Commencement Date. The term of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Lease.
Appears in 3 contracts
Samples: Office Lease (Vestin Group Inc), Office Lease (Vestin Group Inc), Office Lease (Vestin Group Inc)
Commencement Date. (a) The term “Commencement Date” shall be the later of this Lease shall commence on (i) September 1, 2011 or (ii) the date this Lease is executed (“Delivery Date”) that Lessor delivers the "Commencement Date"Premises to Lessee with all of the Base Building Improvements completed in compliance with Applicable Laws (as defined below) and approved by Lessee. Lessee shall end ten (10) years from the date the payment of receive a day for day rent commences as set forth in Section 4.1 of this Leasecredit for each day beyond September 1, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability 2011 that Lessor fails to deliver the Premises to Lessee with all the Base Building Improvements completed in compliance with Applicable Laws.
(b) If Lessee requests any changes to the Base Building Improvements, furnishes inaccurate or erroneous specifications or other information to Lessor or its contractors, or otherwise delays Lessor or Lessor’s contractors from completing the Base Building Improvements (any of the foregoing being referred to in this Lease as “Tenant on Delay”), then the Commencement Date shall be deemed to have occurred for all purposes, including Lessee’s obligation to pay rent, as of the date specified Lessor reasonably determines that it would have been able to deliver the Premises to Lessee but for the collective Tenant Delays. Should Lessor determine that the Commencement Date should be changed in Landlord's notice given pursuant to Section 3.2accordance with the foregoing, but no rent hereunder it shall so notify Lessee in writing. Lessor’s determination shall be payable hereunder with respect to any delay conclusive unless Lessee notifies Lessor in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Leasewriting, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional within five (5) year periodbusiness days thereafter, at the greater of the then current Basic Rent increased Lessee’s election to contest same by binding arbitration in accordance with the terms set forth below, and judgment on the arbitration award may be entered in any court having jurisdiction thereof. Pending the outcome of such arbitration proceedings, Lessee shall make timely payment of all rent due under this Lease or at based upon the then current fair market lease rental rate for Commencement Date set forth in the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written aforesaid notice prior to the end of the Term of its intention to renew this Leasefrom Lessor.
Appears in 2 contracts
Samples: Lease (Invitae Corp), Lease (Invitae Corp)
Commencement Date. The term of this Lease (“Term”) shall commence be thirty-nine (39) months commencing on the date this Lease is executed (the "“Commencement Date"”) that the Tenant Improvements (defined below) are substantially completed, and shall end ten ending thirty-nine (1039) years from the date the payment of rent commences as set forth in Section 4.1 of this Leasemonths thereafter, unless such Term is sooner terminated pursuant hereto (terminated, and subject to any options to further extend the "TERM")Term as permitted herein. Promptly following If Landlord cannot deliver possession of the Commencement DatePremises to Tenant on or before June 1, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This 2013, this Lease shall not be void, voidable void or subject to terminationvoidable, nor shall Landlord Landlord, or Landlord’s Agents be liable to Tenant for any loss or damagedamage resulting therefrom. In such event, resulting Tenant shall not be liable for any Rent until the date which is three (3) months from Landlord's inability to deliver the date Landlord delivers possession of the Premises to Tenant with the Tenant Improvements substantially completed. If, however, Landlord is unable deliver possession of the Premises to Tenant with the Tenant Improvements substantially completed by August 1, 2013, for any reason other than delays due to the fault of Tenant, then Tenant shall have the right to terminate this Lease by delivery of written notice to Landlord no later than August 15, 2013. For purposes of this Lease, the Tenant Improvements shall be deemed “substantially completed” on the date specified that Landlord’s general contractor has completed the Tenant Improvements as described in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior EXHIBIT D-1 subject only to the end completion of the Term of its intention to renew this Leaseminor punch-list items.
Appears in 2 contracts
Samples: Lease Agreement (Aerohive Networks, Inc), Lease Agreement (Aerohive Networks, Inc)
Commencement Date. The term Commencement Date shall be defined to mean the earliest to occur of the following:
(i) the date Tenant commences occupancy under this Lease of any portion of the Premises for the conduct of its business; or
(ii) the Estimated Commencement Date specified in section C.4. of the Information Sheet. If for any reason Landlord does not or cannot deliver possession of all or any portion of the Premises to Tenant by the Estimated Commencement Date, Landlord shall not be subject to any liability therefore, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder, provided that such delay does not exceed thirty (30) days from the Estimated Commencement Date, but in such case, Tenant shall commence on not be obligated to pay any Monthly Rent hereunder, until the date that Landlord delivers possession of the entire Premises to Tenant (which date shall then be deemed the Commencement Date). No such delay or adjustment in the Commencement Date shall alter the validity of this Lease is executed or the nature or term of the obligations of Tenant hereunder, nor shall any such delay or adjustment cause the expiration date of this Lease to be later than July 12, 2014. If for any reason Landlord does not deliver possession of all or any portion of the Premises to Tenant for a period exceeding thirty (30) days from the "Estimated Commencement Date") , Tenant shall be entitled to terminate this Lease with respect to that portion of the Premises not delivered, and its obligations under this Lease shall end ten (10) years from cease with respect to, such portion of the date the payment of rent commences Premises. Except as set forth in Section 4.1 the Work Letter with respect to the hanging conference room wall, if Landlord fails to deliver at least ninety percent (90%) of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following Premises by the Estimated Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") be entitled to terminate this Lease in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall its entirety. If Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability fails to deliver the Premises to Tenant on in its entirety within ninety (90) days after the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal optionEstimated Commencement Date, Tenant shall give Landlord a minimum of six (6) months written notice prior be entitled to the end of the Term of terminate this Lease in its intention to renew this Leaseentirety.
Appears in 2 contracts
Samples: Office Lease Agreement (Geron Corp), Office Lease Agreement (Geron Corp)
Commencement Date. (a) The term of this Lease shall be the period specified in Section "1.2" hereof as the "Lease Term". The "Rent Commencement Date" of this Lease shall commence on the date this Lease is executed earlier of (a) the "Commencement Date"opening for business or (b) and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior after the date when Landlord delivers the Building Pad to Tenant provided Landlord has substantially completed all other site work as set forth on Exhibit "L" by the end of such six (6) month period, unless Landlord is prevented by Tenant's failure to complete Tenant's Work as set forth on Exhibit "T", in which event Tenant shall commence paying rent at the end of such six (6) month period notwithstanding that Tenant may not have completed Tenant's Work or opened for business. Landlord will complete Landlord's Work when Tenant has completed such work to enable Landlord to complete its work. If Landlord's Work is not substantially complete by the end of the Term 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 provisions of its intention this Section 3.1 (a) and the failure to renew have the building completed shall not be an Event of Default, unless the Tenant's building is not completed by the date provided in Section 3.3(a) below,
(b) Upon the Rent Commencement Date, the Tenant shall (i) be obligated to commence payment of Minimum Rent, Additional Rent and all other charges required to be paid by the Tenant under this Lease, all of which shall be deemed to be additional rent and (ii) be required to perform all obligations required to be performed by the Tenant under the terms of the Lease (in addition to the obligations required to be performed by the Tenant prior to the Rent Commencement Date).
(c) As soon as may be convenient after the Rent Commencement Date has been determined, Landlord and Tenant agree to join with each other in the execution of a Commencement Certificate, in the form set forth on Exhibit "C". The Rent Commencement Date and specified term of this Lease shall be stated in said Commencement Certificate.
(d) It is understood and agreed that at such time as Tenant or its employees, agents, contractors or invitees enter the Premises after the Execution Date and prior to the Rent Commencement Date, for any purpose whatsoever, including without limitation, the performance of Tenant's Work, all of the terms, covenants and conditions of this Lease shall apply to the parties as if the Lease Term had begun at such time excepting those provisions as to Minimum Rent, Additional Rent and any other charges payable by Tenant, which shall go into effect as of the Rent Commencement Date, even if Tenant's Work is not completed. Tenant shall place in its name, any utilities which Tenant requires during the performance of Tenant's Work, and Tenant shall be responsible for any and all utility charges incurred.
Appears in 2 contracts
Samples: Lease Agreement (Embassy Bancorp, Inc.), Lease Agreement (Embassy Bancorp, Inc.)
Commencement Date. The term Commencement Date is anticipated to be in Article 1.00 of this Lease. If the Demised Premises are not ready for Tenant’s possession on the date of this Lease, then this Lease shall not be affected thereby but, in such case, the Commencement Date shall be deemed postponed until the date that Landlord delivers possession of the Demised Premises to Tenant. If the event Landlord fails to deliver possession of the Demised Premises within fourteen(1) days of the date of this Lease, either party may terminate this Lease without further liability on the part of Landlord or Tenant except for Landlord to return to Tenant any monies paid by Tenant to Landlord hereunder. In the event Tenant wishes to terminate, Tenant shall serve written notice upon Landlord and Landlord shall thereafter have ten(10) business days within which to deliver the Demised Premises and, in such case, Tenant’s termination shall be nullified and of no force or effect. It is expressly agreed that cancellation of this Lease shall commence on be Tenant’s exclusive remedy in the date this Lease is executed (event Landlord fails to deliver possession of the "Commencement Date") and shall end ten (10) years from Demised Premises to Tenant pursuant to the date the payment of rent commences as set forth in Section 4.1 terms of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Lease.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Acacia Communications, Inc.)
Commencement Date. (a) The term Commencement Date of this Lease shall commence on is the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Leasethe Schedule, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement parties agree that if the Premises Delivery Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This does not occur on or before July 1, 2005 for any reason, then this Lease shall not be void, void or voidable or subject to termination, nor by either party and Landlord shall Landlord not be liable to Tenant for any loss or damagedamage resulting therefrom.
(i) The parties acknowledge and agree that if the Premises Delivery Date does not occur on or before July 1, resulting from 2005, Tenant may be subject to the holdover provisions of its 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 inability delivery of a portion of the Premises would mitigate Tenant's obligation to deliver pay holdover rent, penalties or damages to its current landlord and if Tenant determines, in its commercially reasonable discretion, to accept Landlord's delivery of a portion of the Premises, then, upon Tenant's taking possession of such portion of the Premises, the amount of the credit under this Section 1.1(a)(i) shall be proportionately reduced on the basis of the 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 on or before January 1, 2006. Tenant shall exercise reasonable efforts to substantially complete the Tenant Improvement Work on or before January 1, 2006 using standard working methods without the payment of overtime; provided, however, that at Landlord's option, Landlord may require Tenant to pay for overtime, in which event Landlord shall reimburse Tenant for reasonable overtime expenses within thirty (30) days after Landlord's receipt of a reasonably detailed invoice therefor.
(ii) 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 on within said thirty (30) day period.
(iii) The Premises Delivery Deadline and the date specified 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 LandlordSection 8.2(a) below) or due to fire or other damage to or destruction of the Premises. Tenant's notice given 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 3.2, but no rent hereunder 1.1(a)(i) above shall be applied against the first monthly installments of Base Rent payable hereunder with respect until the rent credit is exhausted.
(b) Following the Commencement Date, Landlord shall prepare and deliver to any delay Tenant a Commencement Date Confirmation substantially in delivery 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 Confirmation and deliver the executed original of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, same to Landlord hereby grants Tenant the right to renew the Lease for one (1) additional within five (5) year periodbusiness days after Tenant's receipt thereof. Tenant's failure to timely execute and return the Commencement Date Confirmation document to Landlord shall be conclusive evidence of Tenant's agreement with the information as set forth therein. This Lease shall be a binding contractual obligation of Landlord and Tenant effective upon the mutual execution and delivery hereof, at notwithstanding the greater later commencement of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseTerm.
