Lease of Expansion Premises. (a) Commencing as of the date (the “Expansion Date”) that is the later to occur of (i) December 1, 2014, (ii) the Substantial Completion of the Tenant Improvements, as such terms are defined in Exhibit B hereto, and (iii) the date that Landlord shall have delivered the Expansion Premises to Tenant vacant and free of any other possessory rights with the Tenant Improvements Substantially Complete or the date the foregoing would have occurred but for any Tenant Delays, all references in the Original Lease to the “Leased Premises” shall be deemed to refer to both the Original Premises and the Expansion Premises. (b) The parties anticipate the Expansion Date to be on or about December 1, 2014 (the “Estimated Expansion Date”), subject to Force Majeure Delays and Tenant Delays (as such terms are defined in Exhibit B). If, for any reason whatsoever, Landlord has failed to deliver the Expansion Premises to Tenant by the Estimated Expansion Date, then this Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. (c) Landlord will allow Tenant to have access to the Expansion Premises for the fifteen (15) days prior to the Substantial Completion of the Tenant Improvements. The period of time prior to the Expansion Date during which Tenant may have early access and use of the Expansion Premises under this Section 3(c) shall be referred to herein as the “Early Access Period.” Tenant agrees that it shall not in any way interfere with the progress of the Tenant Improvements by such access. Should such access prove an impediment to the progress of the Tenant Improvements, in Landlord’s judgment, then Landlord may demand that Tenant forthwith vacate the Expansion Premises until such time as the Tenant Improvements are complete, and Tenant shall immediately comply with this demand. During the Early Access Period, Tenant shall comply with all terms and conditions of the Lease, except that no Minimum Monthly Rent shall be payable for the Expansion Premises during such period. As a condition to entering the Expansion Premises during the Early Access Period, Tenant shall provide Landlord with certificates of insurance that Tenant is required to provide Landlord during the Term of the Lease. (d) Promptly following the Expansion Date, Landlord and Tenant shall execute an Expansion Date Memorandum in the form attached hereto as Exhibit C, wherein the parties shall acknowledge the Expansion Date.
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Samples: Lease, Lease (Puma Biotechnology, Inc.)
Lease of Expansion Premises. (a) Commencing as of Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Expansion Premises for a Term commencing on the date (the “Expansion Premises Commencement Date”) that on which Landlord delivers the Expansion Premises to Tenant in the Delivery Condition and expiring on the Expiration Date, unless earlier terminated or extended, in accordance with the terms of the Lease. The lease and use of the Expansion Premises shall be upon and subject to all of the other terms and conditions of the Existing Lease, except as expressly set forth in this Amendment. The Expansion Premises Commencement Date is anticipated to occur on April 13, 2020 (the later “Estimated Expansion Premises Commencement Date”). The “Expansion Premises Rent Commencement Date” shall mean the earlier to occur of (i) December 1the date on which Tenant has completed Tenant’s Expansion Premises Work (as hereinafter defined), 2014, or (ii) the Substantial Completion of the Tenant Improvements, as such terms are defined in Exhibit B hereto, and (iii) the date that Landlord shall have delivered is four (4) months after the Expansion Premises to Tenant vacant Commencement Date. From and free of any other possessory rights with after the Tenant Improvements Substantially Complete or the date the foregoing would have occurred but for any Tenant DelaysExpansion Premises Commencement Date, all references except as expressly set forth herein, (v) each reference contained in the Original Existing Lease to the “Leased Premises” shall be deemed considered to refer be a reference to both the Original Existing Premises and the Expansion Premises.
, collectively, (bw) The parties anticipate each reference contained in the Existing Lease to the “Prime Premises” shall be considered to be a reference to the existing Prime Premises and the Expansion Date Prime Premises, collectively, (x) each reference contained in the Existing Lease to the “Generator Premises”, shall be considered to be on or about December 1a reference to the existing Generator Premises and the Expansion Generator Premises, 2014 collectively, (y) each reference contained in the Existing Lease to the “Estimated Expansion DateRooftop Premises”), subject shall be considered to Force Majeure Delays be a reference to the existing Rooftop Premises and Tenant Delays (as such terms are defined in Exhibit B). If, for any reason whatsoever, Landlord has failed to deliver the Expansion Premises to Tenant by Rooftop Premises, collectively, and (z) each reference contained in the Estimated Expansion Date, then this Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom.
