Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 5 contracts
Samples: Office Lease (ViewRay, Inc.), Office Lease (ViewRay, Inc.), Office Lease (ViewRay, Inc.)
Lease Term. The terms and provisions of this Lease Term shall be effective as of mean the date of this Lease. The term of this Lease (the “Lease Term”) shall commence period beginning on the “Lease above referenced Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate ending on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive Termination Date (an approximately twelve (12) month period term). Landlord shall exercise a good faith effort with respect to delivering possession of the Residence to Tenant on the Commencement Date. In the event Landlord does not deliver possession of the Residence to Tenant on the Commencement Date, but Landlord does deliver possession within (45) days after the Commencement Date, then Rent shall be abated on a daily basis during the Lease Termperiod of delay. At Landlord shall not be liable to Tenant for any time during the Lease Term, losses or damages related to such failure to timely deliver possession. If Landlord may cannot deliver to Tenant a the Residence by the first day of the Lease Term because another resident holds over, or for any other reason, Landlord shall not be liable to Tenant or Tenant’s Guarantor for damages, but Tenant will not be required to pay any Rent until the Residence is available. If Landlord is not able to deliver possession to Tenant within forty five (45) calendar days following the Commencement Date, Tenant may, as its sole remedy, cancel the Lease by written notice to Landlord, in which case Tenant’s security deposit will be refunded and Tenant shall have no further liability hereunder. It is expressly understood that this Lease is for the Lease Term regardless of whether Tenant takes occupancy, is transferred, ceases to be enrolled at any school in the form as set forth in Exhibit Carea, attached hereto, as is no longer a confirmation only resident of the information set forth thereinarea or, which Tenant shall execute and return for any other reason, is unable to Landlord within ten (10) business days of receipt thereof; provided, howevercontinue occupying the Residence. Accordingly, Tenant’s failure obligation to execute pay Rent hereunder (and return such notice the Guarantor(s) obligation to ensure payment of the same) shall continue for the entire Lease Term and until all sums due to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfull.
Appears in 4 contracts
Samples: Rental Agreement, Rental Agreement, Rental Agreement
Lease Term. The terms This Lease starts at noon on the Starting Date, and provisions of ends at noon on the Ending Date. You may not occupy your Premises until this Lease and other required documents have been signed by all parties.
a. Once the Tenant executes the Lease Agreement, the Tenant shall be effective as obligated to pay all amounts due under this Agreement for the duration of the date of this Lease. The term of this Agreement. This includes, but is not limited to, the apartment deposit, monthly rent, cleaning fees, late charges, and any charges associated with damages and/or abandoned property, etc. There are only four circumstances that the Tenant may be released from the Lease with appropriate documentation submitted at least 30 days in advance, and are as follows:
i. Graduation from Xxxxxxx College at end of a fall semester;
ii. Part of a Xxxxxxx College-sponsored Study Abroad, National Student Exchange, or other placement exchange program for the spring semester;
iii. Assignment to student teach, or a nursing placement or other academic requirement that requires the student to live more than sixty (60) miles from Helena; or
iv. Official withdrawal from the “College.
b. If the Tenant intends to leave the Premises permanently prior to the Ending Date and the Tenant wants the College to return the remaining Security Deposit amount, the Tenant must provide the College with a completed 30-Day Intent to Vacate notice (provided by Residential Life & Housing) and the Tenant must pay the full amount of Rent through the Ending Date by the time the Tenant moves out. Notification to the College that the Tenant is leaving without submission of an Intent to Vacate form is not sufficient. Even if the Tenant gives proper notice, the Tenant is not released from liability under this Lease Term”) shall commence on and the “Lease Commencement Date,” as that term is set forth College may withhold the Security Deposit and charge additional charges to the Tenant’s apartment account unless all payments through the Ending Date have been made.
c. If the Tenant moves out before the Ending Date for reasons other than those described in Section 3.2 Paragraph 2(a), Rent for the remainder of the SummaryLease Term is still due to be paid by the Tenant. A buy-out clause or cancellation fee is not applicable. Tenants may be able to assign their obligations under this Lease for the same terms and conditions to another person provided Residential Life & Housing gives written consent, but such consent is at the College’s sole discretion. The new applicant must be approved by Residential Life & Housing. The Tenant’s obligations will be terminated under this Lease once the new applicant has been approved, has moved in, and shall terminate on has paid the “Lease Expiration Date,” as that term is set forth in Section 3.3 of first month’s rent. Should a request to assign the Summary, unless tenant’s obligations under this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that be approved, the Tenat must pay a re-leasing charge of $200.00, which serves to partially defray the College’s costs in making the Premises are currently occupied available for re-leasing. This re-leasing charge is not a cancellation fee, buy-out fee or a limitation of damages collectable by another tenant of the Building. College.
d. If Landlord is unable for any reason the Tenant requests to deliver possession of the Premises transfer to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time a different apartment during the Lease Term, Landlord may deliver Tenant must pay a $100.00 transfer fee if the transfer is approved by the College.
e. All Tenants will be required to Tenant a notice provide their Intent to Vacate during the spring semester, approximately one month prior to Housing Selection (late February/early March). The date will be sent out by Residential Life & Housing one month in advance. All Tenants who plan NOT to return for another year must submit the form as set forth Intent To Vacate in Exhibit Cwriting prior to the deadline requested in order for Residential Life & Housing to release the tenant from their obligation to fill their spot. Tenants deciding to vacate after that date are still held to the terms outlined in 2b above.
f. If for any reason, attached hereto, as a confirmation only unrelated to the negligent or bad actions of Tenant(s) or to any Act of God beyond control of the information set forth thereinManager, which Tenant shall execute and return the Unit is not habitable for a period of time prior to Landlord within ten (10) business days the start date of receipt thereof; providedthe Lease, howeveror after the Lease has commenced, the Tenant’s failure obligation to execute and return such notice pay Rent pursuant to Landlord within such time shall be conclusive upon Tenant that this Agreement is not relieved. Residential Life & Housing will provide comparable alternate accommodations until the information set forth in such notice unit is as specified thereinhabitable. In addition to A refund or rebate of Rent or other fees or relief from future Rent payments is at the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession sole discretion of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowCollege.
Appears in 4 contracts
Samples: Lease Agreement, Lease Agreement, Lease Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January July 1, 2016, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each two (2) days that the delivery date is delayed beyond such date, 2015 (2) on or before August 1, 2016, then, as Tenant’s sole remedy for such delay (in addition to the “Base Rent Delivery Date”delay in subpart (1)), the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one additional day for each day that the delivery date is delayed beyond such date, or (3) October 1, 2016, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate extended to the extent of any delays in delivery of possession caused by war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord. Landlord shall allow Tenant access to the Premises prior to the Lease Commencement Date for the purpose of Tenant installing equipment, furniture or fixtures (including Tenant’s data and telephone equipment) in the Premises and any other purpose necessary to ready the Premises for Tenant’s occupancy (but not for conducting business) without payment of Rent. Prior to Tenant’s entry into the Premises, Tenant shall submit a schedule to Landlord for approval, which schedule shall detail the timing and purpose of Tenant’s entry. Tenant shall hold Landlord harmless from and in addition indemnify, protect and defend Landlord against any loss or damage to the Building or Premises and against injury to any Rent Abatement described in persons caused by Tenant’s actions pursuant to this Section 3.2 below2.1.
Appears in 3 contracts
Samples: Lease (Biotech Acquisition Co), Sublease (Twist Bioscience Corp), Sublease (Twist Bioscience Corp)
Lease Term. The terms reins and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “"Lease Term”") shell be as set forth In Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the .the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the “Base Rent Delivery Date”Summary), Landlord shall not be subject to any liability nor shell the validity of this Lease nor the obligations of Tenant shall hereunder be entitled to one (1affected. In the event that the Lease Commencement Date is a date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) day of per diem Base Rent abatement for each day commencing on the day Summary, within a reasonable period of time after the Base Rent Delivery Date and ending on the date Landlord so tenders Tenant takes possession of the Premises Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, seeing forth, among other things, the Lease Commencement Date and the Lease Expiration Date, and Tenant shall execute and return such amendment to Landlord within five (5) days after Tenant's receipt thereof. In the event that Landlord does not deliver such amendment to Tenant. Any such Base Rent Abatement , the Lease Commencement Date shall be separate from and in addition deemed to any Rent Abatement described be the anticipated Lease Commencement Date set forth in Section 3.2 below7.2(ii) of the Summary.
Appears in 3 contracts
Samples: Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January December 1, 2016, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) April 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide of industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that such delay shall not extend any such date by more than ninety (90) days).
Appears in 3 contracts
Samples: Lease Agreement, Lease (Denali Therapeutics Inc.), Lease (Denali Therapeutics Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) Term shall commence on the date (the “Lease Commencement Date,” as that term ”) which is the Anticipated Commencement Date set forth in Section 3.2 of the Summary (or on such earlier date provided for in the Summary), and provided Landlord shall terminate on have Substantially Completed (as such term is defined in the Work Letter attached as Exhibit C (the “Lease Expiration Date,” Work Letter”)) the Tenant Improvements (as that term is set forth defined in Section 3.3 the Work Letter) as of such date, subject to adjustment to the Summary, unless this Lease is sooner terminated Anticipated Commencement Date for any Tenant Delays (as hereinafter provided. Tenant hereby acknowledges that defined in the Premises are currently occupied by another tenant of the BuildingWork Letter). If Landlord is unable has not Substantially Completed the Tenant Improvements on or prior to the Anticipated Commencement Date, for any reason other than Tenant Delays, the Lease Commencement Date shall be the date upon which Substantial Completion of the Tenant Improvements occurs. Notwithstanding anything to the contrary contained herein, Tenant’s sole and exclusive remedy for any failure of Landlord to deliver possession of the Premises to Tenant on any specific or prior to the Anticipated Commencement Date with the Tenant Improvements Substantially Completed shall be as follows: (i) if the Lease Commencement Date has not occurred within forty-five (45) days after the Anticipated Commencement Date (as such date may be extended by Tenant Delays or Force Majeure Delays) (the “Deadline”), then Tenant shall be entitled to one (1) additional day of free Base Rent and Additional Rent for each day after the Deadline until Landlord delivers the Premises to Tenant with the Tenant Improvements Substantially Complete; and (ii) if the Lease Commencement Date has not occurred within ninety (90) days after the Anticipated Commencement Date (as such date may be extended by Tenant Delays or Force Majeure Delays), then Tenant, at its option, may at any time thereafter elect to terminate this Lease without payment or penalty by giving written notice to Landlord of such election (a “Termination Election Notice”), and in such case, this Lease shall terminate and shall be of no further force and effect on the date that is ten (10) days after the date such Termination Election Notice has been given to Landlord, unless prior to the effective date of such termination Landlord delivers the Premises to Tenant with the Tenant Improvement Substantially Completed, in which case this Lease shall not be subject to any liability for its failure to do so, terminate and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Termremain in full force and effect. At any time during following the Lease TermCommencement Date, Landlord may deliver to Tenant a notice Memorandum of Commencement of Lease Term substantially in the form attached hereto as set forth in Exhibit C, attached hereto, B as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten three (103) business days of Business Days after receipt thereof; provided, however, Tenantprovided either party’s failure to execute and return such notice request execution of, or to Landlord within such time execute, the Commencement Date Memorandum shall be conclusive upon Tenant that not in any way modify or extend the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Lease Commencement Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 3 contracts
Samples: Triple Net Lease (GOOD TECHNOLOGY Corp), Triple Net Lease (GOOD TECHNOLOGY Corp), Triple Net Lease (GOOD TECHNOLOGY Corp)
Lease Term. 5.1 The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease for the Premises shall be for a period of one hundred eighty (180) months (said initial term, as extended by any Renewal Term, the "TERM"), commencing on the Commencement Date.
