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”) 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”) 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 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 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 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 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 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 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 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 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 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 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 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. 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 and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided. Landlord shall endeavor to provide access to the Premises following vacation of the Premises by the existing Tenant, howeverwhich Landlord anticipates will be March 1, Tenant’s failure 2020. Notwithstanding that such delivery shall occur prior to execute and return such notice the Lease Commencement date, Landlord hereby acknowledges that Tenant shall not be obligated to Landlord within such time shall be conclusive upon Tenant that commence paying Rent under this Lease until the information set forth in such notice is as specified thereinLease Commencement Date. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders has not delivered possession of the Premises to Tenant. Any , (1) on or May 1, 2020, then, as Tenant's sole remedy for such Base Rent Abatement delay, the date Tenant is otherwise obligated to commence payment of shall be separate from and delayed by one day for each day that the delivery date is delayed beyond May 1, 2020, or (2) August 1, 2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be reimbursed to Tenant. The foregoing dates shall be extended to the extent of any delays in addition delivery of possession caused by war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any Rent Abatement described in Section 3.2 belowaction or inaction of Landlord (provided that any such delay shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Lease Term. (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 (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 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”) 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 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 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 (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 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
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 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 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 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. 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. Tenant hereby acknowledges that or extended to a later date under any other term or provision hereof.
(b) If the Premises are currently occupied not available and Ready for Occupancy by another tenant the date specified in Paragraph 1(d) hereof due to omission, delay or default by Tenant or anyone acting under or for Tenant, Landlord shall have no liability; and the obligations of Tenant under this Lease (including, without limitation, the obligation to pay Rent) shall nonetheless commence as of the Building. If Commencement Date.
(c) If, however, this Lease is executed before the Premises become vacant or otherwise available and Ready for Occupancy and/or any present tenant or occupant of the Premises holds over and/or Landlord is unable for any reason to cannot deliver possession of the Premises prior to Tenant the date specified in Paragraph 1(d) hereof due to default on any specific date the part of Landlord, then Landlord 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 be subject commence until the earlier 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 occur of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days date 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 actual occupancy by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the date on which 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 are available and Ready 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 belowOccupancy.
Appears in 2 contracts
Sources: Office Lease Agreement (Benz Energy LTD /Can/), Office Lease Agreement (Fortune Petroleum 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
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. 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 5.1 of the Summary, shall commence on the date which is the earlier to occur of (i) the date Tenant occupies the Premises, or (ii) the date the Premises is Ready for Occupancy, as that term is defined in this Article 2, of the Premises by Landlord (“Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary”), and shall terminate on the date set forth in Section 7.4 of the Summary (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, ”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean 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, and if applicable, “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, 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: Office Lease (Accelrys, Inc.)
Lease Term. 2.1 The terms lease term is 5 years, from May 1, 2010 to April 30, 2015. The calculation of rent starts on May 1, 2010.
2.2 Within 3 months before expiration of the Lease term, the Lessor is entitled to send a written notice to the Lessee and provisions inquire about the Lessee’s intent of renewal. If the Lessee fails to express the intent to renew the Lease in written form within 10 days after the Lessor sends the above mentioned written notice, the Lessee is deemed to have waived renewal. If the Lessee responds with the intent to renew the Lease, the parties shall negotiate on the renewal. The Lessee enjoys priority in renewing the Lease under the same conditions. However, if the parties fail to reach an agreement regarding the Lease renewal 30 days prior to the expiration date of the Lease term, regardless of any reasons whatsoever, the Lessee is regarded to have waived renewal and the Lessor can enter into lease agreement with any third party.
2.3 Upon expiration of the Lease term, in absence of the Lessee’s express intent to renew the Lease in written form within 10 days after the Lessor sends the above mentioned written notice, or that the Lessee has expressly refused lease renewal, if the Lessee fails to surrender the Leased Premise in accordance with the Lease, a compensation in the amount of 3 times of the daily rent under this Lease per every delay day, shall be effective as paid to the Lessor.
2.4 On the Lease expiration date or termination date, the Lessee shall surrender the Leased Premise to the Lessor, along with all the facilities set out in the hand over list (see Exhibit 2) and any accessio or improvement made to the Leased Premise. Moreover, the Lessor shall surrender the Leased Premise in its good and ready to be re-leased condition (Normal wears and tear and inherent defects are excluded).
2.4.1 Before surrendering the Leased Premise, the Lessee shall empty the Leased Premise, remove all the movables (except for those owned by the Lessor and those that the Lessor is responsible for), fix and repair all the damages made to the Leased Premise, all at the lessee’s expense.
2.4.2 The Lessee shall return to the Lessor all the keys and devices used for entering the Leased Premise, and remove, at the Lessee’s expense, any doors, walls or any signs or designation attached to the windows in the Leased Premise. Any personal properties or movables of the Lessee, that remain in the Leased Premise after the expiry of final surrender date designated by the Lessor, will be considered disposed, and will be kept as properties of this Leasethe Lessor or disposed of in any other manners. The term of this Lease (Lessee’s inaction to dispose or remove the “Lease Term”) forgoing properties and movables shall commence on constitute the “Lease Commencement Date,” as that term is set forth in Section 3.2 Lessee’s disposal of the Summary, and shall terminate on forgoing properties or movables.
2.4.3 Upon the “Lease Expiration Date,” as that term is set forth in Section 3.3 surrender of the SummaryLeased Premise, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of parties shall make inspections together to determine whether the Buildingforgoing obligations have been fulfilled. If Landlord the Lessee fails to remove all the movables in accordance with the forgoing clauses, or fails to repair any damages to the Leased properties, the Lessor is unable for any reason entitled to deliver possession of (but not obliged) to perform the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure forgoing obligations or hire a third party to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time expense arises therefrom shall be conclusive upon Tenant that borne by the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLessee.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before October 1, 2019, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Sources: Lease (Harpoon Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date and expire as of midnight on the last day of the fiftieth (50th) calendar year following the Commencement Date,” , as such Lease Term may be extended pursuant to this Section 5, unless and until earlier terminated pursuant to any provision of this Lease. Provided there is no continuing Tenant Default hereunder, Tenant shall have two (2) options to extend the Lease Term (each a “Renewal Option”) for a period of ten (10) years each (each a “Renewal Term”), provided that with respect to each such Renewal Option, Tenant delivers written notice to Landlord of Tenant’s exercise of such Renewal Option at least one hundred eighty (180) days but not more than five (5) years prior to the expiration of the then current Lease Term (as it may be extended). Notwithstanding anything herein to the contrary, Tenant shall have no right to exercise a Renewal Option unless at the time such Renewal Option is exercised, the Facility (excluding any portion of the Facility that is part of the Mixed-Use Component (as that term is defined in the Development Agreement)) is at least seventy-five percent (75%) occupied. If executed on time and in the manner required under this Lease, the applicable Renewal Term shall be deemed part of the Lease Term and shall be on the same terms and conditions as set forth in Section 3.2 this Lease. Use by Tenant of Facility. Subject to 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 provisions of this Lease, including without limitation, Section 11 hereof with respect to Landlord Events and without limiting the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during provisions of Section 7 hereof with respect to Operating Rights and Authority, throughout 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 have the exclusive right to use, occupy, manage, sublease and return license and operate (and, subject to Landlord within ten the provisions of this Lease, authorize others to use, occupy, manage and operate) the Facility Premises for any lawful purpose, including (10i) business concerts, sporting event watch parties, speaking engagements, conventions and similar events authorized by Tenant, (ii) subject to any scheduling requirements of this Lease, staging hospitality events, including on days of receipt thereofin which there are events at the Stadium, the Amphitheater and/or the Covered Flex Field, (iii) conducting promotional, community and public relations activities, (iv) storing equipment and supplies in designated storage areas, (v) conducting entertainment and cultural events, (vi) hosting meetings, banquets and other catered events and (vii) conducting retail, restaurant, bar and entertainment and service businesses or subleasing or licensing to others to conduct such businesses; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time that Tenant shall be conclusive upon Tenant that not use or permit the information use of the Facility Premises for any use set forth in such notice is as specified thereinon Exhibit B attached hereto and incorporated herein by this reference (the “Prohibited Uses”). In addition Subject to the foregoing, subject Tenant shall have the exclusive right to use, occupy, manage and operate (and authorize others to use, occupy, manage and operate) the Exclusive Areas. Tenant agrees to comply and be in compliance at all times in all material respects with such Governmental Requirements as are applicable to the Facility and/or any delays caused by Tenant LED Screen, including, without limitation, the Facility LED Screens and the Ancillary LED Screens or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession its use or operation of the Premises Facility and/or any LED Screen, including, without limitation, the Facility LED Screens and the Ancillary LED Screens. Tenant shall have the right, at its sole cost and expense, to Tenant on contest the validity of any such Governmental Requirements or before January 2, 2015 (the “Base Rent Delivery Date”), application thereof. Any such proceeding instituted by Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day commenced as soon as is reasonably practicable after the Base Rent Delivery Date and ending on the date Landlord so tenders possession arising of any such contested matters, or after notice (actual or constructive) to Tenant of the Premises applicability of such matters to Tenant. Any such Base Rent Abatement the Facility and shall be separate from prosecuted to final adjudication with reasonable dispatch. Upon Tenant’s request, Landlord shall, at Tenant’s sole cost and expense, reasonably cooperate in addition to any Rent Abatement described in Section 3.2 belowsuch proceeding brought by Tenant, provided Landlord reasonably agrees with Tenant’s basis for contest.
Appears in 1 contract
Sources: Lease Agreement
Lease Term. (a) The terms and provisions of this Lease shall be effective as Term begins on the earliest to occur of: (1) the date Tenant occupies any part of the date of this Lease. The term of this Lease Leased Premises; (2) the “Lease Term”Commencement Date; or (3) shall commence the Ready for Occupancy Date (defined below); and ends on the “Expiration Date. Notwithstanding the foregoing, if the Ready for Occupancy Date occurs before May 22, 1998, then the Lease Commencement Date,” as that term is set forth in Section 3.2 Term shall begin on the earlier of (i) the date Tenant occupies any part of the SummaryLease Premises or May 25, 1998, and if the Ready for Occupancy Date occurs on or after May 25, 1998 and before July 3, 1998, then the Lease Term shall terminate begin on the “Lease Expiration Date,” as that term is set forth in Section 3.3 earlier of (i) the date Tenant occupies any part of the SummaryLease Premises, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that or (ii) July 3, 1998.
