Common use of Lease Period Clause in Contracts

Lease Period. 2.2.1 The LEASE is hereby granted in favour of the Lessee for a total period of 2.2.2 At the end of the Lease Period or sooner determination of this Agreement for any reason whatsoever all rights given under this Lease Agreement shall cease to have effect and the Leased Area with all the furniture and fixtures and other assets permanently attached to the Leased Area shall revert to DMRC without any obligation on part of DMRC to pay or adjust any consideration or other payment to the Lessee. The Lessee voluntarily gives DMRC the right to seal the said Leased Space(s) and remarket the same as part on its discretion upon Termination of this Agreement. No claim, compensation or damages will be entertained by DMRC on this account . 2.3 Restriction on sub-leasing the use of the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium Period, the Lessee shall be entitled to allow the use of the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject to the terms and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination of the Sub-Lessees rights and further that the Sub-Lessee shall not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to further sub-sub-lease the use of the Leased Space(s). 2.3.7 Subject to Clause 1.4 of this Agreement, the terms and conditions of RFP shall also be deemed to be a part of this Lease Agreement.

Appears in 5 contracts

Sources: Lease Agreement, Lease Agreement, Lease Agreement

Lease Period. 2.2.1 a. The LEASE is hereby granted in favour of the Lessee Licensee for a total period ofof 30 (Thirty) years from the Commencement Date subject to unless otherwise terminated by Maha-Metro or surrendered by the successful bidder, in term of provisions of License Agreement. 2.2.2 b. The tenure of License Agreement shall commence from the date of handing over of the property business space. c. Tenure of the License Period of any additional space handed over subsequently shall be co- terminus with above period irrespective of date of actual handing over for such additional space. d. There shall be a lock in period of five (5) years from the date of commencement of agreement/ handing over of licensed space. e. The Successful bidder shall have option to exit from the License Agreement immediately after completion of lock in period of 5 (five) years. For it, the Successful bidder shall have to issue 180 days prior notice to MAHA-METRO. Such prior notice intimation can be given after four and half (4 ½) years however option to exit will be available only after five (5) years. The exit clause shall be as per provisions of clause ……. f. At no time during the license tenure, the Licensee shall be allowed to surrender partial Licensed Space which has been handed over to the Licensee by Maha-Metro. g. At the end of License period or in the event of termination of this agreement prior to completion of license tenure, for any reason whatsoever, all rights given under this License Agreement shall cease to have effect and the premises shall revert to Maha-Metro, without any obligation to Maha-Metro to pay or adjust any consideration or other payment to the Licensee. h. The tenure shall be inclusive of fitment period as applicable for the tendered space. i. On completion/ termination of License Agreement, the Licensee shall hand over the space with normal wear & tear. The Licensee shall be allowed to remove its assets like temporary structure, furniture, almirahs, air-conditioners, DG sets, equipments, etc. without causing damage to the existing structure. However, the Licensee shall not be allowed to remove any facility, equipment, fixture, etc. which has become an integral part of the development plan of the space. j. At the end of the Lease License Period or sooner determination of this Agreement for any reason whatsoever all rights given under this Lease License Agreement shall cease to have effect and the Leased Licensed Area with all the furniture and fixtures and other assets permanently attached to the Leased Licensed Area shall revert to DMRC Maha-Metro without any obligation on part of DMRC Maha-Metro to pay or adjust any consideration or other payment to the LesseeLicensee. The Lessee Licensee voluntarily gives DMRC Maha-Metro the right to seal the said Leased Licensed Space(s) and remarket the same as part on its discretion upon Termination of this Agreement. No claim, compensation or damages will be entertained by DMRC Maha-Metro on this account account. 2.3 Restriction on sub-leasing the use of the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium Period, the Lessee shall be entitled to allow the use of the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject to the terms and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination of the Sub-Lessees rights and further that the Sub-Lessee shall not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to further sub-sub-lease the use of the Leased Space(s). 2.3.7 Subject to Clause 1.4 of this Agreement, the terms and conditions of RFP shall also be deemed to be a part of this Lease Agreement.

