First Floor Premises. The Lease with respect to the First Floor Premises shall terminate as provided for in the Lease on the FFP Surrender Date. Tenant shall voluntarily surrender the First Floor Premises on or before such date in the condition which Tenant is required to surrender the Premises as of the expiration of the Lease. Tenant represents and warrants that since the Commencement Date of the Lease, the First Floor Premises has been used solely for offices purposes, warehousing and shipping and receiving (including the storage of Subtenant’s chemicals in the warehouse space and storage of chemical waste in the chemical waste room located in the First Floor Premises). Notwithstanding anything to the contrary contained herein or in the Lease, so long as the First Floor Premises continues to be used solely for office purposes, warehousing and shipping and receiving through the FFP Surrender Date, Tenant shall not be required to provide Landlord a Surrender Plan with respect to the First Floor Premises in connection with Tenant’s surrender of the First Floor Premises. From and after the FFP Surrender Date, Tenant shall have no further rights or obligations of any kind with respect to the First Floor Premises. Notwithstanding the foregoing, those provisions of the Lease which, by their terms, survive the termination of the Lease shall survive the surrender of the First Floor Premises and termination of the Lease with respect to the First Floor Premises as provided for herein. Nothing herein shall excuse Tenant from its obligations under the Lease with respect to the First Floor Premises prior to the FFP Surrender Date. Notwithstanding anything to the contrary contained in the Lease, (i) Tenant shall not be required to remove any Tenant Improvements or Alterations from the First Floor Premises in connection with its surrender of the First Floor Premises and all Tenant Improvements and Alterations located in the First Floor Premises shall become the Property of Landlord on the Surrender Date, and (ii) in addition to any such Tenant Improvements and Alterations, all casework, if any, located in the First Floor Premises as of the date of this First Amendment shall also remain in the First Floor Premises and become the Property of Landlord on the Surrender Date. Tenant has informed Landlord that Tenant will be relocating certain of its employees currently located in the First Floor Premises to a portion of Tenant’s premises located within the 901 Gateway Building (as defined below). Tenant shall have the right to extend the term of the Lease with respect to the First Floor Premises for a period of ninety (90) days in order to complete the relocation of its employees. Not later than 90 days after the mutual execution and delivery of this First Amendment by the parties, Tenant shall notify Landlord in writing (“FFP Notice”) whether Tenant elects to extend the term of the Lease with respect to the First Floor Premises for such ninety (90) day period. If Tenant delivers the FFP Notice to Landlord within the time period provided in the immediately preceding sentence, the FFP Surrender Date shall be automatically extended for one (1) additional period of ninety (90) days (“FFP Extension Period”). During the FFP Extension Period, Tenant shall have the right to continue to occupy the First Floor Premises pursuant to all of the terms and conditions of the Lease, as modified by this First Amendment; provided, however, that Tenant shall be required to pay Monthly Base Rent for the First Floor Premises in an amount equal to $55,759.20 per month for each month of the FFP Extension Period, along with all Additional Rent payable with respect to the First Floor Premises pursuant to the terms of the Lease.
Appears in 2 contracts
Samples: Lease Agreement (Theravance Biopharma, Inc.), Lease Agreement (Theravance Inc)
First Floor Premises. The Lease portion of the Original Premises located on the first floor of the Building (the "First Floor Premises") shall consist of either the rentable area shown in "Option A" or the rentable area shown in "Option B" as identified on the floor plan of the first floor attached as Exhibit G, as Landlord elects to deliver to Tenant pursuant hereto. The rentable square footage of each such space is set forth in Exhibit G. Landlord is delivering herewith the rentable area shown in "Option A" to Tenant and the Commencement Date shall be deemed to have occurred as of the date hereof with respect to the First Floor Premises shall terminate as provided for in the Lease on the FFP Surrender Date. Tenant shall voluntarily surrender the First Floor Premises on or before such date in the condition which Tenant is required to surrender the Premises as of the expiration of the Lease. Tenant represents and warrants that since the Commencement Date of the Lease, the First Floor Premises has been used solely for offices purposes, warehousing and shipping and receiving (including the storage of Subtenant’s chemicals in the warehouse space and storage of