Demise and Term. Landlord leases the Premises described in Section 1.2 above to Tenant and Tenant leases the Premises from Landlord subject to the provisions of this Lease; provided, however, the exterior walls and roof of the Premises and the area beneath the Premises are not demised hereunder, and the use thereof together with the right to install, maintain, inspect, use, repair and replace pipes, ducts, conduits, wires and structural elements leading through the Premises in locations which will not materially interfere with Tenant’s use thereof and serving other parts of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used herein, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this Lease. The Term of this Lease shall commence on the Commencement Date set forth in Section 1.6 and shall end on the Termination Date set forth in Section 1.8 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver the Premises for any reason, Landlord shall not be subject to any liability for the failure to deliver possession, but the Commencement Date shall be delayed until possession of the Premises is delivered to Tenant. Each party agrees, at the request of the other, to execute and deliver an instrument confirming the actual Commencement Date and Rent Commencement Date when determined. In the event that Landlord’s Work is not substantially complete in accordance with Section 5 of this Lease by May 1, 2007, the Landlord shall pay Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1, 2007 that Landlord’s Work is not substantially complete.
Appears in 1 contract
Demise and Term. (a) Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises described in Section 1.2 above Item 1 of the Schedule and shown on the plan attached hereto as Exhibit A, and Landlord grants to Tenant a non-exclusive right and Tenant leases easement to utilize for parking by employees and business invitees only the Premises from Landlord subject to entire surface parking lot on the provisions of this Lease; providedland on which the Building is located, however, for a term (the exterior walls and roof “Term”) commencing on the date (the “Term Commencement Date”) described in Item 10 of the Premises Schedule and expiring on the area beneath date (the Premises are not demised hereunder, and the use thereof together with the right to install, maintain, inspect, use, repair and replace pipes, ducts, conduits, wires and structural elements leading through the Premises “Term Expiration Date”) described in locations which will not materially interfere with Tenant’s use thereof and serving other parts Item 11 of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used hereinSchedule, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction unless extended or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect terminated as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as otherwise provided in this Lease. The Term of this Lease shall commence on the Commencement Date set forth in Section 1.6 and shall end on the Termination Date set forth in Section 1.8 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver creates reserved parking areas in the Premises for any reasonsurface parking lot, Landlord shall not be subject assign reserved spaces to any liability for the failure Tenant equal to deliver possession, but the Commencement Date shall be delayed until possession Tenant’s Proportionate Share of the Premises is delivered to Tenanttotal number of reserved spaces created. Each party agrees, For so long as Landlord owns at the request least 51 % of the otheroutstanding stock of Tenant, Tenant agrees to execute and deliver an instrument confirming the actual Commencement Date and Rent Commencement Date when determined. In the event that Landlord’s Work is not substantially complete assign reserved spaces to its employees in accordance with Section 5 Landlord’s policies for the granting of reserved parking to its own employees.
(b) (i) Tenant is hereby granted three (3) three (3) year options to renew the Lease (“Renewal Option”). If the Tenant desires to exercise the Renewal Option, it shall so notify the Landlord, in writing, not later than the first day of the ninth (9th) month prior to the then current expiration date of the Term. Within thirty (30) days following its receipt of Tenant’s notice of its desire to exercise the Renewal Option, given at the time and in the manner provided above, Landlord shall prepare and transmit to Tenant an appropriate amendment to this Lease extending the Term for three (3) years (“Extended Term”) and specifying (1) the Base Rent for such extension, which shall be the base rental rate then being offered and accepted by May 1landlords in the area in which the Building is located to other tenants of comparable size and location renewing leases in comparable buildings taking into account all applicable base rent escalations, 2007rental and other concessions, abatements, allowances, commissions and tenant improvements, if any, given to such other tenants, all as reasonably determined by Landlord (the Landlord shall pay “Fair Market [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Blackhawk Lease Deer Valley Corporate Center Phoenix, AZ Rent”) and (2) that all other terms and conditions during the Extended Term are the same as those during the Term. If Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1, 2007 that disagrees with Landlord’s Work is not substantially completeestimation of the Fair Market Rent, it must so notify Landlord in writing within ten (10) business days of Tenant’s receipt thereof and specify Tenant’s estimation of the Fair Market Rent. If the parties are unable to agree on the Fair Market Rent for the Extended Term after thirty (30) days following Landlord’s receipt of Tenant’s estimation of Fair Market Rent, Tenant may elect in writing to (x) promptly enter into arbitration in accordance with the provisions of subsection (b)(ii) hereof or (y) revoke its election to exercise the Renewal Option.
