Common use of Expansion Premises Clause in Contracts

Expansion Premises. Provided that (i) Tenant has not assigned the Lease, and (ii) not more than 50% of the Premises are then subject to a sublease (whether the term of the sublease has commenced or is to be commenced thereafter), then Tenant shall lease the entirety of approximately 21,142 rentable square feet of space located on the third floor of the Building (collectively, "Expansion Space") upon the earlier to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date"), or (ii) the date on which the Expansion Space is substantially completed in accordance with subsection (A) below in the event Tenant provides written notice to Landlord that Tenant has elected to take the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all the terms and conditions of this Lease then in effect with respect to the initial Premises, provided all terms of the Lease based upon the rentable square feet of the Premises shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:

Appears in 1 contract

Samples: Lease (CMG Information Services Inc)

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Expansion Premises. (a) Provided that that: (i) the Tenant is a Permitted Tenant; (ii) the Tenant has not assigned been notified of a default in the Leaseperformance of its obligations under this lease which it has failed to cure within the times required by this lease and, subject to such notice but irrespective of cure, has not otherwise been in persistent default of its obligations under this lease; and (iii) with respect to the Second Expansion Premises, the Tenant has been and remains in continuous actual possession, occupancy and use of no less than 74,171 square feet of Rentable Space in the Building from the commencement of the Term until February 1, 1997, then the tenant shall be entitled to lease the First Expansion Premises and the Second Expansion Premises in accordance with this paragraph 3. (b) The first of such additional premises (the "First Expansion Premises") shall comprise one full floor of no less than 9,100 square feet of Rentable Space and no more than 15,000 square feet of Rentable Space within either One Park Centre or Two Park Centre. (c) The second of such additional premises (the "Second Expansion Premises") shall comprise one full floor of no less than 9,100 square feet of Rentable Space and no more than 15,000 square feet of Rentable Space within either One Park Centre or Two Park Centre; (d) In order to exercise its right to lease the First Expansion Premises, the Tenant must provide Notice to the Landlord (the "First Notice") electing to lease the First Expansion Premises on or before April 30, 1996. Within fifteen (15) business days of receipt of the First Notice the Landlord shall give the Tenant Notice (the "First Response") of the possible space within the Building which could constitute the First Expansion Premises, and the area of each such space and the Tenant shall have five (5) business days from its receipt of the First Response to elect which particular space identified in the First Response it wishes to designate as the First Expansion Premises. If the Tenant exercises its rights with respect to the First Expansion Premises, then the space so designated by it from the space identified in the First Response shall be leased to the Tenant as the First Expansion Premise, and the Fixed Rent payable by the Tenant with respect thereto shall be calculated at the rate of $3.40 per square foot per annum of the actual Rentable Space comprising the First Expansion Premises, which shall be payable in equal monthly installments, in advance, in the same manner as the Fixed Rent for the Initial Premises. (e) In order to exercise its right to lease the Second Expansion Premises, the Tenant must provide Notice to the Landlord (the "Second Notice") electing to lease the Second Expansion Premises on or before February 1, 1997. Within fifteen (15) business days of receipt of the Second Notice the Landlord shall give the Tenant Notice (the "Second Response") of the possible space within the Building which could constitute the Second Expansion Premises, and the area of each such space and the Tenant shall have five (5) business days from its receipt of the Second Response to select which particular space identified in the Second Response it wishes to designate as the Second Expansion Premises. If the Tenant exercises its rights with respect to the Second Expansion Premises, then the space so designated by it from the space identified in the Second Response shall be leased to the Tenant as the Second Expansion Premise, and the Fixed Rent payable by the Tenant with respect thereto shall be calculated at the rate of $3.60 per square foot per annum of the actual Rentable Space comprising the Second Expansion Premises, which shall be payable in equal monthly installments, in advance, in the same manner as the Fixed Rent for the Initial Premises. (f) The following additional terms and conditions shall apply to the First Expansion Premises and the Second Expansion Premises: (i) the expiry date of the Tenant's term of occupancy of the First Expansion Premises or Second Expansion Premises will be co- terminus with the Expiration of the Term; (ii) not more than 50% if the Tenant fails to give written notice to the Landlord exercising its rights with respect to the First Expansion Premises prior to April 30, 1996 or with respect to the Second Expansion Premises prior to February 1, 1997, the rights of the Tenant with respect hereto shall be null and void and of no further effect and the Landlord will be entitled to market the space which would otherwise have comprised such expansion premises to unrelated third party tenants; (iii) if the Tenant exercises its rights for the First Expansion Premises or the Second Expansion Premises, such premises shall become part of the Premises are then subject to a sublease no earlier than sixty (whether the term of the sublease has commenced or is 60) days and no later than one hundred and eighty (180) days (to be commenced thereafter)determined by the Landlord acting reasonably) after the Landlord receives the First Notice or the Second Notice, then Tenant as the case may be. The First Response and the Second Response shall lease the entirety of approximately 21,142 rentable square feet of space located on the third floor of the Building (collectively, "Expansion Space") upon the earlier to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date"), or (ii) specify the date on which the First Expansion Space is substantially completed in accordance with subsection Premises and the Second Expansion Premises, respectively will become part of the Premises; (Aiv) below the Tenant shall be granted a thirty (30) day fixturing period immediately prior to each of the First Expansion Premises and Second Expansion Premises becoming part of the Premises during which time the Tenant will be given occupancy of such premises for the purposes of preparing same for its use without the payment of Fixed Rent or additional rent (including, without limitation, Operating Cost and Taxes), except for the cost of utilities consumed by it in the event Tenant provides written notice to Landlord that Tenant has elected to take the First Expansion Premises or Second Expansion Premises, as the case may be; (v) the Landlord shall, at the Tenant's request by Notice and prior to the Outside commencement of the fixturing period for the First Expansion Premises Commencement Date and Second Expansion Premises, as the case may be, remove all existing leasehold improvements in such expansion premises, at the Landlord's sole cost and expense. Apart from the removal of those leasehold improvements which the Tenant requires the Landlord to remove, the Landlord shall have no other obligations to make repairs or other improvements in the First Expansion Premises or Second Expansion Premises and the Tenant acknowledges that it will take the First Expansion Premises or Second Expansion Premises in absolutely "as is" condition; and (which notice shall include a designation vi) the Landlord agrees that the aggregate Rentable Space of the portions First Expansion Premises and Second Expansion Premises offered to the Tenant shall not be less than 23,000 square feet of Rentable Space. By way of example, if the First Expansion Space to be used as office area and Premises offered by the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Landlord comprise 10,000 square feet of Rentable Space"; (B) except for the Base Rent and Additional Rent, the premises offered by it as the Second Expansion Space shall be leased on all Premises would comprise no less than 13,000 square feet of Rentable Space. (g) Except as set out in this paragraph 3, or as otherwise provided in this lease, the terms and conditions of this Lease then in effect lease shall apply to both the First Expansion Premises and the Second Expansion Premises but for purposes of clarity there shall be no rent-free periods provided for by the Landlord with respect to either the initial First Expansion Premises or Second Expansion Premises, provided all terms of the Lease based upon the rentable square feet of . The parties will enter into an appropriate lease amending agreement to include such expansion premises within the Premises shall be adjusted and to amend the provisions relating to Fixed Rent accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:.