Appears in 2 contracts
Samples: Lease (Trimble Navigation LTD /Ca/), Lease Agreement (Trimble Navigation LTD /Ca/)
Commencement Date. (i) The term of this Lease Term shall commence on the Delivery Date (the “Commencement Date”). Tenant acknowledges that there is currently a tenant (the “Existing Tenant”) occupying all or a portion of the Premises, and Tenant agrees that the Commencement Date may not occur on the Delivery Date if the Existing Tenant has not vacated the Premises by the day preceding the Delivery Date. If the Premises are not delivered to Tenant on or before the Delivery Date for any reason, whether or not within Landlord’s control, Landlord shall not be subject to any liability to Tenant and no such failure to deliver the Premises by the Delivery Date or any other date shall in any respect affect the validity or continuance of this Lease is executed or any obligation of Tenant hereunder; provided, however, in the event Landlord fails to deliver the Premises by the Delivery Date because the Existing Tenant has not vacated the Premises, then the Commencement Date (and therefore the "Commencement Delivery Date") and shall end ten (10) years from be deferred to the date immediately following the date the payment Existing Tenant actually vacates the Premises and the Term will end on the date which is two (2) years (for a total of rent commences as set forth in Section 4.1 twenty-four [24] months) following the deferred Commencement Date (unless otherwise terminated pursuant to the terms of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Upon Landlord’s request Tenant shall confirm execute the Commencement Date and the expiration date by executing and delivering a Memorandum Confirmation of Commencement Date ("MEMORANDUM") in the form Lease Term attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Lease.H.
Appears in 2 contracts
Samples: Office Space Lease (Nabriva Therapeutics AG), Office Space Lease (Nabriva Therapeutics AG)
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 term Term of this Amended and Restated Lease shall commence on the date this Lease is executed (the "Commencement Date") and . Unless sooner terminated or extended as hereinafter provided, the Term shall end ten (10) years from on the date Expiration Date. If Landlord does not tender possession of the payment of rent commences as set forth in Section 4.1 of Premises to Tenant on or before the Commencement Date or any other particular date, for any reason whatsoever, Landlord shall not be liable for any damage thereby, this LeaseAmended and Restated Lease shall not be void or voidable thereby, unless sooner terminated pursuant hereto (and the "TERM"). Promptly following Term shall not commence until the Commencement Date. Landlord shall be deemed to have tendered possession of the relevant portion of the Premises to Tenant upon the giving of notice by Landlord to Tenant stating that such portion of the Premises is vacant, in the condition required by this Amended and Restated Lease and available for construction of Tenant’s improvement and alterations. No failure to tender possession of the Premises to Tenant on or before the Commencement Date shall affect any other obligations of Tenant hereunder. There shall be no postponement of the Commencement Date (or the Rent Commencement Date) for any delay in the tender of possession to Tenant which results from any Tenant Delay. Once the Commencement Date is determined, Landlord and Tenant shall confirm execute an agreement stating the Commencement Date, Rent Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2Expiration Date, but no rent hereunder shall be payable hereunder with respect the failure to any delay in delivery do so will not affect the determination of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Leasesuch dates.
Appears in 2 contracts
Samples: Lease Agreement (Marchex Inc), Lease Agreement (Marchex Inc)
Commencement Date. The term 2.1 Unless postponed by the Landlord, in writing, the commencement date of this Lease lease shall be the date stipulated in the Schedule.
2.2 In the event of a postponement of the beneficial occupation date, the commencement date shall likewise be postponed to the first day of the month following the expiry of the beneficial occupation period. In the event of the postponement of the commencement date the lease shall endure for the full lease period and the termination date shall be adjusted in light thereof. The tenant shall have no claim against the landlord to cancel this agreement or for any loss or damage whatsoever, either actual or consequential, which it may incur due to the postponement of the beneficial occupation date.
2.3 In the event that the leased premises are not ready for occupation due to any act/omission by the tenant, the lease shall commence on the date commencement date.
2.4 In the event that the landlord notifies the tenant that the leased premises are ready for occupation and the tenant fails to take occupation of the leased premises on the beneficial occupation date, this Lease is executed (the "Commencement Date") and failure to take occupation shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 be regarded a material breach of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date agreement and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease landlord shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2entitled, but no rent hereunder shall be payable hereunder with respect not obliged, to any delay cancel this agreement in delivery terms of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseClause 27.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Commencement Date. The term of this Lease Commencement Date shall commence on be the date this Lease upon which the addition to Building 2 is executed (substantially completed in accordance with the plans and specifications attached hereto as Exhibit C as indicated by the proper municipal authorities of a Certificate of Occupancy for the addition to Building 2. Promptly after the date hereof, Landlord will begin and prosecute the construction of the Building 2 Addition in accordance with Exhibit C which construction shall hereinafter be referred to as the "Improvements." In order to determine that the Improvements are being built in accordance with the plans and specifications, the Tenant and its representatives, shall have access to the Improvements at all reasonable times during the construction thereof for the purpose of making inspections of the work. The Improvements shall be substantially completed and premises made available to Tenant not later than June 30, 1990. Provided however, if the construction of the Improvements shall be delayed by causes beyond the reasonable control of Landlord, such as, but not limited to, strikes, inclement weather making construction not feasible, scarcity of materials, acts of God, war and governmental restrictions, the Commencement Date") Date shall be adjusted accordingly and rental payments shall end xxxxx until delivery of possession occurs. Landlord shall advise Tenant in writing of the Commencement Date not less than ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following days prior thereto and immediately after the Commencement Date, the Landlord and Tenant will enter into a written memorandum of the date of commencement. Any work provided to be done under the plans and specifications which shall confirm not have been completed at the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be voidDate, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in promptly completed by Landlord and if not completed within thirty (30) days after the delivery of possession, the Premises which is caused solely by Landlord. Provided Tenant has not been in default during may after fifteen (15) days written notice to the Term of Landlord complete the Lease, Landlord hereby grants Tenant same and deduct the right to renew cost thereof from the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate rent for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Leasenext ensuing month or months.
Appears in 2 contracts
Samples: Lease (Millitech Corp), Lease (Telaxis Communications Corp)
Commencement Date. The term Landlord shall deliver possession of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in (the “Delivery Date”) that Landlord's notice given ’s Market Ready Improvements described on EXHIBIT C attached hereto and the Tenant Improvements to be completed by Landlord pursuant to Section 3.2the Work Letter Agreement attached hereto as EXHIBIT D are substantially completed. For purposes of this Lease, but no rent hereunder Landlord’s Market Ready Improvements and the Tenant Improvements shall be payable hereunder deemed to be “substantially completed” when Landlord’s Market Ready Improvements and the Tenant Improvements have been completed in accordance with respect any plans and specifications therefor, subject only to the completion of any delay in delivery minor punch-list items, and the City of Sunnyvale has completed a final inspection of such work and issued a temporary certificate of occupancy or other written approvals permitting legal occupancy of the Premises Premises. The term of this Lease (“Term”) shall be seventy-six (76) months commencing on the date (the “Commencement Date”) which is caused solely thirty (30) days from the Delivery Date. If the Delivery Date does not occur on or before May 1, 2018, for any reason other than (i) ArcTec’s failure to complete the Final Plans and Specifications (as such term is defined in the Work Letter attached as EXHIBIT D) and submit such Final Plans and Specifications (and any other documentation required by the City of Sunnyvale for the issuance of a building permit for the Tenant Improvements) to Landlord. Provided Tenant has not been in default during ’s general contractor by January 8, 2018, (ii) the Term City requiring Landlord to stop construction due to its commencement of the LeaseTenant Improvements before the permits therefor were issued or (iii) delays caused by the acts or omission of Tenant, Landlord hereby grants as defined in Paragraph 3(c) below, then the date Tenant the right is otherwise obliged to renew the Lease for commence payment of Rent shall be delayed by one (1) additional five (5) year period, at day for each day the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseDelivery Date is delayed beyond such date.
Appears in 2 contracts
Samples: Lease Agreement (Silk Road Medical Inc), Lease Agreement (Silk Road Medical Inc)
Commencement Date. (a) The term Scheduled Commencement Date shall be only an estimate of this the actual Commencement Date, and the Lease Term shall commence begin on the date this Lease is executed (first to occur of the "following, which shall be the “Commencement Date"”: (i) and shall end ten (10) years from the date Landlord offers to deliver possession of the payment Premises to Tenant following substantial completion of rent commences as set forth in all improvements to be constructed by Landlord pursuant to Section 4.1 2.3 except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Use, or (ii) the date Tenant reenters into occupancy of this Leaseall of the Premises after having vacated pursuant to Section 2.8. Notwithstanding the foregoing, unless sooner terminated pursuant hereto (the "TERM")actual Commencement Date shall not be earlier than September 1, 2017. Promptly following the Commencement Datedelivery of possession of the Premises by Landlord to Tenant, Landlord and shall deliver Tenant shall confirm 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 expiration date by executing 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 substantially completed the improvements required pursuant to Article 2.3 below and delivering determined that such portion of the Premises is prepared for occupancy, both as Landlord reasonably determines; and (2) for which Tenant has received a Memorandum 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 ("MEMORANDUM"ii) in Tenant’s Base Monthly Rent due and owing under this Lease shall be pro-rated on a per square footage basis until the form 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 "B." This 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 Monthly Rent otherwise due and owing under this Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver $23,995.10 until the Premises to Tenant on earlier of the date specified in Landlord's notice given pursuant on which the Common Area Improvements are substantially completed or the remaining Common Area Improvements to Section 3.2, but be completed no rent hereunder shall be payable hereunder with respect to any delay in delivery longer directly and materially adversely impact Tenant’s use and enjoyment of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeasePremises.
Appears in 2 contracts
Samples: Office Lease (Arteris, Inc.), Office Lease (Arteris, Inc.)
Commencement Date. The term of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences Date as set forth in Section 4.1 the Basic Lease Information shall be upon Substantial Completion of this Leasethe Tenant Improvements as defined in Exhibit B, unless sooner terminated pursuant hereto Construction Rider. When the actual Commencement Date has been established, and within five (the "TERM"). Promptly following the Commencement Date5) business days after Landlord’s written request, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering Expiration Date in writing, using a Memorandum of Commencement Date ("MEMORANDUM") Memorandum substantially in the form attached hereto as Exhibit "B." This Lease C. “Substantially Complete” or “Substantial Completion” shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on mean the date specified Tenant Improvements are complete and the Demised Premises are in the condition required hereunder, excepting only minor Punch List (as defined below) items that are completed by Landlord within thirty (30) days and which do not interfere with Tenant’s ability to occupy the Demised Premises. Landlord shall provide Tenant written notice two (2) business days prior to Substantial Completion of Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in ’s Work and Landlord’s proposed delivery of the Premises which is caused solely by LandlordDemised Premises. Provided Tenant has not been in default during the Term Upon delivery of the LeaseDemised Premises to Tenant, Landlord hereby grants and Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater shall coordinate a walk-through of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Demised Premises and Tenant shall give indicate any deficiencies then apparent (“Punch List”). Landlord a minimum of six shall promptly commence and diligently prosecute until completed the items set forth in the Punch List no later than thirty (630) months written notice prior to days after the end compilation of the Term of its intention to renew this LeasePunch List.
Appears in 2 contracts
Samples: Office Lease Agreement (Rain Therapeutics Inc.), Office Lease Agreement (Rain Therapeutics Inc.)
