Common use of Expansion Space Clause in Contracts

Expansion Space. Section 1.01 of the Lease is amended to provide as follows: (a) Effective on the later of (i) August 1, 2007, or (ii) the date that the existing lessee vacates the “Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Commencement Date”), the term “Demised Premises” shall include the approximately 5,672 square feet of rentable space on the 6th floor of the Building more particularly shown on Exhibit A-1 attached hereto and made a part hereof (the “Expansion Space”). Notwithstanding the foregoing, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion Commencement Date and continuing through December 31, 2007, the Base Rent for the Expansion Space is based on 1,746 rentable square feet at an annual rate of $33.00 per square foot, and such calculation is reflected in the Base Rent set forth in Section 2.01 below. (b) Lessee acknowledges that the availability of the Expansion Space is conditioned upon of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required to do pursuant to the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1, 2007. In the event that the Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of (i) the Expansion Commencement Date, or (ii) the termination of the Lease, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant to Section 2.01 for the Expansion Space shall be abated. The foregoing right to share in amounts collected from the Prior Tenant, right to terminate, and right to abatement of Base Rent for the Expansion Space shall be Lessee’s sole remedies in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of Lease. (c) Exhibit A to the Lease is hereby amended to include Exhibit A-1 showing the Expansion Space.

Appears in 1 contract

Samples: Sublease (Radius Health, Inc.)

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Expansion Space. Section 1.01 of the Lease is amended to provide Tenant shall have two (2) “Expansion Space Options”, as follows: (ai) Effective Tenant shall have a one-time option to lease from Landlord certain space on the later eighth (8th) floor of the Building (i“Expansion Space #1”), comprising not less than five thousand (5,000) August rentable square feet and not more than seven thousand five hundred (7,500) rentable square feet, at a location contiguous to the Initial Eighth Floor Space (except as provided below), as such Expansion Space #1 is reasonably designated by Landlord, which space (A) shall have a demising wall which connects the corridor wall in the Common Areas of the floor on which Expansion Space #1 is located to a mullion in a straight line, except for a deviation of not to exceed ten feet (10’) and (B) shall result in the remainder of the space located on the floor on which Expansion Space #1 is located and which is not then leased by Tenant being in marketable condition; provided, however, that in the event that Tenant does not lease all or any portion of the Initial Eighth Floor Space and Tenant does not lease all space on the Seventh (7th) floor of the Building, then Expansion Space #1 shall be all space on the seventh (7th) floor of the Building which is not leased by Tenant (even if such Expansion Space #1 is less than five thousand (5,000) rentable square feet) or, if at such time no rentable square footage is available for Expansion Space #1 on the seventh (7th) floor of the Building, then Landlord shall reasonably designate space on the eighth (8th) floor of the Building as Expansion Space #1 in accordance with the foregoing criteria. Expansion Space #1, 2007if and when so leased by Tenant, or shall become part of the Premises and shall be subject to the terms and conditions of this Lease, except as set forth in this Section 41; and (ii) Tenant shall have a one-time option to lease from Landlord certain space on the date that eighth (8th) floor of the existing lessee vacates the Building (“Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Commencement DateSpace #2”), comprising not less than five thousand (5,000) rentable square feet and not more than seven thousand five hundred (7,500) rentable square feet on the term “Demised Premises” eighth (8th) floor of the Building, which Expansion Space #2 shall include be contiguous (except as provided below) to Tenant’s portion of the approximately 5,672 Premises then located on the eighth (8th) floor of the Building, which Expansion Space #2 shall be in a location reasonably designated by Landlord, which space (A) shall have a demising wall which connects the corridor wall in the Common Areas of the floor on which Expansion Space #2 is located to a mullion in a straight line, except for a deviation of not to exceed ten feet (10’), and (B) shall result in the remainder of the space located on the floor on which Expansion Space #2 is located and which is not then leased by Tenant being in marketable condition; provided, however, that in the event that Tenant does not lease all or any portion of the Initial Eighth Floor Space, then Expansion Space #2 shall be all space on the seventh (7th) floor of the Building which is not leased by Tenant (even if such Expansion Space #2 is less than five thousand (5,000) rentable square feet), or, if at such time no rentable square footage is available for Expansion Space #2 on the seventh (7th) floor of the Building, then Landlord shall reasonably designate space on the eighth (8th) floor of the Building as Expansion Space #2 in accordance with the foregoing criteria. Notwithstanding the foregoing, in the event that Tenant exercises its option to lease both Expansion Space #1 and Expansion Space #2, Tenant acknowledges that the aggregate number of square feet of rentable space in Expansion Space #1 and Expansion Space #2 shall not exceed the number of square feet of rentable space on the 6th eighth (8th) floor of the Building more particularly shown on Exhibit A-1 attached hereto and made a part hereof (the “Expansion Space”). Notwithstanding the foregoing, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion Commencement Date and continuing through December 31, 2007, the Base Rent for the Expansion Space which is based on 1,746 rentable square feet at an annual rate of $33.00 per square foot, and such calculation is reflected in the Base Rent set forth in Section 2.01 below. (b) Lessee acknowledges that the availability of the Expansion Space is conditioned upon of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required not then already leased to do Tenant pursuant to the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1, 2007. In the event that the Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of (i) the Expansion Commencement Date, or (ii) the termination of the Lease, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant to Section 2.01 for the Expansion Space shall be abated. The foregoing right to share in amounts collected from the Prior Tenant, right to terminate, and right to abatement of Base Rent for the Expansion Space shall be Lessee’s sole remedies in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of this Lease. (c) Exhibit A to the Lease is hereby amended to include Exhibit A-1 showing the Expansion Space.

Appears in 1 contract

Samples: Deed of Lease (Watson Wyatt & Co Holdings)