5.2 Provided that if, on or prior to the date upon which the Term is scheduled to expire (the “"EXPIRATION DATE") or any other Renewal Date (as hereinafter defined) this Lease Term”) shall commence not have been terminated pursuant to any provision hereof, then on the “Lease Commencement Date,” as that term is set forth in Section 3.2 Expiration Date and on the fifth (5th) anniversary of the SummaryExpiration Date (the Expiration Date and each such anniversary being referred to herein as a "RENEWAL DATE"), and Tenant shall terminate on have the “right to extend the Term (each such extension, a "RENEWAL TERM") for an additional period of five (5) years with respect to each Renewal Term, notification to Landlord in writing at least twelve (12) months (the "RENEWAL NOTICE DATE") prior to the next Renewal Date that Tenant is extending this Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summarynext Renewal Date (each such notice, unless this Lease is sooner terminated as hereinafter provideda "RENEWAL NOTICE"). If Tenant hereby acknowledges that elects to not send a Renewal Notice to Landlord, Tenant shall have the Premises are currently occupied right to extend the then current Term by another tenant a period of up to six (6) months by giving to Landlord a written notice of such extension at least twelve (12) months prior to the expiration of the Building. If Landlord is unable for any reason to deliver possession then current Term, which notice shall specify the length of such extension of the Premises Term (not to Tenant on any specific date , then Landlord exceed six (6) months). Any extension of the Term shall not be subject to any liability for its failure to do so, and such failure shall not affect all of the validity of this Lease or the obligations of Tenant hereunder. For purposes provisions of this Lease, as the term “Lease Year” shall mean each consecutive twelve same may be amended, supplemented or modified (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which except that Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that not have the information set forth in such notice is as specified therein. In addition to the foregoing, subject right to any delays caused by Tenant or any Tenant Parties and events additional Renewal Terms). An extension of Force Majeure, if Landlord fails this Lease according to tender possession Section 545 German Civil Code due to continued usage of the Premises to by Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)is specifically excluded.
5.3 Except as otherwise expressly provided herein, Tenant shall be entitled have no right and hereby waives all rights which it may have under any Law (i) to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession quit, terminate or surrender this Lease or any of the Premises Premises, save for Tenant's right to Tenant. Any such Base Rent Abatement shall be separate from terminate this Lease for cause ("AUS WICHTIGEM XXXXX") including, but not limited to, Sections 543 and in addition 578 of the German Civil Code, or (ii) to any Rent Abatement described set-off of any Rent, unless such amounts claimed by Tenant are not disputed by Landlord or have been confirmed in Section 3.2 belowa non-appealable judgment.
Appears in 2 contracts
Samples: Lease Agreement (Corporate Property Associates 17 - Global INC), Lease Agreement (Corporate Property Associates 17 - Global INC)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The lease term of this Lease (the “Lease Term”) shall commence on upon the earlier to occur of either (a) the satisfaction of the following listed conditions: (i) the completion of Landlord’s Work (as hereinafter defined), (ii) the completion of Tenant’s Work (as hereinafter defined), and (iii) the issuance of a Certificate of Occupancy by the City of Waltham; or (b) the Rent Commencement Date (as defined in Section 3.1 below) (the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ”) and shall terminate on continue for a period of ten (10) years and nine (9) months after the Rent Commencement Date unless extended or terminated as provided in this Lease (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided”). Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date shall, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days Business Days of receipt thereof; provided, howeverexecute a Commencement Date Certificate substantially similar to the form attached hereto as Exhibit “E” confirming the Lease Commencement Date, Tenant’s failure to execute the Rent Commencement Date and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinExpiration Date. In addition to Notwithstanding the foregoing, subject if and to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession the extent the occurrence of the Premises Lease Commencement Date is delayed beyond December 31, 2006 due to Tenant on or before January 2, 2015 a Landlord Delay (the “Base Rent Delivery Date”as defined in Section 10.1 (d)) of which Landlord has received Landlord Delay Notice (as defined in Section 10.1 (d)), Tenant then the Rent Commencement Date shall be entitled to extended two (2) days for every one (1) day due to such Landlord Delay; and all other dates and time periods for increases in rental rates through the Lease Term, as set forth on Exhibit “C” attached hereto and made a part hereof, shall be extended for an equal number of per diem Base Rent abatement for each day commencing on days. In addition, if and to the day after extent the Base Rent Delivery Date and ending on the date Landlord so tenders possession occurrence of the Premises Lease Commencement Date is delayed beyond February 28, 2007 due substantially and primarily to Tenanta Landlord Delay of which Landlord has received Landlord Delay Notice, Tenant shall have the option to terminate this Lease effective immediately upon written notice to Landlord. Any such Base Rent Abatement If Tenant elects to terminate this Lease, then this Lease shall be separate from null and in addition void and of no further force or effect, except Landlord agrees to immediately return to Tenant any Rent Abatement described in Section 3.2 belowpre-paid rent and/or Security Deposit.
Appears in 2 contracts
Samples: Lease Agreement (Histogenics Corp), Lease Agreement (Histogenics Corp)
Lease Term. The terms and provisions of this Lease shall be effective Subject to any Tenant Delay (as of defined on Exhibit “F”) the date of this Lease. The term of this Lease lease (the “Lease Term”) shall commence on the date of Substantial Completion of Landlord’s Work (as defined on Exhibit “Lease Commencement Date,” as that term is set forth in Section 3.2 F”) and Landlord’s delivery of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant in “broom clean” condition, free of all occupants (the “Lease Commencement Date”) and expire on any specific date the last day of the full sixtieth (60th) month thereafter (the “Expiration Date”). If the Lease Term commences on a day other than the first day of a month, then Landlord the first year of the Lease Term shall not be expire on the last day of the full twelve (12th) calendar month following the Lease Commencement Date. Notwithstanding the foregoing, and subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes execution of this Lease, Tenant shall have access to the term “Lease Year” shall mean each consecutive twelve Premises for thirty (1230) month period during days prior to the date on which the Lease Term. At any time during Commencement Date is expected to occur solely for the purposes of installing its telecommunications equipment and wiring, furniture and fixtures (the “Tenant’s Early Access Work”) and provided that Tenant complies with all terms and conditions of the Lease, including but not limited to its insurance and indemnification obligations set forth in the Lease Termbut Tenant shall have no obligation to pay Rent during such period of access. Notwithstanding the foregoing, in the event of any conflict between the performance of Landlord’s Work and Tenant’s Early Access Work, Landlord’s Work shall have priority. Upon the Lease Commencement Date, Landlord may deliver to and Tenant shall execute a notice Lease Commencement Date Certificate in the form attached hereto as set forth in Exhibit “C”. If Tenant fails to object to, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall or execute and return to Landlord return, the Lease Commencement Date Certificate within ten (10) business days Business Days of receipt thereof; provideddelivery from Landlord, however, Tenant’s failure to execute and return the terms set forth on such notice to Landlord within such time Commencement Date Certificate shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition deemed to the foregoing, subject be agreed to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Samples: Lease Agreement (Spero Therapeutics, Inc.), Lease Agreement (Spero Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease Sublease (the “Lease Term”) shall commence on sixty (60) days following Sublandlord’s delivery of the Sublease Premises to Subtenant in the required condition and receipt of Master Landlord’s written consent to this Sublease (the “Lease Sublease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ”) and shall terminate expire on July 31, 2025 (the “Lease Sublease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is sooner terminated as hereinafter providedprovided herein. Tenant hereby acknowledges Subtenant expressly agrees that it shall have no right to extend the Term of this Sublease or to require that Sublandlord exercise its option rights under Section 2.2 “Option Term” of the Master Lease, and Sublandlord agrees that it will not exercise its option rights under Section 2.2 “Option Term” of the Master Lease or otherwise extend the term of the Master Lease. Sublandlord and Subtenant each further understand, acknowledge and agree that the Premises are currently occupied by another tenant Sublease Expiration Date occurs at the end of the Building. If Landlord is unable Lease Term under the Master Lease, and that both parties intend for any reason this Sublease to deliver possession be characterized as a sublease of the Sublease Premises, and not as an assignment of Sublandlord’s rights under the Master Lease. On the last day of the Term, or on the sooner termination of this Sublease, Subtenant shall surrender the Sublease Premises to Tenant Sublandlord in as good condition and repair as received, normal wear and tear excepted, with all alterations or improvements made by Subtenant removed, to the extent properly required by Master Landlord, without damage to the Sublease Premises or the Building, and otherwise in the manner required by the Master Lease, as incorporated herein, including, without limitation, the provisions of Section 15 “Surrender Of Premises; Ownership And Removal Of Trade Fixtures” of the Master Lease. Subtenant shall have the right to enter the Sublease Premises during the sixty (60) day period following Sublandlord’s delivery of the Sublease Premises to Subtenant in the required condition and receipt of Master Landlord’s written consent (the “Early Access Period”), for the limited purposes of preparing the Sublease Premises for occupancy and occupancy of completed areas. Such entry and occupancy shall be on any specific date all of the terms of this Sublease, then Landlord except that Subtenant shall not be subject required to pay any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period rent during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofEarly Access Period; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time that Subtenant shall be conclusive upon Tenant that responsible for the information set forth payment of all utilities and other services which Subtenant uses in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of Sublease Premises during the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowEarly Access Period.
Appears in 2 contracts
Samples: Sublease Agreement (Bolt Biotherapeutics, Inc.), Consent to Sublease Agreement (Bolt Biotherapeutics, Inc.)
Lease Term. The terms and provisions of this (a) This Lease shall be effective as continue in force during a period beginning on Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated or extended to a later date under any other term or provision hereof.
(b) If by the date specified as hereinafter provided. the Commencement Date in Paragraph 1(d), the Premises have not been substantially completed pursuant to the Work Letter due to omission, delay or default by Tenant hereby acknowledges that or anyone acting under or for Tenant or due to any cause other than Landlord's default, Landlord shall have no liability for such failure to complete, and the obligations of this Lease (including without limitation the obligation to pay rent) shall nonetheless commence as of said Commencement Date.
(c) If however the Premises are currently occupied not substantially completed by another tenant the date specified as the Commencement Date in Paragraph l(d) and such failure to complete is due to default on the part of Landlord, then, as Tenant's sole remedy for the delay in Tenant's occupancy of the Building. If Premises, the Commencement Date shall be delayed (and the rent herein provided shall not commence) until the earlier of either (i) the date of actual occupancy by Tenant or (ii) the date of substantial completion of the work which Landlord is unable for any reason has agreed to deliver perform.
(d) Tenant agrees to accept possession of the Premises when the Building Standard Improvements to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice Premises as provided in the form as set forth in Exhibit CWork Letter have been substantially completed. If there are any finishing touches remaining to be done which will not materially interfere with the conduct of Tenant's business on the Premises, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession will nevertheless accept delivery of the Premises and allow Landlord to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any complete such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfinishing touches.
Appears in 2 contracts
Samples: Office Lease Agreement, Office Lease Agreement (Zix Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the SummarySummary (as may be extended pursuant to Section 2.2 below, the “Lease Expiration Date”) unless this Lease is sooner terminated or extended as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date (or, if applicable, the last day of the Option Term). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall either execute and return return, or provide corrections to any factual errors therein, to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s that the failure of the parties to execute and return such notice to Landlord within such time letter shall be conclusive upon Tenant that not defer the information set forth in such notice is as specified thereinLease Commencement Date or otherwise invalidate this Lease. In addition Notwithstanding anything to the foregoingcontrary in this Lease, subject it is a condition precedent to any delays caused by the effectiveness of this Lease that Landlord and Tenant or any Tenant Parties and events of Force Majeureenter into a commercially reasonable termination agreement terminating, if Landlord fails to tender possession as of the Premises to Lease Commencement Date hereof, that certain existing lease between Landlord and Tenant on or before January 2for the premises located at 00000 Xxxxxxx Xxxxxx Xxxxx, 2015 (the “Base Rent Delivery Date”)Xxx Xxxxx, Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowXxxxxxxxxx.