Commencement Date. Tenant shall have and hold the same Premises, without any liability or obligation on the part of Landlord to make any alterations, improvements or repairs of any kind in or about the Premises, except as expressly provided herein, for the Term set forth on the Data Sheet, unless sooner terminated in the manner provided herein. The term of this Lease Term hereof shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences . Except as specifically set forth in Section 4.1 27.2 hereinafter, if Landlord is unable to give possession of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm Premises on the Commencement Date and because the expiration date by executing and delivering a Memorandum construction of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease Facility or the completion of the Premises has not been sufficiently completed to make the Premises ready for occupancy, or for any reason, Landlord shall not be void, voidable or subject to terminationany claims, nor shall Landlord be liable damages or liabilities for the failure to Tenant for any loss or damage, resulting from Landlord's inability to deliver give possession on said date. Substantial completion of the Premises shall be evidenced by the issuance of a certificate of occupancy (whether full or partial, temporary or permanent) for the Premises, provided, however this provision shall not limit Tenant's right to Tenant on the date specified in Landlord's notice given require Landlord to correct incomplete or defective work pursuant to Section 3.24.03, but no rent hereunder in the Building or Premises. Under said circumstances, the Rent reserved and covenant to pay same shall be payable hereunder with respect to any delay in delivery not commence until possession of the Premises which is caused solely by Landlord. Provided Tenant has not been given and the Premises are ready for occupancy, whichever is earlier, and failure to give possession on the Commencement Date shall in default during no way affect the Term validity of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease obligations of Tenant hereunder, except that Tenant's obligation to make rental rate for the Building as determined by the Landlord. In order and other required payments (other than pursuant to exercise its renewal option, Tenant Article XXIII herein) shall give Landlord be deferred and there shall be a minimum of six (6) months written notice prior to the end corresponding extension of the Term of its intention to renew this LeaseExpiration Date.
Appears in 2 contracts
Samples: Lease (Fourth Shift Corp), Lease (Fourth Shift Corp)
Commencement Date. The term (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 this Lease shall commence on the date this Lease is executed 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 September 15, 2002 and November 15, 2002 (the "Delivery Period"). If Landlord does not deliver the demised premises to Tenant as required herein by November 15, 2002, Tenant may defer delivery until January 2, 2003. If Landlord does not deliver the demised premises to Tenant thereafter on or before February 28, 2003, Tenant may terminate this Lease or defer delivery until May 1, 2003. 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) and shall end ten (10) years from day of minimum rent for each day after the date Final Delivery Date until delivery of the payment of rent commences as set forth in Section 4.1 demised premises is made to Tenant consistent with the terms of this Lease, unless sooner terminated pursuant hereto (including substantial completion of the "TERM")Landlord's Work. Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject obligated to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery accept possession of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice demised premises prior to the end later of (a) substantial completion of Landlord's Work, (b) the first day of the Term Delivery Period and (c) the Final Delivery Date. Time is of its intention to renew the essence regarding all dates set forth in this LeaseSection 3(a). Landlord shall obtain a certificate of occupancy for the demised premises as part of Landlord's Work.
Appears in 2 contracts
Samples: Lease (Retail Ventures Inc), Lease (Retail Ventures Inc)
Commencement Date. (A) The term Term of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and shall end that Landlord notifies Tenant that it has substantially completed Landlord's Work. Within ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following days after the Commencement Date, Landlord's representative and Tenant's representative shall jointly examine the Premises and shall compile a list of any remaining items of work which Landlord and may be obligated to complete ("punch list items"). The taking of possession of the Premises by Tenant shall confirm 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.
(B) If Tenant takes possession of the Premises prior to the Commencement Date Date, Tenant's obligation to pay Rent hereunder and to observe and perform all other conditions and agreements hereunder shall commence on such earlier date of possession, but the expiration date by executing and delivering a Memorandum Term of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from affected thereby.
(C) In the event that substantial completion of Landlord's inability to deliver Work is delayed by reason of delays caused or occasioned by Tenant, then at Landlord's option the Premises to Tenant Term of this Lease shall commence on the date specified in that this Lease would have commenced had not the completion of Landlord's notice given pursuant 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 Section 3.2, but no rent hereunder exercise all rights and remedies provided for herein in the event of Tenant's default.
(D) Landlord's Work shall be payable hereunder with respect deemed to any delay in delivery of have been substantially completed when the Premises which is caused solely by may be lawfully occupied and the heating, ventilation, air conditioning, mechanical and elevator systems serving the Premises are operable.
(E) Tenant shall, upon the demand of Landlord. Provided Tenant has not been in default during , promptly execute, acknowledge and deliver to Landlord an instrument substantially similar to that annexed hereto as Exhibit E, confirming the Term dates of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end commencement and expiration of the Term of its intention to renew this Lease.Lease and such other matters as are set forth on Exhibit E.
Appears in 2 contracts
Samples: Sublease Agreement (Webmd Inc), Sublease Agreement (Healtheon Webmd Corp)
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 (as hereinafter defined). The term Term of this Lease shall commence on the that date this Lease is executed (the "Commencement Date") which is the earlier of (i) the "Scheduled Commencement Date" as specified in Article 1, and shall end ten (10ii) years the date Tenant commences the conduct of business from the date Premises (other than pursuant to Section 2.8 below). Tenant's obligation to commence the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto Fixed Rent shall commence on that date (the "TERM"). Promptly following the Rent Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") which is the later of (i) the "Scheduled Rent Commencement Date" specified in Article 1, as such date may be extended for Landlord Delays (as defined in the form Workletter Agreement attached hereto as Exhibit D (the "B." This Lease shall Workletter Agreement")), and (ii) if Landlord does not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver tender possession of the Premises to Tenant on or before the "Delivery Grace Period Expiration Date" specified in Article 1, then, the date specified in which is the same number of days following the Scheduled Rent Commencement Date as the date of Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery tender of possession of the Premises which to Tenant ("Delivery Date") is caused solely by Landlordfollowing the Delivery Grace Period Expiration Date. Provided Tenant has not been in default during Unless sooner terminated as hereinafter provided, the Term shall end on the "Expiration Date" specified in Article
1. If Landlord does not tender possession of the LeasePremises to Tenant on or before the "Scheduled Delivery Date" specified in Article 1 for any reason whatsoever, Landlord hereby grants Tenant the right to renew the Lease shall not be liable for one (1) additional five (5) year periodany damage thereby, at the greater of the then current Basic Rent increased in accordance with and, except as otherwise provided herein, this Lease shall not be void or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Leasevoidable thereby.
Appears in 1 contract
Samples: Lease (Portal Software Inc)
Commencement Date. Tenant shall have and hold the same Premises, without any liability or obligation on the part of Landlord to make any alterations, improvements or repairs of any kind in or about the Premises, except as expressly provided herein, for the Term set forth on the Data Sheet, unless sooner terminated in the manner provided herein. The term of this Lease Term hereof shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences . Except as specifically set forth in Section 4.1 27.2 hereinafter, if Landlord is unable to give possession of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm Premises on the Commencement Date and because the expiration date by executing and delivering a Memorandum construction of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease Facility or the completion of the Premises has not been sufficiently completed to make the Premises ready for occupancy, or for any reason, Landlord shall not be void, voidable or subject to terminationany claims, nor shall Landlord be liable damages or liabilities for the failure to Tenant for any loss or damage, resulting from Landlord's inability to deliver give possession on said date. Substantial completion of the Premises shall be evidenced by the issuance of a certificate of occupancy (whether full or partial, temporary or permanent) for the Premises, provided, however this provision shall not limit Tenant’s right to Tenant on the date specified in Landlord's notice given require Landlord to correct incomplete or defective work pursuant to Section 3.24.03, but no rent hereunder in the Building or Premises. Under said circumstances, the Rent reserved and covenant to pay same shall be payable hereunder with respect to any delay in delivery not commence until possession of the Premises which is caused solely by Landlord. Provided Tenant has not been given and the Premises are ready for occupancy, whichever is earlier, and failure to give possession on the Commencement Date shall in default during no way affect the Term validity of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease obligations of Tenant hereunder, except that Tenant’s obligation to make rental rate for the Building as determined by the Landlord. In order and other required payments (other than pursuant to exercise its renewal option, Tenant Article XXIII herein) shall give Landlord be deferred and there shall be a minimum of six (6) months written notice prior to the end corresponding extension of the Term of its intention to renew this LeaseExpiration Date.
Appears in 1 contract
Samples: Lease (SoftBrands, Inc.)
Commencement Date. The term (A) Landlord shall endeavor to tender delivery to Tenant of the Premises in the condition required hereunder on or before the Commencement Date; provided, however, that, notwithstanding anything to the contrary contained herein, in the event that Landlord shall deliver to Tenant possession of the Premises on a date other than the date specified in ITEM 6 of the Basic Lease Provisions, the Commencement Date shall be deemed to be the date on which Landlord tenders possession of the Premises, either physically or by written notice, to Tenant with the Material Landlord's Work substantially completed (the "DELIVERY CONDITION"). If this Lease is executed before the Premises shall become vacant or otherwise available, or if any present tenant or occupant of the Premises holds over, and Landlord cannot acquire possession of the Premises in time to deliver them by the Commencement Date, or if delivery to Tenant of the Premises is delayed for any other reason, except to the extent expressly provided otherwise in Paragraph 1.3.2(b) or Paragraph 3.1.4, below, this Lease shall not be void or voidable, and Landlord shall not be deemed to be in default hereunder, nor shall Landlord be liable for any loss or damage directly or indirectly arising out of or resulting from such holdover or other delay in delivery. Subject to Paragraph 1.3.2(b), below, Tenant agrees to accept possession of the Premises on the date on which Landlord is able to tender delivery of the same, which date shall thenceforth be deemed the Commencement Date. After the Commencement Date, Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of delivery of the Premises specifying the Commencement Date.
(B) Notwithstanding the foregoing, in the event that Landlord shall fail to tender to Tenant delivery of possession of the Premises in the Delivery Condition on or before the Outside Delivery Date (defined below) or the Absolute Delivery Date (defined below), Tenant may elect to terminate this Lease by delivery to Landlord of a notice (the "TERMINATION NOTICE"), which termination shall be effective thirty (30) days after Landlord's receipt of the Termination Notice; provided, however, that in the event that, within such thirty (30) day period, Landlord shall tender to Tenant delivery of possession of the Premises in Delivery Condition, the Termination Notice shall be null, void and of no force or effect and the Term of this Lease shall commence on the date on which Landlord shall tender to Tenant delivery of Possession of the Premises in the Delivery Condition. As used herein, "OUTSIDE DELIVERY DATE" shall mean March 1, 2006 and "ABSOLUTE DELIVERY DATE" shall mean April 1, 2006; provided, however, that notwithstanding anything to the contrary herein, (i) each of the Outside Delivery Date and the Absolute Delivery Date shall be extended on a day for day basis for each day of Tenant Delay (defined below) and (ii) the Outside Delivery Date (but not the Absolute Delivery Date) shall also be extended on a day for day basis for each day of Qualifying Holdover Delay (defined below) (with the parties hereto agreeing that notwithstanding anything to the contrary in this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth including, without limitation, in Section 4.1 3.1.4, below), the Absolute Delivery Date shall be extended only as a result of Tenant Delays and not for any other reason). As used herein, "TENANT DELAY" shall mean any delay in the delivery of possession of the Premises and substantial completion of the Landlord's Work caused by or relating to (A) any breach by Tenant of the provisions of this Lease, unless sooner terminated pursuant hereto (B) any failure of Tenant to timely take any action required to be taken by Tenant hereunder; (C) any changes requested by Tenant to the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver Work; (D) any interference by Tenant or any other Tenant's Party with the Premises to Tenant on performance of the date specified in Landlord's notice given pursuant Work; and (E) any other event specified to Section 3.2be a Tenant Delay in this Lease. For purposes hereof, but no rent hereunder a "QUALIFYING HOLDOVER DELAY" shall be payable hereunder with respect to mean any delay in the delivery of possession of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term and substantial completion of the Lease, Landlord's Work caused by or relating to any failure by any tenant occupying the Premises or any portion thereof to surrender to Landlord hereby grants Tenant possession of its premises or any portion thereof upon the right to renew the Lease for one (1) additional five (5) year period, at the greater expiration of termination of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term term of its intention lease (a "CURRENT TENANT HOLDOVER"); provided, however, that no such Current Tenant Holdover by any such tenant shall cause a Qualifying Holdover Delay unless Landlord shall use commercially reasonable efforts to renew this Leasecause such Current Tenant Holdover to end as soon as reasonably possible.
