Common use of Existing Lease Clause in Contracts

Existing Lease. (a) Tenant acknowledges that, as of the Lease Date, Tenant occupies the Existing Premises under the terms of the Existing Lease, and that, subject to the terms of this Lease, Tenant’s rights and obligations with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees to vacate and surrender possession of the Existing Premises and to complete the relocation of its business operations to the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms of this Lease. Subject to the foregoing, the Existing Lease shall be deemed terminated as of the Existing Premises Surrender Date, and Tenant shall have no further responsibility or obligations with respect to the Existing Premises except as provided in Section 2.2(b).

Appears in 1 contract

Samples: Office Lease (iRhythm Technologies, Inc.)

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Existing Lease. (a) Tenant acknowledges that, as of the Lease Date, Tenant occupies If the Existing Premises under the terms of the Existing Lease, and that, subject to the terms of this Lease, Tenant’s rights and obligations Lease terminates with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees Must- Take Space prior to vacate and surrender possession of the Existing Premises and to complete the relocation of its business operations to the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing LeaseDecember 31, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, 2010 and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms of this Lease. Subject to the foregoingTibco Sublease has not been previously terminated for any reason, the Existing Lease Tibco Sublease automatically shall be deemed terminated as of the date of termination of the Existing Premises Surrender Lease (the “Early Termination Date”), the Must-Take Effective Date automatically shall be accelerated to the day immediately following the Early Termination Date (the “Advance Must-Take Effective Date”), Tenant shall be deemed to have taken possession of the Must-Take Space pursuant to the terms of the Lease and this Must-Take provision as of the Advance Must-Take Effective Date, and the terms and conditions of this Lease applicable to the Must-Take Space shall be in full force and effect with respect to the Must-Take Space as of the Advance Must-Take Effective Date, except that (a) the Must-Take Term shall be extended to include the period commencing upon the Advance Must-Take Effective Date through and including December 31, 2010 (such period being referred to herein as the “Advance Must-Take Term”), and (b) the Base Rent for the Must-Take Space during the Advance Must-Take Term shall be the then Prevailing Market rate for the Must-Take Space, as determined in accordance with Subsection F below, as modified by this paragraph, provided that there shall be no Minimum Initial Base Rent or Maximum Initial Base Rent for such purposes. Landlord and Tenant acknowledge and agree that the determination of Base Rent for the Advance Must-Take Term is independent of and shall not affect in any way the determination of Base Rent for the remainder of the Must-Take Term, as set forth in Subsection F below. In the event that the Tibco Sublease is in effect but Tenant has not yet taken possession of a portion of the Must-Take Space by the Advance Must-Take Effective Date, then Tenant shall take possession of such portion of the Must-Take Space, in its then as-is condition, immediately upon Landlord’s recovery of possession thereof, and Tenant shall have no further responsibility or obligations not be required to pay Rent with respect to such portion until Landlord has so recovered possession. Promptly following the Existing Premises except as provided Early Termination Date, if any (regardless of whether such date is prior to April 1, 2010, notwithstanding Paragraph F.1 below), Landlord shall commence the procedure set forth in Section 2.2(b)Subsection F below for determining the Prevailing Market rate for the Must-Take Space during the Advance Term.

Appears in 1 contract

Samples: Fourth Amendment (Affymax Inc)

Existing Lease. (a) Landlord and Tenant acknowledges thatacknowledge and agree that Tenant currently occupies the Premises (together with certain other space within the Project) pursuant to the terms of that certain Lease Agreement dated as of March 29, 2004 between Landlord's predecessor-in-interest (Mxxxxxx Office Park Investors LLC) and Tenant (as amended, the "Existing Lease"). Until the Commencement Date, Tenant shall continue to perform all of its obligations under the Existing Lease (including, without limitation, the timely payment of rent and all other charges thereunder). Effective as of the Lease Commencement Date, Tenant occupies the Existing Premises Lease shall terminate and neither Landlord nor Tenant shall have any rights, liabilities or obligations thereunder, except those obligations of Tenant under the Existing Lease or at law which survive the expiration or earlier termination of the Existing Lease (collectively, the "Surviving Obligations"). Tenant hereby acknowledges and agrees that, notwithstanding anything to the contrary set forth in the Existing Lease, the Surviving Obligations shall include, without limitation, Tenant's indemnification obligations, reconciliation payments due and owing on account of operating expenses and/or other charges that became due and owing under the Existing Lease, Tenant's obligation to vacate and surrender the premises leased by Tenant pursuant to the Existing Lease (other than the Premises) in accordance with the terms and conditions of the Existing Lease, and that, subject to the terms of this Lease, Tenant’s rights and obligations with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees to vacate and surrender possession of the Existing Premises and to complete the relocation of its business operations 's responsibility for any damages to the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of during the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms of this Lease. Subject to the foregoing, the Existing Lease shall be deemed terminated as of the Existing Premises Surrender Date, and Tenant shall have no further responsibility or obligations with respect to the Existing Premises except as provided in Section 2.2(b).