(ii) If the parties fail to agree on the Fair Market Rent, such matter shall be submitted to arbitration as hereinafter provided. Landlord and Tenant shall each appoint an impartial person as arbitrator who shall have had at least ten (10) years’ experience in the commercial real estate industry and hold the MAI designation. Such an appointment shall be signified in writing by each party to the other. In case either party shall fail to appoint an arbitrator within a period of ten (10) days after written notice from the other party to make such appointment, then the American Arbitration Association shall appoint a second arbitrator having the qualifications described above. The arbitrators so appointed shall appoint a third arbitrator, also having such qualifications, within ten (10) days after the appointment of the second arbitrator. In case of the failure of such arbitrators to agree upon a third arbitrator, such third arbitrator shall be appointed by the American Arbitration Association, or its successor, from its panel of arbitrators having the qualifications described above.
(iii) The arbitrators shall proceed with all reasonable dispatch to determine the Fair Market Rent by selecting either Landlord’s estimation or Tenant’s estimation of the Fair Market Rent. In no event shall the arbitrators have the right (i) to average the Fair Market Rent estimates submitted by Landlord or Tenant or (ii) to choose another number as the Fair Market Rent. The decision of the arbitrators shall in any event be rendered within thirty (30) days after their appointment, or within such other period as the parties shall agree, and such decision shall be in writing and in duplicate, one counterpart thereof to be delivered to each of the parties who appointed them. The arbitration shall be conducted in accordance with the rules of the American Arbitration Association (or its successor) and applicable Arizona law, and the decision of a majority of the arbitrators shall be binding, final and conclusive on the parties. The fees of the arbitrators and the expenses incident to the proceedings shall be shared equally by the parties, and each party shall bear the fees and costs of it own counsel and the fees of any expert witnesses and other witnesses called by such party. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Blackhawk Lease Deer Valley Corporate Center Phoenix, AZ
Appears in 1 contract
Samples: Office Space Lease (Blackhawk Network Holdings, Inc)
Demise and Term. Landlord leases the Premises described in Section 1.2 above to Tenant and Tenant leases the Premises from Landlord the premises (the “Premises”) described in Item 6 of the Schedule, subject to the provisions of covenants and conditions set forth in this Lease; provided, however, for a term (the exterior walls and roof “Term”) commencing on the date (the “Commencement Date”) described in Item 8 of the Premises Schedule and expiring on the area beneath date (the Premises are not demised hereunder, and the use thereof together with the right to install, maintain, inspect, use, repair and replace pipes, ducts, conduits, wires and structural elements leading through the Premises “Expiration Date”) described in locations which will not materially interfere with Tenant’s use thereof and serving other parts Item 9 of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used hereinSchedule, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect unless terminated earlier as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as otherwise provided in this Lease. The Term Upon the determination of the Commencement Date, Landlord and Tenant shall memorialize the Commencement Date and the Expiration Date in a written instrument. If the Delivery Date (as defined in Item 7 of the Schedule) does not occur on or prior to February 27, 1995, then Landlord shall provide to Tenant other space in the Building which space shall be substantially equivalent to the Premises in their present “as is” condition as of the date hereof (the “Temporary Premises”). Tenant shall have the right to occupy the Temporary Premises for the period from February 28, 1995 through the Delivery Date. Such occupancy shall be subject to all of the terms and conditions of this Lease except that Tenant shall commence on be under no obligation to pay Rent in connection with its occupancy of the Commencement Date set forth in Section 1.6 and shall end on the Termination Date set forth in Section 1.8 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver the Temporary Premises for any reason, Landlord shall not be subject to any liability such period (except for the failure to deliver possession, but the Commencement Date cost of Tenant’s electricity usage during such period which cost Tenant shall be delayed until possession of the Premises is delivered to Tenant. Each party agrees, at the request of the other, to execute and deliver an instrument confirming the actual Commencement Date and Rent Commencement Date when determined. In the event that Landlord’s Work is not substantially complete responsible for in accordance with Section 5 6.A of this Lease and except for the cost of any cleaning services provided by May Landlord which cost Tenant shall be responsible for). If the Delivery Date does not occur on or prior to April 1, 