Appears in 1 contract
Samples: Lease Agreement (Emerson Radio Corp)
Commencement Date. The term of this Lease shall commence be for 144 months (“Lease Term”), commencing on the date this Lease is executed February 1, 2005 (the "“Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease”), unless sooner terminated pursuant hereto (the "TERM")as hereinafter provided or extended as provided in Article 52. Promptly following On and after the Commencement Date, the Lease shall continue in full force and effect for the period of time specified as the Lease Term or until this Lease is terminated as otherwise provided herein.
1.1.1 Reference in this Lease to a “Lease Year” shall mean each successive twelve month period commencing with the Commencement Date.
1.1.2 Tenant (or its contractors or agents) may, at no charge to Tenant, enter the Premises after the execution and delivery of this Lease by Landlord and Tenant shall confirm in order for Tenant to commence installation of furniture, fixtures, trade fixtures, personal property, telecommunications equipment, cabling, and other equipment and to perform the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") work outlined in the form attached hereto as Exhibit "B." This Lease Work Letter Agreement; provided, however, that (a) Landlord shall not be voidresponsible for, voidable and Tenant is required to obtain insurance covering and shall indemnify Landlord against, any loss (including theft), damage or subject destruction to terminationany such items, nor shall Landlord be liable or by any contractor or individual involved in the installation of such items, or for any injury to Tenant for any loss or damageTenant’s employees, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2agents, but no rent hereunder shall be payable hereunder with respect contractors, licensees, directors, officers, partners, trustees, visitors or invitees or to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Leaseother person, and (b) Landlord hereby grants Tenant shall have the right to renew post the appropriate notices of non-responsibility and to require Tenant to provide Landlord with reasonable evidence that Tenant has fulfilled its obligation to provide insurance pursuant to this Lease. All terms and conditions of this Lease shall apply to Tenant’s early entry into the Premises except for the payment of Base Rent and Direct Expenses, which will not occur until the third month of the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseTerm.
Appears in 1 contract
Samples: Lease Agreement (Macrovision Corp)
Commencement Date. The term of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and of the expiration date Lease will occur on December 19, 2006, regardless of whether the Tenant Improvements are substantially completed or not by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be voidsuch date; provided, voidable or subject to terminationhowever, nor shall if Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability fails to deliver the Premises to Tenant on or before the date specified in Landlord's notice given pursuant to Section 3.2Delivery Date, but no rent hereunder the Commencement Date shall be payable hereunder with respect delayed one day for each day after the Delivery Date that Landlord fails to any deliver the Premises to Tenant until the Premises are actually delivered (so long as such delay by Landlord was not caused by Tenant). The failure of Tenant to take possession of or to occupy the Premises shall not serve to relieve Tenant of obligations arising on the Commencement Date or delay the payment of rent by Tenant, nor shall such failure serve to extend the term of the Lease. Tenant shall have expended all of the Construction Allowance for the purposes permitted in delivery Paragraph 3(a) of this Exhibit C no later than one hundred twenty (120) days after the Commencement Date; provided, however Tenant shall not be required to have completed the Tenant Improvements within such one hundred twenty (120) period. Any entrance into or occupation of the Premises which is caused solely and/or the Project by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice any Tenant-Related Party prior to the end Commencement Date shall be subject to all obligations of Tenant under this Lease (other than the Term payment of its intention to renew this LeaseBase Rent and Excess Operating Expenses), including without limitation, the indemnity obligations of Paragraphs 7, 18 and 30 therein, which shall be in addition to, and not in lieu of, the indemnity obligations of Paragraph 5 herein.
Appears in 1 contract
Commencement Date. The term of this Lease shall commence on the commencement date this Lease is executed (the "Commencement Date") and shall end ten (10) years from for this Lease is the date the payment of rent commences as set forth in Section 4.1 the Schedule. Tenant agrees and acknowledges that the Commencement Date shall not be delayed as a result of this Lease, unless sooner terminated pursuant hereto (any delays which may occur in the completion of the "TERM"). Promptly following Tenant Improvements," as described in Section 4 and the Tenant Improvement Agreement and Work Letter, attached hereto as EXHIBIT C. If Landlord does not deliver possession of the Premises by the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This for any reason whatsoever, then this Lease shall not be voidvoid or voidable, voidable or subject to termination, nor and Landlord shall Landlord not be liable to Tenant for any loss or damagedamage resulting therefrom. Furthermore, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of possession shall in any way operate to extend the Expiration Date or any other obligation of Landlord or Tenant hereunder, provided, however, the Monthly Base Rent shall be waived for the period between the Commencement Date and the date when Landlord delivers possession of the Premises which to Tenant. In the event Landlord is caused solely by Landlord. Provided Tenant has not been in default during the Term unable to deliver possession of the LeasePremises within ninety days after the Commencement Date, either party may elect to cancel this Lease by giving the other party written notice of its election to cancel and the Lease shall be canceled as of the date of the Notice. If the delay in Commencement is in no way related to Tenant's actions or inactions, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew return any prepaid rent and Security Deposit and neither party shall have any further liability under this Lease.
Appears in 1 contract
Commencement Date. The term date on which the Landlord’s Work is Substantially Complete (as defined in Paragraph 4 of Exhibit “D. Notwithstanding the foregoing, if Landlord anticipates that the Landlord’s Work will be Substantially Complete prior to the Target Turnover Date (as defined below), Landlord shall provide Tenant with prior written notice thereof at least nine (9) months prior to the anticipated earlier date of such Substantial Completion; provided, however, that (subject to the next grammatical sentence of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease1(d)), unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm not be required to accept delivery of the Landlord’s Work, nor shall the Commencement Date and commence, more than sixty (60) days prior to the expiration date by executing and delivering a Memorandum Target Turnover Date. Notwithstanding the forgoing, if Tenant elects (subject to the terms of Exhibit “D”) to commence the Tenant Finish Work prior to the Substantial Completion of the Landlord’s Work, then the Commencement Date shall be the earlier of ("MEMORANDUM"i) the date determined in accordance with the form attached hereto preceding provisions of this Section 1(d), or (ii) the date on which the Tenant Finish Work is substantially complete (as determined in accordance with Exhibit "B." This Lease shall “D”). If the Landlord’s Work is not be voidSubstantially Complete by the date that is thirty (30) days after the Target Turnover Date, voidable or then subject to terminationExcusable Delays (as defined in Exhibit “D”), nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect entitled to any delay in delivery an abatement of the Premises which is caused solely by Landlord. Provided Tenant has Minimum Annual Rent (but not been in default during the Term Additional Rent) of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year periodday for each such day of delay, at which abatement shall be applied against the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end earliest period of the Term for which Minimum Annual Rent would otherwise be payable and, at Landlord’s election, the Term shall be extended one (1) day for each such day of its intention to renew this Leaseabatement.
Appears in 1 contract
Commencement Date. The term Commencement Date shall be defined to mean the earliest to occur of this Lease shall commence on the following:
(i) the date this Lease is executed Tenant commences occupancy of any portion of the Premises for the conduct of its business; or
(the "Commencement Date"ii) and shall end ten (10) years from the date upon which the payment of rent commences Tenant Improvements have been Substantially Completed, as set forth defined in Section 4.1 of this Leasethe Tenant Improvements Work Letter attached hereto as EXHIBIT C and incorporated by reference herein (“Work Letter”), unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant but in no event shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be voidoccur prior to July 1, voidable or subject to termination, nor shall 2005. If Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability fails to deliver the Premises to Tenant on with the Tenant Improvements Substantially Completed (excluding, however, items 6 and 7 in Section 1 of the Work Letter) by June 30, 2005 for any reason other than due to a Tenant Delay (as defined in the Work Letter), (i) Landlord shall reimburse Tenant for Tenant’s holdover rent amount for its current premises in the amount that is above and beyond the existing base rent and expenses required to be paid by Tenant under its current lease until the Commencement Date occurs, and Tenant shall not be obligated to pay any Rent hereunder until the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery that Landlord delivers possession of the Premises to Tenant with the Tenant Improvements Substantially Completed (which is caused solely by Landlorddate shall then be deemed the Commencement Date). Provided No such delay in the Commencement Date shall alter the validity of this Lease or the obligations of Tenant hereunder. Notwithstanding anything to the contrary contained in this Lease, if Landlord has not been delivered the Premises to Tenant in default during the Term required condition by August 1, 2005, excluding, however, items 6 and 7 in Section 1 of the Lease, Landlord hereby grants Work Letter) Tenant shall have the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with terminate this Lease as of such date, in which case neither party shall have any further rights or at the then current fair market lease rental rate for the Building as determined obligations under this Lease and Landlord promptly shall refund to Tenant all sums paid by the Landlord. In order Tenant to exercise its renewal option, Tenant shall give Landlord a minimum in connection with Tenant’s execution of six (6) months written notice prior to the end of the Term of its intention to renew this Lease.
Appears in 1 contract
Commencement Date. The term Commencement Date shall be July 1, ----------------- 1997. Subject to the provisions of this Lease the next sentence, Tenant shall commence be entitled to possession of the Premises on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from . If for any reason whatsoever, Landlord cannot deliver possession of the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following Premises to Tenant on the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This this Lease shall not be void, voidable void or subject to terminationvoidable, nor shall Landlord Landlord, or Landlord's Agents, be liable to Tenant for any loss or damagedamage resulting therefrom and the Commencement Date shall be the date on which Landlord delivers possession of the Premises to Tenant. Notwithstanding the foregoing to the contrary, resulting from Landlord's inability in the event Landlord is unable to deliver possession of the Premises by August 1, 1997, as that date may be extended due to the occurrence of a force majeure (as that term is defined in Paragraph 38.N. below), then Tenant, upon ten (10) days' prior written notice to Landlord, may terminate this Lease; provided, however, the Lease shall not terminate in the event that Landlord delivers possession of the Premises to Tenant on within such ten (10) day period. All obligations of Tenant hereunder except those relating to the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder payment of Rent shall be payable hereunder with respect to any delay in delivery commence as of the Premises which is caused solely by Landlord. Provided Tenant has not been Commencement Date, including, without limitation, the obligations contained in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseParagraph 21.
Appears in 1 contract
Samples: Lease (Hiway Technologies Inc)
Commencement Date. If improvements are to be erected upon the Leased Premises pursuant to a separate Leasehold Improvements Agreement between Lessor and Lessee, as described in Section 6.1, and the “Commencement Date” shall be the earlier of the date Lessee begins operating its business in the Leased Premises or the scheduled “Commencement Date” as stated herein; and if no improvements are to be erected upon the Leased Premises pursuant to a Leasehold Improvements Agreement, the Commencement Date shall be the earlier of the date Lessee begins operating its business in the Leased Premises or May 15, 2011 (the “Commencement Date”). The Commencement Date shall constitute the commencement of the term of this Lease shall commence on the date for all purposes, whether or not Lessee has actually taken possession. If this Lease is executed (before the "Commencement Date") Leased Premises become vacant or otherwise available and shall end ten (10) years from ready for occupancy by Lessee, or if any present occupant of the date Leased Premises holds over and Lessor cannot acquire possession of the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following Leased Premises before the Commencement Date, Landlord and Tenant then (i) Lessee’s obligation to pay rent hereunder shall confirm be waived until Lessor tenders possession of the Leased Premises to Lessee, (ii) the term shall be extended by the time between the scheduled Commencement Date and the expiration date by executing and delivering a Memorandum on which Lessor tenders possession of the Leased Premises to Lessee (which date will then be defined as the Commencement Date Date), ("MEMORANDUM"iii) in the form attached hereto as Exhibit "B." This Lease Lessor shall not be void, voidable in default hereunder or subject to termination, nor shall Landlord be liable to Tenant for any loss or damagedamages therefore, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder and (iv) Lessee shall be payable hereunder with respect to any delay in delivery accept possession of the Leased Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right when Lessor tenders possession thereof to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseLessee.
