Landlord shall have given Tenant not less than ten (10) Operating Days prior notice of such revised delivery date) and, except as otherwise set forth in Section 3.1(b) through (f) below, the Landlordpostponement of the applicable Commencement Date shall be Tenant’s Work 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, except as otherwise set forth in Section 3.1(b) through (f) below), but in no event shall the 20th and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without 21st Floor Commencement Date be later than the Tenant Delays19th Floor Commencement Date. Notwithstanding anything The foregoing is intended to be “an express provision to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part contrary” under Section 223-a of the Base Building Work at Landlord’s cost New York Real Property Law or any successor statute of similar import.
(and not part of Landlord’s Capb) (i) If the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the 19th Floor Commencement Date shall occur once more than thirty (30) days after the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the 20th and 21st Floor Commencement Date (the “Outside Date”), which Outside Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the 20th Floor Rent Concession Period (hereinafter defined) and the 21st Floor Rent Concession Period (hereinafter defined) shall be increased by one (1) day for each day beyond the Outside Date that Landlord has commenced fails to deliver possession of the Base Building Work 19th Floor Premises.
(c) If a Commencement Date shall occur more than thirty (30) but within sixty (60) days (the “First Penalty Period”) after the applicable Original Delivery Date, which Original Delivery Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to such portion of the 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 Premises.
(d) 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 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 (1) day for each day during the Second Penalty Period that Landlord fails to deliver possession of such portion of the Premises.
(e) If a Commencement Date shall occur more than ninety (90) but within one hundred twenty (120) days (the “Third Penalty Period”) after the applicable Original Delivery Date, which Original Delivery Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to such portion of the Premises shall be increased by one and is working diligently one-half (1 1/2) days for each day during the Third Penalty Period that Landlord fails to Substantially Complete deliver possession of such portion of the Base Building Work. Subject Premises.
(f) If a Commencement Date shall occur more than one hundred twenty (120) days after the applicable Original Delivery Date (the “Fourth Penalty Period”), which Original Delivery Date shall be extended by reason of Force Majeure (but not by reason of a holdover by the then existing tenant therein), the Rent Concession Period applicable to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcsuch portion of the Premises shall be increased by two (2) days for each day during the Fourth Penalty Period that Landlord fails to deliver possession of such portion of the Premises.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease Agreement (Cowen Group, Inc.)
Commencement Date. The "Commencement Date of this Lease Date" shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion Landlord's Work (as defined in EXHIBIT C) is Substantially Complete (as defined in EXHIBIT C), provided, however, that if as part of the Base Building Work Landlord's Work, Landlord has not on or before March 15, 2000 (subject to the penultimate sentence Tenant Delays) laid down a sufficient amount of this paragraph belowcarpeting, in Landlord's reasonable judgment, to enable Tenant to commence Tenant's Work (as defined in EXHIBIT C) and Landlord’s Work in accordance with Law. If to prosecute such work continuously to completion on or before April 1, 2000 (the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays"Delivery Date"), then the Commencement Date shall be no earlier than May 1, 2000. Occupancy of the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated Premises by Landlord, without the Tenant Delays. Notwithstanding anything prior to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date shall be at Tenant's sole risk and as part deemed pursuant to, and subject to, all of the Base Building Work at Landlord’s cost (terms and not part provisions of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) abovethis Lease, including the above modifications 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 EXHIBIT C hereto, Tenant shall not be entitled to take occupancy of the Premises or any portion thereof prior to the Building’s HVAC systemdate it receives notice from Landlord that Landlord's Work is Substantially Complete. Subject to Force Majeure and Tenant Delays, collectivelyLandlord will use all reasonable and diligent efforts to achieve Substantial Completion of Landlord's Work on or before the Delivery Date. Subject to Force Majeure, in the “Base Building Work”)event that the Commencement Date, as established hereby and pursuant to the operation of the provisions of EXHIBIT C regarding Tenant Delays, occurs after the Delivery Date, Tenant's Rent (as defined in Section 1.5 below) hereunder shall abat▇ ▇▇ one (1) day for each day that the Commencement Date follows the Delivery Date. Notwithstanding the foregoing, in the Commencement Date event Substantial Completion shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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 have occurred on or prior to December 1that day which is six (6) months after the execution hereof, 2021subject to an additional period of up to three (3) months if Substantial Completion is delayed by the occurrence of one or more events of Force Majeure (the "Outside Delivery Date"), Tenant shall be permitted to terminate this Lease by written notice given to Landlord within ten (10) days after the Outside Delivery Date. If such notice is not so given, Tenant's right to so terminate this Lease shall be deemed to have been waived.
Appears in 1 contract
Commencement Date. This Lease shall be effective and in full force upon execution by the parties hereto. The Lease Term begins and the first Rent is due on the "Commencement Date" which shall be the earlier 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, or (ii) the date Tenant opens for business in the Premises; however, Tenant shall otherwise comply with the terms hereof as of the date the Premises are available to Tenant ready for 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 prior to receipt by Tenant of approval of Tenant's Working Drawings as provided in the Handbook). Tenant's failure to commence the Tenant's Work by the date which is thirty (30) days 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 be cooperate with Landlord to effect a joint opening of the later of (a) December 1, 2021Shopping Center, and (b) in connection therewith, Landlord shall give notice to Tenant of the "Grand Opening Date" of the Shopping Center on the date upon which occurs the Substantial Completion of the Base Building Work (subject Premises are delivered by Landlord to Tenant and, if such Grand Opening Date shall be a date subsequent to the penultimate sentence date set forth in clause (i) of this paragraph below) 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’s Work , and such Grand Opening Date in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then 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 the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything which is one hundred twenty (120) days prior to the contrary contained herein, scheduled Grand Opening Date. Landlord represents shall not be responsible or liable to Tenant that on the or those claiming by, through or under Tenant for loss or damage caused by or resulting from a delayed Commencement Date and as part opening for business by reason of Landlord's efforts to effect a joint opening of the Base Building 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 at Landlord’s cost within three (and not part 3) years after the date of Landlord’s Cap) (i) this Lease. In the Demised event Landlord fails to so deliver the Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 this Lease is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etc.,terminated, Landlord shall use commercially reimburse Tenant for the actual, reasonable efforts costs incurred by Tenant in connection with the preparation of this Lease and the Premises, not to Substantially Complete 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 above modifications to the Building’s HVAC system on or prior to December 1, 2021Handbook of Tenant Information.
Appears in 1 contract
Sources: Lease (Harrys Farmers Market Inc)
Commencement Date. (A) The Commencement Date term of this Lease shall commence on the later to occur of (x) October 1, 2022 and (y) the date on which Landlord delivers vacant and exclusive possession of the Premises to Tenant with Landlord's Pre-Delivery Work having been Substantially Completed (the later of the dates that are described in clause (x) and clause (y) above being referred to herein as the "Commencement Date"). Subject to the terms of this Section 1.2, Landlord shall deliver to Tenant vacant and exclusive possession of the Premises on the Commencement Date. If Landlord does not deliver vacant and exclusive possession of the Premises to Tenant on or prior to October 1, 2022 with Landlord's Pre-Delivery Work having been Substantially Completed for any reason whatsoever, then Landlord shall have no liability to Tenant, and, subject to Section 6.2(B) hereof, Tenant shall have no right to terminate or rescind this Lease or reduce the Rental, in each case deriving from Landlord's failure to deliver vacant and exclusive possession of the Premises to Tenant on or prior to October 1, 2022. Landlord and Tenant intend that this Section 1.2 constitutes an "express provision to the contrary" for purposes of Section 223-a of the New York Real Property Law.
