Common use of Lease Term Clause in Contracts

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

Sources: Office Lease (ViewRay, Inc.), Office Lease (ViewRay, Inc.), Office Lease (ViewRay, 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 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

Sources: 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”) 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

Sources: Triple Net Lease (GOOD TECHNOLOGY Corp), Triple Net Lease (GOOD TECHNOLOGY Corp), Triple Net Lease (GOOD TECHNOLOGY 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

Sources: 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 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

Sources: 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”) 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

Sources: Lease (Biotech Acquisition Co), Sublease (Twist Bioscience Corp), Sublease (Twist Bioscience Corp)

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

Sources: Lease (Basic Us Reit Inc), Lease (Basic Us Reit 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 ▇▇▇▇▇") 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

Sources: 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 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 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 commence on the Lease Commencement Date and end on the day immediately preceding the first (1st) anniversary of the Lease Commencement Date), 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 (10) business days of receipt thereof; provided, howeverprovided that if such notice is not factually correct, Tenant’s failure then Tenant shall make such changes as are necessary to execute make such notice factually correct and shall thereafter 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 said ten (the “Base Rent Delivery Date”), Tenant shall be entitled to one (110) 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 belowperiod.

Appears in 2 contracts

Sources: Lease Agreement (BioAtla, Inc.), Lease (BioAtla, Inc.)

Lease Term. The terms This Lease, and each supplement to this Lease, shall be for a term which commences on the date of execution of such Lease or supplement, as applicable, and ending as of the date on which all Outstanding Related Amount of Bonds have been paid or otherwise are deemed paid pursuant to Article VIII of the Indenture, subject, however, to the rights of the Board under Section 4.09(b) of the Lease to pay the Purchase Option Price with respect to any Project and thereby terminate the Lease as to such Project and subject further to the provisions of Section 4.09(a) of the Lease pursuant to which the term of this Lease and all supplements thereto shall be terminated and this Lease and all supplements shall be canceled in any year for which Appropriated Payments are not sufficient, together with any available Program Revenues, to pay the Lease Rentals as provided in Section 4.07; provided that if for any reason it is hereafter determined that any agency or instrumentality of the State of South Dakota is not authorized to execute, as lessee, this Lease and any supplement thereto with the Issuer, as lessor, for the term of years herein or therein provided, and subject to termination and cancellation as hereinabove provided, then the foregoing provision in this Section 4.11 of this Lease shall be effective as of no further force and effect and in lieu thereof this Lease and any supplement thereto shall be and become a lease for one (1) year ending June 30 of the year following the most recent payment under the Lease, with options to renew the Lease for successive renewal terms commencing July 1 of each year and ending June 30 in the next ensuing year, beginning July 1 of the year in which the rental appropriation is made by the Legislature and the final renewal term for the last year ending August 1 listed on Exhibit D hereto, which is the agreed date by which the Board will have paid the amount required to retire at their final maturity date all of this Leasethe Bonds issued by Issuer to pay the cost of providing for the Facilities referred to herein. The term In such event, for each of this any such renewal terms the Board shall become obligated to pay and hereby agrees to pay out of the Appropriated Payments and other amounts legally available to the Board for such purpose to the Issuer a cash Lease (the “Lease Term”) shall commence Rental for each year payable on the “Lease Commencement Date,” as that term is dates which are set forth for each year in Section 3.2 Exhibit D hereto. Each of the Summary, and shall terminate on successive options to renew herein granted may be exercised for the “Lease Expiration Date,” as that successive renewal term is set forth in Section 3.3 at any time after the adjournment of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant Legislature of the Building. If Landlord is unable State at which any necessary appropriations shall have been made 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 thereofsuccessive renewal term; provided, however, Tenant’s failure to execute such options shall in each instance be deemed automatically exercised 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 Lease automatically renewed for 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 successive renewal term commencing on the first day after thereof if any necessary appropriation has been made by the Base Rent Delivery Date and ending on the date Landlord so tenders possession Legislature of the Premises to Tenant. Any State of South Dakota for the payment of the Lease Rentals thereof and such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowappropriation has been approved by the Governor.

Appears in 2 contracts

Sources: Lease Purchase Agreement, Lease Purchase 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

Sources: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, 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

Sources: 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 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

Sources: Consent to Sublease Agreement (Bolt Biotherapeutics, Inc.), Sublease Agreement (Bolt Biotherapeutics, Inc.)

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

Sources: Lease Agreement (Organovo Holdings, Inc.), Lease (Organovo 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

Sources: Lease (RAPT Therapeutics, Inc.), Lease (RAPT 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 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

Sources: Sublease (Pulmonx Corp), Sublease (Pulmonx Corp)

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

Sources: 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, 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

Sources: Lease (Sorrento Therapeutics, Inc.), Lease Agreement (Sorrento Therapeutics, 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

Sources: Lease Agreement, Lease Agreement

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

Sources: Lease Agreement (Spero Therapeutics, Inc.), Lease Agreement (Spero Therapeutics, 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

Sources: 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 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

Sources: Lease Agreement, Lease Agreement (Tableau Software 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

Sources: Lease Agreement, Lease 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 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 ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, 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

Sources: 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 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 ▇▇▇▇▇▇ 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

Sources: Office Lease (ServiceTitan, Inc.), Office Lease (ServiceTitan, 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

Sources: 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, 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

Sources: Consent to Sublease (Arlo Technologies, Inc.), Office Lease (Arlo Technologies, Inc.)

Lease Term. The terms and provisions of this initial Lease Term shall be effective begin as of the date of Lease Commencement Date and shall continue until fifteen (15) years after the Lease Commencement Date unless sooner terminated or renewed as provided in this Lease. The term Landlord and Tenant shall execute a written acknowledgment of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” Date and the termination date in substantially the form attached hereto as that term is set forth in Section 3.2 of the SummaryExhibit “C”; however, 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, execute and deliver such failure acknowledgment shall not affect the validity of this Lease or the obligations of Tenant Tenant’s liability hereunder. For purposes Provided that no Default has occurred and is continuing at the time Tenant elects to extend the Lease Term, Tenant, at its sole option, may extend the Lease Term for two (2) additional periods of ten (10) years each (individually, an “Extension Period”), subject to all the provisions of this Lease, except, however the term “Lease Year” Rent (as defined in Paragraph 5 below) shall mean be adjusted at the commencement of each consecutive twelve Extension Period to an amount equal to the then current fair market rental rate as agreed to by Landlord and Tenant, but in no event shall the Rent be less than the Rent payable on the date immediately preceding the commencement of such Extension Period, plus an escalation of three percent (123%) month period during as provided in Paragraph 5.1.4 below. If after thirty (30) days following delivery of the Lease Termwritten extension notice described in Paragraph 4.2 below, Landlord and Tenant are unable to agree upon the fair market rental value of the Premises, Tenant shall obtain at its expense and deliver to Landlord an independent appraisal of the fair market rental value of the Premises as of the commencement of the Extension Period. At any time during the Lease TermWithin thirty (30) days of its receipt of Tenant’s appraisal, Landlord may elect to obtain at its expense and deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only second independent appraisal of the information set forth thereinfair market rental value of the Premises as of the commencement of the Extension Period. If Landlord elects not to obtain and deliver to Tenant a second appraisal within the required time period, which Tenant shall execute and return to Landlord within ten or if Landlord’s appraisal is no more than five percent (105%) business days of receipt thereof; provided, howevergreater than Tenant’s appraisal, Tenant’s failure to execute and return such notice to Landlord within such time appraisal shall be conclusive upon Tenant that conclusive. If Landlord’s appraisal is more than five percent (5%) greater than Tenant’s appraisal, the information set forth in such notice is as specified therein. In addition two appraisers shall appoint a third appraiser to appraise the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession fair market rental value of the Premises to Tenant on or before January 2as of the commencement of the Extension Period, 2015 (and 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 fair market rental value of the Premises to Tenant. Any such Base Rent Abatement shall be separate from the arithmetical average of the two appraisals closest in their determination of fair market rental value. Landlord and Tenant shall bear equally the expense of the third appraiser. The Monthly Rent as so determined for each Extension Period shall be increased annually by three percent (3%) as provided in addition to any Rent Abatement described in Section 3.2 below.Paragraph 5.1.4

Appears in 2 contracts

Sources: Single Tenant Absolute Net Lease (Guilford Pharmaceuticals Inc), Single Tenant Absolute Net Lease (Guilford Pharmaceuticals 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

Sources: 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 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

Sources: 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 (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

Sources: Lease (Synthorx, Inc.), Lease (Synthorx, 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

Sources: Lease (Pliant Therapeutics, Inc.), 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 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

Sources: Lease Agreement (Blue Apron Holdings, Inc.), Lease Agreement (Blue Apron Holdings, 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

Sources: 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 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

Sources: Lease (Annexon, Inc.), Lease (Annexon, 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

Sources: Net Lease Agreement (Sparta Pharmaceuticals Inc)

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 Agreement or unless extended pursuant to this Section 1.02. The scheduled commencement date ("Scheduled Commencement Date") of the Lease or Term is MARCH 15, 1997. If the obligations of Tenant hereunder. For purposes of this LeaseLandlord'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" of this Agreement. The term "Lease Term" as used in Exhibit Cthis Agreement, attached heretoincludes any extension as defined in this Section 1.02, as a confirmation only provided the right to perform such extension is exercised. shall include such five (5) year extension and all of the information set forth therein, which Tenant provisions of this Agreement shall execute continue to be in full force and return to Landlord within ten (10) business days effect until the conclusion 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 thereinextended 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 insolvent in proceedings filed against it, a receiver, trustee or custodian is appointed for all or substantially all of Force Majeureits assets, if Landlord fails to tender possession 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 Premises selling of its assets to Tenant on or before January 2pay creditors, 2015 the other party hereto may terminate the Lease Term and this Agreement by means of prior written notice without any liability to either party (the “Base Rent Delivery Date”), Tenant shall be entitled except for obligations accrued in favor of one party prior 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 belowtermination).

Appears in 1 contract

Sources: Lease Agreement (Smartflex 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 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

Sources: Office Lease (GoodRx Holdings, Inc.)

Lease Term. The terms and provisions of this This Lease shall be effective as continue in force during a period beginning on the 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 In the Premises are currently occupied by another tenant of event the Building. If Landlord actual Commencement Date is unable for any reason to deliver possession of other than the Premises to Tenant on any specific date identified in Section 1(d), then Landlord rental under this Lease shall not be subject to any liability for its failure to do socommence until said revised Commencement Date, and such failure the Lease Term shall not affect commence and the validity of this Lease or expiration date shall be extended so as to give effect to the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the full stated Lease Term. At any time during Should the Lease TermTerm commence on a date other than that specified in Section 1(d), Landlord may deliver to will send Tenant a notice in the form as set forth in Exhibit Cwritten statement of such adjusted Commencement Date and expiration date, 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 Majeureand, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)requests, Tenant shall be entitled to one will confirm such adjusted dates in writing. IN THE EVENT THE PREMISES IS NOT READY FOR TENANT'S OCCUPANCY BY JULY 31, 1999, UNLESS DUE TO (1i) 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 belowFORCE MAJEURE DELAYS DESCRIBED IN SECT▇▇▇ ▇▇ ▇▇▇▇▇, (▇▇) ▇▇▇AYS IN OBTAINING PERMITS FROM ANY APPLICABLE GOVERNMENTAL AUTHORITIES, (iii) DELAYS CAUSED BY TENANT, OR (iv) DELAYS IN DELIVERY OF SPECIFIC MATERIALS REQUIRED BY TENANT'S PLANS AND SPECIFICATIONS FOR THE PREMISES, THEN TENANT SHALL BE ENTITLED TO ONE DAY OF FREE RENT HEREUNDER FOR EACH DAY OF DELAY BEYOND JULY 31, 1999 UNTIL SUCH TIME AS THE PREMISES ARE READY FOR TENANT'S OCCUPANCY.