Appears in 1 contract

Samples: Standard Office Lease (Alliance Fiber Optic Products Inc)

Existing Lease. The parties acknowledge that Landlord currently leases to Tenant and Tenant currently leases from Landlord Suite 1200 and Suite 2700 in the Tower (athe “Existing Premises”) Tenant acknowledges thatand Suite 2510 in the Tower (the “25th Floor Space”) pursuant to that certain Office Lease Agreement dated May 30, 2006, as amended by First Amendment to Lease dated January 15, 2007, by Second Amendment to Lease dated February 27, 2007, by Third Amendment to Lease dated as of May 5, 2008 and by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the “Existing Lease”). Effective as of the Lease Datedate which is sixty (60) days after the Commencement Date under this Lease, Tenant occupies Tenant’s lease of the Existing Premises under the terms Existing Lease shall terminate and shall be of no further force or effect (except for those provisions of the Existing Lease which, by their terms, expressly survive the expiration or earlier termination of the Existing Lease). The period from the Commencement Date under this Lease through the date which is sixty (60) days thereafter may be referred to herein as the “Moving Period”. However, and that, subject notwithstanding anything to the terms of this contrary contained in the Existing Lease, Tenant’s rights and obligations with respect Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (as those terms are defined in the Existing Lease) for the Existing Premises pursuant to the Existing Lease attributable to such sixty (60) day Moving Period. Should Tenant fail to vacate the Existing Premises are and surrender the Existing Premises to Landlord on or before the expiration of the Moving Period, the holdover provisions of the Existing Lease shall remain governed solely by he apply. Notwithstanding anything to the contrary contained in the Existing Lease. , Tenant agrees need not restore the Existing Premises to vacate its original condition or remove any improvements from the Existing Premises; provided, however, that Tenant shall be required to remove all furniture, equipment and surrender possession of personal property from the Existing Premises and to complete the relocation of its business operations to the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of remove cabling from the Existing Premises so designated for removal (to the applicable telephone closet(s)) by Landlord and shall return such space to Landlord in such good and broom-clean condition as is required by the Existing Lease as if such surrender condition. The parties acknowledge that Tenant’s lease of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation 25th Floor Space pursuant to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession not be terminated under this Section 35(a) and Tenant’s lease of the Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms of this Lease. Subject to the foregoing, the Existing Lease 25th Floor Space shall be deemed terminated as of the Existing Premises Surrender Date, and Tenant shall have no further responsibility or obligations with respect to the Existing Premises except continue as provided in Section 2.2(b)the Fourth Amendment to Lease dated August 7, 2009.

Appears in 1 contract

Samples: Assignment of Sublease Agreement (Coinstar Inc)

