Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 5 contracts
Samples: Office Lease (ViewRay, Inc.), Office Lease (ViewRay, Inc.), Office Lease (ViewRay, Inc.)
Lease Term. The terms This Lease starts at noon on the Starting Date, and provisions of ends at noon on the Ending Date. You may not occupy your Premises until this Lease and other required documents have been signed by all parties.
a. Once the Tenant executes the Lease Agreement, the Tenant shall be effective as obligated to pay all amounts due under this Agreement for the duration of the date of this Lease. The term of this Agreement. This includes, but is not limited to, the apartment deposit, monthly rent, cleaning fees, late charges, and any charges associated with damages and/or abandoned property, etc. There are only four circumstances that the Tenant may be released from the Lease with appropriate documentation submitted at least 30 days in advance, and are as follows:
i. Graduation from Xxxxxxx College at end of a fall semester;
ii. Part of a Xxxxxxx College-sponsored Study Abroad, National Student Exchange, or other placement exchange program for the spring semester;
iii. Assignment to student teach, or a nursing placement or other academic requirement that requires the student to live more than sixty (60) miles from Helena; or
iv. Official withdrawal from the “College.
b. If the Tenant intends to leave the Premises permanently prior to the Ending Date and the Tenant wants the College to return the remaining Security Deposit amount, the Tenant must provide the College with a completed 30-Day Intent to Vacate notice (provided by Residential Life & Housing) and the Tenant must pay the full amount of Rent through the Ending Date by the time the Tenant moves out. Notification to the College that the Tenant is leaving without submission of an Intent to Vacate form is not sufficient. Even if the Tenant gives proper notice, the Tenant is not released from liability under this Lease Term”) shall commence on and the “Lease Commencement Date,” as that term is set forth College may withhold the Security Deposit and charge additional charges to the Tenant’s apartment account unless all payments through the Ending Date have been made.
c. If the Tenant moves out before the Ending Date for reasons other than those described in Section 3.2 Paragraph 2(a), Rent for the remainder of the SummaryLease Term is still due to be paid by the Tenant. A buy-out clause or cancellation fee is not applicable. Tenants may be able to assign their obligations under this Lease for the same terms and conditions to another person provided Residential Life & Housing gives written consent, but such consent is at the College’s sole discretion. The new applicant must be approved by Residential Life & Housing. The Tenant’s obligations will be terminated under this Lease once the new applicant has been approved, has moved in, and shall terminate on has paid the “Lease Expiration Date,” as that term is set forth in Section 3.3 of first month’s rent. Should a request to assign the Summary, unless tenant’s obligations under this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that be approved, the Tenat must pay a re-leasing charge of $200.00, which serves to partially defray the College’s costs in making the Premises are currently occupied available for re-leasing. This re-leasing charge is not a cancellation fee, buy-out fee or a limitation of damages collectable by another tenant of the Building. College.
d. If Landlord is unable for any reason the Tenant requests to deliver possession of the Premises transfer to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time a different apartment during the Lease Term, Landlord may deliver Tenant must pay a $100.00 transfer fee if the transfer is approved by the College.
e. All Tenants will be required to Tenant a notice provide their Intent to Vacate during the spring semester, approximately one month prior to Housing Selection (late February/early March). The date will be sent out by Residential Life & Housing one month in advance. All Tenants who plan NOT to return for another year must submit the form as set forth Intent To Vacate in Exhibit Cwriting prior to the deadline requested in order for Residential Life & Housing to release the tenant from their obligation to fill their spot. Tenants deciding to vacate after that date are still held to the terms outlined in 2b above.
f. If for any reason, attached hereto, as a confirmation only unrelated to the negligent or bad actions of Tenant(s) or to any Act of God beyond control of the information set forth thereinManager, which Tenant shall execute and return the Unit is not habitable for a period of time prior to Landlord within ten (10) business days the start date of receipt thereof; providedthe Lease, howeveror after the Lease has commenced, the Tenant’s failure obligation to execute and return such notice pay Rent pursuant to Landlord within such time shall be conclusive upon Tenant that this Agreement is not relieved. Residential Life & Housing will provide comparable alternate accommodations until the information set forth in such notice unit is as specified thereinhabitable. In addition to A refund or rebate of Rent or other fees or relief from future Rent payments is at the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession sole discretion of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowCollege.
Appears in 4 contracts
Samples: Lease Agreement, Lease Agreement, Lease Agreement
Lease Term. The terms and provisions of this Lease Term shall be effective as of mean the date of this Lease. The term of this Lease (the “Lease Term”) shall commence period beginning on the “Lease above referenced Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate ending on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive Termination Date (an approximately twelve (12) month period term). Landlord shall exercise a good faith effort with respect to delivering possession of the Residence to Tenant on the Commencement Date. In the event Landlord does not deliver possession of the Residence to Tenant on the Commencement Date, but Landlord does deliver possession within (45) days after the Commencement Date, then Rent shall be abated on a daily basis during the Lease Termperiod of delay. At Landlord shall not be liable to Tenant for any time during the Lease Term, losses or damages related to such failure to timely deliver possession. If Landlord may cannot deliver to Tenant a the Residence by the first day of the Lease Term because another resident holds over, or for any other reason, Landlord shall not be liable to Tenant or Tenant’s Guarantor for damages, but Tenant will not be required to pay any Rent until the Residence is available. If Landlord is not able to deliver possession to Tenant within forty five (45) calendar days following the Commencement Date, Tenant may, as its sole remedy, cancel the Lease by written notice to Landlord, in which case Tenant’s security deposit will be refunded and Tenant shall have no further liability hereunder. It is expressly understood that this Lease is for the Lease Term regardless of whether Tenant takes occupancy, is transferred, ceases to be enrolled at any school in the form as set forth in Exhibit Carea, attached hereto, as is no longer a confirmation only resident of the information set forth thereinarea or, which Tenant shall execute and return for any other reason, is unable to Landlord within ten (10) business days of receipt thereof; provided, howevercontinue occupying the Residence. Accordingly, Tenant’s failure obligation to execute pay Rent hereunder (and return such notice the Guarantor(s) obligation to ensure payment of the same) shall continue for the entire Lease Term and until all sums due to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfull.
Appears in 4 contracts
Samples: Rental Agreement, Rental Agreement, Rental Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January December 1, 2016, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) April 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide of industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that such delay shall not extend any such date by more than ninety (90) days).
Appears in 3 contracts
Samples: Lease Agreement, Lease (Denali Therapeutics Inc.), Lease (Denali Therapeutics Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) Term shall commence on the date (the “Lease Commencement Date,” as that term ”) which is the Anticipated Commencement Date set forth in Section 3.2 of the Summary (or on such earlier date provided for in the Summary), and provided Landlord shall terminate on have Substantially Completed (as such term is defined in the Work Letter attached as Exhibit C (the “Lease Expiration Date,” Work Letter”)) the Tenant Improvements (as that term is set forth defined in Section 3.3 the Work Letter) as of such date, subject to adjustment to the Summary, unless this Lease is sooner terminated Anticipated Commencement Date for any Tenant Delays (as hereinafter provided. Tenant hereby acknowledges that defined in the Premises are currently occupied by another tenant of the BuildingWork Letter). If Landlord is unable has not Substantially Completed the Tenant Improvements on or prior to the Anticipated Commencement Date, for any reason other than Tenant Delays, the Lease Commencement Date shall be the date upon which Substantial Completion of the Tenant Improvements occurs. Notwithstanding anything to the contrary contained herein, Tenant’s sole and exclusive remedy for any failure of Landlord to deliver possession of the Premises to Tenant on any specific or prior to the Anticipated Commencement Date with the Tenant Improvements Substantially Completed shall be as follows: (i) if the Lease Commencement Date has not occurred within forty-five (45) days after the Anticipated Commencement Date (as such date may be extended by Tenant Delays or Force Majeure Delays) (the “Deadline”), then Tenant shall be entitled to one (1) additional day of free Base Rent and Additional Rent for each day after the Deadline until Landlord delivers the Premises to Tenant with the Tenant Improvements Substantially Complete; and (ii) if the Lease Commencement Date has not occurred within ninety (90) days after the Anticipated Commencement Date (as such date may be extended by Tenant Delays or Force Majeure Delays), then Tenant, at its option, may at any time thereafter elect to terminate this Lease without payment or penalty by giving written notice to Landlord of such election (a “Termination Election Notice”), and in such case, this Lease shall terminate and shall be of no further force and effect on the date that is ten (10) days after the date such Termination Election Notice has been given to Landlord, unless prior to the effective date of such termination Landlord delivers the Premises to Tenant with the Tenant Improvement Substantially Completed, in which case this Lease shall not be subject to any liability for its failure to do so, terminate and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Termremain in full force and effect. At any time during following the Lease TermCommencement Date, Landlord may deliver to Tenant a notice Memorandum of Commencement of Lease Term substantially in the form attached hereto as set forth in Exhibit C, attached hereto, B as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten three (103) business days of Business Days after receipt thereof; provided, however, Tenantprovided either party’s failure to execute and return such notice request execution of, or to Landlord within such time execute, the Commencement Date Memorandum shall be conclusive upon Tenant that not in any way modify or extend the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Lease Commencement Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 3 contracts
Samples: Triple Net Lease (GOOD TECHNOLOGY Corp), Triple Net Lease (GOOD TECHNOLOGY Corp), Triple Net Lease (GOOD TECHNOLOGY Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January July 1, 2016, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each two (2) days that the delivery date is delayed beyond such date, 2015 (2) on or before August 1, 2016, then, as Tenant’s sole remedy for such delay (in addition to the “Base Rent Delivery Date”delay in subpart (1)), the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one additional day for each day that the delivery date is delayed beyond such date, or (3) October 1, 2016, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate extended to the extent of any delays in delivery of possession caused by war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord. Landlord shall allow Tenant access to the Premises prior to the Lease Commencement Date for the purpose of Tenant installing equipment, furniture or fixtures (including Tenant’s data and telephone equipment) in the Premises and any other purpose necessary to ready the Premises for Tenant’s occupancy (but not for conducting business) without payment of Rent. Prior to Tenant’s entry into the Premises, Tenant shall submit a schedule to Landlord for approval, which schedule shall detail the timing and purpose of Tenant’s entry. Tenant shall hold Landlord harmless from and in addition indemnify, protect and defend Landlord against any loss or damage to the Building or Premises and against injury to any Rent Abatement described in persons caused by Tenant’s actions pursuant to this Section 3.2 below2.1.
Appears in 3 contracts
Samples: Lease (Biotech Acquisition Co), Sublease (Twist Bioscience Corp), Sublease (Twist Bioscience Corp)
Lease Term. The terms reins and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “"Lease Term”") shell be as set forth In Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the .the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the “Base Rent Delivery Date”Summary), Landlord shall not be subject to any liability nor shell the validity of this Lease nor the obligations of Tenant shall hereunder be entitled to one (1affected. In the event that the Lease Commencement Date is a date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) day of per diem Base Rent abatement for each day commencing on the day Summary, within a reasonable period of time after the Base Rent Delivery Date and ending on the date Landlord so tenders Tenant takes possession of the Premises Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, seeing forth, among other things, the Lease Commencement Date and the Lease Expiration Date, and Tenant shall execute and return such amendment to Landlord within five (5) days after Tenant's receipt thereof. In the event that Landlord does not deliver such amendment to Tenant. Any such Base Rent Abatement , the Lease Commencement Date shall be separate from and in addition deemed to any Rent Abatement described be the anticipated Lease Commencement Date set forth in Section 3.2 below7.2(ii) of the Summary.
Appears in 3 contracts
Samples: Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before September 1, 2018, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2019, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Samples: Lease (Pliant Therapeutics, Inc.), Lease (Pliant Therapeutics, Inc.)
Lease Term. The terms and provisions basic term of this Lease with respect to each Property (the “Basic Term”) shall be effective as begin upon the Property Closing Date for such Property (in each case the “Basic Term Commencement Date”) and shall end on the fifth annual anniversary of the date Initial Closing Date (the “Basic Term Expiration Date”), unless the Basic Term is earlier terminated or the term of this Lease is renewed (as described below) in accordance with the provisions of this Lease. The Notwithstanding the foregoing, Lessee shall not be obligated to pay Basic Rent until the Rent Commencement Date with respect to such Property. To the extent no Default or Event of Default has occurred and is continuing, Lessee may request (by written notice to the Agent, who shall give notice to each Financing Party delivered in each case at least one hundred twenty (120) days prior to the end of the then current term) the extension of the term of this Lease (for all, but not less than all, the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises Properties which are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability the Operative Agreements for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day or two (2) additional terms each of per diem Base Rent abatement one (1) year’s duration from the Basic Term Expiration Date (each, a “Renewal Term”); provided, no such Renewal Term shall be permitted unless expressly agreed to, at the written request of Lessee, in writing by each Lender and each Holder in each such entity’s sole discretion; provided, further, that the expiration date for the final Renewal Term for each day commencing on Property shall not be later than the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession seventh anniversary of the Premises Initial Closing Date, unless such later expiration date has been expressly agreed to, at the written request of Lessee, in writing by each Lender and each Holder in each such entity’s sole discretion. The failure by any Lender or Holder to Tenant. Any respond to any request from Lessee for any Renewal Term within thirty (30) days after receipt of such Base Rent Abatement requests shall be separate deemed a negative response to such request. Pursuant to Section 10.3 of the Participation Agreement, Lessee shall have the option to replace any Lender or any Holder that does not expressly consent within thirty (30) days of a receipt of a request from and Lessee for any Renewal Term in addition to any Rent Abatement described in accordance with the provisions of this Section 3.2 below2.2.
Appears in 2 contracts
Samples: Lease Agreement (Sabre Holdings Corp), Lease Agreement (Sabre Holdings Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, as the same may be extended in accordance with the Extension Option Rider attached hereto as Exhibit G and shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Commencement Date and end on the last day of the eleventh full calendar month thereafter and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Expiration Date. At any reasonable time during after the Lease TermCommencement Date (but in any event not to exceed ninety (90) days after the Commencement Date), Landlord may shall deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretohereto (the “Notice of Lease Term Dates”), as a confirmation only of the information set forth therein, which Tenant shall either respond to or execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return in the event Tenant executes and returns such notice to Landlord within such time Notice of Lease Dates the dates set forth therein shall be conclusive and binding upon Tenant. Failure of Tenant to timely respond to or execute and deliver the Notice of Lease Term Dates shall constitute an acknowledgment by Tenant that the information set forth statements included in such notice is as specified therein. In addition to the foregoingare true and correct, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowwithout exception.
Appears in 2 contracts
Samples: Consent to Sublease (Arlo Technologies, Inc.), Office Lease (Arlo Technologies, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” applicable to the Initial Premises as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. provided (provided that, for clarification purposes, Landlord and Tenant hereby acknowledges acknowledge and agree that the Tenant’s Base Rent obligations with regard to Must-Take Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the 1 and Must-Take Premises to Tenant on any specific date , then Landlord 2 shall not be subject commence until the Lease Commencement Date applicable to any liability for its failure Must-Take Premises 1 and the Lease Commencement Date applicable to do soMust-Take Premises 2, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunderrespectively). For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term, provided that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretohereto (the “Notice of Lease Term Dates”), as a confirmation only of the information set forth therein, which Tenant Xxxxxx shall execute and return to Landlord within ten fifteen (1015) business days of receipt thereof; providedthereof (provided that if the Notice of Lease Term Dates is not factually correct, however, Tenant’s failure then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such time fifteen (15) business day period). Such modified Notice of Lease Term Dates shall not be conclusive binding unless Landlord countersigns the notice with Tenant’s changes. If Landlord does not so countersign the notice, Landlord and Tenant shall work together in good faith to agree upon and mutually execute an acceptable notice. Landlord and Tenant hereby acknowledge and agree that the information set forth a Notice of Lease Term Dates may be delivered in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession connection with each of the Initial Premises, Must-Take Premises to Tenant on or before January 1 and Must-Take Premises 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Samples: Office Lease (ServiceTitan, Inc.), Office Lease (ServiceTitan, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the “Base Rent Delivery Date”Summary), Landlord shall not be subject to any liability nor, except as otherwise provided below, shall the validity of this Lease nor the obligations of Tenant shall hereunder be entitled to one (1affected. In the event that the Lease Commencement Date is date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) day of per diem Base Rent abatement for each day commencing on the day Summary, within reasonable period of time after the Base Rent Delivery Date and ending on the date Landlord so tenders Tenant takes possession of the Premises Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, setting forth, among other things, the Lease Commencement Date and the Lease Expiration Date, and Tenant shall execute and return such amendment to Landlord within five (5) days after Tenant's receipt thereof provided Tenant approves the contents thereof (which approval shall not be unreasonably withheld). Any such Base Rent Abatement shall be separate from [***] Confidential portions of this document have been redacted and in addition to any Rent Abatement described in Section 3.2 belowfiled separately with the Commission.
Appears in 2 contracts
Samples: Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before October 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2018, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Samples: Lease (Annexon, Inc.), Lease (Annexon, Inc.)
Lease Term. 5.1 The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease for the Premises shall be for a period of one hundred eighty (180) months (said initial term, as extended by any Renewal Term, the "TERM"), commencing on the Commencement Date.
5.2 Provided that if, on or prior to the date upon which the Term is scheduled to expire (the “"EXPIRATION DATE") or any other Renewal Date (as hereinafter defined) this Lease Term”) shall commence not have been terminated pursuant to any provision hereof, then on the “Lease Commencement Date,” as that term is set forth in Section 3.2 Expiration Date and on the fifth (5th) anniversary of the SummaryExpiration Date (the Expiration Date and each such anniversary being referred to herein as a "RENEWAL DATE"), and Tenant shall terminate on have the “right to extend the Term (each such extension, a "RENEWAL TERM") for an additional period of five (5) years with respect to each Renewal Term, notification to Landlord in writing at least twelve (12) months (the "RENEWAL NOTICE DATE") prior to the next Renewal Date that Tenant is extending this Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summarynext Renewal Date (each such notice, unless this Lease is sooner terminated as hereinafter provideda "RENEWAL NOTICE"). If Tenant hereby acknowledges that elects to not send a Renewal Notice to Landlord, Tenant shall have the Premises are currently occupied right to extend the then current Term by another tenant a period of up to six (6) months by giving to Landlord a written notice of such extension at least twelve (12) months prior to the expiration of the Building. If Landlord is unable for any reason to deliver possession then current Term, which notice shall specify the length of such extension of the Premises Term (not to Tenant on any specific date , then Landlord exceed six (6) months). Any extension of the Term shall not be subject to any liability for its failure to do so, and such failure shall not affect all of the validity of this Lease or the obligations of Tenant hereunder. For purposes provisions of this Lease, as the term “Lease Year” shall mean each consecutive twelve same may be amended, supplemented or modified (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which except that Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that not have the information set forth in such notice is as specified therein. In addition to the foregoing, subject right to any delays caused by Tenant or any Tenant Parties and events additional Renewal Terms). An extension of Force Majeure, if Landlord fails this Lease according to tender possession Section 545 German Civil Code due to continued usage of the Premises to by Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)is specifically excluded.
5.3 Except as otherwise expressly provided herein, Tenant shall be entitled have no right and hereby waives all rights which it may have under any Law (i) to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession quit, terminate or surrender this Lease or any of the Premises Premises, save for Tenant's right to Tenant. Any such Base Rent Abatement shall be separate from terminate this Lease for cause ("AUS WICHTIGEM XXXXX") including, but not limited to, Sections 543 and in addition 578 of the German Civil Code, or (ii) to any Rent Abatement described set-off of any Rent, unless such amounts claimed by Tenant are not disputed by Landlord or have been confirmed in Section 3.2 belowa non-appealable judgment.
Appears in 2 contracts
Samples: Lease Agreement (Corporate Property Associates 17 - Global INC), Lease Agreement (Corporate Property Associates 17 - Global INC)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease YearMonth” shall mean each consecutive twelve (12) month monthly period during the Lease Term; provided that the first (1st) Lease Month of the Lease Term shall commence on the Lease Commencement Date and end on the last day of the first (1st) full calendar month of the Lease Term, and the last Lease Month shall end on the Lease Expiration Date; and provided further that, if applicable, the first (1st) Lease Month of the Option Term shall commence on the first (1st) day of the Option Term and end on the last day of the first (1st) full calendar month of the Option Term, and the last Lease Month of the Option Term shall end on the last day of the Option Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Samples: Lease (Sorrento Therapeutics, Inc.), Lease Agreement (Sorrento Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective Subject to any Tenant Delay (as of defined on Exhibit “F”) the date of this Lease. The term of this Lease lease (the “Lease Term”) shall commence on the date of Substantial Completion of Landlord’s Work (as defined on Exhibit “Lease Commencement Date,” as that term is set forth in Section 3.2 F”) and Landlord’s delivery of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant in “broom clean” condition, free of all occupants (the “Lease Commencement Date”) and expire on any specific date the last day of the full sixtieth (60th) month thereafter (the “Expiration Date”). If the Lease Term commences on a day other than the first day of a month, then Landlord the first year of the Lease Term shall not be expire on the last day of the full twelve (12th) calendar month following the Lease Commencement Date. Notwithstanding the foregoing, and subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes execution of this Lease, Tenant shall have access to the term “Lease Year” shall mean each consecutive twelve Premises for thirty (1230) month period during days prior to the date on which the Lease Term. At any time during Commencement Date is expected to occur solely for the purposes of installing its telecommunications equipment and wiring, furniture and fixtures (the “Tenant’s Early Access Work”) and provided that Tenant complies with all terms and conditions of the Lease, including but not limited to its insurance and indemnification obligations set forth in the Lease Termbut Tenant shall have no obligation to pay Rent during such period of access. Notwithstanding the foregoing, in the event of any conflict between the performance of Landlord’s Work and Tenant’s Early Access Work, Landlord’s Work shall have priority. Upon the Lease Commencement Date, Landlord may deliver to and Tenant shall execute a notice Lease Commencement Date Certificate in the form attached hereto as set forth in Exhibit “C”. If Tenant fails to object to, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall or execute and return to Landlord return, the Lease Commencement Date Certificate within ten (10) business days Business Days of receipt thereof; provideddelivery from Landlord, however, Tenant’s failure to execute and return the terms set forth on such notice to Landlord within such time Commencement Date Certificate shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition deemed to the foregoing, subject be agreed to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Samples: Lease Agreement (Spero Therapeutics, Inc.), Lease Agreement (Spero Therapeutics, Inc.)
Lease Term. The terms (a) This Lease shall become effective upon its delivery, and subject to earlier termination pursuant to the provisions of this Lease, shall have an Initial Term terminating on the last day of the Lessee’s current Fiscal Year.
(b) The Lease Term may be extended, solely at the option of the Lessee, at the end of the Initial Term or any Renewal Term for an additional Renewal Term up to the Maximum Lease Term.
(c) At the end of the Initial Term and at the end of each Renewal Term, the Lessee shall be deemed to have exercised its option to continue this Lease for the next Renewal Term, unless the Lessee delivers written notice to the Lessor no later than March 31 of each year stating the Lessee’s intention to not extend the Lease Term. The Lessee’s option to renew or not to renew this Lease shall be effective as conclusively determined by whether or not the City Council of the date Lessee has, on or before the March 31 immediately preceding the end of the Initial Term or any Renewal Term then in effect, budgeted and appropriated, specifically with respect to this Lease, moneys sufficient to pay all the Rental Payments and reasonably estimated Additional Payments for the ensuing Renewal Term. The City Administrator of the Lessee (or any other officer at any time charged with the responsibility of preparing budget proposals) is hereby directed to include in the budget proposal submitted to the City Council, in any year in which this Lease shall be in effect, items for all payments required for the next ensuing Renewal Term under this Lease; it being the intention of the City Council that the decision to renew or not to renew this Lease shall be made solely by the City Council and not by any other official of the Lessee. The Lessee shall in any event, whether or not this Lease is to be renewed, furnish to the Lessor and the Purchaser copies of its annual budget promptly after the budget is adopted, but in any case no later than 30 days later than the end of each Fiscal Year.
(d) The Lessee’s option to renew or not to renew this Lease may not be exercised at any time during which an Event of Default has occurred and is then continuing under any of the terms of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure that if such Event of Default (money payments excepted) is of such nature that the same is curable but not within the period allowed for curing such Event of Default, then the right of the Lessee to execute and return such notice to Landlord exercise the option hereby granted shall not be suspended if the Lessee shall have promptly commenced within such time period to comply with the provisions of this Lease which shall have been breached by it and if so long as the Lessee shall, with diligence and continuity, proceed to cure such Event of Default.
(e) The Lessee intends, subject to the provisions above respecting the failure of the Lessee to budget or appropriate funds to make Rental Payments and Additional Payments, to continue this Lease Term and to pay the Rental Payments and Additional Payments under this Lease. The Lessee reasonably believes that legally available funds in an amount sufficient to make all Rental Payments and Additional Payments during the Initial Term and each Renewal Term can be obtained. The Lessee further intends to do all things lawfully within its power to obtain and maintain funds from which the Rental Payments and Additional Payments may be made, including making provision for such Rental Payments and Additional Payments to the extent necessary in each proposed annual budget submitted for approval in accordance with applicable procedures of the Lessee and to exhaust all available reviews and appeals in the event such portion of the budget is not approved. Notwithstanding the foregoing, the decision to budget and appropriate funds or to continue the Lease Term is to be made in accordance with the Lessee’s normal procedures for such decisions.
(f) The terms and conditions during any Renewal Term shall be conclusive upon Tenant the same as the terms and conditions during the Initial Term, except that the information Rental Payments and the Option Purchase Price shall be as provided in the schedules set forth in Schedule 4 to this Lease, as such notice is schedules may be revised as specified therein. In addition to provided in the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowIndenture.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Lease Term. The terms and provisions Subject to the conditions to the effectiveness of this Lease set forth in paragraph 37, the construction term (the "Construction Term") of this Lease shall be effective as of commence on the date of this LeaseLandlord's delivery of the Land to Tenant in accordance with, and in the condition specified in, the Construction Provisions, and shall end on the "Commencement Date" (as defined below). The main term of this Lease (the “"Main Term") of the Lease Term”) shall commence on the “Lease earlier of (i) 210 days following "delivery of the Land," which shall occur no earlier than March 1, 1994 and, subject to force majeure, no later than June 15, 1994, provided Tenant has obtained the approval of the Architectural Review Board of the City of Chico as well as Landlord's approval of Tenant's Plans and Specifications necessary for the construction of the Improvements or (ii) Tenant's opening for business (the "Commencement Date,” as that term is set forth in Section 3.2 ") and shall end on the last day of January following the twentieth (20th) anniversary of the SummaryCommencement Date; provided, and shall terminate on however, the “Lease Expiration Date,” Commencement Date is subject to adjustment as that term described in EXHIBIT "C". If Tenant, after exercising its best efforts, without economic concern, is set forth in Section 3.3 unable to obtain the necessary permits for the construction of the SummaryImprovements and/or Tenant's occupancy therein, unless this Lease is sooner terminated Landlord shall, at Tenant's election, join Tenant, both financially and in name, in pursuing a claim against the City of Chico and/or subdivision thereof, as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date case may be, then Landlord shall not be subject to any liability for its failure to do soprovide Tenant the necessary permit(s). In all events, if Tenant is unable to obtain the requisite authorization within one (1) year following its submittal of the approved Plans and Specifications, Tenant shall have the right to terminate this Lease within sixty (60) days following the expiration of said one (1) year period. In the event Tenant terminates the Lease, Tenant shall reimburse Landlord for all out-of-pocket costs incurred by Landlord in the "delivery of the Land," supported by adequate back-up documentation, including, but not limited to, the relocation and buy-out costs of tenants necessary to facilitate the "delivery of the Land" to Tenant, as well as lost rents from such failure tenants which were bought out, which costs shall in no event exceed Four Hundred Twenty-Five Thousand and NO/100 Dollars ($425,000.00). In addition to the Main Term, Tenant shall have the option (a "Renewal Option") to renew and extend the Lease for five (5) consecutive five (5) year periods (the "Option Periods") immediately following the Main Term, at the rent specified below. Tenant shall give Landlord written notice of its election to exercise any Renewal Option at least one hundred eighty (180) days prior to the expiration of the Main Term or any then-current Option Period, as applicable; provided, however, that in order to avoid any forfeiture or inadvertent lapse of such Renewal Option, if Tenant shall fail to give any such notice within the one hundred eighty (180) day time limit and shall not affect have given Landlord prior written notice of its intent not to exercise its Renewal Option, then and as often as the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Leasesame shall occur, the term “Lease Year” Tenant's right to exercise such Renewal Option shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretonevertheless continue, as a confirmation only of shall its tenancy hereunder (under the information set forth thereinsame terms and conditions as theretofore in effect and notwithstanding that the Main Term or then-current Option Period shall have expired), which Tenant shall execute and return to Landlord within until ten (10) business days after Landlord shall have given Tenant a written notice of receipt thereofLandlord's election to terminate the Renewal Option, during which period Tenant may exercise its Renewal Option at any time prior to the expiration of such ten (10) business day period. Upon the giving of notice of renewal and extension in accordance with the foregoing provisions, the Term (defined below) of this Lease shall thereupon be renewed and extended in accordance with such notice without further act by Landlord or Tenant, the same as if such notice had been timely given hereunder. Notwithstanding the foregoing, it shall be a condition precedent to Tenant's right to exercise a renewal option that no "Event of Default" occurring prior to such exercise remains uncured; provided, however, if the "Event of Default" is of a non-monetary nature, Tenant may exercise the Renewal Option if litigation has commenced regarding said defaults. In the event the above-referenced litigation results in a decision adverse to Tenant’s failure , Tenant's exercise of the Renewal Option shall be deemed void unless Tenant has promptly commenced to execute cure such default following the decision and return such notice pays to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition amount of award, if any, plus attorney's fees and costs to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowextent required hereunder.