Appears in 1 contract

Sources: Assembly/Light Manufacturing/Office Lease (Triton Network Systems Inc)

Lease Term. The terms and provisions Term of this Lease shall be effective for the period designated in Subparagraph 1(g) commencing on the Rent Commencement Date, and ending on the Expiration Date, unless the term hereby demised shall be sooner terminated as herein provided (the "Term"). Notwithstanding the foregoing, if the Rent Commencement Date falls on any day other than the first day of a calendar month then the Basic Rent and NNN Charges shall be prorated based on the number of days for the applicable month using the Basic Rent and NNN Charges for the first month of the date of this Lease. The term Term as set forth herein, and the Term of this Lease (shall be measured from the “Lease Term”) first day of the month following the month in which the Rent Commencement Date occurs. Landlord and Tenant shall commence on promptly execute Exhibit D to confirm the “Lease Commencement Date,” as , the Delivery Date, the Rent Commencement Date and the Expiration Date and other matters. Notwithstanding the fact that term is the Rent Commencement Date has yet to occur, Landlord agrees to permit Tenant to enter the Premises during the construction of the same (a) for the Wynright Access pursuant to Paragraph 6 of the Work Letter and (b) upon the Delivery Date in order for Tenant to commence the installation of its equipment, trade fixtures and personal property and commence the operation of its business. Such entry shall be subject to all of the conditions set forth in Section 3.2 of this paragraph below. Such early entry is conditioned upon Tenant and its contractors, employees, agents and invitees (collectively, "Tenant Construction Parties") working in harmony and not materially interfering with Landlord and its contractors. In the Summaryevent Landlord provides Tenant with notice (written or verbal) that Tenant Construction Parties are materially interfering with Landlord and its contractors, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 Tenant fails to cease such material interference within two (2) days following receipt of the Summary, unless this Lease is sooner terminated as hereinafter provided. such notice from Landlord (such two (2) days of interference being deemed a Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable Delay 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 all 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, then Landlord may deliver terminate such early entry. Tenant agrees that any such early entry is subject to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only all of the information set forth thereinterms and conditions of this Lease, except for those relating to the payment of Basic Rent, NNN Charges and any additional rent and other recurring monetary obligations which have a specific commencement time, which Tenant shall execute and return to Landlord within ten (10) business days provisions will become applicable in accordance with the terms of receipt thereofthis Lease; provided, however, Tenant’s failure to execute Tenant shall pay for utilities 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 janitorial/trash services provided to the foregoing, subject to any delays caused by Tenant or any Tenant Parties Premises from and events of Force Majeure, if Landlord fails to tender possession of after 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

Sources: Standard Industrial Lease (Deckers Outdoor Corp)

Lease Term. The terms initial term of this Lease with respect to the Property (the “Initial Term”) shall begin upon the Commencement Date and provisions shall end six years and eleven months after the Closing Date (the “Initial Term Expiration Date”), unless the Initial Term is earlier terminated. The obligations of the parties under this Lease shall not commence until the Commencement Date. In no event shall the Initial Term exceed six (6) years and eleven (11) months. To the extent no Lease Default or Lease Event of Default has occurred and is continuing as of the Initial 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 Initial 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 renew this Lease (and thereby 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 five years after the then current Expiration Date or (b) Lessor, any Lender or the “Lease Agent shall refuse (or be deemed 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 Initial 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

Sources: Lease Agreement (United Therapeutics Corp)

Lease Term. The A. Tenant hereby takes the Premises from Landlord, upon and subject to the covenants, terms and provisions of this Lease shall be effective as of conditions hereinafter set forth, for the date term (herein, "term of this Lease. The term of this Lease (the “" or "Lease Term") shall commence commencing on the “Lease April 15, 2000 ("Commencement Date,” ") and continuing through and including April 30, 2007 ("Expiration Date"). Except as that term is set forth in Section 3.2 of the Summarythis section, 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 if Landlord is unable for any reason to whatsoever (except Tenant's default) cannot deliver possession of the Premises to the Tenant on any specific date the Commencement Date, then Landlord this Lease shall not be subject to void or voidable, nor shall Landlord be liable for any liability for its failure to do so, and such failure shall not affect the validity of this Lease loss 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; provideddamage resulting therefrom, however, Tenant’s failure to execute and return such notice to Landlord within such time (i) all Rent shall be conclusive upon Tenant that abated until Landlord delivers possession of the information set forth in such notice is as specified therein. In addition Premises to Tenant, and (ii) the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Commencement Date shall be the actual date Landlord fails to tender delivers possession of the Premises to Tenant and the Expiration Date shall be the last day of the 84th full calendar month thereafter. Landlord agrees to provide Tenant early occupancy of the Premises on March 1, 2000, under the same terms and conditions set forth herein, exclusive of payment of Base Rent and Operating Expenses. Notwithstanding the above, in the event that Landlord has not provided early occupancy of the Premises to Tenant in the condition required herein on or before January 2March 15, 2015 2000, and said delay was not contributed to by Tenant, then Landlord shall provide Tenant one-half (the “1/2) day of free Base Rent Delivery Date”)for each day the Premises has not been delivered after March 15, 2000, until April 1, 2000. In the event that Landlord has not provided early occupancy of the Premises to Tenant in the condition required herein on or before April 1, 2000, and said delay was not contributed to by Tenant, then Landlord shall be entitled to provide Tenant one (1) day of per diem free Base Rent abatement for each day commencing the Premises has not been delivered after April 30, 2000, until such date that Landlord delivers the Premises. In the event that Landlord has not delivered the Premises to Tenant in the condition required herein on or before May 1, 2000, and said delay was not contributed to by Tenant, then Tenant shall have the day after the Base Rent Delivery Date option to terminate this Lease with no further obligation upon delivery of written notice delivered to Landlord no later than May 5, 2000 and ending on the date before Landlord so tenders possession of delivers the Premises to Tenant. Any such . B. Tenant shall have the option to extend the term of this Lease for one (1) additional sixty (60) month term under the same terms and conditions contained herein, provided however, that the Base Rent Abatement shall be separate from and in addition to any Rent Abatement described adjusted as set forth in Section 3.2 below1.C. of this Lease. Tenant may exercise its option term by delivering written notice to Landlord, stating its irrevocable intent to exercise the option term, not less than 270 days prior to the expiration of the Lease Term. In the event that Tenant fails to deliver timely notice of its intent to exercise the option term, Tenant's right to the option term shall be deemed null and void. It shall be a condition of the exercise of the option term that Tenant not be in Default pursuant to Section 18 of this Lease.

Appears in 1 contract

Sources: Lease Agreement (Quantech LTD /Mn/)

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

Sources: Office Lease (Wh Holdings Cayman Islands LTD)

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 a period of five (5) years (“Lease Term”) and shall commence (the “Commencement Date”) on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 Article 1.1(b) of the Summary, Basic Lease Provisions and shall terminate end on the “Lease Expiration Date,” as that term is expiration date set forth in Section 3.3 Article 1.1(c) of the SummaryBasic Lease Provisions. Notwithstanding the foregoing, unless Tenant shall have the right to occupy the Premises for a period of thirty (30) days prior to the Commencement Date (“Early Occupancy Period”) commencing upon the date set forth in Article 1.1 (a) of the Basic Lease Provisions (“Early Occupancy Date”). Tenant’s occupancy of the Premises during the Early Occupancy Period shall be without payment of Basic Rental and Tenant’s Proportionate Share of Direct Costs, but otherwise subject to all of the terms and conditions of this Lease is sooner terminated as hereinafter providedLease. Tenant hereby acknowledges that the Premises are Tenant is currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver in possession and occupancy of the Premises pursuant to that certain Sublease (“Original Sublease”), dated August 30, 1996, entered into by and between Tenant, as subtenant, and NCR International, Inc., as sublandlord, as amended by that certain First Amendment to Sublease (“First Amendment”), dated January 23, 1997, and as further amended by that certain Second Amendment to Sublease (“Second Amendment”), dated May 28, 1997 (the Original Sublease, First Amendment and Second Amendment shall hereinafter collectively be referred to as the “Sublease”). Tenant shall continue in possession and occupancy of the Premises upon termination of the Sublease and hereby acknowledges that the Premises shall be accepted by Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, the Early Occupancy Date in “as-is” condition “with all faults,” and such failure shall not affect the validity of this Lease “without representation or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Yearwarranties.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, “D” 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

Sources: Office Lease (En Pointe Technologies Inc)

Lease Term. (a) The terms and provisions initial term (“Initial Term”) of this Lease shall be effective as for one (1) year commencing on January 1, 2016 (“Commencement Date”), and ending on December 31, 2016, unless sooner terminated according to this Lease. (b) Upon expiration of the date Initial Term, unless notice of this Lease. The term termination is given thirty (30) days prior to expiration of the Initial Term, this Lease shall automatically renew for a successive one (1) year term, under the same terms and conditions with the exception that the rental rate shall increase by three percent (3%) from the initial rental rate. This Lease Term”shall automatically renew each year thereafter, unless notice of termination is given thirty (30) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 days prior to expiration of the Summaryrenewed lease term, under the same terms and shall terminate on conditions with 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 exception that the Premises are currently occupied rental rate shall increase by another tenant of three percent (3%) from the Building. prior years’ rental rate. (c) If Landlord is unable for any reason fails to deliver possession of the Leased Premises to Tenant on any specific date by the Commencement Date, then Landlord shall not be subject to liable for any liability for its damages resulting from that failure, nor shall that failure to do so, and such failure shall not affect the validity cause a termination of this Lease or Tenant’s obligations under this Lease, except as otherwise permitted under this Section, nor shall that failure extend the obligations of Tenant hereunder. For purposes term of this Lease, . If Landlord has not delivered possession of 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 Leased Premises to Tenant a within sixty days after the Commencement Date, Tenant may, however, cancel this Lease, by written 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 end of receipt thereofthe sixty day period; in that case, the parties shall be discharged from all obligations under this Lease, provided, however, Tenant’s failure to execute and return such that if the written notice to of Tenant is not received by 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) day period, Tenant shall be entitled have no further right to one terminate this Lease. (1d) day of per diem Base Rent abatement Either party may terminate this Lease at any time, for each day commencing on any reason, upon thirty (30) days’ written notice in accord with the day after notice provisions herein to 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 belowother party.

Appears in 1 contract

Sources: Industrial Lease

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,” . The Term shall continue for the period designated as that term is set forth the Lease Term in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” Article 1 hereof. Except 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 Leaseprovided below, the term “Lease Year,whenever used herein, shall mean each a period of twelve (12) consecutive full calendar months. The first Lease Year shall commence on the Commencement Date. If the Commencement Date is other than the first day of a calendar month, the first Lease Year shall consist of the remaining part of such month, and the next consecutive twelve (12) month period during the calendar months. Each succeeding 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 Year 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 commence on the day after the Base Rent Delivery Date conclusion of the previous Lease Year. The parties hereto acknowledge that certain obligations under various Articles hereof may commence prior to the Lease Term (i.e. construction, hold harmless, liability insurance, etc.), and ending on the date Landlord so tenders parties agree to be bound by these Articles prior to commencement of the Lease Term. Pursuant to Section 1.06 and as modified by the Addendum signed simultaneously with this agreement Tenant shall have two (2) options to renew for a term of five (5) years each. Tenant shall not have the right to holdover possession of the Premises after the expiration or termination of this Lease without Landlord’s prior written consent, which consent may be withhold in Landlord’s sole and absolute discretion. If Tenant retains possession of any part of the Premises after the expiration or termination of this Lease without Landlord’s prior written consent, Tenant shall become a month-to-month tenant (for the part of the Premises then leased by Tenant) in accordance with all of the terms of this Lease as might be applicable to Tenant. Any such month-to-month tenancy, except that Tenant shall pay Base Rent Abatement at the greater of (a) one hundred twenty-five percent (125%) of the rate in effect for the month immediately prior to such holdover, or (b) fair market rent, as reasonably determined by Landlord. Tenant shall pay its Proportionate Share of Operating Cost Share Rent and Tax Share Rent during any holdover period in accordance with the terms of this Lease, and shall be separate from and in addition responsible for its Proportionate Share of any increases thereto. No acceptance of Rent or other payments by Landlord under these holdover provisions shall operate as a waiver of Landlord’s right to regain possession based on breach of lease or any Rent Abatement described in Section 3.2 belowother Landlord remedy.