(B) The term "Pre-Delivery Work Substantial Completion Date" shall mean the date that Landlord's Pre-Delivery Work is Substantially Completed. Landlord shall give Tenant not less than ten (10) days' prior notice of the date on which Landlord estimates that the Pre-Delivery Work Substantial Completion Date will occur, with the understanding, however, that (x) Landlord shall not be in default if the Pre-Delivery Work Substantial Completion Date occurs later than the date that Landlord specifies in such notice to Tenant, provided that Landlord gives such notice to Tenant in good faith and (y) the Pre-Delivery Work Substantial Completion Date shall occur as otherwise provided in this Lease notwithstanding that the Pre-Delivery Work Substantial Completion Date occurs earlier or later than the date that Landlord specifies in any such notice, provided that Landlord gives such notice to Tenant in good faith.
(1) Tenant shall prepare and deliver plans for the Initial Alterations (the "Work Plans") suitable for bidding to a reputable general contractor or a reputable construction manager that is acceptable to Tenant (the "Work Contractor") in accordance with the terms of Article 7 hereof. The Work Plans shall be subject to Landlord's prior approval as provided in Section 7.3 hereof, and the Work Contractor shall be on the list of contractors designated by Landlord or subject to Landlord's approval, in each case as provided in Section 7.9(B) hereof. Landlord shall enter into a construction contract with the Work Contractor in form reasonably acceptable to Landlord and Tenant for the performance of the Initial Alterations, provided that the Work Contractor agrees to (x) enter into such a contract with Landlord in form reasonably acceptable to Landlord and Tenant and (y) commence and diligently perform the Initial Alterations in a timely manner (herein called an "Acceptable Construction Contract"). If (x) Tenant delivers to Landlord a request for Landlord's approval of a construction contract with the Work Contractor for the performance of the Initial Alterations as aforesaid, together with a copy of such construction contract, and (y) Landlord fails to respond to Tenant's aforesaid request on or prior to the fifteenth (15th) Business Day after the date that Tenant gives such request to Landlord, then Landlord shall be deemed to have approved such request, provided that such construction contract otherwise constitutes an Acceptable Construction Contract. Landlord acknowledges and agrees that the Work Contractor may act as a general contractor and/or a construction manager and the Acceptable Construction Contract may be a construction contract and/or a construction management contract. Tenant acknowledges that the Work Contractor's failure to perform the Initial Alterations in a manner that conforms with the terms of the Acceptable Construction Contract shall not impair the occurrence of the Commencement Date. Landlord shall bear all of the initial costs and expenses incurred by Landlord and/or billed by the Work Contractor pursuant to the terms and conditions of the Acceptable Construction Contract (herein called the "Work Costs"), including, but not limited to, the cost of labor, materials and filing plans for the Initial Alterations, provided, however, that in no event shall Landlord have any obligation to fund Work Costs in an amount that is greater than Eighteen Million Two Hundred Ninety-Seven Thousand Seven Hundred Seventy and 00/100 Dollars ($18,297,770.00) in the aggregate (such amount, the "Landlord Work Costs Contribution") under the Acceptable Construction Contract. Landlord makes no representation or warranty that the Landlord Work Costs Contribution is sufficient to pay the cost of the Initial Alterations. Tenant shall fund Work Costs due under the Acceptable Construction Contract after Landlord's payment of the Landlord Work Costs Contribution. If Landlord exercises Landlord's rights to consummate a Recapture Termination for Recapture Space that does not constitute the entire Premises in accordance with the terms of Section 17.3 hereof, then the Landlord Work Costs Contribution shall be adjusted to an amount equal to the product obtained by multiplying (x) One Hundred Fifty-Three and 47/100 Dollars ($153.47), by (y) the number of square feet of Rentable Area comprising the Premises initially demised hereunder (i.e., the ninth (9th) floor of the Building and the tenth (10th) floor of the Building) (other than such Recapture Space); provided, however, that (i) in no event shall Tenant have any obligation to make any repayment to Landlord to the extent that the amount of the Landlord Work Costs Contribution that Landlord has theretofore disbursed exceeds the amount of the Landlord Work Costs Contribution, as so redetermined and (ii) Landlord shall pay to the Work Contractor any outstanding amount that is the subject of an invoice that is due and payable to the Work Contractor at the time Landlord delivers a Recapture Sublease Notice or a Recapture Termination Notice to Tenant.
(2) Subject to the terms of Article 7 hereof, any material modification in the Work Plans (as approved pursuant to Section 7.3 hereof) requested by Tenant shall be made by means of a written authorization executed by Tenant (herein called a "Change Order"). Each Change Order will specify the scope of the work to be performed and authorization to proceed. Any proposed material modification of the Work Plans shall be submitted by Tenant simultaneously to Landlord and the Work Contractor, which modification shall be subject to Landlord's approval in accordance with Article 7 hereof. Tenant shall prepare and deliver a form of Change Order for such proposed modification to both Landlord and the Work Contractor. Unless a Change Order is authorized as prescribed above, such work shall not be performed. Tenant acknowledges that Tenant's submission of a Change Order shall not impair in any manner the occurrence of the Commencement Date, and in no event shall the incorporation of any Change Orders into the Initial Alterations (or the applicable portion thereof that is within the scope of the Acceptable Construction Contract) require Landlord to fund more than the Landlord Work Costs Contribution.
(3) Landlord shall cause the Work Contractor to commence the Initial Alterations with reasonable promptness following the date which is the later to occur of (x) the date on which Landlord has approved the Work Plans pursuant to the terms of this Section 1.2(C) and Article 7 hereof and (y) the Pre-Delivery Work Substantial Completion Date, and shall thereafter cause the Work Contractor to diligently perform the Initial Alterations until the Assignment Date (it being agreed that notwithstanding anything to the contrary stated herein, Landlord's aggregate liability to the Work Contractor under the Acceptable Construction Contract shall not exceed the amount of the Landlord Work Costs Contribution); provided, however, that Landlord shall not have any liability to Tenant under this Lease arising from any delays or deficiencies in the Work Contractor’s performance of the Initial Alterations, except to the extent arising from Landlord's willful misconduct or Landlord's failure to timely pay the Work Contractor the Work Costs that Landlord is required to pay pursuant to this Section 1.2(C). Tenant has advised Landlord that VVA Project Managers ("VVA") will act as project manager for the Initial Alterations. Landlord hereby agrees to reasonably cooperate with VVA and the Work Contractor to coordinate the performance of the Initial Alterations, and Landlord shall defer to VVA's instructions on matters relating to the Initial Alterations, except to the extent such instructions conflict with the rights or obligations of Landlord or Tenant under this Lease or under the Work Contract or applicable Requirements.
(4) Landlord and Tenant acknowledge that the portion of the Initial Alterations paid for by Landlord pursuant to this Section 1.2(C) shall constitute the property of Landlord, subject, nevertheless, to Tenant's rights to use such portion of the Initial Alterations as part of the Premises during the Term in accordance with the terms of this Lease. Tenant, during the Term, shall not remove such portion of the Initial Alterations that were paid for by Landlord pursuant to this Section 1.2(C) (or Alterations that replace such portion of the Initial Alterations) unless Tenant replaces such portion of the Initial Alterations, or such other Alterations, as the case may be, with Alterations that have a fair value that is equal to or greater than such portion of the Initial Alterations that were paid for by Landlord pursuant to this Section 1.2(C) (it being understood that such Alterations that Tenant performs to replace such portion of the Initial Alterations, or such other Alterations, as the case may be, shall constitute the property of Landlord as contemplated by this Section 1.2(C)(4)). Nothing contained in this Section 1.2(C)(4) limits Landlord's right to require Tenant to remove Specialty Alterations as provided in Section 7.8 hereof.
(5) Effective as of the date (the "Assignment Date") which is the earlier to occur of (x) the date which is the later of (a) December 1, 2021, the date on which Landlord has paid to the Work Contractor an aggregate amount equal to the Landlord Work Costs Contribution and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be or (y) the date date, if any, that Tenant requests that Landlord assign the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything Acceptable Construction Contract to the contrary contained hereinTenant, Landlord represents hereby assigns the Acceptable Construction Contract to Tenant that on and Tenant hereby assumes all obligations of Landlord thereunder (the Commencement Date and as part of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021."