20071995, then Tenant may terminate this Lease by written notice thereof to Landlord at any time after April 1, 1995 but prior to the Delivery Date. If Tenant terminates this Lease pursuant to the immediately preceding sentence, then this Lease shall terminate without recourse to the parties hereto. Notwithstanding the foregoing, Tenant shall have the right to continue to occupy the Temporary Premises for not greater than ninety (90) days after the effective date of any such termination. Such occupancy shall be subject to all of the terms and conditions of this Lease except that Tenant shall be under no obligation to pay Rent in connection with its occupancy of the Temporary Premises for such period (except for the cost of Tenant’s electricity usage during such period which cost Tenant shall be responsible for in accordance with Section 6.A of this Lease and except for the cost of any cleaning services provided by Landlord which cost Tenant shall be responsible for). If Tenant continues to occupy all or any part of the Temporary Premises beyond such ninety (90) day period, such occupancy shall be subject to all of the terms and conditions of this Lease including, without limitation, the Landlord provisions of Section 2 of this Lease with respect to the payment of rent and the provisions of Section 18 of this Lease with respect to holding over (except that the obligation to pay rent during the period of such holding over shall pay Tenant be at the sum rate that would have been in effect had the first day after the end of Four Hundred Dollars such ninety ($400.0090) per day for each day past May 1, 2007 that Landlord’s Work is not substantially completeperiod been the Commencement Date hereof).
Appears in 1 contract
Demise and Term. Landlord leases the Premises described in Section 1.2 above to Tenant Tenant, and Tenant leases from Landlord, that certain leased premises described as follows: 000 X. Xxxxx xx Xxxxx, Xxxxxxxxxxx, Xxxxxxxx, Unit(s) " F", more particularly described as approximately 1600 square feet warehouse office space. Landlord shall furnish Tenant approximately 1600 square feet of office space located in the Premises from leased premises as part of the (1600) square feet of the cumulative leased space described: "AS IS" plus remodeling of existing "dark room" for office, new carpeting and paint with color choices by tenant with landlord approval. The original term of this Lease and Tenant's obligation to pay rent hereunder shall commence May 1, 2000, (hereinafter referred to as "Occupancy Date"), and continue for Three (3) years until April 30, 2003, (hereinafter referred to as "Termination Date"). If more space is needed after year two (2) and Landlord subject is unable to accommodate Tenant, Tenant shall have the option to buy out the remaining 1 year of the lease for one-third (1/3) of the Landlord's cost of carpet and paint. Notice of this event must be given in writing to Landlord three (3) months prior (on or before 1-31-02) to the provisions of this Lease; provided, however, the exterior walls and roof of the Premises and the area beneath the Premises are not demised hereunder, and the use thereof together with the right to install, maintain, inspect, use, repair and replace pipes, ducts, conduits, wires and structural elements leading through the Premises in locations which will not materially interfere with Tenant’s use thereof and serving other parts of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used herein, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both partiesyear 2 anniversary (4-30-02). If the floor area determined Commencement Date does not occur on the first day of a calendar month, the first Lease Year shall consist of the partial first month plus the following twelve (12) full calendar months. Tenant will be allowed access to the premises mid April for move-in accordance with and installation of phone data lines. If the foregoing differs from premises are not ready for occupancy by Occupancy Date, the floor area contained in Section 1.2 above, then the Base Rent Lease shall not commence until an occupancy permit is given to Landlord and Tenant’s Proportionate Share Termination Date shall be adjusted proportionately and Tenant to correspond to term. Any options to renew, if applicable, shall be obligated to pay governed by the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this Lease. The Term terms of this Lease shall commence on the Commencement Date set forth in Section 1.6 Exhibit bit "A" attached hereto and shall end on the Termination Date set forth in Section 1.8 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver the Premises for any reason, Landlord shall not be subject to any liability for the failure to deliver possession, but the Commencement Date shall be delayed until possession of the Premises is delivered to Tenant. Each party agrees, at the request of the other, to execute and deliver an instrument confirming the actual Commencement Date and Rent Commencement Date when determined. In the event that Landlord’s Work is not substantially complete in accordance with Section 5 of this Lease incorporated herein by May 1, 2007, the Landlord shall pay Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1, 2007 that Landlord’s Work is not substantially completereference.