Appears in 1 contract
Commencement Date. (a) Landlord, on behalf of Tenant, shall cause the Leasehold Improvements to be substantially completed 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(c) above (such date, the "Target Delivery Date", currently estimated to be thirty (30) business days following Final Plan Approval Date) and issuance of a building permit therefor, subject, however, to the effect of Section 3.01(c) hereof; provided, however, that Landlord will make every reasonable effort to assure completion of Phase I, as defined by the approved plans, fourteen (14) days following final plan approval date. The term of this Lease and the obligations of the parties hereto shall commence on the a date this Lease is executed (hereinafter referred to as the "Commencement Date") and which shall end ten be the sooner of (10a) years from the date Tenant commences operation of its business in all or any portion of the payment of rent commences as set forth in Section 4.1 Premises; or (b) the date that the Leasehold Improvements have been "substantially completed".
(b) For purposes of this LeaseArticle 3, unless sooner terminated pursuant hereto (the "TERM")Leasehold Improvements shall be deemed substantially completed when the Architect certifies to Landlord and Tenant in writing that the Leasehold Improvements have been completed in accordance with the Approved Plans, subject only to normal punchlist items. Promptly Landlord shall cause such general contractor or subcontractors to complete any outstanding punchlist items reasonably promptly following the Commencement Date.
(c) Notwithstanding the foregoing, Landlord and if the Leasehold Improvements are not substantially completed on or before the Target Delivery Date, then the Target Delivery Date shall be extended by the number of days of construction delay in achieving substantial completion resulting from any "Force Majeure Delay" or "Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date Delay" ("MEMORANDUM") as such terms are defined in the form attached hereto as Exhibit "B." This Lease shall not be voidSection 3.03), voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to operation of Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Lease3.03.
Appears in 1 contract
Samples: Lease Agreement (Pc Connection Inc)
Commencement Date. The term “Commencement Date” shall mean the earlier of this Lease shall commence on (i) the date this Lease is executed on which Landlord shall “substantially complete” “Landlord’s Work” (as those terms are defined in Exhibit L annexed hereto), tender to Tenant vacant, broom-clean possession of the Premises, free of all third-party rights and occupancies, and deliver to Tenant the Subordination, Non-Disturbance, and Attornment Agreement (the "Commencement Date"“Apollo SNDA”) and shall end ten from Apollo Commercial Real Estate Finance, the existing Superior Mortgagee in the form annexed hereto as Exhibit J, or (10ii) years from the date on which Tenant takes possession of the payment Premises to commence actual construction of rent commences “Tenant’s Work” (as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"hereinafter defined). Promptly following After the occurrence of the Commencement Date, Landlord and shall provide Tenant shall confirm with a notice which sets forth the Commencement Date, the Rent Commencement Date and the expiration date by executing and delivering a Memorandum Expiration Date; provided, that the failure of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease Landlord to deliver such notice shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver affect the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery determination of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased such dates in accordance with this Lease or at Lease. Should there be any dispute regarding the occurrence of the Commencement Date, then current fair market lease rental rate for the Building as determined same shall be resolved by way of expedited arbitration in accordance with Article 14 hereof, pending the Landlord. In order to exercise its renewal optionresolution of such dispute, Tenant shall give Landlord pay Rent based upon Landlord’s determination of the Rent Commencement Date in accordance with the terms of this Lease. If such dispute is resolved so that the Rent paid by Tenant is greater or less than the Rent determined to be paid by way of such arbitration, then (x) if there is a minimum deficiency, Tenant shall pay the amount thereof within twenty (20) days after written demand therefor, or (y) if there is an overpayment, the amount of six (6) months written notice such overpayment shall be credited against the next installment of Rent due hereunder. Notwithstanding the foregoing, in no event shall the Commencement Date occur prior to the end of the Term of its intention to renew this LeaseAugust 1, 2019.
Appears in 1 contract
Samples: Lease (Peloton Interactive, Inc.)
Commencement Date. The term If Landlord is not obligated to construct ----------------- improvements to the Premises prior to the Commencement Date pursuant to Section 2.3, then, on the Scheduled Commencement Date. Landlord shall deliver possession of this the Premises to Tenant and the Lease Term shall commence on the such date this Lease is executed (and such date shall be referred to herein as the "Commencement Date"), subject to Section 2.4. If Landlord is required to construct improvements to the Premises prior to the Commencement Date pursuant to Section 2.3, then the Scheduled Commencement Date shall be only an estimate of the actual Commencement Date, and the Lease Term shall begin on the first to occur of the following, which, subject to acceleration under the Work Letter attached hereto as Exhibit C, --------- shall be the "Commencement Date": (i) and shall end ten (10) years from the date Landlord offers to deliver possession of the payment Premises to Tenant following substantial completion of rent commences as set forth in all improvements to be constructed by Landlord pursuant to Section 4.1 2.3 except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Use, or (ii) the date Xxxxxx enters into occupancy of this Lease, unless sooner terminated pursuant hereto the Premises. Tenant shall accept possession and enter into good faith occupancy of the entire Premises and commence the operation of its business therein within thirty (30) days after the "TERM")Commencement Date. Promptly following the Commencement Datedelivery of possession of the Premises by Landlord to Tenant, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering together execute a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease D, --------- appropriately completed (but the failure to execute such Memorandum of Commencement Date shall not be void, voidable affect the Commencement Date or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from LandlordTenant's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Leaseobligations hereunder).
Appears in 1 contract
Samples: Office Lease (Netflix Com Inc)
Commencement Date. The term of this Lease Commencement Date shall commence on be either (i) the date this Lease of substantial completion ("Substantial Completion") of Landlord's obligations for construction of the Premises in accordance the Construction Provisions (Exhibit "C"), or (ii) November 1, 1988, whichever occurs last. Substantial Completion is executed defined as the date Landlord notifies Tenant that Landlord's obligations for construction of the Premises have been substantially completed in accordance with the Construction Provisions. Certification by Landlord's Architect (the ("Project Architect") of Substantial Completion shall be conclusive and binding upon the parties hereto. Notwithstanding the foregoing, in the event that Substantial Completion is delayed by reason of any act or omission of Tenant, (a "Tenant Delay"), the date specified in clause (i) above shall be the date Substantial Completion would have occurred had the Tenant Delay(s) not occurred. In no event shall Tenant be required to take possession of the Premises prior to November 1, 1998. Landlord may provide for Substantial Completion of the Premises on or after the Target Commencement Date") and . Landlord shall end ten (10) years from deliver possession of the Premises to Tenant on or before the date of Substantial Completion of the payment Premises. Landlord shall exercise reasonable efforts to notify Tenant 30 days in advance of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the estimated Commencement Date. However, in the event delivery of the Premises is delayed beyond the Target Commencement Date for any reason, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable liable or subject to termination, nor shall Landlord be liable responsible to Tenant for any loss or damage, damage suffered by Tenant resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Leasesuch delay.
Appears in 1 contract
Commencement Date. The term of this Lease shall commence on the date specified in Section 1(b), or on such earlier or later date as may be specified by written notice delivered by Landlord to Tenant advising Tenant that the premises are ready for possession and specifying the Commencement Date, which shall not be less than 30 days following the date of such notice. If Tenant occupies the Premises before the Commencement Date specified in Section 1(b), then the Commencement Date shall be the date of occupancy. If Landlord acts diligently to make the Premises available to Tenant, neither Landlord nor any agent or employee of Landlord shall be liable for any damage or loss due to Landlord's inability or failure to deliver possession of the Premises to Tenant as provided in this Lease. The Termination Date shall be modified upon any change in the Commencement Date so that the length of the Lease term is not changed. If Landlord does not deliver possession of the Premises to Tenant within 60 days after the date specified in Section 1(b), Tenant may elect to cancel this Lease is executed (the "Commencement Date") and shall end by giving written notice to Landlord within ten (10) years from days after such time period ends. If Tenant gives such notice, the date the payment of Lease shall be cancelled, all prepaid rent commences as set forth in Section 4.1 of this Leaseand security deposits shall be refunded to Tenant, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, and neither Landlord and nor Tenant shall confirm have any further obligations to the other. The first "Lease Year" shall commence on the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant end on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one twelve (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (612) months written notice prior to from the end of the Term month in which the Commencement Date occurs. Each successive Lease Year during the initial term and any extension terms shall be twelve (12) months, commencing on the first day following the end of its intention to renew this Leasethe preceding Lease Year, except that the Lease Year shall end on the Termination Date.
Appears in 1 contract
Commencement Date. 1) The term Commencement Date shall be earlier or later than the date set forth at the beginning of this Lease shall under the following circumstances:
a) The Lease will not commence on until the date this Lease work listed in Exhibit B-14, to be performed by Landlord, is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Leasesubstantially completed, unless sooner terminated pursuant hereto (Tenant chooses to occupy the "TERM"). Promptly following the Commencement DateDemised Premises, Landlord and Tenant shall confirm or any part thereof, prior to substantial completion, in which case the Commencement Date and shall be the expiration date of said occupancy by executing and delivering a Memorandum of Txxxxx.
b) Except as provided in the preceding paragraph, the Commencement Date will not be altered if the work listed in Exhibit B-14, to be performed by Landlord, is not substantially completed due to ("MEMORANDUM"i) changes requested by Tenant to Exhibit B-14 after this Lease was executed or (ii) the failure of Tenant to promptly provide Landlord with any information necessary for the timely completion of the work listed in Exhibit B-14 or (iii) the form attached hereto failure of Tenant to cooperate with Landlord in completion of the work listed in Exhibit B-14 to such an extent as Exhibit "B." This Lease to cause the delay.
2) Substantial completion shall be deemed to have occurred even though (i) minor details of Landlord’s work remain to be done, provided such details do not materially interfere with the Tenant’s occupancy of the Demised Premises, or (ii) any work or installation other than Landlord’s work being performed by Tenant itself has not been completed.
3) Landlord shall not be voidliable for failure to give possession of the Demised Premises, voidable or subject any part thereof, upon the Commencement Date by reason of the fact that the Demised Premises, or any part thereof, are not ready for occupancy, or due to termination, nor shall Landlord be liable a prior tenant holding over in the Demised Premises or due to Tenant any other person being in possession of the Demised Premises or for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Leaseother reason.
Appears in 1 contract
Samples: Lease (Cytosorbents Corp)
Commencement Date. The term If Landlord is not obligated to construct improvements to the Premises prior to the Commencement Date pursuant to Section 2.3, then, on the Scheduled Commencement Date, Landlord shall deliver possession of this the Premises to Tenant and the Lease Term shall commence on such date (and such date shall be referred to herein as the “Commencement Date”), subject to Section 2.4. If Landlord is required to construct improvements to the Premises prior to the Commencement Date pursuant to Section 2.3, then the Scheduled Commencement Date shall be only an estimate of the actual Commencement Date, and the Lease Term shall begin on the first to occur of the following, which, subject to acceleration under the Work Letter attached hereto as Exhibit C, shall be the “Commencement Date”: (i) the date this Lease is executed Landlord offers to deliver possession of the Premises to Tenant following substantial completion of all improvements to be constructed by Landlord pursuant to Section 2.3 except for punchlist items which do not prevent Tenant from using the Premises for the Permitted Use, or (ii) the "date Tenant enters into occupancy of the Premises. Tenant shall accept possession and enter into good faith occupancy of the entire Premises and commence the operation of its business therein within thirty (30) days after the Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Datedelivery of possession of the Premises by Landlord to Tenant, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering together execute a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease D, appropriately completed (but the failure to execute such Memorandum of Commencement Date shall not be void, voidable affect the Commencement Date or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseTenant’s obligations hereunder).