Appears in 1 contract

Samples: Lease Amending Agreement (Symantec Corp)

Expansion Premises. Provided that (a) Landlord and Tenant hereby agree to add the Expansion Premises to the Premises in two (2) stages, with (i) Tenant has not assigned the Leasefirst stage consisting of the addition to the Premises, as of the First Expansion Commencement Date (as hereinafter defined), of that portion of the Expansion Premises consisting of approximately fourteen thousand nine hundred seventy-three (14,973) rentable square feet shown on First Amendment Exhibit A attached hereto ("Expansion Premises A"), and (ii) not more than 50% the second stage consisting of the Premises are then subject addition to a sublease (whether the term Premises, as of the sublease has commenced or is to be commenced thereafterSecond Expansion Commencement Date (as hereinafter defined), then Tenant shall lease of that portion of the entirety Expansion Premises consisting of approximately 21,142 fourteen thousand nine hundred seventy-three (14,973) rentable square feet of space located shown on the third floor of the Building First Amendment Exhibit B attached hereto (collectively, "Expansion Space") upon the earlier Premises B''). Landlord hereby leases to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date")Tenant, or (ii) the date on which the Expansion Space is substantially completed in accordance with subsection (A) below in the event and Tenant provides written notice to Landlord that Tenant has elected to take hereby rents from Landlord, the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all upon the terms and conditions of this Lease then in effect with respect First Amendment (b) As of the First Expansion Commencement Date, the entire Premises shall consist of approximately seventy-six thousand eight hundred sixty (76,860) rentable square feet comprising the entire (3rd) and fourth (4th) floors and a portion of the second (2nd) floor of the Building. On the First Expansion Commencement Date, Expansion Premises A shall become part of the Premises and, except as otherwise provided below, shall be subject to all of the initial Premises, provided all terms and conditions of the Lease based upon for the remainder of the Term. (c) As of the Second Expansion Commencement Date, the entire Premises shall consist of approximately ninety-one thousand eight hundred thirty-three (91,833) rentable square feet consisting of the entire second (2nd), third (3rd) and fourth (4th) floors of the Building. On the Second Expansion Commencement Date, Expansion Premises B shall become part of the Premises and, except as otherwise provided below, shall be subject to all of the terms and conditions of the Lease for the remainder of the Term. (d) Notwithstanding anything to the contrary contained in the Lease, including but not limited to Section l, neither Expansion Premises A nor Expansion Premises B shall be subject to remeasurement and the rentable square feet of the Premises footage thereof as recited in Section 2(a) hereof shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); final, conclusive and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:controlling.

Appears in 1 contract

Samples: Lease (OMNICELL, Inc)