Existing Lease. Pursuant to that certain 000 Xxxxx Xxxxxx Lease Agreement (athe “SpikeSource Lease”) Tenant acknowledges thatbetween Landlord and SpikeSource, Inc., a Delaware corporation (“SpikeSource”) dated as of June 29, 2009, Landlord leased the Premises to SpikeSource. By written agreement dated of even date herewith, Landlord and SpikeSource have agreed to terminate the SpikeSource Lease Date, Tenant occupies the Existing Premises under on the terms and conditions set forth therein, which terms and conditions include the obligation of SpikeSource to (i) transfer all of its interest in the Existing LeaseFurniture to Landlord and leave the Furniture in the Premises, and that(ii) pay the commissions of Tenant’s broker, subject to the terms CresaPartners, and SpikeSource’s broker, Cornish & Xxxxx, which are payable in connection with this Lease. Landlord shall not be in breach of this Lease, Tenant shall have no right to terminate this Lease (except as provided in the next following sentence), and Landlord shall have no liability to Tenant’s rights and obligations with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees to vacate and surrender possession , on account of the Existing Premises and failure on the part of SpikeSource to complete either leave the relocation of its business operations to Furniture in the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation or to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Datesaid commissions. Notwithstanding the foregoing, except as provided if SpikeSource fails to leave any of the Furniture in Exhibit J the Premises (with the items identified therein being referred to as the “Existing Lease Removal Obligations”beyond a de minimis amount), Tenant may give Landlord written notice of such fact no later than 5:00 p.m. on December 21, 2010. Landlord shall not be required thereupon give Tenant written notice, no later than noon on December 23, 2010, if it is willing to restore any condition or remove any alterations that exist in replace the Existing Premises as of the Lease Datemissing Furniture. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon If Landlord gives written notice to TenantTenant of its willingness to replace the missing Furniture it shall do so promptly. If Landlord gives written notice to Tenant that it is unwilling to replace the missing Furniture or fails to give Tenant any written notice, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms of this Lease. Subject to the foregoing, the Existing Lease shall be deemed terminated as of the Existing Premises Surrender Date, and Tenant shall have the right, as its sole remedy, to terminate this Lease by giving Landlord written notice of such termination no further responsibility or obligations with respect later than noon on December 24, 2010. Notices under the immediately preceding sentence shall be given by e-mail to the Existing Premises except as provided in Section 2.2(b).following addresses: If to Landlord: [email addresses]; If to Tenant: [email addresses]

Appears in 1 contract

Samples: Lease Agreement (Audience Inc)

Existing Lease. Landlord and Tenant hereby acknowledge and agree that (ai) Landlord’s predecessor in interest, Corning Road, L.L.C., and Allscripts, LLC (“Allscripts”) entered into that certain Lease Agreement dated November 30, 2006 (the “Allscripts Lease”), pursuant to which Corning Road, L.L.C. leased to Allscripts approximately 10,273 rentable square feet of space (the “Existing Premises”) in that certain office building now owned by Landlord and commonly known as Crossroads Office Building I located at 0000 Xxxxxxx Xxxx, Cary, North Carolina (the “Crossroads I Building”), (ii) Tenant acknowledges thatand Allscripts entered into that certain Sublease Agreement dated December 3, 2008 (the “Sublease”), pursuant to which Tenant subleased the Existing Premises from Allscripts, and (iii) as of the date hereof, the Allscripts Lease and the Sublease have been terminated. Between the date of this Lease and the Commencement Date, (x) Landlord and Tenant occupies hereby acknowledge and agree that Tenant shall have the right to remain in possession of the Existing Premises pursuant to the terms of this Lease, (y) for the purposes of construing Tenant’s obligations in relation to the Existing Premises under the terms of the Existing Lease, and that, subject to the terms of this Lease, Tenant’s rights and obligations with respect all references in this Lease to the “Premises” shall include the Existing Premises are Premises, and (z) all references in this Lease to the Building shall remain governed solely by he Existing Leaseinclude the Crossroads I Building. On or before the Commencement Date, Tenant agrees to shall vacate and surrender possession of the Existing Premises and return possession thereof to complete Landlord in broom-clean condition. Between the relocation of its business operations to date hereof and the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). , Tenant shall surrender possession pay Landlord Minimum Rental equal to $9,476.84 per calendar month for its lease of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing LeasePremises, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises which payments shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises made in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession provisions of the Existing Premises beyond the expiration Section 3 hereof. Remainder of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms of this Leasepage intentionally left blank. Subject to the foregoing, the Existing Lease shall be deemed terminated as of the Existing Premises Surrender Date, and Tenant shall have no further responsibility or obligations with respect to the Existing Premises except as provided in Section 2.2(b)Signatures on next page.

Appears in 1 contract

Samples: Lease Agreement (Amber Road, Inc.)