Appears in 1 contract
Commencement Date. The term Commencement Date shall be defined to mean the earliest to occur of the following:
(i) the date Tenant commences occupancy under this Lease of any portion of the Premises for the conduct of its business; or
(ii) the Estimated Commencement Date specified in section C.4. of the Information Sheet. If for any reason Landlord does not or cannot deliver possession of all or any portion of the Premises to Tenant by the Estimated Commencement Date, Landlord shall not be subject to any liability therefore, nor shall such failure affect the validity of this Lease or the obligations of Tenant hereunder, provided that such delay does not exceed thirty (30) days from the Estimated Commencement Date, but in such case, Tenant shall commence on not be obligated to pay any Monthly Rent hereunder, until the date that Landlord delivers possession of the entire Premises to Tenant (which date shall then be deemed the Commencement Date). No such delay or adjustment in the Commencement Date shall alter the validity of this Lease is executed or the nature or term of the obligations of Tenant hereunder, nor shall any such delay or adjustment cause the expiration date of this Lease to be later than July 12, 2014. If for any reason Landlord does not deliver possession of all or any portion of the Premises to Tenant for a period exceeding thirty (30) days from the "Estimated Commencement Date") , Tenant shall be entitled to terminate this Lease with respect to that portion of the Premises not delivered, and its obligations under this Lease shall end ten (10) years from cease with respect to, such portion of the date the payment of rent commences Premises. Except as set forth in Section 4.1 the Work Letter with respect to the hanging conference room wall, if Landlord fails to deliver at least ninety percent (90%) of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following Premises by the Estimated Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") be entitled to terminate this Lease in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall its entirety. If Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability fails to deliver the Premises to Tenant on in its entirety within ninety (90) days after the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal optionEstimated Commencement Date, Tenant shall give Landlord a minimum of six (6) months written notice prior be entitled to the end of the Term of terminate this Lease in its intention to renew this Lease.entirety. -5-
Appears in 1 contract
Samples: Office Lease Agreement
Commencement Date. (a) 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 term Term of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and . Unless sooner terminated or extended as hereinafter provided, the Term shall end ten (10) years from on the date Expiration Date. Landlord shall be deemed to have tendered possession of the payment of rent commences as set forth in Section 4.1 Premises to Tenant upon the mutual execution and delivery of this Lease, unless sooner terminated it being understood that the Premises are vacant, in the condition required by this Lease (except for Landlord’s performance of Landlord’s Work pursuant hereto to Article 4 below) and available for Tenant’s occupancy (the "TERM"subject to Section 2.2(b) below). Promptly Notwithstanding the foregoing or anything to the contrary contained in Article 1 above, if Tenant is not legally permitted to occupy the Premises for the conduct of its business on August 1, 2009, as a result of any act or omission on the part of Landlord or Landlord’s agents or employees, and if Tenant does not occupy the Premises for the conduct of its business as a result thereof, then the Commencement Date shall not occur until Tenant is legally permitted to occupy the Premises for the conduct of its business; provided, however, if the Commencement Date has not occurred on or before October 1, 2009, then Tenant shall have the right to terminate this Lease, which right shall be exercisable only by written notice to Landlord delivered not earlier than October 2, 2009, and not later than the earlier to occur of (i) the date on which the Commencement Date occurs, and (ii) October 10, 2009. At any time following the Commencement Date, Landlord and shall have the right to deliver to Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") notice in the form as set forth in Exhibit G, attached hereto hereto, as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery a confirmation only of the Premises which is caused solely by Landlord. Provided information set forth therein, which, if accurate, Tenant has not been in default during the Term of the Lease, shall execute and return to Landlord hereby grants Tenant the right to renew the Lease for one (1) additional within five (5) year periodbusiness days of receipt thereof; provided, at however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the greater information set forth in such notice is as specified therein. For purposes of determining whether Tenant has accepted possession of the then current Basic Rent increased 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 and/or commences construction, except to the extent that Tenant is authorized in accordance with this Lease or at the then current fair market lease rental rate for the Building by Landlord’s agreement (such as determined by the Landlord. In order set forth in Section 2.2(b) below) to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end do any of the Term foregoing without being deemed to have accepted possession of its intention to renew this Leasethe Premises.
Appears in 1 contract
Samples: Lease Agreement (E2open Inc)
Commencement Date. The term As soon as Substantial Completion has been achieved, Tenant shall notify Landlord in writing (i) of this Lease shall commence on the date this Lease is executed of receipt of the TCO, (ii) that the "Tenant Improvements are Substantially Complete as certified by Tenant’s Architect, in accordance (in all material respects) with the Working Drawings and permits. Provided that Landlord has delivered the Premises to Tenant in the Required Condition, the “Commencement Date") and ,” shall end ten (10) years from be the earlier of January 1, 2021, as such date may be extended by Landlord Delay or Excused Delays, or the date of Substantial Completion. If Substantial Completion has occurred on or before January 1, 2020 but Landlord has not delivered the payment Premises to Tenant in the Required Condition, the Commencement Date shall be the date upon which Landlord has delivered the Premises to Tenant in the Required Condition. The failure of rent commences Tenant to occupy the Premises as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord as finally determined after the cessation of any Excused Delays and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum Landlord’s delivery of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant in the Required Condition, shall not serve to relieve Tenant of obligations arising on the date specified in Landlord's notice given pursuant Commencement Date or to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery the payment by Tenant of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Base Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew and other amounts due under this Lease.
Appears in 1 contract
Samples: Lease (Bloom Energy Corp)
Commencement Date. Upon the Effective Date, the terms and provisions hereof shall be fully binding on Landlord and Tenant. The term Term of this Lease shall commence on the date Commencement Date. Unless sooner terminated or extended as may be hereinafter provided, the Term shall end on the Expiration Date. If Landlord does not tender possession of the Premises to Tenant on or before any particular date, for any reason whatsoever, Landlord shall not be liable for any damage thereby, this Lease is executed (shall not be void or voidable thereby, and the "Term shall not commence until the Commencement Date") , subject to the terms of this Section 2.2 below. Landlord shall be deemed to have tendered possession of the Premises to Tenant upon the giving of notice by Landlord to Tenant stating that the Premises are vacant, in the condition required by this Lease and shall end ten (10) years from the date the payment of rent commences available for Tenant's occupancy. Except as set forth in Section 4.1 2.2, below, no failure to tender possession of the Premises to Tenant on or before any particular date shall affect any other obligations of Tenant hereunder. There shall be no postponement of the 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 relating to the construction of the Tenant Improvements. At any time during the Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit G, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) days of receipt thereof; provided, however, Tenant's failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. Landlord shall use commercially reasonable efforts to cause the Premises to be Ready for Occupancy on or before April 1, 2019, provided that this Lease is fully executed and delivered by Landlord and Tenant on or before September 30, 2018. Notwithstanding anything to the contrary set forth herein, but subject to the terms of this Leaseprovision below, unless sooner terminated pursuant hereto in the event that the Tenant Improvements are comprised of general office improvements, and Landlord fails to cause the Premises to be Ready for Occupancy on or before May 1, 2019 (the "TERMRent Credit Date") for any reason other than an Unavoidable Delay or a Tenant Delay, then Tenant shall be entitled to an abatement of one (1) day of Fixed Rent attributable to the Premises for the number of days commencing as of the day immediately following the Rent Credit Date and continuing through the date that the Premises are Ready for Occupancy. In the event that Tenant Improvements are not comprised of general office improvements, then the Rent Credit Date shall be July 1, 2019. In the event that Tenant is entitled to an abatement of Fixed Rent pursuant to the terms of this Section 2.2, such abatement of Fixed Rent shall be credited towards Tenant's obligation to pay Fixed Rent for the Premises commencing as of the day immediately following the expiration of the seventh (7th) month of the Term. Tenant's right to an abatement of Fixed Rent as set forth in this Section 2.2 shall be Tenant's sole and exclusive remedy at law or in equity for Landlord's failure to cause the Premises to be Ready for Occupancy on or prior to the Rent Credit Date. The Rent Credit Date shall be extended on a day-for-day basis to the extent of any Unavoidable Delay, any Tenant Delay or in the event that the Lease is not fully executed and delivered by Landlord and Tenant on or before September 30, 2018. 789956.06/WLA 377061-00006/sb/sb Arboretum Courtyard [Catasys, Inc.] Notwithstanding anything to the contrary set forth herein, in the event that Landlord fails to cause the Premises to be Ready for Occupancy on or before the date that is one (1) year following the full execution and delivery of this Lease (the "Outside Date") for any reason other than an Unavoidable Delay or a Tenant Delay, then, except as set forth above, the sole remedy of Tenant for such failure shall be the right to deliver a notice to Landlord (a "Election Notice") electing to terminate this Lease effective upon the date occurring ten (10) Business Days following receipt by Landlord of the Election Notice (the "Effective Termination Date"). Promptly The Election Notice must be delivered by Tenant to Landlord, if at all, not earlier than the Outside Date (as the same may be extended pursuant to the terms below) nor later than ten (10) Business Days after the Outside Date. In the event that Tenant fails to deliver to Landlord the Election Notice within ten (10) Business Days following the Commencement Outside Date, then Tenant shall be deemed to have waived its right to terminate the Lease pursuant to the terms of this Section 2.2. The Outside Date shall be extended to the extent of any Unavoidable Delay or any Tenant Delay. Upon any termination as set forth in this Section 2.2, Landlord and Tenant shall confirm the Commencement Date be relieved from any and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease all liability to each other resulting hereunder except that Landlord shall not be void, voidable or subject to termination, nor shall Landlord be liable return to Tenant for any loss prepaid rent or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one Security Deposit (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of extent the Term of its intention same has been paid by Tenant to renew this LeaseLandlord).
Appears in 1 contract
Samples: Lease (Catasys, Inc.)
Commencement Date. The term of this Lease (“Lease Term”) shall commence be for the period specified in Paragraph 1.5 above, commencing on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 Paragraph 1.6 (“Commencement Date”); provided, however, if Landlord does not deliver the Premises in the Delivery Condition referred to in Paragraph 2.4 above on or before April 1, 2011, then the Commencement Date of this LeaseLease shall be the date Landlord delivers the Premises to Tenant in the Delivery Condition required above, unless sooner terminated pursuant hereto the Ending Date shall be the date sixty-nine (69) months following the "TERM")date Landlord delivers the Premises to Tenant in the Delivery Condition and no base Rent shall be due for the first nine (9) months following the date of such delivery of the Premises to Tenant in the Delivery Condition. Promptly following the Commencement DateDate of this Lease, upon presentation of the same to Tenant, Landlord and Tenant shall confirm the Commencement Date and Ending Date in writing, by completing and executing the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") Letter in the form of Exhibit D attached hereto. Tenant’s failure to execute and deliver the letter attached hereto as Exhibit "B." This Lease D within ten (10) 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 not be void, voidable or subject to termination, nor shall Landlord be liable to a Default by Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2hereunder, but no rent hereunder the failure of either party to execute and deliver such letter shall be payable hereunder with respect to any delay in delivery of not change the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased Commencement Date as determined in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the LandlordLease. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end The expiration of the Lease Term or sooner termination of its intention this Lease is referred to renew this Leaseherein as the “Lease Termination.”