Expansion Premises. Provided 2.1 On August 1, 2009, Landlord shall deliver possession of the Expansion Premises and on August 1, 2009, the Original Premises shall be expanded to include the Expansion Premises (the “EP Commencement Date”). If for any reason Landlord cannot deliver possession of the Expansion Premises to Tenant by August 1, 2009, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Amendment or the obligations of Tenant hereunder. Landlord and Tenant acknowledge that Landlord shall use best efforts to complete the Turn Key Tenant Improvements listed in Exhibit B-1 by the EP Commencement Date. Landlord shall complete such Turn Key Tenant Improvements within a reasonable period of time using reasonable efforts to minimize unreasonable interfere with Tenant’s use of the Premises in the construction thereof, including performing the work outside of normal business hours and completing the work within a two week period. 2.2 From and after the EP Commencement Date, the “Premises” shall mean and refer to the aggregate of the Original Premises and the addition of the Expansion Premises consisting of a combined total of approximately 50,913 rentable square feet located at 1195 and 0000 Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxx. Accordingly, from and after the EP Commencement Date, all references in this Amendment and in the Lease to the term “Premises” shall mean and refer to 1195 and 0000 Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxx. Landlord and Tenant hereby agree that for purposes of the Lease, from and after the EP Commencement Date, the rentable square footage of the Premises shall be conclusively deemed to be 50,913 rentable square feet. 2.3 Tenant acknowledges and agrees (i) Tenant has not assigned had an opportunity to become familiar with the Leasecondition of the Expansion Premises, (ii) Tenant shall accept the Expansion Premises in a good, vacant, and professionally clean condition, and (iiiii) Landlord shall not more than 50% be obligated to provide or pay for any improvement, remodeling or refurbishment work or services related to the improvement, attached hereto and made a part hereof; provided, however, Landlord shall repair at Landlord’s cost, after receipt of Tenant’s written notice thereof, which notice must be delivered to Landlord within the first one hundred eighty (180) days after Substantial Completion of the Turnkey Tenant Improvements (as defined in Exhibit B) and possession of the Expansion Premises have been tendered to Tenant any defects or deficiencies of the building systems, including without limitation, plumbing, electrical, and mechanical systems serving the Expansion Premises which are not in good working order and/or condition, to the extent Tenant or Tenant’s Work defined in Exhibit B (“Tenant’s Work”) has not caused such systems to not be in good working order and/or condition. If Tenant fails to timely deliver to Landlord any such written notice of the aforementioned defects or deficiencies within said 180-day period, Landlord shall have no obligation to perform any such work thereafter, except as otherwise specifically provided in this Amendment or the Lease. With respect to the Tenant Improvements, Landlord and Tenant shall conduct a walk through of the Premises are then within five (5) days after Substantial Completion (as defined in Exhibit B) of the Tenant Improvements and Tenant shall provide Landlord with a punch list of items needing repair or correction. Landlord shall correct such punch list items within fifteen (15) days from the day Landlord receives said punch list from Tenant. 2.4 Tenant further acknowledges and agrees that Landlord’s Turnkey Tenant Improvements shall be installed and constructed by Landlord in the Expansion Premises and Original Premises during the period of Tenant’s occupancy of the Expansion Premises; the completion of such Turnkey Tenant Improvements shall not affect Tenant’s obligation to pay rent or perform Tenant’s covenants and obligations under the Lease and this Amendment (subject to a sublease the terms of Section 2.1 above), and shall not affect the EP Commencement Date. Subject to the terms of Section 2.1 above, Tenant hereby expressly (whether the term i) agrees that Tenant shall have no right or claim to any abatement, offset or other deduction of the sublease has commenced amount of Rent payable by Tenant for the Premises due to the installation and construction of any of the Turnkey Tenant Improvements, (ii) grants Landlord access to any and all of the Premises to perform the Turnkey Tenant Improvements, (iii) so long as Landlord complies with Section 2.1, waives any rights or is claims Tenant may have at law or in equity with respect to be commenced thereafter)any interference with Tenant’s conduct of its operations in and about the Premises during the pendency of the work associated with the Turnkey Tenant Improvements, then (iv) agrees to use commercially reasonable efforts to not interfere, and to not allow any of Tenant’s Representatives to interfere, with Landlord and its contractors, representatives and consultants in the performance of the work associated with the completion of the Turnkey Tenant Improvements, and (v) agrees that Tenant’s employees, agents, contractors, consultants, workmen, mechanics, suppliers and invitees shall lease fully cooperate, work in harmony and not, in any manner, unreasonably interfere with Landlord or Landlord’s agents or representatives in performing any of the entirety of approximately 21,142 rentable square feet of space located on the third floor aforementioned work and any additional work related thereto, Landlord’s work in other areas of the Building (collectively, "Expansion Space") upon or the earlier to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date")Park, or (ii) the date on which general operation of the Expansion Space is substantially completed in accordance with subsection (A) below Building. Notwithstanding the forgoing or anything contained herein or the Lease to the contrary, in the event Landlord has not completed the Turnkey Tenant provides written notice to Landlord that Tenant has elected to take Improvements on the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space or before October 1, 2010, Tenant shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except entitled to Rent Abatement for the Base Rent and Additional Rententire Premises on a day for day basis until the Turnkey Tenant Improvements are Substantially Complete. In addition, if Landlord has still not Substantially Completed the Expansion Space Turnkey Tenant Improvements on or before December 31, 2010, Tenant shall be leased on entitled to terminate the Lease. Landlord has Tenant’s authorization to proceed with all the terms and conditions Tenant Improvement work including the Future Tenant Improvements upon full execution of this Lease then in effect with respect First Amendment to the initial Premises, provided all terms of the Lease based upon the rentable square feet of the Premises shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:Lease.

Appears in 1 contract

Samples: Lease Agreement (InvenSense Inc)