Expansion Space. Section 1.01 After the execution date ("EXECUTION DATE") of this Lease as stated on the Lease signature page of this Lease, on any office rentable area in the Building which is amended not leased to provide as followsTenant, and which at Landlord's discretion becomes available to offer for re-leasing to prospective tenants in the marketplace, ("EXPANSION SPACE") within the first forty-eight months after the Execution Date, Landlord shall first offer such Expansion Space to Tenant on the following terms and conditions: (a) Effective on the later of (i) August 1, 2007, or (ii) the date that the existing lessee vacates the “Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Commencement Date”), the term “Demised Premises” shall include the approximately 5,672 square feet of rentable space on the 6th floor of the Building more particularly shown on Exhibit A-1 attached hereto and made a part hereof (the “Expansion Space”). Notwithstanding the foregoing, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion Commencement Date and continuing through December 31, 2007, the Base Rent for the Expansion Space is based on 1,746 rentable square feet at an annual rate of $33.00 per square foot, and such calculation is reflected in the Base Rent set forth in Section 2.01 below. (b) Lessee acknowledges that the availability of the Expansion Space is conditioned upon of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required to do pursuant to the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1, 2007. In the event that the Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of (i) the Expansion Commencement Date, or (ii) the termination of the Lease, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, in the event that the Expansion Space is available as defined herein, Landlord shall make with written notice to Tenant up to four (4) first offers with no more than five thousand (5,000) rentable office square feet per offer for each consecutive twelve (12) month period after the Execution Date, or up to a total of twenty thousand (20,000) square feet of Expansion Space over a total of four (4) consecutive twelve month periods; (b) the first twelve month period shall commence on the first day after the Execution Date and end three hundred and sixty-five (365) days after the Execution Date, and each successive twelve month period shall commence on the first day following the last day of the immediately previous twelve month period; (c) in the event that such Expansion Space is not available in any twelve period, then Landlord shall have absolutely no obligation to make such offer to lease any Expansion Space to Tenant; and such offer for the related twelve month period in which the offer was made shall automatically expire; (d) in the event that Tenant accepts a first offer from the Landlord to lease Expansion Space, then Tenant at Landlord's request with written notice to Tenant shall properly and promptly execute and deliver within five (5) business days after Landlord has provided such notice a new lease form and/or Basic Lease Information and Commencement Date does not occur by August 1Memorandum for Expansion Space; (e) such new lease form, 2007Basic Lease Information, then and Commencement Date Memorandum for Expansion Space shall be the same as and contain all the same provisions of this Lease (Tenant's Lease for the period from 3,360 rsf in the Building) except that it shall exclude only Sections 37. and after August 1, 2007 until 38. of this Lease except for those specific terms of Section 37. which are included or required to fully and accurately complete the Basic Lease Information and Commencement Date Memorandum for the Expansion Space in the new lease related to the each separate offer which has been accepted by Tenant, inclusive of the Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant to Section 2.01 for the Expansion Space shall be abated. The foregoing right the second day after Tenant has given written notice of its acceptance of Landlord's offer; (f) Landlord's offers accepted by Tenant which result in total Expansion Space of up to share in amounts collected from the Prior Tenantfirst ten thousand (10,000) square feet leased to Tenant shall have an Expiration Date of December 31, right to terminate2003, and right Landlord's offers accepted by Tenant which shall result in Expansion Space of up to abatement the second or next ten thousand (10,000) square feet shall have an Expiration Date of December 31, 2004.; (g) The additional Base Rent for the first twelve (12) months on the Expansion Space for each offer accepted by Tenant as provided above shall be the Rental Rate which is in effect under the Lease (Tenant's Lease for 3,360 rentable square feet in the Building) at the time Tenant accepts, as provided herein, the Landlord's offer to lease the Expansion Space, and then the Rental Rate for the Expansion Space on such accepted offer shall be increased by $0.10 per rsf/month for the next twelve months and after every 12 months during the lease term of the Expansion Space; (h) Upon Tenant's acceptance of each offer, it shall deposit with Landlord a Security Deposit equal to the sum of the last month's rent under the lease term for the related Expansion Space; (i) In the event Tenant declines to accept a Landlord's first offer during a twelve month period to lease Expansion Space to Tenant, Tenant shall have no rights to lease such Expansion Space and Landlord shall have no obligation to make a second offer to lease the same Expansion Space to Tenant. However, Landlord may, in its sole discretion, make a second offer to lease the same Expansion Space as specified in the first offer to Tenant under the same terms and conditions as provided in the first offer and as provided in SECTION 37. of this Lease, and in the event that Tenant accepts such second offer, then the same terms and conditions of this SECTION 37. which are applicable to the first offer shall also be entirely applicable to such second offer. (j) Within fifteen (15) calendar days during any twelve month period after Landlord has given notice to Tenant of Landlord's offer to lease the Expansion Space to Tenant, Tenant shall give written notice to Landlord that it will has either accept or decline such offer. In the event that Tenant fails to give such written notice to Landlord, such offer shall automatically expire at the end of the above fifteen (15) calendar day period. Upon Tenant's declination of such offer or upon the automatic expiration of such offer, such offer shall forever expire with Tenant having no right to lease such Expansion Space made under the related offer. (k) The Commencement Date for each Expansion Space shall be Lessee’s sole remedies two (2) days after Tenant has given written notice to Landlord of Tenant's acceptance of Landlord's offer to lease Expansion Space to Tenant. (l) Provided Tenant's "Report on Audited Consolidated Financial Statements" (prepared by its accountant, Coopers & Xxxxxxx, LLP, or comparable firm) for the fiscal year ending on same calendar year of Tenant's acceptance of a first offer, or in the event Lessor there is a change from a fiscal year to a calendar year for such report, then such report for the calendar year immediately prior to the calendar year of Tenant's acceptance of a first offer shall show at least Ten Million Dollars ($10,000,000) in income from operations before provision for income taxes (Landlord at its sole discretion may waive this condition). (m) Provided Tenant is not in default under any lease between Landlord and Tenant, or there exists no set of facts or circumstances which subject to the giving of notice, would constitute an Event of Default by Tenant under any lease between Landlord and Tenant. (For example, during the first 12 month period after the Execution Date if Landlord makes in writing a first offer on, say, May 1, 1999 to lease Expansion Space of 3,500 rentable square feet to Tenant and Tenant accepts in writing such offer on, say, May 12, 1999, the lease for such Expansion Space shall include the following terms: Expiration Date shall be unable to deliver December 31, 2003; Commencement Date shall be May 14, 1999; Base Rent shall be $2.90/rsf*/month in first 12 months, $3.00/rsf/month in second 12 months, $3.10/rsf/month in the third 12 months, and $0.10/rsf/month increase after every 12 months during the lease term for the 3,500 square foot Expansion Space. Lessor During the second 12 month twelve month period after the Execution Date, if Landlord makes in writing a second offer on, say, April 17, 2000 to lease Expansion Space of 5,000 rentable square feet to Tenant and Lessee agree to execute a document identifying Tenant accepts in writing such second offer on, say, April 20, 2000, the exact lease for such Expansion Space shall include the following terms: Expiration Date shall be December 31, 2003; Commencement Date which shall be recordable if required under any Notice of Lease. (c) Exhibit A to April 22, 2000; Base Rent shall be $3.00/rsf*/month in the Lease is hereby amended to include Exhibit A-1 showing first 12 months, $3.10/rsf/month in the second 12 months, $3.20/rsf/month in the third 12 months, and $0.10/rsf/month increase after every 12 months during the lease term for 5,000 square foot Expansion Space. During the third 12 month period after the Execution Date, if Landlord makes no third first offer to lease Expansion Space to Tenant as no Expansion Space is available, then Landlord shall have no be obligation to make such third offer in the future and there shall be only one first offer remaining for the Landlord to offer Expansion Space to Tenant.) *rentable square feet as defined in the Lease, beginning Rental Rate based on Rental Rate in effect at such time on Tenant's Lease for 3,360 rentable square feet in the Building.

Appears in 1 contract

Samples: Lease Agreement (Shrena Software Inc)

Expansion Space. Section 1.01 If, at any time prior to the fourteenth (14th) anniversary of the Lease is amended to provide as follows: (a) Effective on the later of (i) August 1, 2007, or (ii) the date that the existing lessee vacates the “Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Commencement Date”), the term “Demised Premises” Landlord shall include the approximately 5,672 square feet of rentable desire to lease any space on the 6th fifteenth (15th) floor of the Building comprising 5,000 rentable square feet or more particularly shown on Exhibit A-1 attached hereto and made a part hereof (each such specific space being hereinafter referred to as the "Expansion Space") to a third party other than the existing tenant in any such space (each an "Interested Party"). Notwithstanding the foregoing, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion Commencement Date and continuing through December 31, 2007, the Base Rent for Landlord shall offer the Expansion Space to Tenant by written notice (ALandlord's Notice@) before offering the same to any party other than an Interested Party, which notice shall set forth the terms and conditions upon which Landlord is based on 1,746 rentable square feet willing to lease such Expansion Space. Provided and upon the condition that at an annual rate all times this Lease shall be in full force and effect and Tenant shall not be in default hereunder (and no condition exists which with notice and/or the passage of $33.00 per square foottime would constitute a default), this Lease shall not have been assigned and Tenant shall personally be in use and occupancy of, and not subleasing, the entire Premises, then only on the first occasion on which the Expansion Space becomes available for leasing, Tenant shall have the right, exercisable by notice to Landlord within ten (10) days of the date of Landlord's Notice, the time being of the essence, to lease the Expansion Space specified in Landlord's Notice upon the terms and conditions contained therein, in which event Landlord and Tenant shall enter into an amendment of this Lease reasonably acceptable to Landlord to provide for (i) the inclusion of such calculation is reflected Expansion Space in the Premises, (ii) an increase in the Rent by an amount as determined in accordance with subsection B below), (iii) a modification of the definition of (a) Tenant's Proportionate Share to accurately represent the percentage that the rentable area of the Premises, together with rentable area of such portion of the Expansion Space, bears to the total rentable area of the Building and (b) the Security Deposit to increase the same in the same proportion that the existing Security Deposit bears to the Premises then demised hereunder and (iv) an abatement in the Base Rent set forth payable for the Expansion Space, determined on the basis of a twelve (12) month abatement period reduced proportionally in Section 2.01 below. (b) Lessee acknowledges relation to the number of years that the availability of term that the Expansion Space is conditioned upon of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required will be leased to do pursuant Tenant bears to the initial Term hereof. In all other respects, the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1and conditions contained in this Lease (including rent adjustments, 2007escalations and base years) shall remain unmodified. In the event that Tenant fails to exercise its right as aforesaid within ten (10) days of the date of Landlord's Notice, Tenant shall be deemed to have waived its rights under this Article with respect to the Expansion Commencement Date has not occurred by September 1Space described in Landlord's Notice, 2007, then from September 1, 2007 until Landlord shall have the earlier of (i) absolute right to lease the Expansion Commencement Date, Space specified in Landlord's Notice to any other person or (ii) the termination of the Lease, Lessee entity and Tenant shall be entitled have no further rights with respect to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenantspace. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee Tenant shall have exercised its right as aforesaid but Landlord and Tenant fail to mutually execute an amendment of this Lease as aforesaid within thirty (30) days from the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions date of Section 2.01Landlord's Notice, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant to Section 2.01 for the Expansion Space shall be abated. The foregoing right deemed to share be included within the Premises without such written amendment upon the terms, conditions and provisions contained in amounts collected from the Prior Tenantthis Lease, right to terminate, and right to abatement of Base Rent for the Expansion Space shall be Lessee’s sole remedies except as otherwise set forth in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of LeaseLandlord's Notice. (c) Exhibit A to the Lease is hereby amended to include Exhibit A-1 showing the Expansion Space.