Appears in 2 contracts

Sources: License Agreement, License Agreement

Lease Period. 2.2.1 3.1. The LEASE is hereby granted Lease shall be for the period as stated in favour Clause C of the Lessee Schedule. 3.2. The LESSEE shall be allowed access to the PREMISES for purposes of attending to shopfitting and related matters for a total period of 2.2.2 At of days prior to the end commencement date, the Beneficial Occupation Period, as stated in Clause D of the Lease Period schedule, but the LESSOR shall have the right to determine the time and manner of such access. The LESSEE shall not inconvenience the contractor or sooner determination of this Agreement cause any delay to building works. 3.3. If for any reason whatsoever all rights given under this Lease Agreement the LESSOR shall cease be unable to have effect and make the Leased Area with all the furniture and fixtures and other assets permanently attached PREMISES available to the Leased Area LESSEE on the beneficial occupation date the LESSEE shall revert nevertheless be bound and hereby undertakes to DMRC without any obligation on part of DMRC to pay or adjust any consideration or other payment to accept occupation upon such later date as the Lessee. The Lessee voluntarily gives DMRC LESSOR may advise the right to seal LESSEE in writing that the said Leased Space(s) and remarket the same as part on its discretion upon Termination of this Agreement. No claim, compensation or damages will be entertained by DMRC on this account . 2.3 Restriction on sub-leasing the use of the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium Period, the Lessee PREMISES shall be entitled to allow available for such occupation. In the use event of such a delay the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject to the terms and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination period of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant remain and the date of Termination commencement and termination of the Sub-Lessees rights and further that the Sub-Lessee Lease shall not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreementextended accordingly. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee LESSEE shall not be entitled to further sub-sub-lease the use claim damages or cancellation of the Leased Space(s)Lease by reason of the delay in obtaining such occupation and commencement. 2.3.7 Subject 3.4. If in the LESSOR'S sole opinion the LESSEE is unlikely to Clause 1.4 complete the signage, shopfronts, decor and any other works so that the PREMISES shall be complete and ready for trading within fourteen (14) calendar days calculated from the commencement date, then the LESSOR shall be entitled to execute such works on behalf of this Agreementthe LESSEE as it may deem fit and charge the LESSEE the cost thereof plus 20% (twenty percent) together with consultant's fees on a time basis, as shall be certified by the terms LESSOR'S Architect, which shall be accepted by the LESSEE as being correct and conditions of RFP the LESSEE shall also be deemed to be a part of this Lease Agreementthereupon accept the PREMISES as provided by the LESSOR.

Appears in 1 contract

Sources: Lease Agreement

Lease Period. 2.2.1 6.3.1 The LEASE is hereby granted in favour of the Lessee for a total period of 2.2.2 At the end term of the Lease Period or sooner determination of this Agreement for any reason whatsoever all rights given under this Lease Agreement (hereinafter "LEASE PERIOD") shall cease to have effect and be counted from inclusively the day the Leased Area with all Part is delivered Free Carrier (FCA) up to inclusively the furniture and fixtures and day of receipt of the Leased Part back at the Lessor or at any other assets permanently attached address indicated by the Lessor. 6.3.2 If a Leased Part is not returned by the Lessee within [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT], the Lease will be converted into a sale. Should the Lessee not return the Leased Part to the Leased Area shall revert to DMRC without any obligation on part of DMRC to pay or adjust any consideration or other payment Lessor within [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT] and if the Lessor so elects, by giving prompt written notice to the Lessee. The , such non return shall be deemed to be an election by the Lessee voluntarily gives DMRC the right to seal the said Leased Space(s) and remarket the same as part on its discretion upon Termination of this Agreement. No claim, compensation or damages will be entertained by DMRC on this account . 2.3 Restriction on sub-leasing the use of purchase the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium PeriodPart and, upon the happening of such event, the Lessee shall be entitled pay the Lessor all amounts due under Clauses 6.4 and 6.8 for the Leased Part for the Lease Period of [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT] 6.3.3 Notwithstanding the foregoing, the Lease Period shall end in the event of, and upon the date that, the Lessee acquiring title to allow a Leased Part as a result of exercise of the use Lessee's option to purchase the Leased Part, as provided for herein. 6.3.4 The chargeable period to lease a part is a minimum of [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT]. If the shipment of the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject to the terms and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination of the Sub-Lessees rights and further that the Sub-Lessee shall Part has been arranged but not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC yet despatched and the Lessee shall not incorporate or change cancels the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenantslease order, the prior written consent minimum chargeable period of DMRC [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT] shall be taken before entering into any such agreement with a Sub- Lesseeapply. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to further sub-sub-lease the use of the Leased Space(s). 2.3.7 Subject to Clause 1.4 of this Agreement, the terms and conditions of RFP shall also be deemed to be a part of this Lease Agreement.