Appears in 1 contract
Samples: Lease Agreement (Decorize Inc)
Demise and Term. 3.1 Landlord hereby leases the Premises described in Section 1.2 above Tenant's Space to Tenant for the Lease Term, and Tenant leases hereby rents the Premises Tenant's Space from Landlord subject to the provisions of this Lease; provided, however, the exterior walls and roof of the Premises and the area beneath the Premises are not demised hereunder, and the use thereof together with the right to install, maintain, inspect, use, repair and replace pipes, ducts, conduits, wires and structural elements leading through the Premises in locations which will not materially interfere with Tenant’s use thereof and serving other parts of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used herein, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this Lease. The Term of this Lease shall commence on the Commencement Date set forth in Section 1.6 and shall end on the Termination Date set forth in Section 1.8 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver the Premises for any reason, Landlord shall not be subject to any liability for the failure to deliver possession, but the Commencement Date shall be delayed until possession of the Premises is delivered to Tenant. Each party agrees, at the request of the other, to execute and deliver an instrument confirming the actual Commencement Date and Rent Commencement Date when determinedLease Term. In the event that Landlord’s Work is not substantially complete in accordance with Section 5 one or more portions of the Tenant's Space become ready for occupancy prior to the Completion Date, Tenant may take possession of any or all of such portions and upon Tenant taking such possession Rent shall begin to accrue, based upon the square footage of such portions of the Tenant's Space so occupied by Tenant. Such occupancy by Tenant shall be subject to all of the terms and conditions of this Lease; however, the term of this Lease shall not be deemed to have commenced until the Commencement Date.
3.2 If Tenant is permitted access to the premises prior to the Commencement Date for the purpose of installing fixtures or any other purpose permitted by May 1Landlord, 2007such early entry will be at Tenant's sole risk and subject to all the terms and provisions of this Lease as though the Commencement Date has occurred, except for the payment of monthly Basic Rent and monthly Common Area Cost Installment and Real Estate Tax Installment amounts which will commence on the Commencement Date. Tenant, its agents or employees will not interfere with or delay Landlord's completion of construction of the improvements, if any, and all rights of Tenant under this provision will be subject to the requirements of all applicable building codes and zoning requirements. Landlord shall pay has the right to impose such additional conditions on Tenant's early entry as Landlord, in its sole and reasonable discretion, deems appropriate, and will further have the right to require that Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1execute an early entry agreement, 2007 that Landlord’s Work is not substantially completecontaining such conditions, prior to tenant's early entry.
Appears in 1 contract
Samples: Lease Agreement (Novadel Pharma Inc)
Demise and Term. Landlord hereby leases the Premises described in Section 1.2 above and demises to Tenant and --------------- Tenant hereby leases from Landlord, subject to and with the Premises benefit of the terms, covenants, conditions and provisions of the Lease, as the same is affected by the provisions of this Lease Amendment, certain premises located on the first floor of the Building, consisting of approximately 8678 square feet, and shown on the plan attached as Exhibit A (the "Additional Premises"). With respect to the Additional Premises, the term will commence and the increased rent provisions described below will take effect 5 days after notice from Landlord subject to Tenant that Landlord's Work (as defined below) on the Additional Premises is substantially complete (the "Additional Premises Commencement Date"), and shall continue for the Term (as defined in the Lease), unless sooner terminated pursuant to the provisions of the Lease. The term "substantially completed" as used herein shall mean that the work to be performed by Landlord pursuant to Section 2 of this Lease; provided, however, Lease Amendment has been completed with the exterior walls and roof exception of: (a) minor items which can be fully completed without material interference with the use of the Premises and by Tenant for the area beneath Permitted Uses, (b) other items which because of the Premises season or weather or the nature of the item are not demised hereunderpracticable to do at the time and (c) items which are incomplete because of Tenant Delays, and which shall mean (i) the use thereof together with the right Tenant's failure to install, maintain, inspect, use, repair and replace pipes, ducts, conduits, wires and structural elements leading through the Premises in locations which will not materially interfere with Tenant’s use thereof and serving other parts of the Building are hereby reserved unto timely submit or approve plans hereunder or (ii) the Landlord. The actual floor area 's inability to timely obtain or install materials, fixtures or equipment requested by the Tenant which are not included in the Leased Premises and the Building may work to be remeasured performed by Landlord at any time during pursuant to Exhibit B, (iii) change orders submitted by Tenant for further alterations or additions, or (iv) the Term. As used herein, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion failure by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay to Landlord upon the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this Lease. The Term execution of this Lease shall commence on Amendment, the Commencement Date amount, if any, required to be paid for Tenant Improvements as set forth in Section 1.6 2 below. When the dates of the beginning and shall end on of the Termination Date set forth in Section 1.8 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver Term of the Additional Premises for any reason, Landlord shall not be subject to any liability for the failure to deliver possession, but the Commencement Date have been determined such dates shall be delayed until possession of the Premises is evidenced by a document in form for recording executed by Landlord and Tenant and delivered each to Tenant. Each party agrees, at the request of the other, to execute and deliver an instrument confirming the actual Commencement Date and Rent Commencement Date when determined. In the event that Landlord’s Work is not substantially complete in accordance with Section 5 of this Lease by May 1, 2007, the Landlord shall pay Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1, 2007 that Landlord’s Work is not substantially complete.