Appears in 1 contract

Samples: Lease Agreement (Lazare Kaplan International Inc)

Expansion Space. Section 1.01 of the Lease is amended to provide as follows: (a) Effective Landlord shall deliver to Tenant exclusive, vacant possession of the Expansion Space structurally sound, cleaned and, except for the Landlord FF&E (as defined below), free of debris, furniture, and equipment (unless otherwise agreed to by Tenant), with all fire protection, sprinkler, fire alarm water, sewer, restrooms, mechanical, electrical, plumbing, elevator and elevator systems and controls, and HVAC for the Building (excluding any supplemental AC units dedicated for a specific area in the Building) in good operating condition, with the roof water-tight, with all existing interior or exterior tenant signage removed and all damage caused by the installation and/or removal repaired and with all decommission obligations set forth in Section 2(b) below completed, on February 1, 2024 (the “Required Delivery Date”); provided, that, (i) in the event any of the foregoing is not in good operating condition as of the Required Delivery Date (each, a “Defect”), unless Landlord has scheduled to correct such Defect within thirty (30) days as of the Required Delivery Date, during the first six (6) months after the Expansion Space Commencement Date (as defined below), Tenant shall promptly notify Landlord in writing of such Defect after Tenant becomes aware of such Defect, with documentation reasonably demonstrating such Defect exists as of the Required Delivery Date and was not caused or exacerbated by Tenant in connection with its Expansion Space Tenant Improvements or otherwise, and (ii) in no event shall Landlord be responsible for any Defects caused or exacerbated by Tenant in connection with its Expansion Space Tenant Improvements or otherwise. In addition to the Existing Premises, effective as of the later of (i) August 1the date Landlord delivers possession of the Expansion Space to Tenant in the required condition, 2007, or and (ii) the date that the existing lessee vacates February 1, 2024 (such later date, the “Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Space Commencement Date”), and continuing for the term duration of the Lease Term, Landlord shall lease to Tenant, and Tenant shall lease from Landlord, the Expansion Space upon all of the terms of the Lease (as amended hereby). Effective on the Expansion Space Commencement Date, unless the context clearly indicates otherwise, (i) all references to the Demised Premises” contained in the Lease shall mean and refer to the entirety of the space in the Expanded Premises, which is approximately 120,200 rentable square feet, (ii) all references to the “Buildings” and “Property” contained in the Lease shall mean and refer to all three (3) buildings of the Expanded Buildings, (iii) all references to the “Building” contained in the Lease shall include, as applicable, the 5303 Building, and (iv) all references to the “Rent” contained in the Lease shall include without limitation the Base Rent and Additional Rent for the Expansion Space. Landlord and Tenant hereby acknowledge and agree that the stated amounts of the rentable square footages of the Expanded Premises are not representations or warranties of the exact number of rentable square feet therein but rather are only reasonable approximations that shall be conclusive and binding as between the parties. Once the Expansion Space Commencement Date is fixed, within ten (10) days following request by Landlord, Tenant shall execute and deliver to Landlord a certificate substantially in the form of Exhibit D to the Lease. Tenant shall have early access to the Expansion Space prior to the Expansion Space Commencement Date for the purpose of space planning and programming, which access shall be subject to the rights of any existing tenants or subtenants in the Expansion Space (including any requirements for notice and compliance with reasonable security and access protocols), and, if all existing tenants or subtenants have vacated the Expansion Space prior to the Expansion Space Commencement Date, such early access shall include the approximately 5,672 square feet of rentable space on right to perform the 6th floor Expansion Space Tenant Improvements. Any such early access shall be subject to all of the Building more particularly shown on Exhibit A-1 attached hereto terms and made a part hereof (conditions of the “Expansion Space”)Lease except for the obligations to pay rent. Notwithstanding the foregoing, Lessor Landlord shall not be required to remove any Landlord-owned furniture and Lessee equipment that may be located in the Expansion Space (the “Landlord FF&E”) and such Landlord FF&E shall be deemed to be conveyed to Tenant as of the Expansion Space Commencement Date in its then “AS-IS” condition. (b) No later than the Required Delivery Date, Landlord shall cause any existing tenant, subtenant or other occupant of the Expansion Space (collectively, the “Existing Occupants”) to surrender the Expansion Space to Landlord free of Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from, the Expansion Premises or any Common Areas by any Existing Occupants or their respective agents, employees, contractors, subtenants or licensees (collectively, “Existing HazMat Operations”) and released of any license, clearance or other authorization of any kind required to enter into and restore the Expansion Premises issued by any federal, state, regional, municipal, local or other governmental authority or agency, including, without limitation, quasi-public agencies (collectively, “Governmental Authority”) having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (collectively referred to herein as “Hazardous Materials Clearances”) in the Expansion Space. (c) Notwithstanding anything to the contrary herein or in the Lease, (i) if Landlord fails to deliver possession of the Expansion Space to Tenant in the required condition by the Required Delivery Date, then, in addition to Tenant’s other rights and remedies, the Expansion Abatement Period shall be extended by one (1) day for each acknowledge day thereafter until the Expansion Space is delivered to Tenant in the required condition under Section 2(a) above, and (ii) if Tenant elects to remove the Landlord FF&E, then, the Expansion Abatement Period (as defined below) shall be extended by fifteen (15) days. (d) Tenant shall have the right, within nine (90) days after completion of the Expansion Space Tenant Improvements, to re-measure the Expansion Space in accordance with the BOMA Z65.1-2017 standards (the “BOMA Standard”) to determine the actual rentable square footage of the Expansion Space. In the event the re-measurement discloses that the actual rentable square footage of the Expansion Space as set forth above (i.e., 35,000 rentable square feet) is incorrect, Tenant shall provide Landlord with an architect’s certification of the actual rentable square footage of the Expansion Space for Landlord’s reasonable approval. In the event of any dispute by Landlord in connection with such measurement, Landlord may have its own architect measure the Expansion Space using the BOMA Standard and shall deliver such measurement to Tenant for Tenant’s reasonable approval. If the parties cannot agree that for the period commencing on a measurement, they shall agree on the appointment of a third independent architect, whose measurement shall be binding on the parties. The parties shall each pay for their own architect and split the fees of the third independent architect, if any. Upon final determination of the size of the Expansion Commencement Date Space pursuant to the foregoing, Landlord and continuing through December 31, 2007, Tenant hereby agree to be bound by the actual leasable square feet of Expansion Space as determined by such re-measurement and shall execute an amendment to the Lease (i) reflecting the actual rentable square footage of the Expansion Space and (ii) adjusting the Base Rent for the Expansion Space is based on 1,746 the new rentable square feet at an annual rate of $33.00 per square foot, and such calculation is reflected in the Base Rent set forth in Section 2.01 below. (b) Lessee acknowledges that the availability footage of the Expansion Space is conditioned upon of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required to do pursuant to the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1, 2007Space. In the event that the Expansion Commencement Date has not occurred by September 1of an adjustment, 2007, then from September 1, 2007 until the earlier Tenant will pay any excess Base Rent owed to Landlord within thirty (30) days after receipt of (i) the Expansion Commencement Datea statement, or (ii) Tenant shall take a credit for any overpayment against the termination of next Base Rent due under the Lease, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant to Section 2.01 for the Expansion Space shall be abated. The foregoing right to share in amounts collected from the Prior Tenant, right to terminate, and right to abatement of Base Rent for the Expansion Space shall be Lessee’s sole remedies in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of Lease. (c) Exhibit A to the Lease is hereby amended to include Exhibit A-1 showing the Expansion Space.