Appears in 1 contract

Sources: Purchase Agreement (KLM Royal Dutch Airlines)

Lease Period. 2.2.1 The LEASE is hereby granted in favour of the Lessee for a total period ofof 15 (Fifteen) years from the Commencement Date subject to sooner determination of the Lease by the Lesser in its sole discretion at any point of time or Termination hereof. 2.2.2 At the end of the Lease Period or sooner determination of this Agreement for any reason whatsoever all rights given under this Lease Agreement shall cease to have effect and the Leased Area with all the furniture and fixtures and other assets permanently attached to the Leased Area shall revert to DMRC without any obligation on part of DMRC to pay or adjust any consideration or other payment to the Lessee. The Lessee voluntarily gives DMRC the right to seal the said Leased Space(s) and remarket the same as part on its discretion upon Termination of this Agreement. No claim, compensation or damages will be entertained by DMRC on this account . 2.3 Restriction on sub-leasing the use of the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium Period, the Lessee shall be entitled to allow the use of the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject to the terms and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination of the Sub-Lessees rights and further that the Sub-Lessee shall not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Sub-Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Sub-Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to further sub-sub-lease the use of the Leased Space(s). 2.3.7 Subject to Clause 1.4 of this Agreement, the terms and conditions of RFP shall also be deemed to be a part of this Lease Agreement.

Appears in 1 contract

Sources: Lease Agreement

Lease Period. 2.2.1 The LEASE is hereby granted in favour of the Lessee for a total period ofof 15 (fifteen) years from the Commencement Date subject to sooner determination of the Lease by the Lesser in its sole discretion at any point of time or Termination hereof. 2.2.2 At the end of the Lease Period or sooner determination of this Agreement for any reason whatsoever all rights given under this Lease Agreement shall cease to have effect and the Leased Area with all the furniture and fixtures and other assets permanently attached to the Leased Area shall revert to DMRC without any obligation on part of DMRC to pay or adjust any consideration or other payment to the Lessee. The Lessee voluntarily gives DMRC the right to seal the said Leased Space(s) and remarket the same as part on its discretion upon Termination of this Agreement. No claim, compensation or damages will be entertained by DMRC on this account . 2.3 Restriction on sub-leasing the use of the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium Period, the Lessee shall be entitled to allow the use of the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject to the terms and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination of the Sub-Lessees rights and further that the Sub-Sub- Lessee shall not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to further sub-sub-lease the use of the Leased Space(s). 2.3.7 Subject to Clause 1.4 of this Agreement, the terms and conditions of RFP ‘Policy Document’ shall also be deemed to be a part of this Lease Agreement.