Expansion Premises. Provided that (i) Tenant has not assigned the Lease, and (ii) not more than 50% Effective as of the Premises are then subject to a sublease (whether the term of the sublease has commenced or is to be commenced thereafter), then Tenant shall lease the entirety of approximately 21,142 rentable square feet of space located on the third floor of the Building (collectively, "Expansion Space") upon the earlier to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date"), or (ii) the date on which the Expansion Space is substantially completed in accordance with subsection (A) below in the event Tenant provides written notice to Landlord that Tenant has elected to take Monthly Base Rent for the Expansion Premises prior to only (excluding the Outside Existing Premises) shall be Three Thousand One Hundred Eight and No/100 Dollars ($3,108.00) and shall increase by three percent (3%) on the first day of the twelfth (12) full calendar month after the month in which the Expansion Premises Commencement Date occurs (the “Rent Adjustment Date”) and each anniversary of the Rent Adjustment Date thereafter as follows (which notice Monthly Base Rent shall include a designation be payable in accordance with the terms of the portions of Lease and this Amendment and in addition to all other amounts due under the Lease): Expansion Space Premises Commencement Date – Rent Adjustment Date $ 3,108.00 * $ 2.40 13 – 24 $ 3,201.24 $ 2.47 25 – October 31, 2016 $ 3,297.28 $ 2.55 * Subject to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition Base Rent Credit set forth in Exhibit B under the heading: "Expansion Space"; Section 3(b)(ii) below. (Bii) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all Subject to the terms and conditions of this Lease Section 3(b)(ii), provided that Tenant is not then in effect default under the Lease beyond any applicable notice and cure periods, Tenant shall be credited with the payment of $3,108.00 of the monthly Base Rent (the “Base Rent Credit”) payable with respect to the initial Premises, provided all terms Expansion Premises only for the second (2nd) month of the Expansion Term, as and when the same becomes due and payable. No such Base Rent Credit shall reduce the amount of any other amounts which are otherwise payable by Tenant under the Lease based (including, without limitation, Tenant’s Percentage Share of any increases in Property Taxes Operating Expenses or other Additional Rent, nor any Base Rent payable with respect to the Existing Premises). Tenant understands and agrees that each installment of the foregoing Base Rent Credit is conditioned upon Tenant’s not being in default under the Lease beyond any applicable notice and cure periods. Accordingly, upon the rentable square feet occurrence of any default under the Premises Lease beyond any applicable notice and cure periods, Tenant shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term no longer receive any credit on account of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual such Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period Credit until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:such default is cured.

Appears in 1 contract

Samples: Lease (Cherokee Inc)

Expansion Premises. Provided that Tenant has not been in material default ------------------ under this Lease (i) Tenant has not assigned more than three (3) times during the Lease, and twelve (12) months preceding the time the "Tenant's Interest Notice" (as hereinafter defined) is ------------------------ received by Landlord or (ii) not more than 50% one (1) time thereafter until the date on which Tenant takes possession of the Premises are then subject to a sublease "Expansion Space" (whether as hereinafter defined), --------------- Tenant shall have the term one time option for the lease of all (but not less than all) of the sublease has commenced or is to be commenced thereafter), then Tenant shall lease the entirety of approximately 21,142 rentable eight thousand square feet of space rentable area located on the third second floor of 0000 Xxxx Xxxxxxx Xxxxx as denoted in Appendix F (which, ---------- after adjustment by Landlord, if any, as provided in this Section 31 is referred to as the Building (collectively, "Expansion Space"), exercisable as follows: If Tenant desires to --------------- expand the Premises to include all of the Expansion Space, Tenant shall deliver written notice thereof to Landlord (the "Tenant's Interest Notice") upon at any time ------------------------ after the earlier execution hereof but no later than February 28, 1999. Within twenty (20) days following Landlord's receipt of the Tenant's Interest Notice, Landlord and Tenant shall execute an amendment to occur of this Lease which (i) two expands the definition of the Premises to include the Expansion Space (2) years following subject to Landlord's right to increase or decrease the Term Commencement Date size thereof by twenty percent (the "Outside Expansion Premises Commencement Date"20%)), or (ii) the date on which the Expansion Space is substantially completed in accordance with subsection (A) below in the event Tenant provides written notice to Landlord that Tenant has elected to take the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation Tenant's lease of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in for a term co- terminus with the condition set forth in Exhibit B under the heading: "Expansion Space"; Lease Term and otherwise subject to all applicable terms and conditions of this Lease (Bexcept that, subject to (iii) except for the Base Rent and Additional Rentbelow, the Expansion Space shall be leased to Tenant on an "as-is" basis), and (iii) Landlord shall build out the Expansion Space to a general office configuration which is substantially similar to Tenant's original Premises in the subject Building (using Landlord's then current Building standard materials), excluding executive office and kitchen space, and subject to maximum cost to Landlord of fourteen dollars ($14.00) per square foot of rentable space located within the Expansion Premises. Tenant shall also be entitled to three point six (3.6) non-exclusive uncovered parking spaces for each thousand square feet of usable area contained within the Expansion Premises (prorated and rounded to the nearest whole number to the extent usable square footage is not evenly divisible by 1,000)). Tenant's lease of the Expansion Premises and payment of Rent therefore shall commence on July 1, 1999, but Tenant shall be entitled to enter the Expansion Space commencing in May, 1999 solely for the purpose of commencing renovation and/or construction of any improvements which Tenant desires in the Expansion Space. Tenant's entry onto the Premises for such purpose and renovation and/or construction therein shall be subject to all of the terms and conditions of this Lease then in effect Lease, excluding the obligation to pay Base Rent, Operating Costs Share Rent and Tax Share Rent, but including, without limitation, the obligation to deliver to Landlord proof of the insurance required hereunder with respect to the initial Expansion Premises. If Tenant exercises its rights under this Section 31, provided then (i) the "Premises" shall thereafter be deemed for all terms of purposes to include the Expansion Space and (ii) Tenant's Base Rent, Operating Cost Share Rent, Parking Rent, if applicable, Tax Share Rent, Security Deposit, and other matters in this Lease based upon determined by the rentable square feet size of the Premises shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:reasonably determined by Landlord.

