Common use of Existing Lease Clause in Contracts

Existing Lease. (a) Until the earlier of the Closing or the termination of this Agreement in accordance with its terms, the Parties shall, and shall cause their controlled Affiliates, to take all such actions as are necessary to maintain the Existing Lease in full force and effect on its current terms, including (i) extending the terms of the Existing Lease following execution of this Agreement no later than thirty (30) days prior to the expiration of its then-current terms, (ii) not giving any notice of termination under the Existing Lease and (iii) making such filings with the FCC, in good faith cooperation with the other Parties, as may be necessary in connection with the foregoing. (b) Effective as of the earlier to occur of Closing and the termination of this Agreement in accordance with Section 7.1(a)(vi), notwithstanding anything in the Existing Lease to the contrary, the Existing Lease automatically shall terminate in full and be of no further force or effect such that, subject to the following sentence, no Party or any of its Affiliates will have any further Liability thereunder, and the Parties shall, and shall cause their Affiliates to, take all such actions as are necessary to effect such termination. Any amount prepaid by the T-Mobile Parties or their Affiliates, solely with respect to the prepayment period (which shall be no longer than six (6) months) that commences prior to the Closing Date and ends after the Closing Date under the Existing Lease, if any (which amount shall be calculated by prorating the number of days elapsed following the Closing Date in the applicable period), shall reduce the amount of the Purchase Price, and any amounts unpaid by the T-Mobile Parties or their Affiliates with respect to the period occurring prior to the Closing Date shall be paid on the Closing Date.

Appears in 2 contracts

Samples: License Purchase Agreement (T-Mobile US, Inc.), License Purchase Agreement (T-Mobile US, Inc.)

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Existing Lease. (a) Until the earlier of the Closing or the termination of this Agreement in accordance with its terms, the Parties shall, and shall cause their controlled AffiliatesAffiliates to, to take all such actions as are necessary to maintain the Existing Lease in full force and effect on its current termsterms with respect to the Seller Licenses, including (i) extending the terms of the Existing Lease following execution of this Agreement no later than thirty (30) days prior to the expiration of its then-current terms, (ii) not giving any notice of termination under the Existing Lease and (iii) making such filings with the FCC, in good faith cooperation with the other Parties, as may be necessary in connection with the foregoing. (b) Effective as of the earlier to occur of Closing and the termination of this Agreement in accordance with Section 7.1(a)(vi), notwithstanding anything in the Existing Lease to the contrary, the Existing Lease automatically shall terminate in full and be of no further force or effect solely with respect to the Seller Licenses (and shall remain in effect with respect to the 600 MHz licenses granted by the FCC subject to the Second Closing License Purchase Agreement, subject to the terms and conditions thereof) such that, subject to the following sentenceSection 5.6(c), no Party or any of its Affiliates will have any further Liability thereunder, and the Parties shall, and shall cause their Affiliates to, take all such actions as are necessary to effect such termination. . (c) Any amount prepaid by the T-Mobile Parties or their Affiliates, solely with respect to the prepayment period and solely with respect to the Seller Licenses (which shall be no longer than six (6) months) that commences prior to the Closing Date and ends after the Closing Date under the Existing Lease, if any (which amount shall be calculated by prorating the number of days elapsed following the Closing Date in the applicable period), shall reduce the amount of the Purchase Price, and any amounts unpaid by the T-Mobile Parties or their Affiliates with respect to the period occurring prior to the Closing Date and with respect to the Seller Licenses shall be paid on the Closing Date.

Appears in 2 contracts

Samples: License Purchase Agreement (T-Mobile US, Inc.), License Purchase Agreement (T-Mobile US, Inc.)