Appears in 2 contracts
Samples: Lease (Basic Us Reit Inc), Lease (Basic Us Reit Inc)
Lease Term. (a) The terms and provisions initial term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (the “Lease 10) years ("Term”") and ---- shall commence on the “Lease date hereof ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate at ----------------- 5:00 P.M. local time on the “Lease tenth (10th) anniversary of the Commencement Date (the "Expiration Date,” as "). ---------------
(b) Provided that term Tenant is set forth not in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes default of this Lease, Tenant shall have the option to renew this Lease for three (3) renewal terms of five (5) years each commencing upon the expiration of the initial ten (10) year Term or any previous renewal term, as the case may be, and ending at 5:00 P.M. local time five (5) years thereafter, unless any such renewal term “shall sooner terminate in accordance with this Lease Year” or otherwise; provided that (i) Tenant shall mean each consecutive twelve have notified Landlord in writing of Tenant's exercise of such renewal option not later than six (126) month months prior to the expiration of the initial Term hereof or the then existing renewal term, as the case may be, (ii) at the time such notice is given, this Lease shall be in full force and effect and Tenant shall not be in default hereunder for such period of time as would entitle Landlord to terminate this Lease pursuant to the terms hereof. Such renewal terms shall be upon all of the agreements, terms, covenants and conditions hereof except that Tenant shall pay Base Rent (hereinafter defined) to Landlord in monthly installments in an amount equal to the greater of (i) the fair market rate (the "Fair Market Rent") for ---------------- the Real Property (as defined herein) or (ii) one hundred and ten percent (110%) of the existing Base Rent on an "AS IS, WHERE IS" basis as of the commencement of the renewal term, as designated by Landlord within twenty (20) days after Landlord receives Tenant's renewal notice, but in no event greater than the rate of Base Rent in effect at the scheduled expiration of the Term or the applicable renewal term plus twenty-five percent (25%) thereof. In addition, during the Lease Termrenewal term, Tenant shall pay all other rent and other amounts due under the Lease. At any time during If Tenant does not approve of Landlord's designation of the Lease TermBase Rent for the renewal term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretothen Tenant, as a confirmation only of the information set forth thereinits sole remedy, which Tenant shall execute and return may submit in writing to Landlord within ten (10) business days after the Landlord's delivery of receipt thereof; providedits determination Fair Market Rent to Tenant (the "Renewal Commencement Date"), howeverits good faith ------------------------- determination of Fair Market Rent with appropriate back-up documentation. If the Tenant's determination of Fair Market Rent is within ten percent (10%) of the Landlord's determination of the same, the "Fair Market Rent" shall equal the ---------------- median number between each of the Tenant’s failure 's and Landlord's determination (but in no event shall the Fair Market Rent be less than the Base Rent existing on the last day of the Term plus ten percent (10%)). If the Tenant's determination of Fair Market Rent is not within ten percent (10%) of the Landlord's determination --- of the same, each of the Landlord and the Tenant shall choose an appraiser on the eleventh (11th) day after the Renewal Commencement Date to execute determine the "fair market rent" and return such notice to Landlord within such time the initial determinations shall be conclusive upon Tenant that disregarded for all purposes in determining the information set forth in such notice is as specified thereinFair Market Rent. In addition Each appraiser shall diligently attempt to agree on the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant Fair Market Rent on or before January 2, 2015 the twenty-fourth (the “Base Rent Delivery Date”), Tenant shall be entitled to one (124th) day of per diem Base Rent abatement for each day commencing on the day after the Renewal Commencement Date. If such appraisers agree on the Fair Market Rent on or before the twenty-fourth day after the Renewal Commencement Date, such agreed sum shall constitute the "Fair Market Rent". If the appraisers have not agreed on the Fair Market Rent by such day, (a) the appraisers shall select an independent third appraiser (the "Final Appraiser"), --------------- and (b) each such original appraiser shall deliver in writing to the Final Appraiser their last determination of the sum (each such sum being hereinafter referred to as the "Appraisal Price") that such appraiser believes is the Fair --------------- Market Rent. On or before the twenty-ninth (29th) day after the Renewal Commencement Date, the Final Appraiser shall choose one Appraisal Price or the other Appraisal Price as the "Fair Market Rent". Notwithstanding anything to ---------------- the contrary herein, in no event shall the Fair Market Rent be less than the Base Rent Delivery Date and ending on in effect at the date Landlord so tenders possession last day of the Premises to TenantTerm plus ten percent (10%) thereof. Any Tenant shall have no further renewal rights after the expiration of such Base Rent Abatement renewal terms. Upon the commencement of each renewal term, (x) the renewal term shall be separate from added to and become part of the Term, (y) any reference in addition this Lease, to the "Term", the "term of this Lease" or any Rent Abatement described in Section 3.2 belowsimilar expression shall ---- be deemed to include the renewal terms, and (z) the Expiration Date shall become the expiration of the applicable renewal term.
Appears in 2 contracts
Samples: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc), Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease shall commence on the date that both LI Substantial Completion (as hereinafter defined in Section 23.01(c)) and “LI Substantial Completion” under that certain Lease Agreement by and between Landlord and Tenant dated as of the Execution Date (the “Parking Lease”) have occurred (such date, the “Commencement Date”) and expire on the date which is the last day of the full calendar month One Hundred Twenty-Six (126) months thereafter (“Lease Term”). Notwithstanding the foregoing, if applicable, the Commencement Date shall be extended to be the earlier of (i) shall commence on forty-five (45) days following the “Lease Commencement Date,” start of Tenant’s right to early access (as that term is set forth described in Section 3.2 2.04); or (ii) commencement of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 commercial operation of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of Tenant’s business at the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term The initial “Lease Year” shall mean each consecutive consist of any partial month following the Commencement Date, and the subsequent twelve (12) month full calendar months. Each subsequent Lease Year shall consist of a consecutive period during of twelve (12) full calendar months thereafter. Upon determination of the Commencement Date and square footage of the Building pursuant to Article Nineteen, Landlord and Tenant shall promptly execute an acknowledgment form setting forth the actual Commencement Date, acceptance of the Premises and confirmation of the square footage of the Building. Failure to execute such acknowledgment shall not affect the actual Commencement Date or expiration of this Lease. Tenant shall have two (2) options to extend the Lease Term. At any time during Term of this Lease for consecutive terms of five (5) years each, subject to the Lease Term, Landlord may deliver to Tenant a notice in the form as terms and conditions set forth in Exhibit C, attached hereto, as a confirmation only of Article Twenty One in the information set forth therein, which Tenant shall execute and return Riders to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLease Agreement.
Appears in 2 contracts
Samples: Lease Agreement (Blue Apron Holdings, Inc.), Lease Agreement (Blue Apron Holdings, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The lease term of this Lease (the “Lease Term”) shall commence on upon the earlier to occur of either (a) the satisfaction of the following listed conditions: (i) the completion of Landlord’s Work (as hereinafter defined), (ii) the completion of Tenant’s Work (as hereinafter defined), and (iii) the issuance of a Certificate of Occupancy by the City of Waltham; or (b) the Rent Commencement Date (as defined in Section 3.1 below) (the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ”) and shall terminate on continue for a period of ten (10) years and nine (9) months after the Rent Commencement Date unless extended or terminated as provided in this Lease (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided”). Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date shall, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days Business Days of receipt thereof; provided, howeverexecute a Commencement Date Certificate substantially similar to the form attached hereto as Exhibit “E” confirming the Lease Commencement Date, Tenant’s failure to execute the Rent Commencement Date and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinExpiration Date. In addition to Notwithstanding the foregoing, subject if and to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession the extent the occurrence of the Premises Lease Commencement Date is delayed beyond December 31, 2006 due to Tenant on or before January 2, 2015 a Landlord Delay (the “Base Rent Delivery Date”as defined in Section 10.1 (d)) of which Landlord has received Landlord Delay Notice (as defined in Section 10.1 (d)), Tenant then the Rent Commencement Date shall be entitled to extended two (2) days for every one (1) day due to such Landlord Delay; and all other dates and time periods for increases in rental rates through the Lease Term, as set forth on Exhibit “C” attached hereto and made a part hereof, shall be extended for an equal number of per diem Base Rent abatement for each day commencing on days. In addition, if and to the day after extent the Base Rent Delivery Date and ending on the date Landlord so tenders possession occurrence of the Premises Lease Commencement Date is delayed beyond February 28, 2007 due substantially and primarily to Tenanta Landlord Delay of which Landlord has received Landlord Delay Notice, Tenant shall have the option to terminate this Lease effective immediately upon written notice to Landlord. Any such Base Rent Abatement If Tenant elects to terminate this Lease, then this Lease shall be separate from null and in addition void and of no further force or effect, except Landlord agrees to immediately return to Tenant any Rent Abatement described in Section 3.2 belowpre-paid rent and/or Security Deposit.
Appears in 2 contracts
Samples: Lease Agreement (Histogenics Corp), Lease Agreement (Histogenics Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease Sublease (the “Lease Term”) shall commence on sixty (60) days following Sublandlord’s delivery of the Sublease Premises to Subtenant in the required condition and receipt of Master Landlord’s written consent to this Sublease (the “Lease Sublease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ”) and shall terminate expire on July 31, 2025 (the “Lease Sublease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is sooner terminated as hereinafter providedprovided herein. Tenant hereby acknowledges Subtenant expressly agrees that it shall have no right to extend the Term of this Sublease or to require that Sublandlord exercise its option rights under Section 2.2 “Option Term” of the Master Lease, and Sublandlord agrees that it will not exercise its option rights under Section 2.2 “Option Term” of the Master Lease or otherwise extend the term of the Master Lease. Sublandlord and Subtenant each further understand, acknowledge and agree that the Premises are currently occupied by another tenant Sublease Expiration Date occurs at the end of the Building. If Landlord is unable Lease Term under the Master Lease, and that both parties intend for any reason this Sublease to deliver possession be characterized as a sublease of the Sublease Premises, and not as an assignment of Sublandlord’s rights under the Master Lease. On the last day of the Term, or on the sooner termination of this Sublease, Subtenant shall surrender the Sublease Premises to Tenant Sublandlord in as good condition and repair as received, normal wear and tear excepted, with all alterations or improvements made by Subtenant removed, to the extent properly required by Master Landlord, without damage to the Sublease Premises or the Building, and otherwise in the manner required by the Master Lease, as incorporated herein, including, without limitation, the provisions of Section 15 “Surrender Of Premises; Ownership And Removal Of Trade Fixtures” of the Master Lease. Subtenant shall have the right to enter the Sublease Premises during the sixty (60) day period following Sublandlord’s delivery of the Sublease Premises to Subtenant in the required condition and receipt of Master Landlord’s written consent (the “Early Access Period”), for the limited purposes of preparing the Sublease Premises for occupancy and occupancy of completed areas. Such entry and occupancy shall be on any specific date all of the terms of this Sublease, then Landlord except that Subtenant shall not be subject required to pay any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period rent during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofEarly Access Period; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time that Subtenant shall be conclusive upon Tenant that responsible for the information set forth payment of all utilities and other services which Subtenant uses in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of Sublease Premises during the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowEarly Access Period.
Appears in 2 contracts
Samples: Consent to Sublease Agreement (Bolt Biotherapeutics, Inc.), Sublease Agreement (Bolt Biotherapeutics, Inc.)
Lease Term. The terms and provisions of this Lease Term shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth described in Section 3.2 of the Summary, and 1. Resident shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that not enter the Premises are currently occupied by another tenant of until the BuildingLease Term begins. If Landlord is unable for Resident shall not place any reason to deliver possession of property in the Premises prior to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity beginning of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At If Resident places any time during property in the Premises prior to the beginning of the Lease Term, Resident shall immediately remove such property upon notice from Landlord may deliver and shall additionally be charged a fine of a minimum of Fifty Dollars ($50) payable to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only Landlord.
A. No Automatic Renewal - Upon expiration of the information set forth thereinLease Term, which Tenant this Lease Agreement shall execute and return not automatically renew, nor shall it convert to a month-to-month basis, or any other extended form of this Lease Agreement, except as provided herein. If Resident wishes to continue to occupy the Premises after the expiration of the Lease Term, Resident must enter into a separate Lease Agreement with Landlord within ten (10) business days for a succeeding period. This Lease Agreement shall not guaranty Resident the right to lease the Premises for any period succeeding the Lease Term, therefore Resident is encouraged to notify Landlord as soon as possible of receipt thereof; provided, however, Tenant’s failure any desire to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that enter into a Lease Agreement for the information set forth in such notice is as specified therein. In addition Premises for any period subsequent to the foregoing, subject Lease Term. Landlord reserves the right to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of lease the Premises to Tenant on or before January 2another party for a period succeeding the Lease Term, 2015 without notice to Resident, any time prior to receipt of notice of any such desire and execution of a Lease Agreement for any succeeding term.
B. VOLUNTARY SURRENDER OF POSSESSION OF PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM SHALL NOT AUTOMATICALLY TERMINATE LEASE AGREEMENT – THE VOLUNTARY SURRENDER OF POSSESSION OF THE PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM SHALL NOT AUTOMATICALLY TERMINATE THIS LEASE AGREEMENT. LANDLORD MAY, AT ITS SOLE DISCRETION, DEEM THE VOLUNTARY SURRENDER OF POSSESSION OF THE PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM A TERMINATION OF THIS LEASE AGREEMENT UPON WRITTEN NOTICE OF SUCH BY LANDLORD TO RESIDENT.
C. Extension of Lease Term - If Resident enters into a Lease Agreement with Landlord for the Premises, the term of which begins no more than thirty (the “Base Rent Delivery Date”), Tenant shall be entitled to one (130) day of per diem Base Rent abatement for each day commencing on the day days after the Base Rent Delivery Date and ending on the date Landlord so tenders possession end of the Premises to Tenant. Any such Base Rent Abatement Lease Term of this Lease Agreement, then the Lease Term of this Lease Agreement shall be separate from extend until the beginning of the Lease Term of the subsequent Lease Agreement and in addition to any Rent Abatement described in Section 3.2 belowall terms and conditions of this Lease Agreement shall extend accordingly.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date Effective Date except for the provisions of this LeaseLease relating to the payment of Rent (as defined in Section 3.1 below). The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary (subject, however, to the terms of the Tenant Work Letter) and shall commence on the applicable Lease Commencement date set forth in Section 7 of the Summary with respect to the applicable portion of the Premises. For purposes of this Lease, the term “Lease Commencement Date,” shall have the same meaning as that the term is set forth in Section 3.2 of the Summary, and “Phase One Premises Lease Commencement Date”. The Lease Term shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and the last Lease Year shall end on the Lease Expiration Date. If Landlord does not deliver possession of the applicable portion of the Premises to Tenant on or before the applicable anticipated Phase One Premises Lease Commencement Date and/or Phase Two Premises Lease Commencement Date (as set forth in Section 7.3 of the Summary), then Tenant shall be entitled to receive an abatement of Base Rent, and Tenant’s Share of Direct Expenses equal to one (1) day for every one (1) day of delay beyond the Phase One Premises Lease Commencement Date or Phase Two Premises Lease Commencement Date, as applicable, provided that the delay is not caused by Force Majeure events or any delays caused by Tenant. In the event Landlord does not deliver possession of the applicable portion of the Premises to Tenant on or before that date which is sixty (60) days after the anticipated Phase One Premises Lease Commencement Date and/or the applicable anticipated Phase Two Premises Lease Commencement Date, then Tenant (in lieu of the day for day abatement provided above), shall be entitled to receive an abatement of Base Rent and Tenant’s Share of Direct Expenses equal to two (2) days for every one (1) day beyond such sixty (60) day period in Landlord’s delivery of the applicable portion of the Premises to Tenant (subject to extension due to Tenant Delays and Force Majeure delays). At any time during the Lease Term, Landlord may deliver to Tenant a notice an amendment to this Lease confirming the applicable Lease Commencement Date and Lease Expiration Date, in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided. In the event that Landlord does not deliver such amendment to Tenant, however, Tenant’s failure the Phase One Premises Lease Commencement Date and the Phase Two Premises Lease Commencement Date shall be deemed to be the anticipated Phase One Premises Lease Commencement Date and the Phase Two Premises Lease Commencement Date set forth in Section 7.3 of the Summary. Failure of Tenant to execute and return deliver such notice to Landlord within such time amendment shall be conclusive upon constitute an acceptance of the Premises by Tenant that as of the information date set forth in the amendment signed by Landlord and such notice is as specified therein. In addition to date shall, for all purposes of this Lease, be the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Phase One Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Lease Commencement Date and ending on the date Landlord so tenders possession of the Phase Two Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLease Commencement Date (as applicable).
Appears in 2 contracts
Samples: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date (or, if applicable, the last day of the Option Term). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, that if such notice is not factually correct, then Tenant shall make such changes as are necessary to make such notice factually correct and shall thereafter return such notice to Landlord within said ten (10) business day period. Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Samples: Lease (Synthorx, Inc.), Lease (Synthorx, Inc.)
Lease Term. The terms 3.1 Both Parties hereby acknowledge and provisions agree to terminate the warehouse lease under the Initial Chemical Warehouse Lease Agreement without any limitation or reservation.
3.2 For the Leased Area, the Parties agree that the Lease Term shall begin on November 1, 2014 until the date that SKE decides to terminate the Warehouse Building lease.
3.3 After the Warehouse Building lease commences, SKE shall give notification in writing not less than thirty (30) days before the expiration of the Lease Term to terminate the Warehouse Building lease.
3.4 Ding Hong shall not terminate this Lease Agreement without SKE's written approval. During the Lease Term, the items relating to the Rental set forth in Article 5 of this Lease Agreement shall be effective as adjusted biannually on the basis of the date of this Lease. The term of this Lease (market prices after consultation and agreement between the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. Parties.
3.5 If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver Ding Hong receives from a third party a bona fide, legally binding offer to Tenant a lease the portion of the Warehouse Building not already leased by SKE, Ding Hong shall notify SKE of this fact. The notice shall specify all the terms of the bona fide third party offer. SKE shall then have thirty (30) days to lease that portion of the Warehouse Building specified in the form as third party’s bona fide offer for the rent and related details set forth in Exhibit C, attached hereto, as a confirmation only Articles 4 and 5. Ding Hong shall not lease any portion of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject Leased Area to any delays caused by Tenant or any Tenant third party until the thirty (30) days has expired without SKE exercising its right of first refusal. Any other terms not specified in this Lease Agreement regarding the Leased Area, both Parties shall negotiate and events of Force Majeure, if Landlord fails to tender possession sign a supplemental agreement for these unspecified terms. Such signed supplemental agreement shall constitute a part of the Premises to Tenant on or before January 2, 2015 (entire Lease Agreement and shall have the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on same effectiveness as the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowentire Lease Agreement.
Appears in 2 contracts
Samples: Chemical Warehouse Lease Agreement, Chemical Warehouse Lease Agreement (Diodes Inc /Del/)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided. Landlord shall endeavor to provide access to the Premises following vacation of the Premises by the existing Tenant, howeverwhich Landlord anticipates will be March 1, Tenant’s failure 2020. Notwithstanding that such delivery shall occur prior to execute and return such notice the Lease Commencement date, Landlord hereby acknowledges that Tenant shall not be obligated to Landlord within such time shall be conclusive upon Tenant that commence paying Rent under this Lease until the information set forth in such notice is as specified thereinLease Commencement Date. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders has not delivered possession of the Premises to Tenant. Any , (1) on or May 1, 2020, then, as Tenant's sole remedy for such Base Rent Abatement delay, the date Tenant is otherwise obligated to commence payment of shall be separate from and delayed by one day for each day that the delivery date is delayed beyond May 1, 2020, or (2) August 1, 2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be reimbursed to Tenant. The foregoing dates shall be extended to the extent of any delays in addition delivery of possession caused by war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any Rent Abatement described in Section 3.2 belowaction or inaction of Landlord (provided that any such delay shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease is fully executed. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Rent Commencement Date and each consecutive subsequent twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C2.1, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, but execution of such instrument shall not be a condition to Lease commencement or Tenant’s failure obligations hereunder. Landlord shall endeavor to execute and return such notice provide to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition Tenant, without any obligation to pay Rent, early access to the foregoing, subject Premises approximately ten (10) days before the Rent Commencement Date in order to any delays caused allow Tenant to prepare the Premises for the conduct of its business (by Tenant or any Tenant Parties installing equipment and events of Force Majeure, if trade fixtures). If Landlord fails is unable to tender possession of deliver the Premises to Tenant on or before January 2the Estimated Lease Commencement Date, 2015 (Landlord shall use commercially reasonable efforts to deliver the “Base Rent Delivery Date”)Premises to Tenant as soon as is reasonably practicable thereafter, and in such an event, this Lease shall remain in full force and effect, but Tenant shall have no obligation to commence paying Rent and the Rent Commencement Date and Lease Expiration Date shall be entitled to one (1) day of per diem Base Rent abatement commensurately deferred for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of delay in Landlord’s delivery to Tenant of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowPremises.
Appears in 2 contracts
Samples: Lease Agreement (Organovo Holdings, Inc.), Lease (Organovo Holdings, Inc.)
Lease Term. The Subject to the terms and provisions of this Lease shall be effective as of the date of conditions set forth in this Lease, Landlord agrees to lease to Tenant and Tenant agrees to hire from Landlord, the Demised Premises. The term of this Lease (the “Lease Term”) shall commence on the date hereof (the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary”) and, and shall terminate on the date that is three (3) weeks after the Closing Date (as defined in Order Pursuant to 11 U.S.C. §§ 105(a) and 365 and Fed. R. Bankrp. P. 9019, The Plan and Confirmation Order (I) Approving Settlement, (II) Authorizing Assumption and Assignment of Unexpired Lease of Non-Residential Real Property Located at One Syms Way, Secaucus, New Jersey and (III) Granting Related Relief) (the “Fixed Termination Date”), or upon such earlier date upon which the Term of this Lease Expiration Date,” as that term is set forth in Section 3.3 shall expire, be canceled or be terminated pursuant to any of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity conditions or covenants of this Lease or pursuant to law (the date upon which this Lease actually terminates pursuant to the terms hereof, being hereinafter referred to as the “Termination Date”). Subject to the terms and conditions set forth herein, Tenant shall have the right to surrender the Demised Premises to Landlord prior to the Fixed Termination Date by providing Landlord with notice (“Termination Notice”) thereof not less than five (5) Business Days (as hereinafter defined) prior to the date that Tenant actually surrenders the Demised Premises to Landlord. The Termination Notice shall designate the Termination Date, which date shall in no event be later than the Fixed Termination Date, and upon such designated Termination Date, Tenant shall vacate and surrender the Demised Premises in accordance with the terms hereof and all of the parties rights and obligations of Tenant hereunderhereunder shall terminate, except for those rights and obligations which expressly survive termination hereof. For purposes of As used in this Lease, Lease the term “Lease YearBusiness Day” shall mean each consecutive twelve (12) month period during all days except Saturdays, Sundays and days observed by the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form federal or New Jersey state government as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowlegal holidays when government offices are closed.
Appears in 2 contracts
Samples: Assignment of Ground Lease, General Assignment and Bill of Sale, Assignment of Ground Lease, General Assignment and Bill of Sale (Trinity Place Holdings Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January July 1, 2015, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each two (2) days that the delivery date is delayed beyond such date, 2015 (2) on or before August 1, 2015, then, as Tenant’s sole remedy for such delay (in addition to the “Base Rent Delivery Date”delay in subpart (1)), the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one additional day for each day that the delivery date is delayed beyond such date, or (3) October 1, 2015, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industrywide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord.
Appears in 2 contracts
Samples: Lease (RAPT Therapeutics, Inc.), Lease (RAPT Therapeutics, Inc.)
Lease Term. The terms and provisions of this (a) This Lease shall be effective as continue in force during a period beginning on Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated or extended to a later date under any other term or provision hereof.
(b) If by the date specified as hereinafter provided. the Commencement Date in Paragraph 1(d), the Premises have not been substantially completed pursuant to the Work Letter due to omission, delay or default by Tenant hereby acknowledges that or anyone acting under or for Tenant or due to any cause other than Landlord's default, Landlord shall have no liability for such failure to complete, and the obligations of this Lease (including without limitation the obligation to pay rent) shall nonetheless commence as of said Commencement Date.
(c) If however the Premises are currently occupied not substantially completed by another tenant the date specified as the Commencement Date in Paragraph l(d) and such failure to complete is due to default on the part of Landlord, then, as Tenant's sole remedy for the delay in Tenant's occupancy of the Building. If Premises, the Commencement Date shall be delayed (and the rent herein provided shall not commence) until the earlier of either (i) the date of actual occupancy by Tenant or (ii) the date of substantial completion of the work which Landlord is unable for any reason has agreed to deliver perform.
(d) Tenant agrees to accept possession of the Premises when the Building Standard Improvements to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice Premises as provided in the form as set forth in Exhibit CWork Letter have been substantially completed. If there are any finishing touches remaining to be done which will not materially interfere with the conduct of Tenant's business on the Premises, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession will nevertheless accept delivery of the Premises and allow Landlord to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any complete such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfinishing touches.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Zix Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the SummarySummary (as may be extended pursuant to Section 2.2 below, the “Lease Expiration Date”) unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date (or, if applicable, the last day of the Option Term). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall either execute and return return, or provide corrections to any factual errors therein, to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s that the failure of the parties to execute and return such notice to Landlord within such time letter shall be conclusive upon Tenant that not defer the information set forth in such notice is as specified thereinLease Commencement Date or otherwise invalidate this Lease. In addition Notwithstanding anything to the foregoingcontrary in this Lease, subject it is a condition precedent to any delays caused by the effectiveness of this Lease that Landlord and Tenant or any Tenant Parties and events of Force Majeureenter into a commercially reasonable termination agreement terminating, if Landlord fails to tender possession as of the Premises to Lease Commencement Date hereof, that certain existing lease between Landlord and Tenant on or before January 2for the premises located at 00000 Xxxxxxx Xxxxxx Xxxxx, 2015 (the “Base Rent Delivery Date”)Xxx Xxxxx, Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowXxxxxxxxxx.