Appears in 1 contract

Samples: Lease (Pinkertons Inc)

Expansion Premises. Provided On the conditions (“Expansion Conditions”) (which conditions Landlord may waive, at its election, by written notice to Tenant at any time) that both at the time that Tenant delivers its Expansion Request Notice and/or its Expansion Exercise Notice (as such terms are hereinafter defined) and as of the date upon which the Expansion Premises (as defined below) would have otherwise become incorporated into the Premises: (i) there exists no Event of Default and there have been no more than three (3) Events of Default during the Term, (ii) this Lease is still in full force and effect, and (iii) Tenant has neither assigned this Lease nor sublet more than thirty-three percent (33%) of the Rentable Floor Area of the Premises in the aggregate (except for an assignment or subletting permitted without Landlord’s consent under Section 12.5 hereof), Tenant shall have the one-time option (“Expansion Option”) to lease the Expansion Premises on and subject to the terms and provisions herein set forth. As used herein, the “Expansion Premises” means the entire rentable floor area of a new wing of the Building (“Expansion Wing”) to be constructed in a location adjacent to the existing west wing of the Building. The Expansion Premises is currently anticipated to contain approximately 130,000 square feet of rentable floor area and is preliminarily shown on the Site Plan attached hereto as Exhibit D-2 as “Proposed Office/Lab.” However, the parties acknowledge that neither the Expansion Wing nor the Expansion Premises have been permitted or fully designed as of the date hereof, and therefore the exact size and location of the Expansion Premises are not assigned known as of the Leasedate hereof and will be determined as more particularly set forth in this Article 18. For the avoidance of doubt, and notwithstanding anything herein to the contrary, Landlord acknowledges and agrees that, for the duration of the Original Lease Term, (i) the Expansion Wing shall only be constructed by Landlord if Tenant timely exercises it Expansion Option and the parties agree on the form of Expansion Amendment (as hereinafter defined), and (ii) not more than 50% of the Premises are then subject Landlord shall have no right to a sublease (whether the term of the sublease has commenced or is to be commenced thereafter), then Tenant shall lease the entirety of approximately 21,142 rentable square feet of space located on the third floor of expand the Building (collectively, "Expansion Space") upon the earlier to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date"), or (ii) the date on which other than the Expansion Space is substantially completed in accordance with subsection (AWing pursuant to this Article 18) below in the event Tenant provides written notice or to Landlord that Tenant has elected to take the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include construct a designation of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); new building on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all the terms and conditions of this Lease then in effect with respect to the initial Premises, provided all terms of the Lease based upon the rentable square feet of the Premises shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:Site.

Appears in 1 contract

Samples: Lease Agreement (Translate Bio, Inc.)

Expansion Premises. Provided 2.1 On August 1, 2009, Landlord shall deliver possession of the Expansion Premises and on August 1, 2009, the Original Premises shall be expanded to include the Expansion Premises (the “EP Commencement Date”). If for any reason Landlord cannot deliver possession of the Expansion Premises to Tenant by August 1, 2009, Landlord shall not be subject to any liability therefor, nor shall such failure affect the validity of this Amendment or the obligations of Tenant hereunder. Landlord and Tenant acknowledge that Landlord shall use best efforts to complete the Turn Key Tenant Improvements listed in Exhibit B-1 by the EP Commencement Date. Landlord shall complete such Turn Key Tenant Improvements within a reasonable period of time using reasonable efforts to minimize unreasonable interfere with Tenant’s use of the Premises in the construction thereof, including performing the work outside of normal business hours and completing the work within a two week period. 2.2 From and after the EP Commencement Date, the “Premises” shall mean and refer to the aggregate of the Original Premises and the addition of the Expansion Premises consisting of a combined total of approximately 50,913 rentable square feet located at 1195 and 0000 Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxx. Accordingly, from and after the EP Commencement Date, all references in this Amendment and in the Lease to the term “Premises” shall mean and refer to 1195 and 0000 Xxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxx. Landlord and Tenant hereby agree that for purposes of the Lease, from and after the EP Commencement Date, the rentable square footage of the Premises shall be conclusively deemed to be 50,913 rentable square feet. 2.3 Tenant acknowledges and agrees (i) Tenant has not assigned had an opportunity to become familiar with the Leasecondition of the Expansion Premises, (ii) Tenant shall accept the Expansion Premises in a good, vacant, and professionally clean condition, and (iiiii) Landlord shall not more than 50% be obligated to provide or pay for any improvement, remodeling or refurbishment work or services related to the improvement, Exhibit B attached hereto and made a part hereof; provided, however, Landlord shall repair at Landlord’s cost, after receipt of Tenant’s written notice thereof, which notice must be delivered to Landlord within the first one hundred eighty (180) days after Substantial Completion of the Turnkey Tenant Improvements (as defined in Exhibit B) and possession of the Expansion Premises have been tendered to Tenant any defects or deficiencies of the building systems, including without limitation, plumbing, electrical, and mechanical systems serving the Expansion Premises which are not in good working order and/or condition, to the extent Tenant or Tenant’s Work defined in Exhibit B (“Tenant’s Work”) has not caused such systems to not be in good working order and/or condition. If Tenant fails to timely deliver to Landlord any such written notice of the aforementioned defects or deficiencies within said 180-day period, Landlord shall have no obligation to perform any such work thereafter, except as otherwise specifically provided in this Amendment or the Lease. With respect to the Tenant Improvements, Landlord and Tenant shall conduct a walk through of the Premises are then within five (5) days after Substantial Completion (as defined in Exhibit B) of the Tenant Improvements and Tenant shall provide Landlord with a punch list of items needing repair or correction. Landlord shall correct such punch list items within fifteen (15) days from the day Landlord receives said punch list from Tenant. 2.4 Tenant further acknowledges and agrees that Landlord’s Turnkey Tenant Improvements shall be installed and constructed by Landlord in the Expansion Premises and Original Premises during the period of Tenant’s occupancy of the Expansion Premises; the completion of such Turnkey Tenant Improvements shall not affect Tenant’s obligation to pay rent or perform Tenant’s covenants and obligations under the Lease and this Amendment (subject to a sublease the terms of Section 2.1 above), and shall not affect the EP Commencement Date. Subject to the terms of Section 2.1 above, Tenant hereby expressly (whether the term i) agrees that Tenant shall have no right or claim to any abatement, offset or other deduction of the sublease has commenced amount of Rent payable by Tenant for the Premises due to the installation and construction of any of the Turnkey Tenant Improvements, (ii) grants Landlord access to any and all of the Premises to perform the Turnkey Tenant Improvements, (iii) so long as Landlord complies with Section 2.1, waives any rights or is claims Tenant may have at law or in equity with respect to be commenced thereafter)any interference with Tenant’s conduct of its operations in and about the Premises during the pendency of the work associated with the Turnkey Tenant Improvements, then (iv) agrees to use commercially reasonable efforts to not interfere, and to not allow any of Tenant’s Representatives to interfere, with Landlord and its contractors, representatives and consultants in the performance of the work associated with the completion of the Turnkey Tenant Improvements, and (v) agrees that Tenant’s employees, agents, contractors, consultants, workmen, mechanics, suppliers and invitees shall lease fully cooperate, work in harmony and not, in any manner, unreasonably interfere with Landlord or Landlord’s agents or representatives in performing any of the entirety of approximately 21,142 rentable square feet of space located on the third floor aforementioned work and any additional work related thereto, Landlord’s work in other areas of the Building (collectively, "Expansion Space") upon or the earlier to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date")Park, or (ii) the date on which general operation of the Expansion Space is substantially completed in accordance with subsection (A) below Building. Notwithstanding the forgoing or anything contained herein or the Lease to the contrary, in the event Landlord has not completed the Turnkey Tenant provides written notice to Landlord that Tenant has elected to take Improvements on the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space or before October 1, 2010, Tenant shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except entitled to Rent Abatement for the Base Rent and Additional Rententire Premises on a day for day basis until the Turnkey Tenant Improvements are Substantially Complete. In addition, if Landlord has still not Substantially Completed the Expansion Space Turnkey Tenant Improvements on or before December 31, 2010, Tenant shall be leased on entitled to terminate the Lease. Landlord has Tenant’s authorization to proceed with all the terms and conditions Tenant Improvement work including the Future Tenant Improvements upon full execution of this Lease then in effect with respect First Amendment to the initial Premises, provided all terms of the Lease based upon the rentable square feet of the Premises shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:Lease.