Existing Lease. (a) Until the earlier of the Closing or the termination of this Agreement in accordance with its terms, the Parties shallThe Port Authority, and shall cause their controlled Affiliatesthe Lessee have heretofore entered into an agreement of lease, to take all such actions dated as are necessary to maintain the Existing Lease in full force and effect on its current termsof February 24, including (i) extending the terms 1984, said agreement of the Existing Lease following execution of this Agreement no later than thirty (30) days prior to the expiration of its then-current terms, (ii) not giving any notice of termination under the Existing Lease and (iii) making such filings with the FCC, in good faith cooperation with the other Partieslease, as may be necessary in connection with the foregoingsame has heretofore been supplemented and amended, being referred to herein as the "Existing Lease". (b) Effective on the earlier of (1) the day subsequent to the Area A-1 Commencement Date that the Lessee shall, upon not less than forty-five (45) days' prior notice, vacate the entire premises under the Existing Lease (such premises being hereinafter referred to as the "surrendered premises") and deliver actual physical possession of the earlier same to occur the Port Authority, in the condition required by the Existing Lease upon surrender, as amended by the proviso to the first sentence of Closing and paragraph (c) of this Section, or (2) the termination day preceding the later of (i) the date that the Lessee shall commence in Area A any of the operations permitted by the Section of this Agreement entitled "Rights of User by the Lessee", (ii) the date that the Lessee shall commence in accordance Area A-1 any of the operations permitted by said Section, or (iii) June 1, 2002, in the event of the cancellation of the letting of Area A and Area A-1 together with this Agreement pursuant to the provisions of paragraph (b) of the Section 7.1(a)(viof this Agreement entitled "Term" (said earlier day being hereinafter referred to as the "Surrender Date"), notwithstanding anything in the Lessee hereby surrenders and yields up and does by these presents grant, bargain, sell, surrender and yield up to the Port Authority, its successors and assigns, forever the surrendered premises and the term of years with respect thereto under the Existing Lease yet to come, and has given, granted and surrendered and by these presents does give, grant and surrender to the contraryPort Authority, its successors and assigns, all the rights, rights of renewal, licenses, privileges and options of the Lessee granted by the Existing Lease automatically shall terminate in full and be of no further force or effect such that, subject to the following sentence, no Party or any of its Affiliates will have any further Liability thereunder, and the Parties shall, and shall cause their Affiliates to, take all such actions as are necessary to effect such termination. Any amount prepaid by the T-Mobile Parties or their Affiliates, solely with respect to the prepayment period (which shall be no longer than six (6) months) that commences prior surrendered premises, all to the Closing intent and purpose that the said term under the Existing Lease and the said rights of renewal, licenses, privileges and options may be wholly merged, extinguished and determined on the Surrender Date with the same force and ends after effect as if the Closing Date said term were in and by the provisions of the Existing Lease originally fixed to expire on such date. (c) In consideration of the making of this Agreement by the Port Authority, the Lessee hereby agrees to terminate its occupancy of the surrendered premises and to deliver actual physical possession of the same to the Port Authority on or before the Surrender Date, in the condition required by the Existing Lease upon surrender, provided, that, notwithstanding anything to the contrary contained in the Existing Lease, the Lessee shall not be required to remove or change any of the construction and installation work performed, or any improvements made, in the premises as defined in the Existing Lease, but the Lessee may at its option remove items of construction and installation work it has installed in the premises under the Existing Lease, if any (which amount shall be calculated by prorating . The Lessee further agrees that it will remove from the number of days elapsed following the Closing Date in the applicable period), shall reduce the amount of the Purchase Price, and any amounts unpaid by the T-Mobile Parties surrendered premises on or their Affiliates with respect to the period occurring prior to the Closing fifth (5th) business day following the Surrender Date all furniture, equipment, inventories, trade fixtures and other personal property of the Lessee or for which the Lessee is responsible and all substantial debris, repairing any damage to the premises caused by such removal or the removal by the Lessee of any construction and installation work from the surrendered premises. In the event that the Lessee removes electrical or plumbing fixtures from the surrendered premises, whether as part of such removal or otherwise, the Lessee shall cap all altered electrical and plumbing lines flush with walls, floors and ceilings. (d) In the event that the Surrender Date shall not occur on or prior to July 29, 1999, the term of the letting under the Existing Lease shall hereby be paid extended through and including the Surrender Date, at an annual basic rental rate of One Million Three Hundred Seventy-six Thousand One Hundred Twelve Dollars and No Cents ($1,376,112.00), payable in equal monthly installments of One Hundred Fourteen Thousand Six Hundred Seventy-six Dollars and No Cents ($114,676.00) commencing on July 30, 1999, and on the Closing Date.first day of each calendar month thereafter,