chemical waste in the chemical waste room located in the First Floor Premises). Notwithstanding anything to the contrary contained herein or in the Lease, so long as the First Floor Premises continues to be used solely for office purposes, warehousing and shipping and receiving through the FFP Surrender Date, Tenant shall not be required to provide Landlord a Surrender Plan with respect to the First Floor Premises in connection with Tenant’s surrender portion of the First Floor Premises. From and after If Landlord elects to make the FFP Surrender Dateadditional rentable square footage on the first floor of the Building which, together with the space constituting "Option A" would constitute "Option B," a portion of the Original Premises, such additional space shall become part of the First Floor Premises upon the Commencement Date therefor. During any period from the Commencement Date to the Annual Fixed Rent Commencement Date with respect to any First Floor Premises, Tenant will pay Landlord, in lieu of Annual Fixed Rent and Additional Rent pursuant to Sections 3.2 and 3.3, the cost of cleaning the First Floor Premises and furnishing any utility services thereto. Upon the establishment of the total rentable square footage of the First Floor Premises pursuant hereto, which determination shall have be made not later than March 1, 1992, the rentable square footage thereof (and consequently of the entire Original Premises) specified in Exhibit A shall be corrected to reflect the correct square footage by an amendment to this Lease executed promptly thereafter by Landlord and Tenant. Landlord shall, promptly after March 1, 1992, at its sole cost and expense, install demising walls in the First Floor Premises promptly following the establishment of the size thereof in accordance with this Section 2.8. During the period from the Commencement Date until the date Landlord no further rights or obligations of any kind with respect longer controls the present Forest City marketing conference center adjacent to the First Floor Premises. Notwithstanding , Landlord will permit Tenant access and use during the foregoing, those provisions normal hours of the Lease whichBuilding's operation, by their termswith reasonable advance notice and subject to reasonable rules and regulations, survive to such marketing conference center for periodic meetings and the termination of the Lease shall survive the surrender of the First Floor Premises and termination of the Lease with respect like. It is understood that Landlord's election to the First Floor Premises as provided for herein. Nothing herein shall excuse Tenant from its obligations under the Lease with respect to the First Floor Premises prior to the FFP Surrender Date. Notwithstanding anything to the contrary contained in the Lease, (i) Tenant shall not be required to remove any Tenant Improvements or Alterations from the First Floor Premises in connection with its surrender of the First Floor Premises and all Tenant Improvements and Alterations located in make "Option A" rather than "Option B" the First Floor Premises shall become the Property of Landlord on the Surrender Date, and (ii) in addition be based solely upon whether such additional space shall be necessary to any such Tenant Improvements and Alterations, all casework, if any, located accommodate another tenant in the First Floor Premises as of the date of this First Amendment shall also remain in the First Floor Premises and become the Property of Landlord on the Surrender Date. Tenant has informed Landlord that Tenant will Building who would be relocating certain of its employees currently located in the First Floor Premises relocated into such space to a portion of accommodate Tenant’s premises located within the 901 Gateway Building (as defined below). Tenant shall have the right to extend the term of the Lease with respect to the First Floor Premises for a period of ninety (90) days in order to complete the relocation of its employees. Not later than 90 days after the mutual execution and delivery of this First Amendment by the parties, Tenant shall notify Landlord in writing (“FFP Notice”) whether Tenant elects to extend the term of the Lease with respect to the First Floor Premises for such ninety (90) day period. If Tenant delivers the FFP Notice to Landlord within the time period provided in the immediately preceding sentence, the FFP Surrender Date shall be automatically extended for one (1) additional period of ninety (90) days (“FFP Extension Period”). During the FFP Extension Period, Tenant shall have the right to continue to occupy the First Floor Premises pursuant to all of the terms and conditions of the Lease, as modified by this First Amendment; provided, however, that Tenant shall be required to pay Monthly Base Rent for the First Floor Premises in an amount equal to $55,759.20 per month for each month of the FFP Extension Period, along with all Additional Rent payable with respect to the First Floor Premises pursuant to the terms of the Lease.