Appears in 2 contracts
Samples: Lease (Decipher Biosciences, Inc.), Lease (Decipher Biosciences, Inc.)
Lease Term. The terms 3.1 Both Parties hereby acknowledge and provisions agree to terminate the warehouse lease under the Initial Chemical Warehouse Lease Agreement without any limitation or reservation.
3.2 For the Leased Area, the Parties agree that the Lease Term shall begin on November 1, 2014 until the date that SKE decides to terminate the Warehouse Building lease.
3.3 After the Warehouse Building lease commences, SKE shall give notification in writing not less than thirty (30) days before the expiration of the Lease Term to terminate the Warehouse Building lease.
3.4 Ding Hong shall not terminate this Lease Agreement without SKE's written approval. During the Lease Term, the items relating to the Rental set forth in Article 5 of this Lease Agreement shall be effective as adjusted biannually on the basis of the date of this Lease. The term of this Lease (market prices after consultation and agreement between the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. Parties.
3.5 If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver Ding Hong receives from a third party a bona fide, legally binding offer to Tenant a lease the portion of the Warehouse Building not already leased by SKE, Ding Hong shall notify SKE of this fact. The notice shall specify all the terms of the bona fide third party offer. SKE shall then have thirty (30) days to lease that portion of the Warehouse Building specified in the form as third party’s bona fide offer for the rent and related details set forth in Exhibit C, attached hereto, as a confirmation only Articles 4 and 5. Ding Hong shall not lease any portion of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject Leased Area to any delays caused by Tenant or any Tenant third party until the thirty (30) days has expired without SKE exercising its right of first refusal. Any other terms not specified in this Lease Agreement regarding the Leased Area, both Parties shall negotiate and events of Force Majeure, if Landlord fails to tender possession sign a supplemental agreement for these unspecified terms. Such signed supplemental agreement shall constitute a part of the Premises to Tenant on or before January 2, 2015 (entire Lease Agreement and shall have the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on same effectiveness as the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowentire Lease Agreement.
Appears in 2 contracts
Samples: Chemical Warehouse Lease Agreement, Chemical Warehouse Lease Agreement (Diodes Inc /Del/)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be for six (6) years, and shall, subject to Section 1(e) below, commence on the later of (i) the date of Substantial Completion (as defined in the Tenant Work Letter attached as Exhibit G) by Landlord of the Tenant Improvements (as defined in the Tenant Work Letter attached as Exhibit G), subject to Punch List Work (as defined in the Tenant Work Letter attached as Exhibit G), and (ii) June 1, 2009 (the “Lease Scheduled Commencement Date,” ”) (the actual date that the Lease Term commences in accordance with this Section 1(c) being referred to herein as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Commencement Date”), and, subject to any extension as in this Section 1(c), shall end on May 31, 2015 (the “Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building”). If Landlord is unable fails to deliver possession of Premises to Tenant in the condition required by this Lease on the Scheduled Commencement Date, Landlord shall not be liable for any reason damage caused thereby, nor shall this Lease become void or voidable, but in such event, no Monthly Base Rent (as defined in Section 1(h) below) or Additional Rent shall be payable by Tenant to deliver Landlord until Landlord delivers possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect in the validity of this Lease or the obligations of Tenant hereunder. For purposes of condition required by this Lease, and the term Expiration Date shall be extended by the same number of days as the delay in delivery of possession of the Premises. Notwithstanding the foregoing, if the Commencement Date has not occurred within ninety (90) days of the Scheduled Commencement Date (subject to events of force majeure), Tenant shall have the right to terminate this Lease, without penalty, by delivering written notice thereof to Landlord (the “Termination Notice”), which termination shall be effective ten (10) days from receipt by Landlord of the Termination Notice (the “Termination Effective Date”). This Lease Year” shall mean each consecutive twelve (12) month period during terminate upon the Lease Term. At Termination Effective Date and neither party shall thereafter have any time during the Lease Termfurther rights or obligations hereunder except as expressly provided herein, and Landlord may deliver shall return to Tenant a notice the Security Deposit (as defined in the form as set forth Section 1(i) below) and any prepaid Monthly Base Rent (defined in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord Section 1(h) below) within ten (10) business days of receipt thereof; providedafter the Termination Effective Date, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition unless prior to the foregoingTermination Effective Date, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of delivers the Premises to Tenant on or before January 2, 2015 (in the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowcondition required by this Lease.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Tableau Software Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first (1st) Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first (1st) day of a calendar month, then the first (1st) Lease Year shall end on the day preceding the first (1st) anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month; provided further that the last Lease Year shall end on the Lease Expiration Date (or, if applicable, the last day of the Option Term). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, that if such notice is not factually correct, then Tenant shall make such changes as are necessary to make such notice factually correct and shall thereafter return such notice to Landlord within said ten (10) business day period. Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Samples: Lease (Synthorx, Inc.), Lease (Synthorx, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before October 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2018, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Samples: Lease (Annexon, Inc.), Lease (Annexon, Inc.)
Lease Term. The terms and provisions Subject to the conditions to the effectiveness of this Lease set forth in paragraph 37, the construction term (the "Construction Term") of this Lease shall be effective as of commence on the date of this LeaseLandlord's delivery of the Land to Tenant in accordance with, and in the condition specified in, the Construction Provisions, and shall end on the "Commencement Date" (as defined below). The main term of this Lease (the “"Main Term") of the Lease Term”) shall commence on the “Lease earlier of (i) 210 days following "delivery of the Land," which shall occur no earlier than March 1, 1994 and, subject to force majeure, no later than June 15, 1994, provided Tenant has obtained the approval of the Architectural Review Board of the City of Chico as well as Landlord's approval of Tenant's Plans and Specifications necessary for the construction of the Improvements or (ii) Tenant's opening for business (the "Commencement Date,” as that term is set forth in Section 3.2 ") and shall end on the last day of January following the twentieth (20th) anniversary of the SummaryCommencement Date; provided, and shall terminate on however, the “Lease Expiration Date,” Commencement Date is subject to adjustment as that term described in EXHIBIT "C". If Tenant, after exercising its best efforts, without economic concern, is set forth in Section 3.3 unable to obtain the necessary permits for the construction of the SummaryImprovements and/or Tenant's occupancy therein, unless this Lease is sooner terminated Landlord shall, at Tenant's election, join Tenant, both financially and in name, in pursuing a claim against the City of Chico and/or subdivision thereof, as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date case may be, then Landlord shall not be subject to any liability for its failure to do soprovide Tenant the necessary permit(s). In all events, if Tenant is unable to obtain the requisite authorization within one (1) year following its submittal of the approved Plans and Specifications, Tenant shall have the right to terminate this Lease within sixty (60) days following the expiration of said one (1) year period. In the event Tenant terminates the Lease, Tenant shall reimburse Landlord for all out-of-pocket costs incurred by Landlord in the "delivery of the Land," supported by adequate back-up documentation, including, but not limited to, the relocation and buy-out costs of tenants necessary to facilitate the "delivery of the Land" to Tenant, as well as lost rents from such failure tenants which were bought out, which costs shall in no event exceed Four Hundred Twenty-Five Thousand and NO/100 Dollars ($425,000.00). In addition to the Main Term, Tenant shall have the option (a "Renewal Option") to renew and extend the Lease for five (5) consecutive five (5) year periods (the "Option Periods") immediately following the Main Term, at the rent specified below. Tenant shall give Landlord written notice of its election to exercise any Renewal Option at least one hundred eighty (180) days prior to the expiration of the Main Term or any then-current Option Period, as applicable; provided, however, that in order to avoid any forfeiture or inadvertent lapse of such Renewal Option, if Tenant shall fail to give any such notice within the one hundred eighty (180) day time limit and shall not affect have given Landlord prior written notice of its intent not to exercise its Renewal Option, then and as often as the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Leasesame shall occur, the term “Lease Year” Tenant's right to exercise such Renewal Option shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretonevertheless continue, as a confirmation only of shall its tenancy hereunder (under the information set forth thereinsame terms and conditions as theretofore in effect and notwithstanding that the Main Term or then-current Option Period shall have expired), which Tenant shall execute and return to Landlord within until ten (10) business days after Landlord shall have given Tenant a written notice of receipt thereofLandlord's election to terminate the Renewal Option, during which period Tenant may exercise its Renewal Option at any time prior to the expiration of such ten (10) business day period. Upon the giving of notice of renewal and extension in accordance with the foregoing provisions, the Term (defined below) of this Lease shall thereupon be renewed and extended in accordance with such notice without further act by Landlord or Tenant, the same as if such notice had been timely given hereunder. Notwithstanding the foregoing, it shall be a condition precedent to Tenant's right to exercise a renewal option that no "Event of Default" occurring prior to such exercise remains uncured; provided, however, if the "Event of Default" is of a non-monetary nature, Tenant may exercise the Renewal Option if litigation has commenced regarding said defaults. In the event the above-referenced litigation results in a decision adverse to Tenant’s failure , Tenant's exercise of the Renewal Option shall be deemed void unless Tenant has promptly commenced to execute cure such default following the decision and return such notice pays to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition amount of award, if any, plus attorney's fees and costs to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowextent required hereunder.
Appears in 2 contracts
Samples: Lease (Basic Us Reit Inc), Lease (Basic Us Reit Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease except for the provisions of this Lease relating to the payment of Rent. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is ") set forth in Section 3.2 7.2 of the SummarySummary (subject, however, to the terms of the Tenant Work Letter), and shall terminate on the “date (the "Lease Expiration Date,” as that term is ") set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during , provided that the last Lease Year shall end on the Lease Term, Expiration Date. If Landlord may does not deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 the anticipated Lease Commencement Date (as set forth in Section 7.2(ii) of the “Base Rent Delivery Date”Summary), Landlord shall not be subject to any liability nor, except as otherwise provided below, shall the validity of this Lease nor the obligations of Tenant shall hereunder be entitled to one (1affected. In the event that the Lease Commencement Date is date which is other than the anticipated Lease Commencement Date set forth in Section 7.2(ii) day of per diem Base Rent abatement for each day commencing on the day Summary, within reasonable period of time after the Base Rent Delivery Date and ending on the date Landlord so tenders Tenant takes possession of the Premises Landlord shall deliver to Tenant an amendment to lease in the form attached hereto as Exhibit C, attached hereto, setting forth, among other things, the Lease Commencement Date and the Lease Expiration Date, and Tenant shall execute and return such amendment to Landlord within five (5) days after Tenant's receipt thereof provided Tenant approves the contents thereof (which approval shall not be unreasonably withheld). Any such Base Rent Abatement shall be separate from [***] Confidential portions of this document have been redacted and in addition to any Rent Abatement described in Section 3.2 belowfiled separately with the Commission.
Appears in 2 contracts
Samples: Lease Agreement (Bridgepoint Education Inc), Lease Agreement (Bridgepoint Education Inc)
Lease Term. The terms (a) This Lease shall become effective upon its delivery, and subject to earlier termination pursuant to the provisions of this Lease, shall have an Initial Term terminating on the last day of the Lessee’s current Fiscal Year.
(b) The Lease Term may be extended, solely at the option of the Lessee, at the end of the Initial Term or any Renewal Term for an additional Renewal Term up to the Maximum Lease Term.