Appears in 1 contract

Samples: Office Lease (Shockwave Medical, Inc.)

Expansion Space. Section 1.01 of the Lease is amended to provide as follows: (a) Effective Provided that on the later of date Tenant exercises the Expansion Option and on the ES Inclusion Date (i) August 1this Lease shall not have been terminated, 2007, or (ii) Tenant shall not be in default in the date that payment of any Rent and no other Event of Default shall have occurred and be continuing, (iii) this Lease shall not have been assigned (except as permitted under Section 5.01(b) and Section 5.01(c)) or the existing lessee vacates Premises sublet, in whole or in part, and the named Tenant herein (i.e., Txxxxx Wxxxxx Partners Group LLC, the “Named Tenant”) or any Affiliate of the Named Tenant to which this Lease may have been assigned pursuant to Section 5.01(c) or any successor entity to the Named Tenant described in Section 5.01(b) (such Affiliate or successor entity, each, a “Named Tenant Permitted Assignee”) has not, directly or indirectly, parted with possession of all or any part of the Premises (other than to any Desk Space User in accordance with Section 5.01(d) below), Tenant shall have the option (the “Expansion Space” (as such term is hereinafter definedOption”) (such later date of (i) or (ii) being to lease the “Expansion Commencement Date”), the term “Demised Premises” shall include the approximately 5,672 square feet of rentable space on the 6th 14th floor of the Building more particularly substantially as shown hatched on the floor plan annexed as Exhibit A-1 attached hereto and made a part hereof B-1 (the “Expansion Space”). Notwithstanding The Expansion Option shall be exercisable by Tenant giving Landlord notice thereof (the foregoing“Expansion Notice”) on or before the date occurring in the fourth (4th) month after the Commencement Date which is the same numerical date in the month as the Commencement Date, Lessor except that if no same numerical date shall exist in such fourth (4th) month, the Expansion Notice shall be given on or before the last day of such fourth (4th) month (time being of the essence). If Tenant shall fail to timely give the Expansion Notice, Tenant shall be deemed to have irrevocably waived the Expansion Option. (b) If Tenant timely gives the Expansion Notice, then, on the date on which Landlord delivers vacant possession of the Expansion Space to Tenant with Landlord’s Initial Work in the Expansion Space substantially completed within the meaning of the last sentence of Section 8.01(d) (the “ES Inclusion Date”), the Expansion Space shall become part of the Premises, upon all of the terms and Lessee each acknowledge and agree that conditions set forth in this Lease, except that: (i) the Fixed Rent payable pursuant to Section 2.02 shall be increased by an amount equal to (x) for the period commencing on the Expansion Commencement date occurring in the eighth (8th) month after the ES Inclusion Date and continuing through December 31which is the same numerical date in the month as the ES Inclusion Date or, 2007if no same numerical date shall exist in such eighth (8th) month, the Base Rent for last day of such eighth (8th) month (such date being the Expansion Space is based Rent Commencement Date”) and ending on 1,746 rentable square feet at an annual rate of $33.00 per square foot, and such calculation is reflected in the Base Rent set forth in Section 2.01 below. (b) Lessee acknowledges that day immediately preceding the availability 3rd anniversary of the Expansion Space is conditioned upon of Rent Commencement Date, Six Hundred Sixty-Three Thousand and 00/100 Dollars ($663,000) per annum, (y) for the prior lessee period commencing on the 3rd anniversary of the Expansion Space Rent Commencement Date and ending on the day immediately preceding the 5th anniversary of the Expansion Space Rent Commencement Date, Six Hundred Ninety-Three Thousand Six Hundred and 00/100 Dollars ($693,600) per annum and (z) for the “Prior period commencing on the 5th anniversary of the Expansion Space Rent Commencement Date and ending on the Expiration Date, Seven Hundred Fifty-Four Thousand Eight Hundred and 00/100 Dollars ($754,800) per annum; (ii) Tenant’s Tax Share shall be increased by four and four tenths percent (4.4%); (iii) timely vacating Tenant’s Operating Share shall be increased by four and four tenths percent (4.4%); (iv) Landlord’s Contribution shall be increased by Three Hundred Sixty-Seven Thousand and 00/100 Dollars ($367,000); (v) the Expiration Date shall be extended to the last day of the calendar month in which occurs the ten (10) year, eight (8) month anniversary of the day preceding the ES Inclusion Date; and (vi) the Security Deposit or Letter of Credit shall be increased by Four Hundred Forty-Two Thousand and 00/100 Dollars ($442,000), and Tenant shall deliver such space as it is required increase in the Security Deposit or Letter of Credit to Landlord on or before the ES Inclusion Date, and if Tenant fails to do pursuant so, the ES Inclusion Date shall nevertheless occur but Tenant shall not be permitted to occupy the terms Expansion Space until Tenant so delivers such Security Deposit or Letter of its lease. Lessor agrees Credit. (c) Promptly after the occurrence of the ES Inclusion Date, Landlord and Tenant shall confirm the occurrence thereof; the Expiration Date and the inclusion of the Expansion Space in the Premises by executing an instrument reasonably satisfactory to use its Landlord and Tenant; provided, that failure by Landlord or Tenant to execute such instrument shall not affect the inclusion of the Expansion Space in the Premises in accordance with this Section 1.05. (i) Landlord shall exercise diligent efforts to cause the Expansion Commencement ES Inclusion Date to occur on August 1, 2007. In or before the event date that is thirty (30) days following the giving of the Expansion Notice. Except as may be caused by Force Majeure or Tenant Delay, (A) if the ES Inclusion Date shall have failed to occur by the date that is forty-five (45) days after the date Landlord receives the Expansion Notice, then, for each day from such 45th day to the earlier to occur of the ES Inclusion Date and the fifty-ninth (59th) day after the date Landlord receives the Expansion Notice, the Expansion Space Rent Commencement Date has not occurred shall be extended one-half (1/2) day for each such day and (B) if the ES Inclusion Date shall have failed to occur by September 1, 2007the date that is sixty (60) days after the date Landlord receives the Expansion Notice, then from September the Expansion Space Rent Commencement Date shall be extended one (1, 2007 ) day for each day after such 60th day until the earlier occurrence of (i) the ES Inclusion Date. No extension of the Expansion Space Rent Commencement Date pursuant to this Section 1.05(d) shall extend the Base Space Rent Commencement Date, or . (ii) Except as may be caused by Force Majeure or Tenant Delay, if the termination of ES Inclusion Date shall have failed to occur by the Lease, Lessee shall be entitled to 15.39% of date (the base rent due from “ES Inclusion Outside Date”) that is one hundred sixty-five (165) days following the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that date Landlord receives the Expansion Commencement Date has not occurred by October 1, 2007Notice, then Lessee Tenant shall have the right, as Tenant’s sole and exclusive remedy, to terminate the Expansion Notice by written notice (the “Expansion Termination Notice”) to Landlord given within five (5) days following the ES Inclusion Outside Date. Such termination shall be effective the date of such Expansion Termination Notice, with the same force and effect as if Tenant had never exercised the Expansion Option. If Tenant shall fail to deliver timely an Expansion Termination Notice to Landlord within five (5) days following the ES Inclusion Outside Date, then Tenant shall be deemed to have irrevocably waived its right to terminate the Lease by written notice Expansion Notice pursuant to Lessorthis Section 1.05(d)(ii). Notwithstanding the provisions No termination of Section 2.01, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent Notice pursuant to this Section 2.01 for 1.05(d)(ii) shall terminate or otherwise affect this Lease with respect to any other portion of the Premises. (iii) Except as otherwise provided in this Section 1.05(d), if Landlord is unable to deliver possession of the Expansion Space to Tenant for any reason, Landlord shall be abated. The foregoing have no liability to Tenant therefor, Tenant shall have no right to share in amounts collected from the Prior Tenant, right to terminateor remedy against Landlord, and right the validity of this Lease shall not in any way be impaired nor shall the Term be extended by reason thereof. This Section 1.05(d)(iii) constitutes “an express provision to abatement the contrary” within the meaning of Base Rent for Section 223-a of the Expansion Space shall be Lessee’s sole remedies New York Real Property Law and any other law of like import now or hereafter in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of Leaseeffect. (ce) Exhibit A The rights granted in this Section 1.05 are available only to the Lease is hereby amended to include Exhibit A-1 showing the Expansion SpaceNamed Tenant and any Named Tenant Permitted Assignee, and are not available to, and may not be exercised by, any other assignee, or any subtenant, or any other entity claiming by, through or under Tenant.

