Common use of Expansion of the Premises Clause in Contracts

Expansion of the Premises. The parties acknowledge and agree that the Premises shall be enlarged by the addition of the Fifth Floor Expansion Area upon delivery thereof by Landlord to Tenant, broom-clean with base building systems in good working order, with appropriate decommissioning thereof by the current occupant thereof, and free of claims of other occupants, but otherwise in its current condition, “As Is” and “Where Is,” with no representations or warranty by the Landlord as to the condition thereof or suitability thereof for Tenant’s intended use. The Fifth Floor Expansion Commencement Date shall be November 16, 2018 (the “Target Date”). If Landlord does not deliver the Fifth Floor Expansion Area on the Target Date in the condition required herein, then the Fifth Floor Expansion Commencement Date and the payment of Annual Fixed Rent attributed to the Fifth Floor Expansion Area shall be delayed until Landlord delivers the Fifth Floor Expansion Area in the condition required herein. Tenant covenants that it shall perform Tenant’s Work in the Fifth Floor Expansion Area (as more fully set forth in Paragraph 4 of this Third Amendment) and shall commence payment of Annual Fixed Rent and Additional Rent thereon as provided in Paragraphs 6 and 7 of this Third Amendment. From and after the Fifth Floor Expansion Commencement Date, the Premises shall contain 47,493 rentable square feet for all purposes including the calculation of Tenant’s share of Operating Expenses and Real Estate Taxes, and any reference in the Lease to Premises shall thereupon and thereafter include and refer to the Fifth Floor Expansion Area, PROVIDED, HOWEVER, that Annual Fixed Rent on the Fifth Floor Expansion Area shall be as set forth in Paragraph 6 of this Third Amendment. Landlord agrees to provide an allowance to Tenant for the performance of Tenant’s Work as more fully set forth in Paragraph 5 hereof.

Appears in 1 contract

Samples: Lease Agreement (Voyager Therapeutics, Inc.)

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Expansion of the Premises. The parties acknowledge In the event that Tenant provides Landlord with its Notice of Intent to lease the Option Space in the manner provided hereinabove, then, no later than thirty (30) days following Tenant's receipt of Landlord's Notice of Availability (or five (5) business days following Tenant's receipt of the "Amendment" from Landlord, as provided hereinafter, whichever is later), Landlord and agree that Tenant shall execute an amendment to this Lease (the "Amendment") to be prepared by Landlord documenting the expansion of the Premises to include the Option Space, which shall be enlarged by the addition subject to all existing terms of the Fifth Floor Expansion Area upon delivery thereof by Landlord Lease except as specified in Landlord's Notice of Availability; the Option Space Rent; and the date on which the Option Space is to Tenantbecome a part of the Premises, broom-clean as set forth in Landlord's Notice of Availability. In the event that Tenant elects to proceed with base building systems in good working order, with appropriate decommissioning thereof by the current occupant thereof, and free of claims of other occupants, but otherwise in its current condition, “As Is” and “Where Is,” with no representations or warranty by the Landlord as to the condition thereof or suitability thereof for Tenant’s intended use. The Fifth Floor Expansion Commencement Date shall be November 16, 2018 (the “Target Date”). If Landlord does not deliver the Fifth Floor Expansion Area on the Target Date in the condition required Arbitration procedure set forth herein, then the Fifth Floor Expansion Commencement Date and Amendment presented to Tenant documenting the payment expansion of Annual Fixed Rent attributed the Premises shall provide that the rent initially applicable to the Fifth Floor Expansion Area Option Space shall be delayed until Landlord delivers the Fifth Floor Expansion Area in the condition required herein. Tenant covenants that it shall perform Tenant’s Work in the Fifth Floor Expansion Area (as more fully Option Space Rent set forth in Paragraph 4 Landlord's Notice of Availability, until the same is determined through the Arbitration procedure, and upon completion of the Arbitration procedure, the parties shall execute a further amendment to this Lease documenting the amount of the Option Space Rent as determined by Arbitration. In the event that Tenant fails to execute the Amendment within the time required by the terms of this Third Amendment) and paragraph, then the Right of First Offer shall commence payment of Annual Fixed Rent and Additional Rent thereon terminate as provided in Paragraphs 6 and 7 of this Third Amendment. From and after to the Fifth Floor Expansion Commencement Date, the Premises shall contain 47,493 rentable square feet for all purposes including the calculation of Tenant’s share of Operating Expenses and Real Estate TaxesOption Space, and Landlord shall thereafter be entitled to market and lease the Option Space to any reference in the Lease to Premises shall thereupon prospective tenant upon such terms and thereafter include and refer to the Fifth Floor Expansion Area, PROVIDED, HOWEVER, that Annual Fixed Rent on the Fifth Floor Expansion Area shall be conditions as set forth in Paragraph 6 of this Third Amendment. Landlord agrees to provide an allowance to Tenant for the performance of Tenant’s Work as more fully set forth in Paragraph 5 hereofmay deem appropriate.