(c) At the end of the Initial Term and at the end of each Renewal Term, the Lessee shall be deemed to have exercised its option to continue this Lease for the next Renewal Term, unless the Lessee delivers written notice to the Lessor no later than March 31 of each year stating the Lessee’s intention to not extend the Lease Term. The Lessee’s option to renew or not to renew this Lease shall be effective as conclusively determined by whether or not the City Council of the date Lessee has, on or before the March 31 immediately preceding the end of the Initial Term or any Renewal Term then in effect, budgeted and appropriated, specifically with respect to this Lease, moneys sufficient to pay all the Rental Payments and reasonably estimated Additional Payments for the ensuing Renewal Term. The City Administrator of the Lessee (or any other officer at any time charged with the responsibility of preparing budget proposals) is hereby directed to include in the budget proposal submitted to the City Council, in any year in which this Lease shall be in effect, items for all payments required for the next ensuing Renewal Term under this Lease; it being the intention of the City Council that the decision to renew or not to renew this Lease shall be made solely by the City Council and not by any other official of the Lessee. The Lessee shall in any event, whether or not this Lease is to be renewed, furnish to the Lessor and the Purchaser copies of its annual budget promptly after the budget is adopted, but in any case no later than 30 days later than the end of each Fiscal Year.
(d) The Lessee’s option to renew or not to renew this Lease may not be exercised at any time during which an Event of Default has occurred and is then continuing under any of the terms of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure that if such Event of Default (money payments excepted) is of such nature that the same is curable but not within the period allowed for curing such Event of Default, then the right of the Lessee to execute and return such notice to Landlord exercise the option hereby granted shall not be suspended if the Lessee shall have promptly commenced within such time period to comply with the provisions of this Lease which shall have been breached by it and if so long as the Lessee shall, with diligence and continuity, proceed to cure such Event of Default.
(e) The Lessee intends, subject to the provisions above respecting the failure of the Lessee to budget or appropriate funds to make Rental Payments and Additional Payments, to continue this Lease Term and to pay the Rental Payments and Additional Payments under this Lease. The Lessee reasonably believes that legally available funds in an amount sufficient to make all Rental Payments and Additional Payments during the Initial Term and each Renewal Term can be obtained. The Lessee further intends to do all things lawfully within its power to obtain and maintain funds from which the Rental Payments and Additional Payments may be made, including making provision for such Rental Payments and Additional Payments to the extent necessary in each proposed annual budget submitted for approval in accordance with applicable procedures of the Lessee and to exhaust all available reviews and appeals in the event such portion of the budget is not approved. Notwithstanding the foregoing, the decision to budget and appropriate funds or to continue the Lease Term is to be made in accordance with the Lessee’s normal procedures for such decisions.
(f) The terms and conditions during any Renewal Term shall be conclusive upon Tenant the same as the terms and conditions during the Initial Term, except that the information Rental Payments and the Option Purchase Price shall be as provided in the schedules set forth in Schedule 4 to this Lease, as such notice is schedules may be revised as specified therein. In addition to provided in the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowIndenture.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date Effective Date except for the provisions of this LeaseLease relating to the payment of Rent (as defined in Section 3.1 below). The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary (subject, however, to the terms of the Tenant Work Letter) and shall commence on the applicable Lease Commencement date set forth in Section 7 of the Summary with respect to the applicable portion of the Premises. For purposes of this Lease, the term “Lease Commencement Date,” shall have the same meaning as that the term is set forth in Section 3.2 of the Summary, and “Phase One Premises Lease Commencement Date”. The Lease Term shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and the last Lease Year shall end on the Lease Expiration Date. If Landlord does not deliver possession of the applicable portion of the Premises to Tenant on or before the applicable anticipated Phase One Premises Lease Commencement Date and/or Phase Two Premises Lease Commencement Date (as set forth in Section 7.3 of the Summary), then Tenant shall be entitled to receive an abatement of Base Rent, and Tenant’s Share of Direct Expenses equal to one (1) day for every one (1) day of delay beyond the Phase One Premises Lease Commencement Date or Phase Two Premises Lease Commencement Date, as applicable, provided that the delay is not caused by Force Majeure events or any delays caused by Tenant. In the event Landlord does not deliver possession of the applicable portion of the Premises to Tenant on or before that date which is sixty (60) days after the anticipated Phase One Premises Lease Commencement Date and/or the applicable anticipated Phase Two Premises Lease Commencement Date, then Tenant (in lieu of the day for day abatement provided above), shall be entitled to receive an abatement of Base Rent and Tenant’s Share of Direct Expenses equal to two (2) days for every one (1) day beyond such sixty (60) day period in Landlord’s delivery of the applicable portion of the Premises to Tenant (subject to extension due to Tenant Delays and Force Majeure delays). At any time during the Lease Term, Landlord may deliver to Tenant a notice an amendment to this Lease confirming the applicable Lease Commencement Date and Lease Expiration Date, in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided. In the event that Landlord does not deliver such amendment to Tenant, however, Tenant’s failure the Phase One Premises Lease Commencement Date and the Phase Two Premises Lease Commencement Date shall be deemed to be the anticipated Phase One Premises Lease Commencement Date and the Phase Two Premises Lease Commencement Date set forth in Section 7.3 of the Summary. Failure of Tenant to execute and return deliver such notice to Landlord within such time amendment shall be conclusive upon constitute an acceptance of the Premises by Tenant that as of the information date set forth in the amendment signed by Landlord and such notice is as specified therein. In addition to date shall, for all purposes of this Lease, be the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Phase One Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Lease Commencement Date and ending on the date Landlord so tenders possession of the Phase Two Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLease Commencement Date (as applicable).
Appears in 2 contracts
Samples: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated 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, as the same may be extended in accordance with the Extension Option Rider attached hereto as Exhibit G and shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Commencement Date and end on the last day of the eleventh full calendar month thereafter and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Expiration Date. At any reasonable time during after the Lease TermCommencement Date (but in any event not to exceed ninety (90) days after the Commencement Date), Landlord may shall deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretohereto (the “Notice of Lease Term Dates”), as a confirmation only of the information set forth therein, which Tenant shall either respond to or execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return in the event Tenant executes and returns such notice to Landlord within such time Notice of Lease Dates the dates set forth therein shall be conclusive and binding upon Tenant. Failure of Tenant to timely respond to or execute and deliver the Notice of Lease Term Dates shall constitute an acknowledgment by Tenant that the information set forth statements included in such notice is as specified therein. In addition to the foregoingare true and correct, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowwithout exception.
Appears in 2 contracts
Samples: Consent to Sublease (Arlo Technologies, Inc.), Office Lease (Arlo Technologies, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before September 1, 2018, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2019, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 2 contracts
Samples: Lease (Pliant Therapeutics, Inc.), Lease (Pliant Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseLease is fully executed. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean the consecutive twelve (12) month period following and including the Rent Commencement Date and each consecutive subsequent twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C2.1, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, but execution of such instrument shall not be a condition to Lease commencement or Tenant’s failure obligations hereunder. Landlord shall endeavor to execute and return such notice provide to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition Tenant, without any obligation to pay Rent, early access to the foregoing, subject Premises approximately ten (10) days before the Rent Commencement Date in order to any delays caused allow Tenant to prepare the Premises for the conduct of its business (by Tenant or any Tenant Parties installing equipment and events of Force Majeure, if trade fixtures). If Landlord fails is unable to tender possession of deliver the Premises to Tenant on or before January 2the Estimated Lease Commencement Date, 2015 (Landlord shall use commercially reasonable efforts to deliver the “Base Rent Delivery Date”)Premises to Tenant as soon as is reasonably practicable thereafter, and in such an event, this Lease shall remain in full force and effect, but Tenant shall have no obligation to commence paying Rent and the Rent Commencement Date and Lease Expiration Date shall be entitled to one (1) day of per diem Base Rent abatement commensurately deferred for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of delay in Landlord’s delivery to Tenant of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowPremises.
Appears in 2 contracts
Samples: Lease Agreement (Organovo Holdings, Inc.), Lease (Organovo Holdings, Inc.)
Lease Term. The terms and provisions basic term of this Lease with respect to each Property (the “Basic Term”) shall be effective as begin upon the Property Closing Date for such Property (in each case the “Basic Term Commencement Date”) and shall end on the fifth annual anniversary of the date Initial Closing Date (the “Basic Term Expiration Date”), unless the Basic Term is earlier terminated or the term of this Lease is renewed (as described below) in accordance with the provisions of this Lease. The Notwithstanding the foregoing, Lessee shall not be obligated to pay Basic Rent until the Rent Commencement Date with respect to such Property. To the extent no Default or Event of Default has occurred and is continuing, Lessee may request (by written notice to the Agent, who shall give notice to each Financing Party delivered in each case at least one hundred twenty (120) days prior to the end of the then current term) the extension of the term of this Lease (for all, but not less than all, the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises Properties which are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability the Operative Agreements for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day or two (2) additional terms each of per diem Base Rent abatement one (1) year’s duration from the Basic Term Expiration Date (each, a “Renewal Term”); provided, no such Renewal Term shall be permitted unless expressly agreed to, at the written request of Lessee, in writing by each Lender and each Holder in each such entity’s sole discretion; provided, further, that the expiration date for the final Renewal Term for each day commencing on Property shall not be later than the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession seventh anniversary of the Premises Initial Closing Date, unless such later expiration date has been expressly agreed to, at the written request of Lessee, in writing by each Lender and each Holder in each such entity’s sole discretion. The failure by any Lender or Holder to Tenant. Any respond to any request from Lessee for any Renewal Term within thirty (30) days after receipt of such Base Rent Abatement requests shall be separate deemed a negative response to such request. Pursuant to Section 10.3 of the Participation Agreement, Lessee shall have the option to replace any Lender or any Holder that does not expressly consent within thirty (30) days of a receipt of a request from and Lessee for any Renewal Term in addition to any Rent Abatement described in accordance with the provisions of this Section 3.2 below2.2.
Appears in 2 contracts
Samples: Lease Agreement (Sabre Holdings Corp), Lease Agreement (Sabre Holdings Corp)
Lease Term. The Subject to the terms and provisions of this Lease shall be effective as of the date of conditions set forth in this Lease, Landlord agrees to lease to Tenant and Tenant agrees to hire from Landlord, the Demised Premises. The term of this Lease (the “Lease Term”) shall commence on the date hereof (the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary”) and, and shall terminate on the date that is three (3) weeks after the Closing Date (as defined in Order Pursuant to 11 U.S.C. §§ 105(a) and 365 and Fed. R. Bankrp. P. 9019, The Plan and Confirmation Order (I) Approving Settlement, (II) Authorizing Assumption and Assignment of Unexpired Lease of Non-Residential Real Property Located at One Syms Way, Secaucus, New Jersey and (III) Granting Related Relief) (the “Fixed Termination Date”), or upon such earlier date upon which the Term of this Lease Expiration Date,” as that term is set forth in Section 3.3 shall expire, be canceled or be terminated pursuant to any of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity conditions or covenants of this Lease or pursuant to law (the date upon which this Lease actually terminates pursuant to the terms hereof, being hereinafter referred to as the “Termination Date”). Subject to the terms and conditions set forth herein, Tenant shall have the right to surrender the Demised Premises to Landlord prior to the Fixed Termination Date by providing Landlord with notice (“Termination Notice”) thereof not less than five (5) Business Days (as hereinafter defined) prior to the date that Tenant actually surrenders the Demised Premises to Landlord. The Termination Notice shall designate the Termination Date, which date shall in no event be later than the Fixed Termination Date, and upon such designated Termination Date, Tenant shall vacate and surrender the Demised Premises in accordance with the terms hereof and all of the parties rights and obligations of Tenant hereunderhereunder shall terminate, except for those rights and obligations which expressly survive termination hereof. For purposes of As used in this Lease, Lease the term “Lease YearBusiness Day” shall mean each consecutive twelve (12) month period during all days except Saturdays, Sundays and days observed by the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form federal or New Jersey state government as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowlegal holidays when government offices are closed.