Appears in 1 contract
Demise and Term. Landlord leases the Premises described in Section 1.2 above to Tenant and Tenant leases the Premises described in Section 1.3 above from Landlord subject to the provisions of this Lease; provided, however, the exterior walls and roof of that any space in the Premises and the area beneath used for shafts, pipes, conduits, ducts, electrical or other utilities or Building facilities, as well as access thereto through the Premises are not demised hereunderfor the purposes of installation, and the use thereof together with the right to installoperation, maintainmaintenance, inspect, useinspection, repair and replace pipes, ducts, conduits, wires replacement are reserved to Landlord and structural elements leading through the Premises in locations which will not materially interfere with Tenant’s use thereof and serving other parts of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used herein, “floor area” means the number of square feet measured excluded from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this LeasePremises. The Term of this Lease shall commence on the Commencement Date set forth in Section 1.6 and shall end on the Termination Date set forth in Section 1.8 1.7 unless adjusted or sooner terminated as provided herein. If Landlord acknowledges that the Commencement Date set forth in Section 1.6 is not able to deliver an anticipated date when Tenant shall substantially complete Tenant’s Work (as defined in Section 5) on account of construction of the Premises as set forth on Exhibit C attached hereto. If Tenant shall be unable to substantially complete Tenant’s Work sufficient for any reasonoccupancy and in accordance with Section 5 and Exhibit C of this Lease, Landlord shall not be subject to any liability for the failure to deliver possession, but the Commencement Date shall be delayed until possession substantial completion and the Termination Date shall be extended for an equal period plus the number of days necessary to end the Premises Term on the last day of a month. Notwithstanding the foregoing, under no circumstances will the Commencement Date be delayed past that date which is delivered two hundred forty (240) days after the complete execution of this Lease and delivery of a copy to Tenant, except to the extent such delay is caused by Landlord, its agents, employees, or contractors. Each party agrees, at the request of the other, to execute and deliver an instrument in substantially the form attached hereto as Exhibit D confirming the actual Commencement Date and Rent Commencement the Termination Date when determined. In the event that Landlord’s Work is not substantially complete in accordance with Section 5 of this Lease by May 1, 2007, the Landlord shall pay Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1, 2007 that Landlord’s Work is not substantially complete.