Appears in 1 contract

Samples: Lease Agreement (KBW Inc)

Existing Lease. (a) Until the earlier of the Closing or the termination of this Agreement in accordance with its terms, the Parties shall, and shall cause their controlled AffiliatesAffiliates to, to take all such actions as are necessary to maintain the Existing Lease in full force and effect on its current termsterms with respect to the Seller Licenses, including (i) extending the terms of the Existing Lease following execution of this Agreement no later than thirty (30) days prior to the expiration of its then-current terms, (ii) not giving any notice of termination under the Existing Lease and (iii) making such filings with the FCC, in good faith cooperation with the other Parties, as may be necessary in connection with the foregoing. (b) Effective as of the earlier to occur of Closing and the termination of this Agreement in accordance with Section 7.1(a)(vi), notwithstanding anything in the Existing Lease to the contrary, the Existing Lease automatically shall terminate in full and be of no further force or effect solely with respect to the Seller Licenses (and shall remain in effect with respect to the 600 MHz licenses granted by the FCC subject to the First Closing License Purchase Agreement, subject to the terms and conditions thereof) such that, subject to the following sentenceSection 5.6(c), no Party or any of its Affiliates will have any further Liability thereunder, and the Parties shall, and shall cause their Affiliates to, take all such actions as are necessary to effect such termination. . (c) Any amount prepaid by the T-Mobile Parties or their Affiliates, solely with respect to the prepayment period and solely with respect to the Seller Licenses (which shall be no longer than six (6) months) that commences prior to the Closing Date and ends after the Closing Date under the Existing Lease, if any (which amount shall be calculated by prorating the number of days elapsed following the Closing Date in the applicable period), shall reduce the amount of the Purchase Price, and any amounts unpaid by the T-Mobile Parties or their Affiliates with respect to the period occurring prior to the Closing Date and with respect to the Seller Licenses shall be paid on the Closing Date.

Appears in 1 contract

Samples: License Purchase Agreement (T-Mobile US, Inc.)

