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 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”) 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 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 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 basic term of this Lease with respect to each Property (the “Basic Term”) shall be effective as begin upon the Property Closing Date for such Property (in each case the “Basic Term Commencement Date”) and shall end on the fifth annual anniversary of the date Initial Closing Date (the “Basic Term Expiration Date”), unless the Basic Term is earlier terminated or the term of this Lease is renewed (as described below) in accordance with the provisions of this Lease. The Notwithstanding the foregoing, Lessee shall not be obligated to pay Basic Rent until the Rent Commencement Date with respect to such Property. To the extent no Default or Event of Default has occurred and is continuing, Lessee may request (by written notice to the Agent, who shall give notice to each Financing Party delivered in each case at least one hundred twenty (120) days prior to the end of the then current term) the extension of the term of this Lease (for all, but not less than all, the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises Properties which are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability the Operative Agreements for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day or two (2) additional terms each of per diem Base Rent abatement one (1) year’s duration from the Basic Term Expiration Date (each, a “Renewal Term”); provided, no such Renewal Term shall be permitted unless expressly agreed to, at the written request of Lessee, in writing by each Lender and each Holder in each such entity’s sole discretion; provided, further, that the expiration date for the final Renewal Term for each day commencing on Property shall not be later than the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession seventh anniversary of the Premises Initial Closing Date, unless such later expiration date has been expressly agreed to, at the written request of Lessee, in writing by each Lender and each Holder in each such entity’s sole discretion. The failure by any Lender or Holder to Tenant. Any respond to any request from Lessee for any Renewal Term within thirty (30) days after receipt of such Base Rent Abatement requests shall be separate deemed a negative response to such request. Pursuant to Section 10.3 of the Participation Agreement, Lessee shall have the option to replace any Lender or any Holder that does not expressly consent within thirty (30) days of a receipt of a request from and Lessee for any Renewal Term in addition to any Rent Abatement described in accordance with the provisions of this Section 3.2 below2.2.
Appears in 2 contracts
Sources: Lease Agreement (Sabre Holdings Corp), Lease Agreement (Sabre Holdings Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the 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 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 term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, as the same may be extended in accordance with the Extension Option Rider attached hereto as Exhibit G and shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Commencement Date and end on the last day of the eleventh full calendar month thereafter and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Expiration Date. At any reasonable time during after the Lease TermCommencement Date (but in any event not to exceed ninety (90) days after the Commencement Date), Landlord may shall deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretohereto (the “Notice of Lease Term Dates”), as a confirmation only of the information set forth therein, which Tenant shall either respond to or execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return in the event Tenant executes and returns such notice to Landlord within such time Notice of Lease Dates the dates set forth therein shall be conclusive and binding upon Tenant. Failure of Tenant to timely respond to or execute and deliver the Notice of Lease Term Dates shall constitute an acknowledgment by Tenant that the information set forth statements included in such notice is as specified therein. In addition to the foregoingare true and correct, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowwithout exception.
Appears in 2 contracts
Sources: Consent to Sublease (Arlo Technologies, Inc.), Office Lease (Arlo Technologies, Inc.)
Lease Term. The terms and provisions of this initial Lease Term shall be effective begin as of the date of Lease Commencement Date and shall continue until fifteen (15) years after the Lease Commencement Date unless sooner terminated or renewed as provided in this Lease. The term Landlord and Tenant shall execute a written acknowledgment of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” Date and the termination date in substantially the form attached hereto as that term is set forth in Section 3.2 of the SummaryExhibit “C”; however, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, execute and deliver such failure acknowledgment shall not affect the validity of this Lease or the obligations of Tenant Tenant’s liability hereunder. For purposes Provided that no Default has occurred and is continuing at the time Tenant elects to extend the Lease Term, Tenant, at its sole option, may extend the Lease Term for two (2) additional periods of ten (10) years each (individually, an “Extension Period”), subject to all the provisions of this Lease, except, however the term “Lease Year” Rent (as defined in Paragraph 5 below) shall mean be adjusted at the commencement of each consecutive twelve Extension Period to an amount equal to the then current fair market rental rate as agreed to by Landlord and Tenant, but in no event shall the Rent be less than the Rent payable on the date immediately preceding the commencement of such Extension Period, plus an escalation of three percent (123%) month period during as provided in Paragraph 5.1.4 below. If after thirty (30) days following delivery of the Lease Termwritten extension notice described in Paragraph 4.2 below, Landlord and Tenant are unable to agree upon the fair market rental value of the Premises, Tenant shall obtain at its expense and deliver to Landlord an independent appraisal of the fair market rental value of the Premises as of the commencement of the Extension Period. At any time during the Lease TermWithin thirty (30) days of its receipt of Tenant’s appraisal, Landlord may elect to obtain at its expense and deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only second independent appraisal of the information set forth thereinfair market rental value of the Premises as of the commencement of the Extension Period. If Landlord elects not to obtain and deliver to Tenant a second appraisal within the required time period, which Tenant shall execute and return to Landlord within ten or if Landlord’s appraisal is no more than five percent (105%) business days of receipt thereof; provided, howevergreater than Tenant’s appraisal, Tenant’s failure to execute and return such notice to Landlord within such time appraisal shall be conclusive upon Tenant that conclusive. If Landlord’s appraisal is more than five percent (5%) greater than Tenant’s appraisal, the information set forth in such notice is as specified therein. In addition two appraisers shall appoint a third appraiser to appraise the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession fair market rental value of the Premises to Tenant on or before January 2as of the commencement of the Extension Period, 2015 (and the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession fair market rental value of the Premises to Tenant. Any such Base Rent Abatement shall be separate from the arithmetical average of the two appraisals closest in their determination of fair market rental value. Landlord and Tenant shall bear equally the expense of the third appraiser. The Monthly Rent as so determined for each Extension Period shall be increased annually by three percent (3%) as provided in addition to any Rent Abatement described in Section 3.2 below.Paragraph 5.1.4
Appears in 2 contracts
Sources: Single Tenant Absolute Net Lease (Guilford Pharmaceuticals Inc), Single Tenant Absolute Net Lease (Guilford Pharmaceuticals Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date (or, if applicable, the last day of the Option Term). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, that if such notice is not factually correct, then Tenant shall make such changes as are necessary to make such notice factually correct and shall thereafter return such notice to Landlord within said ten (10) business day period. Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Sources: Lease (Synthorx, Inc.), Lease (Synthorx, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date 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 (a) This Lease shall become effective upon its delivery, and subject to earlier termination pursuant to the provisions of this Lease, shall have an Initial Term terminating on the last day of the Lessee’s current Fiscal Year.
(b) The Lease Term may be extended, solely at the option of the Lessee, at the end of the Initial Term or any Renewal Term for an additional Renewal Term up to the Maximum Lease Term.
(c) At the end of the Initial Term and at the end of each Renewal Term, the Lessee shall be deemed to have exercised its option to continue this Lease for the next Renewal Term, unless the Lessee delivers written notice to the Lessor no later than March 31 of each year stating the Lessee’s intention to not extend the Lease Term. The Lessee’s option to renew or not to renew this Lease shall be effective as conclusively determined by whether or not the City Council of the date Lessee has, on or before the March 31 immediately preceding the end of the Initial Term or any Renewal Term then in effect, budgeted and appropriated, specifically with respect to this Lease, moneys sufficient to pay all the Rental Payments and reasonably estimated Additional Payments for the ensuing Renewal Term. The City Administrator of the Lessee (or any other officer at any time charged with the responsibility of preparing budget proposals) is hereby directed to include in the budget proposal submitted to the City Council, in any year in which this Lease shall be in effect, items for all payments required for the next ensuing Renewal Term under this Lease; it being the intention of the City Council that the decision to renew or not to renew this Lease shall be made solely by the City Council and not by any other official of the Lessee. The Lessee shall in any event, whether or not this Lease is to be renewed, furnish to the Lessor and the Purchaser copies of its annual budget promptly after the budget is adopted, but in any case no later than 30 days later than the end of each Fiscal Year.
(d) The Lessee’s option to renew or not to renew this Lease may not be exercised at any time during which an Event of Default has occurred and is then continuing under any of the terms of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure that if such Event of Default (money payments excepted) is of such nature that the same is curable but not within the period allowed for curing such Event of Default, then the right of the Lessee to execute and return such notice to Landlord exercise the option hereby granted shall not be suspended if the Lessee shall have promptly commenced within such time period to comply with the provisions of this Lease which shall have been breached by it and if so long as the Lessee shall, with diligence and continuity, proceed to cure such Event of Default.
(e) The Lessee intends, subject to the provisions above respecting the failure of the Lessee to budget or appropriate funds to make Rental Payments and Additional Payments, to continue this Lease Term and to pay the Rental Payments and Additional Payments under this Lease. The Lessee reasonably believes that legally available funds in an amount sufficient to make all Rental Payments and Additional Payments during the Initial Term and each Renewal Term can be obtained. The Lessee further intends to do all things lawfully within its power to obtain and maintain funds from which the Rental Payments and Additional Payments may be made, including making provision for such Rental Payments and Additional Payments to the extent necessary in each proposed annual budget submitted for approval in accordance with applicable procedures of the Lessee and to exhaust all available reviews and appeals in the event such portion of the budget is not approved. Notwithstanding the foregoing, the decision to budget and appropriate funds or to continue the Lease Term is to be made in accordance with the Lessee’s normal procedures for such decisions.
(f) The terms and conditions during any Renewal Term shall be conclusive upon Tenant the same as the terms and conditions during the Initial Term, except that the information Rental Payments and the Option Purchase Price shall be as provided in the schedules set forth in Schedule 4 to this Lease, as such notice is schedules may be revised as specified therein. In addition to provided in the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowIndenture.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease 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 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 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 (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. 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 lease term of this Lease (the “Lease Term”) shall commence on upon the earlier to occur of either (a) the satisfaction of the following listed conditions: (i) the completion of Landlord’s Work (as hereinafter defined), (ii) the completion of Tenant’s Work (as hereinafter defined), and (iii) the issuance of a Certificate of Occupancy by the City of Waltham; or (b) the Rent Commencement Date (as defined in Section 3.1 below) (the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ”) and shall terminate on continue for a period of ten (10) years and nine (9) months after the Rent Commencement Date unless extended or terminated as provided in this Lease (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided”). Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date shall, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days Business Days of receipt thereof; provided, howeverexecute a Commencement Date Certificate substantially similar to the form attached hereto as Exhibit “E” confirming the Lease Commencement Date, Tenant’s failure to execute the Rent Commencement Date and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinExpiration Date. In addition to Notwithstanding the foregoing, subject if and to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession the extent the occurrence of the Premises Lease Commencement Date is delayed beyond December 31, 2006 due to Tenant on or before January 2, 2015 a Landlord Delay (the “Base Rent Delivery Date”as defined in Section 10.1 (d)) of which Landlord has received Landlord Delay Notice (as defined in Section 10.1 (d)), Tenant then the Rent Commencement Date shall be entitled to extended two (2) days for every one (1) day due to such Landlord Delay; and all other dates and time periods for increases in rental rates through the Lease Term, as set forth on Exhibit “C” attached hereto and made a part hereof, shall be extended for an equal number of per diem Base Rent abatement for each day commencing on days. In addition, if and to the day after extent the Base Rent Delivery Date and ending on the date Landlord so tenders possession occurrence of the Premises Lease Commencement Date is delayed beyond February 28, 2007 due substantially and primarily to Tenanta Landlord Delay of which Landlord has received Landlord Delay Notice, Tenant shall have the option to terminate this Lease effective immediately upon written notice to Landlord. Any such Base Rent Abatement If Tenant elects to terminate this Lease, then this Lease shall be separate from null and in addition void and of no further force or effect, except Landlord agrees to immediately return to Tenant any Rent Abatement described in Section 3.2 belowpre-paid rent and/or Security Deposit.