Appears in 2 contracts
Samples: Assignment of Ground Lease, General Assignment and Bill of Sale, Assignment of Ground Lease, General Assignment and Bill of Sale (Trinity Place Holdings Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease YearMonth” shall mean each consecutive twelve (12) month monthly period during the Lease Term; provided that the first (1st) Lease Month of the Lease Term shall commence on the Lease Commencement Date and end on the last day of the first (1st) full calendar month of the Lease Term, and the last Lease Month shall end on the Lease Expiration Date; and provided further that, if applicable, the first (1st) Lease Month of the Option Term shall commence on the first (1st) day of the Option Term and end on the last day of the first (1st) full calendar month of the Option Term, and the last Lease Month of the Option Term shall end on the last day of the Option Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Samples: Lease (Sorrento Therapeutics, Inc.), Lease Agreement (Sorrento Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease Term shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth described in Section 3.2 of the Summary, and 1. Resident shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that not enter the Premises are currently occupied by another tenant of until the BuildingLease Term begins. If Landlord is unable for Resident shall not place any reason to deliver possession of property in the Premises prior to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity beginning of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At If Resident places any time during property in the Premises prior to the beginning of the Lease Term, Resident shall immediately remove such property upon notice from Landlord may deliver and shall additionally be charged a fine of a minimum of Fifty Dollars ($50) payable to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only Landlord.
A. No Automatic Renewal - Upon expiration of the information set forth thereinLease Term, which Tenant this Lease Agreement shall execute and return not automatically renew, nor shall it convert to a month-to-month basis, or any other extended form of this Lease Agreement, except as provided herein. If Resident wishes to continue to occupy the Premises after the expiration of the Lease Term, Resident must enter into a separate Lease Agreement with Landlord within ten (10) business days for a succeeding period. This Lease Agreement shall not guaranty Resident the right to lease the Premises for any period succeeding the Lease Term, therefore Resident is encouraged to notify Landlord as soon as possible of receipt thereof; provided, however, Tenant’s failure any desire to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that enter into a Lease Agreement for the information set forth in such notice is as specified therein. In addition Premises for any period subsequent to the foregoing, subject Lease Term. Landlord reserves the right to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of lease the Premises to Tenant on or before January 2another party for a period succeeding the Lease Term, 2015 without notice to Resident, any time prior to receipt of notice of any such desire and execution of a Lease Agreement for any succeeding term.
B. VOLUNTARY SURRENDER OF POSSESSION OF PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM SHALL NOT AUTOMATICALLY TERMINATE LEASE AGREEMENT – THE VOLUNTARY SURRENDER OF POSSESSION OF THE PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM SHALL NOT AUTOMATICALLY TERMINATE THIS LEASE AGREEMENT. LANDLORD MAY, AT ITS SOLE DISCRETION, DEEM THE VOLUNTARY SURRENDER OF POSSESSION OF THE PREMISES BY RESIDENT PRIOR TO THE END OF THE LEASE TERM A TERMINATION OF THIS LEASE AGREEMENT UPON WRITTEN NOTICE OF SUCH BY LANDLORD TO RESIDENT.
C. Extension of Lease Term - If Resident enters into a Lease Agreement with Landlord for the Premises, the term of which begins no more than thirty (the “Base Rent Delivery Date”), Tenant shall be entitled to one (130) day of per diem Base Rent abatement for each day commencing on the day days after the Base Rent Delivery Date and ending on the date Landlord so tenders possession end of the Premises to Tenant. Any such Base Rent Abatement Lease Term of this Lease Agreement, then the Lease Term of this Lease Agreement shall be separate from extend until the beginning of the Lease Term of the subsequent Lease Agreement and in addition to any Rent Abatement described in Section 3.2 belowall terms and conditions of this Lease Agreement shall extend accordingly.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement
Lease Term. (a) The terms and provisions initial term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (the “Lease 10) years ("Term”") and ---- shall commence on the “Lease date hereof ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate at ----------------- 5:00 P.M. local time on the “Lease tenth (10th) anniversary of the Commencement Date (the "Expiration Date,” as "). ---------------
(b) Provided that term Tenant is set forth not in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes default of this Lease, Tenant shall have the option to renew this Lease for three (3) renewal terms of five (5) years each commencing upon the expiration of the initial ten (10) year Term or any previous renewal term, as the case may be, and ending at 5:00 P.M. local time five (5) years thereafter, unless any such renewal term “shall sooner terminate in accordance with this Lease Year” or otherwise; provided that (i) Tenant shall mean each consecutive twelve have notified Landlord in writing of Tenant's exercise of such renewal option not later than six (126) month months prior to the expiration of the initial Term hereof or the then existing renewal term, as the case may be, (ii) at the time such notice is given, this Lease shall be in full force and effect and Tenant shall not be in default hereunder for such period of time as would entitle Landlord to terminate this Lease pursuant to the terms hereof. Such renewal terms shall be upon all of the agreements, terms, covenants and conditions hereof except that Tenant shall pay Base Rent (hereinafter defined) to Landlord in monthly installments in an amount equal to the greater of (i) the fair market rate (the "Fair Market Rent") for ---------------- the Real Property (as defined herein) or (ii) one hundred and ten percent (110%) of the existing Base Rent on an "AS IS, WHERE IS" basis as of the commencement of the renewal term, as designated by Landlord within twenty (20) days after Landlord receives Tenant's renewal notice, but in no event greater than the rate of Base Rent in effect at the scheduled expiration of the Term or the applicable renewal term plus twenty-five percent (25%) thereof. In addition, during the Lease Termrenewal term, Tenant shall pay all other rent and other amounts due under the Lease. At any time during If Tenant does not approve of Landlord's designation of the Lease TermBase Rent for the renewal term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretothen Tenant, as a confirmation only of the information set forth thereinits sole remedy, which Tenant shall execute and return may submit in writing to Landlord within ten (10) business days after the Landlord's delivery of receipt thereof; providedits determination Fair Market Rent to Tenant (the "Renewal Commencement Date"), howeverits good faith ------------------------- determination of Fair Market Rent with appropriate back-up documentation. If the Tenant's determination of Fair Market Rent is within ten percent (10%) of the Landlord's determination of the same, the "Fair Market Rent" shall equal the ---------------- median number between each of the Tenant’s failure 's and Landlord's determination (but in no event shall the Fair Market Rent be less than the Base Rent existing on the last day of the Term plus ten percent (10%)). If the Tenant's determination of Fair Market Rent is not within ten percent (10%) of the Landlord's determination --- of the same, each of the Landlord and the Tenant shall choose an appraiser on the eleventh (11th) day after the Renewal Commencement Date to execute determine the "fair market rent" and return such notice to Landlord within such time the initial determinations shall be conclusive upon Tenant that disregarded for all purposes in determining the information set forth in such notice is as specified thereinFair Market Rent. In addition Each appraiser shall diligently attempt to agree on the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant Fair Market Rent on or before January 2, 2015 the twenty-fourth (the “Base Rent Delivery Date”), Tenant shall be entitled to one (124th) day of per diem Base Rent abatement for each day commencing on the day after the Renewal Commencement Date. If such appraisers agree on the Fair Market Rent on or before the twenty-fourth day after the Renewal Commencement Date, such agreed sum shall constitute the "Fair Market Rent". If the appraisers have not agreed on the Fair Market Rent by such day, (a) the appraisers shall select an independent third appraiser (the "Final Appraiser"), --------------- and (b) each such original appraiser shall deliver in writing to the Final Appraiser their last determination of the sum (each such sum being hereinafter referred to as the "Appraisal Price") that such appraiser believes is the Fair --------------- Market Rent. On or before the twenty-ninth (29th) day after the Renewal Commencement Date, the Final Appraiser shall choose one Appraisal Price or the other Appraisal Price as the "Fair Market Rent". Notwithstanding anything to ---------------- the contrary herein, in no event shall the Fair Market Rent be less than the Base Rent Delivery Date and ending on in effect at the date Landlord so tenders possession last day of the Premises to TenantTerm plus ten percent (10%) thereof. Any Tenant shall have no further renewal rights after the expiration of such Base Rent Abatement renewal terms. Upon the commencement of each renewal term, (x) the renewal term shall be separate from added to and become part of the Term, (y) any reference in addition this Lease, to the "Term", the "term of this Lease" or any Rent Abatement described in Section 3.2 belowsimilar expression shall ---- be deemed to include the renewal terms, and (z) the Expiration Date shall become the expiration of the applicable renewal term.
Appears in 2 contracts
Samples: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc), Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease shall commence on the date that both LI Substantial Completion (as hereinafter defined in Section 23.01(c)) and “LI Substantial Completion” under that certain Lease Agreement by and between Landlord and Tenant dated as of the Execution Date (the “Parking Lease”) have occurred (such date, the “Commencement Date”) and expire on the date which is the last day of the full calendar month One Hundred Twenty-Six (126) months thereafter (“Lease Term”). Notwithstanding the foregoing, if applicable, the Commencement Date shall be extended to be the earlier of (i) shall commence on forty-five (45) days following the “Lease Commencement Date,” start of Tenant’s right to early access (as that term is set forth described in Section 3.2 2.04); or (ii) commencement of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 commercial operation of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of Tenant’s business at the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term The initial “Lease Year” shall mean each consecutive consist of any partial month following the Commencement Date, and the subsequent twelve (12) month full calendar months. Each subsequent Lease Year shall consist of a consecutive period during of twelve (12) full calendar months thereafter. Upon determination of the Commencement Date and square footage of the Building pursuant to Article Nineteen, Landlord and Tenant shall promptly execute an acknowledgment form setting forth the actual Commencement Date, acceptance of the Premises and confirmation of the square footage of the Building. Failure to execute such acknowledgment shall not affect the actual Commencement Date or expiration of this Lease. Tenant shall have two (2) options to extend the Lease Term. At any time during Term of this Lease for consecutive terms of five (5) years each, subject to the Lease Term, Landlord may deliver to Tenant a notice in the form as terms and conditions set forth in Exhibit C, attached hereto, as a confirmation only of Article Twenty One in the information set forth therein, which Tenant shall execute and return Riders to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLease Agreement.
Appears in 2 contracts
Samples: Lease Agreement (Blue Apron Holdings, Inc.), Lease Agreement (Blue Apron Holdings, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January July 1, 2015, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each two (2) days that the delivery date is delayed beyond such date, 2015 (2) on or before August 1, 2015, then, as Tenant’s sole remedy for such delay (in addition to the “Base Rent Delivery Date”delay in subpart (1)), the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one additional day for each day that the delivery date is delayed beyond such date, or (3) October 1, 2015, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industrywide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord.