Existing Lease. (a) Tenant acknowledges that, as of the Lease Date, and agrees that Tenant currently occupies the Existing entire Premises under the terms of the Existing Leasepursuant to that Office Lease between ECT Xxxxxxxxx LLC (Landlord’s predecessor-in-interest) and Tenant dated February 23, and that, subject to the terms of this Lease, Tenant’s rights and obligations with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees to vacate and surrender possession of the Existing Premises and to complete the relocation of its business operations to the Premises no later than five (5) business days following the Rent Commencement Date 2005 (the “Existing Premises Surrender DateOriginal Lease”), which was amended by that First Amendment to Lease dated March 9, 2006, by that Second Amendment to Lease dated December 19,2006, by that Third Amendment to Lease dated May 15,2007, by that Forth Amendment to Lease dated December 12, 2007, by that Fifth Amendment to Lease dated March 11,2011, by that Sixth Amendment to Lease dated June 10,2011, by that Seventh Amendment to Lease dated October 3, 2011, and by that Eighth Amendment To Lease dated January 18,2012. Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing The Original Lease, andas so amended, except as is hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease.” Landlord and Tenant agree that the Existing Lease Removal Obligations”)is in full force and effect and shall expire at 11:59 p.m. Pacific Time on July 31, 2015. On and after the Lease Date, Tenant shall not be required have any right to restore exercise any condition options to renew, extend or remove any alterations expand (if any), or rights of first offer or first refusal (if any), or other similar rights (if any) that may exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease. Except to the extent that certain provisions of this Lease are stated to apply to Tenant, the Premises and Tenant’s Work pursuant to Exhibit B prior to the payment Commencement Date of rent as this Lease, Tenant shall continue to lease the Premises pursuant to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in addition prior to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms Commencement Date of this Lease. Subject to the foregoing, the Existing Lease shall be deemed terminated as of the Existing Premises Surrender Date, and Tenant shall have no further responsibility or obligations with respect to the Existing Premises except as provided in Section 2.2(b).

Appears in 1 contract

Samples: Lease Agreement (Gymboree Corp)

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Existing Lease. Landlord and Tenant acknowledge that Tenant is currently a tenant at 2840 San Txxxx Expressway, one of the Other Buildings located on the Real Property (athe “Existing Space”) Tenant acknowledges thatpursuant to an Office Lease dated June 11, 1990, as of amended and assigned (the “Existing Lease”). The Existing Lease Dateis hereby extended from the expiration date thereof, Tenant occupies i.e., March 31, 2006, through the fifth (5th) business day following the Commencement Date hereunder (the “Existing Premises under Space Holdover Period”). Notwithstanding anything to the terms of contrary in the Existing Lease, and that, subject to the terms of this Lease, Tenant’s rights and obligations with respect to Base Rent for the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees to vacate and surrender possession Space for the entirety of the Existing Premises and to complete Space Holdover Period (but excluding the relocation of its business operations to the Premises no later than five (5) business days following the Rent Commencement Date for which Base Rent shall not be charged on the Existing Space) shall be Fifty-Three Thousand Three Hundred Sixty-One and 00/100 Dollars ($53,361.00) per month. Tenant shall continue to be liable for its proportionate share of Direct Expenses and any other additional rent amounts accruing under the Existing Premises Surrender Date”)Lease until its expiration as provided herein. Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises Space in accordance with the terms of this the Existing Lease. Subject In the event of termination of this Lease for any reason prior to Tenant’s relocation from the Existing Space to the foregoingPremises, the Existing Space Holdover Period shall terminate thirty (30) days following the date of such Lease termination and Tenant shall surrender the Premises by the end of such extended Existing Space Holdover Period. If Tenant fails to timely surrender the Existing Space as required hereunder, Tenant shall be deemed terminated liable for holdover rent as originally provided in the Existing Lease. In the event the Commencement Date does not occur by September 29, 2006 as a result of Landlord Delay (hereinafter defined), the Base Rent for the Existing Space during the remainder of the Existing Premises Surrender Date, and Tenant Space Holdover Period thereafter occurring (but excluding the five (5) business days following the Commencement Date for which Base Rent shall have no further responsibility or obligations with respect to not be charged on the Existing Premises except as provided in Section 2.2(bSpace) shall be reduced to $22,530.20 per month (payable on a per diem basis).. The term “

Appears in 1 contract

Samples: Terms of Lease (Intervoice Inc)