Appears in 2 contracts
Samples: Lease (Decipher Biosciences, Inc.), Lease (Decipher Biosciences, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be for six (6) years, and shall, subject to Section 1(e) below, commence on the later of (i) the date of Substantial Completion (as defined in the Tenant Work Letter attached as Exhibit G) by Landlord of the Tenant Improvements (as defined in the Tenant Work Letter attached as Exhibit G), subject to Punch List Work (as defined in the Tenant Work Letter attached as Exhibit G), and (ii) June 1, 2009 (the “Lease Scheduled Commencement Date,” ”) (the actual date that the Lease Term commences in accordance with this Section 1(c) being referred to herein as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Commencement Date”), and, subject to any extension as in this Section 1(c), shall end on May 31, 2015 (the “Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building”). If Landlord is unable fails to deliver possession of Premises to Tenant in the condition required by this Lease on the Scheduled Commencement Date, Landlord shall not be liable for any reason damage caused thereby, nor shall this Lease become void or voidable, but in such event, no Monthly Base Rent (as defined in Section 1(h) below) or Additional Rent shall be payable by Tenant to deliver Landlord until Landlord delivers possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect in the validity of this Lease or the obligations of Tenant hereunder. For purposes of condition required by this Lease, and the term Expiration Date shall be extended by the same number of days as the delay in delivery of possession of the Premises. Notwithstanding the foregoing, if the Commencement Date has not occurred within ninety (90) days of the Scheduled Commencement Date (subject to events of force majeure), Tenant shall have the right to terminate this Lease, without penalty, by delivering written notice thereof to Landlord (the “Termination Notice”), which termination shall be effective ten (10) days from receipt by Landlord of the Termination Notice (the “Termination Effective Date”). This Lease Year” shall mean each consecutive twelve (12) month period during terminate upon the Lease Term. At Termination Effective Date and neither party shall thereafter have any time during the Lease Termfurther rights or obligations hereunder except as expressly provided herein, and Landlord may deliver shall return to Tenant a notice the Security Deposit (as defined in the form as set forth Section 1(i) below) and any prepaid Monthly Base Rent (defined in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord Section 1(h) below) within ten (10) business days of receipt thereof; providedafter the Termination Effective Date, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition unless prior to the foregoingTermination Effective Date, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of delivers the Premises to Tenant on or before January 2, 2015 (in the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowcondition required by this Lease.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Tableau Software Inc)
Lease Term. (a) The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease (the “Lease Initial Term”) shall commence be for a period commencing as of the Substantial Completion Date (as defined in Exhibit A attached hereto) (the “Commencement Date”) and expiring on the “Lease Commencement Date,” as that term is set forth in Section 3.2 last day of the Summary, and shall terminate on calendar month in which occurs the twentieth (20th) anniversary of the Substantial Completion Date (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is terminated sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of provided in this Lease, the term “Lease Year” shall mean each consecutive successive twelve (12) month increment thereof being sometimes referred to herein as a “Lease Year”, except that the first Lease Year shall be the period during commencing on the Commencement Date and expiring on the last day of the calendar month in which occurs the first (1st) anniversary of the Commencement Date.
(b) Tenant shall have two (2) successive five (5) year options to extend the Initial Term (each an “Option Term” and collectively, the “Option Terms”) upon the same terms and conditions then in effect, except as expressly otherwise provided herein, exercisable by the delivery of written notice to Landlord by Tenant not less than twelve (12) months prior to the expiration of the Initial Term or the then current Option Term, as the case may be,. The Initial Term and all Options Terms, if applicable, are collectively referred to as the “Lease Term. At any time ” or the “Term”.
(c) The Base Monthly Rent rate payable during an Option Term shall equal the Lease Termgreater of: (i) the annual Base Monthly Rent payable immediately prior to the commencement of such Option Term multiplied by multiplied by one hundred two and 50/100 percent (102.50%), and (ii) the then Fair Market Rent (as defined below) for the Premises.
(d) If Tenant exercises an Option Term as provided herein, Landlord may deliver to Tenant a notice in shall make the form as set forth in Exhibit C, attached hereto, as a confirmation only initial determination of the information set forth therein, which annual Fair Market Rent. Landlord shall notify Tenant in writing (the “FMR Notice”) of Landlord’s determination of the Fair Market Rent within thirty (30) days following receipt of Tenant’s renewal notice. Tenant shall execute notify Landlord in writing thirty (30) days of its receipt of Landlord’s FMR Notice whether or not it accepts Landlord’s determination of Fair Market Rent. If Tenant accepts Landlord’s determination, the Fair Market Rent shall be final and return binding and Landlord shall prepare an amendment to this Lease that amends the Base Monthly Rent to reflect the new Fair Market Rent. Tenant’s failure to respond to Landlord’s FMR Notice within the thirty (30) day period shall be deemed an acceptance by Tenant of Landlord’s determination of Fair Market Rent. If Tenant delivers written notice (“Tenant’s Rejection Notice”) to Landlord within the thirty (30) day period rejecting Landlord’s determination of Fair Market Rent, the Parties agree to negotiate their differences in good faith within thirty (30) days (the “FMR Negotiation Period”) following Landlord’s receipt of Tenant’s Rejection Notice. If the parties fail to agree on a Fair Market Rent within the FMR Negotiation Period, then the parties agree to obtain an appraisal to determine the Fair Market Rent in accordance with the terms and conditions contained below.
(e) Landlord and Tenant each shall, within ten (10) business days following the expiration of receipt thereof; providedthe FMR Negotiation Period, however, select an appraiser. Landlord’s appraiser and Tenant’s failure appraiser shall then, within ten (10) days following their appointment, designate a third appraiser. If the two appraisers cannot agree on the third appraiser within the ten (10) day period, Landlord and Tenant shall promptly make application to execute a court of competent jurisdiction seated in the county in which the Premises is located, to name the third appraiser. Each of the three appraisers shall: (i) be MAI certified by the Appraisal Institute/a member of the American Institute of Real Estate Appraisers or comparable organization; (ii) be licensed in the State of South Carolina; and return (iii) have a minimum of ten (10) years’ experience in the business of appraising or managing commercial real estate or acting as a commercial real estate broker or agent in the vicinity of Summerville, South Carolina.
(f) Within twenty (20) days after his appointment, the third appraiser acting as an expert and not as an arbitrator, shall choose either the appraised value, made by either the Landlord’s appraiser or Tenant’s appraiser and such notice to Landlord within such time choice of the third appraiser. The third appraiser shall be conclusive upon Tenant limited to awarding only one or the other of the two figures submitted by the parties’ appraisers. In any litigation between the parties in which the determination of the appraiser is at issue, the determination shall be final and binding on the parties unless the court finds that the information set forth selected appraised value is clearly erroneous.
(g) For the purposes of this Section, the term “Fair Market Rent” shall mean the rent paid by commercial tenants in such notice the vicinity of Summerville, South Carolina, taking into account: (i) the transaction is as specified therein. In addition to an “arm’s length” transaction; (ii) the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession value of the Premises to Tenant on or before January 2, 2015 (property is for the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing land and the improvements located on the day after land; and (iii) the Base Rent Delivery Date and ending on the date Landlord so tenders possession of value is determined as the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowis currently then being used.
Appears in 1 contract
Lease Term. The terms (a) Tenant shall have and provisions hold the Premises for a term (“Term”) commencing on the Commencement Date set forth above and shall terminate at midnight on the last day (the “Expiration Date”) of this Lease shall be effective the one hundred twentieth (120th) full calendar month following the Commencement Date, unless sooner terminated or extended as hereinafter provided.
(b) Following the Commencement Date and thereafter during the Term (excluding any holdover period), so long as, both as of the exercise date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” and as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” first day of each Extended Term (as that term is set forth in Section 3.3 of the Summary, unless hereinafter defined) this Lease is sooner terminated as hereinafter provided. in full force and effect and no default has occurred and then still continues beyond the expiration of any applicable notice and cure period and no facts or circumstances then exist which, with the giving of notice or the passage of time, or both, would constitute a default (in which event Landlord agrees that Tenant shall have a notice and cure period within which to cure such an event equivalent to the notice and cure period, if any, that would be afforded to Tenant under this Lease had such event ripened into a default hereunder), Landlord hereby acknowledges that grants to Tenant two (2) options to extend the Premises are currently occupied by another tenant of the Building. If Landlord is unable for Term with respect to all but not any reason to deliver possession lesser portion of the Premises for successive periods of five (5) years each (each “Extended Term”), beginning immediately upon the expiration of the Term for the first Extended Term and beginning immediately upon the expiration of the first Extended Term for the second Extended Term, such options to be exercised by Tenant on any specific date , then giving written notice of its exercise to Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect in the validity of manner provided in this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive at least twelve months (12) month period during months prior, but not more than fifteen (15) months prior, to the Lease expiration of the Term for the first Extended Term and the expiration of the first Extended Term for the second Extended Term. At any time during Time is of the Lease essence with respect to the foregoing. Tenant may not exercise the option for the second Extended Term unless it exercised the option for the first Extended Term.
(c) If Tenant exercises an option to extend the Term, Landlord may deliver to shall, within thirty (30) days after the receipt of Tenant’s notice of exercise, notify Tenant a notice in writing of Landlord’s reasonable determination of the Base Rent for the Premises for the applicable Extended Term, which amount shall be one hundred percent (100%) of the rate for base minimum rental then announced by landlords and tenants in comparable leases of comparable size in comparable buildings (including, the Building) in the form market of metropolitan Atlanta, Georgia during the applicable Extended Term, taking into account all relevant factors (including, but not limited to, size of space, location of space within the building, signage rights, age, location and quality of building, length of term, credit standing of tenant, tenant improvement contributions, leasing commissions and rent concessions), and calculated on a per square foot basis.
(d) Except for the Base Rent, which shall be determined as set forth in Exhibit Csubparagraph C above, attached hereto, as a confirmation only leasing of the information Premises by Tenant for the applicable Extended Term shall be subject to all of the same terms and conditions set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofin this Lease; provided, however, that rent abatements (other than any abatements under Article 26 or Article 28 hereunder) or other concessions applicable to the Premises during any prior period shall not be applicable during any Extended Term (unless otherwise mutually acceptable to both Landlord and Tenant in the sole discretion of each at the time Tenant exercises its option(s) to extend). Landlord and Tenant shall enter into an amendment to this Lease to evidence Tenant’s failure to execute and return such notice exercise of the applicable extension option. If this Lease is guaranteed now or at any time in the future, Tenant simultaneously shall deliver to Landlord within such time shall be conclusive upon Tenant that the information set forth an original, signed reaffirmation of each guarantor’s guaranty, in such notice is as specified therein. In addition form and substance acceptable to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLandlord.
Appears in 1 contract
Lease Term. 7.1 The Lease Term begins on the date that has been recorded for this purpose in the Delivery Protocol of the Warehouse part of the Property, in the event that its delivery is carried out on a date other than the Offices part of the Property (the “Start Date”).
7.2 The Lease Term is set within the determined period of five (5) years from the Start Date.
7.3 The Lease Term shall be automatically extended for successive periods of three (3) years each until the Lease reaches a maximum duration of eleven (11) years, unless the Tenant notifies the Landlord in writing, at least six (6) months prior to the end of the term of each of the extensions, of its decision not to extend it.
7.4 For the avoidance of doubt, in the event that the Landlord does not receive the notification referred to in the previous Clause, it shall be understood that the Tenant has granted its agreement to the extension of the Agreement in the indicated terms. The duration of each extension shall be mandatory.
7.5 This Lease may only be terminated prior to the end of the Lease Term for the reasons provided for in Clause 18. This Lease may only be automatically extended in the event and in the terms established in Clause 7.3, without the tacit renewal provided for in Article 1566 of the Civil Code being applicable.
7.6 The Lease Term and provisions the term of any of the extensions that are applicable in accordance with Clause 7.3 are mandatory for both parties, so that the Tenant may not terminate the Lease prior to the end of the Lease Term or any of the extensions that are in progress. The Tenant expressly accepts that the mandatory nature of the initial Lease Term and, if applicable, of any of its extensions constitutes an essential element of this Lease shall be effective as of agreement, determining the date Landlord’s willingness to proceed with the execution of this Lease. The term Consequently, any waivers, unilateral or early termination of this Lease (Agreement by the “Lease Term”) shall commence on Tenant that takes place prior to the “Lease Commencement Date,” as that term is set forth in Section 3.2 end of the Summary, Lease Term or any of its ongoing extensions - regardless of whether it occurs under applicable law (e.g. insolvency proceedings)- shall be considered a serious breach of this Agreement and shall terminate on entitle the “Lease Expiration Date,” as that term is set forth in Section 3.3 Landlord to demand from the Tenant a conventional penalty consisting of an amount equal to the amount of the SummaryRent corresponding to the Lease Term or the ongoing extension remaining to be fulfilled (plus the one that is applicable, unless where appropriate, pursuant to Clause 2.11 and/or 18.6). This conventional penalty has been freely agreed by the Parties and constitutes the amount in which both quantify the damages caused to the Landlord for the breach of this essential obligation to remain for the entire Lease is sooner terminated as hereinafter providedTerm and, where applicable, the extensions. The Tenant hereby acknowledges that expressly accepts the Premises are currently occupied by another tenant proportionality of this penalty in consideration of the Building. If Landlord is unable for any reason to deliver possession essential nature of the Premises Lease Term or any of its extensions and expressly waives the right to Tenant on exercise any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect actions aimed at the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only judicial moderation of the information set forth therein, which Tenant shall execute penalty or to delay or avoid its fulfillment and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowexecution.
7.7 [***]
Appears in 1 contract
Samples: Non Residential Lease Agreement (RMG Acquisition Corp. III)
Lease Term. 3.1. The terms and provisions of this Premises are leased until October 31, 2024 (hereinafter referred to as the "Lease shall be effective as of Term"). The lease term starts from the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession transfer of the Premises to Tenant on any specific date the Lessee.
3.2. The Lessee, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect having complied with their obligations under the validity Agreement throughout the term of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, shall have the right to conclude a new Lease Agreement for an additional term “Lease Year” shall mean each consecutive twelve (12) month period during upon the expiry of the Lease Term. At any time during The Lessor must ensure that, in case of renewal of the Lease Agreement, the total lease period is no longer than 10 years. The Lessor shall inform the Lessee in writing at least 2 (two) months prior to the expiry of the Lease Term of the offer to conclude a new Lease Agreement for the additional term, specifying the Term of the Lease, the Lease and other lease terms that the Lessor considers important. The Lessee shall reply to the Lessor in writing not later than within 1 (one) month from the date of receipt of the Lessor's notification whether it agrees to conclude the Lease Agreement for an additional term. If the Lessee fails to reply in writing to the Lessor within 1 (one) month from the date of receipt of the notification, the Lessee shall be deemed to refuse to enter into a Lease Agreement for an additional term under the conditions offered by the Lessor.
3.3. The Lessor shall have the right not to extend the term of the Agreement and/or not to conclude a Lease Agreement for a new term, if the Lessor has issued at least one well-founded written warning (complaint) regarding a breach of the provisions of the Agreement to the Lessee before the expiry of the Lease term. In such a case, upon the expiry of the Lease Term, Landlord may deliver the Lessor shall have the right (but shall not be obliged) to Tenant a notice offer the Lessee to lease the Premises under the same or new conditions and terms specified by the Lessor at the discretion of the Lessor.
3.4. At the end of the Lease, the Lessee shall immediately, but no later than within 3 (three) business days after the expiry of the Agreement, vacate the Premises and return them to the Lessor in the form same condition as they have been received by the Lessee, taking into account normal depreciation of the Premises, and the Lessor shall accept the properly vacant Premises according to the Transfer-Receipt Act signed by both Parties.
3.5. If the Lessee delays returning the Premises in accordance with the procedure set forth in Exhibit CClause 3.4 of this Agreement, attached heretothe Lessee shall pay the Lessor the Lease Fee, other payments specified in the Agreement and the compensation in the sum of the Lease Fee for the period of the delay in returning the Premises, as a confirmation only well as other loss incurred by the Lessor because of the information set forth thereindelay. If the Lessee delays the return of the Premises for more than 30 (thirty) calendar days, in accordance with paragraph 3.4 of this Agreement, the Lessor shall have the right to enter the premises at any time, remove all items in it, and use, manage, and maintain the premises at their discretion. The Lessor shall transfer the items left in the premises by the Lessee to a separate room and keep them for 30 (thirty) calendar days, during which Tenant the Xxxxxx, having agreed the time in advance, has the right to collect the items. At the end of this term and in case the Lessee does not return, the property shall execute be removed from the Premises and return the Lessor shall have the right to Landlord dispose of the items left by the Lessee without a separate notice. In this case, the Lessee undertakes to pay the costs of removal, storage and disposal of the items removed from the premises within ten 3 (10three) business days of from receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowVAT invoice.
Appears in 1 contract
Samples: Tangible Property Lease Agreement
Lease Term. The terms and provisions of this the Lease shall be ---------- effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 5.1 of the Summary, shall commence on the “Lease Commencement Date,” date which is the earlier to occur of (i) the date Tenant opens for business in the Premises, and (ii) the date of "Substantial Completion", as that term is set forth defined in Section 3.2 the Article 2, of the SummaryPremises by Landlord ("Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 5.4 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the eleventh month thereafter and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. For purposes of this Lease, "Substantial Completion" of the Premises shall occur upon completion of construction, as reasonably determined by Landlord, of the "Tenant Improvements," as that term is defined in the Tenant Work Letter, in the Premises pursuant to the plans and drawings which are prepared pursuant to the terms of the Tenant Work Letter, with the exception of any punch list items and any tenant fixtures, work-stations, built-in furniture, or equipment to be installed by Tenant in the Premises pursuant to the terms of the Tenant Work Letter or to be installed under the supervision of "Contractor" as that term is defined in the Tenant Work Letter (the "Tenant Work"). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit CB, attached hereto, as a confirmation only of the information set forth therein, hereto which notice Tenant shall execute and return to Landlord within ten five (105) business days prior of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Office Lease (Venture Catalyst Inc)
Lease Term. (a) The terms and provisions term of this the Lease shall be effective comprised of a Delivery Term, Acceptance Term and Base Term. The Delivery Term for each Item shall commence on the date the Item is delivered to Lessee and shall end on the Acceptance Date. The Acceptance Term shall commence on the Acceptance Date, as set forth in the Acceptance Certificate, and terminate on the first day of the calendar quarter following the Acceptance Date for the last Item to be installed (“Base Term Commencement Date”). The Base Term of the Lease shall begin on the Base Term Commencement Date, and shall, subject to Section 19(d) hereof, end on the last day of the month of the Base Term. The date of acceptance (“Acceptance Date”) for any Item shall be the earlier of either (i) the date as set forth in the Acceptance Certificate, or (ii) if Lessee does not, for any reason, sign an Acceptance Certificate the date shall be the date Lessee received the Equipment.
(b) In the event Lessee requests, for its benefit, that Lessor advance payments to supplier(s) or manufacturer(s) of the Equipment (collectively “Supplier(s)”) during the period prior to Lessee’s delivery of the Acceptance Certificate and make progress payments to such Supplier(s) or otherwise reimburse Lessee for deposits, if any, made to such Supplier(s) (all such Lessor payments and reimbursements collectively referred to as “Progress Payments”), Lessor may, in its sole discretion, accommodate such requests by Lessee, and make such Progress Payments pursuant to the terms provided for in this Section 2(b). Lessee shall pay to Lessor a daily pro rata rental fee from the date each Item of Equipment is delivered (such delivery to be confirmed by Lessee) (the “Partial Acceptance Date”) through the Acceptance Date, as defined in Section 2(a) above, calculated by multiplying the Base Lease Rate Factor specified in the applicable Schedule times the amount of such Progress Payment divided by thirty (30). This pro rata rental fee will be billed monthly to Lessee. If all of the Equipment to be included in the applicable Schedule is not accepted by Lessee within ninety (90) days of the date of this Lease. The term Lessor’s execution of this Lease the applicable Schedule (the “Lease TermFunding Cut-Off Date”), Lessor may, at its sole discretion, pursue any one of the following options: (i) shall commence the term of any Schedule (using the Funding Cut-Off Date as the Acceptance Date) based on the “Lease Commencement Date,” as that term is set forth in Section 3.2 portion of the Summary, Equipment that has been delivered to Lessee and shall terminate on the “Lease Expiration Date,” paid for by Lessor as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges Funding Cut-Off Date; (ii) extend the Acceptance Term and establish a new Funding Cut-Off Date; or (iii) demand that the Premises Lessee pay to Lessor a total amount equal to all Progress Payments paid to Supplier(s) on behalf of Lessee, plus all pro rata rentals, taxes, late fees and other payments which are currently occupied due and owing under this Master Lease. Should such demand be made by another tenant of the Building. If Landlord is unable for any reason Lessor, Lessee hereby unconditionally agrees to deliver possession of the Premises reimburse said amounts to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice Lessor in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord full within ten (10) business days of said demand, and upon receipt thereof; providedof said payment in full, howeverLessor shall release Lessee from further payment obligations under the Master Lease. Lessor hereby reserves the right to terminate this Acceptance Term at any time if Lessor determines, Tenantat Lessor’s failure to execute and return such notice to Landlord within such sole discretion, that there has been an adverse change in Lessee’s financial condition, at which time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 Lessor may elect either (the “Base Rent Delivery Date”i), Tenant shall be entitled to one (1ii), or (iii) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowabove.
Appears in 1 contract
Samples: Master Lease Agreement (Sento Corp)
Lease Term. The (a) Subject to and upon the terms and provisions conditions set forth in the Lease, or in any exhibit attached hereto, the primary term of this Lease shall commence on the Commencement Date and shall expire on the last day of the fifty-sixth (56th) month following the Commencement Date or such earlier date as this Lease may terminate as provided herein, but in no event later than August 31, 2009 (the “Expiration Date”). The “Lease Term” of this Lease shall be effective the primary term specified in this Section 2.01, as renewed or otherwise extended or earlier terminated pursuant to the terms and provisions set forth herein. If the Commencement Date is not the first day of a calendar month, then the Lease Term shall be extended by the time between the Commencement Date and the first day of the date of this Lease. The term of this Lease next month.
(b) After the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set , Landlord and Tenant shall promptly, upon the request of either of them, execute and deliver to each other an agreement setting forth in Section 3.2 of the Summary, Commencement and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Dates.
(c) Landlord and Tenant hereby acknowledges currently anticipate that the Premises are currently occupied by another tenant of Tenant Finish Work (as defined in the Building. If Landlord is unable for any reason to deliver Tenant’s Work Letter) will be Substantially Completed and possession of the Leased Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises delivered to Tenant on or before January 2November 15, 2015 2004 (the “Base Rent Delivery Scheduled Commencement Date”). If the Tenant Finish Work is not Substantially Completed on the Scheduled Commencement Date, Tenant shall be entitled to one (1) day of per diem Base Rent abatement Landlord shall not be in default hereunder or be liable for each day commencing on damages therefore, (ii) the day after Commencement Date as defined in the Base Rent Delivery Date and ending on Basic Lease Provisions shall be the date that Landlord so tenders the Leased Premises to Tenant Substantially Completed and (iii) Tenant shall accept possession of the Leased Premises when Landlord tenders possession thereof to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowTenant Substantially Completed.
Appears in 1 contract
Samples: Lease Agreement (Matinee Media CORP)
Lease Term. The terms and provisions Commencement Date listed in Section 1 of this Lease shall be effective as represents an estimate of the date of this LeaseCommencement Date. The term of this This Lease (the “Lease Term”) shall commence on the “estimated Commencement Date if there is no Landlord's Work required under this Lease. If Landlord's Work is required under this Lease, then this Lease shall commence on the estimated Commencement Date,” Date if Landlord's Work is substantially completed (as that term is set forth used in Section 3.2 the construction industry) by such date, but otherwise the Commencement Date shall be the first to occur of the Summaryfollowing events (i) the date on which Landlord notifies Tenant that Landlord's Work is substantially complete, and shall terminate (ii) the date on the “Lease Expiration Date,” as that term is set forth in Section 3.3 which Tenant takes possession or commences beneficial occupancy of the SummaryPremises, unless or (iii) if substantial completion of Landlord's Work is delayed due to Tenant's failure to perform its obligations under this Lease, then the date determined by Landlord as the date upon which Landlord's Work would have been substantially completed, but for Tenaxx'x failure to perform. If this Commencement Date is later than the Section 1 Commencement Date, this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject void or voidable, nor shall Landlord be liable to Tenant for any liability loss or damage resulting therefrom. Landlord shall confirm the Commencement Date by written notice to Tenant. This Lease shall be for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the a term “Lease Year” shall mean each consecutive twelve (12) month period during the "Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10") business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing beginning on the day after the Base Rent Delivery Commencement Date and ending on the Expiration Date, unless extended or sooner terminated in accordance with the terms of this Lease. All provisions of this Lease, other than those relating to payment of Base Monthly Rent and Tenant's Share of Expenses, shall become effective on the earlier of xxx Commencement Date or the date Landlord so tenders possession of that Tenant or its officers, agents, employees or contractors is first present on the Premises to Tenant. Any such Base Rent Abatement shall be separate from and for inspection, construction or move in addition to any Rent Abatement described in Section 3.2 belowpurposes.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease (a) Notwithstanding anything to the contrary contained in the Sublease Agreement, the Sublease Commencement Date shall be effective as of the date of this LeaseOctober 1, 2001. The term of this Lease applicable to the Additional Sublease Premises only (the “Lease "Additional Sublease Premises Term”") shall commence on the “Lease Commencement Date,” as date that term is set forth in Section 3.2 of Landlord consents to this First Amendment and Sublandlord vacates the SummaryAdditional Sublease Premises and notifies Subtenant thereof, and the Additional Sublease Premises Term shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summaryend, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the provided herein, on December 31, 2001 ("Additional Sublease Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12Expiration Date") month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure that in the event Sublandlord shall have failed to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that vacate the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Additional Sublease Premises to Tenant on or before January 2November 15, 2015 2001 or Landlord shall have failed to consent to this First Amendment on or before November 15, 2001, then Subtenant shall have the right to terminate this First Amendment upon written notice to Sublandlord. Sublandlord will remove all of its moveable personal property from the Additional Sublease Premises prior to vacating the same.
(b) If Sublandlord vacates the “Base Rent Delivery Date”)Additional Sublease premises on or before October 24, Tenant shall be entitled 2001, Subtenant will reimburse Sublandlord up to one ($15,000 of Sublandlord's reasonable expenses incurred in connection therewith. If Sublandlord vacates the Additional Sublease Premises after October 24, 2001 but on or before November 1) day , 2001, Subtenant will reimburse Sublandlord up to $10,000 of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to TenantSublandlord's reasonable expenses incurred in connection therewith. Any reimbursement of expenses required under this section 3(b) will be paid to Sublandlord within twenty (20) days after Subtenant's receipt of a statement from Sublandlord setting forth such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowexpenses.