Appears in 1 contract

Sources: Lease Agreement

Lease Period. 2.2.1 The LEASE is hereby granted in favour of the Lessee This Agreement has been concluded for a total period of 2.2.2 At the end of the Lease Period. The Lease Period or sooner determination commences on [•] (the „Commencement Date”) and terminates on [•], unless it has been terminated earlier in accordance with the provisions of this Agreement for any reason whatsoever all rights given under this Lease Agreement or postponed in accordance with the delay of the Delivery Date (the „Termination Date”). Subject to Clause 6.3.4. below, on the Termination Date, the Lessee shall cease to have effect leave the Premises and the Leased Area with all the furniture Parking Spaces, and fixtures and other assets permanently attached deliver them to the Leased Area Lessor in the same condition in which they were delivered to the Lessee on the Delivery Date, taking into account normal wear and tear, unless the Parties have agreed otherwise. On the Termination Date, the Lessee shall revert also return to DMRC without any obligation the Lessor all means of access to the Premises and the Parking Spaces. If the Lessee does not return to the Lessor the means of access to the Premises and the Parking Spaces on part the Termination Date, the Lessor is entitled to open and enter the Premises and change the locks in the Premises or change the means of DMRC access to pay the Parking Spaces or adjust any consideration or block the Lessee's access to the Premises and the Parking Spaces by other payment means, at the sole cost of the Lessee. If the Lessee fails to restore the Premises and the Parking Spaces to the condition described in Clause 2.2 above, the Lessor will be entitled to restore the Premises and the Parking Spaces to such condition by itself and charge all costs of such works to the Lessee. The Lessee voluntarily gives DMRC shall also remove all of its property from the right to seal Premises and the said Leased Space(s) Parking Spaces by the Termination Date. If the Lessee does not remove its property from the Premises and remarket the same as part on Parking Spaces by the Termination Date, the Lessor may, at its discretion upon Termination of this Agreement. No claimown discretion, compensation or damages will be entertained by DMRC on this account . 2.3 Restriction on sub-leasing the use order for removal of the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium PeriodLessee's property from the Premises and the Parking Spaces, and storage of such property in a place indicated by the Lessor. In such case, the Lessee will return to the Lessor, at the first request of the Lessor, all costs in connection with removal of the Lessee's property from the Premises and the Parking Spaces, and storage of such property. In addition, the Lessee will pay a contractual penalty for delay in vacating by the Lessee of any of the following components of the subject of lease: the Premises and/or Parking Spaces, in the amount equal to double amount of the daily Rent (calculated on the assumption of 30 days in a month) for each day of delay of the Lessee in vacating the Premises and/or the Parking Spaces. The Parties unanimously agree that the above contractual penalty will be due notwithstanding the fact whether the Lessor incurs damage, or not. Payment of such penalty shall be without prejudice to the right of the Lessor to take any other actions against the Lessee, if the loss incurred by the Lessor exceeds the amount of the aforementioned contractual penalty, in particular the Lessor may seek compensation under general rules. The Lessee will pay to the Lessor the amount of the above contractual penalty forthwith at the Lessor's request, not later, however, than within 3 (three) Business Days following the date of receipt of the Lessor's written request, to the bank account indicated in such request. The Lessee irrevocably authorizes the Lessor or the Lessor's legal successors to disconnect the utilities supplied to the Premises after the Termination Date. DELIVERY OF THE PREMISES AND FIT OUT works Conditions of Delivery Subject to the provisions of Clause 3.2 below, the Premises shall be delivered to the Lessee no later than on [•] 2013 (the „Delivery Date”), provided that the Lessee previously effectively provides the Collateral pursuant to Clause 5 of the Agreement. On the Delivery Date, the Premises shall be delivered to the Lessee in the condition presented on photographs and in the description, forming Enclosure No. 7 hereto. Both Parties will confirm the Delivery of the Premises by signing a protocol on the Delivery Date (the „Delivery Protocol”). The Lessor shall inform the Lessee in writing on the planned Delivery Date, at least one (1) Business Day in advance indicating the day on which representatives of both Parties will deliver and accept the Premises, respectively. If the authorized representative of the Lessee is not present on the Delivery Date, the Lessor will be authorized to sign the Delivery Protocol by itself. If the Lessee does not secure the presence of its authorized representative on the Delivery Date, the Lessor shall be entitled to allow sign the use Delivery Protocol without the Lessee's consent. After the execution of the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject Delivery Protocol by both Parties or by the Lessor alone in accordance with the above provisions, the Premises shall be deemed delivered to the terms and conditions contained Lessee. Any