Appears in 1 contract

Sources: Lease Agreement (Where Food Comes From, Inc.)

Lease Term. The terms and provisions of this (a) This Lease shall be become legally effective as of and binding upon the parties immediately upon the date of this Lease. The term full and final execution and delivery hereof, subject to terms, covenants and conditions set forth herein (including the conditions precedent and termination rights of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is parties set forth in Section 3.2 of the Summary54, 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 hereunderbelow). For purposes of this Lease, (1) the term “Term” or “Lease YearTerm” shall mean the Initial Term and, if applicable, any exercised Renewal Terms (as defined herein), (2) the initial fixed term of this Lease (exclusive of any exercised Renewal Terms) is sometimes referred to herein as the “Initial Term”, and (3) the Renewal Terms (exclusive of the Initial Term) are sometimes each consecutive twelve (12) month period during referred to herein as a “Renewal Term” and collectively as the “Renewal Terms”. The Initial Term of this Lease Term. At any time during shall commence for each phase of the Lease Term, Landlord may deliver Premises delivered to Tenant a notice on the date upon which Substantial Completion of such phase has been achieved and tender of possession of such phase has been made to Tenant pursuant to the Phasing Plan (as defined in the form as Work Agreement) in accordance with the provisions of Sections 1.3(b) and (c), below (such date with respect to each such phase, the “Commencement Date”), and shall expire on the “Lease Expiration Date” which shall be the last day of the one hundred eightieth (180th) full calendar month after the Rent Commencement Date for the last phase of the Premises delivered to Tenant hereunder; provided that for all purposes of this Lease, the duration of any Renewal Terms or extension terms exercised by Tenant shall be added onto the initial Lease Term stated to be in effect under the preceding clause. In no event will possession of (or early access to) any applicable phase of the Premises be delivered to Tenant prior to the Commencement Date for such phase except (i) for early access (“Early Access”) granted pursuant to an Access Agreement reasonably satisfactory to Landlord and Tenant (which may, inter alia, obligate Tenant to be insured, and otherwise comply with certain covenants and indemnities set forth in this Lease with respect to its use, occupancy and activities within portions of the Premises during any period of occupancy of the Premises prior to the Commencement Date), and/or (ii) for purposes of Early Work, as such term is defined in Exhibit C, attached heretoand subject to all terms, as a confirmation only covenants, indemnities and limitations applicable to Early Work under Exhibit C. Prior to the Rent Commencement Date for each phase hereunder, Tenant shall be bound by all of the information set forth thereinterms and conditions of this Lease applicable to such phase, which other than those requiring the payment of Base Rent and Additional Rent by Tenant, provided Tenant shall execute be responsible during the period between the Commencement Date and return the Rent Commencement Date only for the utility expense applicable to that phase of the Premises which has been delivered to Tenant, but not for utility expenses associated with the undelivered balance of the Premises (if any). (b) Landlord within ten (10) business days and Tenant acknowledge and agree that the mutual intent of receipt thereof; providedLandlord and Tenant is that Landlord deliver, howeverand Tenant take possession of, Tenant’s failure the Premises, on a phased basis in accordance with, and subject to execute the terms and return such notice to Landlord within such time conditions of, the Phasing Plan. Tenant shall be conclusive obligated to accept possession of each applicable phase of the Premises upon Tenant (i) Landlord’s certification that the information set forth in it has achieved Substantial Completion thereof and (ii) tender of possession of such notice is as specified therein. In addition phase by Landlord to the foregoingTenant, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if provided that (1) Landlord fails will not be entitled to tender possession of any phase of the Premises (nor may Tenant take possession of any phase of the Premises except for purposes of Early Access, if applicable, or Early Work pursuant to Exhibit C) prior to the date indicated for delivery of such phase under the Phasing Plan, (2) Landlord shall be obligated to provide Tenant with written notice of its intent to tender possession of each applicable phase of the Premises not less than five (5) calendar days prior to the date of such tender of possession (such notice, a “5-Day Notice”), so that the parties can schedule a walk-through of such phase on or before January 2, 2015 the date of tender of possession thereof (and Landlord and Tenant each agree to make themselves available for the “Base Rent Delivery Date”), Tenant shall be entitled to one walk-through on such fifth (15th) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date 5-Day Notice), and ending on the date Landlord so tenders (3) in no event will any phase of delivery of possession of the Premises involve less than full floors of the Premises, in each instance under the preceding clauses (1) - (3) unless otherwise approved by Tenant, which approval may be withheld in Tenant’s sole and absolute discretion. Subject to Tenant. Any such Base Rent Abatement ’s right to dispute and/or require arbitration of Landlord’s certification that it has achieved Substantial Completion of a phase of the Premises, as more fully set forth in Section 1.3(c), below, “tender of possession” by Landlord to Tenant shall be separate deemed to have occurred on the later to occur of (A) the fifth (5th) day after the 5-Day Notice, or (B) the first (1st) business day after Landlord’s delivery of a written certificate to Tenant (or to Tenant’s Representative, as defined in Exhibit C) certifying that it has achieved Substantial Completion of such applicable phase of the Premises (a “Certification of Substantial Completion), provided Landlord delivers keys or electronic key cards enabling Tenant to enter such phase of the Premises, and has provided free access to such phase of the Premises, by such 5th day or following business day, as the case may be. (c) In the event Tenant, in good faith, disputes that Landlord’s Certification of Substantial Completion for any phase of the Premises is accurate, Tenant shall, within five (5) business days after receipt of Landlord’s Certification of Substantial Completion for such phase, provide a written notice to Landlord specifying in reasonable detail the basis for such dispute (a “SC Dispute Notice”). Tenant’s SC Dispute Notice shall be limited to identifying those incomplete items or deviations from the Construction Documents or this Lease which Tenant believes in good faith causes such phase of the Premises not to be Substantially Complete. If Landlord is in agreement with Tenant’s SC Dispute Notice, Landlord shall, within two (2) business days after its receipt of Tenant’s SC Dispute Notice, so notify Tenant in writing. If Landlord is not in agreement with Tenant’s SC Dispute Notice, Landlord shall, within two (2) business days after its receipt of Tenant’s SC Dispute Notice, so notify Tenant, which notice will identify all items identified within Tenant’s SC Dispute Notice with which Landlord agrees, and all items identified within Tenant’s SC Dispute Notice with which Landlord, in addition good faith, disagrees, and the basis for such disagreement. If Landlord agrees that Tenant’s SC Dispute Notice is accurate, then Landlord shall promptly satisfy all items identified therein, and the Certification of Substantial Completion shall, in such event, be deemed effective no earlier than the first (1st) business day following the date upon which Landlord completes its remedy of all applicable items identified in Tenant’s SC Dispute Notice and provides Tenant with a revised Certification of Substantial Completion for such phase (which revised certification shall itself be subject to dispute resolution in accordance with this subsection). If Landlord, in good faith, agrees with only a portion of Tenant’s SC Dispute Notice, or disagrees entirely therewith, then the parties shall meet promptly thereafter to attempt to resolve, in good faith, all matters in dispute (and Landlord agrees that it will concurrently address all items identified in Tenant’s SC Dispute Notice as to which there is no disagreement, if any). If the parties are unable, despite their good faith efforts, to resolve their disagreement as to any or all of the items in Tenant’s SC Dispute Notice within a five (5) business day period after the date Landlord’s written response to Tenant’s SC Dispute Notice is received by Tenant, then the parties shall promptly submit the matter in dispute to expedited arbitration pursuant to Section 49 of this Lease. In any such arbitration, the panel of arbitrators shall have the right, inter alia, (A) to determine that the date of Substantial Completion of the applicable phase was (i) the date stated in Landlord’s Certification of Substantial Completion, (ii) an alternative date advocated by Tenant, (iii) such other date as may be proposed by the parties, or (iv) such other date as the arbitrators may decide that Substantial Completion of such phase actually occurred, (B) to determine that Substantial Completion of the applicable phase has not yet occurred, and/or (C) to enter findings as to which items must be addressed in order for Substantial Completion to occur, if any. Nothing set forth in this subsection shall be construed to restrict Landlord and Tenant from mutually agreeing to resolve any dispute as to the correctness or accuracy of Landlord’s Certification of Substantial Completion on a basis different from that set forth herein. In the event the date of Substantial Completion of a phase of the Premises is found to have been different from that set forth in Landlord’s Certification of Substantial Completion, and Tenant made a payment of Rent Abatement described to Landlord prior to the date such payment would otherwise have been due because of such inaccurate Certification of Substantial Completion, then Landlord shall credit Tenant (against the next payment of Rent due from Tenant to Landlord) with interest on such prepaid amount, calculated at the Prime Rate, from the date such prepaid amount was actually paid by Tenant to the date such amount would have been due and payable had the actual date of Substantial Completion been accurately stated in Section 3.2 belowthe Certification of Substantial Completion.

Appears in 1 contract

Sources: Deed of Lease (Telecommunication Systems Inc /Fa/)

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 (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 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 2nd and 3rd floor portions of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January September 15, 2023, 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) on or before December 15, 2015 (the “Base Rent Delivery Date”)2023, 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, delays due to utility companies that are not the result of any action or inaction of Landlord, actual or threatened public health emergency (including, without limitation, epidemic, pandemic, famine, disease, plague, quarantine, and other significant public health risk), governmental edicts, actions, declarations or quarantines by a governmental entity or health organization (including, without limitation, any shelter-in-place orders, stay at home orders or any restrictions on travel related thereto that preclude Tenant, its agents, contractors or its employees from accessing the Premises, national or regional emergency) (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

Sources: Lease (Graphite Bio, Inc.)

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 Para▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ ▇▇▇ll 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

Sources: 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 “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 ▇▇▇▇-▇▇▇▇-▇▇▇▇.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 ▇▇▇▇▇▇’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

Sources: Lease (Pliant Therapeutics, Inc.)

Lease Term. The terms and provisions of this initial Lease Term shall be effective begin as of the date of Lease Commencement Date and shall continue until ten (10) years after the Lease Commencement Date unless sooner terminated or renewed as provided in this Lease. The term of this Lease (Provided that no Default has occurred and is continuing at the time Tenant elects to extend the Lease Term, Tenant, at its sole option, may extend the Lease Term for three (3) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 additional periods of the Summaryfive (5) years each (individually, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summaryan "Extension Period"), 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 all the validity of this Lease or the obligations of Tenant hereunder. For purposes provisions of this Lease, except, however, the term “Lease Year” Monthly Rent (as defined in Paragraph 5 below) shall mean be adjusted at the commencement of each consecutive twelve Extension Period to an amount equal to the then current fair market rental rate if the then current fair market rental rate is more one hundred ten percent (12110%) month period during or less than ninety percent (90%) of the Lease TermMonthly Rent then currently payable. At any time during Otherwise, such rent shall be adjusted to the Lease TermMonthly Rent payable immediately preceding the commencement of such Extension Period, plus 3%. If, after thirty (30) days following delivery of the written extension notice described in Paragraph 4.2 below, Landlord and Tenant are unable to agree upon the fair market rental value of the Premises, Tenant shall obtain at its expense and deliver to Landlord an independent appraisal of the fair market rental value of the Premises as of the commencement of the Extension Period. Following its receipt of Tenant's appraisal, Landlord may elect to obtain at its expense and deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only second independent appraisal 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 fair market rental value of the Premises as of the commencement of the Extension Period. If Landlord elects not to Tenant on obtain a second appraisal, or before January 2if Landlord's appraisal is no more than five percent (5%) greater than Tenant's appraisal, 2015 (the “Base Rent Delivery Date”), Tenant Tenant's appraisal shall be entitled conclusive. If Landlord's appraisal is more than five percent (5%) greater than Tenant's appraisal, the two appraisers shall appoint a third appraiser to one (1) day of per diem Base Rent abatement for each day commencing on appraise the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession fair market rental value of the Premises to Tenant. Any such Base Rent Abatement as of the commencement of the Extension Period, and the fair market rental value of the Premises shall be separate from the arithmetical average of the two appraisals closest in their determination of fair market rental value. Landlord and Tenant shall bear equally the expense of the third appraiser. The Monthly Rent as so determined for each Extension Period shall be increased annually by three percent (3%) as provided in addition to any Rent Abatement described in Section 3.2 belowParagraph 5.