Appears in 1 contract
Sources: Lease (Clear Secure, Inc.)
Commencement Date. 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 the later of (a) December 1, 2021subject to any liability, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be delayed until the date the Landlord’s Work Premises are Substantially Complete. Tenant has determined that the Premises are acceptable for Tenant's use and Base Building Representations would have been Substantially CompletedTenant acknowledges that, except as reasonably estimated by Landlordmay be expressl▇ ▇▇▇▇rwise provided in this Lease, without neither Landlord nor any broker or agent has made any representations or warranties in connection with the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part physical condition of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and their fitness for Tenant's use upon which Tenant has relied directly or indirectly for any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcpurpose.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Office Lease (Ipayment Inc)
Commencement Date. Tenant shall be liable to Landlord for the payment of Rent and any other payment as set forth in the Lease. The “Commencement Date of this Date” under the Lease shall be five (5) business days after the later of (a1) December date on which the Improvements and Tenant Improvements are Substantially Completed and (2) May 1, 20212008; provided, and (b) however, in the date upon which occurs the event Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) Improvements and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work any Tenant Improvements is delayed by due to Tenant Delays, then for purposes of the payment Rent and any other payment required to be made by Tenant pursuant to the Lease, the Commencement Date shall be that date five (5) business days after the date on which the Landlord’s Work and Base Building Representations Improvements would have been Substantially Completed, as reasonably estimated by Landlord, without Completed but for the occurrence of such Tenant Delays. Notwithstanding anything to If the contrary contained hereinImprovements are not Substantially Completed but are partially ready for occupancy, Landlord represents to Tenant that on may, but need not, occupy the Commencement Date and as part portion of the Base 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 leaksthat is ready for occupancy, and the Demised Premises will be demised, broom cleanprovided such partial occupancy is permitted by applicable law, and in compliance with Lawthe event of such partial occupancy (other than occupancy necessary to complete the Tenant Improvements), (ii) Tenant shall pay to Landlord pro rata Rent based upon the Demised area of the Premises will be free from asbestos so occupied by Tenant. Such obligation to pay Rent on a proportionate basis shall commence on the date on which Tenant first occupies and other Hazardous Materials in violation takes possession of existing Law, (iii) there will be a valid temporary or permanent Certificate any portion of Occupancy permitting the Permitted Use, (iv) the Common Areas will be in good working orderPremises, and (v) shall continue through the Building Systems serving Commencement Date. Tenant’s right to so occupy and utilize a portion of the Demised Premises will shall nevertheless be in good working order (items (i) – (v) above being hereinafter referred subject to as the “Base Building Representations”) , with the following modifications to the BuildingLandlord’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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably ablereasonable approval, and throughout such partial occupancy, Tenant shall fully cooperate with Landlord to facilitate Landlord’s Substantial Completion of any heat pumps in the Demised Premises found not to be functioning will be repaired remaining or replaced; two outstanding Improvements without any interference. If Tenant occupies any portion of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications Premises prior to the Building’s HVAC system, collectivelySubstantial Completion thereof, the “Base Building Work”). Notwithstanding provisions of the foregoingLease shall apply to such occupancy or use of the Premises by Tenant, except that the Term of the Lease shall not commence until the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcDate.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Office Facility Lease (I Trax Inc)
Commencement Date. (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 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) December 1substantial completion of Landlord's Work, 2021, and (b) the date upon which occurs the Substantial Completion first day of the Base Building Work Delivery Period and (subject to c) the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawFinal Delivery Date. If the Substantial Completion Time is of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then essence regarding all dates set forth in this Section 3(a). Landlord shall obtain a certificate of occupancy for the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and demised premises as part of the Base 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, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building 's Work”). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.
Appears in 1 contract
Sources: Lease (Retail Ventures Inc)
Commencement Date. The Commencement Date commencement date of this Lease Sublease (the “Commencement Date”) shall be the later date on which all of the following conditions have occurred: (a) December 1, 2021, the full execution and delivery of this Sublease or a copy thereof to Sublandlord and Subtenant or their respective attorneys; (b) the date upon which occurs Master Landlord consents in writing to this Sublease substantially in the Substantial Completion of 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 Base Building Work Sublease Premises to Subtenant vacant (subject to the penultimate sentence 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 paragraph below) Sublease and receipt of the executed Master Landlord’s Work Consent, in accordance with Law. If vacant (subject to the Substantial Completion 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 Building Representations Rent and LandlordAdditional 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 delayed by Tenant Delays, then delivered to Subtenant as described above is referred to herein as the “Delivery Date.” Sublandlord and Subtenant shall enter into a Commencement Date Agreement substantially in the form of Exhibit C attached hereto confirming the Commencement Date promptly following the Commencement Date, provided that any failure of the parties to execute such written agreement shall be not affect the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on validity of the Commencement Date and as part of the Base 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, 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 established 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcaforesaid.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Sublease (Hudson Holding Corp)
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject 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 Delayslimitations hereafter set forth, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything last to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part occur of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) that date which is 31 days after August 1, 1994 (such date as it may be extended pursuant to the Demised Premises and Building Structure will be structurally sound and free from leaksterms of this Lease being the "Construction Completion Date"), and the Demised Premises will be demised, broom clean, and in compliance with Law, or (ii) the Demised day which is 30 days after the date on which the Premises will be free from asbestos and other Hazardous Materials are "ready for occupancy" as provided in violation Section 4.2. The Tenant shall, upon demand of existing Lawthe Landlord, (iii) there will be execute a valid temporary or permanent Certificate of Occupancy permitting certificate confirming the Permitted Use, (iv) the Common Areas will be Commencement Date as it is determined 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”) , accordance with the following modifications provisions of this Section 4.1. Landlord shall allow Tenant to enter 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 Premises on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 Substantial Completion Date (as determined by Landlord) for purposes of Tenant setting up its work stations and where reasonably able, equipment and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two performing trial runs of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)its testing and manufacturing equipment. Notwithstanding the foregoing, that the Commencement Date shall not occur once until a subsequent date, Tenant shall, from and after the Landlord’s Work is Substantially Completed even though date of such entry, be bound by the Base Building Work is not Substantially Completed as long as terms, covenants, provisions and agreements contained in the Base Building Representations are true on 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 Landlord has commenced Article V. Tenant shall also be responsible for all costs for utilities used and consumed in the Base Building 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 is working diligently Tenant shall permit Landlord to Substantially Complete continue to perform Landlord's Work in the Base Building WorkPremises. Subject 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 Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcconflicts between the Landlord's Work and the work being performed by Tenant.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Sublease (Genomic Solutions Inc)