Appears in 1 contract

Samples: Lease Agreement

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Expansion Premises. Provided The area on the sixth (6th) floor of the Building consisting of approximately 3,432 rentable square feet, commonly known as Suite 675, and substantially as shown hatched on the plan annexed hereto as Schedule A (the “Expansion Premises”) is hereby added to, and shall be considered a part of the “Premises” (as such term is defined in the Existing Lease), for the period (the “Expansion Premises Term”) commencing on the date on which Landlord delivers the Expansion Premises to Tenant in broom clean condition and free of occupants, which date shall be not less than fifteen (15) days after execution of this Amendment (the “Expansion Premises Commencement Date”) and expiring on March 17, 2014 (the “Expansion Premises Expiration Date”); it being agreed that such date is the same as the New Expiration Date set forth in Section 3 of the Second Amendment referenced above. As of the Expansion Premises Term, all references in the Existing Lease to the “Premises” shall be deemed to refer to both the Existing Premises and the Expansion Premises. During the Expansion Premises Term, all references in the Existing Lease to (i) Tenant has not assigned the Lease” shall be deemed to refer to the Existing Lease, as amended by this Amendment, and (ii) not more than 50% of the Premises are then subject “Term” shall be deemed to a sublease (whether the term of the sublease has commenced or is refer to be commenced thereafter), then Tenant shall lease the entirety of approximately 21,142 rentable square feet of space located on the third floor of the Building (collectively, "Expansion Space") upon the earlier to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date"), or (ii) the date on which the Expansion Space is substantially completed in accordance with subsection (A) below in the event Tenant provides written notice to Landlord that Tenant has elected to take the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all the terms and conditions of this Lease then in effect Term with respect to the initial Premises, provided all terms of Expansion Premises only. Landlord and Tenant acknowledge that the Lease based upon the total rentable square feet of the Premises, including the Expansion Premises, from and after the Expansion Premises Commencement Date is 30,635 rentable square feet, and shall not be adjusted accordingly; (C) subject to re-measurement prior to the term Expansion Premises Expiration Date, except in the event of a change in industry standards for the Expansion Space shall be measurement of rental square footage in a multi-tenanted office building, in which case the remaining Term amount of this Rent due and payable under the Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 on a per rentable square foot for any office space basis shall be equitably adjusted so that in no event shall Tenant’s obligations with respect to Base Rent, Operating Expenses and Real Estate Taxes change. As more particularly set forth in Section 6(a) of the Second Amendment, from and after the Expansion Premises Commencement Date, the Must Take Premises (as defined in the Expansion Space, plus (ySecond Amendment) $6.00 per is reduced by the rentable square foot for any warehouse/production space in footage of the Expansion Space; for Premises (i.e., the period until the end minimum rentable area of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:Premises is reduced from 6,500 rentable square feet to 3,068 rentable square feet).