Appears in 2 contracts
Samples: Lease (RAPT Therapeutics, Inc.), Lease (RAPT Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” applicable to the Initial Premises as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. provided (provided that, for clarification purposes, Landlord and Tenant hereby acknowledges acknowledge and agree that the Tenant’s Base Rent obligations with regard to Must-Take Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the 1 and Must-Take Premises to Tenant on any specific date , then Landlord 2 shall not be subject commence until the Lease Commencement Date applicable to any liability for its failure Must-Take Premises 1 and the Lease Commencement Date applicable to do soMust-Take Premises 2, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunderrespectively). For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term, provided that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretohereto (the “Notice of Lease Term Dates”), as a confirmation only of the information set forth therein, which Tenant Xxxxxx shall execute and return to Landlord within ten fifteen (1015) business days of receipt thereof; providedthereof (provided that if the Notice of Lease Term Dates is not factually correct, however, Tenant’s failure then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such time fifteen (15) business day period). Such modified Notice of Lease Term Dates shall not be conclusive binding unless Landlord countersigns the notice with Tenant’s changes. If Landlord does not so countersign the notice, Landlord and Tenant shall work together in good faith to agree upon and mutually execute an acceptable notice. Landlord and Tenant hereby acknowledge and agree that the information set forth a Notice of Lease Term Dates may be delivered in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession connection with each of the Initial Premises, Must-Take Premises to Tenant on or before January 1 and Must-Take Premises 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 2 contracts
Samples: Office Lease (ServiceTitan, Inc.), Office Lease (ServiceTitan, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease October 1, 2016 ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the SummaryDecember 31, 2023 unless this Lease is sooner terminated as hereinafter provided. In the event that Tenant hereby acknowledges that does not vacate the Premises are currently occupied by another tenant of upon the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease expiration or the obligations of Tenant hereunder. For purposes termination of this Lease, Tenant shall be deemed in default of this Lease, and Landlord may commence eviction proceedings. Notwithstanding anything in this Lease to the contrary, Landlord shall have the option, in case of any such holding over, to convert the Lease term from a fixed term to a tenancy at will, in which case the term “Lease Year” shall mean each consecutive twelve will continue and no eviction proceedings commenced until the tenancy at will is terminated. Whether or not Landlord opts to convert the term to a tenancy at will, Tenant will be liable, during any holding over period, for base rent in an amount equal to one and a quarter (121.25) month times the Base Rent which would have been payable by Tenant had the holdover period during been a part of the Lease Termoriginal term of this Lease, together with all additional rent as provided in this Lease. At Because rent will accrue with respect to any time during holdover period in any event, no acceptance of rent by Landlord will be deemed an election to convert the Lease Termterm to a tenancy at will. Rather, Landlord may deliver will have the right to bring eviction proceedings unless and until Landlord elects, by written notice, to convert the term to a tenancy at will. Landlord hereby agrees that the Landlord's Work shall be completed as evidenced by the issuance of a City issued Certificate of Occupancy, and delivery of possession shall be delivered to Tenant no later than October 1, 2016 (the "Outside Delivery and Completion Date"). Landlord hereby acknowledges and understands that (a) the Tenant is a notice party to a certain lease agreement (the "Tenant's Current Lease"), wherein the Tenant is currently operating at another location (the "Tenant's Current Location") and (b) the execution of this Lease (i) has resulted in the form as set forth in Exhibit C, attached hereto, as a confirmation only Tenant's termination of the information set forth therein, which Tenant shall execute Tenant's Current Lease; and return (ii) will result in the Tenant's relocation of all or a portion of its operations from the Tenant's Current Location to Landlord within ten (10) business days the Premises. As a result of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject Landlord acknowledges and understands that it is critical to any delays caused by the Tenant's operations that early access to the Premises is granted to Tenant or any Tenant Parties on August 1, 2016 and events that the Landlord's Work is completed and that delivery of Force Majeurepossession occur no later than the Outside Delivery and Completion Date. Accordingly, if notwithstanding anything to the contrary, (a) in the event that the Landlord fails to tender possession of grant Tenant early access to the Premises to Tenant by August 1, 2016 as contemplated in Section 14.13 below; or (b) in the event that the Landlord's Work has not been completed on or before January 2the Outside Delivery and Completion Date or (c) in the event that delivery of possession has not yet occurred on or before the Outside Delivery and Completion Date, 2015 (and provided that such delay was not caused by the “Base Rent Delivery Date”)Tenant, Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described other rights or remedies which are available to Tenant under this Lease and/or which are otherwise available to Tenant at law or in Section 3.2 belowequity, Landlord shall be obligated to pay to the Tenant an amount which is equal to $2,600.00 per day.
Appears in 1 contract
Samples: Lease (DJO Finance LLC)
Lease Term. The terms and provisions of this 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
Samples: Lease Agreement
Lease Term. The terms and provisions of this Lease term shall be effective as of commence upon the date of this Lease. The term Substantial Completion of this Lease Landlord's Work (the “Lease Term”as said phrase is defined below) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 and delivery of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date ("Commencement Date") and end seven (7) calendar years thereafter ("Lease Term") , then Landlord shall not be subject unless terminated sooner pursuant to any liability for its failure to do so, and such failure shall not affect the validity other provisions of this Agreement or unless extended pursuant to this Section 1.02. The scheduled commencement date ("Scheduled Commencement Date") of the Lease or Term is MARCH 15, 1997. If the obligations of Tenant hereunder. For purposes of this LeaseLandlord's Work is Substantially Completed before the Scheduled Commencement Date, the term “Lease Year” Term shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver commence upon Substantial Completion and Landlord's delivery to Tenant of possession thereof. Within five calendar days after the Commencement Date, the parties shall each execute and deliver a notice commencement date certificate ("Commencement Date Certificate") in the form attached as set forth EXHIBIT "B" of this Agreement. The term "Lease Term" as used in Exhibit Cthis Agreement, attached heretoincludes any extension as defined in this Section 1.02, as a confirmation only provided the right to perform such extension is exercised. shall include such five (5) year extension and all of the information set forth therein, which Tenant provisions of this Agreement shall execute continue to be in full force and return to Landlord within ten (10) business days effect until the conclusion of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinextended Lease Term. In addition to the foregoing, in the event one of the parties hereto makes a transfer in fraud of its creditors, makes a transfer for the benefit of its creditors, is subject to any delays caused by Tenant bankruptcy proceedings, is adjudged bankrupt or any Tenant Parties and events insolvent in proceedings filed against it, a receiver, trustee or custodian is appointed for all or substantially all of Force Majeureits assets, if Landlord fails to tender possession pay its debts as they become due, convenes a meeting of all or a portion of its creditors, or performs any act of bankruptcy or insolvency, including the Premises selling of its assets to Tenant on or before January 2pay creditors, 2015 the other party hereto may terminate the Lease Term and this Agreement by means of prior written notice without any liability to either party (the “Base Rent Delivery Date”), Tenant shall be entitled except for obligations accrued in favor of one party prior to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowtermination).
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term, provided that if the Lease Commencement Date occurs on other than the first day of a month, the first “Lease Year” shall commence on the Lease Commencement Date and end on the last day of the month in which the first anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first day of a calendar month, then the first Lease Year shall commence on the Lease Commencement Date and end on the day immediately preceding the first anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided. Notwithstanding the foregoing, howeverif the Early Occupancy Date (as defined in Section 2.1.2 below) has not occurred, (1) on or before March 20, 2024, then, as Tenant’s failure sole remedy for such delay, the date Tenant is otherwise obligated to execute and return commence payment of rent as to the Early Occupancy Space after the Lease Commencement Date shall be delayed by one day for each day that the Early Occupancy Date is delayed beyond such date, or (2) September 1, 2024, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord within such time shall be conclusive upon 0000-0000-0000.7371310.00016/10-2-23/gjn/gjn -7- [Britannia Oyster Point][Pliant Therapeutics] reimbursed to Tenant. In addition, notwithstanding the foregoing, if Landlord has not delivered possession of the remainder of the Premises (other than the Early Occupancy Space) Substantially Complete on or before September 15, 2024, then, as Xxxxxx’s sole remedy for such delay (but subject to the terms of the preceding sentence), the date Tenant is otherwise obligated to commence payment of rent as to the portion of the Premises on the first floor of the Building shall be delayed by one day for each day that the information delivery date is delayed beyond such date. All of the foregoing dates shall be extended to the extent of any delays in delivery of possession caused by (i) Tenant Delay, as provided in Section 5.2 of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay shall not extend any such date by more than fifteen (15) days, other than the date set forth in such notice is as specified therein. In addition item (2) above which may be extended up to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 thirty (the “Base Rent Delivery Date”30) days), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Lease (Pliant Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided. Notwithstanding the -5- HCP, howeverINC. [The Cove at Oyster Point] [Global Blood Therapeutics, 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 Inc.] 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 April 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) August 1, 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
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
Samples: Lease (Biosphere Medical Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on as a result of an existing tenant holding over in all or any specific date portion of the Premises, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder, so long as Landlord, at its expense, is promptly and diligently taking all actions reasonably necessary to cause such existing tenant to vacate such portion of the Premises, including any required legal proceeding, to secure possession of the Premises prior to “Outside Delivery Date,” as defined below, if possible, or if not possible by such date, as soon thereafter as possible. Notwithstanding the foregoing, if and to the extent that Landlord fails to deliver possession of the Premises to Tenant on or before September 1, 2017 (the “Outside Delivery Date”) for any reason, then the date set forth in Section 3.2 of the Summary (i.e., March 1, 2018) shall be delayed on a day-for-day basis for each day beyond the Outside Delivery Date that Landlord fails to so deliver the Premises to Tenant. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, . Tenant’s failure to execute and return such notice to Landlord (or to deliver to Landlord in good faith, corrective comments with respect to such notice) within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Office Lease (Airbnb, Inc.)
Lease Term. The (a) Subject to and upon the terms and provisions of conditions set forth in this Lease, this Lease shall be effective as of continue in force for the date of this Lease. The term of this Lease (the “Lease Term”. Notwithstanding the Commencement Date provided in Paragraph l(e) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, Tenant's obligation for the term “Lease Year” shall mean each consecutive twelve (12) month period during payment of rent and the Lease Term. At any time during the Lease Term, Term shall not commence until Landlord may deliver has substantially completed all work to Tenant a notice in the form be performed by Landlord as set forth in Exhibit C, the Work Letter Agreement attached hereto, hereto as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofEXHIBIT "D"; provided, however, that if Landlord shall be delayed in substantially completing said work as a result of any of the following (a "DELAY"):
(i) Tenant’s 's failure to execute furnish information in accordance herewith or to respond to any request by Landlord for any approval or information within any time period prescribed, or if no time period is prescribed, then within three Business Days of such request; or
(ii) Tenant's insistence on materials, finishes or installations other than Landlord's Building Standard after having first been informed by Landlord in writing at or before the time of delivery to Tenant of final construction pricing for Tenant's approval that such materials, finishes or installations will cause a Delay; or
(iii) Tenant's changes in any plans and return specifications; or
(iv) The performance by a person, firm or corporation employed by Tenant in the completion of any work by said person, firm or corporation (all such notice work and such persons, firms or corporations being subject to Landlord within such time shall be conclusive upon the approval of Landlord); or
(v) Any request by Tenant that Landlord delay the information set forth in such notice is as specified therein. In addition to the foregoing, subject to completion of any delays caused of Landlord's work; or
(vi) Any breach or default by Tenant or any Tenant Parties and events in the performance of Force Majeure, if Landlord fails to tender Tenant's obligations under this Lease; or
(vii) Any delay resulting from Tenant's having taken possession of the Premises prior to Tenant on or before January 2its being substantially completed, 2015 as defined below; or
(the “Base Rent Delivery Date”), Tenant shall be entitled to one (1viii) day Any reasonably necessary displacement of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession any of Landlord's work from its place in Landlord's construction schedule resulting from any of the Premises causes for Delay; or
(ix) Any other delay chargeable to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below., its agents, employees or independent contractors;
Appears in 1 contract
Lease Term. The (a) Subject to and upon the terms and provisions conditions set forth in the Lease, or in any exhibit attached hereto, the primary term of this Lease shall commence on the earlier of (i) the Completion Date or (ii) the date Tenant occupies all or part of the Leased Premises, (such earlier date being the “Commencement Date”) and shall expire on the last day of the eighty-sixth (86th) full month after the Commencement Date or such earlier date as this Lease may terminate as provided herein; provided, however, the term of this Lease shall not commence prior to the one hundred twenty-second (122nd) day following the Effective Date (the “Estimated Completion Date”) unless Tenant occupies all or a part of the Leased Premises prior thereto. The “Lease Term” of this Lease shall be effective the primary term specified in this Section 2.01, as renewed or otherwise extended or earlier terminated pursuant to the terms and provisions set forth herein.
(b) As used herein, “Completion Date” means the date Tenant’s leasehold improvements are Substantially Completed (as defined below); provided, that, if Tenant occupies any part of the date of this Lease. The term of this Leased Premises before the Commencement Date, the Lease (the “Lease Term”) Term and Tenant’s obligation to pay Rent shall commence on the “Lease date Tenant occupies the Leased Premises and such date shall be deemed to be the Commencement Date,” . Except as that term provided in subsection (c) below, Tenant is set forth in Section 3.2 deemed to occupy the Leased Premises when Tenant takes possession of any part of the SummaryLeased Premises for any purpose, including placing furniture and shall terminate on installing Tenant’s equipment (other than telephone equipment) in the “Leased Premises. If the Commencement Date is other than the first day of a calendar month, the Lease Expiration Date,” Term will be extended and will be calculated as that term is set forth in Section 3.3 if the Commencement Date were the first day of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that next full calendar month and the Premises are currently occupied by another tenant of Rent hereunder will be prorated for the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfirst partial month.
