Initial Second Amendment Expansion Premises Sample Clauses
Initial Second Amendment Expansion Premises. Commencing on the Initial Second Expansion Premises Commencement Date through June 30, 2018, Tenant shall pay Base Rent for the Initial Second Amendment Expansion Premises (i) in the amount of $4.11 per rentable square foot per month with respect to approximately 16,362 rentable square feet of the Initial Second Amendment Expansion Premises, and (ii) $1.42 per rentable square foot per month with respect to the remaining approximately 462 rentable square feet of the Initial Second Amendment Expansion Premises. In addition to Base Rent, for the period commencing on the Initial Second Expansion Premises Commencement Date through June 30, 2018 only, Tenant shall continue to pay to Landlord the Additional Rent that would have been payable under the Other Lease in connection with the Additional TI Allowance (as defined in the Other Lease) in the amount of $6,416.48 per month. Commencing on July 1, 2018, Tenant shall commence paying Base Rent with respect to the Initial Second Amendment Expansion Premises in the amount of $4.40 per rentable square foot of the entire Initial Second Amendment Expansion Premises per month through April 30, 2020. Commencing on May 1, 2020, through the Expiration Date, Tenant shall commence paying Base Rent with respect to the entire Initial Second Amendment Expansion Premises at the same rate per rentable square foot per month that Tenant is then paying with respect to the Existing Premises, as adjusted pursuant to Section 5(a) above.
Initial Second Amendment Expansion Premises. The “Initial Second Amendment Expansion Premises Commencement Date” shall be the date that is 1 business day after the mutual execution and delivery of this Second Amendment by the parties. Landlord and Tenant agree that the Other Lease shall terminate at 11:59 p.m. on the day immediately preceding the Initial Second Amendment Expansion Premises Commencement Date as if such date was the expiration date thereof; provided, however that (1) Tenant’s requirement to pay to Landlord the Additional Rent that would have been payable under the Other Lease in connection with the Additional TI Allowance (as defined in the Other Lease) pursuant to Section 5(b) below, and (2) those provisions of the Other Lease which, by their terms survive the termination of the Other Lease shall survive the termination of the Other Lease provided for herein; provided, however, Landlord and Tenant acknowledge and agree that Tenant’s continued occupancy of the Initial Second Amendment Expansion Premises shall be pursuant to the Lease and not as a holdover under the Other Lease and Tenant shall not be required to vacate or surrender the Initial Second Amendment Expansion Premises. Because Tenant will continue to occupy the Initial Second Amendment Expansion Premises under the Lease, Tenant shall not be required to deliver a Surrender Plan under the Other Lease in connection with the expiration of the Other Lease. Upon the request of Landlord, Tenant shall execute and deliver a written acknowledgment of the Initial Second Amendment Expansion Premises Commencement Date in substantially the form of the “Acknowledgement of Commencement Date” attached to the Lease as Exhibit D; provided, however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. For the period of 60 consecutive days after the Initial Second Amendment Expansion Premises Commencement Date, Landlord shall, at its sole cost and expense (which shall not constitute an Operating Expense), be responsible for any repairs that are required to be made to the Building Systems serving the Existing Premises and the Initial Second Amendment Expansion Premises, unless Tenant or any Tenant Party was responsible for the cause of such repair, in which case Tenant shall pay the cost. Except as otherwise set forth in this Second Amendment: (i) Landlord shall have no obligation for any defects in the Initial Second Amendment Expansion Premises; and (iii) Tenant’s occupancy of the Initial Sec...