(b) Subject to Paragraph 3(c) below, if the Premises are currently occupied Ready for Occupancy Date does not occur by another tenant of the Building. If Landlord is unable Commencement Date for any reason to deliver possession of the Premises to other than omission, delay, or default by any Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, howeverParty, Tenant’s failure 's obligation to execute pay Rent does not commence until the Ready For Occupancy Date occurs and return such notice to Landlord within such the Expiration Date is extended for a period of time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition equal to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing time period beginning on the day after the Base Rent Delivery Commencement Date and ending on the day before the Ready for Occupancy Date. This abatement of Rent is Tenant's sole and exclusive remedy and is full settlement of all claims that Tenant has against Landlord by reason of the Leased Premises not being ready for occupancy by Tenant on the Commencement Date.
(c) If Tenant occupies any part of the Leased Premises before the Commencement Date or the Ready for Occupancy Date, as applicable, the Lease Term and Tenant's obligation to pay Rent commence on the date Landlord so tenders Tenant occupies the Leased Premises and the Expiration Date is 126 months after the date on which Tenant's occupancy commences. Tenant is deemed to occupy the Leased Premises when Tenant takes possession of any part of the Leased Premises for any purpose, including placing furniture and installing Tenant's equipment in the Leased Premises.
(d) When the first day of the Lease Term is established pursuant to Tenant. Any such Base Rent Abatement this ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ shall be separate from prepare and Landlord and Tenant shall exchange a letter acknowledging that date and, if the Expiration Date changes under this Paragraph, the Expiration Date.
(e) The READY FOR OCCUPANCY DATE is the earlier to occur of:
(1) the date that Landlord notifies Tenant that the City of Dallas has approved the Leased Premises for occupancy; or
(2) the date the City of Dallas would have approved the Leased Premises for occupancy but for delays caused by any Tenant Party; provided, if Landlord performs any Additional Work (defined in addition to any Rent Abatement described EXHIBIT F), the Ready for Occupancy Date is deemed accelerated by the number of days in Section 3.2 belowthe Additional Work Period (defined in EXHIBIT F).
Appears in 1 contract
Sources: Office Lease (Penson Worldwide 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 initial term of this Lease will be for a period of ten years (the “Lease Term”) shall commence "INITIAL LEASE TERM"), commencing on the “date ("COMMENCEMENT DATE") which is the later of: (a) May 1, 1997; or (b) the 46th day after the substantial completion of the Improvements. The Initial Lease Term will end on the tenth anniversary of the Commencement Date,” as that term . Notwithstanding anything to the contrary contained herein, if the substantial completion of the Improvements is delayed beyond the targeted substantial completion date set forth in Section 3.2 /section/4, above, as a result of any Tenant-caused Delay Event (meaning any of those Delay Events specified in subparagraphs (d) through (h) in /section/4), then the Commencement Date of the SummaryInitial Lease Term will be deemed to be the later of May 1, 1997 or the date which, but for the occurrence of such Tenant-caused Delay Event, would have been the Commencement Date within the meaning of the first sentence of this /section/5, and shall terminate on the “Lease Expiration Date,” as that term is from and after such date, Tenant will be obligated to pay Base Rent and all Operating Expenses and otherwise perform all of its other obligations and duties set forth in Section 3.3 this Lease. Tenant will have an option to extend the Lease Term for up to three consecutive renewal terms of five years each. Tenant's right to exercise its option with respect to any such renewal term will be expressly conditioned upon both of the Summary, unless this Lease is sooner terminated as hereinafter provided. following conditions being satisfied with respect to each such renewal term: (a) Tenant hereby acknowledges that must give written notice to Landlord of its election to exercise its option with respect to such renewal term at least 180 days prior to the Premises are currently occupied by another tenant scheduled commencement date of such renewal term; and (b) on the date of the Buildingexercise of such option and on the scheduled date for the commencement of such renewal term, the Lease must be in full force and effect without any material default by Tenant thereunder. If Landlord is unable for any reason to deliver possession Tenant's occupancy of the Premises to Tenant on Property during any specific date , then Landlord shall not such renewal term will be subject to any liability for upon the same terms and conditions which govern its failure to do so, and such failure shall not affect occupancy of the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period Property during the Lease Term. At any time during the Initial Lease Term, Landlord may deliver except that the Base Rent payable during each such renewal term will be as provided in /section/6. All references in this Lease to the "LEASE TERM" will include the Initial Lease Term and any renewal term exercised by Tenant a notice in pursuant to this /section/5. Tenant will have the form as set forth in Exhibit Cright, attached heretoif it so elects, as a confirmation only to occupy the Building (or any part thereof) during the period after substantial completion of the information set forth thereinImprovements and prior to the Commencement Date ("EARLY OCCUPANCY PERIOD"), which Tenant shall execute and return without having any obligation to Landlord within ten (10) business days of receipt thereofpay any Base Rent; provided, however, Tenant’s failure that Tenant will be obligated to execute and return pay all Operating Expenses accruing during such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition Early Occupancy Period with respect to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession part of the Premises Building which it so occupies and will otherwise be required throughout the Early Occupancy Period to perform all of its other duties and obligations under this Lease with respect to the portion of the Building which it so occupies. Tenant on or before January 2will have the right during the Early Occupancy Period to install its telephone and computer equipment, 2015 (the “Base Rent Delivery Date”)furniture and work stations and pursue other pre-occupancy tasks. As of even date herewith, Tenant shall and HIBC Development Company have entered into an Expansion Agreement, which contemplates that, under certain circumstances, the initial Lease Term will be entitled extended to one (1) day become co-terminus with the termination date of per diem Base Rent abatement Tenant's leasing of an additional building to be constructed by HIBC Development Company for each day commencing on Tenant. The terms and conditions of any such extension of the day after initial Lease Term hereunder and the Base Rent Delivery Date and ending on payable by Tenant during any such extension period will be governed by the date Landlord so tenders possession terms of the Premises aforementioned Expansion Agreement. In the event that Tenant decides to Tenantinvoke its expansion rights under the Expansion Agreement and the initial Lease Term hereunder is thereby extended, Landlord will be obligated to pay Properties Atlantic, Inc. a brokerage commission upon any such extension of the initial Lease Term in an amount equal to $3.00 per rentable square foot contained within the Building, multiplied by a fraction which has as its numerator the number of full or partial years by which the initial Lease Term is extended and which has as its denominator ten years. Any such Base Rent Abatement shall commission will be separate from and payable in addition to any Rent Abatement described in Section 3.2 belowfull upon the parties' full execution of the document so extending the initial Lease Term.
Appears in 1 contract
Sources: Lease Agreement (Hte Inc)
Lease Term. 6.1. The terms and provisions Lessee may not shorten the Lease Term or terminate the Lease Agreement prior to the end of this the Lease Term.
6.2. At the conclusion of the Lease Term, the Lease Term shall be effective as of automatically extended for the date of this Lease. The term of this Lease (the “Additional Lease Term”) shall commence on the “Lease Commencement Date,” , as that term is it may be (three years or one year), as set forth in Section 3.2 Appendix A, all unless the Lessee provides the Lessor with at least 120 days’ written notice prior to the end of the SummaryLease Term of its desire not to extend the Lease Term for the Additional Lease Term (hereinafter, “Notice of Non-Exercise”). If no such Notice of Non-Exercise is given, the Lessee shall be deemed to have exercised the Additional Lease Term.
6.2.1. Quarterly post-dated checks and/or a valid bank debit order ("standing order") for the payment of the Base Rent and shall terminate on advanced payments of the “management fees for the Additional Lease Expiration Date,” Term in the amount the Base Rent and advance payments of the management fees were determined to be during the Additional Lease Term, as that term is set forth stated hereinbelow, plus linkage differentials and VAT;
6.2.2. Completion of the cash deposit amount as stated in Section 3.3 20.1.1 below;
6.2.3. Certificate of insurance in accordance with this Agreement, including for the Summary, unless this relevant Additional Lease is sooner terminated as hereinafter providedTerm. Tenant hereby acknowledges that The foregoing shall be no later than thirty days prior to the Premises are currently occupied by another tenant end of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At In the event the Lessee fails to provide any time during of the foregoing by no later than 30 days before the end of the Lease Term, Landlord this shall be deemed a fundamental breach of the Agreement. For the avoidance of doubt, the foregoing will not preclude the Lessee from exercising its right to extend the Lease Term for an Additional Lease Term, except if it fails to remedy the breach and does not produce the documents required, as stated above, within 7 days of receiving written notice from the Lessor.
6.3. Without derogating from the Lessee’s rights and remedies under this Agreement and applicable law, the Lessor may deliver provide the Lessee written notice 30 days prior to Tenant a notice in the form end of the Lease Term of the cancellation of the Additional Lease Term as set forth in Exhibit CAppendix A, attached heretoif the following condition is met:
6.3.1. The Lessee breaches any of its fundamental undertakings toward the Lessor and fails to remedy them within 7 days of receiving written notice;
6.4. To the extent the Lease Term is so extended, as a confirmation only all the provisions of this Agreement shall also apply to the relevant Additional Lease Term.
6.5. Notwithstanding the provisions of Section 6.4, in each of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after Additional Lease Terms the Base Rent Delivery Date and ending on shall be increased as follows: The Base Rent in the date Landlord so tenders possession first quarter of the Premises to Tenant. Any such Base Rent Abatement relevant Additional Lease Term shall be separate from equal to that in the last quarter of the preceding Lease Term (including linkage differentials) plus the percentage provided in Appendix A.
6.6. Notwithstanding anything stated in this Agreement and/or its appendices, the Lessor may early terminate the Lease Agreement upon 6 (six) months’ prior written notice if a lawful final and peremptory demand is issued by an authority which effectively precludes the use of the Leased Premises in addition accordance with the Lease Purpose. In such case, the Lessee will not have any claim and/or demand against the Lessor for the shortening of the Lease Term with the exception of the Lessee’s right to any Rent Abatement described in Section 3.2 “eviction compensation" as defined below.
Appears in 1 contract
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 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 Lease (a) Notwithstanding anything to the contrary contained in the Sublease Agreement, the Sublease Commencement Date shall be effective as of the date of this LeaseOctober 1, 2001. The term of this Lease applicable to the Additional Sublease Premises only (the “Lease "Additional Sublease Premises Term”") shall commence on the “Lease Commencement Date,” as date that term is set forth in Section 3.2 of Landlord consents to this First Amendment and Sublandlord vacates the SummaryAdditional Sublease Premises and notifies Subtenant thereof, and the Additional Sublease Premises Term shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summaryend, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the provided herein, on December 31, 2001 ("Additional Sublease Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12Expiration Date") month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure that in the event Sublandlord shall have failed to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that vacate the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Additional Sublease Premises to Tenant on or before January 2November 15, 2015 2001 or Landlord shall have failed to consent to this First Amendment on or before November 15, 2001, then Subtenant shall have the right to terminate this First Amendment upon written notice to Sublandlord. Sublandlord will remove all of its moveable personal property from the Additional Sublease Premises prior to vacating the same.