Appears in 2 contracts
Sources: Lease Agreement (Histogenics Corp), Lease Agreement (Histogenics Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease 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 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 or extended as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided. Landlord shall endeavor to provide access to the Premises following vacation of the Premises by the existing Tenant, howeverwhich Landlord anticipates will be March 1, Tenant’s failure 2020. Notwithstanding that such delivery shall occur prior to execute and return such notice the Lease Commencement date, Landlord hereby acknowledges that Tenant shall not be obligated to Landlord within such time shall be conclusive upon Tenant that commence paying Rent under this Lease until the information set forth in such notice is as specified thereinLease Commencement Date. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders has not delivered possession of the Premises to Tenant. Any , (1) on or May 1, 2020, then, as Tenant's sole remedy for such Base Rent Abatement delay, the date Tenant is otherwise obligated to commence payment of shall be separate from and delayed by one day for each day that the delivery date is delayed beyond May 1, 2020, or (2) August 1, 2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be reimbursed to Tenant. The foregoing dates shall be extended to the extent of any delays in addition delivery of possession caused by war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any Rent Abatement described in Section 3.2 belowaction or inaction of Landlord (provided that any such delay shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this 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. (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 (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 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. 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 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 Commencement Date listed in Section 1 of this Lease shall be effective as represents an estimate of the date of this LeaseCommencement Date. The term of this This Lease (the “Lease Term”) shall commence on the “estimated Commencement Date if there is no Landlord's Work required under this Lease. If Landlord's Work is required under this Lease, then this Lease shall commence on the estimated Commencement Date,” Date if Landlord's Work is substantially completed (as that term is set forth used in Section 3.2 the construction industry) by such date, but otherwise the Commencement Date shall be the first to occur of the Summaryfollowing events (i) the date on which Landlord notifies Tenant that Landlord's Work is substantially complete, and shall terminate (ii) the date on the “Lease Expiration Date,” as that term is set forth in Section 3.3 which Tenant takes possession or commences beneficial occupancy of the SummaryPremises, unless or (iii) if substantial completion of Landlord's Work is delayed due to Tenant's failure to perform its obligations under this Lease, then the date determined by Landlord as the date upon which Landlord's Work would have been substantially completed, but for Tena▇▇'▇ failure to perform. If this Commencement Date is later than the Section 1 Commencement Date, this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject void or voidable, nor shall Landlord be liable to Tenant for any liability loss or damage resulting therefrom. Landlord shall confirm the Commencement Date by written notice to Tenant. This Lease shall be for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the a term “Lease Year” shall mean each consecutive twelve (12) month period during the "Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10") business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing beginning on the day after the Base Rent Delivery Commencement Date and ending on the Expiration Date, unless extended or sooner terminated in accordance with the terms of this Lease. All provisions of this Lease, other than those relating to payment of Base Monthly Rent and Tenant's Share of Expenses, shall become effective on the earlier of ▇▇▇ Commencement Date or the date Landlord so tenders possession of that Tenant or its officers, agents, employees or contractors is first present on the Premises to Tenant. Any such Base Rent Abatement shall be separate from and for inspection, construction or move in addition to any Rent Abatement described in Section 3.2 belowpurposes.
Appears in 1 contract
Lease Term. The terms (a) This Lease shall become effective upon its delivery, and subject to earlier termination pursuant to the provisions of this Lease, shall have an Initial Term terminating on the last day of the Lessee’s current Fiscal Year.
(b) The Lease Term may be extended, solely at the option of the Lessee, at the end of the Initial Term or any Renewal Term for an additional Renewal Term up to the Maximum Lease Term.
(c) At the end of the Initial Term and at the end of each Renewal Term, the Lessee shall be deemed to have exercised its option to continue this Lease for the next Renewal Term, unless the Lessee delivers written notice to the Lessor no later than March 31 of each year stating the Lessee’s intention to not extend the Lease Term. The Lessee’s option to renew or not to renew this Lease shall be effective as conclusively determined by whether or not the City Council of the date Lessee has, on or before the March 31 immediately preceding the end of the Initial Term or any Renewal Term then in effect, budgeted and appropriated, specifically with respect to this Lease, moneys sufficient to pay all the Rental Payments and reasonably estimated Additional Payments for the ensuing Renewal Term. The City Administrator of the Lessee (or any other officer at any time charged with the responsibility of preparing budget proposals) is hereby directed to include in the budget proposal submitted to the City Council, in any year in which this Lease shall be in effect, items for all payments required for the next ensuing Renewal Term under this Lease; it being the intention of the City Council that the decision to renew or not to renew this Lease shall be made solely by the City Council and not by any other official of the Lessee. The Lessee shall in any event, whether or not this Lease is to be renewed, furnish to the Lessor and the Purchaser copies of its annual budget promptly after the budget is adopted, but in any case no later than 30 days later than the end of each Fiscal Year.
(d) The Lessee’s option to renew or not to renew this Lease may not be exercised at any time during which an Event of Default has occurred and is then continuing under any of the terms of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure that if such Event of Default (money payments excepted) is of such nature that the same is curable but not within the period allowed for curing such Event of Default, then the right of the Lessee to execute and return such notice to Landlord exercise the option hereby granted shall not be suspended if the Lessee shall have promptly commenced within such period to comply with the provisions of this Lease which shall have been breached by it and if so long as the Lessee shall, with diligence and continuity, proceed to cure such Event of Default within the time referenced in Section 12.1 hereof.
(e) The Lessee intends, subject to the provisions above respecting the failure of the Lessee to budget or appropriate funds to make Rental Payments and Additional Payments, to continue this Lease Term and to pay the Rental Payments and Additional Payments under this Lease. The Lessee reasonably believes that legally available funds in an amount sufficient to make all Rental Payments and Additional Payments during the Initial Term and each Renewal Term can be obtained. The Lessee further intends to do all things lawfully within its power to obtain and maintain funds from which the Rental Payments and Additional Payments may be made, including making provision for such Rental Payments and Additional Payments to the extent necessary in each proposed annual budget submitted for approval in accordance with applicable procedures of the Lessee and to exhaust all available reviews and appeals in the event such portion of the budget is not approved. Notwithstanding the foregoing, the decision to budget and appropriate funds or to continue the Lease Term is to be made in accordance with the Lessee’s normal procedures for such decisions.
(f) The terms and conditions during any Renewal Term shall be conclusive upon Tenant the same as the terms and conditions during the Initial Term, except that the information Rental Payments and the Option Purchase Price shall be as provided in the schedules set forth in Schedule 4 to this Lease, as such notice is schedules may be revised as specified therein. In addition to provided in the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowIndenture.
Appears in 1 contract
Sources: Lease Agreement
Lease Term. 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 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 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 the date of substantial completion of Tenant’s Work (as defined in Exhibit “I” attached hereto), but in any event no later than June 1, 2018, subject to Landlord Delay (the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ”) and shall terminate on continue thereafter unless extended or earlier terminated as provided in this Lease up to and including the date which is one hundred and twenty-six (126) months from the Lease Commencement Date (the “Lease Expiration Date,”). Substantial completion of Tenant’s Work shall be evidenced the receipt of a certificate of full occupancy from the City of Marlborough, Massachusetts. Delivery of possession shall be evidenced by Landlord’s delivery of keys to the Premises to Tenant with Landlord’s Work (as defined in Exhibit “I” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter providedattached hereto) substantially complete. Tenant hereby acknowledges that shall have access to the entire Premises are currently occupied by another tenant upon delivery of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on by Landlord and sixty (60) days prior to the Lease Commencement Date for purposes of performing the Tenant’s Work (as defined in Exhibit “I” attached hereto), installing telephone and communications systems, security equipment, related cabling, moving furniture and other personal property, and for any specific date , then Landlord other matters reasonably related thereto in connection with Tenant’s preparation of the Premises for Tenant’s occupancy (the “Early Access Period”). Tenant shall not be subject required to any liability for its failure to do sopay Rent, 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 Early Access Period, provided, however, Tenant shall be required to pay utilities and all other terms and conditions of the Lease Term. At any time shall be in full force and effect during the Lease TermEarly Access Period. Tenant shall, 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 (as hereinafter defined) 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 a Commencement Date Certificate substantially similar to the foregoing, subject form attached hereto as Exhibit “D” confirming the Lease Commencement Date and the Expiration Date. The Landlord shall not be in breach of this Lease nor be liable to any delays caused by Tenant or any Tenant Parties and events for delay in delivery of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on resulting from delay in completing construction of or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled alterations 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 which Landlord has agreed to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowperform under this Lease or by reason of matters beyond Landlord’s reasonable control.
Appears in 1 contract
Sources: Lease Agreement (Repligen Corp)
Lease Term. (a) The terms “Lease Term” is for a period of time commencing at 12:01 a.m. on the Commencement Date, or on such later date as is provided in subparagraph (c) below, and provisions continuing thereafter through and until 6:00 p.m. on the last day of the month in which the Expiration Date occurs.
(b) If on the Commencement Date the Premises have not been substantially completed due to omission, delay or default by Tenant or anyone acting under or for the Tenant (including, without limitation, Tenant’s default or failure to perform its obligations in a timely manner or any delay resulting from changes to the “Drawings and Specifications” by Tenant ) then Tenant’s obligations under this Lease (including, without limitation, the obligation to pay rent) shall be effective nonetheless commence as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” .