Commencement Date. The April 1, 1997, unless the Commencement Date of this is changed or the Lease shall is terminated as provided herein. In the event that the Leased Premises cannot be the later of (a) December delivered to Tenant for occupancy on or before March 1, 20211997, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be thirty days after the later to occur of (A) Substantial Completion of the Leased Premises (as hereinafter defined in Section 9(e)), or (B) the date the Landlord’s Work Landlord has delivered possession of the Leased Premises to Tenant, free of all tenants and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlordoccupants. Tenant may occupy the Leased Premises for the 30-day period prior to the Commencement Date, without any obligation to pay any Base Rent hereunder; provided, however, that Tenant will otherwise be required throughout the Tenant Delays. Notwithstanding anything period of its occupancy prior to the contrary contained herein, Landlord represents Commencement Date to Tenant that perform all of its other duties and obligations under this Lease. The Term of this Lease shall commence on the Commencement Date and and, unless extended or sooner terminated as part hereinafter provided, shall end on the Termination Date, as such dates are respectively defined herein. Tenant may elect to accept delivery of a portion of the Base Building Work at Landlord’s cost Leased Premises when such portion is Substantially Complete (and not part as that term is defined in Section 9(e)) without accepting delivery of Landlord’s Cap) (i) all of the Demised Premises and Building Structure will be structurally sound and free from leaksLeased Premises, and the Demised Premises Commencement Date for such portion shall be deemed the date of such acceptance of all of the Leased Premises; provided, however, that if Tenant elects to so accept delivery of a portion of the Leased Premises, then commencing on the date which is 30 days after such acceptance, it will be demisedobligated to pay Base Rent on the occupied portion of the Leased Premises in an amount equal to the Base Rent specified in Exhibit B to the Lease, broom cleanmultiplied by a fraction, having as its numerator the number of rentable square feet contained within the portion of the Leased Premises so occupied by Tenant, and in compliance with Law, (ii) having as its denominator the Demised Premises will be free from asbestos and other Hazardous Materials in violation number of existing Law, (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting rentable square feet contained within 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcentire Leased Premises.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The “Commencement Date Date” of this the Lease Term shall be upon Landlord’s Substantial Completion of Landlord’s Improvement Work. As used herein, the later term “Substantial Completion” shall mean that the Leased Premises are (i) completed in accordance with the Final Approved Plans and Specifications (which shall be evidenced by the Temporary Certificate of Occupancy, which permits the conduct of Tenant’s Permitted Use or if Tenant is the cause of a Certificate of Occupancy not being issued, the completion of Landlord’s Improvement Work for the Temporary Certificate of Occupancy is confirmed by a Certificate of Substantial Completion provided by the Project Architect); (aii) December 1, 2021, free from any and all mechanics’ lien claims arising out of all work in connection therewith (other than claims filed as a result of bona fide disputes between Northern Builders and its subcontractors or material suppliers which Northern Builders is diligently contesting and which Landlord indemnifies and holds Tenant harmless from and against any such mechanics’ lien claims); and (biii) sufficiently completed and free from construction defects so that Tenant is able to occupy the Leased Premises for the Permitted Use (notwithstanding Punch List Items). “Punch List Items” means uncompleted or improperly completed items of the Landlord Improvement Work or the Leased Premises which in the aggregate do not materially interfere with Tenant’s Permitted Use and occupancy of the Leased Premises for the conduct of the Permitted Use and which Landlord will have completed no later than thirty (30) days after the Commencement Date. Landlord acknowledges that Tenant is relocating its business operations to the Premises from its current location at ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ (“Existing Space”), that Tenant’s lease of the Existing Space is expiring and that the Tenant needs to vacate and deliver possession of the Existing Space as soon as possible. In the event that Tenant fails to deliver possession by the date upon which occurs 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 Substantial Completion of Landlord’s Improvement Work is not achieved by the Outside Date, then Tenant shall be entitled to one (1) day abatement of Base Building Work Rental for every one (subject 1) day after the Outside Date until Substantial Completion. Landlord shall notify Tenant twenty (20) days prior to the penultimate sentence date it anticipates the Improvements will be Substantially Completed. In the event that there is a dispute as to whether or not the Improvements are Substantially Completed, the dispute shall be resolved by the Project Architect who prepared the Approved Plans and Specifications. Lessee’s acceptance in writing of this paragraph below) and Landlord’s Work the Improvements shall be deemed conclusively to establish that the Improvements have been Substantially Completed in accordance with Law. If the Substantial Completion of the Base Building Representations Final Approved Plans and Landlord’s Work is delayed Specifications, except for any Punch List Items noted by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)latent defects. Notwithstanding the foregoing, as promptly as practicable following the Commencement Date date Tenant takes possession, Landlord and Tenant shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on enter into an appropriate amendment to this Lease to document the Commencement Date and Landlord has commenced expiration date of the Base Building Work and is working diligently to Substantially Complete Lease Term of the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcLease.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The Commencement Date of this Lease shall be the later of (a) December 1, 2021, and (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawIf Tenant Does Not Utilize Full Service Space Planner. If Tenant does not employ a Full Service Space Planner under the Substantial Completion terms of the Base Building Representations and Landlord’s Work is delayed by Tenant Delayssubparagraph 3.1(b), below, then the Commencement Date following provisions of this subparagraph 3.1
(a) shall be apply. The term of the date Lease under Section 1.5 of the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that Lease shall commence on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) earlier of: (i) thirty (30) days after the Demised Premises and Building Structure will be structurally sound and free from leaksCompletion Date (as the Completion Date is defined in Paragraph 1.3, and the Demised Premises will be demised, broom clean, and in compliance with Law, above); or (ii) the Demised Premises will be free from asbestos and other Hazardous Materials in violation date a certificate of existing Law, occupancy (iii) there will be a valid either temporary or permanent Certificate permanent) is issued for the Tenant Improvements, a final inspection approval is issued for the Tenant Improvements or the City of Occupancy permitting Calabasas otherwise allows Tenant's occupancy of 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 Tenant Improvements. Such date is herein referred to as the “Base Building Representations”) , with "Commencement Date" of the following modifications Lease. Landlord and Tenant recognize that the Commencement Date of the Lease could occur prior to the Building’s HVAC system: completion of construction of the boiler providing heat Tenant Improvements.
(b) If Tenant Utilizes a Full Service Space Planner. If Tenant on or before July 1, 1998 Engages a "Full Service Space Planner" approved by Landlord, which approval shall not be unreasonably withheld, to provide all of the Building will be replaced; architectural, engineering, construction supervision and design services for the 30 ton RTU providing cooling to Tenant Improvements, then the atrium will be replaced; term of the building management system (BMS) will be upgraded; Lease under Section 1.5 of the filters Lease shall commence on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 first to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found occur
(a) shall not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems apply. Such Commencement Date under this subparagraph 3.1
(two have been retrofitted alreadyb) (items shall occur: (i) – one (v1) day earlier than the defined Commencement Date, above, including for each day that a "Tenant Delay" as defined below causes a delay in the above modifications 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 Building’s HVAC systemTenant Improvements from the date that Landlord makes the Shell available to Tenant for the commencement of construction of the Tenant Improvements; and (iii) one (1) day earlier than the defined Commencement Date, collectivelyabove, for each day that the “Base Building Work”). Notwithstanding the foregoingFinal Plans and Specifications are completed after September 15, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, 1998; except that if Tenant Delay or 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 Engages by July 1, 2021.1998 H. H▇▇▇▇ ▇▇▇ociates as a Full Service Space Planner, then subparagraphs 3.1(b)(ii) and (iii) shall not apply. The following items causing a delay in construction of the Tenant Improvements or the Shell shall be a "Tenant Delay" under this subparagraph 3.1
Appears in 1 contract
Commencement Date. The Commencement Date (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 later occurrence of (a) December 1, 2021, and the Commencement Date.
(b) the date upon which occurs the Substantial Completion If Landlord does not tender possession of the Base Building Work (subject Premises or any portion thereof to the penultimate sentence of Tenant on any specified date, for any reason whatsoever, 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 Lease shall not be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, void or voidable as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained hereina result thereof, Landlord represents to shall not be liable for any damage thereby caused, such failure shall not affect any other obligations of Tenant that on hereunder (except as expressly provided in this Section, in the definition of the Commencement Date and as part in Section 4.3), and the Term shall not commence until Landlord tenders possession of the Base Building Work at Premises to Tenant. There shall be no postponement of the Commencement Date and/or the Rent Commencement Date for (i) any delay in the tender of possession to Tenant which results from any Tenant Delay or (ii) any delays by Landlord in the performance of any punch list items related to Landlord’s cost Work.