Appears in 1 contract
Lease Term. (a) The terms and provisions initial term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (the “Lease 10) years ("Term”") and shall commence on the “Lease date hereof ("Commencement Date,” as that term is set forth in Section 3.2 ") and shall ---- ----------------- terminate 5:00 P.M. local time on the tenth (10th) anniversary of the Summary, and shall terminate on Commencement Date (the “Lease "Expiration Date,” as "). ---------------
(b) Provided that term Tenant is set forth not in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes default of this Lease, Tenant shall have the option to renew this Lease for three (3) renewal terms of five (5) years each commencing upon the expiration of the initial ten (10) year Term or any previous renewal term, as the case may be, and ending at 5:00 P.M. local time five (5) years thereafter, unless any such renewal term “shall sooner terminate in accordance with this Lease Year” or otherwise; provided that (i) Tenant shall mean each consecutive twelve have notified Landlord in writing of Tenant's exercise of such renewal option not later than six (126) month months prior to the expiration of the initial Term hereof or the then existing renewal term, as the case may be, (ii) at the time such notice is given, this Lease shall be in full force and effect and Tenant shall not be in default hereunder for such period of time as would entitle Landlord to terminate this Lease pursuant to the terms hereof. Such renewal terms shall be upon all of the agreements, terms, covenants and conditions hereof except that Tenant shall pay Base Rent (hereinafter defined) to Landlord in monthly installments in an amount equal to the greater of (i) the fair market rate (the "Fair Market Rent") for ---------------- the Real Property (as defined herein) or (ii) one hundred and ten percent (110%) of the existing Base Rent on an "AS IS, WHERE IS" basis as of the commencement of the renewal term, as designated by Landlord within twenty (20) days after Landlord receives Tenant's renewal notice, but in no event greater than the rate of Base Rent in effect at the scheduled expiration of the Term or the applicable renewal term plus twenty-five percent (25%) thereof. In addition, during the Lease Termrenewal term, Tenant shall pay all other rent and other amounts due under the Lease. At any time during If Tenant does not approve of Landlord's designation of the Lease TermBase Rent for the renewal term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretothen Tenant, as a confirmation only of the information set forth thereinits sole remedy, which Tenant shall execute and return may submit in writing to Landlord within ten (10) business days after the Landlord's delivery of receipt thereof; providedits determination Fair Market Rent to Tenant (the "Renewal Commencement Date"), howeverits good faith ------------------------- determination of Fair Market Rent with appropriate back-up documentation. If the Tenant's determination of Fair Market Rent is within ten percent (10%) of the Landlord's determination of the same, the "Fair Market Rent" shall equal the ---------------- median number between each of the Tenant’s failure 's and Landlord's determination (but in no event shall the Fair Market Rent be less than the Base Rent existing on the last day of the Term plus ten percent (10%)). If the Tenant's determination of Fair Market Rent is not within ten percent (10%) of the Landlord's determination --- of the same, each of the Landlord and the Tenant shall choose an appraiser on the eleventh (11th) day after the Renewal Commencement Date to execute determine the "fair market rent" and return such notice to Landlord within such time the initial determinations shall be conclusive upon Tenant that disregarded for all purposes in determining the information set forth in such notice is as specified thereinFair Market Rent. In addition Each appraiser shall diligently attempt to agree on the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant Fair Market Rent on or before January 2, 2015 the twenty-fourth (the “Base Rent Delivery Date”), Tenant shall be entitled to one (124th) day of per diem Base Rent abatement for each day commencing on the day after the Renewal Commencement Date. If such appraisers agree on the Fair Market Rent on or before the twenty-fourth day after the Renewal Commencement Date, such agreed sum shall constitute the "Fair Market Rent". If the appraisers have not agreed on the Fair Market Rent by such day, (a) the appraisers shall select an independent third appraiser (the "Final Appraiser"), --------------- and (b) each such original appraiser shall deliver in writing to the Final Appraiser their last determination of the sum (each such sum being hereinafter referred to as the "Appraisal Price") that such appraiser believes is the Fair --------------- Market Rent. On or before the twenty-ninth (29th) day after the Renewal Commencement Date, the Final Appraiser shall choose one Appraisal Price or the other Appraisal Price as the "Fair Market Rent". Notwithstanding anything to ---------------- the contrary herein, in no event shall the Fair Market Rent be less than the Base Rent Delivery Date and ending on in effect at the date Landlord so tenders possession last day of the Premises to TenantTerm plus ten percent (10%) thereof. Any Tenant shall have no further renewal rights after the expiration of such Base Rent Abatement renewal terms. Upon the commencement of each renewal term, (x) the renewal term shall be separate from added to and become part of the Term, (y) any reference in addition this Lease, to the "Term", the "term of this Lease" or any Rent Abatement described in Section 3.2 belowsimilar expression shall ---- be deemed to include the renewal terms, and (z) the Expiration Date shall become the expiration of the applicable renewal term.
Appears in 1 contract
Samples: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” be as that term is set forth in Section 3.2 3.1 of the Summary, shall commence on the date (the “Commencement Date”) that Landlord delivers the Premises to Tenant in its “as is” condition and free of occupants, together with a copy of an Environmental Assessment, the Tenant acknowledging that such Environmental Assessment shall not be deemed to be insufficient on account of the Transferred Materials, defined below, remaining in the Premises in compliance with this Lease, meeting the requirements of Section 15.3, below, from the current tenant of the Premises or a consultant retained by Landlord (such condition being referred to herein as the “Delivery Condition”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Commencement Date and each subsequent consecutive twelve (12) month period during the Lease TermTerm (notwithstanding the foregoing to the contrary, the fifth Lease Year shall end on the Lease Expiration Date). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C2.1(A), attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, but execution of such instrument shall not be a condition to Lease commencement or Tenant’s obligations hereunder. Landlord anticipates that the Commencement Date will occur on April 1, 2019, but failure of the Commencement Date to execute and return occur on such notice date shall not be a default hereunder or result in any liability to Landlord within such time shall be conclusive upon or the termination of this Lease. Tenant acknowledges that the information set forth Premises will be delivered to Tenant containing such personal property as the predecessor tenant in such notice is as specified therein. In addition the Premises may agree in writing, at least 30 days prior to the foregoingCommencement Date, subject to any delays caused by convey to Tenant or any pursuant to a separate agreement. Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of further acknowledges that the Premises will be delivered containing certain Hazardous Materials as more particularly described, and in the manner described, in the plan dated March 12, 2019 prepared by Technical Safety Services LLC, and referred to Tenant on or before January 2, 2015 as NY-AST19006G-1 and attached hereto as Exhibit 2.1(B) (the “Base Rent Delivery DateTransferred Materials”), ) that Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on is acquiring from the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of predecessor tenant in the Premises pursuant to Tenanta separate written agreement (the “Side Letter”) between Tenant and the predecessor tenant, which Side Letter is attached hereto as Exhibit 2.1(C). Any such Base Rent Abatement shall be separate Landlord makes no representations or warranties with respect to, and Tenant waives any claims against Landlord arising out of, the conveyance or use of any personal property that Tenant obtains from and in addition to any Rent Abatement described in Section 3.2 belowthe predecessor tenant, the Transferred Materials, or the predecessor tenant’s compliance with the Plan or the Side Letter.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. (A) The term of this Lease (the “Lease Term”) shall commence on the “Lease date hereof and shall end three (3) years and zero (0) months after the Rent Commencement Date,” as that term is set forth in Section 3.2 . The "Rent Commencement Date" shall be the 1st day of March 1996, provided, the Landlord has completed construction of the Summary, Premises and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 installation of the SummaryTenant fit-up specifications listed on Exhibit B, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that entitled "Description of Work to be Performed by Landlord", attached hereto and the Premises are currently occupied by another tenant tendered in writing to Tenant for occupancy on or before March 1, 1996. Should the Premises be tendered to Tenant for occupancy on a date later than March 1, 1996 the Rent Commencement Date shall be deemed to be the date Tenant actually opens for business in the Premises or the date which is thirty (30) days after the Landlord makes written tender of the Building. If Landlord is unable for Premises to the Tenant, whichever be earlier.
(B) At any reason time prior to deliver the delivery of possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Leaseas aforesaid, the term “Lease Year” Tenant, his agents, servants or employees shall mean each consecutive twelve (12) month period during have the Lease Term. At any time during right to come on the Lease Term, Landlord may deliver to Tenant a notice in Premises for the form as set forth in Exhibit C, attached hereto, as a confirmation only purpose of the information set forth taking measurements therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; but for no other purpose, provided, however, Tenant’s failure to execute and return that such notice to Landlord within such time entry shall be conclusive not unreasonably interfere with or obstruct the progress of the work being done by the Landlord. Tenant agrees that upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender receiving possession of the Premises from the Landlord, as aforesaid, it will with due diligence proceed to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant install such fixtures and equipment and perform such other work as shall be necessary or appropriate in order to prepare the Premises for the opening of business, including, but not limited to, the work described in the attached Exhibit C, entitled "Description of Work to one be Performed by Tenant". In the event the Tenant does not commence the operation of its business within ninety (190) day of per diem Base Rent abatement for each day commencing on the day days after the Base Rent Delivery Date and ending on the date Landlord so tenders receiving possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and the Landlord, the Landlord, in addition to any Rent Abatement described in Section 3.2 belowother remedy hereunder, shall have the option of terminating this Lease by giving the Tenant written notice of such termination, whereupon this Lease shall be terminated.
Appears in 1 contract
Lease Term. The terms (a) This Lease shall become effective upon its delivery, and subject to earlier termination pursuant to the provisions of this Lease, shall have an Initial Term terminating on the last day of the Lessee’s current Fiscal Year.
(b) The Lease Term may be extended, solely at the option of the Lessee, at the end of the Initial Term or any Renewal Term for an additional Renewal Term up to the Maximum Lease Term.
(c) At the end of the Initial Term and at the end of each Renewal Term, the Lessee shall be deemed to have exercised its option to continue this Lease for the next Renewal Term, unless the Lessee delivers written notice to the Lessor no later than March 31 of each year stating the Lessee’s intention to not extend the Lease Term. The Lessee’s option to renew or not to renew this Lease shall be effective as conclusively determined by whether or not the City Council of the date Lessee has, on or before the March 31 immediately preceding the end of the Initial Term or any Renewal Term then in effect, budgeted and appropriated, specifically with respect to this Lease, moneys sufficient to pay all the Rental Payments and reasonably estimated Additional Payments for the ensuing Renewal Term. The City Administrator of the Lessee (or any other officer at any time charged with the responsibility of preparing budget proposals) is hereby directed to include in the budget proposal submitted to the City Council, in any year in which this Lease shall be in effect, items for all payments required for the next ensuing Renewal Term under this Lease; it being the intention of the City Council that the decision to renew or not to renew this Lease shall be made solely by the City Council and not by any other official of the Lessee. The Lessee shall in any event, whether or not this Lease is to be renewed, furnish to the Lessor and the Purchaser copies of its annual budget promptly after the budget is adopted, but in any case no later than 30 days later than the end of each Fiscal Year.
(d) The Lessee’s option to renew or not to renew this Lease may not be exercised at any time during which an Event of Default has occurred and is then continuing under any of the terms of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure that if such Event of Default (money payments excepted) is of such nature that the same is curable but not within the period allowed for curing such Event of Default, then the right of the Lessee to execute and return such notice to Landlord exercise the option hereby granted shall not be suspended if the Lessee shall have promptly commenced within such period to comply with the provisions of this Lease which shall have been breached by it and if so long as the Lessee shall, with diligence and continuity, proceed to cure such Event of Default within the time referenced in Section 12.1 hereof.
(e) The Lessee intends, subject to the provisions above respecting the failure of the Lessee to budget or appropriate funds to make Rental Payments and Additional Payments, to continue this Lease Term and to pay the Rental Payments and Additional Payments under this Lease. The Lessee reasonably believes that legally available funds in an amount sufficient to make all Rental Payments and Additional Payments during the Initial Term and each Renewal Term can be obtained. The Lessee further intends to do all things lawfully within its power to obtain and maintain funds from which the Rental Payments and Additional Payments may be made, including making provision for such Rental Payments and Additional Payments to the extent necessary in each proposed annual budget submitted for approval in accordance with applicable procedures of the Lessee and to exhaust all available reviews and appeals in the event such portion of the budget is not approved. Notwithstanding the foregoing, the decision to budget and appropriate funds or to continue the Lease Term is to be made in accordance with the Lessee’s normal procedures for such decisions.
(f) The terms and conditions during any Renewal Term shall be conclusive upon Tenant the same as the terms and conditions during the Initial Term, except that the information Rental Payments and the Option Purchase Price shall be as provided in the schedules set forth in Schedule 4 to this Lease, as such notice is schedules may be revised as specified therein. In addition to provided in the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowIndenture.
Appears in 1 contract
Samples: Lease Agreement
Lease Term. (a) The terms "Lease Term" is for a period of time commencing at 12:01 a.m. on the Commencement Date, or on such later date as is provided in subparagraph (c) below, and provisions of continuing thereafter through and until 6:00 p.m. on the Expiration Date.
(b) If on the Commencement Date the Premises have not been substantially completed due to omission, delay or default by Tenant or anyone acting under or for the Tenant (including, without limitation, Tenant's default or failure to perform its obligations in a timely manner or any delay resulting from changes to the "Drawings and Specifications" by Tenant ) then Tenant's obligations under this Lease (including, without limitation, the obligation to pay rent) shall be effective nonetheless commence as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” .
(c) If, due to causes other than as that term is set forth in Section 3.2 of the Summarysubparagraph (b) above, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to does not deliver possession of the Premises to Tenant on any specific the commencement date , then Landlord this Lease shall not be subject void or voidable, nor shall Landlord be liable to Tenant for any liability for its failure to do soloss or damage resulting therefrom, but in that event rent shall xxxxx until the date when Landlord does deliver possession, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during Term shall commence on the Lease Term, Landlord may deliver date when possession is delivered to Tenant a notice in except that, if for any reason other than strikes, casualties or other causes beyond the form as control of the Landlord, possession of the Premises is not delivered to Tenant within ninety (90) days after the Commencement Date or if possession is not so delivered for any reason whatsoever other than the causes set forth in Exhibit Csubparagraph (b) above within one hundred eighty (180) days after the Commencement Date, attached heretothen this Lease shall be voidable by either party upon thirty (30) days written notice to the other given at any time prior to the delivery of possession, provided that such notice shall be void, and this Lease shall remain in full force and effect, if possession is delivered within said thirty (30) day period following such notice of termination. In the event this Lease is terminated as a confirmation only of the information set forth thereinprovided in this Paragraph 4(c), which any monies advanced by Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that returned and the information set forth in such notice is as specified therein. In addition parties hereto shall have further obligation one to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if other.
(d) In the event that Landlord fails to tender cannot deliver possession of the Premises to Tenant on the Commencement Date because of Tenant's failure to perform its obligations under, or before January 2to pay the amounts specified, 2015 (the “Base Rent Delivery Date”), Tenant this Lease shall be entitled to one (1) day terminable at the sole option of per diem Base Rent abatement for each day commencing on the day Landlord at any time after the Base Rent Delivery Commencement Date and ending on the date prior to Tenant's performance or payment; and should Landlord so tenders possession of the Premises elect to Tenant. Any terminate this Lease, such Base Rent Abatement termination shall be separate from and in addition without prejudice to any Rent Abatement described in Section 3.2 belowLandlord's right to xxx Tenant to recover damages for Tenant's failure to perform its obligations, or to pay amounts due.
Appears in 1 contract
Samples: Lease Agreement (Logisticare Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Work Letter), and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during , provided that the last Lease Year shall end on the Lease TermExpiration Date. Landlord shall make possession of the Premises available to Tenant no later than ten (10) business days after the date of the full execution and delivery of this Lease by Landlord and Tenant and upon Tenant’s satisfaction of its obligations in Section 10.3.6 regarding delivery of certificates of insurance and Tenant’s payment of the first month’s Base Rent and the Security Deposit (collectively, the “Delivery Conditions”). In the event the Delivery Conditions are satisfied but Landlord does not make possession of the Premises available to Tenant on or before the expiration of such ten (10) business day period, then Tenant shall have the right to terminate this Lease by providing Landlord with written notice of such termination at anytime prior to Landlord making possession of the Premises available to Tenant with such termination to be effective upon Landlord’s receipt of such termination notice. Upon such termination of this Lease, Landlord may shall return the Security Deposit and any pre-paid Base Rent to Tenant and the parties shall be released from all obligations under this Lease except for those obligations which expressly survive the expiration or sooner termination of this Lease. Upon the occurrence of the Lease Commencement Date set forth in Section 7.2 of the Summary, within a reasonable period of time after the date Tenant takes possession of the Premises, Landlord shall deliver to Tenant a notice an amendment to lease in the form attached hereto as set forth in Exhibit C, attached heretosetting forth the Lease Commencement Date and the Lease Expiration Date, as a confirmation only of the information set forth therein, which and Tenant shall execute and return such amendment to Landlord within ten (10) business days of receipt thereof; provided, however, after Tenant’s failure receipt thereof (provided that if said notice is not factually correct, then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 ten (the “Base Rent Delivery Date”10) business day period), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Office Lease (Legalzoom Com Inc)
Lease Term. 2.1 The terms lease term is 5 years, from May 1, 2010 to April 30, 2015. The calculation of rent starts on May 1, 2010.
2.2 Within 3 months before expiration of the Lease term, the Lessor is entitled to send a written notice to the Lessee and provisions inquire about the Lessee’s intent of renewal. If the Lessee fails to express the intent to renew the Lease in written form within 10 days after the Lessor sends the above mentioned written notice, the Lessee is deemed to have waived renewal. If the Lessee responds with the intent to renew the Lease, the parties shall negotiate on the renewal. The Lessee enjoys priority in renewing the Lease under the same conditions. However, if the parties fail to reach an agreement regarding the Lease renewal 30 days prior to the expiration date of the Lease term, regardless of any reasons whatsoever, the Lessee is regarded to have waived renewal and the Lessor can enter into lease agreement with any third party.
2.3 Upon expiration of the Lease term, in absence of the Lessee’s express intent to renew the Lease in written form within 10 days after the Lessor sends the above mentioned written notice, or that the Lessee has expressly refused lease renewal, if the Lessee fails to surrender the Leased Premise in accordance with the Lease, a compensation in the amount of 3 times of the daily rent under this Lease per every delay day, shall be effective as paid to the Lessor.
2.4 On the Lease expiration date or termination date, the Lessee shall surrender the Leased Premise to the Lessor, along with all the facilities set out in the hand over list (see Exhibit 2) and any accessio or improvement made to the Leased Premise. Moreover, the Lessor shall surrender the Leased Premise in its good and ready to be re-leased condition (Normal wears and tear and inherent defects are excluded).
2.4.1 Before surrendering the Leased Premise, the Lessee shall empty the Leased Premise, remove all the movables (except for those owned by the Lessor and those that the Lessor is responsible for), fix and repair all the damages made to the Leased Premise, all at the lessee’s expense.
2.4.2 The Lessee shall return to the Lessor all the keys and devices used for entering the Leased Premise, and remove, at the Lessee’s expense, any doors, walls or any signs or designation attached to the windows in the Leased Premise. Any personal properties or movables of the Lessee, that remain in the Leased Premise after the expiry of final surrender date designated by the Lessor, will be considered disposed, and will be kept as properties of this Leasethe Lessor or disposed of in any other manners. The term of this Lease (Lessee’s inaction to dispose or remove the “Lease Term”) forgoing properties and movables shall commence on constitute the “Lease Commencement Date,” as that term is set forth in Section 3.2 Lessee’s disposal of the Summary, and shall terminate on forgoing properties or movables.
2.4.3 Upon the “Lease Expiration Date,” as that term is set forth in Section 3.3 surrender of the SummaryLeased Premise, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of parties shall make inspections together to determine whether the Buildingforgoing obligations have been fulfilled. If Landlord the Lessee fails to remove all the movables in accordance with the forgoing clauses, or fails to repair any damages to the Leased properties, the Lessor is unable for any reason entitled to deliver possession of (but not obliged) to perform the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure forgoing obligations or hire a third party to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time expense arises therefrom shall be conclusive upon Tenant that borne by the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLessee.
Appears in 1 contract
Lease Term. The terms and provisions of this This Lease shall be effective as continue in force during a period beginning on Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter providedor extended to a later date under any other term or provision hereof. Tenant hereby acknowledges that If this Lease is executed before the Premises are currently occupied become vacant or otherwise available and ready for occupancy by another tenant Tenant, or if any present occupant of the Building. If Premises holds over and Landlord is unable for any reason to deliver cannot acquire possession of the Premises to Tenant on any specific date before the Commencement Date, then Landlord shall not be subject (a) Tenant's obligation to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time pay rent hereunder shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if waived until Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement , (b) the Lease Term shall be separate from extended by the time between the scheduled Commencement Date and the date on which Landlord tenders possession of the Premises to Tenant (which date will then be defined as the Commencement Date), (c) Landlord shall not be in addition default hereunder or be liable for damages therefor, and (d) Tenant shall accept possession of the Premises when Landlord tenders possession thereof to any Rent Abatement described Tenant. By occupying the Premises, Tenant shall be deemed to have accepted the Premises in Section 3.2 belowtheir condition as of the date of such occupancy, subject to the performance of punch-list items that remain to be performed by Landlord, if any. Tenant shall execute and deliver to Landlord, within ten (10) days after Landlord has requested same, a letter confirming (i) the Commencement Date, (ii) that Tenant has accepted the Premises, and (iii) that Landlord has performed all of its obligations with respect to the Premises (except for punch-list items specified in such letter).
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Lease Term. The terms Landlord and provisions of this Tenant acknowledge and agree that the Lease Term is scheduled to expire on June 30, 2015 (the "Current Lease Expiration Date"). Notwithstanding the foregoing or any provision to the contrary contained in the Lease, Landlord and Tenant hereby agree to extend the Lease Term to expire (unless sooner terminated as provided in the Lease, as amended) on August 31, 2024 (such new expiration date shall be effective referred to herein as the "New Lease Expiration Date"). The period of the date of this Lease Term applying to the Current Premises commencing on July 1, 2015 (the "New Current Premises Commencement Date") and expiring (unless sooner terminated as provided in the Lease, as hereby amended) on the New Lease Expiration Date shall be referred to herein as the "New Current Premises Term". The term of this Lease Tenant's lease of Xxxxx 000X (the “Lease Term”xxx "Xxxxx 000X Xxxx") shall commence on the “Lease Suite 100A Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate expire (unless sooner terminated as provided in the Lease, as hereby amended) on the “New Lease Expiration Date,” as that . The term is set forth in Section 3.3 of Tenant's lease of Suite 230 (the Summary, "Suite 230 Term") shall commence on the Suite 230 Commencement Date and shall expire (unless this Lease is sooner terminated as hereinafter providedprovided in the Lease, as hereby amended) on the New Lease Expiration Date. Tenant The term of Tenant's lease of Suite 300 (the "Suite 300 Term") shall commence on the Suite 300 Commencement Date and shall expire (unless sooner terminated as provided in the Lease, as hereby acknowledges that amended) on the Premises are currently occupied by another tenant of the BuildingNew Lease Expiration Date. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date The Xxxxx 000X Xxxx, then Landlord shall not be subject to any liability for its failure to do soXxxxx 000 Term, and such failure Suite 300 Term shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease sometimes be referred to herein individually as an "Expansion Term". At any time during the Lease Term, Landlord may deliver to Tenant a notice or notices in the form as set forth in Exhibit C, attached hereto, (which notice or notices may also include updated Base Rent schedules), as a confirmation only of the information set forth thereintherein with respect to any Expansion Term (or Base Rent payable through the New Lease Expiration Date), which which, provided such information is correct, Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
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Lease Term. The terms and provisions (a) Notwithstanding anything to the contrary contained in the Original Lease, the Term is hereby extended so as to expire on the date that is the last day of this Lease the month that is sixty (60) months after the Rent Commencement Date (the "Expiration Date").
(b) Notwithstanding the foregoing, Tenant shall have the one-time option (the "Termination Option") to terminate the entire Lease, but not any portion of the Lease. Such termination shall be effective as of the day immediately preceding the three (3) year anniversary of the Rent Commencement Date (the "Termination Date"), upon the following terms and conditions (and the failure of any of the following shall result in the Termination Option's becoming null and void with no force and effect):
(i) Tenant shall give Landlord written notice (the "Termination Notice") of Tenant's election to exercise the Termination Option on or before 5:00 p.m. Pacific Standard Time on or before the date which is four (4) months prior to the Termination Date (the "Termination Notice Date");
(ii) There shall exist no default under the Lease on the Termination Notice Date or on the Termination Date;
(iii) Tenant shall pay to Landlord, concurrently with the delivery of the Termination Notice, an amount equal to the Termination Fee (defined below). The "Termination Fee" shall mean (A) the unamortized Leasing Costs (defined below) as of the Termination Date, based upon an amortization period from the Rent Commencement Date until the Expiration Date (as the Expiration Date is amended above), with interest accruing on said unamortized Leasing Costs at nine percent (9%) per annum from the date they were paid, plus (B) Thirty-Four Thousand Seven Hundred Fourteen and 18/100 Dollars ($34,714.18). The term "Leasing Costs" shall mean the sum of (A) all costs and expenses incurred by Landlord in connection with the Relocation Improvements, and (B) any brokerage commissions paid by Landlord in connection with this Amendment. In the event Tenant timely and properly exercises the Termination Option, the term of the Lease shall terminate effective as of the Termination Date. Basic Rental and all other monetary obligations under the Lease shall be paid through and apportioned as of the Termination Date, and neither Landlord nor Tenant shall have any rights, liabilities or obligations accruing under the Lease after the Termination Date, except for such rights and liabilities which, by the terms of the Lease are obligations of the Tenant or Landlord which expressly survive the expiration of the Lease. The term Termination Option shall automatically terminate and become null and void upon (Y) the failure of this Lease Tenant to timely or properly exercise the Termination Option; or (the “Lease Term”Z) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason Tenant's right to deliver possession of the Premises being terminated prior to the exercise of the Termination Option. The rights contained in this Section 2(b) shall be personal to the original Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do sonamed in this Amendment ("Original Initials: -2- Tenant"), and such failure shall not affect any assignee, sublessee or other transferee of the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during Original Tenant's interest in the Lease Term. At any time during and may only be exercised by the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Original Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Standard Office Lease (Alloy Inc)
Lease Term. The (a) Subject to and upon the terms and provisions of conditions set forth in this Lease, this Lease shall be effective as of continue in force for the date of this Lease. The term of this Lease (the “Lease Term”. Notwithstanding the Commencement Date provided in Paragraph l(e) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, Tenant's obligation for the term “Lease Year” shall mean each consecutive twelve (12) month period during payment of rent and the Lease Term. At any time during the Lease Term, Term shall not commence until Landlord may deliver has substantially completed all work to Tenant a notice in the form be performed by Landlord as set forth in Exhibit C, the Work Letter Agreement attached hereto, hereto as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofEXHIBIT "D"; provided, however, that if Landlord shall be delayed in substantially completing said work as a result of any of the following (a "DELAY"): EXHIBIT 10.6
(i) Tenant’s 's failure to execute furnish information in accordance herewith or to respond to any request by Landlord for any approval or information within any time period prescribed, or if no time period is prescribed, then within three Business Days of such request; or
(ii) Tenant's insistence on materials, finishes or installations other than Landlord's Building Standard after having first been informed by Landlord in writing at or before the time of delivery to Tenant of final construction pricing for Tenant's approval that such materials, finishes or installations will cause a Delay; or
(iii) Tenant's changes in any plans and return specifications; or
(iv) The performance by a person, firm or corporation employed by Tenant in the completion of any work by said person, firm or corporation (all such notice work and such persons, firms or corporations being subject to Landlord within such time shall be conclusive upon the approval of Landlord); or
(v) Any request by Tenant that Landlord delay the information set forth in such notice is as specified therein. In addition to the foregoing, subject to completion of any delays caused of Landlord's work; or
(vi) Any breach or default by Tenant or any Tenant Parties and events in the performance of Force Majeure, if Landlord fails to tender Tenant's obligations under this Lease; or
(vii) Any delay resulting from Tenant's having taken possession of the Premises prior to Tenant on or before January 2its being substantially completed, 2015 as defined below; or
(the “Base Rent Delivery Date”), Tenant shall be entitled to one (1viii) day Any reasonably necessary displacement of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession any of Landlord's work from its place in Landlord's construction schedule resulting from any of the Premises causes for Delay; or
(ix) Any other delay chargeable to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below., its agents, employees or independent contractors;
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Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (Lease, referred to as the “Lease "Term”) ", shall commence on the “Lease date Tenant occupies the Premises referred to as the "Commencement Date,” " and end on the date which is 62 months following the later of (a) February 1, 1997 or (b) the date that is 45 days after the date on which Landlord delivers the Premises to Tenant in accordance with this Section 1.1, referred to as the "Expiration Date", unless sooner terminated or extended as provided in this Lease. Tenant's obligation to pay Minimum Rent shall commence on the later of (a) February 1, 1997 or (b) on the date which is 45 days after the day on which Landlord's Work is completed and Tenant's occupancy commences. Landlord shall improve the Premises for Tenant's occupancy in accordance with the plans described in Schedule 1.1 (the "Plans"). Landlord and Tenant agree that term is set forth the Plans have been reviewed and accepted by Landlord and Tenant. Promptly following execution of this Lease by Landlord and Tenant Landlord, through contractors employed by Landlord for such purpose, shall commence the improvements in Section 3.2 of accordance with the SummaryPlans (such work, "Landlord's Work") and shall terminate on the “Lease Expiration Date,” proceed diligently so as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges to complete Landlord's Work such that the Premises are currently may be occupied by another tenant Tenant for the conduct of business on or before December 20, 1996, subject to completion of "punchlist items". All work performed by Landlord shall be performed in a good and workmanlike manner and in accordance with all building, safety and other governmental and quasi-governmental laws, codes, ordinances and regulations applicable thereto. If said improvements and changes as agreed between Landlord and Tenant are not completed by March 1, 1997, this Lease may be terminated at the sole discretion of the BuildingTenant by written notice to Landlord at any time after March 1, 1997 while such failure persists. 2 If Landlord is unable for any reason fails to deliver possession of the Premises either (a) because a certificate of occupancy has not been procured, (b) due to delays caused by Tenant on or (c) because a previous occupant is holding over, or (c) because of any specific date other cause or reason beyond the reasonable control of Landlord, then Landlord the following provisions shall apply (provided the Lease shall not be subject to any liability for its failure to do so, and such failure have been terminated by Tenant): (i) the Term shall not affect commence on the date set forth above but shall, instead, commence on a date fixed by Landlord in a notice to Tenant, which notice shall state that the Premises is, or prior to the commencement date fixed in such notice will be, completed and ready for occupancy by Tenant; (ii) the Term shall end on a date (the ''Expiration Date'') which shall be the last day of the sixty second (62nd) month after the Term shall have commenced, unless sooner terminated as hereinafter provided; (iii) neither the validity of this Lease or nor the obligations of Tenant hereunder. For purposes of under this LeaseLease shall be affected by such failure to deliver possession, except that the term “Lease Year” Term shall mean each consecutive twelve begin and end as provided in clauses (12i) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which and (ii) aforesaid; and (iv) Tenant shall execute and return to have no claim against Landlord within ten (10) business days because of receipt thereof; provided, however, Tenant’s Landlord's failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender deliver possession of the Premises on the date originally fixed therefor. None of the foregoing shall be construed so as to Tenant limit Tenant's right to terminate this Lease in the event Landlord's Work is not completed and the Premises delivered on or before January 2March 1, 2015 (the “Base Rent Delivery Date”), 1997. Tenant shall be have, as appurtenant to the Premises, the right to use, in common with others entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date thereto, elevators, driveways, walkways, parking areas, loading docks and ending on the date Landlord so tenders possession of other common areas and common facilities serving the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowand/or the Building or Land.