Appears in 1 contract

Samples: Lease (Thomas Weisel Partners Group, Inc.)

Expansion Space. Section 1.01 of the Lease is amended to provide as follows: (a) Effective Suite 1000 is that certain suite of approximately five thousand five hundred forty-four (5,544) square feet of rentable area shown on Exhibit 1. Suite 1020 is that certain suite of approximately one thousand nine hundred thirty-seven (1,937) square feet of rentable area shown on Exhibit 1. (b) The term “Suites 1000/1020 Commencement Date” is the later date of this Second Amendment, and effective as of the Suite 1000/1020 Commencement Date: (i) August 1, 2007, or Landlord hereby leases to Tenant and Tenant hereby leases from Landlord Suites 1000 and 1020; and (ii) the date that the existing lessee vacates the “Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Commencement Date”), the term “Demised Premises” shall include Suites 1000 and 1020, and Tenant’s lease of Suites 1000 and 1020 shall be subject to all the approximately 5,672 square feet terms and conditions of rentable space the Lease, as modified hereby. (c) The Lease Term for Suites 1000 and 1020 shall commence on the 6th floor of the Building more particularly shown on Exhibit A-1 attached hereto and made a part hereof (the “Expansion Space”). Notwithstanding the foregoing, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion Suites 1000/1020 Commencement Date and continuing through December 31shall expire as and when the Lease Term for the initial Premises expires. (d) The Rent Commencement Date for Suites 1000 and 1020 shall be the earlier of (a) ninety (90) days after the Suites 1000/1020 Commencement Date, 2007and (b) the date Tenant commences beneficial use of Suites 1000 and 1020. Tenant shall be deemed to have commenced beneficial use of Suites 1000 and 1020 when Tenant begins normal business operations in Suites 1000 and 1020. If Tenant is in material breach of any obligation under the Lease or this Amendment, then at Landlord’s written election, Tenant shall not have any right to commence beneficial use of Suites 1000 and 1020 and Tenant’s rights pursuant to this Paragraph 2 shall be of no further force or effect. If the Rent Commencement Date for Suites 1000 and 1020 is not the first day of a month, then on the Rent Commencement Date for Suites 1000 and 1020, Tenant shall pay the Base Rent for the Expansion Space is based on 1,746 rentable square feet month in which such Rent Commencement Date occurs, calculated at an annual a daily rate of $33.00 per square foot, and such calculation is reflected in one-thirtieth (1/30th) of an installment of the monthly Base Rent set forth in Section 2.01 belowfor Suites 1000 and 1020. (be) Lessee acknowledges that the availability Base Rent per rentable square foot of the Expansion Space is conditioned upon of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required to do pursuant to the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1, 2007. In the event that the Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of (i) the Expansion Commencement Date, or (ii) the termination of the Lease, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant Suites 1000 and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then 1020 for the period from and after August 1, 2007 until the Expansion Rent Commencement Date occurs, Lessee’s obligation to pay for Suites 1000 and 1020 through the end of the then current Lease Year for the Premises shall be the then current Base Rent pursuant per rentable square foot of the Premises being paid by Tenant (thereafter Base Rent for Suites 1000 and 1020 shall be increased on the same day, in the same manner and using the same percentage for increases in Base Rent as applicable to Section 2.01 the Premises), except that the first four (4) full calendar months of Base Rent due for the Expansion Space Suites 1000 and 1020 only shall be abated. The foregoing right to share . (f) Landlord shall deliver and Tenant shall accept Suites 1000 and 1020 in amounts collected from the Prior Tenant, right to terminateits “as is” condition as of Suites 1000/1020 Commencement Date, and right Landlord is under no obligation to abatement of Base Rent for the Expansion Space shall be Lessee’s sole remedies make any Alterations in or to Suites 1000 and 1020 except as otherwise expressly provided in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of Lease. (cg) Exhibit A Landlord shall provide Tenant an allowance (the “Suites 1000/1020 Allowance”) of twenty-five dollars ($25.00) per rentable square foot of Suites 1000 and 1020. The Suites 1000/1020 Allowance is provided in order to help Tenant finance the cost of tenant improvements to Suites 1000 and 1020 (“Suites 1000/1020 Work”). As part of the Suites 1000/1020 Work, Tenant shall be permitted to eliminate all demising walls in Suites 1000/1020 so that all space leased by Tenant in Suites 1000/1020 is contiguous; in each case subject to Landlord’s approval of the design for such renovations, such approval not to be unreasonably conditioned, withheld or delayed. Landlord shall have no duty to advance any portion of the Suites 1000/1020 Allowance until Landlord has approved final working drawings for such Suites 1000/1020 Work, which approval shall not be unreasonably withheld, conditioned or delayed. The Suites 1000/1020 Allowance may be used for any portion of the Suites 1000/1020 Work, including, but not limited to, build-out, design, drawings, and CD’s and a reasonable and customary construction management fee of one percent (1%) of total construction costs payable to Landlord, and up to $5.00 per rentable square foot of the Suites 1000/1020 Allowance may be used to pay the costs of furniture, telecommunications equipment, ca bling and wiring. Within thirty (30) days after the written request of Tenant, provided that at the time of Tenant’s written request the Suites 1000/1020 Work is substantially complete, as certified by Tenant’s architect and verified by Landlord’s construction manager, Landlord shall reimburse Tenant for reasonable expenses incurred by Tenant to date in constructing such Suites 1000/1020 Work to the Lease extent of the Suites 1000/1020 Allowance, provided: (i) such request is hereby amended accompanied by a copy of the invoice for such expenses; (ii) copies of all contracts, bills, vouchers, change orders and other information relating to include Exhibit A-1 showing the Expansion Spaceexpenses for which reimbursement is being sought as may be reasonably requested by Landlord shall be made available to Landlord by Tenant; (iii) the work and materials for which payment is requested are substantially in accordance with the final working drawings approved by Landlord; (iv) the work and materials for which payment is requested have been physically incorporated into Suites 1000 and 1020, free of any security interest, lien or encumbrance; and (v) Tenant has delivered to Landlord written, unconditional final waivers of mechanics’ and materialmen’s liens against Suites 1000 and 1020, the Premises and the Building from all contractors, subcontractors, laborers and material suppliers. Notwithstanding anything above to the contrary, Landlord shall not be required to reimburse Tenant for any invoice received later than six (6) months following the Rent Commencement Date for Suites 1000 and 1020, and any Suites 1000/1020 Allowance not spent for the Suites 1000/1020 Work or for which payment is not requested by such date by Tenant as aforesaid shall remain the property of Landlord. The Suites 1000/1020 Allowance must be used for work and materials physically incorporated into Suites 1000 and 1020. (h) Tenant shall receive an additional thirty (30) access cards for entry to the Building and Garage at no cost within ten (10) days of the Suites 1000/1020 Commencement Date. Replacement access cards or additional access cards may be provided by Landlord upon Tenant’s request and at Landlord’s standard charge.