Appears in 1 contract

Samples: Idealab

Expansion of the Premises. The parties acknowledge With respect to the Expansion Premises, all references to the “Lease Term” in the Lease and agree that the Premises this Amendment shall be enlarged by deemed references to the addition Suite 100 Term (as defined in Section 2.a [Suite 100 Term] below), the Suite 160 Term (as defined in Section 2.b [Suite 160 Term] below), and the Suites 140A and 240 Term (as defined in Section 2.c [Suites 140A and 240 Term]), as applicable. The Xxxxx 000 Xxxx, xxx Xxxxx 000 Term, and the Suites 140A and 240 Term are sometimes collectively referred to herein as the “Expansion Term.” The Suite 100 Expansion Date, the Suite 160 Expansion Date, and the Suites 140A and 240 Expansion Date are sometimes collectively referred to herein as the “Expansion Dates.” Promptly following substantial completion of the Fifth Floor Expansion Area upon delivery thereof by Landlord Tenant Improvements pursuant to Tenant, broom-clean with base building systems in good working order, with appropriate decommissioning thereof by the current occupant thereofSection 11 (Tenant Improvements) below, and free of claims of other occupantsthe Building Upgrades to Building 4 pursuant to Section 12 (Building Upgrades) below, but otherwise which work is expected to result in its current condition, “As Is” and “Where Is,” with no representations or warranty by the Landlord as changes to the condition thereof or suitability thereof rentable square feet of the Building, Landlord shall, at its sole cost and expense, cause Landlord’s architect to measure the rentable square feet of the Modified Premises pursuant to the Standard Method for Tenant’s intended useMeasuring Floor Area in Office Buildings, ANSI Z65.1-2010 (“BOMA”). The Fifth Floor Expansion Commencement Date Landlord shall be November 16, 2018 cause its architect to deliver to Tenant written notice (the “Target DateLandlord’s Measurement Notice”), setting forth Landlord’s architect’s measurement of the Modified Premises (“Landlord’s Measurements”) for incorporation into an amendment to the Lease (in accordance with Section 5 [Base Rent] below). Landlord’s Measurements shall be subject to Tenant’s right to have such measurements confirmed by an architect or other qualified space measurement consultant retained by Tenant (the “Tenant’s Measurement Consultant”), at Tenant’s sole cost and expense, within ten (10) business days following Tenant’s receipt of Landlord’s Measurement Notice. Upon Tenant’s request, within such ten (10) business day period, Landlord agrees to reasonably support Tenant’s efforts to confirm Landlord’s Measurements as follows: (i) if requested by Tenant, Landlord shall cause Landlord’s architect to consult with Tenant’s Measurement Consultant in such efforts; and (ii) Landlord shall permit Tenant’s Measurement Consultant to field-check Landlord’s Measurements. If Tenant’s Measurement Consultant reasonably determines that any of Landlord’s Measurements are incorrect, Tenant shall have the right to deliver to Landlord a written notice of such determination (the “Tenant’s Objection Notice”) within fifteen (15) business days following Tenant’s receipt of Landlord’s Measurement Notice. Promptly following Tenant’s delivery to Landlord of Tenant’s Objection Notice, Landlord and Tenant and their respective architects and space measurement consultants shall promptly meet in good faith in an attempt to resolve any disagreement regarding the measurement of the Premises. If Tenant and Landlord reach mutual agreement regarding any modifications to Landlord’s Measurements for incorporation into the Lease, such mutually-approved measurements shall be the Binding Measurements (as hereinafter defined). If Tenant fails to timely deliver Tenant’s Objection Notice, Landlord’s Measurements shall be deemed to be the Binding Measurements. Otherwise, if Landlord and Tenant are unable, despite their mutual good faith efforts, to agree upon the Binding Measurements within thirty (30) days following the date of Landlord’s receipt of Tenant’s timely Objection Notice, then the parties shall (i) promptly appoint a mutually-selected independent architect to field-check the measurements set forth in Landlord’s Measurement Notice in accordance with BOMA, to be retained at a cost to be split evenly by Landlord and Tenant, and (ii) submit their respective measurements of the rentable square feet of the Modified Premises and Building 4 (in those amounts last proposed in writing to the other party pursuant to the parties’ good faith efforts to resolve such disagreement, their respective “Final Proposed Measurements”). If Landlord does not deliver The measurement of the Fifth Floor Expansion Area on the Target Date in the condition required herein, then the Fifth Floor Expansion Commencement Date and the payment of Annual Fixed Rent attributed to the Fifth Floor Expansion Area shall be delayed until Landlord delivers the Fifth Floor Expansion Area in the condition required herein. Tenant covenants that it shall perform Tenant’s Work in the Fifth Floor Expansion Area (as more fully set forth in Paragraph 4 of this Third Amendment) and shall commence payment of Annual Fixed Rent and Additional Rent thereon as provided in Paragraphs 6 and 7 of this Third Amendment. From and after the Fifth Floor Expansion Commencement Date, the Premises shall contain 47,493 rentable square feet for all purposes including of the calculation Modified Premises and Building 4 as determined by the independent architect shall be binding on the parties (the “Binding Measurements”) and incorporated into the Lease effective as of Tenant’s share the Expansion Dates in accordance with Section 5 (Base Rent) below. Each party shall bear the cost of Operating Expenses its own architect or space measurement consultant in performing measurements and Real Estate Taxesparticipating in the verification and consultation rights and obligations under this Section 2 (Expansion of the Premises), and the cost of any reference in the Lease to Premises shall thereupon and thereafter include and refer to the Fifth Floor Expansion Area, PROVIDED, HOWEVER, that Annual Fixed Rent on the Fifth Floor Expansion Area mutually-selected independent architect shall be as set forth in Paragraph 6 equally borne by the parties. For purposes of this Third Amendment. Landlord agrees to provide an allowance to Tenant for , the performance rentable square footage of Tenant’s Work as more fully set forth in Paragraph 5 hereofthe Modified Premises and Building 4 shall be calculated using a twelve percent (12%) load factor.