(c) If, due to causes other than as that term is set forth in Section 3.2 of the Summarysubparagraph (b) above, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to does not deliver possession of the Premises to Tenant on any specific date the Commencement Date with the Improvements described in Paragraph 2 of Exhibit B substantially completed, then Landlord this Lease shall not be subject void or voidable, nor shall Landlord be liable to Tenant for any liability for its failure to do soloss or damage resulting therefrom, but in that event rent shall ▇▇▇▇▇ until the date when Landlord does deliver possession in accordance with the terms and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes requirements of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during and the Lease TermTerm shall commence on the date when possession is delivered to Tenant, and in such event the Expiration Date shall occur on the last day of the month that is five (5) years following the date on which the Commencement Date actually occurs. At any time during Notwithstanding the Lease Termforegoing, Landlord may deliver to Tenant a notice however, in the form as set forth in Exhibit C, attached hereto, as a confirmation only event that Landlord does not deliver possession of the information set forth thereinPremises to Tenant, which with the Improvements described in Paragraph 2 of Exhibit B hereof substantially completed, within one hundred fifty (150) days after the date this Lease has been executed by Landlord and Tenant, then Tenant shall execute and return may, at its option, by written notice to Landlord within ten not later than five (105) business days after the expiration of receipt thereof; providedsuch one hundred fifty (150) day period, cancel this Lease, in which event Landlord and Tenant shall each be discharged from their obligations hereunder. Such one hundred fifty (150) day period shall be extended on a day for day basis, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to for any delays caused by Tenant including, without limitation, any delays caused by any changes to the work described in Paragraph 2 of Exhibit B which are caused by Tenant, or any Tenant Parties and events delays caused by Tenant’s early entry under the terms of Force Majeure, if subparagraph (e) hereof.
(d) In the event that Landlord fails to tender cannot deliver possession of the Premises to Tenant on the Commencement Date because of Tenant’s failure to perform its obligations under, or before January 2to pay the amounts specified, 2015 (the “Base Rent Delivery Date”), Tenant this Lease shall be entitled to one (1) day terminable at the sole option of per diem Base Rent abatement for each day commencing on the day Landlord at any time after the Base Rent Delivery Commencement Date and ending on the date prior to Tenant’s performance or payment; and should Landlord so tenders possession elect to terminate this Lease, such termination shall be without prejudice to Landlord’s right to ▇▇▇ Tenant to recover damages for Tenant’s failure to perform its obligations, or to pay amounts due.
(e) Landlord shall permit Tenant to enter the Premises at least two (2) weeks prior to the Commencement Date for the purpose of installing Tenant’s systems furniture and low voltage wiring. Tenant’s entry shall be subject to each of the Premises terms and conditions of this Lease except Tenant’s obligation to Tenantpay Base Rental and Basic Costs shall not commence until the Commencement Date. Any installations made by Tenant during such Base Rent Abatement period shall be separate from at Tenant’s risk, and in addition Landlord shall not be liable for any loss or damage thereto. Tenant’s entry shall not be permitted to any Rent Abatement described in Section 3.2 belowinterfere with or delay Landlord’s construction of the Improvements.
Appears in 1 contract
Sources: Lease Agreement (Danger Inc)
Lease Term. The terms 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. 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 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 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; provided, however, if the existing tenant fails to surrender possession of the Premises to Landlord on or before the scheduled expiration or earlier termination of the existing tenant's lease, then Landlord shall use commercially reasonable efforts to obtain possession of the Premises as soon as reasonably practical thereafter. 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 ▇▇▇▇▇▇'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 this the Lease shall be ---------- effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 5.1 of the Summary, shall commence on the “Lease Commencement Date,” date which is the earlier to occur of (i) the date Tenant opens for business in the Premises, and (ii) the date of "Substantial Completion", as that term is set forth defined in Section 3.2 the Article 2, of the SummaryPremises by Landlord ("Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 5.4 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the eleventh month thereafter and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. For purposes of this Lease, "Substantial Completion" of the Premises shall occur upon completion of construction, as reasonably determined by Landlord, of the "Tenant Improvements," as that term is defined in the Tenant Work Letter, in the Premises pursuant to the plans and drawings which are prepared pursuant to the terms of the Tenant Work Letter, with the exception of any punch list items and any tenant fixtures, work-stations, built-in furniture, or equipment to be installed by Tenant in the Premises pursuant to the terms of the Tenant Work Letter or to be installed under the supervision of "Contractor" as that term is defined in the Tenant Work Letter (the "Tenant Work"). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit CB, attached hereto, as a confirmation only of the information set forth therein, hereto which notice Tenant shall execute and return to Landlord within ten five (105) business days prior of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Office Lease (Venture Catalyst Inc)
Lease Term. The terms 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 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 shall execute and return for any other reason, is unable to Landlord within ten (10) business days of receipt thereof; provided, howevercontinue occupying the Residence. Accordingly, Tenant’s failure obligation to execute pay Rent hereunder (and return such notice the Guarantor(s) obligation to ensure payment of the same) shall continue for the entire Lease Term and until all sums due to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified thereinfull. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.546495.1 015821-0002
Appears in 1 contract
Sources: Rental Agreement
Lease Term. The terms and provisions term ("Term") of this Lease shall be effective as of the date of is stated above in 2 (e), and subject to Tenant's 365-Day and 180-Day Termination Option provided for in this Lease. The term of this Lease (the “Lease Term”) Section 4.1, shall commence on the “Lease Scheduled Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, Date unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant not "Ready for Occupancy" as hereinafter defined, on the Scheduled Commencement Date, in which case the commencement and termination dates of the BuildingLease shall be adjusted accordingly based on the date the Premises are Ready for Occupancy. If Landlord is unable for Excepting Tenant's 365-Day Termination Option and 180-Day Termination Option as they are defined in this Section 4.1, the deferral of Tenant's rental obligation with respect to the Premises shall be in full satisfaction of any reason to deliver possession and all rights which Tenant might otherwise have as a result of the Premises to Tenant on any specific delayed commencement date , then Landlord shall not be subject to any liability of the Lease Term hereof. "Ready for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” Occupancy" as used herein shall mean each consecutive twelve (12) month period during the Lease Term. At any time during date that landlord shall have substantially completed the Lease Term, work to be performed by Landlord may deliver to Tenant a notice in the form as set forth in Exhibit "C, attached hereto", as certified to by Landlord's architect, and a confirmation only Certificate of Occupancy has been issued by the City of Hillsboro, but in no event earlier than July 1, 1998. The date the Premises are Ready for Occupancy shall be the "Commencement Date" of this Lease. If the commencement of the information Lease Term is delayed as aforesaid and the Commencement Date would otherwise occur on a day other than the first day of the month, such Commencement Date shall be further delayed until the first day of the following month and Tenant shall pay proportionate Rent at the same monthly rate set forth thereinherein (also in advance) for such partial month. In the event the Commencement Date is delayed, which the expiration of the Term hereof shall also be delayed so that the Lease Term will continue for the full period set forth above. As soon as the Lease Term commences, Landlord and Tenant shall execute an amendment to this Lease, which may be required by either party, setting forth the exact "Commencement Date" and return expiration date of the Lease Term. Subject to Landlord within ten force majeure (10as defined in Section 4.5 of this Lease) business days and Tenant Delay (as defined in Exhibit "C" of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeurethis Lease), if Landlord fails to tender possession have the Premises Ready for Occupancy within 180 days from the Scheduled Commencement Date specified in Section 2(f) of this Lease, then Tenant shall have the option (exercisable within the thirty (30) day period after the 180th day or such later day determined by operation of the Premises force majeure or Tenant Delay following the Scheduled Commencement Date) to terminate this Lease ("180-Day Termination Option"). Subject to Tenant on or before January 2Delay, 2015 (if Landlord fails to have the “Base Rent Delivery Premises Ready for Occupancy within 365 days from and after the Scheduled Commencement Date”), then Tenant shall have the option (exercisable in writing within the thirty (30) day period after the 365th day following the Scheduled Commencement Date) to terminate this Lease ("365-Day Termination Option"). Excepting the 365-Day and 180-Day Termination Options, this Lease shall not be terminable by Tenant, and Tenant shall in no event be entitled to one (1) day an abatement or reduction of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described except as expressly set forth in Section 3.2 below12.3 or Section 13.1.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary subject, however, to the terms of the Tenant Work Letter, and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Landlord shall grant Tenant hereby acknowledges and “Tenant’s Agents,” as that term is defined in Exhibit B, access to the Premises for the purpose of constructing the “Tenant Improvements,” as that term is defined in the Tenant Work Letter, in accordance with the Tenant Work Letter attached hereto on the business day immediately following the date upon which each of the following has occurred: (l) this Lease has been mutually executed by Landlord and Tenant; (2) Tenant has paid/delivered to Landlord all funds/security due to be paid/delivered by Tenant under this Lease including the Letter of Credit and; (3) Tenant has provided Landlord with a certificate evidencing the insurance required to be procured and maintained by Tenant under Article 10 of this Lease (the “Delivery Date”). It is anticipated that the Delivery Date will occur on the business day immediately following the satisfaction of all the requirements in items 1 through 3 above (the “Anticipated Delivery Date”). Tenant may access the Premises are currently occupied by another tenant on the Delivery Date to construct the Tenant Improvements pursuant to Exhibit B and to install Tenant’s furniture, fixtures and equipment, computer and telephone cabling. During said period of early access Tenant shall be subject to Landlord’s reasonable administrative control and supervision and Tenant shall comply with all of the Buildingprovisions and covenants contained herein. If for any reason Landlord is unable for any reason to deliver possession of grant Tenant access to the Premises to Tenant on any specific date the Anticipated Delivery Date, then Landlord this Lease shall not be subject void or voidable, nor shall Landlord be liable to Tenant for any liability for its failure damage resulting from Landlord’s inability to do sodeliver such possession; provided, and such failure shall not affect the validity however, that given that it is a material part of Tenant’s agreement to enter into this Lease or that Tenant can complete the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice Improvements in the form time and manner as set forth in Exhibit C, attached B hereto, in the event that the Landlord is unable to grant Tenant access to the Premises on the Anticipated Delivery Date, the Lease Commencement Date and the Lease Expiration Date, shall be delayed one day for each day of delay until the Delivery Date occurs. Except as a confirmation only of the information set forth thereinotherwise provided herein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, TenantLandlord’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender give possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.on
Appears in 1 contract
Sources: Office Lease (GoodRx Holdings, Inc.)
Lease Term. The terms and provisions Commencing the earlier of this Lease shall be effective sixty (60) days after completion of Landlord's Work as of the date of this Lease. The term of this Lease described in EXHIBIT "B" (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term which 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, and is incorporated herein by reference for all purposes as a confirmation only if copied at length) and delivery of the information set forth therein, which Demised Premises by Landlord to Tenant shall execute ("COMMENCEMENT DATE"). Landlord will complete Landlord's Work 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 deliver 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 Demised Premises to Tenant on or before January 2November 1, 2015 (2003. If Landlord delivers the “Base Rent Delivery Date”)Demised Premise to Tenant after November 1, 2003, Tenant shall be entitled to one accrue two (12) day days of per diem Base Rent abatement free Minimum Guaranteed Rental for each day commencing on the such day after November 1, 2003, until Landlord delivers the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Demised Premises to Tenant. Any All such Base Rent Abatement accrued Minimum Guaranteed Rental shall be separate from applied towards the last payment(s) of the Lease Term. If the Demised Premises are not delivered to Tenant by December 1, 2003, the Tenant may terminate this Lease if Tenant provides written notice to Landlord before December 8, 2003, of such election; otherwise, Tenant is deemed to accept delivery of the Demised Premises whenever delivered by Landlord, with no free Minimum Guaranteed Rental for any day after November 30, 2003. The Lease Term shall continue for a primary term of five (5) years; provided that if the Commencement Date is a date other than the first day of a calendar month, the Lease Term shall be for said number of years and months in addition to any Rent Abatement described in Section 3.2 belowthe remainder of the calendar month following the Commencement Date. Tenant, at the request of the Landlord, shall execute and deliver a short form of lease and/or estoppel letter specifying the date of commencement and expiration of the Lease Term within thirty (30) days after the Lease Term commences, identical to the Declaration of Lease Term as shown on EXHIBIT "C" (which is attached hereto, and is incorporated herein by reference for all purposes as if copied at length).