(b) If Sublandlord vacates the “Base Rent Delivery Date”)Additional Sublease premises on or before October 24, Tenant shall be entitled 2001, Subtenant will reimburse Sublandlord up to one ($15,000 of Sublandlord's reasonable expenses incurred in connection therewith. If Sublandlord vacates the Additional Sublease Premises after October 24, 2001 but on or before November 1) day , 2001, Subtenant will reimburse Sublandlord up to $10,000 of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to TenantSublandlord's reasonable expenses incurred in connection therewith. Any reimbursement of expenses required under this section 3(b) will be paid to Sublandlord within twenty (20) days after Subtenant's receipt of a statement from Sublandlord setting forth such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowexpenses.
Appears in 1 contract
Lease Term. 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 ▇▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇’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 ▇▇▇▇▇▇ takes occupancy, is transferred, ceases to be enrolled at any school in the form as set forth in Exhibit Carea, attached hereto, as is no longer a confirmation only resident of the information set forth thereinarea or, which Tenant for any other reason, is unable to continue occupying the Residence. Accordingly, ▇▇▇▇▇▇’s obligation to pay Rent hereunder (and the Guarantor(s) obligation to ensure payment of the same) shall execute continue for the entire Lease Term and return until all sums due to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfull.
Appears in 1 contract
Sources: Rental Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The execution and delivery hereof by Landlord and Tenant, provided that the term of this Lease (the “"Lease Term”") shall be as set forth in Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that Notwithstanding the Premises are currently occupied by another tenant of the Building. If Landlord is unable foregoing, if for any reason to deliver possession the Bridgepoint Lease (as defined in Section 2.2 [Sublease of the Premises Prior to Tenant on any specific date the Lease Term] below) is terminated prior to the Bridgepoint Expiration Date (as defined in Section 2.2 below), then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity Lease Commencement Date of this Lease or shall be adjusted to be the obligations day immediately following the day such early termination of Tenant hereunderthe Bridgepoint Lease is effective (the “Revised Lease Commencement Date”), except that in such instance (i) the Lease Term will be extended to add the additional period of time commencing as of the Revised Lease Commencement Date and ending on April 30, 2020, (ii) the Base Rent payable under this Lease during the period from the Revised Lease Commencement Date through April 30, 2020 will be the same rate payable by Bridgepoint under the Bridgepoint Lease during such time period, (iii) the Base Year will be 2010 during such time period (but will be adjusted to 2020 effective as of May 1, 2020) and (iv) effective as of May 1, 2020, Base Rent will be payable in accordance with the rent schedule set forth in Section 8 of the Summary of Basic Lease Information. For purposes clarity, the Lease Expiration Date of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form remain as set forth in Exhibit C, attached hereto, as a confirmation only Section 7.3 of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days Summary of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinBasic Lease Information. In addition the event of a default by Bridgepoint under the Bridgepoint Lease, Landlord will provide a copy of any notice of default sent to Bridgepoint to Tenant, and Tenant will have the foregoingright, subject but not the obligation, to any delays caused cure such default on behalf of Bridgepoint and will be provided the same notice and cure period provided to Bridgepoint under the Bridgepoint Lease. If Tenant cures such default, Landlord will accept such cure and will not terminate the Bridgepoint Lease by Tenant or any Tenant Parties reason of such default. Landlord further agrees that so long as no uncured default by Bridgepoint occurs under the Bridgepoint Lease (following notice and events of Force Majeurecure, if Landlord fails including the notice and opportunity to tender possession of the Premises cure extended to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”as noted above), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.will not enter into an [FINAL EXECUTION COPY]SMRH:478611488.18 -3- 600 B STREETMitek Systems, Inc. 92917 35XW-244846
Appears in 1 contract
Sources: Office Lease (Mitek Systems Inc)
Lease Term. The terms Lease Term" shall mean the period commencing on the 1st day of August, 1997 (the "Commencement Date") and provisions expiring on the 31st day of this Lease shall be effective July, 2007 (the "Termination Date"); provided, however, that if construction of the Building has not been substantially completed as of the date hereof, the provisions of any Addendum hereto with respect to construction and completion of the Building shall govern with respect to commencement and expiration of the Lease Term. If Landlord, due to force majeure or Tenant delays, cannot deliver possession of the Premises to Tenant on the Commencement Date, this Lease shall not be void or voidable, no obligation of Tenant shall be affected thereby, and neither Landlord, nor Landlord's agents shall be liable to Tenant for any loss or damage resulting from the delay in delivery of possession; provided however, that in such event, the Commencement 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 all other dates that may be affected by its change, except the Termination Date, shall terminate on be revised to conform to the “Lease Expiration Date,” as that term is set forth in Section 3.3 date of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant Landlord's delivery of the Buildingpossession to Tenant. If for any other reason, Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date or before August 1, then Landlord 1997, the Lease shall not be subject to any liability for its failure to do sovoid or voidable, and such failure shall not affect the validity of this Lease or the obligations no obligation of Tenant hereunder. For purposes shall be affected thereby, provided that Landlord shall provide Tenant with one (1) day's free Base Rent and Additional Rent for each day delivery is delayed past August 1, 1997 for reasons other than those due to force majeure or Tenant delays; and provided further that, in such event, the Commencement Date of this Lease, and all other dates that may be affected by this change, except the term “Lease Year” Termination Date, shall mean each consecutive twelve (12) month period during be revised to conform to the Lease Termdate of Landlord's delivery of possession to Tenant. 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; providedThe above, however, Tenant’s failure is subject to execute and return such notice to Landlord within such time shall be conclusive upon Tenant the provision that the information set forth in such notice is as specified therein. In addition to period permitted for the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events delay of Force Majeure, if Landlord fails to tender delivery of possession of the Premises shall not exceed sixty (60) days from the Commencement Date set forth in the first sentence of this Section 3.1 (except those delays due to force majeure or caused by Tenant delays shall be excluded in calculating such period). If possession exceeds the permitted period, Tenant may terminate this Lease by written notice to Landlord, in which case neither party shall have any further liability to the other under this Lease; provided, that written notice shall be ineffective if given after Tenant takes possession of any part of the Premises, or if given more than seventy (70) days after the original Commencement Date, plus the time of any Tenant delays. During each calendar month during the time that Landlord is preparing the Premises for delivery, in the event of force majeure or Tenant delay, Landlord shall provide written notice to Tenant of such delay, the number of days claimed as delay, and the nature of such delay. Landlord and Tenant shall execute a Commencement Agreement in recordable form on or before January 2the Commencement Date confirming the actual Commencement Date, 2015 the actual square footage of the Premises, Tenant's actual Proportionate Share of the Building (the “Base Rent Delivery Date”as provided in Section 4.6 hereof), Tenant shall and a completed Schedule 1 to be entitled provided pursuant 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 belowExhibit F hereof.
Appears in 1 contract
Sources: Net Lease (Closure Medical Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term Lease except for the provisions of this Lease (relating to the “payment of Rent. The Lease Term”) Term shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date 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 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 , 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 2the anticipated 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. Notwithstanding the foregoing, if Substantial Completion of the Tenant Improvements has not occurred on or before December 29, 2006 (the “Base Rent Delivery Deadline Date”)) (as such Deadline Date may be extended pursuant to the terms hereof) or if Tenant is otherwise prevented from occupying the Premises by the Deadline Date as a result of Landlord’s acts or omissions, then Tenant shall be entitled may terminate this Lease by written notice to one Landlord of such election given within five (15) day of per diem Base Rent abatement for each day commencing on the day days after the Base Rent Delivery Deadline Date and ending on the date Landlord so tenders possession prior to delivery of the Premises to Tenant. Any In the event of any such Base Rent Abatement termination under the preceding sentence, neither Landlord nor Tenant shall have any rights, liabilities or obligations accruing under this Lease after the effective date of such termination, except for such rights and liabilities which, by the terms of this Lease or at law, are obligations of the Tenant or Landlord which survive the expiration or earlier termination of this Lease. Tenant acknowledges and agrees that the Deadline Date shall be separate from and extended one (1) day for each day of delay of Substantial Completion of the Premises caused by Tenant Delay (as such terms are defined in addition to any Rent Abatement described Exhibit B attached hereto) and/or Force Majeure (as defined in Section 3.2 24.17 below).
Appears in 1 contract
Sources: Office Lease (Intervoice 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
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 of this Lease shall be effective as of the date of this LeaseFirst Commencement Date. 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 7.1 of the Summary and shall commence on the date (the “First Commencement Date”) set forth in Section 7.2 of the Summary, and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.4 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, however, that the first Lease Year shall commence on the Second Commencement Date, and the last Lease Year shall end on the Lease TermExpiration Date. This Lease shall not be void, voidable or subject to termination, nor, except as provided herein, shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord’s inability to deliver the Premises to Tenant by any particular date. Following the Second Commencement Date, Third Give-Back Date, and/or Retail Give-Back Date, Landlord may deliver to Tenant a notice of Lease Term dates in the form as set forth in Exhibit “C, ,” attached hereto, as a confirmation only of the information set forth therein, which factually correct notice Tenant shall execute and return to Landlord within ten twenty (1020) 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 (KBS Real Estate Investment Trust II, 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 (a) Tenant shall have and provisions of this Lease shall be effective as of hold the date of this Lease. The Premises for the term of this Lease (the “Lease Term”) shall commence identified in the Basic Lease Provisions, commencing on the February 1, 2007 (“Lease Commencement Date,” as that term is set forth in Section 3.2 ”), regardless of the Summarystatus of Tenant’s initial Tenant Improvements (defined in Exhibit B attached hereto, and shall terminate at midnight on the last day of the sixtieth (60th) full calendar month following the Commencement Date (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges shall use best efforts to complete the Tenant Improvements following the execution of this Lease. Landlord shall use best efforts to complete any Compliance Work (as defined in Exhibit B) and to replace and /or refurbish, as needed, the existing HVAC units prior to the Commencement Date, at Landlord’s sole cost and expense; provided that Landlord shall complete any Compliance Work that constitutes a lifesafety issue prior to the Commencement Date.
(b) Subject to the terms and conditions set forth below, Tenant may at its option (“Renewal Option”) extend the Term of this Lease for one (1) additional two (2) year period (the “Renewal Term”). If Tenant exercises the Renewal Option hereunder, all of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Renewal Term (except for this Renewal Option), including provisions regarding payment of Additional Rent, which shall remain payable on the terms herein set forth, except that the Base Rent payable by Tenant during the Renewal Term shall be as calculated in accordance with Section 2(c) below. To exercise the Renewal Option, Tenant must deliver notice to Landlord not sooner than one hundred eighty (180) days, or later than one hundred twenty (120) days prior to the expiration of the initial Term of this Lease. Thereafter, the Market Rate for the Renewal Term shall be calculated pursuant to Section 2(c) below.