Appears in 1 contract

Samples: Lease Agreement (Alarm.com Holdings, Inc.)

Expansion Space. Section 1.01 (a) Subject to all of the terms and conditions of the Lease is amended (except as expressly set forth in this First Amendment), Landlord hereby leases to provide as follows: (a) Effective on the later of Tenant, and Tenant hereby leases from Landlord, (i) August 1Phase 1 for a term commencing on the date of this First Amendment and ending on the last day of the Term (as it may be extended pursuant to the terms of the Lease), 2007, or and (ii) Phase 2 for a term commencing on the date that the existing lessee vacates on which exclusive possession of Phase 2 is delivered to Tenant (the “Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Phase 2 Commencement Date”), the term “Demised Premises” shall include the approximately 5,672 square feet of rentable space ) and ending on the 6th floor last day of the Building more particularly shown on Exhibit A-1 attached hereto and made a part hereof Term (as it may be extended pursuant to the “Expansion Space”terms of the Lease). Notwithstanding the foregoing, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion The Phase 2 Commencement Date is estimated to occur on or about June 10, 2022. Tenant acknowledges and continuing through December 31, 2007, the Base Rent for agrees that Tenant hereby leases the Expansion Space is based on 1,746 rentable square feet at an annual rate in its “AS IS,” “WHERE IS” condition, without representations or warranties, express or implied, in fact or by law, of $33.00 per square footany kind, and such calculation is reflected in the Base Rent set forth in Section 2.01 belowwithout recourse to Landlord. (b) Lessee acknowledges that Notwithstanding anything to the availability of contrary contained in the Lease, the Expansion Space is conditioned upon of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required to do pursuant to shall be used only for general office use in a manner consistent with First Class Life Sciences Projects, in compliance with, and subject to, Applicable Laws as-of-right and otherwise in compliance with the terms of its lease. Lessor agrees the Lease as amended hereby. (c) Notwithstanding anything to use its diligent efforts to cause the Expansion Commencement Date contrary, commencing on the later to occur on August 1, 2007. In the event that the Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of (i) the Expansion Phase 2 Commencement Date, or Date and (ii) the termination of the Lease, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October September 1, 20072022 (such later date, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01“ES RCD”), in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant during the Initial Term with respect to Section 2.01 for the Expansion Space shall be abated. The foregoing right to share paid in amounts collected from the Prior Tenantfollowing amounts, right to terminateprorated for any partial months, and right to abatement otherwise in accordance with the terms of the Lease: Period of Time Annual Base Rent Monthly Installment Per RSF1 1 The Base Rent per RSF of the Expansion Space increases by Two and 75/100 percent (2.75%) on 5/1/24 and annually thereafter. * Notwithstanding anything to the contrary, so long as Tenant is not in default of any of its obligations under the Lease beyond any applicable notice and cure period, Base Rent with respect to the Expansion Space only for the 8-month period commencing on the ES RCD shall be 100% abated. (d) Commencing on September 1, 2022, and thereafter through the end of the Lease Term, Tenant shall pay Direct Expenses for the Expansion Space, and “Tenant’s Share” with respect to the Expansion Space shall be Lessee’s sole remedies in the event Lessor mean Nine and 67/100 percent (9.67%) (i.e., 6,582/68,082), it being understood and agreed that Tenant shall be unable pay for Direct Expenses with respect to deliver the Expansion Space. Lessor Space from and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of Leaseafter such date. (c) Exhibit A to the Lease is hereby amended to include Exhibit A-1 showing the Expansion Space.

Appears in 1 contract

Samples: Lease (Cogent Biosciences, Inc.)

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Expansion Space. Section 1.01 Subject to the existing rights of tenants of the Lease is amended Building under leases that are in effect as of the Effective Date, which existing rights shall be superior to provide as follows: (a) Effective those of Tenant, and further subject to the limitations otherwise set forth in this Paragraph 5, in the event any office space located on the later of (i) August 1, 2007, or (ii) the date that the existing lessee vacates the “Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Commencement Date”), the term “Demised Premises” shall include the approximately 5,672 square feet of rentable space on the 6th eighth floor of the Building more particularly shown on Exhibit A-1 attached hereto and made a part hereof (contiguous to the “Expansion Space”). Notwithstanding Premises become(s) available during the foregoingTerm, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion Commencement Date and continuing through December 31, 2007, the Base Rent for the Expansion Space is based on 1,746 rentable square feet at an annual rate of $33.00 per square foot, and such calculation is reflected in the Base Rent set forth in Section 2.01 below. (b) Lessee acknowledges that the availability Landlord shall notify Tenant of the Expansion Space is conditioned upon size and configuration of such available contiguous space, which may include the prior lessee of the Expansion Excess Space (the “Prior TenantAvailable Adjacent Space”) and Tenant shall have the right, to be exercised within thirty (30) days after receipt of such notice from Landlord (the “Exercise Period”), to elect in writing to expand the Premises to include the Available Adjacent Space so identified by Landlord for the then-balance of the Term hereof and otherwise on the same terms and conditions set forth in this Lease including, without limitation, the per square foot rental rates then and thereafter in effect pursuant to Section 11 above. If Tenant timely vacating so elects to lease such Available Adjacent Space, the parties shall enter into an amendment to this Lease adding such Available Adjacent Space to the definition of the Premises and each of the requisite additional provisions implicated thereby. If Tenant elects not or fails to notify Landlord of Tenant’s desire to lease such Available Adjacent Space within the Exercise Period, Landlord shall have the right, for a period of eighteen (18) months after the expiration of the Exercise Period, to lease such space to any third party upon such terms, conditions, and rates as it is required Landlord so elects in its sole discretion. The provisions of this Paragraph 5 shall apply again if during the Term (1) Landlord fails to do pursuant lease such previously identified Available Adjacent Space as set forth above within the aforesaid eighteen (18) month period after the expiration of the applicable Exercise Period, (2) Landlord leases such previously identified Available Adjacent Space to the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1, 2007. In the event that the Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of a third party and such space (ior any portion thereof) the Expansion Commencement Datesubsequently again becomes available, or (ii3) any other Available Adjacent Space becomes available. Landlord acknowledges and agrees that as it relates to the termination of Excess Space only, Landlord shall not, following the LeaseEffective Date, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor enter into a lease for such period out Excess Space the term of the base rent due from the Prior which exceeds sixty (60) months without first obtaining Tenant. In the event that the Expansion Commencement Date has not occurred by October 1’s consent, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent except pursuant to Section 2.01 for any negotiations with any prospective tenant(s) that were commenced by Landlord on or before the Expansion Space shall be abated. The foregoing right to share in amounts collected from the Prior Tenant, right to terminate, and right to abatement of Base Rent for the Expansion Space shall be Lessee’s sole remedies in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of LeaseEffective Date. (c) Exhibit A to the Lease is hereby amended to include Exhibit A-1 showing the Expansion Space.