Appears in 1 contract
Sources: Purchase and Sale Agreement (Inland Western Retail Real Estate Trust Inc)
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 shall terminate 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 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 or before January 2, 2015 of possession of the Premises.
(c) By occupying the “Base Rent Delivery Date”)Premises, Tenant shall be entitled deemed to one have accepted the same as suitable for the purpose herein intended. Within three (13) day business days 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 delivery of the Premises to Tenant. Any such Base Rent Abatement Tenant by Landlord, ▇▇▇▇▇▇ agrees to execute and return to Landlord a letter prepared by Landlord confirming the Commencement Date, a copy of which is attached hereto as Exhibit B, certifying that ▇▇▇▇▇▇ has accepted delivery of the Premises and that the condition of the Premises complies with ▇▇▇▇▇▇▇▇’s obligations hereunder.
(d) Notwithstanding the foregoing, Tenant shall be separate from permitted to enter the Premises on the Effective Date to install telephone lines, equipment, computer lines and to move in addition furniture and other personal property; provided, however, that (i) Tenant shall not interfere with any work Landlord is performing in the Premises, (ii) all provisions of this Lease (except for the payment of Rent) shall apply to any Rent Abatement described such early entry, and (iii) all property placed in Section 3.2 belowthe Premises by Tenant shall remain there at Tenant’s sole risk.
Appears in 1 contract
Sources: Deed of Lease (Urgent.ly Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1 st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1 st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1 st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof. Notwithstanding the foregoing, if the Lease Commencement Date has not occurred on or before the date that occurs forty-five (45) days after the Anticipated Lease Commencement Date (the “Abatement Date”), then Base Rent shall be abated from and after the Lease Commencement Date for one day for each day that occurs after the Abatement Date and before the Lease Commencement Date; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time the Abatement Date shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused delayed by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on that the day after the Base Rent Delivery Lease Commencement Date and ending on the date Landlord so tenders possession is delayed by an event of “Force Majeure” (as that term is defined in Section 29.16) or by a “Tenant Delay” (as that term is defined in Section 5.2 of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowTenant Work Letter).
Appears in 1 contract
Sources: Lease (Inhibrx, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary (as such date may be extended by Tenant in accordance with the terms of Section 2.2 below), 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 (if it agrees with the information set forth therein) 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 if Landlord has not delivered possession of the Premises, (1) on or before July 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) September 1, 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 reimbursed to Tenant. The foregoing dates shall be extended to the extent of any delays in delivery of possession caused by Tenant or any Tenant Parties and events of Force MajeureDelay, if Landlord fails to tender possession as provided in Section 1(j) of the Premises Tenant Work Letter, war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide of industry-wide labor disputes, inability to Tenant on obtain services, labor, or before January 2materials or reasonable substitutes therefor, 2015 (or delays due to utility companies that are not the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day result 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 action or inaction of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLandlord.
Appears in 1 contract
Sources: Lease (Audentes Therapeutics, Inc.)
Lease Term. The terms and provisions of this A. 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 «Start_Day_of_Month_and_Year_» and end on the
B. In the event 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 Lessor is unable for any reason to deliver possession of the Premises Apartment to Tenant Lessees within seven (7) days of the date specified herein, Lessor shall provide written notice to Lessees designating the date upon which the Apartment will be available for possession. Under such circumstances, Lessees’ only remedies shall be (a) to cancel the Lease, in which case any security deposit, application fee or any other payments paid by or on behalf of Lessees to Lessor for the specific purpose of securing the Apartment will be returned to Lessees; or (b) to accept occupancy at the later date, in which event Lessor shall prorate the rent to that date.
C. If any specific date Lessee vacates the Apartment prior to the end of the Lease term, then Landlord Lessor shall not be obligated to find a replacement Lessee. Unless released from this Lease by Lessor, all undersigned Lessees, including those who have vacated the Apartment during the Term, shall remain subject to any liability for its failure to do so, all terms and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes conditions of this Lease, including all rent or damages owed for the term “Lease Year” shall mean each consecutive twelve (12) month period remainder of the Term.
D. If a Lessee vacates the Apartment during the Lease Term. At any time during the Lease Term, Landlord the remaining Lessees may deliver add a replacement Lessee to Tenant the Lease, provided the proposed replacement Lessee meets the eligibility requirements defined above, has completed an application and has prior written authorization by Lessor. Such replacement Lessee shall be made a party to this Lease through an addendum. The replacement Lessee is required to pay Lessor the portion of the security deposit originally paid by the vacating Lessee (unless notified otherwise in writing by the original Lessees, it will be assumed that each Lessee paid an equal amount of the security deposit). Once the vacating Lessee has vacated the Apartment, remaining Lessees shall allow the Lessor to inspect the Apartment following Lessor’s notice to do so. Vacating Lessee’s portion of the security deposit, minus any charge authorized under this Lease as determined by the inspection discussed in the form as set forth in Exhibit Cprevious sentence, attached hereto, as a confirmation only will be refunded after Lessor has received the replacement Lessee’s portion of the information set forth therein, which Tenant shall execute security deposit. Division of Administration and return to Landlord within ten Finance Campus Services – Housing and Food Bellevue Gardens Lease - 2 (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 thereinver. 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”June 2012), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Lease Agreement
Lease Term. The Subject to the remaining terms of this Section 2.1, the terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first day of a calendar month, then the first Lease Year shall commence on the Lease Commencement Date and end on the day immediately preceding the first anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; providedprovided that if said notice is not factually correct, however, Tenant’s failure then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such time ten (10) business day period. Such modified Notice of Lease Term Dates shall not be conclusive upon Tenant that binding unless Landlord countersigns the information set forth in such notice is as specified thereinwith Tenant’s changes. In addition to If Landlord does not so countersign the foregoingnotice, subject to any delays caused by Tenant or any Tenant Parties Landlord 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 work together in good faith to one (1) day agree upon and mutually execute an acceptable Notice 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 Term Dates.
Appears in 1 contract
Sources: Office Lease (Penumbra Inc)
Lease Term. The terms and provisions of this This Lease shall be effective as continue in force during a period beginning on Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter providedor extended to a later date under any other term or provision hereof. Tenant hereby acknowledges that If this Lease is executed before the Premises are currently occupied become vacant or otherwise available and ready for occupancy by another tenant Tenant, or if any present occupant of the Building. If Premises holds over and Landlord is unable for any reason to deliver cannot acquire possession of the Premises to Tenant on any specific date before the Commencement Date, then Landlord shall not be subject (a) Tenant's obligation to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time pay rent hereunder shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if waived until Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement , (b) the Lease Term shall be separate from extended by the time between the scheduled Commencement Date and the date on which Landlord tenders possession of the Premises to Tenant (which date will then be defined as the Commencement Date), (c) Landlord shall not be in addition default hereunder or be liable for damages therefor, and (d) Tenant shall accept possession of the Premises when Landlord tenders possession thereof to any Rent Abatement described Tenant. By occupying the Premises, Tenant shall be deemed to have accepted the Premises in Section 3.2 belowtheir condition as of the date of such occupancy, subject to the performance of punch-list items that remain to be performed by Landlord, if any. Tenant shall execute and deliver to Landlord, within ten (10) days after Landlord has requested same, a letter confirming (i) the Commencement Date, (ii) that Tenant has accepted the Premises, and (iii) that Landlord has performed all of its obligations with respect to the Premises (except for punch-list items specified in such letter).
Appears in 1 contract
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. (a) The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease (the “Initial Term” and, as the same may be extended, if at all, the “Lease Term”) shall commence with respect to the Lab Premises on July 1, 2018 (the “Lab Premises Commencement Date”), and shall commence with respect to the Office Premises on the “Lease Commencement Date,” earlier of (i) the date on which Tenant takes possession of any part of the Office Premises for purposes of conducting the Tenant’s business therein and (ii) the later of (x) the date on which Landlord delivers possession of the Office Premises to Tenant with Landlord’s Work (as that term is set forth in Section 3.2 Exhibit E) Substantially Completed and (y) July 1, 2018 (the “Commencement Date”) and, unless earlier terminated in accordance with the terms hereof, shall end on June 30, 2021 (the “Expiration Date”). Tenant agrees that in the event of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 inability of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Office Premises to Tenant on or before July 1, 2018 for any specific date reason, then Landlord shall not be subject liable for any damage resulting from such inability, but Tenant shall not be liable for any Rent for the Office Premises (but shall be liable for Rent for the Original Leased Premises as set forth in the last sentence of this Section 2.01(a)) until the time when Landlord can deliver possession of the Office Premises to any liability for its Tenant or when Landlord would have delivered possession of the Office Premises to Tenant absent a Tenant Delay. No such failure to do sogive possession on July 1, and such failure 2018 shall not affect the validity of this Lease or the other obligations of Tenant hereunderunder this Lease. If any delay in Landlord’s ability to Substantially Complete Landlord’s Work or to deliver possession of the Office Premises to Tenant is the result of a Tenant Delay, the Commencement Date and the payment of Rent under this Lease shall be accelerated by the number of days of such Tenant Delay. For purposes of this Leaseclarification, the term Short Term Lease of the Original Leased Premises expires on June 30, 2018, and on such date Tenant shall vacate and surrender the Original Leased Premises (other than the Lab Premises) (“Lease Year” shall mean each consecutive twelve (12Remaining Original Leased Premises”) month period during the Lease Term. At any time during the Lease Term, to Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of condition required by the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofShort Term Lease; provided, however, that, if the Commencement Date under this Lease occurs after July 1, 2018, the expiration date of Tenant’s failure to execute and return such notice to Landlord within such time lease of the Remaining Original Leased Premises under the Short Term Lease shall be conclusive upon Tenant that extended until the information set forth in such notice is as specified therein. In addition date immediately prior to the foregoingCommencement Date under this Lease on the same terms and conditions as provided in the Short Term Lease at a fixed daily rental rate of [***]; provided, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeurefurther, that if Landlord fails has delivered the Office Premises to tender Tenant with Landlord’s Work Substantially Completed (or Landlord would have delivered the Office Premises to Tenant with Landlord’s Work Substantially Completed absent a Tenant Delay) (“Office Premises Delivery Date”) and Tenant remains in possession of the Remaining Original Leased Premises, then Tenant shall pay a fixed daily rental rent of [***] (rather than [***]) for each such day that Tenant remains in possession of the Remaining Original Leased Premises to Tenant on or before January 2, 2015 beyond the date which is five (5) business days after the “Base Rent Office Premises Delivery Date”). Tenant acknowledges that the Commencement Date is July 1, 2018.