(c) The Base Rent during the Renewal Term shall be the prevailing market rental rate for Comparable Space (as defined below) for a term commencing on or about the commencement date of the Renewal Term (the “Market Rate”). For this purpose, “Comparable Space” shall mean commercial space comparable to the Premises are currently occupied by another tenant that is (i) comparable in size, location, and quality to the Premises; (ii) leased for a term comparable to the Renewal Term; and (iii) located in comparable industrial projects in the vicinity of the Building. If Landlord is unable for any reason to deliver possession of In determining the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this LeaseMarket Rate, the term “Lease Year” parties shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute include all escalations and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute take into consideration free rent and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeureother rental abatement concessions, if Landlord fails any and any tenant improvement allowance or other obligations to tender possession of improve the Premises Comparable Space, if any, being granted to Tenant on or before January 2, 2015 (tenants in connection with the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowComparable Space.
Appears in 1 contract
Sources: Industrial/R&d Lease Agreement (TNAV Holdings, Inc.)
Lease Term. The terms and provisions of this This Lease shall be effective as of for the date of this Lease. The term of this Lease stated in Section 1.3 above (the “Term” or “Lease Term”) and shall commence on the earlier of (a) one hundred twenty (120) days following the latest to occur of (i) Landlord’s approval of Tenant’s plans for Tenant’s Work (defined below) provided Tenant submits plans for Tenant’s Work to Landlord no later than November 1, 2003 and thereafter timely responds to comments from Landlord, (ii) Landlord’s delivery of the Leased Premises to Tenant in a broom clean condition, free of all violations and the personal property and signage of any previous occupant, with Substantial Completion of Landlord’s Work (as defined in Section 3.2(a) below) and (iii) the date Tenant receives a building permit for the construction of Tenant’s Work provided Tenant submits plans for Tenant’s Work to the City of Seattle no later than December 1, 2003 and thereafter timely responds to comments from the City of Seattle or (b) the day that Tenant opens for business (the “Lease Commencement Date,” ”). It is anticipated that Landlord will deliver possession of the Leased Premises to Tenant on March 1, 2004 (the “Anticipated Delivery Date”), however, Landlord’s failure to do so shall not result in any liability to Landlord or otherwise affect Tenant’s obligations under this Lease except as that term is otherwise set forth in Section 3.2 below. If for any reason Landlord is unable to deliver possession of the Summary, and shall terminate Leased Premises on the “Lease Expiration Anticipated Delivery Date,” as that term is set forth in Section 3.3 of , Landlord must provide written documentation to Tenant no later than forty-five (45) days prior to 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 BuildingAnticipated Delivery Date. If Landlord is unable for any reason to deliver possession of the Leased Premises on the Anticipated Delivery Date and Landlord fails to provide such notification to Tenant on any specific date when required, then Landlord shall not be subject pay to Tenant, as liquidated damages, $750.00 per day for each day of delay (the “Late Fee”). If such delay continues beyond July 1, 2004, then, in addition to any liability for its failure Late Fee that may be due Tenant, Tenant shall have the right to do so, and such failure shall not affect the validity of terminate 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 upon notice to Landlord within such time shall be conclusive upon Tenant that delivered no later than the information set forth in such notice is as specified therein. In addition to earlier of (i) July 15, 2004 and (ii) the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events date of Force Majeure, if Landlord fails to tender possession Landlord’s Delivery 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 Leased Premises to Tenant. Any such Base Rent Abatement In the event Tenant terminates this Lease in accordance with the preceding sentence, Landlord shall reimburse Tenant for the reasonable out-of-pocket costs incurred by Tenant in preparation and/or review of Tenant’s plans and specifications for the Leased Premises. In no event shall Tenant be separate from required to accept delivery of possession of the Leased Premises prior to the Anticipated Delivery Date. Notwithstanding anything to the contrary contained herein, Tenant shall not be required to begin construction or initially open for business in the Leased Premises unless (a) tenants occupying ninety percent (90%) or more of the retail portion of University Village and (b) Crate & Barrel, Apple, Victoria’s Secret and Talbots (the “Named Tenants”) have signed leases and are scheduled to open no later than sixty (60) days following the date Tenant is required to open for business hereunder. Landlord shall verify the foregoing in addition writing and provide a leasing plan showing the names, square foot areas and opening dates of the Named Tenants no later than forty-five (45) days prior to any Rent Abatement described in Section 3.2 belowthe date Tenant is scheduled to commence construction.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”"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 later of October 1, 2000 or fifteen (15) calendar days following 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 this 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 5.3 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 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 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 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 (Kinzan 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 Agreement by the Tenant that takes place prior to the end of the Lease Term or any of its ongoing extensions - regardless of whether it occurs under applicable law (e.g. insolvency proceedings)- shall be considered a serious breach of this Agreement and shall entitle the “Landlord to demand from the Tenant a conventional penalty consisting of an amount equal to the amount of the Rent corresponding to the Lease Term”) Term or the ongoing extension remaining to be fulfilled (plus the one that is applicable, where appropriate, pursuant to Clause 2.11 and/or 18.6). This conventional penalty has been freely agreed by the Parties and constitutes the amount in which both quantify the damages caused to the Landlord for the breach of this essential obligation to remain for the entire Lease Term and, where applicable, the extensions. The Tenant expressly accepts the proportionality of this penalty in consideration of the essential nature of the Lease Term or any of its extensions and expressly waives the right to exercise any actions aimed at the judicial moderation of the penalty or to delay or avoid its fulfillment and execution.
7.7 Notwithstanding the provisions of Clause 7.5, the Parties expressly agree that the Tenant shall commence have the power to withdraw from the Lease, which may only be exercised with effect on the “Lease Commencement Date,” as that term is set forth in Section 3.2 date on which three (3) years of the SummaryLease Term are reached, and shall terminate on by notifying the “Lease Expiration Date,” as that term is set forth in Section 3.3 Landlord with a prior notice of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during months, that is, on the date on which two (2) years of the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice Term is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 reached (the “Base Rent Delivery DateWithdrawal Faculty”). In the event of the exercise of the Withdrawal Faculty by the Tenant, Tenant the Landlord shall be entitled to one (1) day an economic compensation for an amount equal to eight months of per diem Base the Fixed Part of the Rent abatement for each day commencing in force on the day after effective date of said withdrawal, plus the Base Rent Delivery Date and ending on the date Landlord so tenders possession total unpaid amount of the Premises Supplementary Rent Part pending payment (the “Withdrawal Compensation”), plus the corresponding Value Added Tax. For the valid exercise of the Withdrawal Faculty, the payment of the Withdrawal Compensation by the Tenant to Tenant. Any such Base Rent Abatement the Landlord shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowindispensable simultaneously with the notification of the exercise of the Withdrawal Faculty.
Appears in 1 contract
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 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 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 ,with respect to the Initial Premises (the “Lease "INITIAL PREMISES LEASE Term”") shall be as set forth in Section 7.1 of the Summary and shall commence on the “Lease Commencement Date,” as that term is date (the "LEASE COMMENCEMENT DATE") set forth in Section 3.2 7.2 of the Summary, Summary and shall terminate on the “Lease Expiration Date,” as that term is date (the "LEASE EXPIRATION DATE") 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 The term of this Lease or for the obligations Must-Take Space i.e., the Must-Take Space Term) shall commence on the Must-Take Commencement Date and terminate on the Lease Expiration Date, unless this Lease is sooner terminated. If applicable, the term of Tenant hereunderthis Lease for the Machine Shop Space (i.e., the Machine Shop Space Term) shall commence on the Machine Shop Commencement Date and terminate on the Lease Expiration Date (as may be extended pursuant to the Extension Option Rider attached to this Lease), unless this Lease is sooner terminated. For purposes of this Lease, the term “"LEASE TERM" shall mean the Initial Lease Year” Term, the Must-Take Space Term and Machine Shop Space Term, as applicable, and the term "LEASE YEAR" shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the applicable 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 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 last Lease Year shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing end 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 Expiration Date.
Appears in 1 contract
Sources: Office Lease (Websense Inc)
Lease Term. The (a) Subject to and upon the terms and provisions conditions set forth in the Lease, or in any exhibit attached hereto, the primary term of this Lease shall commence on the earlier of (i) the Completion Date or (ii) the date Tenant occupies all or part of the Leased Premises, (such earlier date being the “Commencement Date”) and shall expire on the last day of the eighty-sixth (86th) full month after the Commencement Date or such earlier date as this Lease may terminate as provided herein; provided, however, the term of this Lease shall not commence prior to the one hundred twenty-second (122nd) day following the Effective Date (the “Estimated Completion Date”) unless Tenant occupies all or a part of the Leased Premises prior thereto. The “Lease Term” of this Lease shall be effective the primary term specified in this Section 2.01, as renewed or otherwise extended or earlier terminated pursuant to the terms and provisions set forth herein.
(b) As used herein, “Completion Date” means the date Tenant’s leasehold improvements are Substantially Completed (as defined below); provided, that, if Tenant occupies any part of the date of this Lease. The term of this Leased Premises before the Commencement Date, the Lease (the “Lease Term”) Term and Tenant’s obligation to pay Rent shall commence on the “Lease date Tenant occupies the Leased Premises and such date shall be deemed to be the Commencement Date,” . Except as that term provided in subsection (c) below, Tenant is set forth in Section 3.2 deemed to occupy the Leased Premises when Tenant takes possession of any part of the SummaryLeased Premises for any purpose, including placing furniture and shall terminate on installing Tenant’s equipment (other than telephone equipment) in the “Leased Premises. If the Commencement Date is other than the first day of a calendar month, the Lease Expiration Date,” Term will be extended and will be calculated as that term is set forth in Section 3.3 if the Commencement Date were the first day of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that next full calendar month and the Premises are currently occupied by another tenant of Rent hereunder will be prorated for the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfirst partial month.
Appears in 1 contract
Sources: Lease Agreement (Sigmatel Inc)
Lease Term. The term of this Lease shall commence on the date which Landlord delivers the Premises substantially complete, as documented by issuance of a temporary occupancy permit or receipt of verbal approval by the appropriate city official, and shall terminate on the last day of the one hundred twentieth (120th) full month thereafter, unless sooner terminated as hereinafter provided. In the event that Tenant does not vacate the Premises upon the expiration or termination of this Lease, Tenant shall be a tenant at will for the holdover period and all of the terms and provisions of this Lease shall be effective applicable during that period, except that Tenant shall pay Landlord as base rental for the period of such holdover an amount equal to two (2) times the base rent which would have been payable by Tenant had the holdover period been a part of the date original term of this Lease, together with all additional rent as provided in this Lease. Tenant agrees to vacate and deliver the Premises to Landlord upon Tenant's receipt of notice from Landlord to vacate. The rental payable during the holdover period shall be payable to Landlord on demand. No holding over by Tenant, whether with or without the consent of Landlord, shall operate to extend the term of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth occupancy date herein and Landlord's liability for late delivery fees contained in Section 3.2 2.1 are predicated on receipt of the Summaryan approved tenant floor plan on or before November 1, 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 provided1996. Landlord warrants its ability to provide 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 occupancy of the Premises to Tenant on any specific date without a completed parking surface, 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 event that a parking lot is not in Exhibit C, attached hereto, as a confirmation only place in the Fall 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 below1996.