Existing Lease. Pursuant to an existing lease (the "Existing Lease") between Landlord and Tenant's predecessor-in-interest, Tenant is currently in possession of (i) the Demised Premises, and (ii) other rentable area located on the fourth (4th) floor of the building (the "Excluded Space"). In the event the Leasehold Improvements have not been substantially completed by June 1, 2006, then, provided Tenant is not in default under the Lease or the Existing Lease beyond the expiration of any applicable notice and cure period, then, until such time that the Leasehold Improvements are substantially completed, but in no event later than August 31, 2006, Tenant shall be permitted to occupy the Excluded Space upon all of the terms and conditions of the Existing Lease (without such occupancy being deemed a holdover), except that (a) Until the earlier monthly installment of Base Annual Rent shall be $12,439.17 per month, and (b) Tenant's pro rata share shall be 4.27%. Despite the foregoing, in no event shall Tenant be permitted to occupy the Demised Premises under this Section 42 beyond August 31, 2006. EXHIBIT A FLOOR PLAN (FLOOR PLAN) XXXXXXXXXXXX XXXXXXXX 0XX XXXXX AS-BUILT PLAN EXHIBIT B BUILDING RULES AND REGULATIONS 1. Tenant shall not obstruct or interfere with the rights of other tenants of the Closing Building or the Complex, or of persons having business in the Building or the Complex, or in any way injure or annoy such tenants or persons. Tenant will not conduct any activity within the Demised Premises which will create excessive traffic or noise anywhere in the Building or the Complex. Tenant shall not bring or keep within the Building any animal, bicycle; motorcycle, or type of vehicle except as required by law. 2. Tenant shall promptly report to Landlord's Agent all accidents and incidents occurring on or about the Demised Premises, the Building and/or the Complex which involve or relate to the security and safety of persons and/or property. 3. Tenant shall use and occupy the Demised Premises only for the purposes specified in Section 1.8 of the Lease and for no other purpose whatsoever, and shall comply, and cause its employees, agents, contractors, invitees and other users of the Demised Premises to comply, with applicable zoning and other municipal regulations, including but not limited to smoking regulations. Canvassing, soliciting and peddling in the Building or anywhere in the Complex are prohibited, and Tenant shall reasonably cooperate to prevent such activities. 4. All office equipment and any other device of any electrical or mechanical nature shall be placed by Tenant in the Demised Premises in settings approved by Landlord, so as to absorb or prevent any vibration, noise, or annoyance. Tenant shall not construct, maintain, use or operate within the Demised Premises or elsewhere in the Building or outside of the Building any equipment or machinery which produces music, sound or noise, which is audible beyond the Demised Premises. Tenant shall not cause objectionable noises, vibrations or odors within the Building. 5. Tenant shall not deposit any trash, refuse, cigarettes, or other substances of any kind within or out of the Building, except in the refuse containers provided therefor. No material shall be placed in the trash boxes or receptacles if such material is of such nature that it may not be disposed of in the ordinary and customary manner of removing and disposing of office building trash and garbage without being in violation of the Lease or any law or ordinance governing such disposal. Tenant shall be charged the cost of removal for any items left by Tenant that cannot be so removed. All garbage and refuse disposal shall be made only through entry ways and elevators provided for such purposes and at such times as Landlord shall designate. Tenant shall not introduce into the Building any substance which might add an undue burden to the cleaning or maintenance of the Demised Premises or the Building. Tenant shall exercise its commercially reasonable efforts to keep the sidewalks, entrances, passages, courts, lobby areas, garages or parking areas, elevators, escalators, stairways, vestibules, public corridors and halls in and about the Building (hereinafter "Common Areas") clean and free from rubbish. Tenant shall not cause any unnecessary labor by reason of Tenant's carelessness or indifference in the preservation of good order and cleanliness. 6. Tenant shall use the Common Areas only as a means of ingress and egress, and Tenant shall permit no loitering by Tenant's agents, employees, visitors or invitees upon Common Areas or elsewhere within the Building. Tenant shall comply, and cause its employees, agents, contractors, invitees and other users of the Demised Premises to comply, with all rules and regulations adopted by Landlord governing the use of the Common Areas. The Common Areas and roof of the Building are not for the use of the general public, and Landlord shall in all cases retain the right to control or prevent access thereto by all persons whose presence, in the judgment of Landlord, shall be prejudicial to the safety, character, reputation or interests of the Building and its tenants. Tenant shall not enter or install equipment in the mechanical rooms, air conditioning rooms, electrical closets, janitorial closets, or similar areas or go upon the roof of the Building without the prior written consent of Landlord. Tenant shall not install any radio or television antenna, loudspeaker, or other device on the roof or exterior walls of the Building. Tenant shall not, nor shall Tenant's agents, employees or contractors, enter or install equipment in or at the equipment room(s) or closet(s), inside telecommunications and/or data transmission wire space and/or conduits or the telephone wire demarcation point in the Building without Landlord's prior consent. 7. Without limitation upon any of the provisions of the Lease, Tenant shall not xxxx, paint, drill into, cut, string wires within, or in any way deface any part of the Building, without the prior written consent of Landlord, and as Landlord may direct. Upon removal of any wall decorations or installations or floor coverings by Tenant, any damage to the walls or floors shall be repaired by Tenant at Tenant's sole cost and expense. Tenant shall not lay linoleum or similar floor coverings so that the same shall come into direct contact with the floor of the Demised Premises and, if linoleum or other similar floor covering is to be used, an interlining of builder's deadening felt shall be first affixed to the floor, by a paste or other materials soluble in water. The use of cement or other similar adhesive material is expressly prohibited, Floor distribution boxes for electric and telephone wires must remain accessible at all times. 