Appears in 1 contract

Samples: Office Lease Agreement (Surgical Care Affiliates, Inc.)

Expansion Space. (a) Landlord and Tenant hereby acknowledge and agree that Section 1.01 29 of the Lease is amended to provide as follows:are hereby deleted in their entirety, and Tenant shall have no further rights under such provisions. (ab) Effective If Landlord and Tenant shall enter into an additional amendment to the Lease on the later of or before January 31, 2004, pursuant to which: (i) August 1Tenant leases all, 2007and not less than all, or (ii) of the date that the existing lessee vacates the “Expansion Space” (as such term is hereinafter defined) (such later date of (i) or (ii) being the “Expansion Commencement Date”), the term “Demised Premises” shall include the approximately 5,672 51,254 square feet of gross rentable space on the 6th floor of area in the Building more particularly shown depicted as the "Expansion Space" on Exhibit A-1 A attached hereto and made a part hereof (the "Expansion Space”). Notwithstanding the foregoing, Lessor and Lessee each acknowledge and agree that ") for the period commencing on remainder of the Expansion Commencement Date Term; and continuing through December 31, 2007, the Base Rent for (ii) Tenant accepts the Expansion Space is based on 1,746 rentable square feet at an annual rate of $33.00 per square footin its then current "as is" condition, and pursuant to such calculation is reflected other terms and conditions upon which Landlord and Tenant shall mutually agree in their respective sole and absolute discretion, then Landlord shall make the Base Rent set forth $90,000 TI Allowance available to Tenant in accordance with Section 2.01 below. (b) Lessee acknowledges that the availability 9.2 of the Expansion Space is conditioned upon Lease and Section 5 of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required to do pursuant to the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1, 2007. In the event that the Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of (i) the Expansion Commencement Date, or (ii) the termination of the Lease, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant to Section 2.01 for the Expansion Space shall be abated. The foregoing right to share in amounts collected from the Prior Tenant, right to terminate, and right to abatement of Base Rent for the Expansion Space shall be Lessee’s sole remedies in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of LeaseWork Letter. (c) Exhibit A If the condition precedent described in Section 5(b) shall not have been satisfied on or before January 31, 2004, and: (i) Landlord leases all of the Expansion Space to a tenant other than Tenant, then, (x) Landlord shall construct a standard demising wall between the Premises (as expanded under this First Amendment) and the Expansion Space at Landlord's sole cost and expense; and (y) Landlord shall be required to pay up to the Lease is hereby amended $90,000 TI Allowance to include Exhibit A-1 showing Tenant solely to reimburse Tenant for all reasonable costs and expenses of Tenant relating to the construction of the office space to be located in the Premises and described in Schedule 1 to the Work Letter, and for no other costs and expenses; or (ii) Landlord shall lease all or a portion of the Expansion SpaceSpace to Tenant (other than in accordance with Section 5(b) above), then Section 9.2 of the Lease and Section 5 of the Work Letter shall be amended such that the term "TI Allowance" shall be defined as "zero dollars ($0.00)."

Appears in 1 contract

Samples: Lease (Innotrac Corp)

Expansion Space. Section 1.01 2.1 The "Future Premises" is hereby redefined to be all of the Lease is amended to provide as follows: interior RSF on Floor 1 in the Building, with the exceptions of (a) Effective the portions thereof already included in the Initial Premises, (b) a certain below-described common area lobby (which may be excluded on only a temporary basis, as outlined below) and (c) the later portion thereof in excess of 25,000 RSF. Such excess portion (ilikely to be roughly 3,000 RSF to roughly 5,000 RSF) August shall be deemed to be part of the below-described "Expansion Space" and shall hereinafter be referred to as the "Higher Rent Portion of Floor 1", because the primary reason for drawing a distinction between the Future Premises and the Higher Rent Portion of Floor 1 is that the Higher Rent Portion of Floor 1, 2007, or (ii) being a part of the date that the existing lessee vacates the “Expansion Space” (as such term , will cost Tenant and generate to Landlord higher rent than is hereinafter defined) (such later date the case with regard to the Future Premises. The "Expansion Space" is hereby defined to be the Higher Rent Portion of (i) or (ii) being the “Expansion Commencement Date”), the term “Demised Premises” shall include the approximately 5,672 square feet of rentable space on the 6th floor Floor 1 and all of the Building more particularly shown interior RSF on Exhibit A-1 attached hereto Floors 2, 3 and made 4 in the Building, with the exception of the portions thereof already included in the Initial Premises, and with the further exception of a part hereof certain below-described common area lobby (the “Expansion Space”which may be excluded on only a temporary basis, as outlined below). Notwithstanding the foregoingIn other words, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion Commencement Date and continuing through December 31, 2007, the Base Rent for the Expansion Space is based on 1,746 rentable square feet at an annual rate made up of $33.00 per square foot(a) the Higher Rent Portion of Floor 1, and such calculation is reflected in the Base Rent set forth in Section 2.01 below. (b) Lessee acknowledges that roughly the availability south half of Floors 2 and 3, each of which half floor contains roughly 30,000 RSF, and (c) roughly 25,000 RSF on Floor 4, yielding an Expansion Space totaling approximately 90,000 RSF. The Floor 2 portion of the Expansion Space is conditioned upon of shall hereinafter be referred to as "Expansion Space Two"; the prior lessee Floor 3 portion of the Expansion Space (shall hereinafter be referred to as "Expansion Space Three" ; and the “Prior Tenant”) timely vacating such space as it is required to do pursuant to the terms Floor 4 portion of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date Space shall hereinafter be referred to occur on August 1, 2007. In the event that the as "Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of (i) the Expansion Commencement Date, or (ii) the termination of the Lease, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, Space Four". 2.2 The RSF in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant to Section 2.01 for the Expansion Space shall be abatedmeasured in accordance with Section 2(a) of the Lease. Landlord and Tenant acknowledge and agree that the Future Premises and all of the Expansion Space will forever exclude an exterior entrance (on Floor 1) and small elevator lobby (on Floors 1 through 4) in the southeast corner of the Building, which entrance and lobby shall serve the occupants of the Ground Floor and Floor 5. The foregoing location and approximate dimensions of such southeast entrance and lobby are shown on the floor plan attached hereto as Exhibit A, and incorporated herein by this reference. In addition, at least until such time as Tenant has occupied all of the Expansion Space and the Future Premises, the Future Premises shall also exclude an exterior entrance and common area elevator lobby located on the eastern side of the Future Premises north of the loading docks (such entrance and lobby shall hereinafter be referred to as the "South Building Lobby"). The location and approximate dimensions of the South Building Lobby are shown on Exhibit A. Finally, at least until such time as Tenant has occupied all of the Expansion Space and the Future Premises, Expansion Space Two will exclude the skybridge entrance and common area lobby located on the eastern side of Expansion Space Two immediately adjacent to the skybridge (such entrance and lobby shall hereinafter be referred to as the "Skybridge Lobby"). The location and approximate dimensions of the Skybridge Lobby are shown on the floor plan attached hereto as Exhibit A and incorporated herein by this reference. The Art Institute of Seattle ("AIS") is the current tenant of the Ground Floor and Floor 5. Under its lease, AIS's staff and employees (as distinct from students) have the right to share enter the Building at the Skybridge Lobby and to then take an elevator in amounts collected from the Prior TenantSkybridge Lobby to the South Building Lobby, at which point they must exit the Building and re-enter at the above- described southeast entrance and lobby or at their newly created entrance on the southwest corner of the Ground Floor. If AIS relinquishes such rights to the Skybridge Lobby and the South Building Lobby on or before the date on which Tenant occupies all of the Expansion Space and the Future Premises, which Landlord currently thinks is likely, then, once Tenant has occupied all of the Expansion Space and the Future Premises, the Future Premises and Expansion Space Two will include the South Building Lobby and the Skybridge Lobby, respectively. If, on the other hand, AIS does not relinquish such rights on or before the date on which Tenant occupies all of the Expansion Space and the Future Premises, then the Future Premises and Expansion Space Two will exclude the South Building Lobby and the Skybridge Lobby, respectively, throughout the entire term of the Lease. Finally, Sections 2(b) and 2(c) of the Lease are hereby revised by deleting all references to the "AIS Elliot Level Space". 2.3 In lieu of having the right to terminatedesignate the location of the Future Premises through July 1, 1999, as such right is outlined in Section 2(c) of the Lease, Landlord shall have the right through July 1, 1999 to reverse Expansion Space Three and right to abatement Expansion Space Four, so that the Floor 3 portion of Base Rent for the Expansion Space shall be Lessee’s sole remedies in become Expansion Space Four and the event Lessor shall be unable to deliver Floor 4 portion of the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Space shall become Expansion Commencement Date which shall be recordable if required under any Notice of LeaseSpace Three. (c) Exhibit A to the Lease is hereby amended to include Exhibit A-1 showing the Expansion Space.