Appears in 1 contract

Sources: Single Tenant Lease (Illumina Inc)

Lease Term. The Subject to the remaining terms of this Section 2.1, 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 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 (10) business days of receipt thereof; providedprovided that if said notice 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 shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinten (10) business day period. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties Such modified Notice of Lease Term Dates 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”)shall not be binding unless Landlord countersigns the notice with Tenant’s changes. If Landlord 35654\12546889.9 06907\011\8493037.v6 does not so countersign the notice, Landlord and Tenant shall be entitled work together in good faith to one (1) day agree upon and mutually execute an acceptable Notice of per diem Lease Term Dates and 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 belowRent.

Appears in 1 contract

Sources: Lease (Penumbra Inc)

Lease Term. Commencement Date: July 3, 2009 provided that Tenant has complied with all applicable provisions of the Full Building Lease including, without limitation, timely payment to Landlord of the Termination Fee equal to One Million Nine Hundred Thousand and No/100 Dollars ($1,900,000.00) (the “Commencement Date”). If the conditions in the immediately preceding sentence have not been met as of July 3, 2009, the Commencement Date shall be that day immediately following the Cancellation Date, as such term is used and defined in the Full Building Lease. Effective upon payment of the Termination Fee, the Full Building Lease shall be deemed terminated as provided in that certain Lease Termination Agreement by and between Landlord and Tenant dated as of the same date as this Lease. Expiration Date: The terms last day of the sixtieth (60th) full calendar month following the month in which the Commencement Date occurs (the “Expiration Date”), subject to the provisions of Paragraph 26.1. The period of time commencing on the Commencement Date and expiring on the original Expiration Date as set forth above shall be known as the “Initial Term”. Number of Full Calendar Months: Approximately sixty (60); if the Commencement Date does not occur on the first day of a month, the Lease Term shall include that portion of the month in which the Commencement Date occurs which follows the Commencement Date (the “First Partial Month”). Early Lease Period: The period of the Lease Term commencing on the Commencement Date and continuing through ninety (90) days thereafter, during which Early Lease Period the provisions of Paragraph 3.2 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 control over any conflicting provisions 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 belowotherwise.

Appears in 1 contract

Sources: Office Lease (Nautilus, 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,” as that term is date set forth in Section 3.2 1.1.7 of the SummarySummary (the "Commencement Date"), (subject, however, to the terms of Section 5 of the Work Letter attached hereto as Exhibit 2), and shall terminate expire on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 1.1.8 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 Buildingprovided in this Lease. If Landlord is shall be unable for any reason to deliver possession of the Premises to Tenant on or before the anticipated Commencement Date set forth in Section 1.1.7 of the Summary for any specific date reason whatsoever (including holding over by an existing tenant or occupant of the Premises), then Landlord shall not be subject to any liability for its the failure to do so, and so nor shall such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, Following the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease TermCommencement Date, Landlord may shall deliver to Tenant a notice in the form Confirmation of Lease Term Dates attached hereto as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein5, which Confirmation of Lease Term Dates Tenant shall execute and --------- return to Landlord within ten five (105) business days of after 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 event the Premises to Tenant Commencement Date shall not have occurred on or before January 2June 1, 2015 (the “Base Rent Delivery Date”)2000, Tenant shall have the right to terminate this Lease by giving written notice of termination ("Termination Notice") to Landlord on or before June 10, 2000. In the event Tenant exercises the termination right in the preceding sentence, this Lease shall terminate unless the Commencement Date shall have occurred on or before July 1, 2000 in which event the Termination Notice shall be entitled deemed null and void. In the event this Lease shall terminate, Landlord shall return the Security Deposit or the Letter of Credit (as hereinafter defined) delivered by Tenant to one (1) day of per diem Landlord and Monthly 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 first full calendar month of the Premises Lease Term paid pursuant to Tenant. Any such Base Rent Abatement Paragraph 3 below, whereupon neither party shall be separate from and in addition to have any Rent Abatement described in Section 3.2 belowfurther rights, obligations or liabilities under this Lease, except for any obligations or liabilities that expressly survive termination.

Appears in 1 contract

Sources: Office Space Lease (Noosh 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 "Term" or "Lease Term") shall commence on the “Lease "Commencement Date,” ", as that term is set forth defined in Section 3.2 of the Summary, 1.4 below (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 more fully set forth in Exhibit C hereto), and shall expire one hundred fifty-two (152) months thereafter (the "Lease Expiration Date"); provided that if the 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 above from the first day of the calendar month following the Commencement Date. Notwithstanding the foregoing Commencement Date: (i) pursuant to the provisions of Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant and its agents and contractors 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 have access to the foregoingPremises and Land at all times following the date hereof for the purpose of constructing the improvements to be made by it pursuant to the terms of Exhibit C, subject to any delays caused or as otherwise contemplated or permitted by Tenant or any Tenant Parties this Lease; 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”), ii) Tenant shall be entitled to one (occupy and conduct business from the Premises at any time on or after March 1) day of per diem Base Rent abatement for each day commencing on , 1997. In the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession event Tenant occupies all or any part of the Premises at any time prior to Tenant. Any the Commencement Date, such Base Rent Abatement occupancy shall be separate from subject to all of the terms and conditions of this Lease, excluding, however the payment of Rent and increases in addition Operating Costs and Real Estate Taxes (as such terms are hereinafter defined), and provided that Tenant shall not be obligated to any Rent Abatement described pay utility costs until the earlier to occur of (a) the date Tenant commences business operations in Section 3.2 belowthe Premises, or (b) the Commencement Date.

Appears in 1 contract

Sources: Sublease Agreement (Information Analysis Inc)

Lease Term. The terms Owner hereby leases to the Resident, and provisions of this Lease shall be effective Resident hereby rents from Owner, the Apartment, for the term and at the rent amount 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 herein, said Apartment to be used solely as the Summary, Resident’s dwelling unit and shall terminate on the “Lease Expiration Date,” as that term is occupied solely by those persons whose names are set forth herein. Except as otherwise expressly provided in Section 3.3 of the SummaryVa. Code ▇▇▇. §55.1-1238, 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 Owner shall incur no liability to Resident for any reason failure to deliver possession of the Premises Apartment to Tenant Resident by the Lease Begin Date except that the rental payable hereunder shall ▇▇▇▇▇ until such time as possession is delivered. THIS LEASE SHALL AUTOMATICALLY RENEW ON THE SAME TERMS AND CONDITIONS ON A MONTH-TO-MONTH BASIS, AT A MONTH-TO-MONTH RENT (EXCEPT AS SET FORTH BELOW), unless (i) Resident gives Owner on any specific or before sixty days prior to the end of the then current term written notice of Resident’s intent to terminate, or (ii) if the Resident’s lease term is already month-to-month, Resident has the right to terminate as of the last day of the calendar month, by giving written notice to Owner thirty days prior to the expiration of the terms of the then current month-to-month term, or (iii) Owner gives Resident on or before thirty days prior to the end date of the then current term written notice of Owner’s intent to terminate. In the event Resident gives Owner notice of Resident’s intent to terminate, Resident shall also specify in such notice of termination the date on which Resident intends to physically vacate the apartment. If, on or before thirty days prior to the end date of the then Landlord shall not be subject current term, Owner gives Resident notice of Owner’s intent to any liability for its failure to do so, and such failure shall not affect change the validity of this Lease or the obligations of Tenant hereunder. For purposes terms of this Lease, and if Resident does not within fifteen days thereafter notify Owner in writing of Resident’s intent to vacate at 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 end date of the information set forth thereinthen current term, which Tenant this Lease shall execute automatically renew on a month-to-month basis upon the terms and return to Landlord within ten (10) business days conditions contained herein except as modified by the contents of receipt thereof; provided, however, TenantOwner’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 belownotice.

Appears in 1 contract

Sources: Lease Agreement

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

Sources: Lease Agreement (Outbrain 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 ninety eight (98) years, commencing on the “Lease date hereof (the "Commencement Date,” as that term is set forth in Section 3.2 ") and automatically terminating without further notice or demand on the expiration of the Summaryninety eighth (98th) anniversary of the Commencement Date; provided, and that this Lease shall terminate on the “Lease Expiration Date,” as such earlier date 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 acquires fee simple title to the Premises are currently occupied as provided in the SPA. (b) Provided that no Event of Default has occurred which remains uncured by another tenant of Tenant, Tenant shall have the Building. If Landlord is unable for any reason right and option to deliver possession of extend 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 for an unlimited number of successive terms of Ninety Eight (98) years each (each an "Extension Term") (the obligations of Tenant hereunder. For purposes of this LeaseInitial Term and any Extension Term, as applicable, are collectively referred to as the term “Lease Year” shall mean each consecutive twelve (12) month period during "Term"), upon the Lease same terms and conditions applying to the Initial 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 exercise such option to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such extend the Term by providing written 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 no less than one (1) day of per diem Base Rent abatement for each day commencing on year prior to the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession expiration of the Premises Initial Term or the then current Extension Term, as applicable. Notwithstanding the foregoing, the parties desire to avoid the inadvertent failure of Tenant of exercising the option to extend the Term. Accordingly, Landlord agrees that, if Tenant does not give written notice to Landlord of its election to exercise the extension option prior to the notice deadline set forth above, such option to extend shall remain in effect until the later of one year prior to the expiration of the Initial Term or the then current Extension Term, as applicable, or the expiration of thirty (30) days following Tenant. Any 's receipt of written notice from Landlord stating that Tenant's option to extend must be exercised or will lapse; provided, further, that Landlord may provide such Base Rent Abatement reminder notice at any time within three (3) years prior to the scheduled expiration of the Initial Term or the then current Extension Term, as the case may be. (c) Notwithstanding anything contained herein to the contrary, in the event any of the Extension Term rights granted under this Lease shall be separate from unlawful or void for violation of (a) the rule against perpetuities or some analogous common law or statutory provision, (b) the rules restricting restraints on alienation, or (c) any other statutory or common law rule imposing time limits, then Landlord and Tenant acknowledge and agree that any such rights or provisions contained in addition this Lease shall be amended, modified, or changed so as to comply with any Rent Abatement described in Section 3.2 belowsuch common law or statutory provision(s), including, but not limiting to modifying the term of this Lease to the period calculated by the death of President ▇▇▇▇▇▇ ▇. ▇▇▇▇ plus twenty (20) years.

Appears in 1 contract

Sources: Ground Lease Agreement (Geo Specialty Chemicals 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 sixty-six (66) calendar months. The Term shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 earlier of the Summary, and shall terminate on the “Lease Expiration Date,” as date that term is set forth in Section 3.3 Tenant takes possession of the Summary, unless this Lease is sooner terminated as hereinafter provided. Premises or 10 days after Landlord notifies Tenant hereby acknowledges that the Premises are currently occupied by another tenant ready for occupancy (the "Commencement Date") which is estimated to be September 1, 2005, but no earlier than September 1, 2005, and end on the last day of the Buildingcalendar month which is sixty-six (66) months after the Commencement Date (the "Termination Date"), unless renewed, terminated or extended on the terms and conditions set forth herein. If Landlord is unable for any reason to deliver In the event that Tenant takes possession during the Pre-Commencement Occupancy Period as defined herein, the Commencement Date shall be September 1, 2005. Each of the Premises parties hereto agrees, upon demand of the other, to Tenant execute a Commencement Agreement substantially in accordance with Exhibit "D" attached hereto establishing the Commencement Date as soon as it has been determined. In the event the Commencement Date occurs on any specific date other than the first day of the month, then the first lease year of the Term shall commence on the Commencement Date and end on the last day of the twelfth (12th) full month following the Commencement Date. Landlord and Tenant agree that Landlord shall not be subject use its best efforts 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 make the Premises to Tenant on ready for occupancy by September 1, 2005 or before January 2, 2015 such sooner date as the Premises is ready for occupancy (the “Base Rent Delivery "Pre-Commencement Occupancy Date”), ") and that Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on occupy the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession Premises as of the Premises to TenantPre-Commencement Occupancy Date through the Commencement Date (the "Pre-Commencement Occupancy Period") on a Rent free basis. Any such Base Rent Abatement However, Tenant shall be separate from required to comply with all other terms and conditions of the Lease during the Pre-Commencement Occupancy Period. The foregoing notwithstanding, in addition the event the Premises are not delivered to any Rent Abatement described Tenant by October 1, 2005, Landlord grants Tenant an option to terminate ("Termination Option") the Lease provided that Tenant gives Landlord written notice ("Termination Notice") of Tenant's election to exercise its Termination Option. The Termination Option is not available to Tenant if Tenant is in Section 3.2 belowdefault under the Lease or if Landlord's inability to timely deliver the Premises is a direct result of Tenant caused delays.