8. Tenant shall not install or permit the installation of any awnings, shades, mylar films or sunfilters on windows. Tenant shall cooperate with Landlord in obtaining maximum effectiveness of the cooling system of the Building by closing drapes and other window coverings when the sun's rays fall upon windows of the Demised Premises. Tenant shall not obstruct, alter or in any way impair the efficient operation of the Systems, nor shall Tenant tamper with or change the setting of any thermostat or temperature control valves in the Building (this is not applicable in VAV buildings). Tenant shall not cover induction units. 9. Tenant shall not use the washrooms, restrooms and plumbing fixtures of the Building, and appurtenances thereto, for any purpose other than the purpose for which they were constructed, and Tenant shall not deposit any sweepings, rubbish, rags, or toxic or flammable products, or other improper substances, therein. Tenant shall not waste water by interfering or tampering with the faucets or otherwise. If Tenant or Tenant's employees, agents, contractors, jobbers, licensees, invitees, guests or visitors cause any damage to such washrooms, restrooms, plumbing fixtures or appurtenances, such damage shall be repaired at Tenant's expense, and Landlord shall not be responsible therefor. 10. Subject to applicable fire or other safety regulations, all doors opening onto Common Areas and all doors upon the perimeter of the Demised Premises shall be kept closed and, during non-business hours, locked, except when in use for ingress or egress. If Tenant uses the Demised Premises after regular business hours or on non-business days, Tenant shall lock any entrance doors to the Building or to the Demised Premises used by Tenant immediately after using such doors. Tenant shall cooperate with energy conservation by limiting use of lights to areas occupied during non-business hours. 11. Employees of Landlord shall not receive or carry messages for or to Tenant or any other person, nor contract with nor render free or paid services to Tenant or Tenant's employees, contractors, jobbers, agents, invitees, licensees, guests or visitors. In the event that any of Landlord's employees perform any such services, such employees shall be deemed to be the agents of Tenant regardless of whether or how payment is arranged for such services, and Tenant hereby indemnifies and holds Landlord harmless from any and all liability in connection with any such services and any associated injury or damage to property or injury or death to persons resulting therefrom. 12. All keys to the exterior doors of the Demised Premises shall be obtained by Tenant from Landlord, and Tenant shall pay to Landlord a reasonable deposit determined by Landlord from time to time for such keys. Tenant shall not make duplicate copies of such keys. Tenant shall, upon the termination of this Agreement in accordance its tenancy, provide Landlord with its termsthe combinations to all combination locks on safes, the Parties shallsafe cabinets, and other key-controlled mechanisms therein, whether or not such keys were furnished to Tenant by Landlord. In the event of the loss of any key furnished to Tenant by Landlord, Tenant shall cause their controlled Affiliatespay to Landlord the cost of replacing the same or of changing the lock or locks opened by such lost key if Landlord shall deem it necessary to make such a change. The word "key" as used herein shall refer to keys, to take keycards, and all such actions means of obtaining access through restricted access systems. 13. No signs, advertisements or notes shall be painted or affixed on or to any windows, doors or other parts of the Building visible from the exterior (other than as are necessary to maintain the Existing Lease in full force and effect on its current terms, including (i) extending expressly permitted by the terms of the Existing Lease following execution Lease), or to any Common Area or public area of this Agreement the Building. 14. Landlord will provide and maintain a directory board for the Building, in the main lobby of the Building, and no later than thirty (30) days prior other directories shall be allowed. 15. All contractors, contractors' representatives and installation technicians tendering any service to Tenant shall be referred by Tenant to Landlord for Landlord's supervision, approval and control before the performance of any contractual service. This provision shall apply to all work performed in the Building. 16. After initial occupancy, movement in or out of the Building of furniture or office equipment, or dispatch or receipt by Tenant of any bulky material, merchandise or material which requires use of elevators shall be restricted to the expiration use of its then-current termsfreight elevators only. Absolutely no carts or dollies are allowed through the main entrances or on passenger elevators. All items not hand carried must be delivered via the appropriate loading dock and freight elevator, (ii) not giving any notice of termination under the Existing Lease and (iii) making such filings with the FCC, in good faith cooperation with the other Parties, as may be necessary in connection with the foregoingif any. (b) Effective as 17. No portion of the earlier Demised Premises shall at any time be used or occupied as sleeping or lodging quarters. 18. Landlord shall have the power to occur prescribe the weight and position of Closing safes and other heavy equipment, which shall in all cases, to distribute weight, stand on supporting devices approved by Landlord. All damages done to the termination Building by taking in or putting out any property of this Agreement in accordance with Section 7.1(a)(vi)Tenant, notwithstanding anything or done by Tenant's Property while in the Existing Building, shall be repaired at the expense of Tenant. 19. For purposes hereof, the terms "Landlord", "Landlord's Agent", "Tenant", "Complex", "Building", "Demised Premises", "Tenant's Property" and "Systems" are defined in the Lease to the contrary, the Existing Lease automatically shall terminate in full which these rules and be of no further force or effect such that, subject to the following sentence, no Party or any of its Affiliates will have any further Liability thereunder, and the Parties shall, and shall cause their Affiliates to, take all such actions as regulations are necessary to effect such terminationattached. Any amount prepaid by the T-Mobile Parties or their Affiliates, solely with respect to the prepayment period (which shall be no longer than six (6) months) that commences prior to the Closing Date and ends after the Closing Date under the Existing Lease, if any (which amount shall be calculated by prorating the number of days elapsed following the Closing Date Wherever these terms appear in the applicable period), rules and regulations they shall reduce have the amount of same meaning as defined in the Purchase Price, and any amounts unpaid by the T-Mobile Parties or their Affiliates with respect to the period occurring prior to the Closing Date shall be paid on the Closing DateLease.