minor defect which does not prevent the Lessee from using the Premises, shall not constitute a ground for refusing to sign the Delivery Protocol in accordance with the provisions of this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 accept the Premises. If the Lessee does not accept the Premises for any other reasons different from those specified herein, the Premises will be deemed delivered to the Lessee from the Lessor on the date set forth in the Delivery Protocol. The Lessee defect referred to above shall be entitled removed by the Lessor within 14 (fourteen) Business Days following the Delivery Date. The Parking Spaces will be deemed delivered to sub lease the use Lessee as of the Leased Area, during date of execution of the subsistence of this Agreement only Delivery Protocol in accordance with a clear stipulation that Clauses 3.1.2 or 3.1.4 above. Delay in Delivery Date If any Force Majeure event occurs or if the leases granted Lessee does not deliver the Collateral to the Sub-Lessees shall terminate simultaneously with Lessor pursuant to the Termination provisions of this Lease Agreement including on sooner determination Clause 5 hereof, the Lessor may, at its sole discretion, postpone the Delivery Date for a period of duration of such event and time required to repair consequences thereof (if any) or for a period of delay in delivery of the Lease granted hereunder for any reason whatsoeverCollateral by the Lessee. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination The Lessor is obliged to notify the Lessee of the Sub-Lessees rights and further that Delivery Date postponed due to the Sub-Lessee shall not have any claim whatsoever against DMRC for any above events. In such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangementcases, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to further sub-sub-lease any compensation, claims or penalties resulting from the use delay of the Leased Space(sDelivery Date, and the Commencement Date and the Termination Date shall be postponed accordingly by the same number of days by which the Delivery Date was delayed. Fit out works No later than by the Commencement Date, the Lessee will perform and complete in the Premises the fit out works according to the specification attached as Enclosure No. 8 hereto (the „Fit Out Works”). 2.3.7 . The Lessee is obliged to prepare on its own all designs and obtain all construction permits or notifications, in accordance with applicable provisions of law, necessary to perform the Fit Out Works and deliver the Premises for use in connection with execution of such Fit Out Works. Prior to the commencement of performance of the Fit Out Works, the Lessee will provide the Lessor, for the Lessor's previous written acceptance, with all such designs regarding the Fit Out Works and permits obtained or notifications made (as the case may be) no later than within 3 (three) Business Days following the execution thereof by or at the request of the Lessee, or obtaining thereof. The Lessee will complete the Fit Out Works on the basis of the above designs, in accordance with the applicable provisions of law and all standards respectively applied and will, after performance of such works, make the Premises available to the Lessor for the purpose of verification of the status of the Premises. RENT, PARKING SPACES RENT AND SERVICE CHARGEs Rent and Parking Spaces Rent Subject to the provisions of Clause 1.4 4.1.2. - 4.1.4 and 4.2. below, the Lessee will pay to the Lessor for the lease of the Premises monthly in advance, throughout the entire Lease Period, the Rent being a PLN equivalent of EUR [•] (in words: [•] euro) per each square meter of the Leasable Area of the Premises per month, that is in total a PLN equivalent of EUR [•] (in words: [•] euro) monthly, increased by applicable VAT in a due amount. Subject to the provisions of Clause 4.2. below, the Lessee will also pay to the Lessor monthly in advance throughout the entire Lease Period the PLN equivalent of EUR [•] (in words: [•] euro) for each month of lease of each Parking Space, i.e. the total PLN equivalent of EUR [•] (in words: [•] euro) per month, increased by applicable VAT in a due amount. Indexation The amounts of the Rent and the Parking Spaces Rent will be subject to annual indexation by EUR HICP, if such index has a positive value (i.e. indicates increase of prices in the previous calendar year). The basis for indexation will be EUR HICP starting from 2013 in the amount of 100%. The first indexation based on EUR HICP shall come into force on 1 January 2014 and next indexations will be made on each anniversary of such date. If calculation of the amount of the Rent and the Parking Spaces Rent, in their valorised amounts for the first months of a given calendar year is not made prior to the date of payment of the Rent and the Parking Spaces Rent for such months, the Lessee will pay to the Lessor the existing amount of the Rent and the Parking Spaces Rent. However, the Lessee will pay to the Lessor for such months also the difference between the existing amount of the Rent and the Parking Spaces Rent, and the amounts of the Rent and the Parking Spaces Rent after valorisation, based on an additional invoice issued by the Lessor for such period, on the date specified in such invoice. Indexation of the Rent and the Parking Spaces Rent does not constitute require any amendment to this Agreement, the terms and conditions of RFP shall also be deemed to be a part of this Lease Agreement.