Appears in 1 contract

Sources: Full Service Lease Agreement (Teamstaff Inc)

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

Sources: Military Housing Lease

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 Tena▇▇'▇ 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 ▇▇▇ 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

Sources: Lease Agreement (Source Energy Corp /Ut/)

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

Sources: Lease 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; 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

Sources: Lease (Inhibrx, Inc.)

Lease Term. The terms and provisions term of this Lease shall be effective as for a period of the date of this Lease. The term of this Lease 96 months commencing upon June 1, 2006 (the “Commencement Date”) and ending on May 31, 2014 (“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 Landlord cannot deliver possession of the Premises to the Tenant on any specific date or before the Commencement Date, then Landlord Tenant shall not be obligated to pay rent until possession of the Premises is tendered to Tenant. In such event, the Lease Term shall be extended so that the term remains 96 months. If the Premises are delivered on a date other than the first day of the month, rent for that month shall be prorated and the Lease Term shall be extended so that the term shall be 96 months from the last day of the following month. If Tenant occupies the Premises prior to the Commencement Date, occupancy shall be subject to any liability for its failure to do so, all provisions hereof and such failure shall not affect advance the validity last day 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 and Tenant shall pay rent for such period at the initial monthly rate set forth below. Notwithstanding anything herein to the contrary, provided Tenant a notice is not in default hereunder, 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 event Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 within ninety (90) days following the “Base Rent Delivery Commencement Date”), Tenant shall be entitled have the right to one cancel this Lease by giving written notice to Landlord within ten (110) days after the ninety (90) day period ends. If Tenant gives such notice, this Lease shall be cancelled and neither Landlord nor Tenant shall have any further obligations to the other. If Tenant does not give such notice, Tenant’s right to cancel the Lease shall expire, and the Lease Term shall commence upon delivery 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

Sources: Lease (Cuisine Solutions Inc)

Lease Term. The terms and provisions of this This Lease shall be effective as continue in force during a period beginning on the 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 herein. Subject to delays resulting from Force Majeure Matters or delays caused by Tenant hereby acknowledges that or Tenant's agents, employees, contractors, subcontractors or licensees, including, without limitation, change orders to the Tenant Improvements Plans and Specifications ("Tenant Delay Factors"), Landlord will do its best efforts to deliver the Premises are currently occupied to Tenant not later than the Commencement Date set forth in the Lease Summary (the "Target Commencement Date"), with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications, as evidenced, if requested by another tenant Tenant, by a certificate of the Buildingsubstantial completion issued by Landlord's architect or other designated engineering representative. If Landlord is unable for any reason whatsoever cannot deliver possession of the Premises to Tenant (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) not later than the Target Commencement Date, this Lease shall not be void or voidable nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom; but in that event, Landlord shall act diligently and in good faith to complete the work that is necessary to allow Landlord to deliver the Premises to Tenant as specified above. In such case, (a) if Landlord's failure to deliver possession of the Premises to Tenant on any specific date (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) by the Target Commencement Date is not the result, then Landlord shall not be subject to any liability for its failure to do soin whole or in part, and such failure shall not affect the validity of this Lease one or the obligations of more Tenant hereunder. For purposes of this LeaseDelay Factors, 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 Commencement Date shall be conclusive upon Tenant that adjusted to be the information set forth date when Landlord does 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 fact deliver possession of the Premises to Tenant on as described above and (b) if Landlord's failure to deliver possession of the Premises to Tenant (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) by the Target Commencement Date is the result, in whole or before January 2in part, 2015 of one or more Tenant Delay Factors, the Commencement Date shall be the later of (i) the “Base Rent Delivery Date”Target Commencement Date or (ii) the date the Tenant Improvements would have been substantially completed in the absence of such Tenant Delay Factors(s). Notwithstanding the foregoing, if for any reason other than Force Majeure Matters or Tenant Delay Factors, Landlord cannot deliver possession of the Premises (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) to Tenant by October 1, 2000, Tenant shall be entitled to terminate this Lease by so notifying Landlord in writing not later than October 10, 2000. Time is of the essence relative to Tenant's right to terminate this Lease pursuant to this Paragraph 3 and in the event that Tenant fails to deliver the notice of termination to Tenant by October 10, 2000, Tenant shall have no further right to terminate this Lease. In the event that the Building is substantially completed and a certificate of occupancy for the shell of the Building has been issued by all appropriate governmental entities, Tenant shall be entitled to take early occupancy of the Premises on or after August 15, 1999. In the event that Tenant occupies the Premises prior to the Commencement Date, all terms and conditions applicable to Tenant under this Lease shall be enforceable against Tenant, except that Tenant shall not be obligated to pay for Base Rental. If, for any reason other than Force Majeure Matters or Tenant Delay Factors, Landlord cannot deliver possession of the Premises (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications) to Tenant by October 1, 1999, Landlord shall pay a per day penalty equal to two (2) days rental amount due under this Lease for each day after October 1, 1999 that the Landlord cannot deliver possession of the Premises (with the Tenant Improvements substantially completed in accordance with the Tenant Improvements Plans and Specifications. Within five (5) days following Tenant's occupancy of the Premises, Tenant shall execute and deliver to Landlord duplicate originals of a stipulation in the form attached to this Lease as Exhibit G (with the blanks properly completed). Subject to Landlord's approval of the information inserted by Tenant in the blanks, Landlord shall execute the duplicate originals of the stipulation and shall promptly return 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 fully executed original 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

Sources: Lease Agreement (Florida Business Bancgroup 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 below.similar expression shall be deemed to

Appears in 1 contract

Sources: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)

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

Sources: Standard Office Lease (Alloy 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 October 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) February 1, 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 1 contract

Sources: Lease Agreement (Nkarta, Inc.)

Lease Term. The terms and provisions of this This Lease shall be effective remain in force for a Primary Term of Five (5) years from day of 2012, and for as long thereafter as prescribed payments are made, or operations are conducted on the Leasehold in search of production of oil, gas, or their constituents, or for as long as a well capable of production is located on the Leasehold or on lands unitized or combined with the Leasehold, or for as long as extended by other provisions herein. If, after the primary term, the last producing well on the Leasehold or on lands unitized or combined with the Leasehold is plugged and abandoned, the Leasehold will remain under lease for an additional period of one year from the date of this Lease. The plugging and abandonment, If Lessee’s operations are delayed, postponed or interrupted as a result of any coal, stone or other mining related operation under any existing and effective lease, permit or authorization covering such operations on the leased premises or on other lands affecting the leased premises, such delay will automatically extend the primary or secondary term of this Lease (oil and gas lease without additional compensation or performance by Lessee for a period of time equal to any such delay, postponement or interruption. There is no covenant to develop the “Lease Term”) Leasehold within a certain time frame, and there shall commence be no leasehold forfeiture for implied covenants to produce. Provisions herein constitute full compensation for privileges herein granted. No well shall be drilled on the “Lease Commencement Date,” as that term leased premises, nor shall Lessee enter upon or install any installation of any nature whatsoever on the leased premises. This lease is set forth in Section 3.2 being granted for the sole purpose of permitting Lessee to unitize the leased premises with other leases or properties which shall bear all the burden of surface development. Lessor understands and gives consent that, due to directional or horizontal drilling originating from surface entry on a parcel not owned by Lessor, the wellbore may pass through or terminate below the surface of the Summary, leased premises. Lessee may surrender and shall terminate on the “Lease Expiration Date,” cancel this lease as that term is set forth in Section 3.3 to all or any part of the SummaryLeasehold by recording a Surrender of Lease and if partially surrendered, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied any payments by another tenant of the Building. If Landlord is unable Lessee provided 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 PAYMENT clause shall be conclusive upon Tenant that the information set forth reduced in such notice is as specified therein. In addition proportion 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 belowacreage surrendered.

Appears in 1 contract

Sources: Non Surface Oil and Gas Lease

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 the tire 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 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 of Force Majeure, if If Landlord fails to tender does not deliver possession of the Premises to Tenant on or before January 2the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the Summary), 2015 Landlord shall not be subject to any liability nor shall the validity of this Lease nor the obligations of Tenant hereunder be affected. 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) of the Summary, within a reasonable period of time after the date Tenant takes possession of the Premises Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, setting forth 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. If Tenant fails to execute and return the “Base Rent Delivery Date”)amendment within such 5-day period, Tenant shall be entitled deemed to one have approved and confirmed the dates set forth therein, provided that such deemed approval shall not relieve Tenant of its obligation to execute and return the amendment (1and such failure shall constitute a default by Tenant hereunder). In the event that 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 Section 7.2(ii) 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 belowSummary.

Appears in 1 contract

Sources: Office Lease (InterPrivate III Financial Partners Inc.)

Lease Term. The terms and provisions of this (a) This Lease shall be effective as continue in force during a period beginning on the Rent 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 provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. or extended to a later date under any other term or provision hereof. (b) If Landlord is unable Landlord, for any reason to whatsoever, cannot deliver possession of the Premises to Tenant on any specific date given 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 such failure neither Landlord nor Landlord's agents 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 be liable to Tenant a notice for any loss or damage resulting from the delay in the form as set forth in Exhibit C, attached hereto, as a confirmation only delivery of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofpossession; provided, however, that in such event, except to the extent of any Tenant’s failure to execute 's Delay (as hereinafter defined) the Rent Commencement Date of this Lease and return such notice to Landlord within such time all other dates that may be affected by their change, shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition revised to conform to the foregoingdate of Landlord's delivery of possession to Tenant. (c) Notwithstanding anything contained in this Lease to the contrary, subject Tenant shall observe and perform all of its obligations under this Lease, including, without limitation, its obligation to pay charges for utilities and to provide insurance (excepting its obligation to pay any delays caused by Rent required under the Lease or to operate its business within the Premises), from the date upon which the Premises are made available to Tenant for Tenant Improvements or any the date Tenant Parties and events commences to perform Tenant Improvements, whichever is earlier, until the actual Rent Commencement Date. For purposes of Force Majeure, if Landlord fails to tender tendering possession of the Premises to Tenant on as aforesaid, Landlord shall not be required to have completed or before January 2substantially completed any work to be performed outside of the Premises. (d) If Landlord is obligated to complete any of the Tenant Improvements, 2015 then if by the date specified as the Rent Commencement Date in Subparagraph 1(a)(iv) of this Lease, Landlord has not substantially completed any of the Tenant Improvements to the Premises set forth in the Work Letter required to be made by the Landlord, if any, then, except to the extent of any Tenant's Delay (the “Base Rent Delivery Date”as hereinafter defined), Tenant Tenant's sole remedy shall be entitled that the Rent Commencement Date shall be postponed (and the Rent herein provided shall not commence) until the earlier of either: (i) the date of actual occupancy of the Premises by Tenant; or (ii) the date immediately following the day Landlord would have achieved substantial completion of such improvements but for Tenant's Delay, if any. Other than postponing the Rent Commencement Date as provided in this Subparagraph (b), Landlord shall have no further liability for failure to achieve substantial completion by the Rent Commencement Date specified in Subparagraph 1(a)(iv) of this Lease. (e) Notwithstanding anything contained in this Lease to the contrary, if, and to the extent, Landlord's substantial completion of the Tenant Improvements to the Premises required to be made by the Landlord, if any, pursuant to Exhibit "D" hereto and/or delivery of the Premises is materially delayed due to any act, omission or default by Tenant or anyone acting under or for Tenant (any such delay being referred to herein as "Tenant Delay"), then the Rent Commencement Date shall be moved forward (earlier) 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 delay caused by such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowTenant Delay.