Appears in 1 contract

Samples: Office Building Lease (Techteam Global Inc)

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Existing Lease. (a) Until the earlier of the Closing or the termination of this Agreement in accordance with its terms, the Parties shall, and shall cause their controlled Affiliates, to take all such actions as are necessary to maintain the Existing Lease in full force and effect on its current termsterms with respect to the Seller Licenses, including (i) extending the terms of the Existing Lease following execution of this Agreement no later than thirty (30) days prior to the expiration of its then-current terms, (ii) not giving any notice of termination under the Existing Lease and (iii) making such filings with the FCC, in good faith cooperation with the other Parties, as may be necessary in connection with the foregoing. (b) Effective as of the earlier to occur of Closing and the termination of this Agreement in accordance with Section 7.1(a)(vi), notwithstanding anything in the Existing Lease to the contrary, the Existing Lease automatically shall terminate in full and be of no further force or effect solely with respect to the Seller Licenses (and shall remain in effect with respect to the 600 MHz licenses granted by the FCC subject to the First Closing License Purchase Agreement, subject to the terms and conditions thereof) such that, subject to the following sentenceSection 5.6(c), no Party or any of its Affiliates will have any further Liability thereunder, and the Parties shall, and shall cause their Affiliates to, take all such actions as are necessary to effect such termination. . (c) Any amount prepaid by the T-Mobile Parties or their Affiliates, solely with respect to the prepayment period and solely with respect to the Seller Licenses (which shall be no longer than six (6) months) that commences prior to the Closing Date and ends after the Closing Date under the Existing Lease, if any (which amount shall be calculated by prorating the number of days elapsed following the Closing Date in the applicable period), shall reduce the amount of the Purchase Price, and any amounts unpaid by the T-Mobile Parties or their Affiliates with respect to the period occurring prior to the Closing Date and with respect to the Seller Licenses shall be paid on the Closing Date.

Appears in 1 contract

Samples: License Purchase Agreement (T-Mobile US, Inc.)