Appears in 1 contract
Samples: Lease (Exact Sciences Corp)
Demise and Term. Landlord leases the Premises described in Section 1.2 above to Tenant and Tenant leases the Premises described in Section 1.3 above from Landlord subject to the provisions of this Lease; provided, however, the exterior walls and roof of the Premises and the area beneath the Premises are not demised hereunder, and the use thereof together with the right to install, maintain, inspect, use, repair and replace pipes, ducts, conduits, wires and structural elements leading through the Premises in locations which will not materially interfere with Tenant’s use thereof and serving other parts of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used herein, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this Lease. The Term of this Lease shall commence on the Commencement Date set forth in Section 1.6 and shall end on the Termination Date set forth in Section 1.8 1.7 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver the Premises for any reasonshall, Landlord shall not be subject to force majeure events (as more particularly set forth in Section 38) and Tenant Delays (as defined in Exhibit C), complete the various phases of Landlord’s Work under Exhibit C hereto on or before the date set forth for substantial completion of same in Schedule C-1 (as applicable, and subject to force majeure events and Tenant Delays as aforesaid, the “Scheduled Completion Date”). Provided this Lease is signed by Tenant on or before August 9, 2018, then, to the extent Landlord fails to substantially complete any liability for portion of Landlord’s Work with a Scheduled Completion Date of December 15, 2018 (the failure to deliver possession“Phase One Work”) by January 15, but the Commencement Date 2019, all Base Rent and other amounts otherwise owed hereunder shall be delayed abated on a day-for-day basis until possession such portion of Landlord’s Work is substantially complete. In addition, in the event Landlord has not substantially completed all of the Premises is delivered Phase One Work on or before June 15, 2019, Tenant may elect to Tenantterminate this Lease by written notice to Landlord on or before June 20, 2019. Further, in the event Landlord has not substantially completed all of Landlord’s Work on or before December 15, 2019, Tenant may elect to terminate this Lease by written notice to Landlord on or before December 20, 2019. Each party agrees, at the request of the other, to execute and deliver an instrument in substantially the form attached hereto as Exhibit D confirming the actual Commencement Date and Rent Commencement the Termination Date when determined. In Subject to applicable laws, statutes, ordinances and governmental rules, regulations or requirements, Tenant shall have access to, and the event that right to operate from, the Premises twenty-four (24) hours per day, seven (7) days per week, three hundred sixty-five (365) days per year. Landlord shall work with Tenant to provide Tenant early access to the Premises commencing December 15, 2018 for the installation of the Tenant Finishing Work (as defined in Exhibit C), furniture, fixtures and equipment on the following conditions: (i) Tenant and Tenant’s contractors and employees shall not unreasonably interfere with Landlord’s Work is contractors, (ii) Tenant shall provide evidence of insurance reasonably acceptable to Landlord covering personal injury, property damage and other liabilities related to the activities of Tenant and its employees and contractors on the Premises, and Tenant shall be responsible for the costs of any additional security associated with such early access, but shall not substantially complete be responsible for any utilities or Operating Expense, (iii) Tenant shall indemnify Landlord and hold it harmless from and against any and all losses, costs, damages and liabilities arising out of the activities of Tenant and its employees and contractors on the Premises, and (iv) all such work shall be performed by contractors that will work in accordance harmony with Section 5 of this Lease by May 1, 2007, the Landlord shall pay Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1, 2007 that Landlord’s Work is contractors (union or otherwise) and, if applicable, Tenant shall be responsible for the cost of a secondary access for any nonunion laborers to the extent such secondary access has not substantially completealready been provided by Landlord’s contractor.
Appears in 1 contract
Samples: Single Tenant Office Lease (Bridgepoint Education Inc)
Demise and Term. 2.01. Landlord hereby leases the Premises described in Section 1.2 above to Tenant Tenant, and Tenant leases hereby hires from Landlord, the Premises from Landlord Demised Premises, for the Term. This Lease is subject to any and all existing encumbrances, conditions, rights, covenants, easements, restrictions and rights of way, of record, and other matters of record, applicable zoning and building laws, regulations and codes, and such matters as may be disclosed by an inspection or survey.
2.02. Landlord hereby represents, as of the provisions date of this Lease; provided, howeverthat it has not received notice from any governing body having jurisdiction over the Building to the effect that the Building is not in compliance with applicable Legal Requirements, nor is Landlord, to the exterior walls best of its knowledge and roof belief, as of the date of this Lease, aware of any defects affecting the structural integrity of the Building.