(c) Landlord will allow Tenant to have access Existing Lease to the Expansion Premises for the fifteen (15) days prior “Gasses/Tank Premises”, shall be considered to be a reference to the Substantial Completion of the Tenant Improvements. The period of time prior to existing Gasses/Tank Premises and the Expansion Date during which Tenant may have early access and use of the Expansion Premises under this Section 3(c) shall be referred to herein as the “Early Access PeriodGasses/Tank Premises, collectively.” Tenant agrees that it shall not in any way interfere with the progress of the Tenant Improvements by such access. Should such access prove an impediment to the progress of the Tenant Improvements, in Landlord’s judgment, then Landlord may demand that Tenant forthwith vacate the Expansion Premises until such time as the Tenant Improvements are complete, and Tenant shall immediately comply with this demand. During the Early Access Period, Tenant shall comply with all terms and conditions of the Lease, except that no Minimum Monthly Rent shall be payable for the Expansion Premises during such period. As a condition to entering the Expansion Premises during the Early Access Period, Tenant shall provide Landlord with certificates of insurance that Tenant is required to provide Landlord during the Term of the Lease.
(d) Promptly following the Expansion Date, Landlord and Tenant shall execute an Expansion Date Memorandum in the form attached hereto as Exhibit C, wherein the parties shall acknowledge the Expansion Date.
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Samples: Lease (Ziopharm Oncology Inc)
Lease of Expansion Premises. (a) Commencing as of the date (the “Expansion Date”) that is the later to occur of (i) December 1, 2014, (ii) the Substantial Completion of the Tenant Improvements, as such terms are defined in Exhibit B hereto, and (iii) the date that Landlord shall have delivered Effective on the Expansion Premises to Tenant vacant and free of any other possessory rights with Commencement Date (as defined below), the Tenant Improvements Substantially Complete or the date the foregoing would have occurred but for any Tenant Delays, all references “Premises” as such term is used in the Original Lease to Lease, shall include the “Leased Premises” shall be deemed to refer to both the Original Existing Premises and the Expansion Premises.
Premises (btotaling an aggregate of 36,380 rentable square feet) The parties anticipate the Expansion Date to be as shown on or about December 1, 2014 (the “Estimated Expansion Date”), subject to Force Majeure Delays Exhibit A attached hereto. From and Tenant Delays (as such terms are defined in Exhibit B). If, for any reason whatsoever, Landlord has failed to deliver after the Expansion Premises to Tenant by Commencement Date and through and including the Estimated Expansion DateExtended Expiration Date (as hereinafter defined), then this Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom.
(c) Landlord will allow Tenant to have access to the Expansion Premises shall be considered part of the Premises and all references to the Premises shall be and be deemed to include the Expansion Premises. Tenant shall take possession of the entire Expansion Premises as of the Expansion Premises Commencement Date, provided, however Tenant shall commence paying Base Rent for 11,494 rentable square feet of the Expansion Premises commencing on the Expansion Premises Commencement Date and shall commence paying Base Rent on the remaining 11,493 rentable square feet of the Expansion Premises on the date that is fifteen (15) days prior to the Substantial Completion of the Tenant Improvements. The period of time prior to the Expansion Date during which Tenant may have early access and use of months following the Expansion Premises under this Commencement Date in accordance with the Base Rent Schedule set forth in Section 3(c) 4.02 hereof. The Expansion Premises shall be referred subject to herein as the “Early Access Period.” Tenant agrees that it shall not in any way interfere with the progress all of the Tenant Improvements by such access. Should such access prove an impediment to the progress of the Tenant Improvements, in Landlord’s judgment, then Landlord may demand that Tenant forthwith vacate the Expansion Premises until such time as the Tenant Improvements are complete, and Tenant shall immediately comply with this demand. During the Early Access Period, Tenant shall comply with all terms and conditions of the Lease, Lease except as expressly set forth herein and except that no Minimum Monthly Tenant shall not be entitled to receive any fit-up allowances, initial Base Rent shall be payable for abatements or other financial concessions with respect to the Expansion Premises during (even if such period. As a condition allowances, abatements or concessions were granted in connection with the Existing Premises) unless such concessions are expressly provided for in this Amendment with respect to entering the Expansion Premises during the Early Access Period, Tenant shall provide Landlord with certificates of insurance that Tenant is required to provide Landlord during the Term of the LeasePremises.