(c) Once the Rent Commencement Date has been determined, Landlord shall prepare and not part the parties shall join in a memorandum confirming the Commencement Date, the Rent Commencement Date, the Fixed Rent, the amount of Landlord’s Cap) (i) Contribution, Tenant’s Proportionate Share, the Demised Premises and Area of the Premises, the Area of the Building Structure will be structurally sound and free from leaks, and the Demised Premises will Expiration Date. Pending the execution of such memorandum, each of said items shall 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 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 specified in the Demised Premises found 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 be functioning will be repaired or replaced; two give Landlord written notice that Tenant contests Landlord’s determination of any information contained in the three cooling towers will be retrofitted with new water treatment systems memorandum within thirty (two have been retrofitted already30) (items (i) – (v) abovedays after Tenant receives such commencement notice, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoing, the Commencement Date Landlord shall occur once deliver Tenant an additional notice regarding the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on determination of the Commencement Date and Date, which notice must state “SECOND AND FINAL REQUEST” in 12 font bold print at the top of the first page of the notice. If Tenant fails to give Landlord has commenced written notice that Tenant contests Landlord’s determination within five (5) Business Days of receipt of the Base Building Work and is working diligently second notice, then Tenant shall be deemed to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etchave accepted such determination(s).,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Deed of Lease (FBR & Co.)
Commencement Date. (a) Landlord, at its cost and expense, will complete the Landlord's Work (as defined and described in Exhibit C) and obtain a Certificate of Occupancy for the Building, prior to the commencement of construction of the Improvements (as defined and described in Exhibit C) in the Premises [except for that portion of Landlord's Work related to the installation of certain variable air volume boxes in the Premises ("Landlord VAV Work, " as defined in Paragraph A.2 of Exhibit C), which the parties acknowledge will be completed by Landlord after Landlord's delivery of possession of the Premises to Tenant but prior to: (i) January 31, 2000, with respect to the third and fifth floor portions of the Premises, and (ii) with respect to the remaining portions of the Premises, within forty - five (45) days following the Tenant's commencement of construction with respect to each portion of the Premises [which commencement of construction shall be no earlier than the date by which Tenant has received written approval from Landlord of Final Plans (as defined in Exhibit C) for the Improvements (as defined in Exhibit C) for such portion of the Premises (which Final Plans shall contain all necessary details and specifications regarding such Landlord VAV Work)] (collectively, "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 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.
(b) Landlord shall substantially complete Landlord's Work (other than the Landlord VAV Work), obtain a Certificate of Occupancy for the Building and deliver possession of the Premises to Tenant in order to allow Tenant to complete the Improvements therein. On the date that Landlord substantially completes Landlord's Work (except for the Landlord VAV Work) and obtains such Certificate of Occupancy, Landlord shall deliver possession of the Premises to Tenant, and such date shall be deemed the "Delivery Date," as such term is used herein. The parties shall both execute and deliver (which delivery may be made initially by delivery of executed signature pages via facsimile to the parties' respective counsel) this Lease on such Delivery Date, which date is targeted to be January 7, 2000. However, if the Delivery Date is delayed beyond such targeted Delivery Date or any other date scheduled or targeted as the Delivery Date by mutual agreement of Landlord and Tenant, Landlord shall not have any liability whatsoever to Tenant on account of such failure to deliver possession of the applicable portion of the Premises to Tenant (except as expressly provided in this subparagraph (b)) and this Lease shall not be rendered void or voidable as a result of such delay. However, notwithstanding the foregoing, if Landlord does not deliver possession of the Premises to Tenant in accordance with the foregoing terms on the targeted Delivery Date, provided that such delay is not caused solely by an act or omission of Tenant or Tenant's employees, agents or contractors, Tenant shall receive a credit against its first occurring Base Rent obligations hereunder beginning on the Commencement Date in an amount equal to one (1) days' Base Rent (which amount will be determined by pro-rating one full monthly installment of Base Rent payable with respect to the Initial Portion of the Premises beginning on the Commencement Date on a per diem basis based upon a thirty-one (31) day month) for each day that Landlord's delivery of the Premises in accordance with the foregoing terms is delayed beyond such targeted Delivery Date. In addition, if Landlord fails to complete the Landlord VAV Work by the targeted VAV Completion Dates set forth in subparagraph (a) above, provided that such delay is not caused solely by an act or omission of Tenant or Tenant's employees, agents or contractors, Tenant shall receive a credit against its first occurring Base Rent obligations hereunder with respect to that portion of the 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, Tenant 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).
(c) Upon the full execution and delivery of this Lease, Tenant shall take possession of the Premises and shall have the right to 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 later 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 (acollectively, "governmental authorities"), and the National Board of Fire Underwriters or any other body exercising similar functions (collectively, "Requirements") December 1, 2021applicable thereto, and (biii) the date upon 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 occurs the Substantial Completion approval shall not be unreasonably withheld, conditioned or delayed). At all times during performance of the Base Building Work 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 (subject 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 penultimate sentence Improvements, and 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 this paragraph belowbodily 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 Landlord’s Work 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 accordance connection with Law. If the Substantial Completion work and take all reasonable precautions for the safety of, and provide all reasonable protection to prevent damage, injury or loss to all employees on the work site and other persons who may be affected thereby, all the work and all the materials and equipment to be incorporated therein, and other property at the work site or adjacent thereto, such precautions to include without limitations the furnishings of guard rails and barricades and the securing of the Base Building Representations Premises. Immediately upon the completion of the Improvements: (i) Tenant shall remove and Landlord’s Work is delayed cause Tenant's contractors and any subcontractors to remove any and all debris, refuse, equipment, materials and personal property left on the Premises, in the Building, on the Land or any area adjacent thereto, and (ii) Tenant shall deliver to Landlord full and complete lien releases executed by all of Tenant's contractors and subcontractors and any other party providing services or materials with respect to the Improvements or the Premises. During Tenant's performance of the Improvements and Tenant's initial "move-in" into the Premises, Tenant Delayswill have exclusive use, then the at no additional cost to Tenant, of one (1) freight elevator or hoist and one (1) passenger elevator.
(1) The Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything earlier to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part occur of the Base 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 leaksMarch 1, 2000, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised date on which Tenant substantially completes the Improvements in the Initial Portion (as defined below) of the Premises will and such Initial Portion can be free from asbestos occupied for business operations (including the completion of other work and other Hazardous Materials in violation of existing Law, installations beyond the Improvements necessary for Tenant's business operations); (iii) there will be a valid temporary or permanent Certificate of Occupancy permitting the Permitted Use, (iv2) the Common Areas will Interim Commencement Date shall be in good working orderthe earlier to occur of: (i) June 1, 2000, and (vii) the Building Systems serving date on which Tenant substantially completes the Demised Premises will be in good working order Improvements with respect to an additional (items (iover and above the Initial Portion) – (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 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 full floor of the three cooling towers will Premises (the "Interim Portion" of the Premises) and such Interim Portion can be retrofitted with new water treatment systems occupied for business operations (two have been retrofitted alreadyincluding the completion of other work and installations beyond the Improvements necessary for Tenant's business operations) (items subject to further adjustment as set forth below in this subparagraph (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”d). Notwithstanding the foregoing, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.); and
Appears in 1 contract
Sources: Deed of Lease (Microstrategy Inc)
Commencement Date. The Commencement Date term of this Lease shall be the later of for ninety-six (a96) December months ("Lease Term"), unless sooner terminated as hereinafter provided. The Lease Term shall commence on January 1, 20212003 (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 (b) the date upon which occurs the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 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 defined in the Demised Premises found not to be functioning will be repaired Work Letter), or replaced; two of the three cooling towers will be retrofitted with new water treatment systems Force Majeure (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”as defined in Article 52). Notwithstanding the foregoing, the Commencement Date of the Lease shall occur once be extended on a day for day basis for each day of such a delay. In the event the Tenant Improvements (as defined in the Work Letter) on either the first or second floors of the Premises are Substantially Complete prior to the Scheduled Commencement Date, Tenant shall have the right to 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 's cost and expense, pursuant to the terms of the Work Letter; provided, however, that the completion of such work shall not be a condition to the commencement of the Lease. The first and second floors of the Premises shall be deemed to be "Substantially Complete" with respect to such floor on the earliest of the date on which: (1) Landlord or Tenant files or causes to be filed with the City of Milpitas (the "City"), 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 Completed even though substantially complete, (2) Tenant first occupies such floor of the Base Building Work 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 not Substantially Completed as long 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 Base Building Representations are true on "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 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 delaysdetermined, Tenant Delay or township delays shall execute a Commencement Date Memorandum in approving plansthe form attached hereto as Exhibit F acknowledging, issuing permitsamong other things, inspecting workthe (a) Commencement Date, etc(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 affect Tenant's liability hereunder.,, Landlord
1.1.3 Reference in this Lease to a "Lease Year" shall use commercially reasonable efforts to Substantially Complete mean each successive twelve month period commencing with the above modifications to the Building’s HVAC system on or prior to December 1, 2021Commencement Date.