(b) Provided that (i) the Lease is in full force and effect; (ii) Tenant is in physical possession and actual occupancy of the entire Leased Premises and has not assigned this Lease or sublet or licensed any of its right, title, and interest in and to the Leased Premises or any portion thereof; and (iii) there shall not exist any default by Tenant under this Lease beyond any applicable notice and cure period, in each case, as of the date that Tenant delivers Tenant’s Interest Notice (as defined below) and as of the first day of the Extension Term, then Tenant shall be entitled to have one (1) day option to extend the then current Lease Term for the entire Leased Premises (but not less than the entire Leased Premises), for a period of per diem Base Rent abatement for each day one (1) year (the “Extension Term”) commencing immediately following the expiration of the Initial Term, on the day after same terms and conditions set forth in this Lease except that Tenant shall have no further right to extend the Base Rent Delivery Date Lease Term. If Tenant elects to exercise the extension option, Tenant shall provide Landlord with written notice of Tenant’s interest in extending the Lease for the Extension Term (“Tenant’s Interest Notice”) no later than one hundred twenty (120) days prior to the expiration of the Initial Term. In the event Tenant fails timely to provide Landlord with Tenant’s Interest Notice with respect to the extension option as required by this Section 2.01(b) or Tenant has no right to extend the Initial Term because Tenant has not satisfied the conditions set forth above in this Section 2.01(b), this Lease shall expire at the end of the Initial Term (i.e., there shall be no extension of the Initial Term) and ending Tenant shall have no further right to extend the Lease Term. In the event Tenant timely provides Landlord with Tenant’s Interest Notice the Lease shall automatically be extended for the Extension Term without the need for any further instrument or agreement and shall be on the date Landlord so tenders possession of same terms and conditions set forth in this Lease except that Tenant shall have no further right to extend the Premises Lease Term. This Extension Right is personal to Tenant. Any such Base Rent Abatement shall Viela Bio, Inc., a Delaware corporation, and may not be separate from and in addition assigned to any Rent Abatement described in Section 3.2 belowother person or entity.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be for approximately the number of months set forth in Section 3.1 of the Summary, shall commence on the date (the “Lease Commencement Date,” as that term ”) which is set forth the earlier to occur of (i) April 1, 2011, or (ii) the date Tenant commences business operations in Section 3.2 of the SummaryPremises, and shall terminate on the date (the “Lease Expiration Date,” as that term ”) which is set forth in Section 3.3 the last day of the Summarysixty-third (63rd) full calendar month following the Lease Commencement Date, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice notice, in substantially the form as set forth in Exhibit C, C attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten fifteen (1015) business days of receipt thereof; provided, however, that Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive proof upon Tenant that the information set forth in such notice is as specified therein. Landlord shall permit Tenant to access and enter the Premises upon the mutual execution of this Lease (the “Early Entry Date”), solely for purposes of installing the Tenant Improvements. In no event may Tenant conduct its business or operations from the Premises until the Lease Commencement Date. Such limited purpose entry and use of the Premises by Tenant shall be at Tenant’s sole risk and shall also be subject to all of the provisions of this Lease including, but not limited to, the requirement to obtain the insurance required pursuant to this Lease and to deliver insurance certificates as required herein, and to pay for all utilities consumed in the Premises on and after the Early Entry Date. Notwithstanding the immediately preceding sentence, Tenant shall not be required to pay Rent (other than any utilities costs incurred) prior to the Lease Commencement Date. In addition to the foregoing, subject Landlord shall have the right to impose such additional conditions on Tenant’s early entry as Landlord shall deem reasonably appropriate. If, at any delays caused by Tenant or any Tenant Parties and events time, there is an Event of Force Majeure, if Landlord fails to tender possession Default that results in termination of the Premises Lease, then any such waiver by Landlord of Tenant’s requirement to Tenant on or before January 2pay rental payments shall be null and void, 2015 (and as a component of Landlord’s recovery set forth in Article 19 of the “Base Rent Delivery Date”)Lease, Tenant shall be entitled immediately pay to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord all rental payments so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowwaived by Landlord.
Appears in 1 contract
Lease Term. The terms renovation and provisions construction term (the "Construction ---------- Term") of this Lease shall be effective as of commence on 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 Landlord's delivery of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do soin accordance with, and such failure shall not affect in the validity of this Lease or the obligations of Tenant hereunder. For purposes of condition specified in this Lease, and shall end on the "Rent Commencement Date" (as defined in paragraph 4 below). The main term “Lease Year” shall mean each consecutive twelve (12the "Main Term") month period during of the Lease shall commence on the Rent Commencement Date and shall end on the last day of January following the twentieth (20th) anniversary of the Rent Commencement Date. In addition to the Main Term. At , so long as Tenant is not then in default under this Lease beyond any time during applicable cure period, Tenant shall have the option (each such right referred to herein as a "Renewal Option") to renew and extend the Lease for two (2) consecutive five (5) year periods (each such period referred to as an "Option Period" and collectively as the "Option Periods") immediately following the Main Term, at the Base Rent specified below. Tenant shall give Landlord may deliver written notice of its election to Tenant a notice in exercise any Renewal Option at least one hundred eighty (180) days prior to the form as set forth in Exhibit C, attached heretoexpiration of the Main Term or any then-current Option Period, as a confirmation only applicable; provided, however, that in order to avoid any forfeiture or inadvertent lapse of the information set forth thereinsuch Renewal Option, which if Tenant shall execute fail to give any such notice within the one hundred eighty (180) day time limit and return shall not have given Landlord prior written notice of its intent not to Landlord within exercise its Renewal Option, then and as often as the same shall occur, Tenant's right to exercise such Renewal Option shall nevertheless continue, as shall its tenancy hereunder (under the same terms and conditions as theretofore in effect and notwithstanding that the Main Term or then-current Option Period shall have expired), until ten (10) business days after Landlord shall have given Tenant a written notice of receipt thereof; providedLandlord's election to terminate the Renewal Option, howeverduring which period Tenant may exercise its Renewal Option at any time prior to the expiration of such ten (10) business day period. Upon the giving of notice of renewal and extension in accordance with the foregoing provisions, Tenant’s failure to execute the Term (defined below) of this Lease shall thereupon be renewed and return extended in accordance with such notice to without further act by Landlord within such time shall be conclusive upon Tenant that or Tenant, the information set forth in same as if 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 Tenanthad been timely given hereunder. Any such Base Rent Abatement termination, expiration, cancellation or surrender of this Lease shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowterminate all Renewal Options.
Appears in 1 contract
Sources: Lease (First Capital Institutional Real Estate LTD 4)
Lease Term. The terms basic term of this Lease with respect to the Property (the “Basic Term”) shall begin upon the Commencement Date and provisions shall end six years and eleven months after the Closing Date (the “Basic Term Expiration Date”), unless the Basic Term is renewed or earlier terminated. The obligations of the parties under this Lease shall not commence until the Commencement Date. To the extent no Lease Default or Lease Event of Default has occurred and is continuing as of the Basic Term Expiration Date or the last day of the immediately preceding Renewal Term, as applicable, Lessee may, not less than three hundred sixty (360) days and no more than seven hundred twenty (720) days prior to the Basic Term Expiration Date or the last day of the first or second (but not the third) Renewal Term, if any, by irrevocable notice to Lessor, the Lenders and the Agent make written request to extend the Expiration Date for an additional period in each such Renewal Term of five (5) years. Lessor, each Lender and the Agent shall each make a determination, in the absolute and sole discretion of each such party, within ninety (90) days of receiving a request from Lessee to renew the term of this Lease as to whether or not such party will agree to renew the term of this Lease as requested; provided, however, that failure by any such party to make a timely response to Lessee’s request to renew the term of this Lease shall be effective as of deemed to constitute a refusal by such party to renew the date term of this Lease. The In response to a request to renew the term of this Lease, if (a) Lessor, each Lender and the Agent shall each agree to the requested renewal of the term of this Lease by delivering written confirmation of such acceptance of renewal of the term of this Lease to the Agent, Lessee and Lessor, then the Lease shall be renewed and shall expire on the date which is six years and eleven months after the then current Expiration Date or (b) Lessor, any Lender or the “Lease Agent shall refuse (or deem to have refused) to agree to the requested extension, then the Term shall not be extended and shall expire on the then current Expiration Date and unless the Lessee properly makes an election pursuant to Section 20.1, the Lessee shall be deemed to have elected the Purchase Option which shall be exercised on the then current Expiration Date. Each Renewal Term”) , if any, shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 day immediately following the Basic Term Expiration Date or the last day of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease first or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease second Renewal Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowapplicable.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Work Letter), and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during , provided that the last Lease Year shall end on the Lease TermExpiration Date. Landlord shall make possession of the Premises available to Tenant no later than ten (10) business days after the date of the full execution and delivery of this Lease by Landlord and Tenant and upon Tenant’s satisfaction of its obligations in Section 10.3.6 regarding delivery of certificates of insurance and Tenant’s payment of the first month’s Base Rent and the Security Deposit (collectively, the “Delivery Conditions”). In the event the Delivery Conditions are satisfied but Landlord does not make possession of the Premises available to Tenant on or before the expiration of such ten (10) business day period, then Tenant shall have the right to terminate this Lease by providing Landlord with written notice of such termination at anytime prior to Landlord making possession of the Premises available to Tenant with such termination to be effective upon Landlord’s receipt of such termination notice. Upon such termination of this Lease, Landlord may shall return the Security Deposit and any pre-paid Base Rent to Tenant and the parties shall be released from all obligations under this Lease except for those obligations which expressly survive the expiration or sooner termination of this Lease. Upon the occurrence of the Lease Commencement Date set forth in Section 7.2 of the Summary, within a reasonable period of time after the date Tenant takes possession of the Premises, Landlord shall deliver to Tenant a notice an amendment to lease in the form attached hereto as set forth in Exhibit C, attached heretosetting forth the Lease Commencement Date and the Lease Expiration Date, as a confirmation only of the information set forth therein, which and Tenant shall execute and return such amendment to Landlord within ten (10) business days of receipt thereof; provided, however, after Tenant’s failure receipt thereof (provided that if said notice is not factually correct, then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 ten (the “Base Rent Delivery Date”10) business day period), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Office Lease (Legalzoom Com 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”"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, provided that if the Lease Commencement Date occurs on other than the first day of a month, the first “Lease Year” shall commence on the Lease Commencement Date and end on the last day of the month in which the first anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first day of a calendar month, then the first Lease Year shall commence on the Lease Commencement Date and end on the day immediately preceding the first anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided. Notwithstanding the foregoing, howeverif the Early Occupancy Date (as defined in Section 2.1.2 below) has not occurred, (1) on or before March 20, 2024, then, as Tenant’s failure sole remedy for such delay, the date Tenant is otherwise obligated to execute and return commence payment of rent as to the Early Occupancy Space after the Lease Commencement Date shall be delayed by one day for each day that the Early Occupancy Date is delayed beyond such date, or (2) September 1, 2024, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord within such time shall be conclusive upon ▇▇▇▇-▇▇▇▇-▇▇▇▇.7371310.00016/10-2-23/gjn/gjn -7- [Britannia Oyster Point][Pliant Therapeutics] reimbursed to Tenant. In addition, notwithstanding the foregoing, if Landlord has not delivered possession of the remainder of the Premises (other than the Early Occupancy Space) Substantially Complete on or before September 15, 2024, then, as ▇▇▇▇▇▇’s sole remedy for such delay (but subject to the terms of the preceding sentence), the date Tenant is otherwise obligated to commence payment of rent as to the portion of the Premises on the first floor of the Building shall be delayed by one day for each day that the information delivery date is delayed beyond such date. All of the foregoing dates shall be extended to the extent of any delays in delivery of possession caused by (i) Tenant Delay, as provided in Section 5.2 of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay shall not extend any such date by more than fifteen (15) days, other than the date set forth in such notice is as specified therein. In addition item (2) above which may be extended up to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 thirty (the “Base Rent Delivery Date”30) days), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Lease (Pliant Therapeutics, Inc.)