Existing Lease. Landlord and Tenant hereby agree that the holdover term of the Existing Lease shall expire on October 31, 2006 (athe “Existing Lease Expiration Date”).; provided that Tenant shall have the right to extend the Existing Lease Expiration Date for a period of one (1) month, through November 30, 2006, by giving Landlord irrevocable written notice thereof no later than October 24, 2006. Tenant’s base rent for the Existing Space through the Existing Lease Expiration Date (as it may have been extended) shall continue to be $53,361.00 per month, and Tenant shall continue to be liable for its proportionate share of Direct Expenses (as such term is defined in the Existing Lease) and any other additional rent amounts accruing under the Existing Lease until its expiration as herein provided. All terms of the Existing Lease shall continue in full force and effect, including without limitation the surrender provisions thereof. Notwithstanding anything to the contrary herein or in the Existing Lease, Tenant shall have the right, prior to surrender of the Existing Space, to remove (i) Tenant’s personal property from the Existing Space and (ii) Tenant’s installed audio-visual equipment from the audio-visual room therein, provided that (x) Tenant acknowledges that, as surrenders the Existing Space in broom clean condition and (y) Tenant repairs at its own expense any damage to the building in which the Existing Space is located caused by such removal or by Tenant’s vacation of the Lease DateExisting Space. However, Tenant occupies shall have no obligation to restore the Existing Premises Space to the condition it was in at the time of its delivery to Tenant. Landlord acknowledges that it currently holds a security deposit of $182,132.43 under the Existing Lease, which shall be returned to Tenant following the Existing Lease Expiration Date (as it may have been extended) subject to and in accordance with the terms of the Existing LeaseLease and applicable law. Tenant and Landlord expressly agree that all rights and remedies available to Landlord under the Existing Lease and under applicable law shall apply in the event Tenant does not surrender the Existing Space to Landlord on the Existing Lease Expiration Date, and that, as it may have been extended (subject to the terms of this Lease, Tenant’s rights and obligations with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees Permitted Holdover Period, as set forth below), including without limitation the right to vacate and surrender possession of increase the Existing Premises and to complete the relocation of its business operations to the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation to pay monthly base rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except thereunder as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the expiration of the term 24 of the Existing Lease without to $308,308.00 (the consent of Landlord (“Unpermitted Holdover Rent”). Notwithstanding anything in addition this Section 5 to the rent payable with respect contrary, Landlord shall allow Tenant up to a ten (10)-day grace period after the PremisesExisting Lease Expiration Date (as it may have been extended) until the actual to complete Tenant’s vacation and surrender of the Existing Premises Space (the “Permitted Holdover Period”) at no cost to Tenant. However, if Tenant fails to surrender the Existing Space in accordance with the terms of this Lease. Subject to the foregoingrequired condition on or before 5:00 p.m. on November 10, 2006 (or December 10, 2006, if the Existing Lease Expiration Date has been extended as permitted by this Agreement), then Tenant shall be deemed terminated as obligated to pay holdover rent in the amount of the Existing Premises Surrender DateUnpermitted Holdover Rent as set forth above in this Section 5 for the entire month of November, 2006 or December, 2006, as applicable (and Tenant shall have no further responsibility or obligations with respect to the Existing Premises except as provided in Section 2.2(bany succeeding months of hold-over), such Permitted Holdover Period being voided by such extended unpermitted holdover.

Appears in 1 contract

Samples: Lease Termination Agreement (Intervoice Inc)

Existing Lease. (a) Tenant acknowledges thatLessee is currently occupying other space in the building pursuant to a lease between Penn Center Plaza No. Two, Ltd., an Ohio limited partnership and Lessor's predecessor in interest as the owner of the building, as landlord, and Home Unity Savings & Loan Association, as tenant, dated February 13, 1986, as thereafter amended (as so amended, the "Existing Lease"), Lessee having succeeded to the tenant's interest thereunder effective as of the Lease DateAugust 27, Tenant occupies 1993. Lessor, as a material inducement to Lessee to enter into this lease, hereby agrees with Lessee, and Lessee hereby agrees with Lessor, that the Existing Premises under Lease and the terms of the Existing Lease, and that, subject to the terms of this Lease, Tenant’s respective rights and obligations with respect to the Existing Premises are and shall remain governed solely by he Existing Lease. Tenant agrees to vacate and surrender possession of the Existing Premises parties thereunder shall continue in full force and to complete the relocation effect upon all of its business operations to the Premises no later than five terms and conditions (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of the Existing Premises in such good and clean condition as is required by the Existing Lease as if such surrender of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession of the Existing Premises beyond the its expiration of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premisesdate) until the actual vacation Commencement Date and surrender shall automatically and without the necessity of any further action by Lessor or Lessee terminate on the Commencement Date of the Existing Premises in accordance with the terms initial term of this Lease. Subject lease (or, if this lease is for any reason terminated prior to the foregoingCommencement Date, the Existing Lease shall be deemed terminated as automatically terminate on the later of the date on which this lease terminates or February 28, 1994), except for liabilities accrued to the date of such termination, including, without limitation, Lessee's liability for all minimum and additional rent due under the Existing Premises Surrender DateLease through the date of such termination and Lessee's obligation to surrender the premises demised by the Existing Lease to Lessor. Lessor further agrees with Lessee that (i) Lessee shall have the right (but not the obligation) to relocate and utilize all of said former tenant's trade fixtures, furniture and Tenant equipment, including safety deposit boxes, ATM's arid night depositories, acquired by Lessee from The Resolution Trust Corporation, 4nd (ii) Lessee shall have no further responsibility obligation to (a) restore or obligations with respect repair the premises demised pursuant to the Existing Premises except as provided in Section 2.2(b)Lease at the termination thereof, (b) remove the vault or any other fixtures or equipment from such space, or (c) remove the vault or any other fixtures from the premises demised hereunder at the expiration of this lease.