Appears in 1 contract
Sources: Lease (Xicor Inc)
Commencement Date. (a) The Commencement Date of this Lease shall be the later of (a) December on or before April 1, 20212002. Tenant acknowledges that it has inspected and accepts the Premises, and specifically the buildings and improvements comprising the same, in their present condition as suitable for the purpose for which the Premises are leased. Taking of possession by Tenant shall be deemed conclusively to establish that said buildings and other improvements are in good and satisfactory condition as of when possession was taken and that Tenant bas determined that the Premises are suitable for Tenant's intended purposes. Landlord has made no warranties with respect to suitability and Tenant hereby expressly waives any implied warranty of same. Tenant further acknowledges that no representations as to the repair of the Premises, nor promises to alter, remodel or improve the Premises have been tirade by Landlord, unless such are expressly set forth in this lease. If this lease is executed before the Premises become vacant or otherwise available and ready for occupancy, or if any present tenant or occupant of the Premises holds over, and Landlord cannot acquire possession of the Premises prior to said Commencement Date, Landlord shall not be deemed to be in default hereunder. and Tenant agrees to accept possession of the Premises at such time as Landlord is able to tender the same, which date shall thenceforth be deemed the Commencement Date; and Landlord hereby waives payment of rent covering any period prior to the tendering of possession to Tenant hereunder. After the Commencement Date, Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of delivery of the Premises,
(b) In the date upon event this lease pertains to a building to be constructed and/or in respect of which occurs interior modifications arc to be made to the Substantial Completion Premises by Landlord, the provisions of this subparagraph B shall apply in lieu of the Base Building Work (subject to the penultimate sentence provisions of this paragraph below) subparagraph A above and Landlord’s Work in accordance with Law. If the Substantial Completion of the Base Building Representations and Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be the date upon which the Landlord’s Work buildings and Base Building Representations would other improvements erected and to be erected upon the Premises andior interior modifications to be completed by Landlord hereunder, as applicable, shall have been Substantially Completedsubstantially completed in accordance with the plan and specifications described on Exhibit “1I-2” attached hereto and incorporated herein by reference. Delays of any nature whatsoever attributable to the acts or omissions of Tenant or its employees, aments or contractors, shall not be cause for delay of the Commencement Date. Landlord shall notify Tenant in writing as soon as Landlord deems said buildings and other improvements to be completed and ready for occupancy as aforesaid. In the event that said buildings and other improvements have not in fact been substantially completed as aforesaid, Tenant shall notify Landlord in writing of its objections, Landlord shall have a reasonable time after delivery of such notice in which to take such corrective action as may be necessary, and shall notify Tenant in writing as soon as it deems such corrective action has been completed so that said buildings and other improvements are completed and ready for occupancy. Taking of possession by Tenant shall be deemed conclusively to establish that said buildings and other improvements have been completed in accordance with the plans and specifications and that the Premises are in good and satisfactory condition, as reasonably estimated of when possession was so taken. Tenant acknowledges that no representations as to the repair of the Premises have been made by Landlord, without the Tenant Delaysunless such are expressly set forth in this lease. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the After such Commencement Date Tenant shall, upon demand, execute and as part deliver to Landlord a letter of acceptance of delivery of the Base Building Work at Premises. In the event of any dispute as to substantial completion or work performed or required to be performed by Landlord’s cost (and not part , the certificate of Landlord’s Cap) (i) the Demised Premises and Building Structure will 's architect or general contractor shall be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in approving plans, issuing permits, inspecting work, etcconclusive.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The Commencement Date 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 later 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: (a1) December 1Landlord 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, 2021or 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 (bv) the date upon which occurs the Substantial Completion Tenant's acceptance of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work in accordance with LawPremises. If the Substantial Completion of Improvements are not Substantially Complete on the Base Building Representations Estimated Commencement Date as extended by "Force Majeure Delay" and Landlord’s "Tenant Delay," as those terms are defined in the Work is delayed by Tenant DelaysLetter, then this Lease shall remain in effect, Landlord shall not be subject to any liability, and the Commencement Date shall be delayed until the date the Landlord’s Work and Base Building Representations would have been Improvements are Substantially Completed, as reasonably estimated by Landlord, without the Tenant DelaysComplete. Notwithstanding anything to the contrary contained herein, Landlord represents if there is any delay in the Substantial Completion of the Improvements or in the occurrence of any of the other conditions precedent to Tenant that on the Commencement Date Date, and as part such delay is a result of Tenant Delay, then regardless of the Base Building Work at Landlord’s cost (and not part actual date of Landlord’s Cap) (i) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 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 Substantial Completion of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”). Notwithstanding the foregoingImprovements, the Commencement Date shall occur once be deemed to be the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on date 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, would have occurred if no Tenant Delay or township delays had occurred, as determined in approving plans, issuing permits, inspecting work, etcaccordance with Section 12 of the Work Letter.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease (Infonet Services Corp)
Commencement Date. The Commencement Date term of this Lease (“Lease Term”) shall be for the period specified in Paragraph 1.5 above, commencing on the later of (such later date being the “Commencement Date”): (A) August 1, 2018; or (B) the earlier of (i) the date that the Tenant Improvement Work is substantially completed or (ii) the date Tenant occupies the Premises (or any portion thereof) for the conduct of its business operations therein. Such improvements shall be deemed to be substantially completed upon the occurrence of the earlier of the following:
(a) December 1, 2021The 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 either the appropriate governmental approvals for occupancy of the Premises (which shall include, without limitation, a temporary certificate of occupancy or its equivalent) have been issued or all building permits issued with respect to such improvements have been signed off by the applicable building inspectors; or
(b) the The date upon on which occurs the Substantial Completion 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 Base Building Work following (subject each, a “Tenant Delay”): (i) fault or neglect of Tenant, its agents, contractors and/or subcontractors (including, without limitation, delays caused by work done on the Premises by Tenant, its agents, contractors and/or subcontractors); (ii) delays caused by change orders requested by Tenant or required because of any errors or omissions in plans submitted by Tenant (except to the penultimate sentence extent due to the fault or neglect of this paragraph belowLandlord); (iii) such work as Landlord is required to perform but cannot complete until Tenant performs necessary portions of construction work it has expressly elected or is expressly required to do, in each case within the timeframe that Tenant has been expressly provided to complete such construction work; and Landlord’s Work (iv) any event constituting a Tenant Delay as described in accordance with Law. If the Substantial Completion Improvement Agreement attached hereto as Exhibit C. Notwithstanding the foregoing, no Tenant Delay shall be deemed to have occurred unless and until Landlord shall have sent Tenant a reasonably-detailed notice of the Base Building Representations action, inaction or event that constitutes a Tenant Delay and Landlord’s Work is delayed Tenant shall not have cured the same within two (2) business days after Tenant receives such reasonably-detailed notice. If, pursuant to the express terms and conditions of Paragraph 3.1(b) above, the improvements to be constructed by Tenant DelaysLandlord are deemed to be substantially completed before such improvements are actually substantially completed, then Tenant acknowledges that: (x) the Commencement Date shall be deemed to have occurred, and therefore Tenant’s obligation to pay Rentals (subject to the conditional abatement of base Rent referred to in Paragraph 1.8 above) shall be deemed to have commenced on such earlier date, and not the date of actual completion of such improvements (but in no event prior to August 1, 2018); (y) the Landlord’s Work improvements to be constructed by Landlord shall be deemed to be substantially completed one (1) day earlier than the date of actual substantial completion for each day that actual completion is delayed by reason of a Tenant Delay; and Base Building Representations would have been Substantially Completed(z) as soon as possible following the actual Commencement Date, as reasonably estimated by Landlord, without Landlord shall provide to Tenant a reasonably-detailed statement of the number of days of Tenant Delays, and the conditional abatement of base Rent referred to in Paragraph 1.8 above shall be shortened by the same number of days. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on When the Commencement Date and as part Ending Date become ascertainable, Landlord and Tenant shall specify the same in writing, in the form of the Base Building Work at Landlordattached Exhibit D, which writing shall be deemed incorporated herein. Tenant’s cost failure to execute and deliver the letter attached hereto as Exhibit D within ten (and not part of Landlord’s Cap10) business days after Tenant receives written request from Landlord to do so (isubject to any legitimate disagreement by Tenant with the terms thereof, which both parties shall use reasonable efforts to resolve) the Demised Premises and Building Structure will be structurally sound and free from leaks, 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 shall be a valid temporary Default by Tenant hereunder. The expiration of the Lease Term or permanent Certificate sooner termination 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 this Lease is referred to herein as the “Base Building RepresentationsLease Termination.”) , 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the 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 Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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, 2021.