Appears in 1 contract
Lease Term. (a) The terms and provisions of this Lease shall be effective as Term begins on the earliest to occur of: (1) the date Tenant occupies any part of the date of this Lease. The term of this Lease Leased Premises; (2) the “Lease Term”Commencement Date; or (3) shall commence the Ready for Occupancy Date (defined below); and ends on the “Expiration Date. Notwithstanding the foregoing, if the Ready for Occupancy Date occurs before May 22, 1998, then the Lease Commencement Date,” as that term is set forth in Section 3.2 Term shall begin on the earlier of (i) the date Tenant occupies any part of the SummaryLease Premises or May 25, 1998, and if the Ready for Occupancy Date occurs on or after May 25, 1998 and before July 3, 1998, then the Lease Term shall terminate begin on the “Lease Expiration Date,” as that term is set forth in Section 3.3 earlier of (i) the date Tenant occupies any part of the SummaryLease Premises, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that or (ii) July 3, 1998.
(b) Subject to Paragraph 3(c) below, if the Premises are currently occupied Ready for Occupancy Date does not occur by another tenant of the Building. If Landlord is unable Commencement Date for any reason to deliver possession of the Premises to other than omission, delay, or default by any Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, howeverParty, Tenant’s failure 's obligation to execute pay Rent does not commence until the Ready For Occupancy Date occurs and return such notice to Landlord within such the Expiration Date is extended for a period of time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition equal to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing time period beginning on the day after the Base Rent Delivery Commencement Date and ending on the day before the Ready for Occupancy Date. This abatement of Rent is Tenant's sole and exclusive remedy and is full settlement of all claims that Tenant has against Landlord by reason of the Leased Premises not being ready for occupancy by Tenant on the Commencement Date.
(c) If Tenant occupies any part of the Leased Premises before the Commencement Date or the Ready for Occupancy Date, as applicable, the Lease Term and Tenant's obligation to pay Rent commence on the date Landlord so tenders Tenant occupies the Leased Premises and the Expiration Date is 126 months after the date on which Tenant's occupancy commences. Tenant is deemed to occupy the Leased Premises when Tenant takes possession of any part of the Leased Premises for any purpose, including placing furniture and installing Tenant's equipment in the Leased Premises.
(d) When the first day of the Lease Term is established pursuant to Tenant. Any such Base Rent Abatement this Xxxxxxxxx 0, Xxxxxxxx shall be separate from prepare and Landlord and Tenant shall exchange a letter acknowledging that date and, if the Expiration Date changes under this Paragraph, the Expiration Date.
(e) The READY FOR OCCUPANCY DATE is the earlier to occur of:
(1) the date that Landlord notifies Tenant that the City of Dallas has approved the Leased Premises for occupancy; or
(2) the date the City of Dallas would have approved the Leased Premises for occupancy but for delays caused by any Tenant Party; provided, if Landlord performs any Additional Work (defined in addition to any Rent Abatement described EXHIBIT F), the Ready for Occupancy Date is deemed accelerated by the number of days in Section 3.2 belowthe Additional Work Period (defined in EXHIBIT F).
Appears in 1 contract
Samples: Office Lease (Penson Worldwide Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease TermLEASE TERM”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is LEASE COMMENCEMENT DATE”) set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of Section 5 of the Tenant Work Letter), and shall terminate on the date (the “Lease Expiration Date,” as that term is LEASE EXPIRATION DATE”) set forth in Section 3.3 SECTION 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during Term commencing on the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofCommencement Date; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant provided that the information set forth in such notice is as specified thereinlast Lease Year shall end on the Lease Expiration Date. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events The taking of Force Majeure, if Landlord fails to tender possession of the Premises by Tenant shall conclusively establish that the Premises and the Base Building were in satisfactory condition at such time, provided that Tenant shall have the right to submit a punch list within thirty (30) days of Landlord’s delivery of the Base Building to Tenant detailing any Base Building items which fail to comply with the Tenant Work Letter. Landlord shall then complete said punch list items as required in the Tenant Work Letter. Notwithstanding the definition of the Lease Commencement Date for the Premises set forth above, if Tenant commences business operations from any portion of the Premises prior to the occurrence of the Lease Commencement Date (each space occupied to be known as the “PRE-OCCUPANCY SPACE”), all of the terms and conditions of this Lease shall apply to that portion of the Premises containing the Pre-Occupancy Space, except that Tenant shall have no obligation to pay any Base Rent or Direct Expenses during the period commencing on or before January 2, 2015 the date Tenant commences business operations from the applicable Pre-Occupancy Space and continuing until the Lease Commencement Date (the “Base Rent Delivery DatePRE-OCCUPANCY PERIOD”), . Tenant shall however be entitled obligated to one (1) day pay parking charges during the Pre-Occupancy Period for any parking spaces used by Tenant other than in connection with the construction of per diem Base Rent abatement for each day commencing on the day after Premises. Tenant shall have the Base Rent Delivery Date and ending on the date Landlord so tenders possession right to commence business operations from any portion of the Premises to Tenant. Any such Base Rent Abatement during the Pre-Occupancy Period, provided that a certificate of occupancy or its equivalent permitting occupancy shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowhave been issued by the appropriate governmental authorities for the Pre-Occupancy Space.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease will be for a period of ten years (the “Lease Term”) shall commence "INITIAL LEASE TERM"), commencing on the “date ("COMMENCEMENT DATE") which is the later of: (a) May 1, 1997; or (b) the 46th day after the substantial completion of the Improvements. The Initial Lease Term will end on the tenth anniversary of the Commencement Date,” as that term . Notwithstanding anything to the contrary contained herein, if the substantial completion of the Improvements is delayed beyond the targeted substantial completion date set forth in Section 3.2 /section/4, above, as a result of any Tenant-caused Delay Event (meaning any of those Delay Events specified in subparagraphs (d) through (h) in /section/4), then the Commencement Date of the SummaryInitial Lease Term will be deemed to be the later of May 1, 1997 or the date which, but for the occurrence of such Tenant-caused Delay Event, would have been the Commencement Date within the meaning of the first sentence of this /section/5, and shall terminate on the “Lease Expiration Date,” as that term is from and after such date, Tenant will be obligated to pay Base Rent and all Operating Expenses and otherwise perform all of its other obligations and duties set forth in Section 3.3 this Lease. Tenant will have an option to extend the Lease Term for up to three consecutive renewal terms of five years each. Tenant's right to exercise its option with respect to any such renewal term will be expressly conditioned upon both of the Summary, unless this Lease is sooner terminated as hereinafter provided. following conditions being satisfied with respect to each such renewal term: (a) Tenant hereby acknowledges that must give written notice to Landlord of its election to exercise its option with respect to such renewal term at least 180 days prior to the Premises are currently occupied by another tenant scheduled commencement date of such renewal term; and (b) on the date of the Buildingexercise of such option and on the scheduled date for the commencement of such renewal term, the Lease must be in full force and effect without any material default by Tenant thereunder. If Landlord is unable for any reason to deliver possession Tenant's occupancy of the Premises to Tenant on Property during any specific date , then Landlord shall not such renewal term will be subject to any liability for upon the same terms and conditions which govern its failure to do so, and such failure shall not affect occupancy of the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period Property during the Lease Term. At any time during the Initial Lease Term, Landlord may deliver except that the Base Rent payable during each such renewal term will be as provided in /section/6. All references in this Lease to the "LEASE TERM" will include the Initial Lease Term and any renewal term exercised by Tenant a notice in pursuant to this /section/5. Tenant will have the form as set forth in Exhibit Cright, attached heretoif it so elects, as a confirmation only to occupy the Building (or any part thereof) during the period after substantial completion of the information set forth thereinImprovements and prior to the Commencement Date ("EARLY OCCUPANCY PERIOD"), which Tenant shall execute and return without having any obligation to Landlord within ten (10) business days of receipt thereofpay any Base Rent; provided, however, Tenant’s failure that Tenant will be obligated to execute and return pay all Operating Expenses accruing during such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition Early Occupancy Period with respect to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession part of the Premises Building which it so occupies and will otherwise be required throughout the Early Occupancy Period to perform all of its other duties and obligations under this Lease with respect to the portion of the Building which it so occupies. Tenant on or before January 2will have the right during the Early Occupancy Period to install its telephone and computer equipment, 2015 (the “Base Rent Delivery Date”)furniture and work stations and pursue other pre-occupancy tasks. As of even date herewith, Tenant shall and HIBC Development Company have entered into an Expansion Agreement, which contemplates that, under certain circumstances, the initial Lease Term will be entitled extended to one (1) day become co-terminus with the termination date of per diem Base Rent abatement Tenant's leasing of an additional building to be constructed by HIBC Development Company for each day commencing on Tenant. The terms and conditions of any such extension of the day after initial Lease Term hereunder and the Base Rent Delivery Date and ending on payable by Tenant during any such extension period will be governed by the date Landlord so tenders possession terms of the Premises aforementioned Expansion Agreement. In the event that Tenant decides to Tenantinvoke its expansion rights under the Expansion Agreement and the initial Lease Term hereunder is thereby extended, Landlord will be obligated to pay Properties Atlantic, Inc. a brokerage commission upon any such extension of the initial Lease Term in an amount equal to $3.00 per rentable square foot contained within the Building, multiplied by a fraction which has as its numerator the number of full or partial years by which the initial Lease Term is extended and which has as its denominator ten years. Any such Base Rent Abatement shall commission will be separate from and payable in addition to any Rent Abatement described in Section 3.2 belowfull upon the parties' full execution of the document so extending the initial Lease Term.
Appears in 1 contract
Samples: Lease Agreement (Hte Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1 st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1 st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1 st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof. Notwithstanding the foregoing, if the Lease Commencement Date has not occurred on or before the date that occurs forty-five (45) days after the Anticipated Lease Commencement Date (the “Abatement Date”), then Base Rent shall be abated from and after the Lease Commencement Date for one day for each day that occurs after the Abatement Date and before the Lease Commencement Date; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time the Abatement Date shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused delayed by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on that the day after the Base Rent Delivery Lease Commencement Date and ending on the date Landlord so tenders possession is delayed by an event of “Force Majeure” (as that term is defined in Section 29.16) or by a “Tenant Delay” (as that term is defined in Section 5.2 of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowTenant Work Letter).
Appears in 1 contract
Samples: Lease (Inhibrx, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease October 1, 2016 ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the SummaryDecember 31, 2023 unless this Lease is sooner terminated as hereinafter provided. In the event that Tenant hereby acknowledges that does not vacate the Premises are currently occupied by another tenant of upon the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease expiration or the obligations of Tenant hereunder. For purposes termination of this Lease, Tenant shall be deemed in default of this Lease, and Landlord may commence eviction proceedings. Notwithstanding anything in this Lease to the contrary, Landlord shall have the option, in case of any such holding over, to convert the Lease term from a fixed term to a tenancy at will, in which case the term “Lease Year” shall mean each consecutive twelve will continue and no eviction proceedings commenced until the tenancy at will is terminated. Whether or not Landlord opts to convert the term to a tenancy at will, Tenant will be liable, during any holding over period, for base rent in an amount equal to one and a quarter (121.25) month times the Base Rent which would have been payable by Tenant had the holdover period during been a part of the Lease Termoriginal term of this Lease, together with all additional rent as provided in this Lease. At Because rent will accrue with respect to any time during holdover period in any event, no acceptance of rent by Landlord will be deemed an election to convert the Lease Termterm to a tenancy at will. Rather, Landlord may deliver will have the right to bring eviction proceedings unless and until Landlord elects, by written notice, to convert the term to a tenancy at will. Landlord hereby agrees that the Landlord's Work shall be completed as evidenced by the issuance of a City issued Certificate of Occupancy, and delivery of possession shall be delivered to Tenant no later than October 1, 2016 (the "Outside Delivery and Completion Date"). Landlord hereby acknowledges and understands that (a) the Tenant is a notice party to a certain lease agreement (the "Tenant's Current Lease"), wherein the Tenant is currently operating at another location (the "Tenant's Current Location") and (b) the execution of this Lease (i) has resulted in the form as set forth in Exhibit C, attached hereto, as a confirmation only Tenant's termination of the information set forth therein, which Tenant shall execute Tenant's Current Lease; and return (ii) will result in the Tenant's relocation of all or a portion of its operations from the Tenant's Current Location to Landlord within ten (10) business days the Premises. As a result of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject Landlord acknowledges and understands that it is critical to any delays caused by the Tenant's operations that early access to the Premises is granted to Tenant or any Tenant Parties on August 1, 2016 and events that the Landlord's Work is completed and that delivery of Force Majeurepossession occur no later than the Outside Delivery and Completion Date. Accordingly, if notwithstanding anything to the contrary, (a) in the event that the Landlord fails to tender possession of grant Tenant early access to the Premises to Tenant by August 1, 2016 as contemplated in Section 14.13 below; or (b) in the event that the Landlord's Work has not been completed on or before January 2the Outside Delivery and Completion Date or (c) in the event that delivery of possession has not yet occurred on or before the Outside Delivery and Completion Date, 2015 (and provided that such delay was not caused by the “Base Rent Delivery Date”)Tenant, Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described other rights or remedies which are available to Tenant under this Lease and/or which are otherwise available to Tenant at law or in Section 3.2 belowequity, Landlord shall be obligated to pay to the Tenant an amount which is equal to $2,600.00 per day.
Appears in 1 contract
Samples: Lease (DJO Finance LLC)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not deliver possession of the Premises to Tenant a notice in Ready for Occupancy on or before the form anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the Summary), Landlord shall not be subject to any liability nor shall the validity of this Lease nor the obligations of Tenant hereunder be affected. If the Lease Commencement Date is a date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) of the Summary, then, following the Lease Commencement Date, Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, as a confirmation only of setting forth, among other things, the information set forth thereinLease Commencement Date and the Lease Expiration Date, which and Tenant shall execute and return such amendment to Landlord within ten five (105) business days of after Tenant’s receipt thereof; provided, however, Tenant’s failure . If Tenant fails to execute and return such notice to Landlord the amendment within such time 5-business day period, Tenant shall be conclusive upon deemed to have approved and confirmed the dates set forth therein, provided that such deemed approval shall not relieve Tenant that of its obligation to execute and return the information amendment (and such failure shall constitute a default by Tenant hereunder). If Landlord does not deliver such amendment to Tenant, the Lease Commencement Date shall be deemed to be the anticipated Lease Commencement Date set forth in such notice is as specified thereinSection 7.2(ii) of the Summary. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession event that Substantial Completion of the Premises to Tenant on or before January 2has not occurred by August 1, 2015 2016 (the “Base Rent Delivery First Outside Date”), as such First Outside Date may be extended by the number of days of Tenant shall be entitled Delays (as defined in the Tenant Work Letter) and by the number of days of Force Majeure events (as defined in Section 24.17 hereof), then Landlord agrees to provide Tenant with one (1) day of per diem abatement of Base Rent abatement for each one (1) day commencing on past the day after the Base Rent Delivery First Outside Date and ending on the (as such date Landlord so tenders possession may be extended as provided above) that Substantial Completion of the Premises has failed to occur. In addition, in the event that Substantial Completion of the Premises has not occurred by the “Second Outside Date,” which Second Outside Date shall be September 1, 2016, as such Second Outside Date may be extended by the number of days of Tenant Delays and by the number of days of “Force Majeure” events, then the sole remedy of Tenant shall be the right to deliver a notice to Landlord (the “Second Outside Date Termination Notice”) electing to terminate this Lease effective upon receipt of the Second Outside Date Termination Notice by Landlord (the “Effective Date”). Except as provided herein below, the Second Outside Date Termination Notice must be delivered by Tenant to Landlord, if at all, not earlier than the Second Outside Date and not later than five (5) business days after the Second Outside Date. If Tenant delivers the Second Outside Date Termination Notice to Landlord, then Landlord shall have the right to suspend the Effective Date for a period ending thirty (30) days after the original Effective Date. In order to suspend the Effective Date, Landlord must deliver to Tenant, within five (5) business days after receipt of the Second Outside Date Termination Notice, a certificate of the Contractor (as defined in the Tenant Work Letter) certifying that it is such Contractor’s best good faith judgment that Substantial Completion of the Premises will occur within thirty (30) days after the original Effective Date. Any such Base Rent Abatement If Substantial Completion of the Premises occurs within said thirty (30) day suspension period, then the Second Outside Date Termination Notice shall be separate from of no further force and in addition effect; if, however. Substantial Completion of the Premises does not occur within said thirty (30) day suspension period, then this Lease shall terminate as of the date of expiration of such thirty (30) day period. Upon termination of this Lease pursuant to any Rent Abatement described in this Section 3.2 below2.1. the parties shall be relieved of all further obligations under this Lease except for those obligations under this Lease which expressly survive the expiration or sooner termination of this Lease.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease Term shall be effective as of mean the date of this Lease. The term of this Lease (the “Lease Term”) shall commence period beginning on the “Lease above referenced Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate ending on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive Termination Date (an approximately twelve (12) month period term). Landlord shall exercise a good faith effort with respect to delivering possession of the Residence to Tenant on the Commencement Date. In the event Landlord does not deliver possession of the Residence to Tenant on the Commencement Date, but Xxxxxxxx does deliver possession within (45) days after the Commencement Date, then Rent shall be abated on a daily basis during the Lease Termperiod of delay. At Landlord shall not be liable to Tenant for any time during the Lease Term, losses or damages related to such failure to timely deliver possession. If Landlord may cannot deliver to Tenant a the Residence by the first day of the Lease Term because another resident holds over, or for any other reason, Landlord shall not be liable to Tenant or Tenant’s Guarantor for damages, but Tenant will not be required to pay any Rent until the Residence is available. If Landlord is not able to deliver possession to Tenant within forty five (45) calendar days following the Commencement Date, Tenant may, as its sole remedy, cancel the Lease by written notice to Landlord, in which case Xxxxxx’s security deposit will be refunded and Tenant shall have no further liability hereunder. It is expressly understood that this Lease is for the Lease Term regardless of whether Xxxxxx takes occupancy, is transferred, ceases to be enrolled at any school in the form as set forth in Exhibit Carea, attached hereto, as is no longer a confirmation only resident of the information set forth thereinarea or, which Tenant for any other reason, is unable to continue occupying the Residence. Accordingly, Xxxxxx’s obligation to pay Rent hereunder (and the Guarantor(s) obligation to ensure payment of the same) shall execute continue for the entire Lease Term and return until all sums due to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfull.
Appears in 1 contract
Samples: Rental Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before October 1, 2019, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Samples: Lease (Harpoon Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January February 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) June 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Samples: Sublease (Alector, Inc.)
Lease Term. (a) The Lease Term begins on the earlier to occur of (1) the date Tenant occupies (defined below) any part of the Premises or (2) the later to occur of the Commencement Date or the Ready for Occupancy Date (defined below) and ends on the Expiration Date.
(b) If the Ready for Occupancy Date does net occur by the Commencement Date for any reason other than omission, delay, or non-compliance with the terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. by any Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, howeverParty, Tenant’s failure obligation to execute pay Rent does not commence until the Ready For Occupancy Date occurs and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice Expiration Date is as specified therein. In addition extended to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession last day of the Premises month following a period of time equal to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing time period beginning on the day after the Base Rent Delivery Commencement Date and ending on the date day before the Ready for Occupancy Date. This abatement of Rent is Tenant’s sole and exclusive remedy and is full settlement of all claims that Tenant has against Landlord so tenders possession by reason of the Premises not being ready for occupancy by Tenant on the Commencement Date.
(c) If Tenant occupies any part of the Premises before the Commencement Date or the Ready for Occupancy Date, as applicable, the Lease Term and Tenant’s obligation to pay Rent commence on the date Tenant occupies the Premises and ends on the Expiration Date. The term, occupy, means the date when Tenant takes possession of any part of the Premises for any purpose, including placing furniture and installing Tenant’s equipment in the Premises.
(d) When the Ready For Occupancy Date is determined, Landlord and Tenant shall exchange a letter acknowledging that date and, if the Expiration Date changes under this Paragraph, the Expiration Date. Any such Base Rent Abatement shall If any dispute arises regarding those dates, a certificate will be separate from furnished by Landlord’s architect certifying the date Landlord substantially completed the Tenant Finish Work which will be, as defined in Exhibit B, conclusive and binding upon Landlord and Tenant.
(e) The Ready For Occupancy Date is the earlier to occur of (i) the date the City of Plano approves the Premises for occupancy; or (ii) the date the City of Plano would have approved the Premises for occupancy but for delays caused by any Tenant Party; provided, if Landlord performs any Additional Work, the Ready for Occupancy Date is deemed accelerated by the number of days in addition to any Rent Abatement described in Section 3.2 belowthe Additional Work Period.
Appears in 1 contract
Samples: Office Lease (Espre Solutions Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseExecution Date. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Rent Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure . Tenant shall have the right to execute and return such notice occupy the Premises (or certain portions of the Premises) to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition conduct its business prior to the foregoingRent Commencement Date, subject to provided that (A) Tenant shall give Landlord at least three (3) business days' prior notice of ./ -/// -9- [The Cove at Oyster Point] [Five Prime Therapeutics, Inc.] any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession such occupancy of the Premises to Tenant on (or before January 2, 2015 (the “Base Rent Delivery Date”portion thereof), Tenant (B) a temporary certificate of occupancy or its equivalent shall be entitled to one (1) day of per diem Base Rent abatement have been issued by the appropriate governmental authorities for each day commencing on the day after the Base Rent Delivery Date such portion to be occupied, and ending on the date Landlord so tenders possession (C) all of the Premises terms and conditions of this Lease shall apply (including, without limitation Tenant's obligation to deliver a certificate of insurance to Landlord in accordance with the terms of Section 10.4 below), other than Tenant. Any such 's obligation to pay "Base Rent," as that term is defined in Article 3 below, and "Tenant's Share" of the annual "Building Direct Expenses," as those terms are defined in Article 4, below, as though the Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowCommencement Date had occurred.
Appears in 1 contract
Samples: Sublease (Sutro Biopharma, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The execution and delivery hereof by Landlord and Tenant, provided that the term of this Lease (the “"Lease Term”") shall be as set forth in Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that Notwithstanding the Premises are currently occupied by another tenant of the Building. If Landlord is unable foregoing, if for any reason to deliver possession the Bridgepoint Lease (as defined in Section 2.2 [Sublease of the Premises Prior to Tenant on any specific date the Lease Term] below) is terminated prior to the Bridgepoint Expiration Date (as defined in Section 2.2 below), then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity Lease Commencement Date of this Lease or shall be adjusted to be the obligations day immediately following the day such early termination of Tenant hereunderthe Bridgepoint Lease is effective (the “Revised Lease Commencement Date”), except that in such instance (i) the Lease Term will be extended to add the additional period of time commencing as of the Revised Lease Commencement Date and ending on April 30, 2020, (ii) the Base Rent payable under this Lease during the period from the Revised Lease Commencement Date through April 30, 2020 will be the same rate payable by Bridgepoint under the Bridgepoint Lease during such time period, (iii) the Base Year will be 2010 during such time period (but will be adjusted to 2020 effective as of May 1, 2020) and (iv) effective as of May 1, 2020, Base Rent will be payable in accordance with the rent schedule set forth in Section 8 of the Summary of Basic Lease Information. For purposes clarity, the Lease Expiration Date of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form remain as set forth in Exhibit C, attached hereto, as a confirmation only Section 7.3 of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days Summary of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinBasic Lease Information. In addition the event of a default by Bridgepoint under the Bridgepoint Lease, Landlord will provide a copy of any notice of default sent to Bridgepoint to Tenant, and Tenant will have the foregoingright, subject but not the obligation, to any delays caused cure such default on behalf of Bridgepoint and will be provided the same notice and cure period provided to Bridgepoint under the Bridgepoint Lease. If Tenant cures such default, Landlord will accept such cure and will not terminate the Bridgepoint Lease by Tenant or any Tenant Parties reason of such default. Landlord further agrees that so long as no uncured default by Bridgepoint occurs under the Bridgepoint Lease (following notice and events of Force Majeurecure, if Landlord fails including the notice and opportunity to tender possession of the Premises cure extended to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”as noted above), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.will not enter into an [FINAL EXECUTION COPY]SMRH:478611488.18 -3- 600 B STREETMitek Systems, Inc. 92917 35XW-244846
Appears in 1 contract
Samples: Office Lease (Mitek Systems Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the date that Landlord achieves Substantial Completion of the Base Building Work and Substantial Completion of the Leasehold Improvement Work (as such terms are defined in the Construction Addendum) (the “Lease Term Commencement Date,” as that term is set forth in Section 3.2 of the Summary”), and shall terminate continue for a period of one hundred eighty (180) calendar months following the Base Rent Commencement Date (as hereinafter defined), plus any partial days in the month in which the Base Rent Commencement Date falls (if not on the “Lease Expiration Date,” as that term is set forth in Section 3.3 first of the Summarymonth), unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges so that the Premises are currently occupied by another tenant expiration date of the BuildingTerm will be the last day of a month. If Landlord is unable for any reason Notwithstanding the foregoing, Tenant shall have no right to deliver possession of the Premises until Tenant has provided Landlord with a certificate of insurance evidencing the insurance coverages that Tenant is obligated to maintain pursuant to this Lease. Landlord and Tenant shall execute a Memorandum of Lease Commencement substantially in form and substance as Exhibit “C,” attached hereto and made a part hereof establishing the Term Commencement Date and the Base Rent Commencement Date as soon as such dates have been determined in accordance with this Lease. The period of time from the first (1st) day of the first (1st) full month after the month in which the Term Commencement Date occurs (or the Term Commencement Date itself, if it occurs on any specific date , then Landlord shall not be subject the first day of the month) to any liability for its failure to do sothe last day of the twelfth (12th) calendar month thereafter, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive successive twelve (12) month period during the Lease Term. At any time during the Lease Termthereafter, Landlord may deliver is referred to Tenant a notice in the form as set forth in Exhibit C, attached hereto, herein as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery DateLease Year.”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Lease Agreement (Office Depot Inc)
Lease Term. (a) The terms and provisions Initial Term of this Lease shall commence on the Lease Commencement Date and shall continue in full force and effect for the period of time specified as the Initial Term in Part A above, or until this Lease is terminated as otherwise provided in this Lease. The Lease Commencement Date and the Initial Term shall be effective confirmed by Landlord and Tenant by the execution of an Estoppel Certificate, the form of which is attached hereto as Exhibit "B" ("Estoppel Certificate"). Failure to execute said Estoppel Certificate shall not affect the commencement nor expiration of the Lease Term. In the event the Lease Commencement Date is a date other than the first day of a calendar month, the Initial Term shall run for the number of months set forth in Part A above from the first day of the calendar month following the Lease Commencement Date. As used in this Lease, "Lease Term" shall mean the Initial Term and any Extension Terms.