(d) Promptly following the Expansion Date, Landlord and Tenant shall execute an Expansion Date Memorandum in the form attached hereto as Exhibit C, wherein the parties shall acknowledge the Expansion Date.
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Lease of Expansion Premises. (a) Commencing Effective as of the later date to occur of (i) April 1, 2013 (the “Expansion Target Phase I Delivery Date”), and (ii) that subject to adjustment, if applicable, pursuant to Section 3.3(f) of this Fourth Amendment, the date Landlord delivers possession of the Phase I Expansion Premises to Tenant vacant, broom clean, free of all occupants, personal property, trash and debris, and otherwise in its as is condition (the “Phase I Expansion Premises Commencement Date”), the Phase I Expansion Premises shall constitute a Premises Component and a part of the Premises demised to Tenant under the Lease for a term coterminous with the Lease Term. Except as otherwise expressly provided herein, Tenant’s lease of the Phase I Expansion Premises shall be on all of the terms and conditions of the Lease, as amended by this Fourth Amendment. As of the Phase I Expansion Premises Commencement Date, all references in the Lease to the “Premises” and/or the premises demised by the Lease shall mean the Existing Premises and the Phase I Expansion Premises, collectively, and containing 158,567 square feet of rentable floor area in the Building. Subject to delays arising from Force Majeure, Landlord shall use reasonable efforts to deliver possession of the Phase I Expansion Premises to Tenant on or before the Target Phase I Delivery Date, provided, however, the failure of the Phase I Expansion Premises Commencement Date to occur on or before the Target Phase I Delivery Date shall in no way affect the validity of this Fourth Amendment or the obligations of Tenant hereunder and, except to the extent set forth in Sections 3(e) or Section 3(f) below, Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, by reason thereof.
(b) Effective as of the later date to occur of (i) December 1, 20142013 (the “Target Phase II Delivery Date”), and (ii) subject to adjustment, if applicable, pursuant to Section 3(f) of this Fourth Amendment, the Substantial Completion date Landlord delivers possession of the Tenant Improvements, as such terms are defined in Exhibit B hereto, and (iii) the date that Landlord shall have delivered the Phase II Expansion Premises to Tenant vacant and vacant, broom clean, free of any other possessory rights with the Tenant Improvements Substantially Complete or the date the foregoing would have occurred but for any Tenant Delaysall occupants, all references personal property, trash and debris, and otherwise in the Original Lease to the “Leased Premises” shall be deemed to refer to both the Original Premises and the Expansion Premises.
(b) The parties anticipate the Expansion Date to be on or about December 1, 2014 its as is condition (the “Estimated Phase II Expansion Premises Commencement Date”), subject to Force Majeure Delays and Tenant Delays (as such terms are defined in Exhibit B). If, for any reason whatsoever, Landlord has failed to deliver the Phase II Expansion Premises shall constitute a Premises Component and a part of the Premises demised to Tenant by under the Estimated Expansion DateLease for a term coterminous with the Lease Term. Except as otherwise expressly provided herein, then this Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom.