Appears in 1 contract
Sources: Net Lease Agreement (Calix, Inc)
Commencement Date. (a) The Commencement Date 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 later “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 (aA) December 1, 2021[***] and (B) the date that is [***] after the Anticipated Delivery Date, and (bii) [***] 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 upon which occurs 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 3.1(b) below). Landlord hereby agrees to use commercially reasonable efforts to cause the Commencement Date to occur prior to the Anticipated Delivery Date and Landlord shall keep Tenant reasonably apprised of any anticipated delay in the Substantial Completion of the Base Building Work (subject Work. The foregoing is intended to be “an express provision to the penultimate sentence contrary” under Section 223¬a of this paragraph below) and Landlord’s Work in accordance with Lawthe New York Real Property Law or any successor statute of similar import. If the Substantial Completion Tenant occupies all or any portion of the Base Building Representations Premises prior to the Commencement Date specified above for the normal operation of its business therein (and Landlordnot for the purpose of installing Tenant’s Work furniture, fixtures or equipment prior to the Commencement Date, if the same is delayed by Tenant Delayspermitted hereunder), then the Commencement Date shall be the treated as having occurred on such date the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on of occupancy.
(b) If the Commencement Date and as part does not occur on or before the date that is twelve (12) months following the later to occur of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Premises date hereof and Building Structure will be structurally sound and free from leaks, and the Demised Premises will be demised, broom clean, and in compliance with Law, (ii) the Demised Premises will be free from asbestos date on which the Plans and other Hazardous Materials Specifications are finalized and approved by Landlord and Tenant 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”) , accordance with the following modifications to terms of the Building’s HVAC system: the boiler providing heat to the Building will Base Work Letter (as such date shall be replaced; the 30 ton RTU providing cooling to the atrium will be replaced; the building management system extended on a day-for-day basis for Force Majeure (BMSbut in no event shall such Force Majeure extension exceed ninety (90) will be upgraded; the filters on the nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps days in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted alreadyaggregate) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectivelyand Tenant Delay, the “Base Building WorkOutside Date”), then Tenant, in Tenant’s sole discretion, shall have the right to terminate this Lease upon written notice (“Tenant’s Termination Notice”) delivered to Landlord within ten (10) days after the Outside Date, time being of the essence. Notwithstanding If Tenant does not deliver Tenant’s Termination Notice within the foregoingaforesaid ten (10) day period, then Tenant shall be deemed to waived such termination right. If Tenant exercises such termination right and Landlord does not deliver the Premises to Tenant within thirty (30) days after 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 occur once the Landlordnot be so terminated and Tenant’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date termination right under this Section 3.1(b) shall be void 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 of no further force or township delays in approving plans, issuing permits, inspecting work, etceffect.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Sources: Lease (Protara Therapeutics, Inc.)
Commencement Date. (a) As herein used, the phrase “commencement date” shall mean the earlier of: (i) the day Tenant opens for business in the demised premises, or (ii) one hundred twenty (120) days after Landlord has delivered to Tenant possession of the demised premises as same are to be substantially completed by Landlord and ready for occupancy, as in (b) below. Landlord agrees to deliver the demised premises to Tenant with Landlord’s Work (as set forth on Exhibit “B”, attached hereto and made a part hereof) completed between July 1, 2006 and October 15, 2006 (the “Delivery Period”). Landlord shall give Tenant notice (the “Estimated Delivery Notice”) no later than July 1, 2006 of the status of Landlord’s construction and the estimated date that Landlord shall deliver the Premises to Tenant with Landlord’s Work substantially completed (the “Estimated Delivery Date”). Landlord may, but is under no obligation, to revise the Estimated Delivery Date any time prior to thirty (30) days prior to the Estimated Delivery Date (the “Final Delivery Notice Date”), by which time Landlord shall have given Tenant a final notice (the “Final Delivery Notice”) of a firm delivery date (the “Final Delivery Date”) upon which the Landlord’s Work shall be substantially completed and the demised premises delivered to Tenant. Upon the sending of the Final Delivery Notice, Landlord shall have no further right to modify the Final Delivery Date. However, if Landlord has not delivered a Final Delivery Notice by the Final Delivery Notice Date, then the Estimated Delivery Notice shall be the Final Delivery Notice and the Estimated Delivery Date shall be the 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 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 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) December 1substantial completion of Landlord’s Work, 2021, and (b) the date upon which occurs the Substantial Completion first day of the Base Building Work Delivery Period and (subject to c) the penultimate sentence Final Delivery Date. Time is of the essence regarding all dates set forth in this paragraph below) and Section 3(a). Landlord shall obtain a certificate of occupancy or completion, permit or the local equivalent that is required for Landlord’s Work in accordance with Law. If at the Substantial Completion demised premises so that Tenant may obtain a building permit for Tenant’s Work and commence performance of the Base Building Representations same.
(b) Possession of the demised premises shall not be deemed to have been given to Tenant unless the demised premises are ready for the installation of Tenant’s fixtures and finishing work by Tenant, and are free of any violation of laws, ordinances, regulations and building restrictions relating to the possession or use of or construction upon the demised premises, and until Landlord has substantially completed Landlord’s Work. Tenant shall supply Landlord with Tenant’s prototypical plans and specifications, and Landlord shall prepare plans and specifications for the Premises at Landlord’s expense, for Tenant’s approval. All such Landlord’s Work is delayed by Tenant Delays, then the Commencement Date shall be done at Landlord’s expense and in compliance with all applicable federal, state and local laws, rules, regulations and code requirements. Landlord shall obtain a certificate of occupancy or completion, permit or the date the local equivalent that is required for Landlord’s Work and Base Building Representations would have been Substantially Completed, at the demised premises as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s CapWork.
(c) (i) Prior to the Demised Premises date on which possession is delivered to Tenant as aforesaid, Tenant shall have the right to enter the demised premises at its own risk rent-free for the purpose of preparing for its occupancy, installing fixtures and Building Structure will be structurally sound and free from leaksequipment, 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 Demised Premises will 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 schedule entitled Description of Tenant’s Work and attached hereto as Exhibit “C” and made a part hereof. All Tenant’s Work shall be demisedperformed lien free by Tenant, broom clean, in a good and workmanlike manner (employing materials of good quality) in compliance with Lawall governmental requirements. In the event a mechanic’s lien is filed against the demised premises or the Shopping Center on account of Tenant’s Work, Tenant shall discharge or bond off same within ten (ii10) days from the Demised Premises will be free from asbestos and other Hazardous Materials in violation filing thereof. If Tenant fails to discharge said lien, Landlord may bond off or pay same without inquiring into the validity or merits 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 ordersuch lien, and all sums so advanced shall be paid on demand by Tenant as additional rent.