(b) Tenant's obligation to pay Rent shall commence on the Rent Commencement Date.
(c) Provided there does not then exist an "Event of Default" (as defined below), Tenant shall have the number of options set forth in Part A above to renew this Lease for the Extension Term(s). Base Rent for each Extension Term shall be as set forth in Part A above. Tenant may exercise its option to extend this Lease by giving Landlord written notice of its election to do so not later than the Option Exercise Date.
(d) Subject to Tenant's right to extend this Lease pursuant to Section 1.02(c) above, either party may terminate this Lease by providing written notice to the other party at least sixty (60) days prior to the expiration of the Lease Tenn. In the event that neither party provides the other such notice, this Lease shall continue on the same terms and conditions for an additional term of one (1) month, and so on from month to month, unless and until terminated by either party as provided above. In such event, each such additional one (1) month term shall be considered as part of the "Lease Term" for purposes of this Lease. The Base Rent for each such additional one (1) month term of this Lease shall be equal to the Base Rent for the month immediately preceding such additional one (the “Lease Term”1) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summarymonth term; provided, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summaryhowever, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied monthly Base Rent payable by another tenant of the Building. Tenant shall increase by three percent (3%) on August 1, 2016 and on each anniversary thereafter.
(e) If Landlord is shall be unable for any reason to deliver possession of the Premises to Tenant on the Lease Commencement Date for any specific date reason, then in any such case Landlord shall not be subject to any liability to Tenant. Under such circumstances, the Rent reserved and covenanted to be paid herein shall not commence until possession of the Premises is given or the Premises are available for its use by Tenant, and no such failure to do so, and such failure give possession shall not in any other respect affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only obligation of the information set forth therein, which Tenant shall execute and return to Landlord within ten hereunder (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is except as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties date of commencement and events accrual of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”Rent), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. The terms basic term of this Lease with respect to the Property (the “Basic Term”) shall begin upon the Commencement Date and provisions shall end six years and eleven months after the Closing Date (the “Basic Term Expiration Date”), unless the Basic Term is renewed or earlier terminated. The obligations of the parties under this Lease shall not commence until the Commencement Date. To the extent no Lease Default or Lease Event of Default has occurred and is continuing as of the Basic Term Expiration Date or the last day of the immediately preceding Renewal Term, as applicable, Lessee may, not less than three hundred sixty (360) days and no more than seven hundred twenty (720) days prior to the Basic Term Expiration Date or the last day of the first or second (but not the third) Renewal Term, if any, by irrevocable notice to Lessor, the Lenders and the Agent make written request to extend the Expiration Date for an additional period in each such Renewal Term of five (5) years. Lessor, each Lender and the Agent shall each make a determination, in the absolute and sole discretion of each such party, within ninety (90) days of receiving a request from Lessee to renew the term of this Lease as to whether or not such party will agree to renew the term of this Lease as requested; provided, however, that failure by any such party to make a timely response to Lessee’s request to renew the term of this Lease shall be effective as of deemed to constitute a refusal by such party to renew the date term of this Lease. The In response to a request to renew the term of this Lease, if (a) Lessor, each Lender and the Agent shall each agree to the requested renewal of the term of this Lease by delivering written confirmation of such acceptance of renewal of the term of this Lease to the Agent, Lessee and Lessor, then the Lease shall be renewed and shall expire on the date which is six years and eleven months after the then current Expiration Date or (b) Lessor, any Lender or the “Lease Agent shall refuse (or deem to have refused) to agree to the requested extension, then the Term shall not be extended and shall expire on the then current Expiration Date and unless the Lessee properly makes an election pursuant to Section 20.1, the Lessee shall be deemed to have elected the Purchase Option which shall be exercised on the then current Expiration Date. Each Renewal Term”) , if any, shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 day immediately following the Basic Term Expiration Date or the last day of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease first or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease second Renewal Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowapplicable.
Appears in 1 contract
Lease Term. (a) The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) Term shall commence on the “Lease Phase I Commencement Date,” as that term is set forth in Section 3.2 Date and shall continue until the expiration of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, Term unless this Lease is sooner terminated earlier or extended in accordance with the provisions of this Lease.
(b) The Phase I Commencement Date shall be the date on which Landlord substantially completes construction of the tenant improvements in the Phase I Space, as hereinafter provideddetermined pursuant to Section 5 of Exhibit B attached hereto and made a part hereof, or the date on which Tenant commences beneficial use of the Phase I Space, whichever date occurs first. The Phase II Commencement Date shall be the date on which Landlord substantially completes construction of the tenant improvements in the Phase II Space, as determined pursuant to Section 5 of Exhibit B attached hereto and made a part hereof, or the date on which Tenant commences beneficial use of the Phase II Space, whichever date occurs first. Tenant hereby acknowledges shall be deemed to have commenced beneficial use of the Phase I Space or the Phase II Space when
(c) Promptly after the Phase I Commencement Date and the Phase II Commencement Date have been determined, Landlord and Tenant agree to execute a written declaration in the form attached hereto as Exhibit C setting forth the Phase I Commencement Date and the Phase II Commencement Date, as applicable, and the date upon which the Lease Term will expire. Failure to sign said written declaration shall not affect the commencement or expiration of the Lease Term.
(d) It is presently anticipated that the Premises are currently occupied Phase I Space will be ready for occupancy by another tenant of Tenant on or about December 1, 1997, and that the BuildingPhase II Space will be ready for occupancy by Tenant on or about December 1, 1998. If Landlord is unable to complete construction of the tenant improvements in, or otherwise deliver possession of, the Phase I Space or the Phase II Space by such dates, Landlord's liability to Tenant on account of Landlord's inability to deliver possession thereof to Tenant shall be limited to the amount specified in Section 7(g) of Exhibit B, and this Lease shall not be rendered void or voidable as a result of such delay. If the tenant improvements have not been substantially completed by the date referred to above due to omission, delay or default by Tenant or anyone acting under or for any reason Tenant, Landlord shall have no liability because of such delays, and the obligations of this Lease (including, without limitation, the obligation to pay rent) shall nonetheless commence as of the Phase I Commencement Date or the Phase II Commencement Date as applicable.
(e) Landlord shall have no obligation to deliver possession of the Premises Phase I Space or the Phase II Space to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do soTenant, and such failure Tenant shall not affect have no obligation to accept delivery of the validity Phase I Space or the Phase II Space from Landlord, before the Phase I Commencement Date or the Phase II Commencement Date, as applicable.
(f) Subject to the provisions of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve subsection (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”f), Tenant shall be entitled have, and is hereby granted, an option to renew or extend the Lease Term for the entire Premises for one (1) day additional period of per diem Base Rent abatement for each day commencing on sixty (60) months (such additional period being hereinafter referred to as the day after "Renewal Term").
i) This renewal option shall be exercisable by Tenant by giving written notice to Landlord of Tenant's intention to exercise such renewal option not more than fourteen (14) months but no later than nine (9) months before the Base Rent Delivery Date and ending on the date Landlord so tenders possession expiration of the Premises initial Lease Term. If Tenant shall fail to Tenant. Any such Base Rent Abatement shall be separate from exercise the renewal option at the time and in addition the manner hereinabove provided or should Tenant fail to any Rent Abatement described in Section 3.2 below.execute an addendum to this Lease within thirty (30) days of the determination
Appears in 1 contract
Samples: Assignment of Lease (Advanced Switching Communications Inc)
Lease Term. (a) The terms and provisions initial term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (the “Lease 10) years ("Term”") ---- and shall commence on the “Lease date hereof ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate ----------------- at 5:00 P.M. local time on the “Lease tenth (10th) anniversary of the Commencement Date (the "Expiration Date,” as "). ---------------
(b) Provided that term Tenant is set forth not in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes default of this Lease, Tenant shall have the option to renew this Lease for three (3) renewal terms of five (5) years each commencing upon the expiration of the initial ten (10) year Term or any previous renewal term, as the case may be, and ending at 5:00 P.M. local time five (5) years thereafter, unless any such renewal term “shall sooner terminate in accordance with this Lease Year” or otherwise; provided that (i) Tenant shall mean each consecutive twelve have notified Landlord in writing of Tenant's exercise of such renewal option not later than six (126) month months prior to the expiration of the initial Term hereof or the then existing renewal term, as the case may be, (ii) at the time such notice is given, this Lease shall be in full force and effect and Tenant shall not be in default hereunder for such period of time as would entitle Landlord to terminate this Lease pursuant to the terms hereof. Such renewal terms shall be upon all of the agreements, terms, covenants and conditions hereof except that Tenant shall pay Base Rent (hereinafter defined) to Landlord in monthly installments in an amount equal to the greater of (i) the fair market rate (the "Fair Market Rent") for ---------------- the Real Property (as defined herein) or (ii) one hundred and ten percent (110%) of the existing Base Rent on an "AS IS, WHERE IS" basis as of the commencement of the renewal term, as designated by Landlord within twenty (20) days after Landlord receives Tenant's renewal notice, but in no event greater than the rate of Base Rent in effect at the scheduled expiration of the Term or the applicable renewal term plus twenty-five percent (25%) thereof. In addition, during the Lease Termrenewal term, Tenant shall pay all other rent and other amounts due under the Lease. At any time during If Tenant does not approve of Landlord's designation of the Lease TermBase Rent for the renewal term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretothen Tenant, as a confirmation only of the information set forth thereinits sole remedy, which Tenant shall execute and return may submit in writing to Landlord within ten (10) business days after the Landlord's delivery of receipt thereof; providedits determination Fair Market Rent to Tenant (the "Renewal Commencement Date"), howeverits good faith ------------------------- determination of Fair Market Rent with appropriate back-up documentation. If the Tenant's determination of Fair Market Rent is within ten percent (10%) of the Landlord's determination of the same, the "Fair Market Rent" shall equal the ---------------- median number between each of the Tenant’s failure 's and Landlord's determination (but in no event shall the Fair Market Rent be less than the Base Rent existing on the last day of the Term plus ten percent (10%)). If the Tenant's determination of Fair Market Rent is not within ten percent (10%) of the Landlord's determination --- of the same, each of the Landlord and the Tenant shall choose an appraiser on the eleventh (11th) day after the Renewal Commencement Date to execute determine the "fair market rent" and return such notice to Landlord within such time the initial determinations shall be conclusive upon Tenant that disregarded for all purposes in determining the information set forth in such notice is as specified thereinFair Market Rent. In addition Each appraiser shall diligently attempt to agree on the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant Fair Market Rent on or before January 2, 2015 the twenty-fourth (the “Base Rent Delivery Date”), Tenant shall be entitled to one (124th) day of per diem Base Rent abatement for each day commencing on the day after the Renewal Commencement Date. If such appraisers agree on the Fair Market Rent on or before the twenty-fourth day after the Renewal Commencement Date, such agreed sum shall constitute the "Fair Market Rent". If the appraisers have not agreed on the Fair Market Rent by such day, (a) the appraisers shall select an independent third appraiser (the "Final Appraiser"), and (b) each such --------------- original appraiser shall deliver in writing to the Final Appraiser their last determination of the sum (each such sum being hereinafter referred to as the "Appraisal Price") that such appraiser believes is the Fair Market Rent. On or --------------- before the twenty-ninth (29th) day after the Renewal Commencement Date, the Final Appraiser shall choose one Appraisal Price or the other Appraisal Price as the "Fair Market Rent". Notwithstanding anything to the contrary herein, in no ---------------- event shall the Fair Market Rent be less than the Base Rent Delivery Date and ending on in effect at the date Landlord so tenders possession last day of the Premises to TenantTerm plus ten percent (10%) thereof. Any Tenant shall have no further renewal rights after the expiration of such Base Rent Abatement renewal terms. Upon the commencement of each renewal term, (x) the renewal term shall be separate from added to and become part of the Term, (y) any reference in addition this Lease, to the "Term", the "term of this Lease" or any Rent Abatement described in Section 3.2 belowsimilar expression shall ---- be deemed to include the renewal terms, and (z) the Expiration Date shall become the expiration of the applicable renewal term .
Appears in 1 contract
Samples: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term, provided that if the Lease Commencement Date occurs on other than the first day of a month, the first “Lease Year” shall commence on the Lease Commencement Date and end on the last day of the month in which the first anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first day of a calendar month, then the first Lease Year shall commence on the Lease Commencement Date and end on the day immediately preceding the first anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided. Notwithstanding the foregoing, howeverif the Early Occupancy Date (as defined in Section 2.1.2 below) has not occurred, (1) on or before March 20, 2024, then, as Tenant’s failure sole remedy for such delay, the date Tenant is otherwise obligated to execute and return commence payment of rent as to the Early Occupancy Space after the Lease Commencement Date shall be delayed by one day for each day that the Early Occupancy Date is delayed beyond such date, or (2) September 1, 2024, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord within such time shall be conclusive upon 0000-0000-0000.7371310.00016/10-2-23/gjn/gjn -7- [Britannia Oyster Point][Pliant Therapeutics] reimbursed to Tenant. In addition, notwithstanding the foregoing, if Landlord has not delivered possession of the remainder of the Premises (other than the Early Occupancy Space) Substantially Complete on or before September 15, 2024, then, as Xxxxxx’s sole remedy for such delay (but subject to the terms of the preceding sentence), the date Tenant is otherwise obligated to commence payment of rent as to the portion of the Premises on the first floor of the Building shall be delayed by one day for each day that the information delivery date is delayed beyond such date. All of the foregoing dates shall be extended to the extent of any delays in delivery of possession caused by (i) Tenant Delay, as provided in Section 5.2 of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay shall not extend any such date by more than fifteen (15) days, other than the date set forth in such notice is as specified therein. In addition item (2) above which may be extended up to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 thirty (the “Base Rent Delivery Date”30) days), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Lease (Pliant Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before May 1, 2019, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Samples: Lease (Alector, Inc.)
Lease Term. 6.1. The terms and provisions Lessee may not shorten the Lease Term or terminate the Lease Agreement prior to the end of this the Lease Term.
6.2. At the conclusion of the Lease Term, the Lease Term shall be effective as of automatically extended for the date of this Lease. The term of this Lease (the “Additional Lease Term”) shall commence on the “Lease Commencement Date,” , as that term is it may be (three years or one year), as set forth in Section 3.2 Appendix A, all unless the Lessee provides the Lessor with at least 120 days’ written notice prior to the end of the SummaryLease Term of its desire not to extend the Lease Term for the Additional Lease Term (hereinafter, “Notice of Non-Exercise”). If no such Notice of Non-Exercise is given, the Lessee shall be deemed to have exercised the Additional Lease Term.
6.2.1. Quarterly post-dated checks and/or a valid bank debit order ("standing order") for the payment of the Base Rent and shall terminate on advanced payments of the “management fees for the Additional Lease Expiration Date,” Term in the amount the Base Rent and advance payments of the management fees were determined to be during the Additional Lease Term, as that term is set forth stated hereinbelow, plus linkage differentials and VAT;
6.2.2. Completion of the cash deposit amount as stated in Section 3.3 20.1.1 below;
6.2.3. Certificate of insurance in accordance with this Agreement, including for the Summary, unless this relevant Additional Lease is sooner terminated as hereinafter providedTerm. Tenant hereby acknowledges that The foregoing shall be no later than thirty days prior to the Premises are currently occupied by another tenant end of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At In the event the Lessee fails to provide any time during of the foregoing by no later than 30 days before the end of the Lease Term, Landlord this shall be deemed a fundamental breach of the Agreement. For the avoidance of doubt, the foregoing will not preclude the Lessee from exercising its right to extend the Lease Term for an Additional Lease Term, except if it fails to remedy the breach and does not produce the documents required, as stated above, within 7 days of receiving written notice from the Lessor.
6.3. Without derogating from the Lessee’s rights and remedies under this Agreement and applicable law, the Lessor may deliver provide the Lessee written notice 30 days prior to Tenant a notice in the form end of the Lease Term of the cancellation of the Additional Lease Term as set forth in Exhibit CAppendix A, attached heretoif the following condition is met:
6.3.1. The Lessee breaches any of its fundamental undertakings toward the Lessor and fails to remedy them within 7 days of receiving written notice;
6.4. To the extent the Lease Term is so extended, as a confirmation only all the provisions of this Agreement shall also apply to the relevant Additional Lease Term.
6.5. Notwithstanding the provisions of Section 6.4, in each of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after Additional Lease Terms the Base Rent Delivery Date and ending on shall be increased as follows: The Base Rent in the date Landlord so tenders possession first quarter of the Premises to Tenant. Any such Base Rent Abatement relevant Additional Lease Term shall be separate from equal to that in the last quarter of the preceding Lease Term (including linkage differentials) plus the percentage provided in Appendix A.
6.6. Notwithstanding anything stated in this Agreement and/or its appendices, the Lessor may early terminate the Lease Agreement upon 6 (six) months’ prior written notice if a lawful final and peremptory demand is issued by an authority which effectively precludes the use of the Leased Premises in addition accordance with the Lease Purpose. In such case, the Lessee will not have any claim and/or demand against the Lessor for the shortening of the Lease Term with the exception of the Lessee’s right to any Rent Abatement described in Section 3.2 “eviction compensation" as defined below.
Appears in 1 contract
Samples: Lease Agreement (Outbrain Inc.)
Lease Term. The terms Tenant(s) is herein granted the right to occupy the Leased Premises for and provisions during the initial Term of (____) year(s) (____) days/months beginning the first day of ______________, _______ and ending the _____ day of ______________, _______. Notwithstanding section 2.01, the Tenant(s) shall have no right to occupy the Leased Premises until such time as the rent for the first rental period, along with any last month’s rent deposit as may be set out in this Lease shall be effective as agreement, have been paid to the Landlord by guaranteed funds. Failure by the Tenant to pay the Landlord these sums prior to the commencement of the date tenancy shall, at the Landlord’s sole and exclusive option, make this entire agreement null and void, negating any rights of this Leaseoccupancy that the Tenant(s) would otherwise have had, and the Landlord will retain the right to bring an action for any and all damages which may be allowed in law in any Court of competent jurisdiction. The term of this Lease (Notwithstanding section 2.01, the “Lease Term”Tenant(s) shall commence on have no right to occupy the “Lease Commencement Date,” Leased Premises until such time as that term the responsibility for payment of utilities for which the Tenant(s) is obligated to pay under this Agreement have been transferred directly to the Tenant’s name. Failure by the Tenant to transfer and accept responsibility as set forth out in Section 3.2 this Agreement prior to the commencement of the Summarytenancy shall, at the Landlord’s sole and exclusive option, make this entire agreement null and void, negating any rights of occupancy that the Tenant(s) would otherwise have had, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of Landlord will retain the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable right to bring an action for any reason to deliver possession and all damages which may be allowed in law in any Court of competent jurisdiction. At the Premises to Tenant on expiration of any specific date , then Landlord shall not be subject to any liability Lease Term provided for its failure to do so, and such failure shall not affect the validity of in this Lease or the obligations of Tenant hereunder. For purposes of this LeaseAgreement, the term “Lease Year” tenancy shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, continue on as a confirmation only of monthly periodic tenancy in accordance with the information set forth thereinAct unless earlier terminated, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused or renewed by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowagreement.
Appears in 1 contract
Samples: Tenancy Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary subject, however, to the terms of the Tenant Work Letter, and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Landlord shall grant Tenant hereby acknowledges and “Tenant’s Agents,” as that term is defined in Exhibit B, access to the Premises for the purpose of constructing the “Tenant Improvements,” as that term is defined in the Tenant Work Letter, in accordance with the Tenant Work Letter attached hereto on the business day immediately following the date upon which each of the following has occurred: (l) this Lease has been mutually executed by Landlord and Tenant; (2) Tenant has paid/delivered to Landlord all funds/security due to be paid/delivered by Tenant under this Lease including the Letter of Credit and; (3) Tenant has provided Landlord with a certificate evidencing the insurance required to be procured and maintained by Tenant under Article 10 of this Lease (the “Delivery Date”). It is anticipated that the Delivery Date will occur on the business day immediately following the satisfaction of all the requirements in items 1 through 3 above (the “Anticipated Delivery Date”). Tenant may access the Premises are currently occupied by another tenant on the Delivery Date to construct the Tenant Improvements pursuant to Exhibit B and to install Tenant’s furniture, fixtures and equipment, computer and telephone cabling. During said period of early access Tenant shall be subject to Landlord’s reasonable administrative control and supervision and Tenant shall comply with all of the Buildingprovisions and covenants contained herein. If for any reason Landlord is unable for any reason to deliver possession of grant Tenant access to the Premises to Tenant on any specific date the Anticipated Delivery Date, then Landlord this Lease shall not be subject void or voidable, nor shall Landlord be liable to Tenant for any liability for its failure damage resulting from Landlord’s inability to do sodeliver such possession; provided, and such failure shall not affect the validity however, that given that it is a material part of Tenant’s agreement to enter into this Lease or that Tenant can complete the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice Improvements in the form time and manner as set forth in Exhibit C, attached B hereto, in the event that the Landlord is unable to grant Tenant access to the Premises on the Anticipated Delivery Date, the Lease Commencement Date and the Lease Expiration Date, shall be delayed one day for each day of delay until the Delivery Date occurs. Except as a confirmation only of the information set forth thereinotherwise provided herein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, TenantLandlord’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender give possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.on
Appears in 1 contract
Samples: Office Lease (GoodRx Holdings, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”Term described in Section 1(f) shall commence on the “Lease Commencement Date,” as that term is Date set forth in Section 3.2 of the Summary, 1(g) and shall unless otherwise extended or terminated as herein provided terminate on the “Lease Expiration Date,” as that term is Date set forth in Section 3.3 1(h) without the necessity of notice from either Landlord or Tenant, and Tenant shall surrender possession and vacate the Summary, unless this Lease is sooner terminated as hereinafter providedLeased Premises on the Expiration Date. Tenant hereby acknowledges waives. notice to vacate or quit the Leased Premises and agrees that Landlord shall be entitled to the Premises are currently occupied by another tenant benefit of all provisions of law respecting the summary recovery of the BuildingLeased Premises from a tenant holding over to the same extent as if statutory notice had been given. If Landlord is unable for any reason to deliver Tenant takes possession of the Leased Premises after the "Improvements" (as defined in Section 43 of Rider attached hereto and made a part hereof) have been substantially completed" (as defined in Section 43 of the Rider hereto) and prior to the Commencement Date then (i) the Lease Term shall commence as of the date that Tenant take possession of the Leased Premises, (ii) notwithstanding the provisions of Section 4, Annual Fixed Rent and Additional Rent shall be payable in advance on any specific a prorated per diem basis for the period from the date that Tenant takes possession to the Commencement Date, and (iii) such taking of possession prior to the Commencement Date shall not affect the Expiration Date. Tenant's access to construct the Improvements shall not be construed to mean Tenant's possession of the Leased Premises. If (i) the Improvements are not "substantially completed" on the Commencement Date, or (ii) the Leased Premises are not ready for Tenant's occupancy on the Commencement Date by reason of force majeure (defined below), then Landlord shall not be subject to any liability to Tenant by reason of such delay and (a) the Lease Term and the obligation to pay Rent shall commence on the date that the Improvements are "substantially completed", or the date that the Leased Premises are otherwise ready for its Tenant's occupancy, (b) the duration of the Lease Term, as set forth in Section 1(f), shall not be affected thereby, and the Expiration Date set forth in Section 1(h) shall be adjusted accordingly to cover the entire duration of the Lease Term, and (c) such failure to do so, and such failure give possession shall not affect the validity of this Lease or any of the obligations and covenants of Tenant hereunderhereunder as used in this paragraph, force majeure means fires, windstorm, earthquake, war, or acts of God. For purposes Force majeure shall not include strikes or any other labor disturbance. Notwithstanding the foregoing, if the Improvements are not "substantially completed" on the Commencement Date for any reason other than by reason of force majeure, then the Lease Term shall commence on the Commencement Date and the Annual Fixed Rent, Additional Rent and all other charges payable by Tenant hereunder shall commence to accrue on the Commencement Date as if the delay had not occurred. Regardless of force majeure or any other reason, if the Improvements are not "substantially completed" by December 31, 1994, then the Lease Term shall commence on December 31, 1994, and the Annual Fixed Rent, Additional Rent and all other charges payable by Tenant hereunder shall commence to accrue on December 31, 1994. If, pursuant to the provisions of this LeaseSection 3, the term “Lease Year” shall mean each consecutive twelve Term commences on a date other than the Commencement Date, then, within forty-five (1245) month period during days after the date that the actual commencement date of the Lease Term. At any time during the Lease TermTerm has been established, Landlord may deliver to and Tenant shall execute a notice Confirmation of Lease Term in the form attached hereto and made a part hereof as set forth in Exhibit "C, attached hereto, as a confirmation only of the information set forth therein, which ". Tenant shall execute notify Landlord in writing, within thirty (30) days after the Commencement Date, of any defects in the Improvements (and return 120 days with respect to latent defects), and Landlord within ten (10) business days shall, upon receipt of receipt thereof; providedsuch notice, however, Tenant’s failure promptly take reasonable action necessary to execute and return correct any such defect. Except for any defects identified in a written notice from Tenant to Landlord within such time thirty (30) day (and 120 days with respect to latent defects), it shall be conclusive upon Tenant presumed that all work in connection with the information set forth Improvements theretofore performed by or on behalf of Landlord was satisfactorily performed in such notice is as specified therein. In addition accordance with the provisions of this Lease; provided that, to the foregoing, subject extent that Landlord receives or obtains warranties or guarantees from its contractor selected by Landlord to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of make the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement "Improvements" described in Section 3.2 below43 or from the manufacturers of any equipment or fixtures to be provided by Landlord as part of the Improvements, which warranties or guarantees extend beyond said thirty (30) day period, Landlord shall use reasonable efforts to enforce such warranties and guaranties or, at Landlord's option, assign some or all of same to Tenant, if Tenant gives Landlord timely notice of a defect or malfunction covered by such guaranties or warranties.
Appears in 1 contract
Lease Term. The terms and provisions of this (a) This Lease shall be effective as continue in force during a period beginning on Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated or extended to a later date under any other term or provision hereof.
(b) If by the date specified as hereinafter provided. the Commencement Date in Paragraph l (d), the Premises have not been substantially completed pursuant to the Work Letter due to omission, delay or default by Tenant hereby acknowledges that or anyone acting under or for Tenant or due to any cause other than Landlord’s default, Landlord shall have no liability for such failure to complete, and the obligations of this Lease (including without limitation the obligation to pay rent) shall nonetheless commence as of said Commencement Date.
(c) If however the Premises are currently occupied not substantially completed by another tenant the date specified as the Commencement Date in Paragraph l(d) and such failure to complete is due to default on the part of Landlord, then, as Tenant’s sole remedy for the delay in Tenant’s occupancy of the Building. If Premises, the Commencement Date shall be delayed (and the rent herein provided shall not commence) until the earlier of either (i) the date of actual occupancy by Tenant or (ii) the date of substantial completion of the work which Landlord is unable for any reason has agreed to deliver perform.