Appears in 1 contract
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 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
Lease Term. The terms and provisions of 3.1 Except as otherwise provided in this Lease, the Lease Term shall be effective as of for the date of this Leaseperiod set forth in Article 1.
3.2 Landlord leases to Tenant, and Tenant leases from Landlord, the Premises for the Lease Term. The term of this Lease (the “Lease Term”) Term shall commence on the “Lease Commencement Date,” which is defined as that term is the earliest of (a) the date on which Landlord has Substantially Completed (as defined in the Work Letter) the Tenant Improvements (as defined in the Work Letter) and delivers possession of the Premises to Tenant; (b) the date on which Landlord could reasonably have been expected to Substantially Complete the Tenant Improvements and deliver possession of the Premises to Tenant but for any act or omission of Tenant or any of Tenant Parties (as hereinafter defined) (“Tenant Delays”), including without limitation (i) any delays by Tenant to furnish information, approve any item, or perform any obligation in accordance with the terms of the Work Letter, including without limitation Tenant’s failure to timely pay any amount due under the Work Letter, (ii) Tenant’s request for equipment, materials, finishes or installations other than those readily available, (iii) Tenant’s request for changes to the plans and specifications after initial approval by either Tenant or Landlord, (iv) performance of work in the Premises by or at the direction of Tenant during the performance of the Tenant Improvements, or (v) if the performance of any portion of the Tenant Improvements depends on the prior or simultaneous performance of work by or at the direction of Tenant, a delay by Tenant or Tenant Parties in the completion of such work; or (c) the date on which ▇▇▇▇▇▇ commences to conduct business from the Premises. Notwithstanding the foregoing, Landlord shall not be permitted to assert any Tenant Delays without first notifying Tenant of any circumstance Landlord asserts constitutes Tenant Delays and providing Tenant a period of two (2) Business Days to cure such circumstance. By executing this Lease, the parties agree to the terms set forth in Section 3.2 the Work Letter. By taking possession of the SummaryPremises, and shall terminate on the “Lease Expiration Date,” Tenant acknowledges that, except as that term is set forth otherwise agreed to by Landlord in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that or in the Work Letter, the Premises are currently occupied in good order and satisfactory condition, there are no representations or warranties by another tenant Landlord regarding the condition of the Premises or the Building, and ▇▇▇▇▇▇ has examined and accepts the Premises in its present “as-is”, “where-as” condition and configuration. Landlord hereby covenants and warrants that the mechanical, electrical, plumbing, HVAC, fire prevention, and warning and security systems (“Building Systems”) serving the Premises shall remain in good working order for a period of twelve (12) months following the Commencement Date, excepting any damage caused by Tenant or its employees, agents or contractors. Landlord shall, at Landlord's sole cost and expense (which shall not be deemed an Expense), promptly repair or replace any failed or inoperable portion of such Building Systems, as applicable, during such twelve (12) month period. So long as neither Tenant nor any of the Tenant Parties interfere with the Substantial Completion of the Tenant Improvements, Landlord shall use reasonable efforts to give Tenant and its designated contractors access to the Premises approximately sixty (60) days prior to the projected Commencement Date (the “Early Access Period”) for purposes of installing Tenant’s furniture, fixtures, and equipment in the Premises (“Tenant’s Work”). Tenant’s Work shall be performed by Tenant at Tenant’s sole cost and expense. Tenant’s access to the Premises during the Early Access Period shall be subject to all terms and conditions of the Lease, except that Tenant shall not be obligated to pay Base Monthly Rent during the Early Access Period until the Commencement Date. ▇▇▇▇▇▇ agrees to provide Landlord with prior notice of any such intended early access and to cooperate with Landlord during the Early Access Period so as not to interfere with Landlord in the Substantial Completion of the Tenant Improvements. Should Landlord determine that such early access interferes with the Substantial Completion of the Tenant Improvements, Landlord may deny Tenant access to the Premises until the Tenant Improvements are Substantially Completed. In the event that Tenant conducts business from the Premises during the Early Access Period, the Commencement Date shall be deemed to have occurred as provided above.
3.3 If Landlord is unable for any reason to deliver possession of the Premises to Tenant with the Tenant Improvements Substantially Completed on or before the Estimated Commencement Date for any specific date reason whatsoever including, then without limitation, Tenant Delays or Force Majeure Delays (as hereinafter defined), Landlord shall not be subject liable to Tenant for any liability damages or losses resulting therefrom and this Lease shall continue in full force and effect, except that, unless such delays are due to Tenant Delays, the Lease Term and ▇▇▇▇▇▇’s obligation to pay Base Monthly Rent and Additional Rent shall commence on the Commencement Date (regardless of whether ▇▇▇▇▇▇ actually takes possession as of that date). If such delays are due to Tenant Delays, the Commencement Date shall be the date on which Landlord could reasonably have been expected to Substantially Complete the Tenant Improvements and deliver possession of the Premises to Tenant but for any Tenant Delays. Notwithstanding anything to the contrary set forth herein, if Landlord fails to deliver the Premises to Tenant in the condition required under this Lease by March 1, 2026 (the “Required Delivery Date”) for reasons within Landlord’s control (Tenant hereby agreeing that Tenant Delays, and Force Majeure Delays not to exceed sixty (60) days, are not, without limitation, reasons within Landlord’s control), then commencing as of the expiration of the Abatement Period, the Base Monthly Rent first otherwise due and owing under this Lease shall be abated one (1) day for each one (1) day between the Required Delivery Date and the date on which delivers the Premises to Tenant in the condition required under this Lease. Further notwithstanding anything to the contrary set forth herein, if Landlord fails to deliver the Premises to Tenant in the condition required under this Lease by July 1, 2026 (the “Outside Date”) for reasons within Landlord’s control (Tenant hereby agreeing that Tenant Delays, or Force Majeure Delays not to exceed sixty (60) days, are not, without limitation, reasons within Landlord’s control), Tenant shall have the right to terminate this Lease by delivering written notice thereof to Landlord within thirty (30) days after the Outside Date; provided, however, that ▇▇▇▇▇▇’s termination notice shall be deemed revoked and of no further force and effect if Landlord delivers the Premises to Tenant in the condition required under this Lease within thirty (30) days following Landlord’s receipt of such termination notice. In the event Tenant terminates this Lease in accordance with this Section 3.3, Landlord shall promptly return all prepaid Rent to Tenant and any amounts paid by Tenant pursuant to its early entry to the Premises and this Lease shall terminate and neither Tenant nor Landlord shall have any further rights or obligations under this Lease, except for those that expressly survive termination.
3.4 On or about the Commencement Date, Landlord may prepare and deliver to Tenant a commencement date notice in the form of Exhibit “C” attached hereto (the “Commencement Date Notice”), which ▇▇▇▇▇▇ agrees to execute and return to Landlord within thirty (30) days of receipt thereof. Tenant’s failure to do so, sign the Commencement Date Notice and such failure return it to Landlord as provided above shall be deemed to be Tenant’s acceptance of all the terms in the Commencement Date Notice and shall not affect the validity of the Commencement Date or this Lease.