Existing Lease. (aA) Until the earlier Landlord and Tenant hereby acknowledge that American Capital Access Service Corporation, Tenant’s subsidiary, is presently in possession of the Closing or entire 47th floor of the termination Building and a portion of this Agreement in accordance with its termsthe 48th floor of the Building (collectively, the Parties shall“Existing Premises”) as more particularly shown in Exhibit A-1 annexed hereto pursuant to the terms of (i) that certain Lease dated August 7, 1998 (the “1998 Lease”) by and between MSDW 000 Xxxxxxxx Property, L.L.C., as predecessor-in-interest to Landlord, as landlord, and American Capital Access Service Corporation, as predecessor-in-interest to Tenant, as tenant, together with and as modified by (i) First Amendment of Lease dated May 21, 1999 (the “First Amendment”; the 1998 Lease and the First Amendment are, collectively, the “Existing Lease”). The Existing Lease shall cause their controlled Affiliatesexpire by its terms on August 31, 2009. Landlord agrees to take all such actions as are necessary to maintain credit the security deposit held under the Existing Lease in full force and effect on its current termstowards the Security Deposit due under this Lease. Prior to the Existing Premises Commencement Date, including (i) extending the terms and conditions of the Existing Lease following execution shall govern the occupancy of this Agreement no later than thirty the Existing Premises; provided, however that (30i) days prior to the expiration provisions of its then-current terms, (ii) not giving any notice Article Seventh and Article Eighth of termination under the Existing Lease (Refusal Space and (iiiOption Space) making such filings with the FCC, in good faith cooperation with the other Parties, as may be necessary in connection with the foregoing. (b) Effective as of the earlier to occur of Closing are hereby deleted and the termination of this Agreement in accordance with Section 7.1(a)(vi), notwithstanding anything in the Existing Lease to the contrary, the Existing Lease automatically shall terminate in full and be of no further force or effect such thatand (ii) Tenant may elect to perform Tenant’s Initial Alteration prior to Commencement Date, subject to the following sentenceprovisions of Article 2 hereof. (B) Effective as of the Additional Premises Commencement Date, no Party or any the Premises shall be deemed to consist of its Affiliates will have any further Liability thereunder(i) the Existing Premises and (ii) an additional portion of the 48th floor of the Building (the “Additional Premises”) as more particularly shown on Exhibit A-2 annexed hereto, and the Parties term “Premises” shall mean the Existing Premises and the Additional Premises. Tenant acknowledges the Additional Premises are occupied by Platinum Technology International, Inc. (“Platinum”), another tenant of the Building under the terms of a lease which shall expire as of October 31, 2009 (the “Platinum Lease”). Landlord acknowledges that Platinum, as sublandlord and Tenant, as subtenant, have entered into a sublease dated October 19, 2006 (the “ACA Sublease”). The parties hereby acknowledge that the premises demised under the ACA Sublease (the “Sublease Premises”) are the same space as the Additional Premises demised under this Lease. (C) Landlord and Tenant hereby acknowledge that any default by Tenant under the Existing Lease beyond the expiration of applicable notice and cure periods (or under the sublease affecting the Additional Premises) shall, and shall cause their Affiliates toat Landlord’s option, take all such actions as are necessary to effect such terminationbe deemed a default under the terms of this Lease. Any amount prepaid by the T-Mobile Parties or their Affiliates, solely with respect Notwithstanding anything to the prepayment period contrary, in the event the Existing Lease (which shall be no longer than six (6and/or the sublease affecting the Additional Premises) months) that commences is terminated or expires pursuant to its terms prior to the Closing Commencement Date and ends after of this Lease, or Landlord or Tenant exercise a right of termination pursuant to the Closing Date under terms of the Existing Lease, if any (which amount this Lease shall be calculated by prorating deemed void ab initio. Upon such termination Landlord shall have the number of days elapsed following the Closing Date in the applicable period), shall reduce the amount right to retain a portion of the Purchase Price, and any amounts unpaid by Security Deposit as provided in Section 8.01 (D) hereof. Any security deposit held under the T-Mobile Parties or their Affiliates with respect to the period occurring prior to the Closing Date shall Existing Lease may be paid on the Closing Date.applied towards payment of Tenant’s obligations under this Lease

Appears in 1 contract

Samples: Office Building Lease (ACA Capital Holdings Inc)

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