Appears in 1 contract

Sources: Lease Agreement (Legal Club of America 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; 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 -5- HCP ▇▇▇▇▇▇ ▇▇▇▇▇, LLC [11099 NORTH ▇▇▇▇▇▇ ▇▇▇▇▇ ROAD] [Synthorx Inc.] 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 1 contract

Sources: Lease Agreement

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

Sources: 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

Sources: Lease Agreement (Werewolf Therapeutics, Inc.)

Lease Term. 2.2.1 The terms and provisions of this Lease Term shall be effective for the period stated in the definition of that term, unless earlier terminated as of the date of provided in 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 If this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that executed before the Premises are currently occupied by another become vacant or otherwise available or if any present tenant or occupant of the Building. If Premises holds over, and Landlord is unable for any reason to deliver cannot acquire possession of the Premises in time to Tenant on deliver them by any specific date estimated or anticipated Commencement Date (or any other date), then or if Landlord is otherwise unable to deliver the Premises by any estimated or anticipated Commencement Date (or any other date), this Lease shall not be void or voidable, and Landlord shall not be subject deemed to be in default hereunder, nor shall Landlord be liable for any liability loss or damage directly or indirectly arising out of or resulting from such holdover or otherwise. Subject to extension for its failure any delays caused by events of force majeure and/or Tenant or Tenant’s Agents, if Substantial Completion of the Landlord Work fails to do sooccur by November 1, and 2017 (the “Outside Date”), then Tenant (as Tenant’s sole remedy for such failure failure) shall not affect thereafter, prior to the validity Substantial Completion of the Landlord Work, have the right to terminate this Lease by delivery of written notice of such election to Landlord, which notice must be given, if at all, on or before the obligations date which is ten (10) days following the Outside Date, which termination shall be effective thirty (30) days after Landlord receives Tenant’s termination notice; provided, further, that if Substantial Completion of Tenant hereunderthe Landlord Work occurs during such 30-day period, Tenant’s termination notice shall automatically be deemed null and void. For purposes of this LeaseNotwithstanding the foregoing, 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 event that Tenant shall execute and return fails to deliver any such Lease termination notice to Landlord within ten (10) business days following the Outside Date and/or prior to Substantial Completion of receipt thereof; provided, howeverthe Landlord Work, Tenant’s failure right to execute terminate the Lease as described herein shall automatically terminate and return such notice to Landlord within such time shall become null and void and be conclusive upon Tenant that the information set forth in such notice of no further force or effect. If this Lease is as specified therein. In addition terminated pursuant to the foregoingterms of this paragraph, subject this Lease and the rights and obligations of the parties pursuant to this Lease shall cease and terminate following which neither party shall have any delays caused by further rights or obligations arising out of this Lease or the termination of this Lease, except those rights and obligations expressly surviving expiration or earlier termination of this Lease. 2.2.2 Subject to all Governmental Requirements (defined below), Tenant or any Tenant Parties may enter the Premises after July 31, 2017 (and events prior to such date with Landlord’s written consent, which consent shall not be unreasonably withheld if the existing tenant that currently occupies the Premises as of Force Majeure, if Landlord fails to tender the Effective Date of this Lease has otherwise vacated and surrendered possession of the Premises to Tenant on or before January 2Landlord), 2015 for the sole purpose of installing Tenant’s furniture, fixtures and equipment (the “Base Rent Delivery Date”)provided, however, Tenant shall only be entitled permitted to one (1) day enter upon such portions of per diem the Premises, and at such times, as Landlord reasonably determines will not unreasonably interfere with the performance of the Landlord Work). Notwithstanding the foregoing, in no event shall Tenant enter the Premises until such time as Tenant has provided Landlord with evidence that Tenant has fulfilled its obligation to provide insurance pursuant to the provisions of this Lease. Such early entry in and of itself will not advance the Commencement Date. All of the provisions of this Lease shall apply to Tenant and Landlord during any early entry, including, without limitation, the indemnities set forth in this Lease and Tenant’s obligation to not unreasonably interfere with the performance of the Landlord Work, but excluding only the obligation to pay Base Rent abatement for each day commencing on until the day after the Commencement Date has occurred, whereupon Base Rent Delivery Date and ending on the date shall immediately commence. During any such early entry, Landlord so tenders possession of shall not be responsible for any loss, including theft, damage or destruction to any work or material installed or stored by Tenant at the Premises or for any injury to Tenant. Any such Base Rent Abatement shall be separate from Tenant or its agents, employees, contractors, subcontractors, subtenants, assigns, licensees or invitees, except to the extent caused by the gross negligence or willful misconduct of Landlord or Landlord’s Agents (subject to the terms and in addition to any Rent Abatement described conditions in Section 3.2 4.15 below). Landlord shall have the right to post appropriate notices of non-responsibility in connection with any early entry by Tenant.

Appears in 1 contract

Sources: Office Lease (Mannkind 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”"LEASE TERM") shall be as set forth in Section 5.1 of the Summary, shall commence on the “Lease Commencement date which is the earlier to occur of (i) one hundred twenty (120) days from the Effective Date,” , (ii) the date Tenant takes occupancy of the Premises, and (iii) the date of "Substantial Completion", as that term is set forth defined in Section 3.2 this Article 2, of the SummaryPremises ("LEASE COMMENCEMENT DATE"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 5.3 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” "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 the 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 C"B", 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 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

Sources: Lease (SGX Pharmaceuticals, Inc.)

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

Sources: Non Residential Lease Agreement (RMG Acquisition Corp. III)

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 March 31, 2020, 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 30, 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

Sources: Lease (MyoKardia 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 be the period specified in paragraph 1 hereof and shall begin on the “Lease Commencement Date,” . The Commencement Date shall be the date shown in paragraph 1 or provided that by such date the Landlord has completed the Landlord’s Work in accordance with the plans and specifications as that term is set forth described in Section 3.2 Exhibit B with the exception of a minor punch list and the Summary, Tenant has inspected the Premises and shall terminate on has given written notice to the Landlord (the “Lease Expiration Date,” as Tenant Satisfaction Notice”) that term it is set forth in Section 3.3 of satisfied with the SummaryLandlord’s Work, 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 such acceptance shall not be subject to any liability for its failure to do so, unreasonably withheld. . In the event that the Landlord has not completed the Landlord’s Work and such failure shall the Tenant has not affect issued the validity of this Lease or Tenant’s Satisfaction Notice by the obligations of Tenant hereunder. For purposes of this Leasedate shown in paragraph 1 above, the term “Lease Year” Commencement Date shall mean each consecutive twelve be the earlier of (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 Tenant shall execute and return to Landlord within ten (10) business days from the date the Tenant has issued the Tenant’s Satisfaction Notice or (ii) the date on which Tenant takes possession of the Premises. If the Commencement Date has not occurred for any reason whatsoever by November 15, 2003, , this Lease shall be voidable by the Tenant as its sole discretion and the Landlord shall return to the Landlord the full amount of the rent and security deposit paid by the Tenant. However, if Landlord should be delayed in such completion as a result of Tenant’s request for materials or installations other than Landlord’s standard or as a result of Tenant’s changes in plans, then the Commencement Date (and the payment of Rent hereunder) shall be accelerated by the number of days of receipt thereofsuch delay. In addition, if Landlord does not receive an executed copy of the lease agreement by September 8th then the rent commencement shall be accelerated by the number of days of such delay. If the Premises are vacant prior to the Commencement Date, Tenant shall have the right, at its own risk, to enter upon the Premises for the purpose of taking measurements therein, setting up office equipment and relevant telecommunications and for any other reasonable purpose permitted by Landlord; provided, however, Tenant’s failure to execute that such entry shall not interfere with any work being done by or on behalf of Landlord, and return such notice to Tenant shall indemnify Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinagainst any loss or liability arising therefrom. 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”)addition, Tenant shall be entitled responsible for any damage to one (1) day of per diem Base Rent abatement for each day commencing on the day after premises from its contractors entering the Base Rent Delivery Date space and ending on such damage shall not be considered a factor in the date Landlord so tenders possession Landlords delivery of the Premises space to Tenant. Any such Base Rent Abatement shall be separate from and in addition the Tenant or with regard to any Rent Abatement described in Section 3.2 belowthe Tenants satisfactions letter with regard to Landlords work.

Appears in 1 contract

Sources: Lease Agreement (Metromedia International Group Inc)

Lease Term. The terms ‌ 3.1 This Lease shall be for a term that commences on the Lease Term Commencement Date and expires on the last day of the calendar month in which the thirty-forth (34th) anniversary of the Coliseum Plaza Rent Commencement Date occurs (the "Initial Term"), unless sooner terminated or renewed as hereinafter provided and upon and subject to the covenants, agreements, terms, provisions and limitations herein set forth. Notwithstanding the foregoing or any other provision of this Lease to the contrary, in no event, for any reason whatsoever, shall the term (including renewal or extension terms, if any) of this Lease exceed forty-nine (49) years. In the event that the duration of the Initial Period, the Initial Term and all available Renewal Terms of this Lease would otherwise be more than forty-nine (49) years, then, notwithstanding any provision of this Lease to the contrary, the Initial Term shall be shortened by the number of days within the Initial Period so that the term (including renewal or extension terms, if any) of this Lease shall be effective as of the date of this Lease. The term of this Lease forty-nine (the “Lease Term”49) 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 thereofyears; provided, however, Tenant’s failure that Tenant shall, to execute and return such notice to Landlord within such time shall be conclusive upon Tenant the extent that the information set forth in such notice is scheduled expiration of the Lease Term, as specified thereinthe same may be adjusted by operation of this Section 3.1, has not previously been established by way of a supplemental agreement or certification as contemplated by Section 3.3 to adjust the Initial Term, give Landlord not less than twenty-four (24) months' Notice prior to terminating this Lease by invoking this provision. 3.2 The Lease may be renewed by Tenant for three (3) additional terms of five (5) years each (each, a "Renewal Term"; the Initial Term and the Renewal Term(s), if any, collectively being referred to as the "Lease Term") on the same terms and conditions as provided herein for the Initial Term. In addition If Tenant wishes to renew the Lease pursuant to this Section 3.2, then Tenant shall (i) not less than two (2) years prior 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 expiration of the Premises Initial Term or then effective Renewal Term, give either a non-binding Notice of an intention to exercise a renewal or a binding Notice of an exercise of a renewal and (ii) if Tenant on or before January 2provided a non-binding Notice of an intention to exercise a renewal rather than a binding Notice of an exercise of a renewal, 2015 (the “Base Rent Delivery Date”)then, in order for such renewal to be exercised, Tenant shall thereafter provide a binding Notice to Landlord of Tenant's exercise of a renewal not less than eighteen (18) months prior to the expiration of the Initial Term or the then effective Renewal Term. It shall be entitled a condition to one any Renewal Term that there be no Event of Default either (1) at the time that Tenant shall exercise its option to renew as aforesaid or (2) on the last day of per diem Base Rent abatement for each day commencing on the day after Initial Term or then effective Renewal Term hereof, as applicable, unless Landlord shall waive the Base Rent Delivery Date same. 3.3 Landlord and ending on the date Landlord so tenders possession Tenant shall, within thirty (30) days of the Premises request of either party, execute a supplemental agreement or certification setting forth, to Tenant. Any such Base Rent Abatement shall the extent then determined, the Lease Effective Date, the Lease Term Commencement Date, the scheduled expiration date for the Initial Term or any then effective Renewal Term, the commencement and expiration dates of the initial Lease Year and/or the Initial Period and/or other milestone dates under this Lease as may from time to time be separate from and in addition to any Rent Abatement described in Section 3.2 belowreasonably requested.

Appears in 1 contract

Sources: Plaza Lease

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 ▇▇▇▇▇ncement 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

Sources: Lease Agreement (Exigent International 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

Sources: Office Lease (State Communications Inc)

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 ▇▇▇▇▇ ▇▇▇▇ (the “Lease Term”▇▇▇ "▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇") 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 ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, then Landlord shall not be subject to any liability for its failure to do so▇▇▇▇▇ ▇▇▇ 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.