(vd) From the Building Systems serving date upon which the Demised Premises will be in good working order (items (i) – (v) above being hereinafter referred demised premises are delivered to as Tenant for its work until 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 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 commencement date of the three cooling towers will be retrofitted with new water treatment systems lease term, Tenant shall observe and perform all of its obligations under this Lease (two have been retrofitted alreadyexcept Tenant’s obligation to operate and pay minimum rent, percentage rent and “Tenant’s Proportionate Share” (defined in Section 16(c) below) of “Maintenance Costs” (items defined and provided for in Section 16(b) hereof) “real estate taxes” (idefined and provided for in Section 28(b) – hereof) and insurance (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”provided for in Section 28 hereof). Notwithstanding In the foregoingevent 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, the Commencement Date shall occur once the Landlord’s Work is Substantially Completed even though the Base Building Work is not Substantially Completed as long as the Base Building Representations are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject , in addition to any Force Majeureand all other available remedies, manufacturer delivery delaysmay require Tenant to pay to Landlord, Tenant Delay or township delays in approving plansaddition to all other rent and charges herein, issuing permitsas liquidated damages and not as a penalty, inspecting work, etcan amount equal to one-three hundred sixty five thousandths (1/365) of the annual minimum rent for each day such failure to open continues.,, Landlord shall use commercially reasonable efforts to Substantially Complete the above modifications to the Building’s HVAC system on or prior to December 1, 2021.
Appears in 1 contract
Commencement Date. The commencement date for the Landlord Build Premises (the “Landlord Build Premises Commencement Date of this Lease Date”) shall be occur on the later of (a) December 1, 20212018, and or (b) subject to the date upon which occurs terms of Exhibit D hereto, sixty (60) days following the Substantial Completion of the Base Building Work (subject to the penultimate sentence of this paragraph below) and Landlord’s Work (as such terms are defined in accordance with Lawthe Work Letter attached as Exhibit D hereto), such sixty (60) day period being referred to herein as the “Tenant Build Out Period”) . If The commencement date for the Substantial Completion First Floor South Wing Premises (the “First Floor South Wing Premises Commencement Date”) shall occur on the earlier of (a) the date on which Tenant occupies the First Floor South Wing Premises and begins conducting business therein, or (b) December 1, 2018. The phrase “begins conducting business” (and other phrases of similar import) shall not include use of the Base Building Representations and Landlordapplicable portion of the Premises by Tenant solely for the storage, construction, staging or the construction or installation of Tenant’s Work is delayed by Tenant Delayspursuant to Exhibit D of this Lease. As used herein, then the term “Commencement Date Date” shall be mean the date on which both the Landlord’s Work and Base Building Representations would have been Substantially Completed, as reasonably estimated by Landlord, without the Tenant Delays. Notwithstanding anything to the contrary contained herein, Landlord represents to Tenant that on the First Floor South Wing Premises Commencement Date and as part of the Base Building Work at Landlord’s cost (and not part of Landlord’s Cap) (i) the Demised Landlord Build Premises and Building Structure will be structurally sound and free from leaks, 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 nine heat pumps serving the Demised Premises will be upgraded from MERV-8 to MERV-13 as and where reasonably able, and any heat pumps in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two Commencement Date have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)occurred. Notwithstanding the foregoing, if Tenant desires to begin conducting business in all or any part of the Commencement Date shall occur once First Floor South Wing Premises, the Landlord’s Work is Substantially Completed even though First Floor North Wing Premises, the Base Building Work is not Substantially Completed as long as Fifth Floor Premises, or the Base Building Representations Sixth Floor Premises after the same are true on the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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 ready for occupancy but prior to December 1, 20212018 (the applicable portion of the Premises being referred to herein as the “Early Occupancy Space”), then Tenant shall have the right to commence such business operations therein by providing written notice to Landlord prior to such use; provided, however, that (1) Tenant shall commence paying Rent hereunder; provided, however, that the Rent due hereunder shall be 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 agrees that 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 shall constitute the Commencement Date hereunder.
Appears in 1 contract
Sources: Lease Agreement (Cerus Corp)
Commencement Date. Landlord and Tenant shall use their best ----------------- efforts to complete the Building and the Initial Tenant Improvements in accordance with Exhibit B hereto on the date specified in Section 1(f) or as soon thereafter as practicable. The "Commencement Date Date" shall mean the date that the initial portion of the Premises described in Exhibit C, Section 2 (the "Initial Premises") are substantially completed and made available for Tenant's occupancy. It is presently estimated that the term of this Lease shall be the later of (a) December commence on July 1, 2021, and (b) the date upon which occurs the Substantial Completion 2000. The determination of the Base Building Work (subject Commencement Date with respect to the penultimate sentence Initial Premises shall depend on which contractor is selected to construct the Initial Tenant Improvements. If Tenant selects Landlord's shell and core contractor ("Landlord's Contractor"), Landlord shall cause the Commencement Date to occur by July 1, 2000. If Landlord's Contractor is the low bidder for construction of this paragraph below) and Landlord’s Work the Initial Tenant Improvements, in accordance with Law. If the Substantial Completion terms of the Base Building Representations and Landlord’s Work is delayed by Exhibit B, but Tenant Delayschooses another contractor, then the Commencement Date shall be deemed to occur on the date the Landlord’s Work and Base Building Representations that it otherwise would have occurred had Landlord's Contractor been Substantially Completed, as reasonably estimated by chosen to construct the Initial Tenant Improvements. If Landlord, without 's Contractor is not the low bidder and Tenant Delays. Notwithstanding anything to selects the contrary contained hereincontractor that is the low bidder, Landlord represents to Tenant that on shall cause the Commencement Date and as part to occur by September 1, 2000. All of the Base Building Work at Landlord’s cost (and not part of Landlord’s Capforegoing dates are subject to the delay provisions contained in Section 3(d) (i) below. The contractor so selected to construct the Demised Premises and Building Structure will Tenant Improvements shall be structurally sound and free from leaks, 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”) , "Tenant Improvement Contractor." The Commencement Date with the following modifications respect to the Building’s HVAC system: Initial Premises shall be deemed to occur on (A) the boiler providing heat later of(I) the completion date specified in the notice ("30 Day Notice") delivered to Tenant at least thirty (30) days prior to the Building will be replaced; date that the 30 ton RTU providing cooling to the atrium will be replaced; the building management system (BMS) will be upgraded; the filters on the nine heat pumps serving the Demised Initial Premises will be upgraded from MERV-8 completed for occupancy or (II) the date the entirety of the Initial Premises is in fact delivered to MERV-13 Tenant with all of Landlord's Work and the Initial Tenant Improvements substantially completed, or (B) such earlier date as and where reasonably ableLandlord would have been able to so deliver the entire Premises to Tenant but for Tenant Delay (defined below). Subject to Tenant Delay or other causes beyond Landlord's control, and any heat pumps Landlord shall use its best efforts to deliver the Premises to Tenant no later than the completion date specified in the Demised Premises found not to be functioning will be repaired or replaced; two of the three cooling towers will be retrofitted with new water treatment systems (two have been retrofitted already) (items (i) – (v) above, including the above modifications to the Building’s HVAC system, collectively, the “Base Building Work”)30 Day Notice. Notwithstanding the foregoing, the Commencement Date shall occur once be deemed to have occurred with respect to the Landlord’s Work Initial Premises on the date Tenant first occupies the Initial Premises for normal business operations, if such date is Substantially Completed even though earlier than the Base Building Work dates described above, provided that so long as Tenant is not Substantially Completed as long as in occupancy of the Base Building Representations are true on Initial Premises the Commencement Date and Landlord has commenced the Base Building Work and is working diligently to Substantially Complete the Base Building Work. Subject to any Force Majeure, manufacturer delivery delays, Tenant Delay or township delays in 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 not occur earlier than July 1, 2021.2000. The Commencement Date shall not be deemed to occur until the following conditions shall have been satisfied by Landlord:
Appears in 1 contract
Sources: Lease Agreement (Visio Corp)