(c) Landlord will allow Tenant to have access to Tenant’s lease of the Phase II Expansion Premises for the fifteen (15) days prior to the Substantial Completion shall be on all of the Tenant Improvements. The period of time prior to the Expansion Date during which Tenant may have early access and use of the Expansion Premises under this Section 3(c) shall be referred to herein as the “Early Access Period.” Tenant agrees that it shall not in any way interfere with the progress of the Tenant Improvements by such access. Should such access prove an impediment to the progress of the Tenant Improvements, in Landlord’s judgment, then Landlord may demand that Tenant forthwith vacate the Expansion Premises until such time as the Tenant Improvements are complete, and Tenant shall immediately comply with this demand. During the Early Access Period, Tenant shall comply with all terms and conditions of the Lease, except that no Minimum Monthly Rent shall be payable for as amended by this Fourth Amendment. As of the Phase II Expansion Premises during such period. As a condition Commencement Date, all references in the Lease to entering the “Premises” and/or the premises demised by the Lease shall mean the Existing Premises, the Phase I Expansion Premises during and the Early Access PeriodPhase II Expansion Premises, collectively, and containing 189,956 square feet of rentable floor area in the Building. Subject to delays arising from Force Majeure, Landlord shall use reasonable efforts to deliver possession of the Phase II Expansion Premises on or before the Target Phase II Delivery Date, provided, however, the failure of the Phase II Expansion Premises Commencement Date to occur on or before the Target Phase II Delivery Date shall in no way affect the validity of this Fourth Amendment or the obligations of Tenant hereunder and, except to the extent set forth in Sections 3(e) or 3(f) below, Tenant shall provide not have any claim against Landlord, and Landlord shall have no liability to Tenant, by reason thereof.
(c) Effective as of the later date to occur of (i) January 1, 2015 (the “Target Phase III Delivery Date”), and (ii) subject to adjustment, if applicable, pursuant to Section 3(f) of this Fourth Amendment, the date Landlord delivers possession of the Phase III Expansion Premises to Tenant vacant, broom clean, free of all occupants, personal property, trash and debris, and otherwise in its as is condition (the “Phase III Expansion Premises Commencement Date”), the Phase III Expansion Premises shall constitute a Premises Component and a part of the Premises demised to Tenant under the Lease for a term coterminous with certificates the Lease Term. Except as otherwise expressly provided herein, Tenant’s lease of insurance that Tenant is required to provide Landlord during the Term Phase III Expansion Premises shall be on all of the terms and conditions of the Lease, as amended by this Fourth Amendment. As of the Phase III Expansion Premises Commencement Date, all references in the Lease to the “Premises” and/or the premises demised by the Lease shall mean the Existing Premises, the Phase I Expansion Premises, the Phase II Expansion Premises and the Phase III Expansion Premises, collectively, and containing 221,993 square feet of rentable floor area in the Building. Subject to delays arising from Force Majeure, Landlord shall use reasonable efforts to deliver possession of the Phase III Expansion Premises on or before the Target Phase III Delivery Date, provided, however, the failure of the Phase III Expansion Premises Commencement Date to occur on or before the Target Phase III Delivery Date shall in no way affect the validity of this Fourth Amendment or the obligations of Tenant hereunder and, except to the extent set forth in Sections 3(e) or 3(f) below or Exhibit F of this Fourth Amendment, Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, by reason thereof.
(d) Promptly following Effective as of the later date to occur of (i) November 1, 2015 (the “Target Phase IV Delivery Date”), and (ii) subject to adjustment, if applicable, pursuant to Section 3(f) of this Fourth Amendment, the date Landlord delivers possession of the Phase IV Expansion Premises to Tenant vacant, broom clean, free of all occupants, personal property, trash and debris, and otherwise in its as is condition (the “Phase IV Expansion Premises Commencement Date”), the Phase IV Expansion Premises shall constitute a Premises Component and a part of the Premises demised to Tenant under the Lease for a term coterminous with the Lease Term. Except as otherwise expressly provided herein, Tenant’s lease of the Phase IV Expansion Premises shall be on all of the terms and conditions of the Lease, as amended by this Fourth Amendment. As of the Phase IV Expansion Premises Commencement Date, all references in the Lease to the “Premises” and/or the premises demised by the Lease shall mean the Existing Premises, the Phase I Expansion Premises, the Phase II Expansion Premises, the Phase III Expansion Premises and the Phase IV Expansion Premises, collectively, and containing 251,326 square feet of rentable floor area in the Building. Subject to delays arising from Force Majeure, Landlord shall use reasonable efforts to deliver possession of the Phase IV Expansion Premises on or before the Target Phase IV Delivery Date, provided, however, the failure of the Phase IV Expansion Premises Commencement Date to occur on or before the Target Phase IV Delivery Date shall in no way affect the validity of this Fourth Amendment or the obligations of Tenant hereunder and, except to the extent set forth in Sections 3(e) or Section 3(f) below or Exhibit F of this Fourth Amendment, Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, by reason thereof.