2.03. Landlord represents to Tenant that SunGard Recovery Services LP (the “Existing Tenant”) is currently the only tenant of the Premises and that the area beneath the Premises are not demised hereunder, and the use thereof together with the right to install, maintain, inspect, use, repair and replace pipes, ducts, conduits, wires and structural elements leading through the Premises in locations which will not materially interfere with Existing Tenant’s use thereof and serving other parts lease is to expire pursuant to its terms on January 31, 2008. Landlord agrees not to extend the term of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used herein, “floor area” means the number of square feet measured from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Existing Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this Leaselease. The Term of this Lease shall commence on the Commencement Date set forth in Section 1.6 and shall end on the Termination Date set forth in Section 1.8 unless adjusted or sooner terminated as provided herein. If Landlord is not able to deliver the Premises for any reason, Landlord shall not be subject to any liability for the failure to deliver possession, but anticipates that the Commencement Date shall be delayed until possession of occur on February 1, 2008 (the Premises is delivered “Anticipated Commencement Date”). Notwithstanding anything contained in this Lease to Tenant. Each party agreesthe contrary, Landlord, at its sole cost and expense, shall use continuous diligent best efforts (including the request commencement and diligent and expeditious prosecution of litigation against the otherExisting Tenant) in the event the Existing Tenant advises Landlord that it does not intend to surrender the Demised Premises to Landlord on or prior to January 31, 2008, or, does not, in fact, surrender the Demised Premises to execute and deliver an instrument confirming Landlord on or prior to January 31, 2008. If the actual Commencement Date and fails to occur on the Anticipated Commencement Date, through no fault of Tenant or a Tenant Party, the Rent Commencement Date when determinedshall be extended two (2) days for each day of such failure. In If the event that Landlord’s Work is not substantially complete in accordance with Section 5 of this Lease Commencement Date fails to occur by May 1, 20072008, through no fault of Tenant or a Tenant Party, then Tenant may elect to terminate this Lease at anytime thereafter upon thirty (30) days’ written notice to Landlord, in which event, the rights and obligations of the parties hereunder shall be deemed null and void and without further force and effect, and Landlord shall pay return to Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1, 2007 that any Security Deposit previously tendered to Landlord’s Work is not substantially complete.
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Samples: Lease Agreement (Switch & Data Facilities Company, Inc.)
Demise and Term. (a) Landlord leases the Premises described in Section 1.2 above to Tenant and Tenant leases the Premises from Landlord Landlord, together with the nonexclusive use of the Common Areas as set forth in Section 9 below, subject to the provisions of this Lease; provided, however, the exterior walls and roof of that any space in the Premises and the area beneath used for shafts, pipes, conduits, ducts, electrical or other utilities or Building facilities, as well as reasonable access thereto through the Premises are not demised hereunderupon reasonable prior written notice (except in cases of emergencies when no such prior notice shall be required) for the purposes of installation, and the use thereof together with the right to installoperation, maintainmaintenance, inspect, useinspection, repair and replace pipes, ducts, conduits, wires replacement are reserved to Landlord and structural elements leading through the Premises in locations which will not materially interfere with Tenant’s use thereof and serving other parts of the Building are hereby reserved unto the Landlord. The actual floor area in the Leased Premises and the Building may be remeasured by Landlord at any time during the Term. As used herein, “floor area” means the number of square feet measured excluded from the exterior faces of exterior walls, storefronts, corridors and service areas and from the center line of party walls and shall include all area within such boundaries without deduction or exclusion by reason of columns or any other interior construction or equipment. The certificate of Landlord’s architect as to floor area shall be binding upon both parties. If the floor area determined in accordance with the foregoing differs from the floor area contained in Section 1.2 above, then the Base Rent and Tenant’s Proportionate Share shall be adjusted proportionately and Tenant shall be obligated to pay the Base Rent, as adjusted from the Rent Commencement Date, subject to further adjustments as provided in this LeasePremises. The Term of this Lease shall commence on the Commencement Date set forth in Section 1.6 1.5 and shall end on the Termination Date set forth in Section 1.8 1.6 unless adjusted or sooner terminated or extended as provided herein. As used herein, "Lease Year" means a period of twelve (12) full and consecutive calendar months. The initial Lease Year shall begin on the Commencement Date and end on the last day of the month preceding the first anniversary of the Commencement Date; provided, however, if the Commencement Date does not occur on the first day of a calendar month, then the initial Lease Year shall begin on the Commencement Date and end on the last day of the month which contains the first anniversary thereof. Each succeeding Lease Year shall begin upon the termination of the preceding Lease Year. -2-
(b) This Lease and all of Landlord's and Tenant's obligations hereunder are contingent upon Landlord acquiring title to the Building from Tenant pursuant to the terms and provisions of a Commercial Offer to Purchase between Tenant, as Seller, as Landlord, as Buyer dated September 21, 2001 (as the same may be amended from time to time, the "Purchase Agreement"). If Landlord has not acquired title to the Building by December 31, 2001, or such later date as is not able mutually agreed to deliver by the Premises for parties under the Purchase Agreement, then this Lease shall automatically terminate and be of no further force or effect and neither party shall have any reasonrights or liabilities hereunder. Nothing contained in this Lease shall in any way limit or abrogate the covenants, obligations, warranties and representations of Tenant as Seller, or Landlord as Buyer, under the Purchase Agreement.