Appears in 1 contract
Samples: Net Lease Agreement (Proteinsimple)
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 term Term of this Lease shall commence on the date Commencement Date. Unless sooner terminated or extended as hereinafter provided, the Term shall end on the Expiration Date. Landlord hereby represents that the Premises shall be vacant, in the condition required by this Lease is executed (the "Commencement Date") and Landlord shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant for Tenant’s occupancy on March 15, 2009 for the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery purpose of Tenant’s construction of the Premises which is caused solely by Landlordinitial Improvements in the Premises. Provided Tenant has not been Notwithstanding any provision to the contrary contained in default during the Term of the this Lease, Landlord hereby grants Tenant shall have the right to renew occupy the Lease Premises for one the conduct of its business prior to the commencement of the Term commencing on March 15, 2009 and continuing through August 31, 2009, provided that (1A) additional Tenant shall give Landlord at least five (5) year period, at the greater days’ prior notice of any such occupancy of the then current Basic Rent increased in accordance with Premises, (B) a temporary certificate of occupancy or the legal equivalent allowing legal occupancy of the Premises shall have been issued by the appropriate Governmental Authorities for each such portion of the Premises to be occupied, and (C) all of the terms and conditions of this Lease or at shall apply, other than Tenant’s obligation to pay Fixed Rent, as though the then current fair market lease rental rate for Commencement Date had occurred (although the Building as determined by Commencement Date shall not actually occur until the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum occurrence of six (6) months written notice prior the same pursuant to the end terms of this Section 2.2) upon such occupancy of the Term of its intention to renew this LeasePremises by Tenant.
Appears in 1 contract
Samples: Sublease Agreement (Sunrun Inc.)
Commencement Date. The term of this Lease shall commence on the date this Lease is executed (the "Commencement Date"" shall mean the earlier of: (i) and shall end ten (10) years from the date the payment "Tenant Improvements" have been "Substantially Completed" (as such terms are defined in Exhibit B attached hereto) except for such work as Landlord is required to perform but cannot complete until Tenant performs necessary portions of rent commences construction work it has elected or is required to do; or (ii) thirty (30) days after the date Landlord notifies and permits Tenant to have early occupancy of part of the Premises as set forth provided in Section 4.1 PARA 12.5 hereof, which is estimated to be the date Landlord obtains possession of this Leasethe Premises from the existing tenant (whose lease is scheduled to expire on February 14, unless sooner terminated pursuant hereto (the "TERM"2000). Promptly following To the Commencement Date, Landlord and Tenant shall confirm extent the Commencement Date and is delayed due to any `Tenant Delay" (as defined in Exhibit B attached hereto), then the expiration calculation of the date by executing and delivering a Memorandum of under clause (i) above shall be deemed the date the Tenant Improvements would have been Substantially Completed (as defined in Exhibit B) but for such Tenant Delay, Tenant acknowledges that the Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice may occur prior to the end of date the Term of Tenant Improvements will be Substantially Completed or when Tenant may physically occupy the Premises. However, Landlord covenants and agrees to use its intention commercially reasonably efforts to renew this Leaseconstruct the Tenant Improvements with due diligence. Notwithstanding the date for the Commencement Date provided above, Tenant may have early access to the Premises as provided in Section 2.5 hereof.
Appears in 1 contract
Samples: Lease Agreement (Bookham, Inc.)
Commencement Date. If improvements are to be erected upon the Leased Premises pursuant to a separate Leasehold Improvements Agreement between Lessor and Lessee, as described in Section 6.1, and the "Commencement Date" shall be the earlier of the date Lessee begins operating its business in the Leased Premises or the scheduled "Commencement Date" as stated herein; and if no improvements are to be erected upon the Leased Premises pursuant to a Leasehold Improvements Agreement, the Commencement Date shall be the earlier of the date Lessee begins operating its business in the Leased Premises or March 15 , 1997 (the "Commencement ----------- - ------------ Date"). The Commencement Date shall constitute the commencement of the term of ---- this Lease shall commence on the date for all purposes, whether or not Lessee has actually taken possession. If this Lease is executed (before the "Commencement Date") Leased Premises become vacant or otherwise available and shall end ten (10) years from ready for occupancy by Lessee, or if any present occupant of the date Leased Premises holds over and Lessor cannot acquire possession of the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following Leased Premises before the Commencement Date, Landlord and Tenant then (a) Lessee's obligation to pay rent hereunder shall confirm be waived until Lessor tenders possession of the Leased Premises to Lessee, (b) the term shall be extended by the time between the scheduled Commencement Date and the expiration date by executing and delivering a Memorandum on which Lessor tenders possession of the Leased Premises to Lessee (which date will then be defined as the Commencement Date Date), ("MEMORANDUM"c) in the form attached hereto as Exhibit "B." This Lease Lessor shall not be void, voidable in default hereunder or subject to termination, nor shall Landlord be liable to Tenant for any loss or damagedamages therefore, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder and (d) Lessee shall be payable hereunder with respect to any delay in delivery accept possession of the Leased Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right when Lessor tenders possession thereof to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseLessee.
Appears in 1 contract
Commencement Date. The term If improvements are to be erected upon the Leased Premises pursuant to a separate Leasehold Improvements Agreement between Lessor and Lessee, as described in Section 6.1, and the "Commencement Date" shall be the earlier of this Lease shall commence on the date this Lease is executed Lessee begins operating its business in the Leased Premises or the scheduled "Commencement Date" as stated herein; and if no improvements are to be erected upon the Leased Premises pursuant to a Leasehold Improvements Agreement, the Commencement Date shall be the earlier of the date Lessee begins operating its business in the Leased Premises or July 5 , 2000 (the "Commencement Date") and ). The Commencement Date shall end ten (10) years from constitute the date commencement of the payment of rent commences as set forth in Section 4.1 term of this LeaseLease for all purposes, unless sooner terminated pursuant hereto (whether or not Lessee has actually taken possession. If this Lease is executed before the "TERM"). Promptly following Leased Premises become vacant or otherwise available and ready for occupancy by Lessee, or if any present occupant of the Leased Premises holds over and Lessor cannot acquire possession of the Leased Premises before the Commencement Date, Landlord and Tenant then (a) Lessee's obligation to pay rent hereunder shall confirm be waived until Lessor tenders possession of the Leased Premises to Lessee, (b) the term shall be extended by the time between the scheduled Commencement Date and the expiration date by executing and delivering a Memorandum on which Lessor tenders possession of the Leased Premises to Lessee (which date will then be defined as the Commencement Date Date), ("MEMORANDUM"c) in the form attached hereto as Exhibit "B." This Lease Lessor shall not be void, voidable in default hereunder or subject to termination, nor shall Landlord be liable to Tenant for any loss or damagedamages therefore, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder and (d) Lessee shall be payable hereunder with respect to any delay in delivery accept possession of the Leased Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right when Lessor tenders possession thereof to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseLessee.
Appears in 1 contract
Commencement Date. The term Commencement Date and Tenant's obligation to pay rent under the Lease shall be governed by Section 3 of the Lease. However, if there shall be a delay ("Tenant Delay") beyond the scheduled Commencement Date in the substantial completion of the Improvements as a result of:
7.1. Tenant's failure to submit or revise the Space Plan within the time limits provided herein;
7.2. Tenant's failure to submit or revise the Plans within the time limits provided herein;
7.3. Tenant's failure to approve the Cost Breakdown or to pay the sum specified in Section 5.2 above within the time limits provided herein;
7.4. Tenant's request for Non-Standards, whether as to materials or installation, that extend the time it takes to obtain necessary building permits or other governmental authorizations or extends the time for the construction period;
7.5. Insufficiency of the Plans that extends the time it takes to obtain necessary building permits or other governmental authorizations or changes in the Plans required by the applicable governmental regulatory agencies reviewing the Plans;
7.6. Tenant's changes in the Plans after the approval by Landlord; or
7.7. Any other act or omission of Tenant constituting a Tenant Delay under the terms of this Agreement; then the Commencement Date of the Lease shall commence on be accelerated one day for each day of Tenant Delay that delays the date this Lease is executed (commencement date, calculated as follows: Upon substantial completion of the "Commencement Date") and Improvements, Landlord shall end ten (10) years from notify Tenant of the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the accelerated Commencement Date, Landlord and Tenant which date shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on represent the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery upon which the substantial completion of the Premises which is caused solely by Landlord. Provided Tenant has not been Improvements (as defined in default during the Term Section 3.4 of the Lease, Landlord hereby grants ) would have occurred but for Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseDelays.
Appears in 1 contract
Samples: Deed of Lease (Jaymark Inc)
Commencement Date. The term of this Lease shall commence on the date this Lease is executed (the "“Commencement Date"”) and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "“TERM"”). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("“MEMORANDUM"”) in the form attached hereto as Exhibit "“B." ” This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's ’s inability to deliver the Premises to Tenant on the date specified in Landlord's ’s notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Lease.
Appears in 1 contract
Samples: Office Lease (Vestin Fund Iii LLC)
Commencement Date. The term Commencement Date shall be the later of this Lease shall commence on (i) the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and notifies Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver that the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect vacated, which shall in no event be later than ninety (90) days subsequent to any delay in delivery the Effective Date; or (ii) when the Tenant Improvements are Substantially Completed. Substantially completed shall be defined to be when (i) all of the Tenant Improvements have been completed in accordance with all plans and specifications approved by Tenant (minor punch list items excepted), (ii) all Building services are available to the Premises; and (iii) the Premises which is caused solely by Landlordhas received a certificate of occupancy or other governmental authorization allowing Tenant to legally occupy the Premises. Provided Tenant has not provided to Landlord Certificates of Insurance for the Premises as required within this Lease Agreement, and the Premises have been in default during vacated by the Term of prior tenant, or Landlord has obtained consent from the Leaseprior tenant, Landlord hereby grants Tenant shall have the right to renew access to the Lease for one Premises thirty (130) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice days prior to the end Commencement Date for the purpose of installing furniture, fixtures, data, telephone systems and cabling, without an obligation to pay Rent at the Premises during such period of time. Tenant shall not interfere with any of the Term Landlord’s contractors, subcontractors or workers completing the Tenant Improvements at the Premises during such period of time in which the Tenant accesses the Premises or the purposes specifically set forth herein, and Tenant shall due so at its intention own risk, without liability on behalf of the Landlord for personal injury or damage to renew this LeaseTenant’s furniture, fixtures and cabling.
Appears in 1 contract
Samples: Office Lease (Towerstream Corp)
Commencement Date. The term of this Lease shall commence March 1, 1998 ------------------ In the event the Leased Premises are not ready for occupancy by Tenant on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, because Tenant's leasehold improvements are not substantially complete, or, for any other reason, the obligations of Landlord and Tenant shall confirm nevertheless continue in full force and effect, but if the Leased Premises are not ready for occupancy for reasons other than (a) any delay in the completion of Tenant's Plans (as hereinafter defined) beyond March 1, 1998, due to Tenants failure to work and cooperate with Landlord in connection therewith, or (b) any delay in the installation of Tenant's leasehold improvements due to any change in or addition to the work called for by Tenants Plans as ordered by Tenant, then the Base Rental provide in Section 1.12 (a) hereof, shall xxxxx and not commence until the date the leasehold improvements to the leased Premises are substantially complete; such abatement of Base Rental shall constitute full settlement of all claims that Tenant may otherwise have against Landlord by reason of the Leased Premises not being ready for occupancy by Tenant on the Commencement Date, the Term shall be extended by the period of time which elapses between the Commencement Date and the expiration date that the Leased Premises are ready for occupancy by executing Tenant and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject parties agree to termination, nor shall Landlord be liable to Tenant for execute an agreement between them confirming any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery such extension of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this LeaseTerm.