Lease Term. The terms and provisions of this initial Lease Term shall be effective begin as of the date of Lease Commencement Date and shall continue until ten (10) years after the Lease Commencement Date unless sooner terminated or renewed as provided in this Lease. The term of this Lease (Provided that no Default has occurred and is continuing at the “time Tenant elects to extend the Lease Term”, Tenant, at its sole option, may extend the Lease Term for three (3) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 additional periods of the Summaryfive (5) years each (individually, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summaryan "Extension Period"), unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect all the validity of this Lease or the obligations of Tenant hereunder. For purposes provisions of this Lease, except, however, the term “Lease Year” Monthly Rent (as defined in Paragraph 5 below) shall mean be adjusted at the commencement of each consecutive twelve Extension Period to an amount equal to the then current fair market rental rate if the then current fair market rental rate is more one hundred ten percent (12110%) month period during or less than ninety percent (90%) of the Lease TermMonthly Rent then currently payable. At any time during Otherwise, such rent shall be adjusted to the Lease TermMonthly Rent payable immediately preceding the commencement of such Extension Period, plus 3%. If, after thirty (30) days following delivery of the written extension notice described in Paragraph 4.2 below, Landlord and Tenant are unable to agree upon the fair market rental value of the Premises, Tenant shall obtain at its expense and deliver to Landlord an independent appraisal of the fair market rental value of the Premises as of the commencement of the Extension Period. Following its receipt of Tenant's appraisal, Landlord may elect to obtain at its expense and deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only second independent appraisal of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession fair market rental value of the Premises as of the commencement of the Extension Period. If Landlord elects not to Tenant on obtain a second appraisal, or before January 2if Landlord's appraisal is no more than five percent (5%) greater than Tenant's appraisal, 2015 (the “Base Rent Delivery Date”), Tenant Tenant's appraisal shall be entitled conclusive. If Landlord's appraisal is more than five percent (5%) greater than Tenant's appraisal, the two appraisers shall appoint a third appraiser to one (1) day of per diem Base Rent abatement for each day commencing on appraise the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession fair market rental value of the Premises to Tenant. Any such Base Rent Abatement as of the commencement of the Extension Period, and the fair market rental value of the Premises shall be separate from the arithmetical average of the two appraisals closest in their determination of fair market rental value. Landlord and Tenant shall bear equally the expense of the third appraiser. The Monthly Rent as so determined for each Extension Period shall be increased annually by three percent (3%) as provided in addition to any Rent Abatement described in Section 3.2 belowParagraph 5.
Appears in 1 contract
Sources: Single Tenant Lease (Illumina Inc)
Lease Term. (a) This Lease shall commence on the Effective Date and continue for the total period(s) of the Preliminary Term and any Production Term. The terms "Preliminary Term shall commence upon the Effective Date and provisions continue until the earliest of (i) the third anniversary of the Effective Date, (ii) the commencement of any Production Term, or (iii) termination by Lessee in accordance with paragraph 15(b). If a Production Term has not commenced by the third anniversary of the Effective Date this Lease shall expire and terminate.
(b) At any time prior to the expiration of the Preliminary Term Lessee may elect to extend the term of this Lease for a period of up to 30 years (the "Production Term) by delivering notice of such election to Lessee. The commencement date and period of any Production Term shall be as specified in such notice, provided, however, that said commencement date may not be later than the third anniversary of the Effective Date. Unless earlier terminated pursuant to Paragraph 15(b) this Least shall expire and terminate at the end of the period of any production term. Notwithstanding the period of the Production Term specified in Lessee's notice of election of a Production Term, and unless terminated pursuant to Paragraph 15(b), if production of Leased Substances is established or maintained during any Production Term, then the term of this Lease shall continue for so long thereafter as any of the Leased Substances are being produced, sold or utilized from the Leased Land or lands pooled, unitized or combined therewith, up to a maximum of 34 years from the Effective Date.
(c) lf, prior to the end of the Preliminary Term or any Production Term this Lease, or a portion thereof, is committed to any cooperative plan, unitization agreement, or unit plan as set forth in Paragraph 6 the term of this Lease shall be effective as continued for the term of the date cooperative plan, unitization agreement, or unit plan, or as otherwise provided by law ("Unitization Term"). In the event all or a portion of this Leasethe Lease is segregated from such cooperative plan, unitization agreement, or unit plan, or the plan or agreement terminates, then the segregated or terminated portion of the Lease shall continue In force and effect for the remainder of the Preliminary Term or Production Term, as applicable, or for 2 years from the ▇▇▇▇ of segregation, or termination, whichever is longer. The In no event shall 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 belowexceed 34 years.
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” 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 Equipment is leased for a Primary Term as defined herein, unless and provisions until the term of this Lease shall expire, be effective as of the date of this Leaseextended or be terminated pursuant to any provision hereof. The term of this Lease (the “Lease Term”) Primary Term shall commence on the “Lease Commencement Date,” and expire as that term is described in Section 1 herein, and more particularly set forth in the Rental Schedule, marked "Schedule (A)" and attached hereto. Lessee may extend the lease term of each item of Equipment for the extended term specified in Section 3.2 22 hereof, by giving Lessor written notice of Lessee's intention to so extend at least 90 days prior to the expiration of the SummaryPrimary Term and each succeeding extended term, and shall terminate on provided that at the “Lease Expiration Date,” as that term is set forth in Section 3.3 time of the Summary, unless this Lease giving of such notice no Event of Default has occurred and is continuing and provided that the lease term of such item of Equipment has not been sooner terminated as hereinafter providedaforesaid. Tenant Lessee hereby acknowledges that authorizes Lessor to insert the Premises are currently occupied Lease Commencement Date for an item of Equipment on the Rental Schedule therefor when such item has been accepted by another tenant of the BuildingLessee for lease hereunder. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of The words "lease term" as used in this Lease or the obligations of Tenant hereunder. For shall, for all purposes of this Lease, and unless the context otherwise requires, be deemed to include each extended term “referred to in Section 22.
(a) This Lease Year” is a net lease and Lessor shall mean invoice Lessee for the amount of each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as Basic Rent payment set forth in Exhibit Cthe Rental Schedule no earlier than thirty (30) days prior to the specified payment date therefor, attached heretoand Lessee shall pay to Lessor within thirty (30) days following receipt of Lessor's invoice, such amount set forth in the Rental Schedule at Lessor's address set forth above, or at such other address or to such other person or entity as a confirmation only Lessor, from time to time, may designate in writing.
(b) Lessee shall also pay to Lessor, in lawful money of the information set forth thereinUnited States, all amounts which Tenant Lessee is required to pay pursuant to this lease (other than Basic Rent) together with every fine, penalty, interest and cost which may be added for non-payment or late payment thereof. Such amounts shall execute constitute additional rent. If Lessee shall fail to pay any additional rent, Lessor shall have the right to pay the same and return shall have all rights, powers and remedies with respect thereto as are provided herein or by law in the case of nonpayment of Basic Rent. Lessee shall pay to Landlord within Lessor interest at two and a half percent (2 1/2%) plus the Prime Interest Rate per annum which shall be defined as the best rate then charged by The Chase Manhattan Bank of New York for loans to substantial commercial borrowers, or the maximum per annum rate permitted by law on all overdue Basic Rent from ten (10) business days following Lessee's receipt of receipt thereof; providedLessor's written notice of non-payment until paid, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused on all overdue additional rent paid by Tenant or any Tenant Parties and events Lessor on behalf of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on Lessee from the date Landlord so tenders possession of the Premises to Tenantpayment by Lessor until repaid by Lessee. Any such Base Lessee shall perform all its obligations under this Lease at its sole cost and expense, and shall pay all Basic Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowadditional rent when due, without further notice or demand.
Appears in 1 contract
Sources: Master Equipment Lease Agreement (American Income Partners v a LTD Partnership)
Lease Term. The Subject to the terms, covenants, agreements and conditions contained herein, Tenant shall have and hold the Leased Premises for the Lease Term (defined in the Reference Data section), commencing on the Commencement Date and terminating on the last day of the month in which the date immediately preceding the applicable anniversary of the "Commencement Date" shall occur (the "Expiration Date"), unless sooner terminated pursuant to any of 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 conditions of this Lease or pursuant to law. The "Commencement Date" shall be the obligations later to occur of (i) the Specified Commencement Date (defined in the Reference Data section) or (ii) the date on which Landlord's Initial Construction (defined in Section 11(a)) is Substantially Complete (as defined in Schedule A), and in any event on the date on which Tenant hereunder. For occupies any portion of the Leased Premises for its business purposes, which shall not include entry for purposes of preparing the Leased Premises for occupancy. In the event Landlord fails to deliver the Leased Premises to Tenant with the Landlord's Initial Construction Substantially Completed on or prior to June 24, 2000 then Tenant may cancel this Lease, without further liability of Tenant to Landlord upon seven (7) days written notice from Tenant to Landlord; provided however, that if, within two (2) business days after receipt of such notice, Landlord provides evidence reasonably satisfactory to Tenant that the term “Leased Premises shall be available for occupancy in accordance with this Lease Year” shall mean each consecutive twelve (12) month period during prior to July 15, 2000, then Tenant agrees to revoke such termination as long as the Lease TermLeased Premises are so delivered. At any time during After the beginning of the Lease Term, Landlord may deliver to and Tenant shall, upon the request of either, execute a notice in letter agreement or other acknowledgment specifying the form as set forth in Exhibit C, attached hereto, as a confirmation only of dates on which the information set forth therein, which Tenant shall execute Lease Term begins 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 belowends.