(d) Tenant agrees to accept possession of the Premises when the Building Standard Improvements to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice Premises as provided in the form as set forth in Exhibit C, attached hereto, as a confirmation only Work Letter have been substantially completed. If there are any finishing touches remaining to be done which will not materially interfere with the conduct of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon business on the Premises, Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession will nevertheless accept delivery of the Premises and allow Landlord to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any complete such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfinishing touches.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) Term shall commence on the “Lease Commencement Date and expire at midnight on the Expiration Date,” as that term is . If Substantial Completion of the Premises has not occurred on the date set forth in Section 3.2 Article 1 as the Commencement Date, then the Commencement Date shall be the date of Substantial Completion; provided, that if Tenant uses or accepts the Premises before Substantial Completion or the date set forth in Article 1 as the Commencement Date, then the Commencement Date shall be the date upon which Tenant uses or accepts the Premises (i.e., the date on which Tenant begins to move furniture, furnishings, inventory, equipment or trade fixtures into the Premises). In such event, the Expiration Date shall be adjusted accordingly so that the period of the SummaryTerm is not changed. If requested by Landlord, Tenant shall within fifteen (15) days of such request sign a declaration acknowledging the Commencement Date and the Expiration Date in the form attached hereto and made a part hereof as Exhibit C. If Landlord, for any reason other than Tenant Delay (as defined in the Work Agreement), cannot deliver the Premises in condition for occupancy by Tenant to conduct its business therein on the Commencement Date specified in Article 1 of this Lease, rent shall abate for the period between said Xxxxxncement Date and the time when Landlord can deliver such possession. In the event the Premises are not in condition for occupancy ninety (90) days after the Commencement Date specified in Article 1 hereof for any reason other than Force Majeure events or Tenant Delay, the Tenant shall have the sole right to cancel or terminate this Lease, without any further obligation on its part, upon giving written notice of its intention to do so (which notice shall specify that it is given pursuant to Section 4.1 of this Lease), provided Tenant's option to cancel and terminate this Lease must be exercised by written notice to Landlord, served no later than thirty (30) days after such right to cancel and terminate arises. If Tenant shall give such notice, then this Lease and the Term and estate hereby granted shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 date of the Summary, unless this Lease is sooner terminated giving of such notice with the same effect as hereinafter provided. Tenant hereby acknowledges that if such date were the Premises are currently occupied by another tenant date herein before specified for the expiration of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity Term of this Lease or the obligations of Tenant and neither party shall have any further obligation to perform hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. a. Tenant shall have and hold the Leased Premises for a term of
b. Provided that no Event of Default (as hereinafter defined) has occurred and is continuing, Tenant shall have the option to extend the Initial Term of this Lease for ( ) periods of years each (each such , a "Renewal Term"; collectively, the "Renewal Terms"; the Initial Term and any and all exercised Renewal Terms are hereinafter collectively referred to as the "Term"). The term "Expiration Date" as used in this Lease shall mean the last day of the Initial Term or, in the event that the Term is extended as provided herein, the last day of the last exercised Renewal Term. Tenant shall exercise said renewal options by giving notice thereof to Landlord not less than three (3) months prior to expiration of the Initial Term or the then-current Renewal Term, as applicable, and, if said notice be given, the Term hereof shall be extended for the Renewal Term for the Rent hereinafter provided and on all of the other provisions, agreements, covenants and conditions as are herein contained (unless changed or modified by mutual written agreement of the parties hereto) shall remain applicable for each Renewal Term, except (i) such of the provisions hereof as have been rendered inapplicable by the passage of time and (ii) the Annual Rent for the initial year of the Renewal Term shall be equal to the fair rental value as determined in Section 3.a.iii. herein.
c. Tenant acknowledges that Landlord's interest in the Leased Premises is a leasehold interest pursuant to that certain ground lease dated October 20, 1999 by and between the City of Millville ("City") as landlord thereunder and Landlord, as tenant thereunder, a memorandum of which was recorded in the office of the Clerk of the County of Cumberland (the "Ground Lease"), and that Tenant's interest in the Leased Premises is a sub-leasehold interest. Tenant acknowledges that the term of the Ground Lease expires on October 20, 2029, subject to certain options to renew contained in the Ground Lease. Pursuant to the terms of such options to renew, the City or the Landlord may, in their sole discretion, elect not to exercise such option. Tenant acknowledges that (i) neither the Landlord nor the City has the obligation to exercise the option to renew, and provisions of (ii) Landlord has made no statement or representations to Tenant, written or oral, with regard to its intent to renew the Ground Lease, and (iii) if either the Landlord or City elects not to exercise the option to renew the Ground Lease, the Tenant's right to renew this Lease shall be effective as void and of no effect. Tenant further acknowledges and agrees that any right granted to Tenant to renew this Lease beyond October 20, 2029 is expressly subject to, and conditioned upon, Landlord's renewal of the date of this Ground Lease. The term Notwithstanding anything contained in this Section 2 to the contrary, Tenant shall not be permitted to extend the Term of this Lease (beyond the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 expiration of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Ground Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Lease Agreement
Lease Term. The terms (a) Tenant shall have and provisions of this Lease shall be effective as of hold the date of this Lease. The Premises for the term of this Lease (the “Lease Term”) shall commence identified in the Basic Lease Provisions, commencing on the February 1, 2007 (“Lease Commencement Date,” as that term is set forth in Section 3.2 ”), regardless of the Summarystatus of Tenant’s initial Tenant Improvements (defined in Exhibit B attached hereto, and shall terminate at midnight on the last day of the sixtieth (60th) full calendar month following the Commencement Date (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges shall use best efforts to complete the Tenant Improvements following the execution of this Lease. Landlord shall use best efforts to complete any Compliance Work (as defined in Exhibit B) and to replace and /or refurbish, as needed, the existing HVAC units prior to the Commencement Date, at Landlord’s sole cost and expense; provided that Landlord shall complete any Compliance Work that constitutes a lifesafety issue prior to the Commencement Date.
(b) Subject to the terms and conditions set forth below, Tenant may at its option (“Renewal Option”) extend the Term of this Lease for one (1) additional two (2) year period (the “Renewal Term”). If Tenant exercises the Renewal Option hereunder, all of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Renewal Term (except for this Renewal Option), including provisions regarding payment of Additional Rent, which shall remain payable on the terms herein set forth, except that the Base Rent payable by Tenant during the Renewal Term shall be as calculated in accordance with Section 2(c) below. To exercise the Renewal Option, Tenant must deliver notice to Landlord not sooner than one hundred eighty (180) days, or later than one hundred twenty (120) days prior to the expiration of the initial Term of this Lease. Thereafter, the Market Rate for the Renewal Term shall be calculated pursuant to Section 2(c) below.
(c) The Base Rent during the Renewal Term shall be the prevailing market rental rate for Comparable Space (as defined below) for a term commencing on or about the commencement date of the Renewal Term (the “Market Rate”). For this purpose, “Comparable Space” shall mean commercial space comparable to the Premises are currently occupied by another tenant that is (i) comparable in size, location, and quality to the Premises; (ii) leased for a term comparable to the Renewal Term; and (iii) located in comparable industrial projects in the vicinity of the Building. If Landlord is unable for any reason to deliver possession of In determining the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this LeaseMarket Rate, the term “Lease Year” parties shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute include all escalations and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute take into consideration free rent and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeureother rental abatement concessions, if Landlord fails any and any tenant improvement allowance or other obligations to tender possession of improve the Premises Comparable Space, if any, being granted to Tenant on or before January 2, 2015 (tenants in connection with the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowComparable Space.
Appears in 1 contract
Samples: Industrial/R&d Lease Agreement (TNAV Holdings, Inc.)
Lease Term. The terms and provisions of this Lease Term shall be effective as of mean the date of this Lease. The term of this Lease (the “Lease Term”) shall commence period beginning on the “Lease above referenced Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate ending on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive Termination Date (an approximately twelve (12) month period term). Landlord shall exercise a good faith effort with respect to delivering possession of the Residence to Tenant on the Commencement Date. In the event Landlord does not deliver possession of the Residence to Tenant on the Commencement Date, but Xxxxxxxx does deliver possession within (45) days after the Commencement Date, then Rent shall be abated on a daily basis during the Lease Termperiod of delay. At Landlord shall not be liable to Tenant for any time during the Lease Term, losses or damages related to such failure to timely deliver possession. If Landlord may cannot deliver to Tenant a the Residence by the first day of the Lease Term because another resident holds over, or for any other reason, Landlord shall not be liable to Tenant or Tenant’s Guarantor for damages, but Tenant will not be required to pay any Rent until the Residence is available. If Landlord is not able to deliver possession to Tenant within forty five (45) calendar days following the Commencement Date, Tenant may, as its sole remedy, cancel the Lease by written notice to Landlord, in which case Xxxxxx’s security deposit will be refunded and Tenant shall have no further liability hereunder. It is expressly understood that this Lease is for the Lease Term regardless of whether Xxxxxx takes occupancy, is transferred, ceases to be enrolled at any school in the form as set forth in Exhibit Carea, attached hereto, as is no longer a confirmation only resident of the information set forth thereinarea or, which Tenant shall execute and return for any other reason, is unable to Landlord within ten (10) business days of receipt thereof; provided, howevercontinue occupying the Residence. Accordingly, Tenant’s failure obligation to execute pay Rent hereunder (and return such notice the Guarantor(s) obligation to ensure payment of the same) shall continue for the entire Lease Term and until all sums due to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified thereinfull. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.546495.1 015821-0002
Appears in 1 contract
Samples: Rental Agreement
Lease Term. (a) The terms and provisions of this Lease shall be effective as Term begins on the earliest to occur of: (1) the date Tenant occupies any part of the date of this Lease. The term of this Lease Leased Premises; (2) the “Lease Term”Commencement Date; or (3) shall commence the Ready for Occupancy Date (defined below); and ends on the “Expiration Date. Notwithstanding the foregoing, if the Ready for Occupancy Date occurs before May 22, 1998, then the Lease Commencement Date,” as that term is set forth in Section 3.2 Term shall begin on the earlier of (i) the date Tenant occupies any part of the SummaryLease Premises or May 25, 1998, and if the Ready for Occupancy Date occurs on or after May 25, 1998 and before July 3, 1998, then the Lease Term shall terminate begin on the “Lease Expiration Date,” as that term is set forth in Section 3.3 earlier of (i) the date Tenant occupies any part of the SummaryLease Premises, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that or (ii) July 3, 1998.
(b) Subject to Paragraph 3(c) below, if the Premises are currently occupied Ready for Occupancy Date does not occur by another tenant of the Building. If Landlord is unable Commencement Date for any reason to deliver possession of the Premises to other than omission, delay, or default by any Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, howeverParty, Tenant’s failure 's obligation to execute pay Rent does not commence until the Ready For Occupancy Date occurs and return such notice to Landlord within such the Expiration Date is extended for a period of time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition equal to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing time period beginning on the day after the Base Rent Delivery Commencement Date and ending on the day before the Ready for Occupancy Date. This abatement of Rent is Tenant's sole and exclusive remedy and is full settlement of all claims that Tenant has against Landlord by reason of the Leased Premises not being ready for occupancy by Tenant on the Commencement Date.
(c) If Tenant occupies any part of the Leased Premises before the Commencement Date or the Ready for Occupancy Date, as applicable, the Lease Term and Tenant's obligation to pay Rent commence on the date Landlord so tenders Tenant occupies the Leased Premises and the Expiration Date is 126 months after the date on which Tenant's occupancy commences. Tenant is deemed to OCCUPY the Leased Premises when Tenant takes possession of any part of the Leased Premises for any purpose, including placing furniture and installing Tenant's equipment in the Leased Premises.
(d) When the first day of the Lease Term is established pursuant to Tenant. Any such Base Rent Abatement this Paraxxxxx 0, Xxxxxxxx xxxll prepare and Landlord and Tenant shall be separate from and exchange a letter acknowledging that date and, if the Expiration Date changes under this Paragraph, the Expiration Date.
(e) The READY FOR OCCUPANCY DATE is the earlier to occur of:
(1) the date that Landlord notifies Tenant that the City of Dallas has approved the Leased Premises for occupancy; or
(2) the date the City of Dallas would have approved the Leased Premises for occupancy but for delays caused by any Tenant Party; provided, if Landlord performs any Additional Work (defined in addition to any Rent Abatement described EXHIBIT F), the Ready for Occupancy Date is deemed accelerated by the number of days in Section 3.2 belowthe Additional Work Period (defined in EXHIBIT F).
Appears in 1 contract
Samples: Office Lease (Penson Worldwide Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the date set forth in Section 3.4 of the Summary (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, ”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Lease Commencement Date and each consecutive subsequent twelve (12) month period during the Lease Term; provided, however, if the Lease Commencement Date is other than the first (1st) day of a calendar month, “Month 1” will include the first full calendar month following the Lease Commencement Date plus any partial calendar month following the Lease Commencement Date. In the event Month 1 includes any partial calendar month, Tenant shall pay the prorated amount of Monthly Base Rent for such partial calendar month pursuant to Article 3 in addition to the Monthly Base Rent for the ninth (9th) full calendar month of the Lease Term (and to the extent that Month 1 is included as part of the Abatement Period, any such partial calendar month shall be excluded from the Abatement Period). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C2.1, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute (or provide factual correction to) and return to Landlord within ten (10) business days of receipt thereof; provided, however, but execution of such instrument shall not be a condition to Lease commencement or Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowobligations hereunder.
Appears in 1 contract
Lease Term. The terms and provisions of this This Lease shall be effective as of the date of this Lease. The for a term of this Lease month(s) beginning on the day of , 200 , and ending on the day of , 200 (the “Lease Term” or “Term”) at which time this Lease will revert to month-to-month, unless notified by the Resident. If Resident desires to terminate this Lease at the end of the initial term and the Resident is changing duty stations, retiring, or separating, the Resident shall commence give Landlord thirty (30) days written notice prior to the end of the term. If no notice is given, then the Lease will be governed by the provisions of Section 22. Residents terminating this Lease at the end of the initial term for all other reasons, must give notice before the fifth (5th) of the month to be effective on the “last day of the month. If said notice is given after the fifth (5th) of the month, Lease Commencement Date,” as that term termination shall be the last day of the next calendar month following the month in which notice is set forth given. After the expiration of the Lease, the Resident shall not remain in possession of the Premises without the Landlord’s prior written consent. If the Landlord consents to the Resident’s continued occupancy, the tenancy shall be deemed to be month-to-month and the rental rate shall be not less than the rate established in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building3. If Landlord is unable for any reason to deliver possession of the Premises to Tenant the Resident on any specific the first date shown above in Section 2 (the “agreed upon date”), then Landlord shall not be subject due to any liability for its failure to do sodelays in the construction or renovation of the Premises beyond the control of the Landlord, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereundershall remain in effect. For purposes of this LeaseHowever, the term “Lease Year” shall mean each consecutive twelve if such delay exceeds five (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (105) business days then, at the Resident’s option, this Lease may be terminated by Resident upon three (3) days notice at which point this Lease shall become null and void and any deposit or rent paid by Resident prior to the date of receipt thereof; providedsuch termination will be promptly returned to Resident by Landlord via direct deposit and Landlord shall have no further liability under the Lease for failure to deliver possession of the Premises. However, howeverif the Resident does not exercise its option to terminate this Lease due to such delay, Tenantthe Landlord shall provide the Resident with comparable temporary accommodations that are reasonably acceptable to Resident for a period not to exceed sixty (60) days at the same rental rate as provided for herein, and/or shall reimburse Resident for the costs of temporary accommodations obtained by Resident. Landlord shall further reimburse Resident for actual out-of-pocket costs and expenses incurred by the Resident as the result of the Landlord’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender deliver possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after agreed upon date. By way of example only, and not limitation, Landlord shall reimburse Resident for the Base Rent Delivery Date costs of obtaining temporary storage for the Resident’s furniture and ending on the date Landlord so tenders other goods, and fees to kennel, board or otherwise house Resident’s pets. If possession of the Premises is not delivered within sixty (60) days of the agreed upon date, then either the Resident or Landlord may terminate this Lease, provided that in the case of termination by either party, Landlord shall reimburse the Resident for the relocation and other costs and expenses incurred by Resident in connection with obtaining comparable substitute housing, including any security deposits and payment of the difference between the monthly rent that would have been due from Resident under this Lease and the monthly rent that the Resident shall actually be required to Tenant. Any pay for such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowsubstitute housing.
Appears in 1 contract
Samples: Military Housing Lease
Lease Term. The terms and provisions term ("Term") of this Lease shall be effective as of the date of is stated above in 2 (e), and subject to Tenant's 365-Day and 180-Day Termination Option provided for in this Lease. The term of this Lease (the “Lease Term”) Section 4.1, shall commence on the “Lease Scheduled Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, Date unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant not "Ready for Occupancy" as hereinafter defined, on the Scheduled Commencement Date, in which case the commencement and termination dates of the BuildingLease shall be adjusted accordingly based on the date the Premises are Ready for Occupancy. If Landlord is unable for Excepting Tenant's 365-Day Termination Option and 180-Day Termination Option as they are defined in this Section 4.1, the deferral of Tenant's rental obligation with respect to the Premises shall be in full satisfaction of any reason to deliver possession and all rights which Tenant might otherwise have as a result of the Premises to Tenant on any specific delayed commencement date , then Landlord shall not be subject to any liability of the Lease Term hereof. "Ready for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” Occupancy" as used herein shall mean each consecutive twelve (12) month period during the Lease Term. At any time during date that landlord shall have substantially completed the Lease Term, work to be performed by Landlord may deliver to Tenant a notice in the form as set forth in Exhibit "C, attached hereto", as certified to by Landlord's architect, and a confirmation only Certificate of Occupancy has been issued by the City of Hillsboro, but in no event earlier than July 1, 1998. The date the Premises are Ready for Occupancy shall be the "Commencement Date" of this Lease. If the commencement of the information Lease Term is delayed as aforesaid and the Commencement Date would otherwise occur on a day other than the first day of the month, such Commencement Date shall be further delayed until the first day of the following month and Tenant shall pay proportionate Rent at the same monthly rate set forth thereinherein (also in advance) for such partial month. In the event the Commencement Date is delayed, which the expiration of the Term hereof shall also be delayed so that the Lease Term will continue for the full period set forth above. As soon as the Lease Term commences, Landlord and Tenant shall execute an amendment to this Lease, which may be required by either party, setting forth the exact "Commencement Date" and return expiration date of the Lease Term. Subject to Landlord within ten force majeure (10as defined in Section 4.5 of this Lease) business days and Tenant Delay (as defined in Exhibit "C" of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeurethis Lease), if Landlord fails to tender possession have the Premises Ready for Occupancy within 180 days from the Scheduled Commencement Date specified in Section 2(f) of this Lease, then Tenant shall have the option (exercisable within the thirty (30) day period after the 180th day or such later day determined by operation of the Premises force majeure or Tenant Delay following the Scheduled Commencement Date) to terminate this Lease ("180-Day Termination Option"). Subject to Tenant on or before January 2Delay, 2015 (if Landlord fails to have the “Base Rent Delivery Premises Ready for Occupancy within 365 days from and after the Scheduled Commencement Date”), then Tenant shall have the option (exercisable in writing within the thirty (30) day period after the 365th day following the Scheduled Commencement Date) to terminate this Lease ("365-Day Termination Option"). Excepting the 365-Day and 180-Day Termination Options, this Lease shall not be terminable by Tenant, and Tenant shall in no event be entitled to one (1) day an abatement or reduction of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described except as expressly set forth in Section 3.2 below12.3 or Section 13.1.
Appears in 1 contract
Lease Term. 7.1 The Lease Term begins on the date that has been recorded for this purpose in the Delivery Protocol of the Warehouse part of the Property, in the event that its delivery is carried out on a date other than the Offices part of the Property (the “Start Date”).
7.2 The Lease Term is set within the determined period of five (5) years from the Start Date.
7.3 The Lease Term shall be automatically extended for successive periods of three (3) years each until the Lease reaches a maximum duration of eleven (11) years, unless the Tenant notifies the Landlord in writing, at least six (6) months prior to the end of the term of each of the extensions, of its decision not to extend it.
7.4 For the avoidance of doubt, in the event that the Landlord does not receive the notification referred to in the previous Clause, it shall be understood that the Tenant has granted its agreement to the extension of the Agreement in the indicated terms. The duration of each extension shall be mandatory.
7.5 This Lease may only be terminated prior to the end of the Lease Term for the reasons provided for in Clause 18. This Lease may only be automatically extended in the event and in the terms established in Clause 7.3, without the tacit renewal provided for in Article 1566 of the Civil Code being applicable.
7.6 The Lease Term and provisions the term of any of the extensions that are applicable in accordance with Clause 7.3 are mandatory for both parties, so that the Tenant may not terminate the Lease prior to the end of the Lease Term or any of the extensions that are in progress. The Tenant expressly accepts that the mandatory nature of the initial Lease Term and, if applicable, of any of its extensions constitutes an essential element of this Lease shall be effective as of agreement, determining the date Landlord’s willingness to proceed with the execution of this Lease. The term Consequently, any waivers, unilateral or early termination of this Agreement by the Tenant that takes place prior to the end of the Lease Term or any of its ongoing extensions - regardless of whether it occurs under applicable law (e.g. insolvency proceedings)- shall be considered a serious breach of this Agreement and shall entitle the “Landlord to demand from the Tenant a conventional penalty consisting of an amount equal to the amount of the Rent corresponding to the Lease Term”) Term or the ongoing extension remaining to be fulfilled (plus the one that is applicable, where appropriate, pursuant to Clause 2.11 and/or 18.6). This conventional penalty has been freely agreed by the Parties and constitutes the amount in which both quantify the damages caused to the Landlord for the breach of this essential obligation to remain for the entire Lease Term and, where applicable, the extensions. The Tenant expressly accepts the proportionality of this penalty in consideration of the essential nature of the Lease Term or any of its extensions and expressly waives the right to exercise any actions aimed at the judicial moderation of the penalty or to delay or avoid its fulfillment and execution.
7.7 Notwithstanding the provisions of Clause 7.5, the Parties expressly agree that the Tenant shall commence have the power to withdraw from the Lease, which may only be exercised with effect on the “Lease Commencement Date,” as that term is set forth in Section 3.2 date on which three (3) years of the SummaryLease Term are reached, and shall terminate on by notifying the “Lease Expiration Date,” as that term is set forth in Section 3.3 Landlord with a prior notice of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during months, that is, on the date on which two (2) years of the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice Term is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 reached (the “Base Rent Delivery DateWithdrawal Faculty”). In the event of the exercise of the Withdrawal Faculty by the Tenant, Tenant the Landlord shall be entitled to one (1) day an economic compensation for an amount equal to eight months of per diem Base the Fixed Part of the Rent abatement for each day commencing in force on the day after effective date of said withdrawal, plus the Base Rent Delivery Date and ending on the date Landlord so tenders possession total unpaid amount of the Premises Supplementary Rent Part pending payment (the “Withdrawal Compensation”), plus the corresponding Value Added Tax. For the valid exercise of the Withdrawal Faculty, the payment of the Withdrawal Compensation by the Tenant to Tenant. Any such Base Rent Abatement the Landlord shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowindispensable simultaneously with the notification of the exercise of the Withdrawal Faculty.
Appears in 1 contract
Samples: Non Residential Lease Agreement (RMG Acquisition Corp. III)
Lease Term. The This Lease Term (the “Term”) is for 38 months, and shall commence on Sixty days from the execution of this Lease document by both parties (“Commencement Date”), and shall expire (unless sooner terminated or extended as herein provided) at noon 38 sixty months from the “Commencement Date. (“Expiration Date”). In the event Landlord shall permit Tenant to take possession of the Premises prior to the Commencement Date referenced above, all the terms and provisions conditions of this Lease shall be effective as apply. It is acknowledged and agreed by both parties that rent shall begin 60 days after the commencement of the date of this Lease. The term of this Lease (Tenant shall have the “Lease Term”) shall commence right to store and or install a computer system in the conference room area as noted on Exhibit B, prior to the “Lease Commencement Date,” as that term is set forth in Section 3.2 commencement of the SummaryLease, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summarybut not before August 10, unless this Lease is sooner terminated as hereinafter provided1999, with no rent charged to Tenant. Tenant hereby acknowledges that assumes all responsibility for the Premises are currently occupied by another tenant computer system and waives any and all claims against Landlord for damages which may occur to the system. Further, Tenant must provide Landlord a certificate of Insurance prior to installing the Buildingsaid equipment on or after August 10, 1999. If Landlord is unable Landlord, for any reason to whatsoever, cannot deliver possession of the Premises to Tenant on any specific date the Commencement Date, then Landlord this Lease shall not be subject to any liability for its failure to do sovoid or voidable, no obligation of Tenant shall be affected thereby, and neither Landlord no [ILLEGIBLE] gents shall be liable to Tenant for any loss or damage resulting from the delay in delivery of possession [ILLEGIBLE] however, that in such failure shall not affect event, the validity of this Lease or the obligations of Tenant hereunder. For purposes Commencement Date and Expiration Date of this Lease, and all other [ILLEGIBLE] may be affected by their change, shall be revised to conform to the date of Landlord’s delivery of possession to Tenant. The above, however, is subject to the provision that the period permitted for the delay of delivery of possession of the Premises shall not exceed ninety (90) days after the Commencement Date set forth in the first sentence of this Section 3.1 (except that those delays beyond Landlord’s control, including, without limitation, those encompassed in the meaning of the term “Lease Year” force majeure”, or caused by Tenant (the “Delays”) shall mean each consecutive twelve (12) month period during the Lease Termbe excluded in calculating such period). At any time during the Lease Term, If Landlord may does not deliver possession to Tenant a within such period, then Tenant may terminate this Lease by written notice in to Landlord; provided, that written notice shall be ineffective if given after Tenant takes possession of any part of the form Premises, or if given more than one hundred (100) days after the original Commencement Date plus the time of any Delays. Unless expressly otherwise provided herein, Rent (as hereinafter defined) shall commence on the earlier of: (i) the Commencement Date; (ii) occupancy of the Premises by Tenant; (iii) the date Landlord has the Premises ready for occupancy by Tenant, as such date is adjusted under the Workletter, if any, attached hereto; or (iv) the date Landlord could have had the Premises ready had there been no Delays attributable to Tenant. Unless the context otherwise so requires, the term “Rent” as used herein includes both Base Rent and Additional Rent as set forth in Exhibit C, attached heretoSection 4.1. If the Expiration Date, as determined herein, does not occur on the last day of a confirmation only calendar month, then Landlord, at its option, may extend the Term by the number of days necessary to cause the Expiration Date to occur on the last day of the information set forth therein, which last calendar month of the Term. Tenant shall execute pay Base Rent and return Additional Rent for such additional days at the same rate payable for the portion of the last calendar month immediately preceding such extension. The Commencement Date, Term (including any extension by Landlord pursuant to Landlord within ten (10this Section 3.1) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall Expiration Date may be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 a commencement letter (the “Base Rent Delivery DateCommencement Letter”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date prepared by Landlord and ending on the date Landlord so tenders possession of the Premises to executed by Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Net Lease (TopBuild Corp)
Lease Term. The terms and provisions of this Lease term shall be effective as of commence upon the date of this Lease. The term Substantial Completion of this Lease Landlord's Work (the “Lease Term”as said phrase is defined below) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 and delivery of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date ("Commencement Date") and end seven (7) calendar years thereafter ("Lease Term"), then Landlord shall not be subject unless terminated sooner pursuant to any liability for its failure to do so, and such failure shall not affect the validity other provisions of this Lease or unless extended pursuant to the obligations relevant Section of Tenant hereunderthe Agreement. For purposes The scheduled commencement date ("Scheduled Commencement Date") of this Leasethe Lease Term is November 15th, 1998. If the Landlord's Work is Substantially Completed before the Scheduled Commencement Date, the term “Lease Year” Term shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver commence upon Substantial Completion and Landlord's delivery to Tenant of possession thereof. Within five calendar days after the Commencement Date, the parties shall each execute and deliver a notice commencement date certificate ("Commencement Date Certificate") in the form attached as set forth EXHIBIT B to the Lease and forming a part hereof. The term "Lease Term" as used in Exhibit Cthis Agreement, attached heretoincludes any extension established in this section, as a confirmation only provided the right to perform such extension is exercised. Notwithstanding the above and provided Tenant is in compliance with all of the information set forth thereinits obligations under this Agreement, which Tenant shall execute and return have the right to Landlord within ten extend the Lease Term for two additional terms of seven (107) business days years each, by means of receipt thereof; provided, however, Tenant’s failure to execute and return such prior written notice to Landlord within such time shall be conclusive upon Tenant that with at least ninety (90) days in advance of the information set forth in such notice is as specified thereindate of termination of the initial or subsequent seven (7) year Lease Term. In addition to the foregoing, in the event one of the parties hereto makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is subject to any delays caused by Tenant bankruptcy proceedings, is adjudged bankrupt or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 insolvent (the “Base Rent Delivery Date”Suspension de Pagos), Tenant shall be entitled in proceedings filed against it, a receiver, trustee or custodian is appointed for all or substantially all of its assets, fails generally to pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any act of bankruptcy or insolvency, including the selling of its assets to pay creditors, the other party hereto may terminate the Lease Term and this Agreement by means of prior written notice without any liability to either party (except for obligations accrued in favor of one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on party prior to the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowtermination).