Appears in 1 contract

Sources: Lease Agreement

Lease Period. 2.2.1 6.1 The LEASE Lease period is hereby granted in favour of extended for another two years, i.e. commencing on 1.1.2009 until 31.12.2010 (Hereinafter: “The extended Lease period”). 6.2 The Lessee is hereby given a choice (Option) to extend the extended lease period for an additional three years i.e. commencing on 1.1.2011 until 31.12.2013 (Hereinafter: “The option period”). The parties agree that extending the extended lease period as stated above shall be conducted automatically, unless the Lessee for a total informs the developer in writing at least 120 days prior to this, according to which the Lessee is not interested in using the option right given to him. 6.3 The provisions of this contract shall apply on both the extended lease period ofand the option period and the term (lease period” in this contract means the extended lease period and/or the option period, respectively. __________________________________________ _______________________ 2.2.2 6.4 At the end of the Lease Period period, or sooner determination upon the legal cancellation of this Agreement for any reason whatsoever all rights given under this Lease Agreement shall cease contract, the Lessee undertakes to have effect vacate the property and to return possession thereof to the Leased Area developer with the Property being in the physical state as received from the developer, subject to reasonable and normal wear and tear despite the careful use of the property, and after all the furniture actions have been performed that the property shall be delivered as stated clean, tidy whitewashed, orderly and fixtures free of any person and other assets permanently attached to the Leased Area shall revert to DMRC without any obligation on part of DMRC to pay or adjust any consideration or other payment object belonging to the Lessee. Notwithstanding the aforementioned, it is agreed that: (a) The Lessee voluntarily gives DMRC is entitled to take from the right property any equipment movable by nature and also furniture, even if affixed to seal the said Leased Space(s) property and remarket shall do so at his responsibility and expense and shall return the same as part on removal place to its discretion upon Termination normal state. The Lessee shall also be permitted to remove from the property all those changes and additions he made to the property and for which he received written consent from the developer to remove them at the end of this Agreement. No claimthe lease period, compensation or damages will be entertained by DMRC on this account and only that he shall do so at his own responsibility and expense and return the removal place to its normal state. 2.3 Restriction on sub-leasing (b) If the use developer is interested that the Lessee disposes of the Leased Area or any part thereof 2.3.1 Subsequent additions and/or changes that the Lessee made to Moratorium Periodthe property with written consent of the developer, the Lessee shall be entitled have to allow the use dispose of the Leased Area through a sub-leasing arrangement them and return it to Sub-Lessee/s subject to the terms its normal state at his own responsibility and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Lawsexpense. 2.3.2 6.5 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination of the Sub-Lessees rights and further that the Sub-Lessee shall not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to further sub-sub-terminate the lease under this contract before the use end of the Leased Space(s). 2.3.7 Subject to Clause 1.4 Lease period. If the Lessee stops using the property and/or if it vacates the property before the end of this Agreementthe Lease period, the terms and conditions Lessee shall not be absolved from the fulfillment of RFP shall also be deemed its obligations under this contract, including its obligation to be a part pay the developer the rental fees until the end of this Lease Agreementthe lease period.

Appears in 1 contract

Sources: Lease Agreement (Rosetta Genomics Ltd.)

Lease Period. 2.2.1 7.1 The LEASE lease under this Agreement shall be for a period of 60 months, commencing on the Delivery Date of possession to the Lessee, within the meaning attributed to this term in paragraph 11.1 hereunder (hereunder: "the Lease Period"). 7.2 The Lessee is hereby granted the right to extend the Lease Period for a further period of 30 months (hereinafter : "the First Additional Lease Period"), only on prior written notice to the Company not less than 6 months prior to the expiration of the Lease Period, and subject to the fulfilment of the provisions hereunder : 7.2.1 The Lessee has complied with all its obligations under this Agreement in favour their entirety and on their due date. Notwithstanding the foregoing, it is agreed that a delay of 14 days in the fulfilment of any particular provision under this Agreement shall not in itself prejudice the right of the Lessee for a total period of 2.2.2 At the end to an extension of the Lease Period or sooner determination under this paragraph 7.2. 7.2.2 In relation to the First Additional Lease Period, all the provisions of this Agreement shall mutatis mutandis apply save for any reason whatsoever all rights given under the matter of rental, in regard to which the provisions of paragraph 13.2 hereunder shall be applicable and save for the right of extension of the Lease Period as set forth in this Lease Agreement shall cease to have effect and the Leased Area with all the furniture and fixtures and other assets permanently attached to the Leased Area shall revert to DMRC without any obligation on part of DMRC to pay or adjust any consideration or other payment to the Lessee. paragraph 7.2. 7.3 The Lessee voluntarily gives DMRC is hereby granted the right to seal extend the said Leased Space(s) and remarket Lease Period subsequent to its extension for the same First Additional Lease Period, for a second additional period of a further 30 months (hereinafter : "the Second Additional Lease Period"), with respect to which all the provisions relating to the First Additional Lease Period as part on its discretion upon Termination of this Agreementset forth in paragraph 7.2 above shall apply mutatis mutandis, including the conditions to which the right to extend the Lease Period for the First Additional Lease Period is subject. No claim, compensation or damages will be entertained by DMRC on this account . 2.3 Restriction on sub-leasing the use It is recorded that after exercise of the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium PeriodSecond Additional Lease Period right, the Lessee shall be entitled to allow the use of the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject to the terms and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination of the Sub-Lessees rights and further that the Sub-Lessee shall not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to granted a further sub-sub-lease the use right of the Leased Space(s). 2.3.7 Subject to Clause 1.4 extension of this Agreement, the terms and conditions of RFP shall also be deemed to be a part of this Lease Agreement.the