3.5 Provided no Event of Default exists under this Lease as of the date of exercise of the applicable Renewal Option or as of the applicable Renewal Term Commencement Date (both as hereinafter defined), Tenant shall have two (2) options to renew this Lease (each, the “Renewal Option”) for the entire Premises for a period of five (5) years (each, the “Renewal Term”), commencing on the first day following the expiration of the initial Lease Term or the obligations of Tenant hereunder. For purposes of this Leasefirst Renewal Term, as applicable (each, the term “Renewal Term Commencement Date”). The Renewal Option is exercisable only by Tenant giving written notice thereof (“Renewal Notice”) to Landlord of its exercise of the Renewal Option at least nine (9) months, and no more than fifteen (15) months, prior to the expiration of the initial Lease Year” shall mean each consecutive twelve (12) month period Term or the first Renewal Term, as applicable. The Base Monthly Rent payable hereunder for the Premises during the Lease Termapplicable Renewal Term shall be adjusted to the Fair Market Rental Rate (as hereinafter defined) as of the applicable Renewal Term Commencement Date. At any time during Landlord shall give Tenant written notice of Landlord’s determination of the Lease TermFair Market Rental Rate for the applicable Renewal Term (“Landlord’s Statement”) within thirty (30) days after ▇▇▇▇▇▇▇▇’s receipt of the Renewal Notice. Within fifteen (15) days after ▇▇▇▇▇▇’s receipt of Landlord’s Statement (“Tenant’s Review Period”), Tenant shall give Landlord may deliver written notice of its election to Tenant a notice in either (a) accept the form as Fair Market Rental Rate set forth in Exhibit C, attached hereto, Landlord’s Statement or (b) reject Landlord’s Statement and request that the Fair Market Rental Rate be determined by arbitration 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 thereofprovided below; provided, however, that prior to submitting the matter to arbitration as herein provided, the parties shall first attempt in good faith to resolve their differences in the determination of the Fair Market Rental Rate for a period ten (10) Business Days following ▇▇▇▇▇▇▇▇’s receipt of Tenant’s notice of its rejection of Landlord’s Statement. If Tenant fails to give Landlord notice of its acceptance or rejection of Landlord’s Statement by the expiration of Tenant’s Review Period, then such failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that deemed to be Tenant’s rejection of the information Fair Market Rental Rate set forth in such Landlord’s Statement. If Tenant gives (or is deemed to have given) Landlord notice is as specified therein. In addition that it elects arbitration, and the parties have failed to resolve their differences within the required ten (10) Business Days thereafter, then, in order to determine the Fair Market Rental Rate for the Renewal Term, Landlord and Tenant, within fifteen (15) days after Landlord’s receipt of Tenant’s written notice of election to arbitrate, shall each simultaneously submit 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 other in writing its good faith estimate of the Premises to Tenant on or before January 2, 2015 Fair Market Rental Rate (the “Base Rent Delivery DateGood Faith Estimates”). If the higher of the Good Faith Estimates is not more than one hundred and five percent (105%) of the lower of the Good Faith Estimates, Tenant the Fair Market Rental Rate in question shall be entitled deemed to one be the average of the submitted rates. If otherwise, then the rate shall be set by arbitration to be held in Phoenix, Arizona, in accordance with the Real Estate Valuation Arbitration Rules of the American Arbitration Association, except that the arbitration shall be conducted by a single arbitrator selected as follows. Within five (15) day of per diem Base Rent abatement for each day commencing on the day Business Days after the Base Rent Delivery Date simultaneous submittal by Landlord and ending on the date Landlord so tenders possession 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 below.their respective Good Faith Estimates, each shall
Appears in 1 contract
Lease Term. The terms (Section 2): Ten (10) years, scheduled to commence on September 1, 2004, and provisions expiring on August 31, 2014 (“Expiration Date”). Notwithstanding the Expiration Date set forth hereinabove, Tenant shall have the personal non-assignable option right (“Lease Termination Option”) to terminate the Lease to be effective on February 29, 2012 (“Lease Termination Date”) by giving Landlord prior written notice (“Lease Termination Notice”) received by Landlord on or before September 1, 2011 (“Lease Termination Notice Expiration Date”), such Lease Termination Option being conditioned upon the following:
a) that Tenant shall be in good standing and not in monetary or material non-monetary breach or default of the Lease beyond applicable notice and cure periods at the time the Lease Termination Notice is given or at the Lease Termination Date;
b) that Tenant shall pay Landlord a termination fee (“Lease Termination Fee”) equal to the remaining unamortized portion of Landlord’s Construction Costs and remaining unamortized portion of Leasing Commissions paid (as defined in the Work Agreement attached to this Lease shall be effective as Exhibit “C” and made a part hereof) pertaining to the Premises, as calculated hereinbelow, all due and payable within thirty (30) days of the date of this Leasethe Lease Termination Notice; and
c) that, inasmuch as such Lease Termination Option is personal to the original Tenant hereunder, Tenant has not subleased the Premises (or any portion thereof) or assigned or transferred any interest in the Lease or in the Premises, or entered into any agreement to do the same, at any time prior to such attempted exercise or thereafter until such Lease Termination Date. The Lease Termination Fee shall be an amount computed by taking the remaining unamortized portion (that is, the portion not amortized over the period of the Lease term from the Commencement Date through the Lease Termination Date), as of this the Lease Termination Date, of Landlord’s Construction Costs and Leasing Commissions based on equal monthly installments in an amount sufficient to amortize such amounts, together with interest at eight percent (8%) per annum, over one hundred twenty (120) months. Once Landlord has determined the “amount of Landlord’s Construction Costs incurred pursuant to the Work Agreement, a written summary will be provided to Tenant for its Lease Term”file. By way of example, if the total sum of Landlord’s Construction Costs and Leasing Commissions is $425,000.00 and the Lease is terminated at the expiration of the ninetieth (90th) month of the term, then the amount payable by Tenant based on a one hundred twenty (120) month amortization at eight percent (8%) interest (K=0.01214) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.be:
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term Lease except for the provisions of this Lease relating to the payment of Rent. The Lease Term shall be as set forth in Article 5 (the “Lease Term”) of the Basic Lease Provisions above and shall commence on the “Lease Commencement Date,” as that term is Date set forth in Section 3.2 Article 6 (Commencement Date) of the SummaryBasic Lease Provisions above, and shall terminate on the date that is the last day of the thirty-sixth (36th) full calendar month following the Rent Commencement Date (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that Following 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, 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 an amendment in the form as set forth in Exhibit CC (Form of Amendment to Lease) attached hereto (the “Commencement Date Amendment”), attached heretosetting forth, as a confirmation only of among other things, the information set forth thereinCommencement Date, which Rent Commencement Date and the Expiration Date, and Tenant shall execute and return such Commencement Date Amendment to Landlord within ten (10) business days of after Tenant’s receipt thereof; provided, however, Tenant. ▇▇▇▇▇▇’s failure to execute and deliver the Commencement Date Amendment shall not alter the actual Commencement Date hereunder, provided, however, if ▇▇▇▇▇▇ fails to execute and return such notice to Landlord the Commencement Date Amendment 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”)10business day period, Tenant shall be entitled deemed to one have approved and confirmed the dates set forth therein. No such deemed approval shall relieve Tenant of its obligation to execute and return the Commencement Date Amendment (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 failure shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowconstitute a default by Tenant hereunder).
Appears in 1 contract
Sources: Commercial Lease Agreement (Lulu's Fashion Lounge 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 (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 LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease TermLEASE TERM”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is LEASE COMMENCEMENT DATE”) set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of Section 5 of the Tenant Work Letter), and shall terminate on the date (the “Lease Expiration Date,” as that term is LEASE EXPIRATION DATE”) set forth in Section 3.3 SECTION 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during Term commencing on the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofCommencement Date; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant provided that the information set forth in such notice is as specified thereinlast Lease Year shall end on the Lease Expiration Date. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events The taking of Force Majeure, if Landlord fails to tender possession of the Premises by Tenant shall conclusively establish that the Premises and the Base Building were in satisfactory condition at such time, provided that Tenant shall have the right to submit a punch list within thirty (30) days of Landlord’s delivery of the Base Building to Tenant detailing any Base Building items which fail to comply with the Tenant Work Letter. Landlord shall then complete said punch list items as required in the Tenant Work Letter. Notwithstanding the definition of the Lease Commencement Date for the Premises set forth above, if Tenant commences business operations from any portion of the Premises prior to the occurrence of the Lease Commencement Date (each space occupied to be known as the “PRE-OCCUPANCY SPACE”), all of the terms and conditions of this Lease shall apply to that portion of the Premises containing the Pre-Occupancy Space, except that Tenant shall have no obligation to pay any Base Rent or Direct Expenses during the period commencing on or before January 2, 2015 the date Tenant commences business operations from the applicable Pre-Occupancy Space and continuing until the Lease Commencement Date (the “Base Rent Delivery DatePRE-OCCUPANCY PERIOD”), . Tenant shall however be entitled obligated to one (1) day pay parking charges during the Pre-Occupancy Period for any parking spaces used by Tenant other than in connection with the construction of per diem Base Rent abatement for each day commencing on the day after Premises. Tenant shall have the Base Rent Delivery Date and ending on the date Landlord so tenders possession right to commence business operations from any portion of the Premises to Tenant. Any such Base Rent Abatement during the Pre-Occupancy Period, provided that a certificate of occupancy or its equivalent permitting occupancy shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowhave been issued by the appropriate governmental authorities for the Pre-Occupancy Space.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The 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, 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 1 contract
Sources: Lease (Tenaya Therapeutics, Inc.)
Lease Term. a. Except as otherwise provided in this Lease, the Lease Term shall be for the period set forth in Article 1.
b. Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Lease Term. The terms and Lease Term shall commence on the Commencement Date.
c. Landlord shall tender possession of the Premises in its “as-is”, “where-as” condition to Tenant within two (2) business days following the Effective Date. Except as otherwise expressly provided in this Lease, all provisions of this Lease shall be effective as in effect between the Effective Date and the Commencement Date; provided, however, that Tenant’s use and occupancy of the date of this LeaseExisting Premises shall be governed by and subject to the Existing Lease until the expiration thereof. 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 By taking possession of the SummaryPremises, and shall terminate on the “Lease Expiration Date,” Tenant acknowledges that, except as that term is set forth in Section 3.3 of the Summaryotherwise agreed herein by Landlord, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied in good order and satisfactory condition, that there are no representations or warranties by another tenant Landlord regarding the condition of the Premises or the Building, and that Tenant has examined and accepts the Premises in its present “as-is”, “where-as” condition and configuration. If Landlord is unable for any reason to deliver timely tender possession of the Premises to Tenant on for any specific date reason whatsoever, then Landlord shall not be subject liable to Tenant for any liability for its failure to do so, damages or losses resulting therefrom and such failure shall not affect the validity of this Lease or shall continue in full force and effect, except that, unless 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 delay in the form as set forth in Exhibit C, attached hereto, as a confirmation only tender of possession is the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days result of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject 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 Party (the “Base Rent Delivery Date”as hereinafter defined), Tenant the Outside Commencement Date shall be entitled to one (1) delayed on a day-for-day of per diem Base Rent abatement basis for each day commencing on resulting from such delay in the day after the Base Rent Delivery Date and ending on the date Landlord so tenders tender of possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from , and in addition provided further that if, for any reason, the delivery of possession of the Premises has not occurred by the date that is thirty (30) days following the Effective Date, then Tenant may, by written notice to any Rent Abatement described in Section 3.2 belowLandlord, terminate this Lease.
Appears in 1 contract
Sources: Office Lease Agreement (JOINT Corp)
Lease Term. The (a) Subject to and upon the terms and provisions conditions set forth in the Lease, or in any exhibit attached hereto, the primary term of this Lease shall commence on the Commencement Date and shall expire on the last day of the fifty-sixth (56th) month following the Commencement Date or such earlier date as this Lease may terminate as provided herein, but in no event later than August 31, 2009 (the “Expiration Date”). The “Lease Term” of this Lease shall be effective the primary term specified in this Section 2.01, as renewed or otherwise extended or earlier terminated pursuant to the terms and provisions set forth herein. If the Commencement Date is not the first day of a calendar month, then the Lease Term shall be extended by the time between the Commencement Date and the first day of the date of this Lease. The term of this Lease next month.
(b) After the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set , Landlord and Tenant shall promptly, upon the request of either of them, execute and deliver to each other an agreement setting forth in Section 3.2 of the Summary, Commencement and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Dates.
(c) Landlord and Tenant hereby acknowledges currently anticipate that the Premises are currently occupied by another tenant of Tenant Finish Work (as defined in the Building. If Landlord is unable for any reason to deliver Tenant’s Work Letter) will be Substantially Completed and possession of the Leased Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises delivered to Tenant on or before January 2November 15, 2015 2004 (the “Base Rent Delivery Scheduled Commencement Date”). If the Tenant Finish Work is not Substantially Completed on the Scheduled Commencement Date, Tenant shall be entitled to one (1) day of per diem Base Rent abatement Landlord shall not be in default hereunder or be liable for each day commencing on damages therefore, (ii) the day after Commencement Date as defined in the Base Rent Delivery Date and ending on Basic Lease Provisions shall be the date that Landlord so tenders the Leased Premises to Tenant Substantially Completed and (iii) Tenant shall accept possession of the Leased Premises when Landlord tenders possession thereof to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowTenant Substantially Completed.