(e) Tenant’s remedies for Landlord’s failure to timely deliver portions of the Expansion DatePremises are set forth in this Section 3(e), Section 3(f) below and Exhibit F attached hereto. If the then occupant of any Premises Component of the Expansion Premises wrongfully fails to deliver possession of such premises at the time when its tenancy is scheduled to expire or earlier terminate pursuant to any agreement with Landlord or otherwise pursuant to Landlord’s exercise of its rights under such occupant’s lease (including relocation rights), Landlord shall use reasonable efforts and Tenant due diligence (which shall execute be limited to the commencement and prosecution of an eviction proceeding within thirty (30) days after the date on which the hold-over commences, but shall not require the taking of any appeal) to evict such occupant from such space and to recover from such occupant any Expansion Date Memorandum Premises Hold-Over Premium (as defined below) payable by such occupant. In such event, the commencement of the term of Tenant’s occupancy and lease of such Premises Component shall, in the form attached hereto as Exhibit Cevent of such holding over by such occupant, wherein be deferred until possession of the parties shall acknowledge applicable Premises Component of the Expansion DatePremises is delivered to Tenant. The failure of the then occupant of such premises to so vacate shall not constitute a default or breach by Landlord and shall not give Tenant any right to terminate this Fourth Amendment or to deduct from, offset against or withhold Annual Fixed Rent or Additional Rent (or any portions thereof); provided, however, that Tenant’s sole remedy with respect to any deferred delivery of possession of any Premises Component on account of a holding over by the occupant thereof shall be to require Landlord to pay to Tenant fifty percent (50%) of the net (i.e. net of the costs and expenses, including, attorneys’ fees, incurred by Landlord in obtaining such Expansion Premises Hold-Over Premium) amount of any Expansion Premises Hold-Over Premium received by Landlord from such hold-over occupant relative to periods from and after the thirty-first (31st) day of any hold-over, when and if Landlord receives any such payment. For the purposes hereof, the term “Expansion Premises Hold-Over Premium” shall be defined as the amount (if any) which a hold-over occupant of any portion of the Expansion Premises is required to pay to Landlord in respect of its hold-over in the premises (whether characterized as rent, damages, or use and occupation) in excess of the amount of fixed rent and other charges which the tenant under whom such occupant claims would have been required to pay to Landlord had the term of such tenant’s lease been extended throughout the period of such hold-over at the same rental rate as such tenant was required to pay during the last month of its tenancy. Notwithstanding anything to the contrary in Exhibit F of this Fourth Amendment, if at any time Landlord’s failure to timely deliver possession of any Premises Component on the applicable target delivery date therefor is or, if not initially the result of it subsequently becomes, the result of the holding over of the occupant of the applicable Premises Component, Tenant’s remedies shall be limited to its remedies set forth in this Section 3(e), Section 3(f) below and any remedies set forth in Exhibit F of this Fourth Amendment shall cease and be of no further force and effect.
Appears in 1 contract
Samples: Lease (Constant Contact, Inc.)