Appears in 1 contract

Samples: Lease (United Bancshares Inc /Pa)

Existing Lease. The parties acknowledge that Landlord currently leases to Tenant and Tenant currently leases from Landlord Suite 1200 and Suite 2700 in the Tower (athe “Existing Premises”) Tenant acknowledges thatand Suite 2510 in the Tower (the “25th Floor Space”) pursuant to that certain Office Lease Agreement dated May 30, 2006, as amended by First Amendment to Lease dated January 15, 2007, by Second Amendment to Lease dated February 27, 2007, by Third Amendment to Lease dated as of May 5, 2008 and by Fourth Amendment to Lease dated August 7, 2009 (as so amended, the “Existing Lease”). Effective as of the Lease Datedate which is sixty (60) days after the Commencement Date under this Lease, Tenant occupies Tenant’s lease of the Existing Premises under the terms Existing Lease shall terminate and shall be of no further force or effect (except for those provisions of the Existing Lease which, by their terms, expressly survive the expiration or earlier termination of the Existing Lease). The period from the Commencement Date under this Lease through the date which is sixty (60) days thereafter may be referred to herein as the “Moving Period”. However, and that, subject notwithstanding anything to the terms of this contrary contained in the Existing Lease, Tenant’s rights and obligations with respect Tenant shall have no obligation to pay Base Rent, Expenses or Taxes (as those terms are defined in the Existing Lease) for the Existing Premises pursuant to the Existing -41- Lease attributable to such sixty (60) day Moving Period. Should Tenant fail to vacate the Existing Premises are and surrender the Existing Premises to Landlord on or before the expiration of the Moving Period, the holdover provisions of the Existing Lease shall remain governed solely by he apply. Notwithstanding anything to the contrary contained in the Existing Lease. , Tenant agrees need not restore the Existing Premises to vacate its original condition or remove any improvements from the Existing Premises; provided, however, that Tenant shall be required to remove all furniture, equipment and surrender possession of personal property from the Existing Premises and to complete the relocation of its business operations to the Premises no later than five (5) business days following the Rent Commencement Date (the “Existing Premises Surrender Date”). Tenant shall surrender possession of remove cabling from the Existing Premises so designated for removal (to the applicable telephone closet(s)) by Landlord and shall return such space to Landlord in such good and broom-clean condition as is required by the Existing Lease as if such surrender condition. The parties acknowledge that Tenant’s lease of the Existing Premises was being effected as of the expiration of the Term of the Existing Lease, and, except as hereinafter provided, Tenant’s obligation 25th Floor Space pursuant to pay rent with respect to the Existing Premises shall cease to accrue as of the Rent Commencement Date. Notwithstanding the foregoing, except as provided in Exhibit J (with the items identified therein being referred to as the “Existing Lease Removal Obligations”), Tenant shall not be required to restore any condition or remove any alterations that exist in the Existing Premises as of the Lease Date. Tenant’s failure or refusal to vacate and surrender possession of the Existing Premises on or before the Existing Premises Surrender Date (other than in de minimis respects) in the condition required by this Section 2.2 shall, at the election of Landlord, upon notice to Tenant, constitute an Event of Default under the Existing Lease, and the payment of rent as to the Existing Premises in accordance with the Existing Lease shall continue to accrue as if Tenant was holding over possession not be terminated under this Section 35(a) and Tenant’s lease of the Existing Premises beyond the expiration of the term of the Existing Lease without the consent of Landlord (in addition to the rent payable with respect to the Premises) until the actual vacation and surrender of the Existing Premises in accordance with the terms of this Lease. Subject to the foregoing, the Existing Lease 25th Floor Space shall be deemed terminated as of the Existing Premises Surrender Date, and Tenant shall have no further responsibility or obligations with respect to the Existing Premises except continue as provided in Section 2.2(b)the Fourth Amendment to Lease dated August 7, 2009.

Appears in 1 contract

Samples: Office Lease

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