Appears in 1 contract
Sources: Lease Agreement (Matinee Media CORP)
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
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” be as that term is set forth in Section 3.2 3.1 of the Summary, shall commence on the date (the “Commencement Date”) that Landlord delivers the Premises to Tenant in its “as is” condition and free of occupants, together with a copy of an Environmental Assessment, the Tenant acknowledging that such Environmental Assessment shall not be deemed to be insufficient on account of the Transferred Materials, defined below, remaining in the Premises in compliance with this Lease, meeting the requirements of Section 15.3, below, from the current tenant of the Premises or a consultant retained by Landlord (such condition being referred to herein as the “Delivery Condition”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Commencement Date and each subsequent consecutive twelve (12) month period during the Lease TermTerm (notwithstanding the foregoing to the contrary, the fifth Lease Year shall end on the Lease Expiration Date). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C2.1(A), attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, but execution of such instrument shall not be a condition to Lease commencement or Tenant’s obligations hereunder. Landlord anticipates that the Commencement Date will occur on April 1, 2019, but failure of the Commencement Date to execute and return occur on such notice date shall not be a default hereunder or result in any liability to Landlord within such time shall be conclusive upon or the termination of this Lease. Tenant acknowledges that the information set forth Premises will be delivered to Tenant containing such personal property as the predecessor tenant in such notice is as specified therein. In addition the Premises may agree in writing, at least 30 days prior to the foregoingCommencement Date, subject to any delays caused by convey to Tenant or any pursuant to a separate agreement. Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of further acknowledges that the Premises will be delivered containing certain Hazardous Materials as more particularly described, and in the manner described, in the plan dated March 12, 2019 prepared by Technical Safety Services LLC, and referred to Tenant on or before January 2, 2015 as NY-AST19006G-1 and attached hereto as Exhibit 2.1(B) (the “Base Rent Delivery DateTransferred Materials”), ) that Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on is acquiring from the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of predecessor tenant in the Premises pursuant to Tenanta separate written agreement (the “Side Letter”) between Tenant and the predecessor tenant, which Side Letter is attached hereto as Exhibit 2.1(C). Any such Base Rent Abatement shall be separate Landlord makes no representations or warranties with respect to, and Tenant waives any claims against Landlord arising out of, the conveyance or use of any personal property that Tenant obtains from and in addition to any Rent Abatement described in Section 3.2 belowthe predecessor tenant, the Transferred Materials, or the predecessor tenant’s compliance with the Plan or the Side Letter.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on as a result of an existing tenant holding over in all or any specific date portion of the Premises, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder, so long as Landlord, at its expense, is promptly and diligently taking all actions reasonably necessary to cause such existing tenant to vacate such portion of the Premises, including any required legal proceeding, to secure possession of the Premises prior to “Outside Delivery Date,” as defined below, if possible, or if not possible by such date, as soon thereafter as possible. Notwithstanding the foregoing, if and to the extent that Landlord fails to deliver possession of the Premises to Tenant on or before September 1, 2017 (the “Outside Delivery Date”) for any reason, then the date set forth in Section 3.2 of the Summary (i.e., March 1, 2018) shall be delayed on a day-for-day basis for each day beyond the Outside Delivery Date that Landlord fails to so deliver the Premises to Tenant. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, . Tenant’s failure to execute and return such notice to Landlord (or to deliver to Landlord in good faith, corrective comments with respect to such notice) within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Office Lease (Airbnb, Inc.)
Lease Term. The (a) Subject to and upon the terms and provisions of conditions set forth in this Lease, this Lease shall be effective as of continue in force for the date of this Lease. The term of this Lease (the “Lease Term”. Notwithstanding the Commencement Date provided in Paragraph l(e) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, Tenant's obligation for the term “Lease Year” shall mean each consecutive twelve (12) month period during payment of rent and the Lease Term. At any time during the Lease Term, Term shall not commence until Landlord may deliver has substantially completed all work to Tenant a notice in the form be performed by Landlord as set forth in Exhibit C, the Work Letter Agreement attached hereto, hereto as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofEXHIBIT "D"; provided, however, that if Landlord shall be delayed in substantially completing said work as a result of any of the following (a "DELAY"):
(i) Tenant’s 's failure to execute furnish information in accordance herewith or to respond to any request by Landlord for any approval or information within any time period prescribed, or if no time period is prescribed, then within three Business Days of such request; or
(ii) Tenant's insistence on materials, finishes or installations other than Landlord's Building Standard after having first been informed by Landlord in writing at or before the time of delivery to Tenant of final construction pricing for Tenant's approval that such materials, finishes or installations will cause a Delay; or
(iii) Tenant's changes in any plans and return specifications; or
(iv) The performance by a person, firm or corporation employed by Tenant in the completion of any work by said person, firm or corporation (all such notice work and such persons, firms or corporations being subject to Landlord within such time shall be conclusive upon the approval of Landlord); or
(v) Any request by Tenant that Landlord delay the information set forth in such notice is as specified therein. In addition to the foregoing, subject to completion of any delays caused of Landlord's work; or
(vi) Any breach or default by Tenant or any Tenant Parties and events in the performance of Force Majeure, if Landlord fails to tender Tenant's obligations under this Lease; or
(vii) Any delay resulting from Tenant's having taken possession of the Premises prior to Tenant on or before January 2its being substantially completed, 2015 as defined below; or
(the “Base Rent Delivery Date”), Tenant shall be entitled to one (1viii) day Any reasonably necessary displacement of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession any of Landlord's work from its place in Landlord's construction schedule resulting from any of the Premises causes for Delay; or
(ix) Any other delay chargeable to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below., its agents, employees or independent contractors;
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the date set forth in Section 3.4 of the Summary (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, ”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Lease Commencement Date and each consecutive subsequent twelve (12) month period during the Lease Term; provided, however, if the Lease Commencement Date is other than the first (1st) day of a calendar month, “Month 1” will include the first full calendar month following the Lease Commencement Date plus any partial calendar month following the Lease Commencement Date. In the event Month 1 includes any partial calendar month, Tenant shall pay the prorated amount of Monthly Base Rent for such partial calendar month pursuant to Article 3 in addition to the Monthly Base Rent for the ninth (9th) full calendar month of the Lease Term (and to the extent that Month 1 is included as part of the Abatement Period, any such partial calendar month shall be excluded from the Abatement Period). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C2.1, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute (or provide factual correction to) and return to Landlord within ten (10) business days of receipt thereof; provided, however, but execution of such instrument shall not be a condition to Lease commencement or Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowobligations hereunder.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. (A) The term of this Lease (the “Lease Term”) shall commence on the “Lease date hereof and shall end three (3) years and zero (0) months after the Rent Commencement Date,” as that term is set forth in Section 3.2 . The "Rent Commencement Date" shall be the 1st day of March 1996, provided, the Landlord has completed construction of the Summary, Premises and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 installation of the SummaryTenant fit-up specifications listed on Exhibit B, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that entitled "Description of Work to be Performed by Landlord", attached hereto and the Premises are currently occupied by another tenant tendered in writing to Tenant for occupancy on or before March 1, 1996. Should the Premises be tendered to Tenant for occupancy on a date later than March 1, 1996 the Rent Commencement Date shall be deemed to be the date Tenant actually opens for business in the Premises or the date which is thirty (30) days after the Landlord makes written tender of the Building. If Landlord is unable for Premises to the Tenant, whichever be earlier.
(B) At any reason time prior to deliver the delivery of possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Leaseas aforesaid, the term “Lease Year” Tenant, his agents, servants or employees shall mean each consecutive twelve (12) month period during have the Lease Term. At any time during right to come on the Lease Term, Landlord may deliver to Tenant a notice in Premises for the form as set forth in Exhibit C, attached hereto, as a confirmation only purpose of the information set forth taking measurements therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; but for no other purpose, provided, however, Tenant’s failure to execute and return that such notice to Landlord within such time entry shall be conclusive not unreasonably interfere with or obstruct the progress of the work being done by the Landlord. Tenant agrees that upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender receiving possession of the Premises from the Landlord, as aforesaid, it will with due diligence proceed to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant install such fixtures and equipment and perform such other work as shall be necessary or appropriate in order to prepare the Premises for the opening of business, including, but not limited to, the work described in the attached Exhibit C, entitled "Description of Work to one be Performed by Tenant". In the event the Tenant does not commence the operation of its business within ninety (190) day of per diem Base Rent abatement for each day commencing on the day days after the Base Rent Delivery Date and ending on the date Landlord so tenders receiving possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and the Landlord, the Landlord, in addition to any Rent Abatement described in Section 3.2 belowother remedy hereunder, shall have the option of terminating this Lease by giving the Tenant written notice of such termination, whereupon this Lease shall be terminated.
Appears in 1 contract
Lease Term. The terms 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
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. The terms and provisions of this Lease shall be effective as (a) Landlord, in consideration of the date of this Lease. The term of this Lease (rent to be paid and the “Lease Term”) shall commence other covenants and agreements to be performed by Tenant and upon the terms hereinafter stated, does hereby lease, demise and let unto Tenant the Premises, as defined herein and generally outlined on the “Lease Commencement Date,” floor plan attached hereto as that term is set forth in Section 3.2 of the SummaryExhibit A, and Tenant shall terminate have access and use of all common areas and amenities serving the Building, commencing on the “Lease Expiration Date,” as that term is set forth in Section 3.3 Commencement Date and ending, without the necessity of notice from either party to the Summaryother, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that such notice being expressly waived, on the Premises are currently occupied by another tenant last day 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, unless sooner terminated as herein provided.
(b) If the 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 unable to tender possession of the Premises on the anticipated Commencement Date, the Landlord shall not be liable for any damage caused thereby, nor shall this Lease be void or voidable by Tenant; but in such event, unless the delay results (i) from failure of Tenant to provide plans or otherwise perform in accordance with the requirements of the Lease or (ii) from any delay in Landlord's ability to tender possession of the Premises caused by Tenant, no rental shall be payable by Tenant prior to actual tender to Tenant on of possession of the Premises and the date of Substantial Completion. Notwithstanding the foregoing, and provided that any delay in substantially completing the Premises is not attributable to (i) any Tenant delay detailed in Section 7, (ii) the requirements of any Special Tenant Work as defined in Section 7(d), or before January 2(iii) the contingencies in the force majeure provisions of ------------- Section 31, 2015 then, if the Premises are not Substantially Complete within one hundred eighty days (180) of the “Base Rent Delivery anticipated Commencement Date”), Tenant shall have the right to terminate this Lease, by delivering written notice to Landlord not later than one hundred ninety (190) days after the anticipated Commencement Date.