Lease of Expansion Premises. (a) Commencing as of Landlord hereby demises and leases to Tenant and Tenant hereby leases from Landlord, the date Expansion Premises commencing on January 1, 2022 (the “Expansion Premises Commencement Date”) that is ), and expiring coterminous with the later to occur of Lease Term for the Existing Premises (i) December 1i.e. December, 201431, (ii) 2036), as the Substantial Completion same may be extended or earlier terminated in accordance with the terms of the Tenant Improvements, as such terms are defined in Exhibit B hereto, and (iii) the date that Landlord shall have delivered the Expansion Premises to Tenant vacant and free of any other possessory rights with the Tenant Improvements Substantially Complete or the date the foregoing would have occurred but for any Tenant Delays, all references in the Original Lease to the “Leased Premises” shall be deemed to refer to both the Original Premises and the Expansion PremisesLease.
(b) The parties anticipate the Expansion Date to be on or about December 1, 2014 (the “Estimated Expansion Date”), subject to Force Majeure Delays and Tenant Delays (as such terms are defined in Exhibit B). If, for any reason whatsoever, Landlord has failed to deliver the Expansion Premises to Tenant by the Estimated Expansion Date, then this Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom.
(c) Landlord will allow Tenant to have access to the Expansion Premises for the fifteen (15) days prior to the Substantial Completion of the Tenant Improvements. The period of time prior to the Expansion Date during which Tenant may have early access and use Tenant’s lease of the Expansion Premises under this Section 3(c) shall be referred to herein as the “Early Access Period.” Tenant agrees that it shall not in any way interfere with the progress on all of the Tenant Improvements by such access. Should such access prove an impediment to the progress of the Tenant Improvements, in Landlord’s judgment, then Landlord may demand that Tenant forthwith vacate the Expansion Premises until such time as the Tenant Improvements are complete, and Tenant shall immediately comply with this demand. During the Early Access Period, Tenant shall comply with all same terms and conditions of the Lease, except as expressly modified or amended by the terms of this Second Amendment. The Expansion Premises are being leased by Tenant in its AS-IS condition as of the Expansion Premises Commencement Date, WITHOUT REPRESENTATION OR WARRANTY by Landlord, and Tenant understands and agrees that, except as otherwise expressly set forth on Exhibit “B” attached hereto (the “Work Letter”), Landlord shall not be required to perform or pay for any work, supply any materials, incur any expense or to pay or provide any allowance or contribution in connection with preparing the Expansion Premises for Tenant’s occupancy, including, without limitation the allowances or contributions that no Minimum Monthly Rent Landlord previously paid to Tenant under the Lease with respect to the Existing Premises.
(c) From and after the Expansion Premises Commencement Date, the Expansion Premises shall constitute a part of the “Premises” demised to Tenant under the Lease, and the Premises will thereafter include both the Existing Premises and the Expansion Premises, and contain 105,334 rentable square feet. Promptly following execution of this Second Amendment, Landlord and Tenant agree to execute a written notice of Term Dates and Tenant’s Proportionate Share in substantially the form attached as Exhibit “C” to the Original Lease (“the Commencement Letter”) to confirm, among other details with respect to the Expansion Premises, the Expansion Premises Commencement Date. If Tenant shall fail to execute such Commencement Letter within five (5) business days of receipt thereof, the Expansion Premises Commencement Date shall be payable as specified by Landlord in such Commencement Letter.
(d) Beginning upon execution and delivery of this Second Amendment by Tenant and Landlord until the Expansion Premises Commencement Date (the “Early Access Period”), Tenant will have the right to access the Expansion Premises in order to design and construct the Expansion Premises Improvements (as defined in the Work Letter attached hereto as Exhibit “B”). Such early access shall be subject to all the provisions of the Lease (with specific reference to Tenant's insurance and indemnity obligations thereunder and Tenant's obligation to pay separately for electricity service to the Expansion Premises, except that Tenant's obligation to pay monthly Basic Rental and any Direct Costs for the Expansion Premises during such period. As a condition to entering the Expansion Premises shall not apply during the Early Access Period, . Tenant shall provide Landlord perform the Expansion Premises Improvements to the Expansion Premises in accordance with certificates the terms and conditions of insurance that Tenant is required to provide Landlord during Exhibit “B” attached hereto and the Term provisions of the Lease.