Appears in 1 contract
Samples: Lease Agreement (Sigmatel Inc)
Lease Term. 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 Xxxxxx shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s Xxxxxx'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. (A) The term of this Lease (the “Lease Term”) shall commence on the “Lease date hereof and shall end three (3) years and zero (0) months after the Rent Commencement Date,” as that term is set forth in Section 3.2 . The "Rent Commencement Date" shall be the 1st day of March 1996, provided, the Landlord has completed construction of the Summary, Premises and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 installation of the SummaryTenant fit-up specifications listed on Exhibit B, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that entitled "Description of Work to be Performed by Landlord", attached hereto and the Premises are currently occupied by another tenant tendered in writing to Tenant for occupancy on or before March 1, 1996. Should the Premises be tendered to Tenant for occupancy on a date later than March 1, 1996 the Rent Commencement Date shall be deemed to be the date Tenant actually opens for business in the Premises or the date which is thirty (30) days after the Landlord makes written tender of the Building. If Landlord is unable for Premises to the Tenant, whichever be earlier.
(B) At any reason time prior to deliver the delivery of possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Leaseas aforesaid, the term “Lease Year” Tenant, his agents, servants or employees shall mean each consecutive twelve (12) month period during have the Lease Term. At any time during right to come on the Lease Term, Landlord may deliver to Tenant a notice in Premises for the form as set forth in Exhibit C, attached hereto, as a confirmation only purpose of the information set forth taking measurements therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; but for no other purpose, provided, however, Tenant’s failure to execute and return that such notice to Landlord within such time entry shall be conclusive not unreasonably interfere with or obstruct the progress of the work being done by the Landlord. Tenant agrees that upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender receiving possession of the Premises from the Landlord, as aforesaid, it will with due diligence proceed to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant install such fixtures and equipment and perform such other work as shall be necessary or appropriate in order to prepare the Premises for the opening of business, including, but not limited to, the work described in the attached Exhibit C, entitled "Description of Work to one be Performed by Tenant". In the event the Tenant does not commence the operation of its business within ninety (190) day of per diem Base Rent abatement for each day commencing on the day days after the Base Rent Delivery Date and ending on the date Landlord so tenders receiving possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and the Landlord, the Landlord, in addition to any Rent Abatement described in Section 3.2 belowother remedy hereunder, shall have the option of terminating this Lease by giving the Tenant written notice of such termination, whereupon this Lease shall be terminated.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"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 shall have the right to occupy the Premises are currently occupied by another tenant prior to the Lease Commencement Date for the conduct of business (the "Early Occupancy Right"), provided that (A) Tenant shall give Landlord prior notice of any such occupancy of the Building. If Landlord Premises, (B) a certificate of occupancy, temporary certificate of occupancy, or its legal equivalent, shall have been issued by the appropriate governmental authorities for the Premises, and (C) all of the terms and conditions of the Lease shall apply, other than Tenant's obligation to pay "Base Rent," as that term is unable for any reason defined in Article 3 below, and "Tenant's Share" of the "Direct Expenses," as those terms are defined in Article 4, below, as though the Lease Commencement Date had occurred (although the Lease Commencement Date shall not actually occur until the occurrence of the same pursuant to deliver possession the terms of the second sentence of this Article 2) upon such occupancy 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 hereunderby Tenant. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten fifteen (1015) business days of receipt thereof; providedthereof (provided that if said notice is not factually correct, however, Tenant’s failure then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified 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 fifteen (the “Base Rent Delivery Date”15) business day period), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Office Lease (Kite Pharma, 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 or any obligations to maintain, repair or comply with laws. The term of this Lease (the “"Lease Term”") shall be as specified in Section 7.1 of the Summary and shall commence on the “date (the "Lease Commencement Date,” as that term is set forth ") specified in Section 3.2 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 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Notwithstanding the foregoing, Tenant hereby acknowledges that as of the Lease Date, the Premises are currently presently being occupied by another tenant RESOURCE/PHOENIX, INC., a California corporation (the "Existing Tenant") under a sublease from PEOPLESOFT USA, INC., a Delaware corporation ("PeopleSoft"). Landlord's delivery to Tenant of possession of the BuildingPremises by the Lease Commencement Date is contingent upon (i) Landlord entering into lease termination agreements with the Existing Tenant and with PeopleSoft satisfactory to Landlord, and (ii) the Existing Tenant vacating the Premises and surrendering possession thereof to Landlord by the Lease Commencement Date; provided that Landlord shall use commercially reasonable efforts to enter into such lease termination agreements and cause Existing Tenant to vacate the Premises and surrender possession thereof to Landlord by the Lease Commencement Date. Landlord anticipates that Landlord will be able to deliver approximately 34,537 rentable square feet of the Premises on the ground floor of the Building (the "Initial Premises") to Tenant on or about the Lease Commencement Date; the balance of the Premises on the second floor of the Building comprising approximately 32,945 rentable square feet (the "Remaining Premises") is anticipated to be delivered to Tenant on or about October 1, 2001 (the "RP Commencement Date"). If Landlord is unable Landlord, for any reason to whatsoever, cannot deliver possession of the Initial Premises to Tenant on any specific date the Lease Commencement Date, then Landlord shall not be subject to any liability nor shall the validity of the Lease be affected; provided, the Term of this Lease and the obligation to pay Rent or any obligations to maintain, repair or comply with laws shall commence on the date possession is actually tendered to Tenant and the Lease Expiration Date shall be extended commensurately. If Landlord, for its failure any reason, cannot deliver possession of the Remaining Premises to do soTenant on the RP Commencement Date (in the condition that exists on the day after the Existing Tenant vacates the Remaining Premises) without any improvements, and such failure alterations, repairs, refurbishment or other modifications being made thereto (except as may be necessary to satisfy the requirements of Section 1.2 above), Landlord shall not affect be subject to any liability nor shall the validity of this Lease or be affected; provided 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 RP Commencement Date shall be conclusive upon Tenant that extended commensurately by the information set forth period of time Landlord is delayed 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 so delivering possession of the Remaining 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 without any Rent Abatement described in Section 3.2 below.improvements,
Appears in 1 contract
Samples: Office Lease (Avigen Inc \De)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this LeaseExecution Date. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Rent Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure . Tenant shall have the right to execute and return such notice occupy the Premises (or certain portions of the Premises) to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition conduct its business prior to the foregoingRent Commencement Date, subject to provided that (A) Tenant shall give Landlord at least three (3) business days' prior notice of any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession such occupancy of the Premises to Tenant on (or before January 2, 2015 (the “Base Rent Delivery Date”portion thereof), Tenant (B) a temporary certificate of occupancy or its equivalent shall be entitled to one (1) day of per diem Base Rent abatement have been issued by the appropriate governmental authorities for each day commencing on the day after the Base Rent Delivery Date such portion to be occupied, and ending on the date Landlord so tenders possession (C) all of the Premises terms and conditions of this Lease shall apply (including, without limitation Tenant's obligation to deliver a certificate of insurance to Landlord in accordance with the terms of Section 10.4 below), other than Tenant. Any such 's obligation to pay "Base Rent," as that term is defined in Article 3 below, and "Tenant's Share" of the annual "Building Direct Expenses," as those terms are defined in Article 4, below, as though the Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowCommencement Date had occurred.
Appears in 1 contract
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
Samples: Industrial Lease
Lease Term. The terms and provisions of this Lease shall be effective as of the date mutual execution and delivery 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 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 full twelve (12) calendar 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 TermTerm (but not more than once during each of the initial Lease Term and any extension thereof), 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, howeverthat if such notice is not factually correct, Tenant’s failure then Tenant shall make such reasonable 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) business 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 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,” . 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
Lease Term. The terms and provisions of this (a) This Lease shall be become legally effective as of and binding upon the parties immediately upon the date of this Lease. The term full and final execution and delivery hereof, subject to terms, covenants and conditions set forth herein (including the conditions precedent and termination rights of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is parties set forth in Section 3.2 of the Summary54, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunderbelow). For purposes of this Lease, (1) the term “Term” or “Lease YearTerm” shall mean the Initial Term and, if applicable, any exercised Renewal Terms (as defined herein), (2) the initial fixed term of this Lease (exclusive of any exercised Renewal Terms) is sometimes referred to herein as the “Initial Term”, and (3) the Renewal Terms (exclusive of the Initial Term) are sometimes each consecutive twelve (12) month period during referred to herein as a “Renewal Term” and collectively as the “Renewal Terms”. The Initial Term of this Lease Term. At any time during shall commence for each phase of the Lease Term, Landlord may deliver Premises delivered to Tenant a notice on the date upon which Substantial Completion of such phase has been achieved and tender of possession of such phase has been made to Tenant pursuant to the Phasing Plan (as defined in the form as Work Agreement) in accordance with the provisions of Sections 1.3(b) and (c), below (such date with respect to each such phase, the “Commencement Date”), and shall expire on the “Lease Expiration Date” which shall be the last day of the one hundred eightieth (180th) full calendar month after the Rent Commencement Date for the last phase of the Premises delivered to Tenant hereunder; provided that for all purposes of this Lease, the duration of any Renewal Terms or extension terms exercised by Tenant shall be added onto the initial Lease Term stated to be in effect under the preceding clause. In no event will possession of (or early access to) any applicable phase of the Premises be delivered to Tenant prior to the Commencement Date for such phase except (i) for early access (“Early Access”) granted pursuant to an Access Agreement reasonably satisfactory to Landlord and Tenant (which may, inter alia, obligate Tenant to be insured, and otherwise comply with certain covenants and indemnities set forth in this Lease with respect to its use, occupancy and activities within portions of the Premises during any period of occupancy of the Premises prior to the Commencement Date), and/or (ii) for purposes of Early Work, as such term is defined in Exhibit C, attached heretoand subject to all terms, as a confirmation only covenants, indemnities and limitations applicable to Early Work under Exhibit C. Prior to the Rent Commencement Date for each phase hereunder, Tenant shall be bound by all of the information set forth thereinterms and conditions of this Lease applicable to such phase, which other than those requiring the payment of Base Rent and Additional Rent by Tenant, provided Tenant shall execute be responsible during the period between the Commencement Date and return the Rent Commencement Date only for the utility expense applicable to that phase of the Premises which has been delivered to Tenant, but not for utility expenses associated with the undelivered balance of the Premises (if any).