Appears in 1 contract

Sources: Office Lease Agreement (Tableau Software Inc)

Lease Term. The terms and provisions Subject to the remainder of this Lease shall be effective as Section 2, the initial term of Seller’s lease of the date of this Lease. The term of this Lease Zion Employees to Buyer hereunder (the “Initial Lease Term”) shall commence on the Effective Date and shall terminate upon the Fuel Removal Date. Subject to the remainder of this Section 2, the Initial Lease Term shall automatically extend thereafter until either Buyer or Seller, in their respective discretion, gives the other Party at least sixty (60) calendar days’ advance notice that the Lease Term (defined below) shall not be further extended (a “Termination Notice”). All periods after the Initial Lease Term shall be referred to herein as the “Extension Period.” The Initial Lease Term and any Extension Period shall collectively be referred to herein as the “Lease Commencement Date,Term.as that term is set forth Notwithstanding the foregoing: (a) Buyer shall not give any Termination Notice more than sixty (60) days before the end of the Initial Lease Term, and no such purported Termination Notice given by Buyer shall be of any force or effect; (b) in no event shall the Lease Term extend, with respect to any given Zion Employee, beyond the date of such Zion Employee’s termination of employment with Seller or such Zion Employee’s failure to meet the fitness for duty, qualification and performance requirements referenced in Section 3.2 1(a) above; (c) Buyer shall give not less than sixty (60) calendar days’ advance notice to Seller of the Summarycessation of Buyer’s need for a particular Management Employee or Union Employee with identified skills for which Buyer in good faith no longer has a requirement, and the Lease Term shall then end as to such particular Zion Employee(s) (but no other Zion Employees) at the conclusion of such notice period, provided further that Buyer shall continue to lease the remaining Zion Employee(s) hereunder, and shall not terminate the Lease Term as to any such Zion Employee(s), in each case prior to the Fuel Removal Date; (d) effective at any time on or following the “Lease Expiration Date,” as that term is set forth in Section 3.3 one-year anniversary of the SummaryEffective Date, unless this Seller may terminate the 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 Term in its discretion, for any reason to deliver possession of the Premises to Tenant on any specific date or no reason, then Landlord shall upon 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 less than sixty (1260) 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 calendar days’ advance 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 Buyer; and (e) notwithstanding the foregoing, subject to Seller may at any delays caused time immediately terminate the Lease Term upon a material breach of this Agreement by Tenant Buyer or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession Buyer’s Parent or upon or following termination of the Premises to Tenant on Lease Agreement (as defined in the Sale Agreement) 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 expiration or earlier termination of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and Lease Term (for this purpose, as defined in addition to any Rent Abatement described in Section 3.2 belowthe Lease Agreement).

Appears in 1 contract

Sources: Asset Sale Agreement (EnergySolutions, Inc.)

Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseApproximately seven (7) years. The term of this Lease shall commence as to each Increment (as defined below) on the earlier of (i) the date of Substantial Completion (as defined in Paragraph 4.b. hereof) of the Tenant Improvements in such Increment, or (ii) the date on which Tenant shall commence the conduct of business from such Increment or any portion thereof. The date the Lease term so commences as to each Increment is referred to herein as the "Commencement Date" for such Increment. The term of the Lease shall end on the last day of the eighty- fourth (84th) full calendar month following the first Commencement Date to occur hereunder (the “Lease Term”"Expiration Date). As used in this Lease, an "Increment" means each of (x) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 entirety 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 portion of the Premises to Tenant located on any specific date , then Landlord shall not be subject to any liability for its failure to do sothe 15th and 16th floors of the Building (the "First Increment"), and such failure (y) the entirety of the portion of the portion of the Premises located on the 14th floor of the Building (the "Second Increment"). In no event shall not affect the validity Commencement Date of the Second Increment occur prior to the Commencement Date of the First Increment, unless the Commencement Date of the Second Increment shall have occurred by reason of clause (ii) above 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 thereofParagraph 2.b.; provided, however, that -------- ------- this sentence shall not impair any deemed acceleration of the Commencement Date of either or both Increments by reason of Tenant Delays for purposes of determining the commencement of Tenant’s failure 's obligation to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that pay Monthly Rent as provided in Paragraph 5.a. below. As an additional requirement of Substantial Completion of the information set forth in such notice is as specified therein. In addition First Increment prior to the foregoingSecond Increment, subject to any delays caused by Tenant Landlord shall close-off or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of otherwise secure 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 internal stairway between such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowtwo Increments.

Appears in 1 contract

Sources: Office Lease (Bea Systems 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 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

Sources: Office Lease Agreement (IFLI Acquisition Corp.)

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 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 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, 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. 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 1 contract

Sources: Office Lease (1st Pacific Bancorp)

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 ▇▇▇▇▇ 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 ▇▇▇ Tenant to recover damages for Tenant's failure to perform its obligations, or to pay amounts due.

Appears in 1 contract

Sources: Lease Agreement (Logisticare Inc)

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 ▇▇▇▇▇▇, 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

Sources: Tangible Property Lease Agreement

Lease Term. The terms and provisions of this (a) This Lease shall be effective as continue in force during a period beginning on the 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 provided. or extended to a later day under any other term or provision hereof. (b) If by the date specified in Paragraph l(e) the Tenant hereby acknowledges that Improvements have not been substantially completed pursuant to the Premises are currently occupied Plans due to omission, delay or default by another tenant of the Building. If Landlord is unable Tenant or anyone acting under or for any reason to deliver possession of the Premises to Tenant on any specific date Tenant, then Landlord shall not be subject to any have no liability for its failure to do so, as a result of such noncompletion and such failure shall not affect the validity obligations of this Lease (including without limitation, the obligation to pay rent) shall nonetheless commence as of the Commencement Date. (c) If, however, the Tenant Improvements are not substantially completed as of the Commencement date, but not more than fifteen (15) days after the Commencement Date due to any reason other than an omission, delay or default by Tenant or someone acting under or for Tenant, then, as Tenant's sole remedy for the delay in Tenant's occupancy of the Premises, the Commencement Date shall be delayed and the rent herein provided shall not commence until the earlier to occur of actual occupancy by Tenant or completion of the Tenant Improvements. If, however, the Tenant Improvements are not substantially completed within fifteen (15) days after the Commencement Date due to any reason other than an omission, delay or default by tenant or someone acting under or for Tenant, then, as Tenant's sole remedy for the delay in Tenant's occupancy of the Premises, the commencement Date shall be delayed and the rent herein provided shall not commence until after Tenant has occupied the Premises for a number of days equal to the Delay Period. The "Delay Period" means the number of days from and including the Commencement Date to the earlier of the date the Tenant occupies the Premises or the obligations of day after the Tenant hereunderImprovements are complete. For purposes of this Lease, The Tenant Improvements will not be considered to be complete until 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 later of the information set forth therein, which date the Tenant shall execute and return to Landlord within Improvements are actually completed or ten (10) business days after a ten (10) day written notice is given to Tenant by Landlord of receipt thereof; providedthe date on which the Tenant Improvements will be completed. If Tenant is given such ten (10) day notice and the Tenant Improvements are not completed on or before the date provided in the notice, however, Tenant’s failure to execute and return such notice to Landlord within such time then an additional ten (10) days shall be conclusive upon Tenant that added to the information Delay Period after it is calculated as otherwise 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 belowthis paragraph.

Appears in 1 contract

Sources: Lease Agreement (Digimarc Corp)

Lease Term. The terms Equipment is leased for a Primary Term as defined herein, unless and provisions until the term of this Lease shall expire, be effective as of the date of this Leaseextended or be terminated pursuant to any provision hereof. The term of this Lease (the “Lease Term”) Primary Term shall commence on the “Lease Commencement Date,” and expire as that term is described in Section 1 herein, and more particularly set forth in the Rental Schedule, marked "Schedule (A)" and attached hereto. Lessee may extend the lease term of each item of Equipment for the extended term specified in Section 3.2 22 hereof, by giving Lessor written notice of Lessee's intention to so extend at least 90 days prior to the expiration of the SummaryPrimary Term and each succeeding extended term, and shall terminate on provided that at the “Lease Expiration Date,” as that term is set forth in Section 3.3 time of the Summary, unless this Lease giving of such notice no Event of Default has occurred and is continuing and provided that the lease term of such item of Equipment has not been sooner terminated as hereinafter providedaforesaid. Tenant Lessee hereby acknowledges that authorizes Lessor to insert the Premises are currently occupied Lease Commencement Date for an item of Equipment on the Rental Schedule therefor when such item has been accepted by another tenant of the BuildingLessee for lease hereunder. 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 The words "lease term" as used in this Lease or the obligations of Tenant hereunder. For shall, for all purposes of this Lease, and unless the context otherwise requires, be deemed to include each extended term referred to in Section 22. (a) This Lease Year” is a net lease and Lessor shall mean invoice Lessee for the amount of 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 Basic Rent payment set forth in Exhibit Cthe Rental Schedule no earlier than thirty (30) days prior to the specified payment date therefor, attached heretoand Lessee shall pay to Lessor within thirty (30) days following receipt of Lessor's invoice, such amount set forth in the Rental Schedule at Lessor's address set forth above, or at such other address or to such other person or entity as a confirmation only Lessor, from time to time, may designate in writing. (b) Lessee shall also pay to Lessor, in lawful money of the information set forth thereinUnited States, all amounts which Tenant Lessee is required to pay pursuant to this lease (other than Basic Rent) together with every fine, penalty, interest and cost which may be added for non-payment or late payment thereof. Such amounts shall execute constitute additional rent. If Lessee shall fail to pay any additional rent, Lessor shall have the right to pay the same and return shall have all rights, powers and remedies with respect thereto as are provided herein or by law in the case of nonpayment of Basic Rent. Lessee shall pay to Landlord within Lessor interest at two and a half percent (2 1/2%) plus the Prime Interest Rate per annum which shall be defined as the best rate then charged by The Chase Manhattan Bank of New York for loans to substantial commercial borrowers, or the maximum per annum rate permitted by law on all overdue Basic Rent from ten (10) business days following Lessee's receipt of receipt thereof; providedLessor's written notice of non-payment until paid, 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 on all overdue additional rent paid by Tenant or any Tenant Parties and events Lessor on behalf 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 Lessee from the date Landlord so tenders possession of the Premises to Tenantpayment by Lessor until repaid by Lessee. Any such Base Lessee shall perform all its obligations under this Lease at its sole cost and expense, and shall pay all Basic Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowadditional rent when due, without further notice or demand.

Appears in 1 contract

Sources: Master Equipment Lease Agreement (American Income Partners v a LTD Partnership)

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 As used in this Lease, the Premises are currently occupied by another tenant of the Building. If Landlord is unable for term “Lease Term” shall include any reason extension term pursuant 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 Section 2.2 below or the obligations of Tenant hereunderotherwise. For purposes of this Lease, the term "Lease Year" shall mean each consecutive twelve (12) month period during the Lease Term; provided if the Lease Commencement Date shall be other than the first day of a calendar month, the first Lease Year shall include the partial month during which the Lease Commencement Date occurs plus the immediately following consecutive twelve (12) month period. At any time during Within the first one hundred twenty (120) days of the Lease Term, Landlord may shall 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 fifteen (1015) 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 thereof assuming the information set forth in such notice same is as specified thereinfactually correct. 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 Ready for Occupancy, (1) on or before January 31, 2020, then, as Tenant’s sole remedy for such delay (except as set forth in subsections (2, 2015 ) and (the “Base Rent Delivery Date”3) below), Tenant shall be entitled to one (1) day of per diem Base abatement of Rent for every two (2) days that the delivery date is delayed beyond such date (which abatement shall be in addition to the abatement set forth in Section 4 of the Summary), (2) on or before February 29, 2020, then, as Tenant’s sole remedy for such delay (except as set forth in subsection (3) below), Tenant shall be entitled to one (1) day of abatement of Rent for each day commencing on that the day after the Base Rent Delivery Date and ending on the delivery date Landlord so tenders possession of the Premises to Tenant. Any is delayed beyond such Base Rent Abatement date (which abatement shall be separate from and in addition to any Rent Abatement described the abatement set forth in Section 3.2 below4 of the Summary), or (3) March 31, 2020, then, as Tenant’s sole remedy for such delay (except as set forth in subsections (1) and (2) above), 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 and the parties shall be relieved of all obligations under this Lease. The foregoing dates in subsections (1), (2) and (3) shall be extended to the extent of any delays in delivery of possession caused by (i) Tenant Delay, as that term is defined in Section 1(j) of the Tenant Work Letter, and the foregoing date in subsection (3) shall be extended to the extent of any delays in delivery of possession caused by “Unavoidable Delays”, as that term is defined in Section 1(l) of the Tenant Work Letter (provided that any such delay due to Unavoidable Delays shall not extend such date by more than forty five (45) days in the aggregate). If Landlord contends that a delay in delivery of possession due to Unavoidable Delays has occurred, Landlord shall notify Tenant in writing of the event that constitutes Unavoidable Delay and the date upon which the Unavoidable Delay is anticipated to end, and the delay due to Unavoidable Delay shall not be deemed to have occurred until the date of Tenant’s receipt of such notice. Landlord shall use commercially reasonable efforts to mitigate any Unavoidable Delay.