Appears in 1 contract
Sources: Lease (Biosphere Medical 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 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 determined in accordance with Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is set forth date determined in accordance with Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is set forth date determined in accordance with 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. This Lease shall not be void, voidable or subject to termination, nor 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. 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 five (5) days of receipt thereof. Notwithstanding the foregoing, if the Substantial Completion (as defined in Section 5.1 of the Tenant Work Letter) of the Premises fails to occur on or before the later of July 1, 2018 or that date which is ten (10) business days months following the date the Permits (as defined in Section 3.4 of receipt thereof; provided, however, Tenant’s failure to execute the Tenant Work Letter) are obtained and return such notice delivered to Landlord within (the "Outside Substantial Completion Date"), as such time failure shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition extended to the foregoing, subject to extent of any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession Majeure (as defined in Section 29.16 below) or Tenant Delays (as defined in Section 5.2 of the Premises to Tenant on or before January 2Work Letter), 2015 (the “Base Rent Delivery Date”)then as Tenant's sole and exclusive remedy, Tenant shall be entitled to receive one (1) day of per diem Base Rent abatement credit for each day commencing on beyond the day after Outside Substantial Completion Date that the Base Rent Delivery Date and ending on the date Landlord so tenders possession Substantial Completion of the Premises fails to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowoccur.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of execution of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The initial term of this Lease (the “Lease Term”) shall commence be for a five (5) year period commencing on the “Lease Commencement Date,” as that term is set forth in Section 3.2 earlier of (i) sixty (60) days after 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 date Landlord is unable for any reason to deliver delivers possession of the Premises to Tenant with Landlord’s Work Substantially Complete (the “Lease Commencement Date”), or (ii) the date Tenant opens for business in the New Premises, and expiring on any specific date the last day of the calendar month in which the fifth (5th) anniversary of the Lease Commencement Date occurs (or, if the Lease Commencement Date occurs on the first (lst) day of a calendar month, then expiring on the day immediately prior to the date upon which the fifth (5th) anniversary of the Lease Commencement Date occurs). Tenant’s obligation to pay Rent shall commence upon the Lease Commencement Date, except as otherwise expressly provided in Section 3.1 below. Landlord anticipates that L▇▇▇▇▇▇▇ will deliver possession of the Premises with L▇▇▇▇▇▇▇’s Work Substantially Complete on or about the date that is twenty (20) days from the date of the mutual execution and delivery of this Lease (the “Estimated Lease Commencement Date”). This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any liability for its failure loss or damage, resulting from Landlord’s inability to do so, and such failure shall not affect deliver the validity of this Premises to Tenant with Landlord’s Work Substantially Complete (or in fact to deliver the Premises to Tenant at all) by the Estimated Lease Commencement Date or the obligations of Tenant hereunderby any other date. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during Following the Lease Term. At any time during the Lease TermCommencement Date, Landlord may deliver to Tenant a notice in of Lease Term dates confirming the form as set forth in Exhibit C, attached hereto, as a confirmation only of Lease Commencement Date and that L▇▇▇▇▇▇▇ has completed Landlord’s Work and Tenant has accepted the information set forth thereinPremises, which notice Tenant shall execute and return to Landlord within ten five (105) business days of after T▇▇▇▇▇’s 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 this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not deliver possession of the Premises to Tenant a notice in Ready for Occupancy on or before the form anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the Summary), Landlord shall not be subject to any liability nor shall the validity of this Lease nor the obligations of Tenant hereunder be affected. If the Lease Commencement Date is a date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) of the Summary, then, following the Lease Commencement Date, Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, as a confirmation only of setting forth, among other things, the information set forth thereinLease Commencement Date and the Lease Expiration Date, which and Tenant shall execute and return such amendment to Landlord within ten five (105) business days of after Tenant’s receipt thereof; provided, however, Tenant’s failure . If Tenant fails to execute and return such notice to Landlord the amendment within such time 5-business day period, Tenant shall be conclusive upon deemed to have approved and confirmed the dates set forth therein, provided that such deemed approval shall not relieve Tenant that of its obligation to execute and return the information amendment (and such failure shall constitute a default by Tenant hereunder). If Landlord does not deliver such amendment to Tenant, the Lease Commencement Date shall be deemed to be the anticipated Lease Commencement Date set forth in such notice is as specified thereinSection 7.2(ii) of the Summary. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession event that Substantial Completion of the Premises to Tenant on or before January 2has not occurred by August 1, 2015 2016 (the “Base Rent Delivery First Outside Date”), as such First Outside Date may be extended by the number of days of Tenant shall be entitled Delays (as defined in the Tenant Work Letter) and by the number of days of Force Majeure events (as defined in Section 24.17 hereof), then Landlord agrees to provide Tenant with one (1) day of per diem abatement of Base Rent abatement for each one (1) day commencing on past the day after the Base Rent Delivery First Outside Date and ending on the (as such date Landlord so tenders possession may be extended as provided above) that Substantial Completion of the Premises has failed to occur. In addition, in the event that Substantial Completion of the Premises has not occurred by the “Second Outside Date,” which Second Outside Date shall be September 1, 2016, as such Second Outside Date may be extended by the number of days of Tenant Delays and by the number of days of “Force Majeure” events, then the sole remedy of Tenant shall be the right to deliver a notice to Landlord (the “Second Outside Date Termination Notice”) electing to terminate this Lease effective upon receipt of the Second Outside Date Termination Notice by Landlord (the “Effective Date”). Except as provided herein below, the Second Outside Date Termination Notice must be delivered by Tenant to Landlord, if at all, not earlier than the Second Outside Date and not later than five (5) business days after the Second Outside Date. If Tenant delivers the Second Outside Date Termination Notice to Landlord, then Landlord shall have the right to suspend the Effective Date for a period ending thirty (30) days after the original Effective Date. In order to suspend the Effective Date, Landlord must deliver to Tenant, within five (5) business days after receipt of the Second Outside Date Termination Notice, a certificate of the Contractor (as defined in the Tenant Work Letter) certifying that it is such Contractor’s best good faith judgment that Substantial Completion of the Premises will occur within thirty (30) days after the original Effective Date. Any such Base Rent Abatement If Substantial Completion of the Premises occurs within said thirty (30) day suspension period, then the Second Outside Date Termination Notice shall be separate from of no further force and in addition effect; if, however. Substantial Completion of the Premises does not occur within said thirty (30) day suspension period, then this Lease shall terminate as of the date of expiration of such thirty (30) day period. Upon termination of this Lease pursuant to any Rent Abatement described in this Section 3.2 below2.1. the parties shall be relieved of all further obligations under this Lease except for those obligations under this Lease which expressly survive the expiration or sooner termination of this Lease.
Appears in 1 contract
Lease Term. (a) The terms and provisions initial term (“Initial Term”) of this Lease shall be effective as of the date of for [number] years commencing on [date] (“Commencement Date”), and ending on [date], unless sooner terminated according to this Lease. The .
(b) Tenant shall have the option to extend the term of this Lease for [number] years following the expiration of the Initial Term on all of the terms and conditions in this Lease, except that during that extended term, Tenant shall not have the further option to extend the term in this Section 2(b) and the rent during that extension term shall be $[dollar amount] per month. To exercise this option, Tenant must give Landlord written notice of exercise of the option (the “Lease TermOption Notice”) shall commence on no earlier than [number] months and no later than [number] months prior to the “Lease Commencement Date,” as that term is set forth in Section 3.2 expiration of the SummaryInitial Term. However, if, as of Landlord’s receipt of the Option Notice, Tenant is in default under this Lease, or has committed or failed to perform acts that with the giving of notice or the lapse of time would constitute a default under this Lease (“Potential Default”), the Option Notice shall be totally ineffective. If after giving the Option Notice, Tenant is in default under this Lease, or if a Potential Default has occurred, and shall terminate on the “Lease Expiration Date,” that default or Potential Default remains uncured as that term is set forth in Section 3.3 of the Summaryexpiration of the Initial Term, unless this Lease is sooner terminated shall, at the election of Landlord, terminate as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. expiration of the Initial Term.
(c) If Landlord is unable for any reason fails to deliver possession of the Leased Premises to Tenant on any specific date by the Commencement Date, then Landlord shall not be subject to liable for any liability for its damages resulting from that failure, nor shall that failure to do so, and such failure shall not affect the validity cause a termination of this Lease or Tenant’s obligations under this Lease, except as otherwise permitted under this Section, nor shall that failure extend the obligations of Tenant hereunder. For purposes term of this Lease, . If Landlord has not delivered possession of the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver Leased Premises to Tenant a within [number] days after the Commencement Date, Tenant may, however, cancel this Lease, by written notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days after the end of receipt thereofthe [number] day period; in that case, the parties shall be discharged from all obligations under this Lease, provided, however, Tenant’s failure to execute and return such that if the written notice to of Tenant is not received by Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 ten (the “Base Rent Delivery Date”)10) day period, Tenant shall be entitled have no further right to one (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 belowterminate this Lease.