Appears in 1 contract

Samples: Lease Agreement (Cvent Inc)

Expansion Premises. Provided Sublandlord grants to Subtenant a first right of negotiation with respect to the "RMA Area" shown on EXHIBIT A and containing approximately 3,700 rentable square feet (the "Expansion Premises"). In the event that (i) Tenant has not assigned Sublandlord determines, in its sole discretion, that it no longer requires such area for its operations, Sublandlord shall give Subtenant written notice offering to sublease the Lease, Expansion Premises to Subtenant and (ii) not more than 50% of specifying the Premises are then subject to a economic and other terms on which such sublease (whether the term of the sublease has commenced or is to be commenced thereafter)made. Subtenant shall have five business days after receipt of Sublandlord's notice to notify Sublandlord of its interest in subleasing such space. If Subtenant timely notifies Sublandlord of its desire to sublease the Expansion Premises, Sublandlord and Subtenant shall negotiate in good faith the terms of such sublease which shall be the terms set forth in Sublandlord's notice offering the Expansion Premises to Subtenant (subject to further negotiation) and otherwise the terms of this Sublease. If, within 30 days after Sublandlord's notice offering the Expansion Premises to Subtenant, the parties reach agreement on the terms by which Subtenant shall sublease the Expansion Premises, then Tenant Sublandlord and Subtenant shall lease execute an amendment to this Sublease evidencing such agreement. If, however, the entirety parties fail to reach agreement within such 30 day period, then this first right of approximately 21,142 rentable square feet of space located on negotiation shall terminate and Sublandlord shall be free to re-occupy or sublease the third floor of the Building (collectively, "Expansion Space") upon the earlier to occur of (i) two (2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date")on any terms it may desire. This first right of negotiation is personal to Subtenant and may not be transferred to any person or entity, whether voluntarily or (ii) by operation of law, without Sublandlord's prior written consent. Sublandlord may grant or deny its consent to any such transfer in its sole discretion. This first right of negotiation shall be void if Subtenant is in default under this Sublease at any time during or after the 30 day negotiation period and prior to the date on which the Expansion Space Premises is substantially completed in accordance with subsection (A) below in the event Tenant provides written notice to Landlord that Tenant has elected to take the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation of the portions of the Expansion Space to be used as office area and incorporated into the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all the terms and conditions of this Lease then in effect with respect to the initial Subleased Premises, provided all terms of the Lease based upon the rentable square feet of the Premises shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:.

Appears in 1 contract

Samples: Sublease Agreement (Mylex Corp)

Expansion Premises. Provided that a. Landlord hereby demises and leases to Tenant and Tenant hereby leases and accepts from Landlord, for a term and upon the conditions hereinafter provided, Seventy-eight Thousand Two Hundred Fifty-two (i78,252) Tenant has not assigned the Lease, and (ii) not more than 50% of the Premises are then subject to a sublease (whether the term of the sublease has commenced or is to be commenced thereafter), then Tenant shall lease the entirety of approximately 21,142 rentable square feet of space located in the east tower of the Building, known as 0000 Xxxxxx Xxxx Xxxx, outlined on the floor plans attached hereto and incorporated herein by reference as Exhibits X-0, X-0 and A-3 (the "Expansion Premises"), consisting of the entire second (2nd) floor (the Second Floor Premises), the entire third (3rd) floor (the Third Floor Premises) and the entire seventh (7th) floor (the Seventh Floor Premises). All provisions of the Lease which apply to the Premises shall apply to the Expansion Premises; provided, however, that Tenant's obligations with respect to each floor of the Building Expansion Premises (collectively, "Expansion Space"except as otherwise specifically provided herein) upon shall not commence until such floor has been delivered to Tenant Substantially Completed (or the earlier date on which rental hereunder commences as to occur such floor). b. Tenant shall take possession of the Expansion Premises as follows: (i) two Upon Substantial Completion (2as defined in the Lease) years following of the Term Commencement Date (the "Outside Expansion Premises Commencement Date")Third Floor Premises, which is anticipated to occur on or about June 1, 1999; (ii) the date on which the Expansion Space is substantially completed in accordance with subsection (A) below in the event Tenant provides written notice to Landlord that Tenant has elected to take the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation Upon Substantial completion of the portions Second Floor Premises, but not earlier than September 1, 1999; and (iii) Upon Substantial Completion of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all the terms and conditions of this Lease then in effect with respect to the initial Seventh Floor Premises, provided all terms of the Lease based upon the rentable square feet of the Premises shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); and (D) the Expansion Space shall be leased at an initial annual Base Rent equal which is anticipated to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Spaceoccur on or about March 1, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:2000.

Appears in 1 contract

Samples: Lease Amendment (Averstar Inc)