Appears in 1 contract

Samples: Lease (Control4 Corp)

Expansion of the Premises. The parties acknowledge and agree that That certain space located on the Premises shall be enlarged by the addition first (1st) floor of the Fifth Floor Expansion Area upon delivery thereof by Landlord to Tenant, broom-clean with base building systems in good working order, with appropriate decommissioning thereof by the current occupant thereof, located and free addressed at 0000 Xxxxxxx Xxxxxx consisting of claims of other occupants, but otherwise in its current condition, “As Is” 8,375 (7,295 usable) rentable square feet and “Where Is,” with no representations or warranty by the Landlord known as to the condition thereof or suitability thereof for Tenant’s intended use. The Fifth Floor Expansion Commencement Date shall be November 16, 2018 (the “Target Date”). If Landlord does not deliver the Fifth Floor Expansion Area Suite 100 and that certain space located on the Target Date in first (1st) floor of the condition required hereinbuilding located and addressed at 0000 Xxxxxxx Xxxxxx consisting of 15,344 rentable (13,366 usable) square feet and known as Suite 100, then as outlined on the Fifth Floor floor plan attached hereto as Exhibit "A" and made a part hereof, may be referred to herein as the "EXPANSION SPACE." Effective as of September 1, 1998 ("EXPANSION COMMENCEMENT DATE"), Tenant shall lease from Landlord and Landlord shall lease to Tenant the Expansion Commencement Date and Space. Accordingly, effective upon the payment of Annual Fixed Rent attributed to the Fifth Floor Expansion Area shall be delayed until Landlord delivers the Fifth Floor Expansion Area in the condition required herein. Tenant covenants that it shall perform Tenant’s Work in the Fifth Floor Expansion Area (as more fully set forth in Paragraph 4 of this Third Amendment) and shall commence payment of Annual Fixed Rent and Additional Rent thereon as provided in Paragraphs 6 and 7 of this Third Amendment. From and after the Fifth Floor Expansion Commencement Date, the Existing Premises shall contain 47,493 be increased to include the Expansion Space. Landlord and Tenant hereby agree that such addition of the Expansion Space to the Existing Premises shall, effective as of the Expansion Commencement Date, increase the number of rentable square feet for all purposes including the calculation of Tenant’s share of Operating Expenses and Real Estate Taxes, and any reference leased by Tenant in the Lease Building to Premises a total of 35,346 rentable square feet. Effective as of the Expansion Commencement Date, all references to the "Premises" shall thereupon and thereafter include mean and refer to the Fifth Floor Existing Premises as expanded by the Expansion AreaSpace. Notwithstanding anything to the contrary contained herein, PROVIDEDTenant shall have the right to commence business from the Expansion Space during the period prior to the Expansion Commencement Date (the "EARLY OCCUPANCY PERIOD"), HOWEVERprovided that (i) Tenant shall give Landlord at least ten (10) days prior notice of any such occupancy of the Expansion Space and (ii) all of the terms and conditions of the Lease, that Annual Fixed as amended by this First Amendment shall apply, including Tenant's obligations to pay Monthly Base Rent on for the Fifth Floor portion of the Expansion Area Space so utilized by Tenant (which rent shall be as set forth in Paragraph 6 prorated based upon the number of this Third Amendment. Landlord agrees to provide an allowance to Tenant for the performance rentable square feet of Tenant’s Work as more fully set forth in Paragraph 5 hereofsuch space at Two Dollars ($2.00) per rentable square foot per month).