Appears in 1 contract
Samples: Sublease (Viacell Inc)
First Floor Premises. The Lease with respect to the First Floor Premises shall terminate as provided for in the Lease on the FFP Surrender Date. Tenant shall voluntarily surrender the First Floor Premises on or before such date in the condition which Tenant is required to surrender the Premises as Upon mutual execution of the expiration of the Lease. Tenant represents and warrants that since the Commencement Date of the this Lease, the First Floor Premises both Landlord and Tenant acknowledge that Landlord has been used solely for offices purposes, warehousing and shipping and receiving (including the storage of Subtenant’s chemicals in the warehouse space and storage of chemical waste in the chemical waste room located in the First Floor Premises). Notwithstanding anything to the contrary contained herein or in the Lease, so long as the First Floor Premises continues to be used solely for office purposes, warehousing and shipping and receiving through the FFP Surrender Date, Tenant shall not be required to provide Landlord a Surrender Plan with respect to the First Floor Premises in connection with Tenant’s surrender of the First Floor Premises. From and after the FFP Surrender Date, Tenant shall have no further rights or obligations of any kind with respect to the First Floor Premises. Notwithstanding the foregoing, those provisions of the Lease which, by their terms, survive the termination of the Lease shall survive the surrender delivered possession of the First Floor Premises and termination that Tenant currently occupies the First Floor Premises. Additionally, if in the exercise of its First Floor Premises Construction Election Tenant elects to have Landlord construct the Tenant Improvements in the First Floor Premises, then concurrently with the exercise of its First Floor Premises Construction Election, Tenant will deliver to Landlord its plans, including proposed construction drawings, for construction of the Lease with respect to Tenant Improvements in the First Floor Premises as provided (“Tenant’s First Floor Premises Plans”), and in such Tenant’s First Floor Premises Plans will state its desired date for hereincompletion of the Tenant Improvements in the First Floor Premises (the “Desired First Floor Premises Completion Date”). Nothing herein shall excuse Within fifteen (15) days after receipt of Tenant’s First Floor Premises Plans, Landlord will notify Tenant from in writing of its obligations under the Lease estimated construction timeline with respect to Tenant’s First Floor Premises Plans (“Landlord’s First Floor Premises Construction Estimate”). If Landlord’s First Floor Premises Construction Estimate indicates that Landlord will be unable to complete construction of the Tenant Improvements in the First Floor Premises by the Desired First Floor Premises Completion Date, then Tenant will have a second opportunity to exercise its First Floor Premises Construction Election and elect to manage construction of any Tenant Improvements within the First Floor Premises. Alternatively, the parties agree to mutually cooperate to revise the scope of the Tenant Improvements set out in Tenant’s First Floor Premises Plans so as to achieve the Desired First Floor Premises Completion Date. If Tenant elects to have Landlord construct the Tenant Improvements in the First Floor Premises, then the mutually-agreed upon date for substantial completion of the Tenant Improvements in the First Floor Premises, whether or not such date is prior to or after the Desired First Floor Premises Completion Date, shall be reflected in the final Landlord’s First Floor Premises Construction Estimate and is referred to herein as the “Estimated First Floor Premises Completion Date,” and the actual date of substantial completion of the Tenant Improvements in the First Floor Premises by Landlord, whether occurring prior to or after the Estimated First Floor Premises Completion Date is referred to herein as the “First Floor Premises Completion Date.” If in the exercise of its First Floor Premises Construction Election Tenant elects that Landlord will manage the Tenant Improvements in the First Floor Premises, then Landlord shall complete the Tenant Improvements in the First Floor Premises upon and subject to the terms and conditions set forth in the Landlord-Managed Work Letter, and shall use commercially reasonable efforts to complete the Tenant Improvements in the First Floor Premises prior to the FFP Surrender Estimated First Floor Premises Completion Date. Notwithstanding anything to the contrary contained in the Lease, (i) Tenant shall not be required to remove any Tenant Improvements or Alterations from If the First Floor Premises Completion Date has not occurred by the Estimated First Floor Premises Completion Date, subject to Force Majeure Delays and Tenant Delays, then such failure shall not affect the Commencement Date hereunder, but Tenant shall be entitled to the additional remedies set forth below. If, however, in connection with the exercise of its surrender of First Floor Premises Construction Election Tenant elects to manage the Tenant Improvements in the First Floor Premises and all Premises, then Tenant shall construct such Tenant Improvements and Alterations located in the First Floor Premises shall become the Property of Landlord on the Surrender Date, upon and (ii) in addition subject to any such Tenant Improvements and Alterations, all casework, if any, located in the First Floor Premises as of the date of this First Amendment shall also remain in the First Floor Premises and become the Property of Landlord on the Surrender Date. Tenant has informed Landlord that Tenant will be relocating certain of its employees currently located in the First Floor Premises to a portion of Tenant’s premises located within the 901 Gateway Building (as defined below). Tenant shall have the right to extend the term of the Lease with respect to the First Floor Premises for a period of ninety (90) days in order to complete the relocation of its employees. Not later than 90 days after the mutual execution and delivery of this First Amendment by the parties, Tenant shall notify Landlord in writing (“FFP Notice”) whether Tenant elects to extend the term of the Lease with respect to the First Floor Premises for such ninety (90) day period. If Tenant delivers the FFP Notice to Landlord within the time period provided in the immediately preceding sentence, the FFP Surrender Date shall be automatically extended for one (1) additional period of ninety (90) days (“FFP Extension Period”). During the FFP Extension Period, Tenant shall have the right to continue to occupy the First Floor Premises pursuant to all of the terms and conditions of contained in the Lease, as modified by this First Amendment; provided, however, that Tenant-Managed Work Letter and Tenant shall not be required to pay Monthly Base Rent for the First Floor Premises in an amount equal to $55,759.20 per month for each month of the FFP Extension Period, along with all Additional Rent payable with respect entitled to the First Floor Premises pursuant additional remedies set forth in subparagraph (b) below, but shall still be entitled to the terms benefit of the any other provisions of this Lease.
Appears in 1 contract
Samples: Office Lease (Tw Telecom Inc.)