Appears in 1 contract
Commencement Date. The term of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following ) will commence on the Commencement Date and will end on the Termination Date. Upon taking occupancy of the Premises, Landlord and Tenant shall confirm agrees to sign the Certificate of Commencement Date attached to this Lease as EXHIBIT G confirming the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver Termination Date. If the Premises to are not ready for occupancy by Tenant on the Commencement Date for any reason other than a "Tenant Delay" (as defined in the Workletter, if any, attached to this Lease as EXHIBIT F (the "WORKLETTER"), then (a) Tenant's obligation to pay Base Rent and Additional Rent (as defined in Section 3 below) will be waived until the Possession Date, which is the earlier of (i) three (3) business days after Landlord notifies Tenant that the Premises are "substantially completed" (as defined in this Section 2.1), or (ii) the date specified Tenant moves into the Premises; (b) the Term will be extended by the time between the scheduled Commencement Date and the Possession Date; and (c) Landlord will not be in Landlord's notice given pursuant to default under this Lease, or be liable for damages as a result of any delay. For purposes of this Section 3.22.1, but no rent hereunder shall be payable hereunder with respect to any delay in delivery substantial completion means that state of completion of the Premises which is caused solely by Landlord. Provided will, except for any special finishing work to be performed, allow Tenant has not been in default during to utilize the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate Premises for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew purpose permitted under this Lease.
Appears in 1 contract
Samples: Lease Agreement (Hotjobs Com LTD)
Commencement Date. The term (a) “Commencement Date” means the later of this Lease shall commence on (i) the first to occur of the Tranche A Commencement Date and the Tranche B Commencement Date and (ii) January 1, 2006. “Tranche A Commencement Date” means the earlier of (A) the date this Lease is executed on which Landlord’s Work in respect of the Tranche A Space has been Substantially Completed in accordance with Exhibit E annexed hereto and (B) the "date Tenant first takes occupancy of any material portion of the Tranche A Space for the conduct of business. “Tranche B Commencement Date"” means the earlier of (A) and shall end ten (10) years from the date on which Landlord’s Work in respect of the payment Tranche B Space has been Substantially Completed in accordance with Exhibit E annexed hereto and (B) the date Tenant first takes occupancy of rent commences as set forth in Section 4.1 any material portion of this Lease, unless sooner terminated pursuant hereto (the "TERM")Tranche B Space for the conduct of business. Promptly following After the occurrence of each of the Tranche A Commencement Date and Tranche B Commencement Date, upon request of either party, Landlord and Tenant shall promptly confirm by a separate instrument such date, the Tranche A Rent Commencement Date or the Tranche B Rent Commencement Date, as applicable, and the expiration date by executing Expiration Date; provided, that the failure to execute and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease deliver such instrument shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver affect the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery determination of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased such dates in accordance with this Lease or at Article 1. Pending the then current fair market lease rental rate for the Building resolution of any dispute as determined by the Landlord. In order to exercise its renewal optionany of such dates, Tenant shall give Landlord a minimum pay Rent based upon Landlord’s determination. Any dispute as to any of six (6) months written notice prior to such dates shall be determined by arbitration in accordance with the end provisions of the Term of its intention to renew this LeaseSection 8.09.
Appears in 1 contract
Samples: Lease (Bowne & Co Inc)
Commencement Date. The term of this Lease shall commence on the date this Lease is executed (specified in Section 1(b), or on such earlier or later date as may be specified by written notice delivered by Landlord to Tenant advising Tenant that the "Premises are ready for possession and specifying the Commencement Date") and , which shall end not be less than ten (10) years from days following the date of such notice. If Tenant occupies the payment of rent commences as set forth Premises before the Commencement Date specified in Section 4.1 1(b), then the Commencement Date shall be the date of occupancy. If Landlord acts diligently to make the Premises available to Tenant, neither Landlord nor any agent or employee of Landlord shall be liable for any damage or loss due to Landlord's inability or failure to deliver possession of the Premises to Tenant as provided in this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following The Termination Date shall be modified upon any change in the Commencement DateDate so that the length of the Lease term is not changed. If Landlord does not deliver possession of the Premises to Tenant within ninety days (90) after the date specified in Section 1(b), Tenant may elect to cancel this Lease by giving written notice to Landlord within 10 days after such time period ends. If Tenant gives such notice, the Lease shall be cancelled, all prepaid rent and security deposits shall be refunded to tenant, and neither Landlord nor Tenant shall confirm have any further obligations to the other. The first "Lease Year" shall commence on the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant end on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one twelve (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (612) months written notice prior to from the end of the Term month in which the Commencement Date occurs. Each successive Lease Year during the initial term and any extension terms shall be twelve (12) months, commencing on the first day following the end of its intention to renew this Leasethe preceding Lease Year, except that the last Lease Year shall end on the Termination Date.
Appears in 1 contract
Samples: Lease Agreement (Virage Logic Corp)
Commencement Date. The term of this Lease shall commence Unless in whole or in part caused by Tenant ----------------- Delays (defined in the Work Letter), if Landlord is unable to deliver the Premises on the Commencement Date because any of the Improvements (defined in the Work Letter) are not substantially completed, a certificate of occupancy (temporary or permanent) has not been obtained, or due to holding over by any present tenant, neither Landlord nor Landlord's Agents will be liable for direct or consequential damages, but: (a) the Commencement Date will be the date this Lease the Premises are available for occupancy as defined in Exhibit "C", attached hereto, ----------- and (b) Rent will xxxxx for the period by which Tenant's occupancy is executed (delayed. The Termination Date will not be adjusted for the "Commencement Date") and shall end delay. Within ten (10) years from the date the payment days of rent commences as set forth in Section 4.1 of this LeaseTenant's receipt thereof, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Tenant must execute and return to Landlord and Tenant shall confirm a statement specifying the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Termination Date ("MEMORANDUM") in the form attached of Exhibit ------- "D" hereto attached. Notwithstanding the foregoing, if the Commencement Date is --- later than January 1, 2002 other than by reason of an event of force majeure or by reason of a Tenant Delay or an Excused Delay as described in Exhibit "B." This Lease shall not be voidC", voidable or subject ----------- Landlord will pay to terminationTenant, nor shall Landlord be liable in satisfaction of any damages which Tenant may suffer due to such delay, the amount of holdover rent that Tenant must and does pay under its prior lease for any loss or damage55,486 square feet, resulting from Landlorddated December 19, 1994 (and as amended), with Tenant's inability prior landlord, EOP-North Central Plaza III, Limited Partnership, due to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2such delay, but no rent hereunder shall be payable hereunder with respect only to any delay in delivery of the Premises extent that such amount exceeds the Base Rent which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with would pay under this Lease or at had there been no delay but excluding any consideration of free rental periods (the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Lease"Delay Damages").
Appears in 1 contract
Samples: Lease of Office Space (Diversified Corporate Resources Inc)
Commencement Date. The term date on which the Demised Premises has been substantially completed in accordance with the requirements of this Lease Exhibit "A", Landlord's Work Letter. Any entry by Tenant or Tenant's representative or agent prior to the Commencement Date shall commence on be subject to all the date this Lease is executed (the "Commencement Date") terms and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 conditions of this Lease, unless sooner terminated pursuant hereto (other than with respect to the payment of Fixed Rent and those recurring Additional Rent charges expressly identified herein as not commencing until the Rent Commencement Date. As an accommodation only and without any liability on the part of Landlord whatsoever, Landlord agrees to give Tenant 30 days prior notice of the anticipated Commencement Date. At Landlord's or Tenant's request after the Rent Commencement Date shall have been determined, Tenant and Landlord shall execute and deliver duplicate originals of an agreement, substantially in the form of Exhibit "TERM"). Promptly following C" attached hereto, setting forth the Commencement Date, Landlord the Rent Commencement Date, the date of expiration of the Initial Term, the commencement and Tenant shall confirm expiration dates of any Extended Period and the Floor Space of the Demised Premises. Notwithstanding anything to the contrary contained in this Lease, it is understood and agreed that in the event that the Commencement Date shall not have occurred on or before October 1, 1999, Tenant may terminate this Lease by written notice given to Landlord at any time thereafter; provided, however, that any such notice of termination given by Tenant shall be deemed null and the expiration date by executing void and delivering a Memorandum of Commencement Date ("MEMORANDUM") no further force and effect in the form attached hereto as Exhibit "B." This Lease event that Landlord shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver such possession of the Demised Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect prior to any delay in delivery such notice of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Leasetermination from Tenant.
Appears in 1 contract
Samples: Lease (Dm Management Co /De/)
Commencement Date. Landlord shall give Tenant no less than forty-five (45) days prior notice of the date on which the Demised Premises will be ready for delivery to Tenant and for the commencement of Tenant's Work (herein called "Tenant Work Date"). The Commencement Date for the term of this Lease shall be the earlier of (1) sixty (60) days after Tenant's Work Date; or (2) the day on which Tenant opens the Premises for business. Rent and additional charges will commence to accrue on the date this Lease is executed (the "such Commencement Date") and shall end . Within ten (10) years from days following request therefore by Landlord or Tenant, the parties shall execute an agreement on Landlord's form setting forth the commencement and expiration dates of this Lease in the form annexed hereto as Exhibit C ("CDA"), provided, that it is understood that the purpose of the CDA is solely to have a formal written confirmation of the Commencement Date as shall be determined based on the criteria set forth above; and, accordingly, the signing and delivery of a CDA shall not be a pre-condition to Tenant's obligation to commence payment of the fixed monthly rent as of the date that in fact shall constitute the payment Commencement Date based on the applicable criteria. Upon Tenant's entry into possession of rent commences as set forth in Section 4.1 the Premises for commencement of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following Tenant's Work or for any other purpose prior to the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum become subject to all terms, provisions, covenants, conditions and/or obligations of Commencement Date this Lease imposed upon Tenant (sometimes herein referred to collectively as "MEMORANDUMObligations") in as if the form attached hereto as Exhibit "B." This Lease shall not be voidTerm has commenced, voidable or subject except for the obligation to termination, nor shall Landlord be liable to Tenant pay the fixed monthly rent for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice period prior to the end of the Term of its intention to renew this LeaseCommencement Date.
Appears in 1 contract
Commencement Date. The term (a) Except as provided in Section 3.2 b below, the Commencement Date shall be deemed to be the date Landlord delivers to Tenant written notice of this Lease substantial completion by Landlord of the Tenant Improvements (as defined in Exhibit E) and Rent shall commence to accrue as of said date. Landlord and Tenant shall execute and deliver a memorandum in the form of Exhibit "C" attached hereto setting forth the actual Commencement Date and Expiration Date of the Term within five (5) days after Landlord's delivery of said notice to Tenant. The failure of Landlord to deliver possession of the Premises to Tenant on the date this Lease is executed (Target Commencement Date shall not affect the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 validity of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following Expiration Date or the Commencement Date, Landlord obligations of Tenant hereunder and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject construed to termination, nor extend the Term of this Lease and Landlord shall Landlord not be liable to Tenant for any loss or damagedamage resulting therefrom.
(b) Notwithstanding any other provision of this Lease, resulting from Landlord's inability to deliver if Landlord is delayed in delivering possession of the Premises to Tenant on by reason of any act or omission of Tenant, including without limitation any act or omission deemed a "Tenant Delay" pursuant to Exhibit "E" attached hereto, then the Commencement Date shall be deemed to be the date specified that the Premises would have been tendered by Landlord to Tenant in Landlord's notice given pursuant the absence of the Tenant Delay and Rent shall commence to Section 3.2accrue as of said date, but no rent hereunder the Expiration Date shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Leaseremain unchanged.
Appears in 1 contract
Samples: Lease Agreement (Svi Solutions Inc)