Appears in 1 contract
Sources: Industrial Lease
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall 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 Agreement (Surrozen, Inc./De)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 : September 1, 1996 or Substantial Completion of the SummaryPremises, whichever occurs later. Landlord and Tenant shall terminate mutually agree upon a schedule (the "Lease and Construction Schedule") which details the dates on which all necessary lease and construction documents will be completed so as to permit Landlord to substantially complete the “Premises for Tenant's occupancy by the Lease Expiration Commencement Date,” . The Lease and Construction Schedule is attached to the lease as that term is set forth in Section 3.3 Exhibit F. Landlord shall make a good faith effort to make approximately 6,000 to 8,000 rentable square feet of the SummaryPremises (the "Early Occupancy Space") available for Tenant's occupancy by August 15, unless this Lease is sooner terminated as hereinafter provided1996. Tenant hereby acknowledges that the Premises are currently The Early Occupancy Space may be occupied by another tenant Tenant with a temporary occupancy permit (to the extent such occupancy is allowed by the local jurisdiction) and such occupancy will not be considered a tender of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord for purposes of establishing the Lease Commencement Date. Any such early occupancy shall not be subject to any liability for its failure to do soall of the terms, covenants and such failure shall not affect the validity conditions of this Lease or except for the obligations payment of Tenant hereunderRent and additional rent. For purposes of this Lease, In no event shall the term “Lease Year” shall mean each consecutive twelve lease commence until the Leasehold Improvements (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth defined in Exhibit C), attached heretowith the exception of minor punch list items and Tenant approved long lead items, are substantially completed in accordance with Tenant's Plan (as defined in Exhibit C), and Landlord has obtained a confirmation only certificate occupancy or certificate of temporary occupancy. Landlord shall give Tenant thirty (30) days prior written notice of the information approximate date of substantial completion. Lease Expiration Date: Eighty - Four (84) months after Lease Commencement Date. In the event the Lease Commencement Date is a date other than the first day of a calendar month, the Lease Term shall run for the number of months set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that above from the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession first day of the Premises to Tenant on or before January 2, 2015 (calendar month following the “Base Rent Delivery Lease Commencement Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Sources: Lease (Ace Comm Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January February 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) June 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Sources: Lease (CytomX Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease October 1, 2016 ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the SummaryDecember 31, 2023 unless this Lease is sooner terminated as hereinafter provided. In the event that Tenant hereby acknowledges that does not vacate the Premises are currently occupied by another tenant of upon the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease expiration or the obligations of Tenant hereunder. For purposes termination of this Lease, Tenant shall be deemed in default of this Lease, and Landlord may commence eviction proceedings. Notwithstanding anything in this Lease to the contrary, Landlord shall have the option, in case of any such holding over, to convert the Lease term from a fixed term to a tenancy at will, in which case the term “Lease Year” shall mean each consecutive twelve will continue and no eviction proceedings commenced until the tenancy at will is terminated. Whether or not Landlord opts to convert the term to a tenancy at will, Tenant will be liable, during any holding over period, for base rent in an amount equal to one and a quarter (121.25) month times the Base Rent which would have been payable by Tenant had the holdover period during been a part of the Lease Termoriginal term of this Lease, together with all additional rent as provided in this Lease. At Because rent will accrue with respect to any time during holdover period in any event, no acceptance of rent by Landlord will be deemed an election to convert the Lease Termterm to a tenancy at will. Rather, Landlord may deliver will have the right to bring eviction proceedings unless and until Landlord elects, by written notice, to convert the term to a tenancy at will. Landlord hereby agrees that the Landlord's Work shall be completed as evidenced by the issuance of a City issued Certificate of Occupancy, and delivery of possession shall be delivered to Tenant no later than October 1, 2016 (the "Outside Delivery and Completion Date"). Landlord hereby acknowledges and understands that (a) the Tenant is a notice party to a certain lease agreement (the "Tenant's Current Lease"), wherein the Tenant is currently operating at another location (the "Tenant's Current Location") and (b) the execution of this Lease (i) has resulted in the form as set forth in Exhibit C, attached hereto, as a confirmation only Tenant's termination of the information set forth therein, which Tenant shall execute Tenant's Current Lease; and return (ii) will result in the Tenant's relocation of all or a portion of its operations from the Tenant's Current Location to Landlord within ten (10) business days the Premises. As a result of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject Landlord acknowledges and understands that it is critical to any delays caused by the Tenant's operations that early access to the Premises is granted to Tenant or any Tenant Parties on August 1, 2016 and events that the Landlord's Work is completed and that delivery of Force Majeurepossession occur no later than the Outside Delivery and Completion Date. Accordingly, if notwithstanding anything to the contrary, (a) in the event that the Landlord fails to tender possession of grant Tenant early access to the Premises to Tenant by August 1, 2016 as contemplated in Section 14.13 below; or (b) in the event that the Landlord's Work has not been completed on or before January 2the Outside Delivery and Completion Date or (c) in the event that delivery of possession has not yet occurred on or before the Outside Delivery and Completion Date, 2015 (and provided that such delay was not caused by the “Base Rent Delivery Date”)Tenant, Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described other rights or remedies which are available to Tenant under this Lease and/or which are otherwise available to Tenant at law or in Section 3.2 belowequity, Landlord shall be obligated to pay to the Tenant an amount which is equal to $2,600.00 per day.
Appears in 1 contract
Sources: Lease (DJO Finance LLC)
Lease Term. The terms and provisions of this A. 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 day of the Summary_ , 20 and shall terminate end on the “Lease Expiration Date,” as that term is set forth in Section 3.3 day of the Summary, 20 , unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges herein provided (“Term.”) In no event shall the Term of this Lease exceed one (1) year.
B. In the event that the Premises are currently occupied by another tenant of the Building. If Landlord Lessor is unable for any reason to deliver possession of the Premises Apartment to Tenant Lessees within seven (7) days of the date specified herein, Lessor shall provide written notice to Lessees designating the date upon which the Apartment will be available for possession. Under such circumstances, Lessees’ only remedies shall be (a) to cancel the Lease, in which case any security deposit, application fee or any other payments paid by or on behalf of Lessees to Lessor for the specific purpose of securing the Apartment will be returned to Lessees; or (b) to accept occupancy at the later date, in which event Lessor shall prorate the rent to that date.
C. If any specific date Lessee vacates the Apartment prior to the end of the Lease term, then Landlord Lessor shall not be obligated to find a replacement Lessee. Unless released from this Lease by Lessor, all undersigned Lessees, including those who have vacated the Apartment during the Term, shall remain subject to any liability for its failure to do so, all terms and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes conditions of this Lease, including all rent or damages owed for the term “Lease Year” shall mean each consecutive twelve (12) month period remainder of the Term.
D. If a Lessee vacates the Apartment during the Lease Term. At any time during the Lease Term, Landlord the remaining Lessees may deliver add a replacement Lessee to Tenant the Lease, provided the proposed replacement Lessee meets the eligibility requirements defined above, has completed an application and has prior written authorization by Lessor. Such replacement Lessee shall be made a party to this Lease through an addendum. The replacement Lessee is required to pay Lessor the portion of the security deposit originally paid by the vacating Lessee (unless notified otherwise in writing by the original Lessees, it will be assumed that each Lessee paid an equal amount of the security deposit). Once the vacating Lessee has vacated the Apartment, remaining Lessees shall allow the Lessor to inspect the Apartment following Lessor’s notice to do so. Vacating Lessee’s portion of the security deposit, minus any charge authorized under this Lease as determined by the inspection discussed in the form as set forth in Exhibit Cprevious sentence, attached hereto, as a confirmation only will be refunded after Lessor has received the replacement Lessee’s portion of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject 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 belowsecurity deposit.
Appears in 1 contract
Sources: Lease Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. 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 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 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 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. 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 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 this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be for a period of five (5) years (“Lease Term”) and shall commence (the “Commencement Date”) on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 Article 1.1(b) of the Summary, Basic Lease Provisions and shall terminate end on the “Lease Expiration Date,” as that term is expiration date set forth in Section 3.3 Article 1.1(c) of the SummaryBasic Lease Provisions. Notwithstanding the foregoing, unless Tenant shall have the right to occupy the Premises for a period of thirty (30) days prior to the Commencement Date (“Early Occupancy Period”) commencing upon the date set forth in Article 1.1 (a) of the Basic Lease Provisions (“Early Occupancy Date”). Tenant’s occupancy of the Premises during the Early Occupancy Period shall be without payment of Basic Rental and Tenant’s Proportionate Share of Direct Costs, but otherwise subject to all of the terms and conditions of this Lease is sooner terminated as hereinafter providedLease. Tenant hereby acknowledges that the Premises are Tenant is currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver in possession and occupancy of the Premises pursuant to that certain Sublease (“Original Sublease”), dated August 30, 1996, entered into by and between Tenant, as subtenant, and NCR International, Inc., as sublandlord, as amended by that certain First Amendment to Sublease (“First Amendment”), dated January 23, 1997, and as further amended by that certain Second Amendment to Sublease (“Second Amendment”), dated May 28, 1997 (the Original Sublease, First Amendment and Second Amendment shall hereinafter collectively be referred to as the “Sublease”). Tenant shall continue in possession and occupancy of the Premises upon termination of the Sublease and hereby acknowledges that the Premises shall be accepted by Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, the Early Occupancy Date in “as-is” condition “with all faults,” and such failure shall not affect the validity of this Lease “without representation or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Yearwarranties.” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, “D” attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. (a) The terms and provisions initial term (“Initial Term”) of this Lease shall be effective as for one (1) year commencing on January 1, 2016 (“Commencement Date”), and ending on December 31, 2016, unless sooner terminated according to this Lease.
(b) Upon expiration of the date Initial Term, unless notice of this Lease. The term termination is given thirty (30) days prior to expiration of the Initial Term, this Lease shall automatically renew for a successive one (1) year term, under the “same terms and conditions with the exception that the rental rate shall increase by three percent (3%) from the initial rental rate. This Lease Term”shall automatically renew each year thereafter, unless notice of termination is given thirty (30) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 days prior to expiration of the Summaryrenewed lease term, under the same terms and shall terminate on conditions with the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges exception that the Premises are currently occupied rental rate shall increase by another tenant of three percent (3%) from the Building. prior years’ rental rate.
(c) If Landlord is unable for any reason fails to deliver possession of the Leased Premises to Tenant on any specific date by the Commencement Date, then Landlord shall not be subject to liable for any liability for its damages resulting from that failure, nor shall that failure to do so, and such failure shall not affect the validity cause a termination of this Lease or Tenant’s obligations under this Lease, except as otherwise permitted under this Section, nor shall that failure extend the obligations of Tenant hereunder. For purposes term of this Lease, . If Landlord has not delivered possession of the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver Leased Premises to Tenant a within sixty days after the Commencement Date, Tenant may, however, cancel this Lease, by written notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days after the end of receipt thereofthe sixty day period; in that case, the parties shall be discharged from all obligations under this Lease, provided, however, Tenant’s failure to execute and return such that if the written notice to of Tenant is not received by Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 ten (the “Base Rent Delivery Date”)10) day period, Tenant shall be entitled have no further right to one terminate this Lease.
(1d) day of per diem Base Rent abatement Either party may terminate this Lease at any time, for each day commencing on any reason, upon thirty (30) days’ written notice in accord with the day after notice provisions herein to the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowother party.
Appears in 1 contract
Sources: Industrial Lease
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” . The Term shall continue for the period designated as that term is set forth the Lease Term in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” Article 1 hereof. Except as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Leaseprovided below, the term “Lease Year,” whenever used herein, shall mean each a period of twelve (12) consecutive full calendar months. The first Lease Year shall commence on the Commencement Date. If the Commencement Date is other than the first day of a calendar month, the first Lease Year shall consist of the remaining part of such month, and the next consecutive twelve (12) month period during the calendar months. Each succeeding Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant Year shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing commence on the day after the Base Rent Delivery Date conclusion of the previous Lease Year. The parties hereto acknowledge that certain obligations under various Articles hereof may commence prior to the Lease Term (i.e. construction, hold harmless, liability insurance, etc.), and ending on the date Landlord so tenders parties agree to be bound by these Articles prior to commencement of the Lease Term. Pursuant to Section 1.06 and as modified by the Addendum signed simultaneously with this agreement Tenant shall have two (2) options to renew for a term of five (5) years each. Tenant shall not have the right to holdover possession of the Premises after the expiration or termination of this Lease without Landlord’s prior written consent, which consent may be withhold in Landlord’s sole and absolute discretion. If Tenant retains possession of any part of the Premises after the expiration or termination of this Lease without Landlord’s prior written consent, Tenant shall become a month-to-month tenant (for the part of the Premises then leased by Tenant) in accordance with all of the terms of this Lease as might be applicable to Tenant. Any such month-to-month tenancy, except that Tenant shall pay Base Rent Abatement at the greater of (a) one hundred twenty-five percent (125%) of the rate in effect for the month immediately prior to such holdover, or (b) fair market rent, as reasonably determined by Landlord. Tenant shall pay its Proportionate Share of Operating Cost Share Rent and Tax Share Rent during any holdover period in accordance with the terms of this Lease, and shall be separate from and in addition responsible for its Proportionate Share of any increases thereto. No acceptance of Rent or other payments by Landlord under these holdover provisions shall operate as a waiver of Landlord’s right to regain possession based on breach of lease or any Rent Abatement described in Section 3.2 belowother Landlord remedy.
Appears in 1 contract