Expansion Premises. Provided On the conditions (which conditions Landlord may waive, at its election, by written notice to Tenant at any time) that both at the time that Tenant exercises its expansion option under this Section 18.1 and as of the date upon which the Expansion Premises would have otherwise become incorporated into the Premises: (i) Tenant has not assigned the Lease, there exists no Event of Default and (ii) not there have been no more than 50% of the Premises are then subject to a sublease (whether the term of the sublease has commenced or is to be commenced thereafter), then Tenant shall lease the entirety of approximately 21,142 rentable square feet of space located on the third floor of the Building (collectively, "Expansion Space") upon the earlier to occur of (i) two (2) years following Event of Defaults during the Term Commencement Date (the "Outside Expansion Premises Commencement Date")Term, or (ii) the date on which the Expansion Space this Lease is substantially completed still in accordance with subsection full force and effect, (Aiii) below in the event Tenant provides written notice to Landlord that Tenant has elected to take the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all the terms and conditions of neither assigned this Lease then in effect with respect to nor sublet more than the initial Premises, provided all terms lesser of the Lease based upon the rentable (y) 50,000 square feet of the Rentable Floor Area of the Primary Premises, and (z) fifty percent (50%) of the Rentable Floor Area of the Primary Premises shall be adjusted accordingly; (Cexcept for an assignment or subletting permitted without Landlord’s consent under Section 12.5 hereof), and (iv) the term for Landlord obtains all necessary building and other permits and governmental approvals required to construct the Expansion Space Premises and the Structured Parking Deck (as hereinafter defined), Tenant shall be have the remaining Term of this Lease (including the Extension Period(s)); and (D) option to lease the Expansion Space shall Premises. Landlord represents that, subject to obtaining all necessary construction and related permits and approvals from the City of Waltham and any other governmental authorities having jurisdiction over the Property, the Building may be leased at an initial annual Base Rent equal expanded by up to the total of (x) $8.00 per 15,000 rentable square foot for any feet under current Legal Requirements in effect as of the Execution Date by converting the covered parking area beneath the Building to interior office space in the Expansion SpaceBuilding. In addition, plus pursuant to that certain Certificate of Notice of Project Change dated January 6, 2015 (ythe “NPC Certificate”) $6.00 per rentable square foot for any warehouse/production space in issued by the Expansion Space; for the period until the end Executive Office of Energy and Environmental Affairs, an expansion of the fifth Lease YearProperty to include an additional 25,000 square feet (which 25,000 square feet is inclusive of and not in addition to the 15,000 square feet permitted as of right under current Legal Requirements) will not require any additional review or approval by the Massachusetts Environmental Protection Agency. The Base Rent for During the Expansion Space shall be increased thereafter as follows:Term, neither Landlord nor Overlandlord will take any action to change the zoning or other Legal Requirements affecting the Property that would undermine the NPC Certificate or Tenant’s express expansion right under this Article XVIII.

Appears in 1 contract

Samples: Lease Agreement (Markforged Holding Corp)

Expansion Premises. Provided that (a) Landlord and Tenant hereby agree to add the Expansion Premises to the Premises in two (2) stages, with (i) Tenant has not assigned the Leasefirst stage consisting of the addition to the Premises, as of the First Expansion Commencement Date (as hereinafter defined), of that portion of the Expansion Premises consisting of approximately fourteen thousand nine hundred seventy-three (14,973) rentable square feet shown on First Amendment Exhibit A attached hereto ("Expansion Premises A"), and (ii) not more than 50% the second stage consisting of the Premises are then subject addition to a sublease (whether the term Premises, as of the sublease has commenced or is to be commenced thereafterSecond Expansion Commencement Date (as hereinafter defined), then Tenant shall lease of that portion of the entirety Expansion Premises consisting of approximately 21,142 fourteen thousand nine hundred seventy-three (14,973) rentable square feet of space located shown on the third floor of the Building First Amendment Exhibit B attached hereto (collectively, "Expansion Space") upon the earlier to occur of (i) two (Premises !2) years following the Term Commencement Date (the "Outside Expansion Premises Commencement Date"). Landlord hereby leases to Tenant, or (ii) the date on which the Expansion Space is substantially completed in accordance with subsection (A) below in the event and Tenant provides written notice to Landlord that Tenant has elected to take hereby rents from Landlord, the Expansion Premises prior to the Outside Expansion Premises Commencement Date (which notice shall include a designation of the portions of the Expansion Space to be used as office area and the portion to be used as warehouse/production space); on the terms and conditions as follows: (A) the Expansion Space shall be leased in the condition set forth in Exhibit B under the heading: "Expansion Space"; (B) except for the Base Rent and Additional Rent, the Expansion Space shall be leased on all upon the terms and conditions of this Lease then in effect with respect First Amendment. (b) As of the First Expansion Commencement Date, the entire Premises shall consist of approximately seventy-six thousand eight hundred sixty (76,860) rentable s~uare feet comprising the entire third (3rd) and fourth (4th) floors and a portion of the second (2n ) floor of the Building. On the First Expansion Commencement Date, Expansion Premises A shall become part of the Premises and, except as otherwise provided below, shall be subject to all of the initial Premises, provided all terms and conditions of the Lease based upon for the remainder of the Term. (c) As of the Second Expansion Commencement Date, the entire Premises shall consist of approximately ninety-one thousand eight hundred thi~-three (91,833) rentable square feet consisting of the entire second (2nd), third (3rd) and fourth (41) floors of the Building. On the Second Expansion Commencement Date, Expansion Premises B shall become part of the Premises and, except as otherwise provided below, shall be subject to all of the terms and conditions of the Lease for the remainder of the Term. (d) Notwithstanding anything to the contrary contained in the Lease, including but not limited to Section 1, neither Expansion Premises A nor Expansion Premises B shall be subject to remeasurement and the rentable square feet of the Premises footage thereof as recited in Section 2(a) hereof shall be adjusted accordingly; (C) the term for the Expansion Space shall be the remaining Term of this Lease (including the Extension Period(s)); final, conclusive and (D) the Expansion Space shall be leased at an initial annual Base Rent equal to the total of (x) $8.00 per rentable square foot for any office space in the Expansion Space, plus (y) $6.00 per rentable square foot for any warehouse/production space in the Expansion Space; for the period until the end of the fifth Lease Year. The Base Rent for the Expansion Space shall be increased thereafter as follows:controlling.

Appears in 1 contract

Samples: Lease Agreement (OMNICELL, Inc)

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