Appears in 1 contract

Samples: Lease Amendment (Realnetworks Inc)

Expansion Space. Section 1.01 of the Lease is amended to provide as follows: (a) Effective Commencing on the later Suite 1210/1230 Commencement Date (defined below), Landlord shall lease to Tenant and Tenant shall lease from Landlord additional space on the twelfth (12th) floor of the Building containing approximately: (i) three thousand six hundred sixty-six (3,666) square feet of rentable area shown on Exhibit 1 (“Suite 1230”); and (ii ) two thousand seven hundred twenty-three (2,723) square feet of rentable area shown on Exhibit 1 (“Suite 1210,” and together with Suite 1230, collectively, “Suite 1210/1230”). From and after the Suite 1210/1230 Commencement Date, the term “Premises” shall include Suite 1210/1230 (and shall contain a total of thirty-six thousand three hundred fifty [36,350] square feet of rentable area), and Suite 1210/1230 shall be subject to all terms and conditions of the Lease, as modified hereby. The Lease Term for Suite 1210/1230 shall expire as and when the current Lease Term for the remainder of the Premises expires (i.e., August 31, 2016). (b) The “Suite 1210/1230 Commencement Date” means the earlier of (i) August 1, 2007the date possession of Suite 1210/1230 is delivered to (or refused by) Tenant, or (ii) the date Tenant commences beneficial use of Suite 1210/1230. Tenant shall be deemed to have commenced beneficial use of Suite 1210/1230 when Tenant begins normal business operations in Suite 1210/1230. If Tenant is in material breach of any obligation under the Lease or this Amendment, then at Landlord’s written election until such breach has been cured, Tenants hall not have any right to commence beneficial use of Suite 1210/1230 and Tenant’s rights pursuant to this Paragraph 3 shall be of no further force or effect. Anything to the contrary contained in this Lease notwithstanding, if any Law requires an occupancy or use permit for Suite 1210/1230, then Tenant shall initially obtain such permit at Tenant’s cost and deliver a copy thereof to Landlord, and thereafter Tenant shall keep current such permit at Tenant’s cost. (c) Suite 1210/1230 shall be delivered by Landlord and accepted by Tenant in “as is” condition, and Landlord is under no obligation to make or pay for any Alterations in or to Suite 1210/1230; except that prior to the existing lessee vacates Suite 1210/1230 Commencement Date, Landlord shall remove from Xxxxx 0000/0000 all of the “Expansion Space” prior occupant’s moveable personal property (e.g., tables, chairs and other furnishings). At the end of the Lease Term, Tenant shall not be obligated to remove any Alterations from Suite 1210/1230 that exist at the time Landlord initially delivers possession of Suite 1210/1230 to Tenant. (d) From and after the Suite 1210/1230 Commencement Date, Tenant shall pay to Landlord Base Rent for Xxxxx 0000/0000 based on the then current Base Rent rate per square foot applicable to the remainder of the Premises (which, as such term is hereinafter defined) (such later of the date of this Amendment, is twenty-eight dollars [$28.00] per square foot of rentable area), and thereafter Base Rent for Suite 1210/1230 shall be increased as and when Base Rent for the remainder of the Premises is increased. If the Suite 1210/1230 Commencement Date occurs on a day other than the first day of a month, then the first installment of Base Rent for Suite 1210/1230 shall be prorated at a daily rate, using as the numerator the number of days in the month containing the Suite 1210/1230 Commencement Date from and after (ii.e., including) or (ii) being the “Expansion Suite 1210/1230 Commencement Date”), and using as the term “Demised Premises” shall include the approximately 5,672 square feet of rentable space on the 6th floor of the Building more particularly shown on Exhibit A-1 attached hereto and made a part hereof denominator thirty (the “Expansion Space”)30) days. Notwithstanding the foregoing, Lessor and Lessee each acknowledge and agree that for the period commencing on the Expansion Commencement Date and continuing through December 31, 2007The foregoing notwithstanding, the Base Rent for Suite 1210/1230 for the Expansion Space is based on 1,746 rentable square feet at an annual rate of $33.00 per square foot, and such calculation is reflected in first two (2) full calendar months after the Base Rent set forth in Section 2.01 belowSuite 1210/1230 Commencement Date only shall be abated. (be) Lessee acknowledges that On the availability of the Expansion Space is conditioned upon of the prior lessee of the Expansion Space (the “Prior Tenant”) timely vacating such space as it is required to do pursuant to the terms of its lease. Lessor agrees to use its diligent efforts to cause the Expansion Commencement Date to occur on August 1, 2007. In the event that the Expansion Commencement Date has not occurred by September 1, 2007, then from September 1, 2007 until the earlier of (i) the Expansion Xxxxx 0000/0000 Commencement Date, or Tenant’s proportionate share (iiand all charges based upon the rentable square footage of the Premises) shall be adjusted upward as provided for in the termination Lease (including, without limitation, as provided for in Sections 5.1(a) and 5.2(a) of the Lease). The foregoing notwithstanding, Lessee shall be entitled to 15.39% of the base rent due from the Prior Tenant and collected by Lessor for such period out of the base rent due from the Prior Tenant. In the event that the Expansion Commencement Date has not occurred by October 1, 2007, then Lessee shall have the right to terminate the Lease by written notice to Lessor. Notwithstanding the provisions of Section 2.01, in the event that the Expansion Commencement Date does not occur by August 1, 2007, then for the period from and after August 1, 2007 until the Expansion Commencement Date occurs, Lessee’s obligation to pay Base Rent pursuant Tenant’s proportionate share of Operating Charges and Real Estate Taxes with respect to Section 2.01 for Suite 1210/1230 shall not commence until January 1, 2014 (and such obligation from the Expansion Space date of this Amendment through December 31, 2013 shall be abated, but only with respect to Suite 1210/1230). (f) Tenant shall receive an additional forty (40) access cards for entry to the Building and Garage at no cost within ten (10) days of the Xxxxx 0000/0000 Commencement Date. Replacement access cards or additional access cards may be provided by Landlord upon Tenant’s request and at Landlord’s standard charge. The foregoing right and anything to share in amounts collected from the Prior Tenant, right to terminate, and right to abatement of Base Rent for the Expansion Space shall be Lessee’s sole remedies contrary contained in the event Lessor shall be unable to deliver the Expansion Space. Lessor and Lessee agree to execute a document identifying the exact Expansion Commencement Date which shall be recordable if required under any Notice of Lease. (c) Exhibit A to the Lease is hereby amended to include Exhibit A-1 showing the Expansion Space.or this Amendment notwithstanding:

Appears in 1 contract

Samples: Lease Agreement (Alarm.com Holdings, Inc.)

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