(c) By accepting possession of the Premises as of the Commencement Date, Tenant shall be entitled deemed to one have accepted the same as suitable for the purpose herein intended and to have acknowledged that the Premises comply fully with Landlord's obligations, with the exception of any "punch list" type items in the Tenant Plans which may not have been completed (1or completed properly). Tenant agrees that its failure to deliver to Landlord such a written "punch list" within three (3) day business days after the Commencement Date shall be conclusive proof that no such items exist, except items not reasonably apparent upon a visual inspection of per diem Base Rent abatement for each day commencing on the Premises. Notwithstanding the foregoing, Tenant shall be permitted to enter the Premises not more than two (2) weeks prior to the anticipated Commencement Date to install telephone lines, equipment, computer lines and to move in furniture; provided, however, that (i) Landlord shall designate the day or days on which Tenant may so enter the Premises, (ii) Tenant shall not interfere with the buildout of the Premises, (iii) all waiver and indemnity provisions of this Lease (including, but not limited to, those contained in Section 12) shall apply to such early entry, and (iv) all property placed in the Premises by Tenant shall remain there at Tenant's sole risk. Within three (3) business days after the Base Rent Delivery Date Commencement Date, Tenant agrees to execute and ending on the date return to Landlord so tenders possession a letter prepared by Landlord confirming such date, a copy 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.which is attached hereto as Exhibit B.
Appears in 1 contract
Sources: Lease Agreement (Averstar Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Work Letter), and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during 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 Lease Term is scheduled to expire on August 27, 2015. The Lease Term is hereby extended for a period of this Lease shall be effective nine (9) months, to expire on May 31, 2016 (“New Expiration Date”), subject to earlier termination as described in the Lease. Notwithstanding anything to the contrary contained in Section 34 of the date of this Lease. The term of this Original Lease (the “Lease Term”titled HOLDING OVER) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 or any other provision of the SummaryExisting Lease, and Tenant shall terminate on not have the “Lease Expiration Date,” as that term is set forth in Section 3.3 right to hold over after the expiration or earlier termination of the SummaryLease for any reason, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that without the Premises are currently occupied future express written consent given by another tenant of the BuildingLandlord, which consent may be withheld by Landlord in its sole and absolute discretion. If Landlord is unable for Tenant or anyone claiming through Tenant remains in possession of any reason to deliver possession portion of the Premises beyond the expiration or sooner termination of the Lease as to Tenant on any specific date such space, then or fails to surrender such space upon such expiration or earlier termination to Landlord shall not be subject to any liability for its failure to do soin the condition required by the Lease, and such hold over or failure shall not affect constitute a renewal or extension of the validity of this Lease or a month-to-month tenancy, but instead a tenancy at sufferance. If Tenant fails to vacate and surrender the obligations Premises to Landlord in the condition required by the Lease at the expiration or sooner termination of Tenant hereunder. For purposes of this the Lease, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all claims, demands, losses, liabilities, judgments, costs and expenses (including attorney’s fees) which Landlord may incur as a result of such hold over and failure to surrender, including without limitation all lost rents, lost profits and lost or delayed business opportunities (including without limitation those relating to any delay or prevention in Landlord’s ability to redevelop all or any portion of the project of which the Premises is a part), and Landlord shall be entitled to all other rights and remedies available to a landlord against a tenant wrongfully holding over after the termination of the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Termof a lease without Landlord’s consent. At any time during Tenant acknowledges and agrees that it has no further right to extend or renew the Lease Term, Landlord may deliver to Tenant a notice and that the Option described in the form as set forth in Exhibit C, attached hereto, as a confirmation only Section 37 of the information set forth therein, which Tenant shall execute Original Lease (titled OPTION TO EXTEND THE LEASE TERM) is hereby deleted and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinof no further force or effect. In addition All of Landlord’s rights and remedies under this Section 3 are cumulative and not alternative to the foregoingextent permitted by law, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and are in addition to any Rent Abatement described all other rights and remedies available in Section 3.2 belowlaw and in equity.
Appears in 1 contract
Sources: Lease Agreement (Xenoport Inc)
Lease Term. The terms (a) Tenant shall have and hold the Premises for the term ("Term") identified in the Basic Lease Provisions commencing on the date (the "Commencement Date") which is thirty (30) days after the date on which Landlord notifies Tenant that the Work in the Premises is substantially complete (or is deemed substantially complete pursuant to Paragraph 4(b) of Exhibit "B") and the Building Systems are in good working order as required by Section 19 of this Lease (the "Ready Date"), and shall terminate at midnight on the last day of the Term (the "Expiration Date"), unless sooner terminated or extended as hereinafter provided. Promptly following the Commencement Date, Landlord and Tenant shall enter into a letter agreement in the form attached hereto as Exhibit "C", specifying and/or confirming the Commencement Date and the Expiration Date (and the number of rentable square feet contained within the Premises and the amount of Base Rent payable hereunder, if such numbers as finally determined differ from those set forth in the Basic Lease Provisions).
(b) Landlord shall permit Tenant and Tenant's agents and contractors to enter the Premises on and after the Ready Date, in order to permit Tenant to prepare the Premises for Tenant's occupancy (such entry prior to the Commencement Date referred to herein as the "Early Entry Period". If Landlord permits such entry prior to completion of the Work, then such permission is conditioned upon Tenant and Tenant's agents, contractors, workmen, mechanics, suppliers, and invitees working in harmony and not interfering with Landlord and Landlord's contractors in doing the Work. If at any time such entry shall cause or threaten to cause such interference, Landlord shall have the right to withdraw such permission upon twenty-four (24) hours' oral or written notice to Tenant. Tenant agrees that any such entry into the Premises shall be deemed to be under all of the terms, covenants, conditions, and provisions of this Lease (including, without limitation, all insurance requirements), except as to the covenant to pay Rent hereunder, and further agrees that Landlord shall not be liable in any way for any injury, loss, or damage which may occur to any items of work constructed by Tenant or to other property of Tenant that may be placed in the Premises prior to completion of the Work, the same being at Tenant's sole risk, except and only to the extent caused by Landlord's own negligence or willful misconduct.
(i) Landlord grants to Tenant one option to extend the Term (the "Extension Option") for a period of five (5) years (the "Extension Period"). Tenant's privilege to exercise the Extension Option is expressly conditioned upon Tenant not being in default (following the expiration of all applicable notice and cure provisions) at the time the Extension Option is exercised and not being in default (following the expiration of all applicable notice and cure provisions) between the time the Extension Option is exercised and the start of the Extension Period.
(ii) Tenant shall have the right to exercise the Extension Option by giving written notice (the "Extension Notice") to Landlord no later than nine (9) months and no earlier than twelve (12) months prior to the Expiration Date of the Term. All terms and conditions of this Lease shall continue during the Extension Period, provided that during each Extension Period, the Base Rent shall be effective ninety-five percent (95%) of the Fair Market Rent as of the date of (the "Rent Determination Date") that is nine (9) months preceding the Expiration Date (such Base Rent for the Extension Period being deemed "Renewal Rent").
(iii) As used in this Lease, Fair Market Rent shall mean the effective rental rates then being obtained by tenants in the marketplace for comparable buildings and premises. The effective rental rates shall include consideration of the presence or absence of tenant improvements or allowances existing or to be provided under the lease for such premises, rental abatements, lease takeovers/assumptions, moving expenses and other forms of rental concessions, real estate brokerage commissions, proposed term of this Lease lease, extent of service provided or to be provided under the lease for such premises, the time the particular rate under consideration became or is to become effective and any other relevant terms or conditions.
(iv) In the “Lease Term”event of an exercise of an option by Tenant, Landlord shall notify Tenant of Landlord's determination of the Renewal Rent within thirty (30) shall commence days of the Rent Determination Date and if Landlord and Tenant cannot agree on the “Lease Commencement Date,” Renewal Rent within thirty (30) days thereafter, the Renewal Rent payable during the Extension Period shall be conclusively determined as that term is follows:
(A) Within ten (10) days after the expiration of the thirty (30) day period, each party, at its cost and by giving notice to the other party, shall appoint an unaffiliated MAI designated real estate appraiser with at least five (5) years' full-time commercial appraisal experience in the general vicinity of the Premises (an "Appraiser"), to appraise and determine the then Fair Market Rent as described in this Section.
(B) If one party does not appoint an Appraiser within the time period in Section 2(c)(iv)(A) above, the Appraiser appointed by the other party shall be the sole Appraiser and shall determine the Fair Market Rent.
(C) If neither party appoints an Appraiser within the time period set forth in Section 3.2 of 2(c)(iv)(A), the Summary, and Base Rent during the Extension Period shall terminate on be the “Lease Base Rent payable in the last full month immediately preceding the Expiration Date,” as that term is set forth .
(D) If the two (2) Appraisers are so appointed by the parties, they shall meet promptly and attempt to appraise and determine the Fair Market Rent. If they are unable to agree within thirty (30) days after the second Appraiser has been appointed, they shall attempt to select a third Appraiser who meets the qualifications stated in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (122(c)(iv)(A) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days after the last day the two Appraisers are given to determine the Fair Market Rent. If they are unable to agree on a third Appraiser, either of receipt thereof; providedthe parties to this Lease, by giving ten (10) days' notice to the other party, can apply to the President of the Alameda County Real Estate Board or the presiding judge of the Superior Court for Alameda County for the selection of a third Appraiser who meets the qualifications stated in Section 2(c)(iv)(A). Each of the parties shall bear one-half (1/2) of the cost of appointing the third Appraiser and of the third Appraiser's fees. The third Appraiser, however selected, shall be a person who has not previously acted in any capacity for either party or is not or has not been affiliated with the other appointed Appraisers.
(E) Within thirty (30) days after the selection of the third Appraiser, a majority of the Appraisers shall appraise and determine the Fair Market Rent. If a majority of the Appraisers are unable to so set the Fair Market Rent within the required period of time, the appraisals of the three Appraisers shall be added together and their total divided by three. The resulting quotient shall be the Fair Market Rent.
(F) If, however, Tenant’s failure to execute and return such notice to Landlord within such time the low appraisal or the high appraisal are more than ten percent (10%) lower or higher than the middle appraisal, the low appraisal or the high appraisal shall be conclusive upon Tenant disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total divided by two. The resulting quotient shall be the Fair Market Rent. If two appraisals are disregarded, the remaining appraisal shall be the Fair Market Rent.
(d) Except in connection with an assignment which is to an Altigen Affiliate (as that term is hereinafter defined), the information set forth in such notice Extension Option is as specified thereinnot assignable by Tenant, and any attempted assignment shall be void. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force MajeureAdditionally, if Landlord fails to tender possession subleases (excluding Permitted Transfers) covering more than twenty-five percent (25%) of the Premises to Tenant on or before January 2exist at the time of exercise of the Extension Option, 2015 (the “Base Rent Delivery Date”), Tenant such exercise shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date no force and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 beloweffect.
Appears in 1 contract
Sources: Industrial Lease Agreement (Altigen Communications Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on 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” Month" 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, 5 HCP, INC.[4939 Director's Place][Sorrento Therapeutics, Inc.] 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 1 contract
Sources: Lease (Sorrento Therapeutics, 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
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January February 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) June 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Sources: Lease (CytomX 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. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January February 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) June 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Sources: Sublease (Alector, Inc.)