Appears in 1 contract
Samples: Lease Agreement (International Manufacturing Services Inc)
Lease Term. The (a) Subject to and upon the terms and provisions conditions set forth in the Lease, or in any exhibit attached hereto, the primary term of this Lease shall commence on the earlier of (i) the Completion Date or (ii) the date Tenant occupies all or part of the Leased Premises, (such earlier date being the “Commencement Date”) and shall expire on the last day of the eighty-sixth (86th) full month after the Commencement Date or such earlier date as this Lease may terminate as provided herein; provided, however, the term of this Lease shall not commence prior to the one hundred twenty-second (122nd) day following the Effective Date (the “Estimated Completion Date”) unless Tenant occupies all or a part of the Leased Premises prior thereto. The “Lease Term” of this Lease shall be effective the primary term specified in this Section 2.01, as renewed or otherwise extended or earlier terminated pursuant to the terms and provisions set forth herein.
(b) As used herein, “Completion Date” means the date Tenant’s leasehold improvements are Substantially Completed (as defined below); provided, that, if Tenant occupies any part of the date of this Lease. The term of this Leased Premises before the Commencement Date, the Lease (the “Lease Term”) Term and Tenant’s obligation to pay Rent shall commence on the “Lease date Tenant occupies the Leased Premises and such date shall be deemed to be the Commencement Date,” . Except as that term provided in subsection (c) below, Tenant is set forth in Section 3.2 deemed to occupy the Leased Premises when Tenant takes possession of any part of the SummaryLeased Premises for any purpose, including placing furniture and shall terminate on installing Tenant’s equipment (other than telephone equipment) in the “Leased Premises. If the Commencement Date is other than the first day of a calendar month, the Lease Expiration Date,” Term will be extended and will be calculated as that term is set forth in Section 3.3 if the Commencement Date were the first day of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that next full calendar month and the Premises are currently occupied by another tenant of Rent hereunder will be prorated for the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfirst partial month.
Appears in 1 contract
Samples: Lease Agreement (Sigmatel Inc)
Lease Term. (a) The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease (the “Initial Term” and, as the same may be extended, if at all, the “Lease Term”) shall commence with respect to the Lab Premises on July 1, 2018 (the “Lab Premises Commencement Date”), and shall commence with respect to the Office Premises on the “Lease Commencement Date,” earlier of (i) the date on which Tenant takes possession of any part of the Office Premises for purposes of conducting the Tenant’s business therein and (ii) the later of (x) the date on which Landlord delivers possession of the Office Premises to Tenant with Landlord’s Work (as that term is set forth in Section 3.2 Exhibit E) Substantially Completed and (y) July 1, 2018 (the “Commencement Date”) and, unless earlier terminated in accordance with the terms hereof, shall end on June 30, 2021 (the “Expiration Date”). Tenant agrees that in the event of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 inability of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Office Premises to Tenant on or before July 1, 2018 for any specific date reason, then Landlord shall not be subject liable for any damage resulting from such inability, but Tenant shall not be liable for any Rent for the Office Premises (but shall be liable for Rent for the Original Leased Premises as set forth in the last sentence of this Section 2.01(a)) until the time when Landlord can deliver possession of the Office Premises to any liability for its Tenant or when Landlord would have delivered possession of the Office Premises to Tenant absent a Tenant Delay. No such failure to do sogive possession on July 1, and such failure 2018 shall not affect the validity of this Lease or the other obligations of Tenant hereunderunder this Lease. If any delay in Landlord’s ability to Substantially Complete Landlord’s Work or to deliver possession of the Office Premises to Tenant is the result of a Tenant Delay, the Commencement Date and the payment of Rent under this Lease shall be accelerated by the number of days of such Tenant Delay. For purposes of this Leaseclarification, the term Short Term Lease of the Original Leased Premises expires on June 30, 2018, and on such date Tenant shall vacate and surrender the Original Leased Premises (other than the Lab Premises) (“Lease Year” shall mean each consecutive twelve (12Remaining Original Leased Premises”) month period during the Lease Term. At any time during the Lease Term, to Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of condition required by the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofShort Term Lease; provided, however, that, if the Commencement Date under this Lease occurs after July 1, 2018, the expiration date of Tenant’s failure to execute and return such notice to Landlord within such time lease of the Remaining Original Leased Premises under the Short Term Lease shall be conclusive upon Tenant that extended until the information set forth in such notice is as specified therein. In addition date immediately prior to the foregoingCommencement Date under this Lease on the same terms and conditions as provided in the Short Term Lease at a fixed daily rental rate of [***]; provided, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeurefurther, that if Landlord fails has delivered the Office Premises to tender Tenant with Landlord’s Work Substantially Completed (or Landlord would have delivered the Office Premises to Tenant with Landlord’s Work Substantially Completed absent a Tenant Delay) (“Office Premises Delivery Date”) and Tenant remains in possession of the Remaining Original Leased Premises, then Tenant shall pay a fixed daily rental rent of [***] (rather than [***]) for each such day that Tenant remains in possession of the Remaining Original Leased Premises to Tenant on or before January 2, 2015 beyond the date which is five (5) business days after the “Base Rent Office Premises Delivery Date”). Tenant acknowledges that the Commencement Date is July 1, 2018.
(b) Provided that (i) the Lease is in full force and effect; (ii) Tenant is in physical possession and actual occupancy of the entire Leased Premises and has not assigned this Lease or sublet or licensed any of its right, title, and interest in and to the Leased Premises or any portion thereof; and (iii) there shall not exist any default by Tenant under this Lease beyond any applicable notice and cure period, in each case, as of the date that Tenant delivers Tenant’s Interest Notice (as defined below) and as of the first day of the Extension Term, then Tenant shall be entitled to have one (1) day option to extend the then current Lease Term for the entire Leased Premises (but not less than the entire Leased Premises), for a period of per diem Base Rent abatement for each day one (1) year (the “Extension Term”) commencing immediately following the expiration of the Initial Term, on the day after same terms and conditions set forth in this Lease except that Tenant shall have no further right to extend the Base Rent Delivery Date Lease Term. If Tenant elects to exercise the extension option, Tenant shall provide Landlord with written notice of Tenant’s interest in extending the Lease for the Extension Term (“Tenant’s Interest Notice”) no later than one hundred twenty (120) days prior to the expiration of the Initial Term. In the event Tenant fails timely to provide Landlord with Tenant’s Interest Notice with respect to the extension option as required by this Section 2.01(b) or Tenant has no right to extend the Initial Term because Tenant has not satisfied the conditions set forth above in this Section 2.01(b), this Lease shall expire at the end of the Initial Term (i.e., there shall be no extension of the Initial Term) and ending Tenant shall have no further right to extend the Lease Term. In the event Tenant timely provides Landlord with Tenant’s Interest Notice the Lease shall automatically be extended for the Extension Term without the need for any further instrument or agreement and shall be on the date Landlord so tenders possession of same terms and conditions set forth in this Lease except that Tenant shall have no further right to extend the Premises Lease Term. This Extension Right is personal to Tenant. Any such Base Rent Abatement shall Viela Bio, Inc., a Delaware corporation, and may not be separate from and in addition assigned to any Rent Abatement described in Section 3.2 belowother person or entity.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be for approximately the number of months set forth in Section 3.1 of the Summary, shall commence on the date (the “Lease Commencement Date,” as that term ”) which is set forth the earlier to occur of (i) April 1, 2011, or (ii) the date Tenant commences business operations in Section 3.2 of the SummaryPremises, and shall terminate on the date (the “Lease Expiration Date,” as that term ”) which is set forth in Section 3.3 the last day of the Summarysixty-third (63rd) full calendar month following the Lease Commencement Date, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice notice, in substantially the form as set forth in Exhibit C, C attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten fifteen (1015) business days of receipt thereof; provided, however, that Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive proof upon Tenant that the information set forth in such notice is as specified therein. Landlord shall permit Tenant to access and enter the Premises upon the mutual execution of this Lease (the “Early Entry Date”), solely for purposes of installing the Tenant Improvements. In no event may Tenant conduct its business or operations from the Premises until the Lease Commencement Date. Such limited purpose entry and use of the Premises by Tenant shall be at Tenant’s sole risk and shall also be subject to all of the provisions of this Lease including, but not limited to, the requirement to obtain the insurance required pursuant to this Lease and to deliver insurance certificates as required herein, and to pay for all utilities consumed in the Premises on and after the Early Entry Date. Notwithstanding the immediately preceding sentence, Tenant shall not be required to pay Rent (other than any utilities costs incurred) prior to the Lease Commencement Date. In addition to the foregoing, subject Landlord shall have the right to impose such additional conditions on Tenant’s early entry as Landlord shall deem reasonably appropriate. If, at any delays caused by Tenant or any Tenant Parties and events time, there is an Event of Force Majeure, if Landlord fails to tender possession Default that results in termination of the Premises Lease, then any such waiver by Landlord of Tenant’s requirement to Tenant on or before January 2pay rental payments shall be null and void, 2015 (and as a component of Landlord’s recovery set forth in Article 19 of the “Base Rent Delivery Date”)Lease, Tenant shall be entitled immediately pay to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord all rental payments so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowwaived by Landlord.
Appears in 1 contract
Lease Term. The terms and provisions Lease Term is scheduled to expire on August 27, 2015. The Lease Term is hereby extended for a period of this Lease shall be effective nine (9) months, to expire on May 31, 2016 (“New Expiration Date”), subject to earlier termination as described in the Lease. Notwithstanding anything to the contrary contained in Section 34 of the date of this Lease. The term of this Original Lease (the “Lease Term”titled HOLDING OVER) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 or any other provision of the SummaryExisting Lease, and Tenant shall terminate on not have the “Lease Expiration Date,” as that term is set forth in Section 3.3 right to hold over after the expiration or earlier termination of the SummaryLease for any reason, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that without the Premises are currently occupied future express written consent given by another tenant of the BuildingLandlord, which consent may be withheld by Landlord in its sole and absolute discretion. If Landlord is unable for Tenant or anyone claiming through Tenant remains in possession of any reason to deliver possession portion of the Premises beyond the expiration or sooner termination of the Lease as to Tenant on any specific date such space, then or fails to surrender such space upon such expiration or earlier termination to Landlord shall not be subject to any liability for its failure to do soin the condition required by the Lease, and such hold over or failure shall not affect constitute a renewal or extension of the validity of this Lease or a month-to-month tenancy, but instead a tenancy at sufferance. If Tenant fails to vacate and surrender the obligations Premises to Landlord in the condition required by the Lease at the expiration or sooner termination of Tenant hereunder. For purposes of this the Lease, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all claims, demands, losses, liabilities, judgments, costs and expenses (including attorney’s fees) which Landlord may incur as a result of such hold over and failure to surrender, including without limitation all lost rents, lost profits and lost or delayed business opportunities (including without limitation those relating to any delay or prevention in Landlord’s ability to redevelop all or any portion of the project of which the Premises is a part), and Landlord shall be entitled to all other rights and remedies available to a landlord against a tenant wrongfully holding over after the termination of the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Termof a lease without Landlord’s consent. At any time during Tenant acknowledges and agrees that it has no further right to extend or renew the Lease Term, Landlord may deliver to Tenant a notice and that the Option described in the form as set forth in Exhibit C, attached hereto, as a confirmation only Section 37 of the information set forth therein, which Tenant shall execute Original Lease (titled OPTION TO EXTEND THE LEASE TERM) is hereby deleted and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinof no further force or effect. In addition All of Landlord’s rights and remedies under this Section 3 are cumulative and not alternative to the foregoingextent permitted by law, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and are in addition to any Rent Abatement described all other rights and remedies available in Section 3.2 belowlaw and in equity.
Appears in 1 contract
Samples: Lease Agreement (Xenoport Inc)
Lease Term. The terms (a) Tenant shall have and hold the Premises for the term ("Term") identified in the Basic Lease Provisions commencing on the date (the "Commencement Date") which is thirty (30) days after the date on which Landlord notifies Tenant that the Work in the Premises is substantially complete (or is deemed substantially complete pursuant to Paragraph 4(b) of Exhibit "B") and the Building Systems are in good working order as required by Section 19 of this Lease (the "Ready Date"), and shall terminate at midnight on the last day of the Term (the "Expiration Date"), unless sooner terminated or extended as hereinafter provided. Promptly following the Commencement Date, Landlord and Tenant shall enter into a letter agreement in the form attached hereto as Exhibit "C", specifying and/or confirming the Commencement Date and the Expiration Date (and the number of rentable square feet contained within the Premises and the amount of Base Rent payable hereunder, if such numbers as finally determined differ from those set forth in the Basic Lease Provisions).
(b) Landlord shall permit Tenant and Tenant's agents and contractors to enter the Premises on and after the Ready Date, in order to permit Tenant to prepare the Premises for Tenant's occupancy (such entry prior to the Commencement Date referred to herein as the "Early Entry Period". If Landlord permits such entry prior to completion of the Work, then such permission is conditioned upon Tenant and Tenant's agents, contractors, workmen, mechanics, suppliers, and invitees working in harmony and not interfering with Landlord and Landlord's contractors in doing the Work. If at any time such entry shall cause or threaten to cause such interference, Landlord shall have the right to withdraw such permission upon twenty-four (24) hours' oral or written notice to Tenant. Tenant agrees that any such entry into the Premises shall be deemed to be under all of the terms, covenants, conditions, and provisions of this Lease (including, without limitation, all insurance requirements), except as to the covenant to pay Rent hereunder, and further agrees that Landlord shall not be liable in any way for any injury, loss, or damage which may occur to any items of work constructed by Tenant or to other property of Tenant that may be placed in the Premises prior to completion of the Work, the same being at Tenant's sole risk, except and only to the extent caused by Landlord's own negligence or willful misconduct.
(i) Landlord grants to Tenant one option to extend the Term (the "Extension Option") for a period of five (5) years (the "Extension Period"). Tenant's privilege to exercise the Extension Option is expressly conditioned upon Tenant not being in default (following the expiration of all applicable notice and cure provisions) at the time the Extension Option is exercised and not being in default (following the expiration of all applicable notice and cure provisions) between the time the Extension Option is exercised and the start of the Extension Period.
(ii) Tenant shall have the right to exercise the Extension Option by giving written notice (the "Extension Notice") to Landlord no later than nine (9) months and no earlier than twelve (12) months prior to the Expiration Date of the Term. All terms and conditions of this Lease shall continue during the Extension Period, provided that during each Extension Period, the Base Rent shall be effective ninety-five percent (95%) of the Fair Market Rent as of the date of (the "Rent Determination Date") that is nine (9) months preceding the Expiration Date (such Base Rent for the Extension Period being deemed "Renewal Rent").
(iii) As used in this Lease, Fair Market Rent shall mean the effective rental rates then being obtained by tenants in the marketplace for comparable buildings and premises. The effective rental rates shall include consideration of the presence or absence of tenant improvements or allowances existing or to be provided under the lease for such premises, rental abatements, lease takeovers/assumptions, moving expenses and other forms of rental concessions, real estate brokerage commissions, proposed term of this Lease lease, extent of service provided or to be provided under the lease for such premises, the time the particular rate under consideration became or is to become effective and any other relevant terms or conditions.
(iv) In the “Lease Term”event of an exercise of an option by Tenant, Landlord shall notify Tenant of Landlord's determination of the Renewal Rent within thirty (30) shall commence days of the Rent Determination Date and if Landlord and Tenant cannot agree on the “Lease Commencement Date,” Renewal Rent within thirty (30) days thereafter, the Renewal Rent payable during the Extension Period shall be conclusively determined as that term is follows:
(A) Within ten (10) days after the expiration of the thirty (30) day period, each party, at its cost and by giving notice to the other party, shall appoint an unaffiliated MAI designated real estate appraiser with at least five (5) years' full-time commercial appraisal experience in the general vicinity of the Premises (an "Appraiser"), to appraise and determine the then Fair Market Rent as described in this Section.
(B) If one party does not appoint an Appraiser within the time period in Section 2(c)(iv)(A) above, the Appraiser appointed by the other party shall be the sole Appraiser and shall determine the Fair Market Rent.
(C) If neither party appoints an Appraiser within the time period set forth in Section 3.2 of 2(c)(iv)(A), the Summary, and Base Rent during the Extension Period shall terminate on be the “Lease Base Rent payable in the last full month immediately preceding the Expiration Date,” as that term is set forth .
(D) If the two (2) Appraisers are so appointed by the parties, they shall meet promptly and attempt to appraise and determine the Fair Market Rent. If they are unable to agree within thirty (30) days after the second Appraiser has been appointed, they shall attempt to select a third Appraiser who meets the qualifications stated in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (122(c)(iv)(A) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days after the last day the two Appraisers are given to determine the Fair Market Rent. If they are unable to agree on a third Appraiser, either of receipt thereof; providedthe parties to this Lease, by giving ten (10) days' notice to the other party, can apply to the President of the Alameda County Real Estate Board or the presiding judge of the Superior Court for Alameda County for the selection of a third Appraiser who meets the qualifications stated in Section 2(c)(iv)(A). Each of the parties shall bear one-half (1/2) of the cost of appointing the third Appraiser and of the third Appraiser's fees. The third Appraiser, however selected, shall be a person who has not previously acted in any capacity for either party or is not or has not been affiliated with the other appointed Appraisers.
(E) Within thirty (30) days after the selection of the third Appraiser, a majority of the Appraisers shall appraise and determine the Fair Market Rent. If a majority of the Appraisers are unable to so set the Fair Market Rent within the required period of time, the appraisals of the three Appraisers shall be added together and their total divided by three. The resulting quotient shall be the Fair Market Rent.
(F) If, however, Tenant’s failure to execute and return such notice to Landlord within such time the low appraisal or the high appraisal are more than ten percent (10%) lower or higher than the middle appraisal, the low appraisal or the high appraisal shall be conclusive upon Tenant disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total divided by two. The resulting quotient shall be the Fair Market Rent. If two appraisals are disregarded, the remaining appraisal shall be the Fair Market Rent.
(d) Except in connection with an assignment which is to an Altigen Affiliate (as that term is hereinafter defined), the information set forth in such notice Extension Option is as specified thereinnot assignable by Tenant, and any attempted assignment shall be void. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force MajeureAdditionally, if Landlord fails to tender possession subleases (excluding Permitted Transfers) covering more than twenty-five percent (25%) of the Premises to Tenant on or before January 2exist at the time of exercise of the Extension Option, 2015 (the “Base Rent Delivery Date”), Tenant such exercise shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date no force and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 beloweffect.
Appears in 1 contract
Samples: Industrial Lease Agreement (Altigen Communications Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on as a result of an existing tenant holding over in all or any specific date portion of the Premises, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder, so long as Landlord, at its expense, is promptly and diligently taking all actions reasonably necessary to cause such existing tenant to vacate such portion of the Premises, including any required legal proceeding, to secure possession of the Premises prior to “Outside Delivery Date,” as defined below, if possible, or if not possible by such date, as soon thereafter as possible. Notwithstanding the foregoing, if and to the extent that Landlord fails to deliver possession of the Premises to Tenant on or before September 1, 2017 (the “Outside Delivery Date”) for any reason, then the date set forth in Section 3.2 of the Summary (i.e., March 1, 2018) shall be delayed on a day-for-day basis for each day beyond the Outside Delivery Date that Landlord fails to so deliver the Premises to Tenant. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, . Tenant’s failure to execute and return such notice to Landlord (or to deliver to Landlord in good faith, corrective comments with respect to such notice) within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Office Lease (Airbnb, Inc.)
Lease Term. The (a) Subject to and upon the terms and provisions of conditions set forth in this Lease, this Lease shall be effective as of continue in force for the date of this Lease. The term of this Lease (the “Lease Term”. Notwithstanding the Commencement Date provided in Paragraph l(e) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, Tenant's obligation for the term “Lease Year” shall mean each consecutive twelve (12) month period during payment of rent and the Lease Term. At any time during the Lease Term, Term shall not commence until Landlord may deliver has substantially completed all work to Tenant a notice in the form be performed by Landlord as set forth in Exhibit C, the Work Letter Agreement attached hereto, hereto as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofEXHIBIT "D"; provided, however, that if Landlord shall be delayed in substantially completing said work as a result of any of the following (a "DELAY"):
(i) Tenant’s 's failure to execute furnish information in accordance herewith or to respond to any request by Landlord for any approval or information within any time period prescribed, or if no time period is prescribed, then within three Business Days of such request; or
(ii) Tenant's insistence on materials, finishes or installations other than Landlord's Building Standard after having first been informed by Landlord in writing at or before the time of delivery to Tenant of final construction pricing for Tenant's approval that such materials, finishes or installations will cause a Delay; or
(iii) Tenant's changes in any plans and return specifications; or
(iv) The performance by a person, firm or corporation employed by Tenant in the completion of any work by said person, firm or corporation (all such notice work and such persons, firms or corporations being subject to Landlord within such time shall be conclusive upon the approval of Landlord); or
(v) Any request by Tenant that Landlord delay the information set forth in such notice is as specified therein. In addition to the foregoing, subject to completion of any delays caused of Landlord's work; or
(vi) Any breach or default by Tenant or any Tenant Parties and events in the performance of Force Majeure, if Landlord fails to tender Tenant's obligations under this Lease; or
(vii) Any delay resulting from Tenant's having taken possession of the Premises prior to Tenant on or before January 2its being substantially completed, 2015 as defined below; or
(the “Base Rent Delivery Date”), Tenant shall be entitled to one (1viii) day Any reasonably necessary displacement of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession any of Landlord's work from its place in Landlord's construction schedule resulting from any of the Premises causes for Delay; or
(ix) Any other delay chargeable to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below., its agents, employees or independent contractors;
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 : September 1, 1996 or Substantial Completion of the SummaryPremises, whichever occurs later. Landlord and Tenant shall terminate mutually agree upon a schedule (the "Lease and Construction Schedule") which details the dates on which all necessary lease and construction documents will be completed so as to permit Landlord to substantially complete the “Premises for Tenant's occupancy by the Lease Expiration Commencement Date,” . The Lease and Construction Schedule is attached to the lease as that term is set forth in Section 3.3 Exhibit F. Landlord shall make a good faith effort to make approximately 6,000 to 8,000 rentable square feet of the SummaryPremises (the "Early Occupancy Space") available for Tenant's occupancy by August 15, unless this Lease is sooner terminated as hereinafter provided1996. Tenant hereby acknowledges that the Premises are currently The Early Occupancy Space may be occupied by another tenant Tenant with a temporary occupancy permit (to the extent such occupancy is allowed by the local jurisdiction) and such occupancy will not be considered a tender of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord for purposes of establishing the Lease Commencement Date. Any such early occupancy shall not be subject to any liability for its failure to do soall of the terms, covenants and such failure shall not affect the validity conditions of this Lease or except for the obligations payment of Tenant hereunderRent and additional rent. For purposes of this Lease, In no event shall the term “Lease Year” shall mean each consecutive twelve lease commence until the Leasehold Improvements (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth defined in Exhibit C), attached heretowith the exception of minor punch list items and Tenant approved long lead items, are substantially completed in accordance with Tenant's Plan (as defined in Exhibit C), and Landlord has obtained a confirmation only certificate occupancy or certificate of temporary occupancy. Landlord shall give Tenant thirty (30) days prior written notice of the information approximate date of substantial completion. Lease Expiration Date: Eighty - Four (84) months after Lease Commencement Date. In the event the Lease Commencement Date is a date other than the first day of a calendar month, the Lease Term shall run for the number of months set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that above from the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession first day of the Premises to Tenant on or before January 2, 2015 (calendar month following the “Base Rent Delivery Lease Commencement Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Lease (Ace Comm Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January February 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) June 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Samples: Lease (CytomX Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this the Lease (the “Lease Term”) shall commence on the “earlier of (a) the Lease Commencement Date,” as that term is Date set forth in Section 3.2 Paragraph 1 (g), as may be extended as hereinafter set forth, or (b) the date on which Tenant occupies the Premises. The Lease shall continue until the expiration of a period equal of the Summary, and shall terminate Lease Duration after the end of the month in which the Lease Term commences (except that if the Lease Term commences on the “first day of a month, the Lease Expiration Date,” as that term is set forth in Section 3.3 Term shall end after the expiration of a period equal to the Lease Duration after such commencement). The fractional month, if any, between the commencement of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that Term and the Premises are currently occupied by another tenant end of the Buildingmonth in which the Lease Term begins is called the "Fractional Month". If Landlord is unable for any reason to deliver possession of the Premises to the Tenant on any specific date by the Lease Commencement Date because of the retention of possession thereof by a prior occupant, then or the inability of Landlord to complete the preparation of the Premises for the Tenant, this Lease shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; providedterminate, however, Tenant’s failure to execute and return such notice to Landlord within such time the Lease Commencement Date shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition extended to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if date on which Landlord fails to tender delivers possession of the Premises to the Tenant. For each day's delay in the delivery of possession to Tenant, Landlord shall give Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled two day's credit against rental payments. If Landlord fails to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders deliver possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.the Tenant within THIRTY (30) DAYS following the Lease Commencement Date, the Tenant may immediately terminate this Lease
Appears in 1 contract
Lease Term. The terms (Section 2): Ten (10) years, scheduled to commence on September 1, 2004, and provisions expiring on August 31, 2014 (“Expiration Date”). Notwithstanding the Expiration Date set forth hereinabove, Tenant shall have the personal non-assignable option right (“Lease Termination Option”) to terminate the Lease to be effective on February 29, 2012 (“Lease Termination Date”) by giving Landlord prior written notice (“Lease Termination Notice”) received by Landlord on or before September 1, 2011 (“Lease Termination Notice Expiration Date”), such Lease Termination Option being conditioned upon the following:
a) that Tenant shall be in good standing and not in monetary or material non-monetary breach or default of the Lease beyond applicable notice and cure periods at the time the Lease Termination Notice is given or at the Lease Termination Date;
b) that Tenant shall pay Landlord a termination fee (“Lease Termination Fee”) equal to the remaining unamortized portion of Landlord’s Construction Costs and remaining unamortized portion of Leasing Commissions paid (as defined in the Work Agreement attached to this Lease shall be effective as Exhibit “C” and made a part hereof) pertaining to the Premises, as calculated hereinbelow, all due and payable within thirty (30) days of the date of this Leasethe Lease Termination Notice; and
c) that, inasmuch as such Lease Termination Option is personal to the original Tenant hereunder, Tenant has not subleased the Premises (or any portion thereof) or assigned or transferred any interest in the Lease or in the Premises, or entered into any agreement to do the same, at any time prior to such attempted exercise or thereafter until such Lease Termination Date. The Lease Termination Fee shall be an amount computed by taking the remaining unamortized portion (that is, the portion not amortized over the period of the Lease term from the Commencement Date through the Lease Termination Date), as of this the Lease Termination Date, of Landlord’s Construction Costs and Leasing Commissions based on equal monthly installments in an amount sufficient to amortize such amounts, together with interest at eight percent (8%) per annum, over one hundred twenty (120) months. Once Landlord has determined the “amount of Landlord’s Construction Costs incurred pursuant to the Work Agreement, a written summary will be provided to Tenant for its Lease Term”file. By way of example, if the total sum of Landlord’s Construction Costs and Leasing Commissions is $425,000.00 and the Lease is terminated at the expiration of the ninetieth (90th) month of the term, then the amount payable by Tenant based on a one hundred twenty (120) month amortization at eight percent (8%) interest (K=0.01214) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.be:
Appears in 1 contract