(d) Promptly following Lease applicable to alterations. Exhibit “D” to the Original Lease shall not be applicable to the Expansion Date, Landlord and Tenant shall execute an Expansion Date Memorandum in the form attached hereto as Exhibit C, wherein the parties shall acknowledge Premises or the Expansion DatePremises Improvements.
Appears in 1 contract
Samples: Lease Agreement (Oncorus, Inc.)
Lease of Expansion Premises. (a) Commencing as of the date (the “Expansion Date”) that is the later Landlord leases to occur of (i) December 1, 2014, (ii) the Substantial Completion of the Tenant Improvements, as such terms are defined in Exhibit B hereto, and (iii) the date that Tenant leases from Landlord shall have delivered the Expansion Premises to Tenant vacant under the terms and free of any other possessory rights with the Tenant Improvements Substantially Complete or the date the foregoing would have occurred but for any Tenant Delays, all references conditions set forth in the Original Lease to the “Leased Premises” as specifically modified by this Second Amendment. Landlord shall be deemed to refer to both the Original Premises and the Expansion Premises.
(b) The parties anticipate the Expansion Date to be on or about December 1, 2014 (the “Estimated Expansion Date”), subject to Force Majeure Delays and Tenant Delays (as such terms are defined in Exhibit B). If, for any reason whatsoever, Landlord has failed endeavor to deliver the Expansion Premises to Tenant (the “Delivery Date”) on or before October 1, 2020; however, Landlord’s failure to deliver the Expansion Premises on or before such date shall not subject Landlord to any liability therefor, nor shall such failure affect the validity of this Lease or, except as provided below, change the Lease Expiration Date. If, despite said efforts, Landlord is unable to deliver possession by the Estimated Expansion DateRent Commencement Date (as defined below), then this Amendment Tenant shall not be void or voidable, nor shall Landlord be liable obligated to Tenant for any loss or damage resulting therefrom.
(c) Landlord will allow Tenant to have access pay Rent with respect to the Expansion Premises for the fifteen (15) days prior to the Substantial Completion of the Tenant Improvements. The period of time prior to the Expansion Date during which Tenant may have early access and use until Landlord delivers possession of the Expansion Premises. If Landlord is unable to deliver possession by October 30, 2020, then Tenant may elect to void this Second Amendment by providing Landlord with written notice of such election at any time on or before November 13, 2020. In the event that Tenant elects to void this Second Amendment in accordance with the terms of this paragraph, then upon Landlord’s receipt of Tenant’s notice of such election, the expansion of the Premises under and all other modifications of the Original Lease as set forth in this Section 3(c) Second Amendment, shall be referred void, Landlord shall immediately return to herein Tenant the Increased Deposit (as the “Early Access Period.” Tenant agrees that it shall not defined in any way interfere with the progress Paragraph 2.5 of the Tenant Improvements by such access. Should such access prove an impediment to the progress of the Tenant Improvements, in Landlord’s judgment, then Landlord may demand that Tenant forthwith vacate the Expansion Premises until such time as the Tenant Improvements are completethis Second Amendment), and Tenant the Original Lease shall immediately comply with this demandcontinue in full force and effect. During the Early Access Period, Tenant shall comply with all terms and conditions of the Lease, except that no Minimum Monthly Rent shall be payable for the Expansion Premises during such period. As a condition to entering the Expansion Premises during the Early Access Period, Tenant shall provide Landlord with certificates updated proof of insurance that Tenant is required covering both the Original Premises and Expansion Premises on or before the Delivery Date as a condition to provide Landlord during the Term of the Lease.
(d) Promptly following delivering the Expansion DatePremises to Tenant, Landlord and Tenant the failure of which shall execute an Expansion Date Memorandum in the form attached hereto as Exhibit C, wherein the parties shall acknowledge not extend the Expansion DateRent Commencement Date or excuse Tenant’s obligation to pay Rent.
Appears in 1 contract