Appears in 1 contract

Samples: Firstworld Communications Inc

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Expansion of the Premises. The parties acknowledge That certain space located on the first ------------------------- (1st), mezzanine and agree third (3rd) floors of the Building consisting of 15,840 rentable square feet, known as Suites 101 (2,651 rentable square feet), 102 (1,014 rentable square feet), M-100 (3,585 rentable square feet) and 310 (8,590 rentable square feet), as outlined on the floor plan attached hereto as Exhibits. "A-1" through "A-3" and made a part hereof, is referred to herein as the "Expansion Space." Tenant shall lease portions of the Expansion Space in phases, effective as of the date ("Expansion Commencement Date") that is the date Landlord tenders possession of the applicable portion of the Expansion Space to Tenant. Accordingly, effective upon the Expansion Commencement Date for a particular portion of the Expansion Space, the Existing Premises shall be enlarged by increased to include such portion of the Expansion Space. The addition of the Fifth Floor entire Expansion Area upon delivery thereof by Landlord to Tenant, broom-clean with base building systems in good working order, with appropriate decommissioning thereof by the current occupant thereof, and free of claims of other occupants, but otherwise in its current condition, “As Is” and “Where Is,” with no representations or warranty by the Landlord as Space to the condition thereof or suitability thereof for Tenant’s intended use. The Fifth Floor Expansion Commencement Date shall be November 16Existing Premises shall, 2018 (effective as of the “Target Date”). If Landlord does not deliver the Fifth Floor Expansion Area on the Target Date in the condition required herein, then the Fifth Floor Expansion Commencement Date and the payment of Annual Fixed Rent attributed to the Fifth Floor Expansion Area shall be delayed until Landlord delivers the Fifth Floor Expansion Area in the condition required herein. Tenant covenants that it shall perform Tenant’s Work in the Fifth Floor Expansion Area (as more fully set forth in Paragraph 4 of this Third Amendment) and shall commence payment of Annual Fixed Rent and Additional Rent thereon as provided in Paragraphs 6 and 7 of this Third Amendment. From and after the Fifth Floor last Expansion Commencement Date, increase the Premises shall contain 47,493 number of rentable square feet for all purposes including leased by Tenant in the calculation Building to a total of Tenant’s share of Operating Expenses 32,391 rentable square feet. The Expansion Commencement Date is anticipated to be July 1, 2000 as to Suite 101, August 1, 2000 as to Suites M-100 and Real Estate Taxes102, and any reference November 1, 2000 as to Suite 310; however, Landlord will not be in default under the Lease if the applicable Expansion Commencement Date does not occur by such dates. In the event that Landlord has not delivered the applicable portion of the Expansion Space to Premises shall thereupon and thereafter include and refer to Tenant on or before the Fifth Floor Expansion Area, PROVIDED, HOWEVER, that Annual Fixed Rent on the Fifth Floor Expansion Area "Outside Date," which shall be one hundred eighty (180) days after the anticipated date of delivery of such portion of the Expansion Space, then the sole remedy of Tenant shall be the right to deliver a notice to Landlord (the "Outside Date Termination Notice") electing to terminate this Amendment as set forth in Paragraph 6 to that portion of this Third Amendmentthe Expansion Space only (and monthly Base Rent and Lessee's Percentage Share shall be adjusted accordingly and the Stated Amount of the Letter of Credit shall be decreased by an amount equal to $61.75 multiplied by the number of rentable square feet terminated by Tenant), effective upon receipt of the Outside Date Termination Notice by Landlord (the "Effective Date"). Landlord agrees Except as provided hereinbelow, the Outside Date Termination Notice may be delivered by Tenant to provide an allowance to Tenant for Landlord, if at all, during the performance period from the Outside Date through the date of Tenant’s Work as more fully set forth in Paragraph 5 hereof.delivery of the applicable portion of the

Appears in 1 contract

Samples: Plumtree Software Inc

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