Appears in 1 contract

Sources: Lease Agreement (Accord Networks LTD)

Lease Period. 2.2.1 The LEASE is hereby granted in favour of the Lessee for a total period ofof 15 (fifteen) years from the Commencement Date subject to sooner determination of the Lease by the Lesser in its sole discretion at any point of time or Termination hereof. 2.2.2 At the end of the Lease Period or sooner determination of this Agreement for any reason whatsoever all rights given under this Lease Agreement shall cease to have effect and the Leased Area with all the furniture and fixtures and other assets permanently attached to the Leased Area shall revert to DMRC without any obligation on part of DMRC to pay or adjust any consideration or other payment to the Lessee. The Lessee voluntarily gives DMRC the right to seal the said Leased Space(s) and remarket the same as part on its discretion upon Termination of this Agreement. No claim, compensation or damages will be entertained by DMRC on this account . 2.3 Restriction on sub-leasing the use of the Leased Area or any part thereof 2.3.1 Subsequent to Moratorium Period, the Lessee shall be entitled to allow the use of the Leased Area through a sub-leasing arrangement to Sub-Lessee/s subject to the terms and conditions contained in this Agreement, Sub- Leasing Agreement and subject to all Applicable Laws. 2.3.2 The Lessee shall be entitled to sub lease the use of the Leased Area, during the subsistence of this Agreement only with a clear stipulation that the leases granted to the Sub-Lessees shall terminate simultaneously with the Termination of this Lease Agreement including on sooner determination of the Lease granted hereunder for any reason whatsoever. All contracts, agreements or arrangements with Sub-Lessees shall specifically stipulate this covenant of Termination of the Sub-Lessees rights and further that the Sub-Sub- Lessee shall not have any claim whatsoever against DMRC for any such Termination. 2.3.3 The Lessee shall prepare a draft standard format of the sub lease agreement or arrangement, which the Lessee will be required to sign with the Sub Lessee for the use of the Leased Area (hereinafter referred to as “Sub-Lease Agreement”), which shall capture all the terms of sub-leasing as stipulated in this Agreement. The Lessee shall furnish the draft of such agreement to DMRC for modification or suggestion and approval. DMRC shall be entitled to incorporate such clauses, as DMRC may consider appropriate to protect DMRC’s interest. 2.3.4 The Lessee shall enter into Sub-Lease Agreement strictly as per the draft approved by DMRC and the Lessee shall not incorporate or change the Sub- Lease Agreement that would have any adverse effect on the covenants incorporated by DMRC. In case of any deviation from the draft of the Sub- Lease Agreement in any particular circumstance, which supersedes or adversely affects DMRC’s terms and covenants, the prior written consent of DMRC shall be taken before entering into any such agreement with a Sub- Lessee. 2.3.5 The Sub-Lessee shall use the Leased Space(s) only for the permitted use and shall not subject or part with it in any manner whatsoever. 2.3.6 The Sub-Lessee shall not be entitled to further sub-sub-lease the use of the Leased Space(s). 2.3.7 Subject to Clause 1.4 of this Agreement, the terms and conditions of RFP shall also be deemed to be a part of this Lease Agreement.

Appears in 1 contract

Sources: Lease Agreement