Appears in 1 contract

Sources: Lease (Unity Biotechnology, Inc.)

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).

Appears in 1 contract

Sources: Office Lease Agreement (Ascendant Solutions Inc)

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

Sources: Office Lease (Venture Catalyst Inc)

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

Sources: Lease Agreement (Human Genome Sciences Inc)

Lease Term. The terms and provisions of this 3.1 This Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence continue in force during a period beginning on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate terminating 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 of this Lease. Tenant shall be permitted entry to the Premises four (4) weeks prior to the anticipated Commencement Date for the purpose of installing its fixtures and equipment and performing such other work as is necessary to prepare the Premises for occupancy. This early entry will be at Tenant’s sole risk and subject to all the terms and provisions of this Lease as though the Commencement Date had occurred, except for the payment of rent, which will commence on the Commencement Date. Tenant, and its contractors, agents and employees will not materially interfere with or delay the construction of the Tenant Improvements. All rights of Tenant under this Section 3.1 will be subject to the requirements of all applicable building codes, zoning requirements, and federal, state and local laws, rules, and regulations, and shall not interfere with Landlord’s compliance with laws, including the obtaining of a certificate of occupancy or completion, as applicable for the Premises. 3.2 Provided that the Final Plans (as defined in the Work Letter) (with all final finishes) for the Tenant Improvements are approved by Landlord and Tenant, and in form complete for the purpose of bidding and obtaining a building permit, on or before May 15, 2003, Landlord reasonably believes that the Tenant Improvements (excluding the Tenant Improvements in the First Floor Space) will be substantially completed on or before August 21, 2003. If the Tenant Improvements have not been Substantially Completed by August 21, 2003, Landlord shall have no liability of any kind whatsoever therefor, and the Commencement Date shall be deferred and determined in accordance with Section 1.5 of this Lease. Notwithstanding the foregoing, if Substantial Completion of the Tenant Improvements is delayed by a Tenant Delay (as defined in Subparagraph 3.3), the Commencement Date shall be the date on which Substantial Completion would have occurred but for the Tenant Delay. 3.3 Notwithstanding anything to the contrary contained in Section 3.2, and provided that, on or before May 15, 2003, (i) the Final Plans (as defined in the Work Letter) (with all final finishes) for the Tenant Improvements are approved by Landlord and Tenant, and in form complete for the purpose of bidding and obtaining a building permit, and (ii) Tenant has waived, in writing, its termination right set forth in Section 3.5 below, then, if the Tenant Improvements (excluding the Tenant Improvements in the First Floor Space) have not been Substantially Completed by September 21, 2003, as such date shall be extended by the period of any delay caused by Tenant Delay (as hereinafter provided. defined) or a force majeure event (as described in Section 34 below) (such date, as it may be so extended, the “Outside Date”), then Tenant, as its sole and exclusive remedy, shall receive, in addition to the scheduled rent abatement described in Sections 1.3 and 5.4, Tenant hereby acknowledges shall receive two days of abatement of Base Rent and Tenant’s obligation to pay Tenant’s Proportionate Share in increases in Operating Expenses for each day past the Outside Date that the Premises are currently occupied by another tenant of the Buildingnot Ready for Occupancy. If Landlord is unable for any reason to deliver possession of the Premises to As used herein, a “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 YearDelay” 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 delay in the form as set forth in Exhibit C, attached hereto, as a confirmation only substantial completion of the information set forth thereinTenant Improvements caused by any act or omission of Tenant or any of its agents, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; providedemployees or contractors, howeverincluding, without limitation, Tenant’s failure to execute timely provide information reasonably requested by Landlord in order to prepare the space plan or construction drawings, Tenant’s failure to timely review and return such notice comment upon the proposed space plan or construction drawings, Tenant’s request for changes to the final, approved construction drawings, Tenant’s request for “long lead items” (meaning, items which, due to their unique nature, require long manufacturing or delivery times and are not readily available in a time frame consistent with the construction schedule for the Tenant Improvements; Landlord within such will advise Tenant of the existence of long lead items at the time shall be conclusive upon of Landlord’s review of the plans or drawings in question), interference by Tenant that or its agents, contractors or employees with Landlord’s performance of the information Tenant Improvements, and Tenant’s failure on or before May 15, 2003, to waive its termination right 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 3.5 below.

Appears in 1 contract

Sources: Lease Agreement (Tandem Health Care, Inc.)

Lease Term. The terms and provisions of this Lease shall be effective as of primary term (the date of this Lease. The term "Primary Term") of this Lease (the “Lease Term”a) shall commence on the “Lease date (the "Commencement Date,” as that term ") which is set forth the later to occur of (i) February 15, 2005 or (ii) the date upon which LESSOR substantially completes LESSOR'S Work and delivers the Premises to LESSEE in Section 3.2 substantially the condition required herein and (b) shall end at midnight on the last day of the Summary, and twentieth (20th) Lease Year (as defined below) following the Commencement Date. The Primary Term shall terminate consist of a preliminary term (the "Preliminary Term") commencing on the “Lease Expiration Date,” as that term is set forth in Section 3.3 Commencement Date and ending at midnight on the last day of the Summary, unless this third (3rd) Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that Year and a new term (the Premises are currently occupied by another tenant "New Term") commencing on the New Term Commencement Date and ending upon the expiration of the BuildingPrimary Term. If Landlord is unable Notwithstanding anything to the contrary contained herein, (a) in the event the Commencement Date has not occurred by February 15, 2005, Lessee shall receive two (2) days free rent for any reason each day after February 15, 2005 until the Commencement Date occurs and (b) in the event the Commencement Date has not occurred by March 1, 2005, LESSEE shall have the right to deliver extend the Commencement Date to November 1, 2005, in which event the free rent in (a) above shall be limited to a total of twenty-six (26) days. In the event LESSEE accepts possession of the Premises prior to Tenant on any specific February 15, 2005, the Commencement Date shall be the date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect upon which the validity of this Lease or the obligations of Tenant hereunderLESSEE accepts possession. For purposes of this Lease, the term “a "Lease Year" shall mean each be defined as those consecutive twelve (12) month period periods 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 Primary Term 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 Extension Term (the “Base Rent Delivery Date”as defined below), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day with the first Lease Year commencing on the day after the Base Rent Delivery Commencement Date and ending each subsequent Lease Year commencing on the date Landlord so tenders possession annual anniversary thereof. Upon the establishment of the Premises Commencement Date, LESSOR and LESSEE shall execute a form of Commencement Agreement acknowledging and agreeing to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowthe Commencement Date.

Appears in 1 contract

Sources: Lease Agreement (Affinity Group Holding, Inc.)

Lease Term. The terms This Lease will be in effect and provisions continue in force during a period beginning on the Effective Date of this Lease shall be effective as and ending on the expiration of the Term, unless this Lease is terminated early or extended to a later date pursuant to the terms of this Lease. The term Term of this Lease shall commence and Rent will accrue beginning on the date ("Commencement Date") which shall be October 1, 2016, subject to postponement due to Landlord Delays (defined below) as provided below, and the Term of this Lease will expire on a date (the “Lease Term”"Expiration Date") shall commence on that corresponds to the “Lease number of full calendar months after the Commencement Date,” as that term is Date 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 Summary1.3, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that in accordance with 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 provisions of this Lease, it being understood that this Lease terminates on the term “Lease Year” last day of the applicable calendar month. In the event of Landlord Delays, the Commencement Date shall mean each consecutive twelve (12) month period during be postponed by an amount of time equal to the Lease Term. At length of any time during Landlord Delays to the Lease Term, extent such Landlord may deliver to Tenant a notice Delays actually caused delays in the form as set forth in Exhibit C, attached hereto, as a confirmation only completion of the information set forth thereinTenant Improvements beyond October 1, which Tenant shall execute and return 2016. Notwithstanding anything 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 contrary contained in such notice is as specified therein. In addition to the foregoing, if Tenant completes the Tenant Improvements and receives a Certificate of Occupancy prior to the Commencement Date, Tenant may have beneficial occupancy of the Premises prior to the Commencement Date subject to the terms and conditions of this Lease except that Tenant shall not be obligated to pay Base Rental or Building Operating Costs for any such occupancy prior to the Commencement Date but Tenant shall be obligated to pay Energy Costs. "Landlord Delays" shall mean, for purposes hereof, any delays caused by acts or omissions to act, negligence or willful misconduct of Landlord or any of Landlord's employees, agents, contractors or representatives, but in no event delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails delays due 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 belowforce majeure.

Appears in 1 contract

Sources: Office Lease Agreement (Jamba, Inc.)

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 continuing thereafter through and until 6:00 p.m. on the last day of the month in which the Expiration Date occurs. (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 date the Commencement Date with the Improvements described in Paragraph 2 of Exhibit B substantially completed, 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 ▇▇▇▇▇ until the date when Landlord does deliver possession in accordance with the terms and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes requirements of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during and the Lease TermTerm shall commence on the date when possession is delivered to Tenant, and in such event the Expiration Date shall occur on the last day of the month that is five (5) years following the date on which the Commencement Date actually occurs. At any time during Notwithstanding the Lease Termforegoing, Landlord may deliver to Tenant a notice however, in the form as set forth in Exhibit C, attached hereto, as a confirmation only event that Landlord does not deliver possession of the information set forth thereinPremises to Tenant, which with the Improvements described in Paragraph 2 of Exhibit B hereof substantially completed, within one hundred fifty (150) days after the date this Lease has been executed by Landlord and Tenant, then Tenant shall execute and return may, at its option, by written notice to Landlord within ten not later than five (105) business days after the expiration of receipt thereof; providedsuch one hundred fifty (150) day period, cancel this Lease, in which event Landlord and Tenant shall each be discharged from their obligations hereunder. Such one hundred fifty (150) day period shall be extended on a day for day basis, 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 for any delays caused by Tenant including, without limitation, any delays caused by any changes to the work described in Paragraph 2 of Exhibit B which are caused by Tenant, or any Tenant Parties and events delays caused by Tenant’s early entry under the terms of Force Majeure, if subparagraph (e) hereof. (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 elect to terminate this Lease, such termination shall be without prejudice to Landlord’s right to ▇▇▇ Tenant to recover damages for Tenant’s failure to perform its obligations, or to pay amounts due. (e) Landlord shall permit Tenant to enter the Premises at least two (2) weeks prior to the Commencement Date for the purpose of installing Tenant’s systems furniture and low voltage wiring. Tenant’s entry shall be subject to each of the Premises terms and conditions of this Lease except Tenant’s obligation to Tenantpay Base Rental and Basic Costs shall not commence until the Commencement Date. Any installations made by Tenant during such Base Rent Abatement period shall be separate from at Tenant’s risk, and in addition Landlord shall not be liable for any loss or damage thereto. Tenant’s entry shall not be permitted to any Rent Abatement described in Section 3.2 belowinterfere with or delay Landlord’s construction of the Improvements.

Appears in 1 contract

Sources: Lease Agreement (Danger 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 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

Sources: Office Lease (Forrester Research, Inc.)