(c) Notwithstanding anything to the contrary contained herein, the parties acknowledge that on the Commencement Date, Tenant will occupy the entire third floor of the Building comprising approximately 46,600 rentable square feet of floor area (the "Third Floor Space") and approximately 21,800 rentable square feet of floor area on the second floor of the Building ("Second Floor Space A"). Upon substantial completion of Landlord's work of renovation of the remaining 24,390 rentable square feet of floor area on the second floor of the Building ("Second Floor Space B") in accordance with Section 5 below, Tenant agrees to relocate its business operations from the Third Floor Space to Second Floor Space B. Landlord shall notify Tenant in writing ("Landlord's Relocation Notice") at least seven (7) days before the anticipated date of substantial completion of the Second Floor Space B, and no later than the date (the "Relocation Effective Date"), time being of the essence, which is three (3) business days after the date of such substantial completion, Tenant shall relocate Tenant's furniture, furnishings, trade fixtures and personal property (including, without limitation, Tenant's telephone and computer equipment) to the Second Floor Space B, the cost of such relocation shall be included in the Tenant Improvements (as defined in Exhibit C) set forth on Exhibit C, and surrender possession of the Third Floor Space to Landlord broom clean and in the condition specified in this Lease, provided, however, if Landlord has delivered Landlord's Relocation Notice and Tenant fails to relocate on or before the Relocation Effective Date, time being of the essence, Landlord shall not be subject have the right to any liability for move all of Tenant's furniture, furnishings, trade fixtures and personal property from the failure Third Floor Space to deliver possessionthe Second Floor Space B, but and Tenant shall pay Landlord the Commencement cost thereof within ten (10) business days after receipt of a xxxx therefor. The parties anticipate that the Relocation Effective Date shall be delayed until possession on or around March 1, 2002. From and after the Relocation Effective Date, the Third Floor Space shall no longer be included as a portion of the Premises is delivered demised pursuant to Tenantthis Lease, provided, however, Tenant shall remain liable for the performance of all of the terms and provisions of this Lease relating to the Third Floor Space which are due and owing or accrued up to and including the Relocation Effective Date. Each party agrees, at Upon the request of either Landlord or Tenant, the otherparties shall execute a supplemental memorandum setting forth the Relocation Effective Date. As used herein "substantial completion" of Landlord's work with respect to the Second Floor Space B shall mean the date of issuance of a certificate of occupancy permitting Tenant to occupy such space. Notwithstanding anything to the contrary contained herein, in the event that pursuant to execute Paragraph 1 of Exhibit C, Tenant has not submitted to Landlord construction drawings for the Tenant Improvements to the Second Floor Space B by January 31, 2002, time being of the essence, then Tenant shall vacate the Third Floor Space and deliver an instrument confirming surrender possession thereof the actual Commencement Date Landlord broom clean and in the condition specified in this Lease by 5:00 p.m. on February 15, 2002, time being of the essence, and thereafter the Third Floor Space shall no longer be included as a portion of the Premises demised pursuant to this Lease and the Monthly Base Rent Commencement Date when determinedpayable by Tenant shall be as set forth in Section 1.7 above. Upon Tenant's vacating of the Third Floor Space, Tenant may occupy Second Floor Space B in its current condition provided that such occupancy is permitted under applicable Governmental Requirements and Insurance Requirements (as defined in Section 7 below). In the event that Landlord’s Work is not substantially complete Tenant fails to vacate the Third Floor Space on or before February 15, 2002, time being of the essence, then Landlord shall have the right to move all of Tenant's furniture, furnishings, trade fixtures and personal property from the Third Floor Space to the Second Floor Space B, and Tenant shall pay Landlord the cost thereof within ten (10) business days after receipt of a xxxx therefor. -3-
(d) The rentable floor area of the Premises and the Building have been determined by Landlord in accordance with Section 5 BOMA standards. Prior to the Commencement Date, Tenant shall have the right to verify the rentable floor area of the Premises using the same standards. If Tenant fails to advise Landlord in writing of its determination prior to such date, time being of the essence, the floor areas set forth in this Lease by May 1, 2007, the Landlord shall pay Tenant the sum of Four Hundred Dollars ($400.00) per day for each day past May 1, 2007 that Landlord’s Work is not substantially completebe deemed correct.
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