(b) Landlord within ten (10) business days and Tenant acknowledge and agree that the mutual intent of receipt thereof; providedLandlord and Tenant is that Landlord deliver, howeverand Tenant take possession of, Tenant’s failure the Premises, on a phased basis in accordance with, and subject to execute the terms and return such notice to Landlord within such time conditions of, the Phasing Plan. Tenant shall be conclusive obligated to accept possession of each applicable phase of the Premises upon Tenant (i) Landlord’s certification that the information set forth in it has achieved Substantial Completion thereof and (ii) tender of possession of such notice is as specified therein. In addition phase by Landlord to the foregoingTenant, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if provided that (1) Landlord fails will not be entitled to tender possession of any phase of the Premises (nor may Tenant take possession of any phase of the Premises except for purposes of Early Access, if applicable, or Early Work pursuant to Exhibit C) prior to the date indicated for delivery of such phase under the Phasing Plan, (2) Landlord shall be obligated to provide Tenant with written notice of its intent to tender possession of each applicable phase of the Premises not less than five (5) calendar days prior to the date of such tender of possession (such notice, a “5-Day Notice”), so that the parties can schedule a walk-through of such phase on or before January 2, 2015 the date of tender of possession thereof (and Landlord and Tenant each agree to make themselves available for the “Base Rent Delivery Date”), Tenant shall be entitled to one walk-through on such fifth (15th) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date 5-Day Notice), and ending on the date Landlord so tenders (3) in no event will any phase of delivery of possession of the Premises involve less than full floors of the Premises, in each instance under the preceding clauses (1) - (3) unless otherwise approved by Tenant, which approval may be withheld in Tenant’s sole and absolute discretion. Subject to Tenant. Any such Base Rent Abatement ’s right to dispute and/or require arbitration of Landlord’s certification that it has achieved Substantial Completion of a phase of the Premises, as more fully set forth in Section 1.3(c), below, “tender of possession” by Landlord to Tenant shall be separate deemed to have occurred on the later to occur of (A) the fifth (5th) day after the 5-Day Notice, or (B) the first (1st) business day after Landlord’s delivery of a written certificate to Tenant (or to Tenant’s Representative, as defined in Exhibit C) certifying that it has achieved Substantial Completion of such applicable phase of the Premises (a “Certification of Substantial Completion), provided Landlord delivers keys or electronic key cards enabling Tenant to enter such phase of the Premises, and has provided free access to such phase of the Premises, by such 5th day or following business day, as the case may be.
(c) In the event Tenant, in good faith, disputes that Landlord’s Certification of Substantial Completion for any phase of the Premises is accurate, Tenant shall, within five (5) business days after receipt of Landlord’s Certification of Substantial Completion for such phase, provide a written notice to Landlord specifying in reasonable detail the basis for such dispute (a “SC Dispute Notice”). Tenant’s SC Dispute Notice shall be limited to identifying those incomplete items or deviations from the Construction Documents or this Lease which Tenant believes in good faith causes such phase of the Premises not to be Substantially Complete. If Landlord is in agreement with Tenant’s SC Dispute Notice, Landlord shall, within two (2) business days after its receipt of Tenant’s SC Dispute Notice, so notify Tenant in writing. If Landlord is not in agreement with Tenant’s SC Dispute Notice, Landlord shall, within two (2) business days after its receipt of Tenant’s SC Dispute Notice, so notify Tenant, which notice will identify all items identified within Tenant’s SC Dispute Notice with which Landlord agrees, and all items identified within Tenant’s SC Dispute Notice with which Landlord, in addition good faith, disagrees, and the basis for such disagreement. If Landlord agrees that Tenant’s SC Dispute Notice is accurate, then Landlord shall promptly satisfy all items identified therein, and the Certification of Substantial Completion shall, in such event, be deemed effective no earlier than the first (1st) business day following the date upon which Landlord completes its remedy of all applicable items identified in Tenant’s SC Dispute Notice and provides Tenant with a revised Certification of Substantial Completion for such phase (which revised certification shall itself be subject to dispute resolution in accordance with this subsection). If Landlord, in good faith, agrees with only a portion of Tenant’s SC Dispute Notice, or disagrees entirely therewith, then the parties shall meet promptly thereafter to attempt to resolve, in good faith, all matters in dispute (and Landlord agrees that it will concurrently address all items identified in Tenant’s SC Dispute Notice as to which there is no disagreement, if any). If the parties are unable, despite their good faith efforts, to resolve their disagreement as to any or all of the items in Tenant’s SC Dispute Notice within a five (5) business day period after the date Landlord’s written response to Tenant’s SC Dispute Notice is received by Tenant, then the parties shall promptly submit the matter in dispute to expedited arbitration pursuant to Section 49 of this Lease. In any such arbitration, the panel of arbitrators shall have the right, inter alia, (A) to determine that the date of Substantial Completion of the applicable phase was (i) the date stated in Landlord’s Certification of Substantial Completion, (ii) an alternative date advocated by Tenant, (iii) such other date as may be proposed by the parties, or (iv) such other date as the arbitrators may decide that Substantial Completion of such phase actually occurred, (B) to determine that Substantial Completion of the applicable phase has not yet occurred, and/or (C) to enter findings as to which items must be addressed in order for Substantial Completion to occur, if any. Nothing set forth in this subsection shall be construed to restrict Landlord and Tenant from mutually agreeing to resolve any dispute as to the correctness or accuracy of Landlord’s Certification of Substantial Completion on a basis different from that set forth herein. In the event the date of Substantial Completion of a phase of the Premises is found to have been different from that set forth in Landlord’s Certification of Substantial Completion, and Tenant made a payment of Rent Abatement described to Landlord prior to the date such payment would otherwise have been due because of such inaccurate Certification of Substantial Completion, then Landlord shall credit Tenant (against the next payment of Rent due from Tenant to Landlord) with interest on such prepaid amount, calculated at the Prime Rate, from the date such prepaid amount was actually paid by Tenant to the date such amount would have been due and payable had the actual date of Substantial Completion been accurately stated in Section 3.2 belowthe Certification of Substantial Completion.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 5.1 of the Summary, shall commence on the date which is the earlier to occur of (i) the date Tenant occupies the Premises, or (ii) the date the Premises is Ready for Occupancy, as that term is defined in this Article 2, of the Premises by Landlord (“Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary”), and shall terminate on the date set forth in Section 7.4 of the Summary (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, ”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the eleventh month thereafter and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. For purposes of this Lease, and if applicable, “Substantial Completion” of the Premises shall occur upon the completion of construction, as reasonably determined by Landlord, of the “Tenant Improvements,” as that term is defined in the Tenant Work Letter, in the Premises pursuant to the plans and drawings which are prepared pursuant to the terms of the Tenant Work Letter, with the exception of any punch list items and any tenant fixtures, work–stations, built–in furniture, or equipment to be installed by Tenant in the Premises pursuant to the terms of the Tenant Work Letter or to be installed under the supervision of “Contractor” as that term is defined in the Tenant Work Letter (the “Tenant Work”). At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, hereto which notice Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Office Lease (Accelrys, Inc.)
Lease Term. The terms and provisions of this 3.1 This Lease shall be effective as of the date of this Leaseand binding when fully executed by both parties. The term of this Lease (Term shall be the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is period set forth in Section 3.2 1.1(c) above. If the Lease Commencement Date is not the first day of a month, then the Summary, and Lease Term shall terminate on be the “Lease Expiration Date,” as that term is period set forth in Section 3.3 1.1(c) above plus the partial month in which the Lease Commencement Date occurs. The Lease Term shall include any and all renewals and extensions of the Summary, unless Lease Term.
3.2 It is presently anticipated that the Delivery Date will occur within two (2) days following the date that this Lease is sooner terminated as hereinafter fully executed by Landlord and Tenant; provided. Tenant hereby acknowledges , however, that the Premises are currently occupied by another tenant of the Building. If if Landlord is unable for any reason to does not deliver possession of the Premises by such date, then (a) Landlord shall not have any liability whatsoever to Tenant on any specific date account of such failure, then Landlord (b) this Lease shall not be subject to any liability for its failure to do sorendered void or voidable as a result thereof, and such failure shall not affect (c) 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 Delivery 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 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 that Landlord so tenders delivers possession of the Premises to Tenant. Any such Base Upon Landlord’s request, Landlord and Tenant shall execute a certificate confirming the Delivery Date, Lease Commencement Date and Rent Abatement Commencement Date.
3.3 All of the provisions of this Lease shall also apply during the period commencing on the Delivery Date and prior to the Lease Commencement Date, except that Tenant shall have no obligation to pay rent, except as specifically stated herein, with respect to any period prior to the Lease Commencement Date or Rent Commencement Date, as applicable. After Landlord delivers the Premises to Tenant, Tenant shall proceed with due dispatch and diligence to open the Premises for business by the Lease Commencement Date.
(a) Subject to the terms of this paragraph, Tenant shall have a right of first refusal (the “Right of First Refusal”) to lease the Premises (“Right of First Refusal Space”). The Tenant’s Right of First Refusal shall be separate triggered during the Term when and if the Landlord receives a bona fide proposal from a prospective tenant to lease the Premises.
(b) Landlord will notify Tenant if and when it receives a bona fide offer to lease the Premises (“Right of First Refusal Notice”). Tenant will have ten (10) days following delivery of such Right of First Refusal Notice during which to notify Landlord in addition writing of Tenant’s intent to lease all and not a portion of the Premises on the terms outlined in the Landlord’s Right of First Refusal Notice or to reject leasing the same. Tenant’s failure to timely exercise its Right of First Refusal within said ten (10)-day period shall be deemed an absolute waiver by Tenant of its right to lease said Right of First Refusal Space and this paragraph shall thereafter be of no further force and effect. Upon Xxxxxx’s rejection (or deemed rejection) of the Right of First Refusal Space specified in Xxxxxxxx’s Right of First Refusal Notice, Landlord shall be free to lease said Right of First Refusal Space to any Rent Abatement described in Section 3.2 belowother person or entity on any terms.
(c) Tenant’s Right of First Refusal shall be subject to the following conditions:
(i) at the time of the exercise of such right and throughout the period prior to the beginning of the term of the Right of the First Refusal Space, there is no existing outstanding default by Tenant which has not been remedied within the applicable cure period.
(d) If Tenant timely and properly exercises the Right of First Refusal granted hereby, Tenant and Landlord shall execute an amendment to the Lease memorializing said extension of the Term of the Premises and the terms applicable thereto. If Tenant fails to timely notify Landlord of its desire to exercise the Right of First Refusal granted hereby, then Tenant shall be deemed to have conclusively waived its Right of First Refusal.
Appears in 1 contract
Samples: Charter Agreement Amendment
Lease Term. (a) The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease (the “Lease "Initial Term”") ---------- shall commence be for a period of twenty (20) years, commencing on the “Lease date hereof (the "Commencement Date,” as that term is set forth in Section 3.2 ") and automatically terminating without further notice or demand on the expiration of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 twentieth (20th) anniversary of the SummaryCommencement Date.
(b) Provided that no Event of Default has occurred which remains uncured by Tenant, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that shall have the Premises are currently occupied by another tenant of right and option to extend 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 for four (4) successive terms of twenty (20) years each (each an "Extension Term") (the obligations of Tenant hereunder. For purposes of this LeaseInitial Term and any Extension Term, as applicable, are collectively referred to as the term “Lease Year” shall mean each consecutive twelve (12) month period during "Term"), upon the Lease same terms and conditions applying to the Initial Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return have the right to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure exercise such option to execute and return such extend the Term by providing written notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to no less than one (1) day of per diem Base Rent abatement for each day commencing on year prior to the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession expiration of the Premises Initial Term or the then current Extension Term, as applicable. Notwithstanding the foregoing, the parties desire to avoid the inadvertent failure of Tenant of exercising the option to extend the Term. Accordingly, Landlord agrees that, if Tenant does not give written notice to Landlord of its election to exercise the extension option prior to the notice deadline set forth above, such option to extend shall remain in effect until the later of one year prior to the expiration of the Initial Term or the then current Extension Term, as applicable, or the expiration of thirty (30) days following Tenant. Any 's receipt of written notice from Landlord stating that Tenant's option to extend must be exercised or will lapse; provided, further, that Landlord may provide such Base Rent Abatement shall be separate from and in addition reminder notice at any time within three (3) years prior to any Rent Abatement described in Section 3.2 belowthe scheduled expiration of the Initial Term or the then current Extension Term, as the case may be.
Appears in 1 contract
Lease Term. The terms and provisions of this This Lease shall be effective as of for the date of this Lease. The term of this Lease stated in Section 1.3 above (the “Term” or “Lease Term”) and shall commence on the earlier of (a) one hundred twenty (120) days following the latest to occur of (i) Landlord’s approval of Tenant’s plans for Tenant’s Work (defined below) provided Tenant submits plans for Tenant’s Work to Landlord no later than November 1, 2003 and thereafter timely responds to comments from Landlord, (ii) Landlord’s delivery of the Leased Premises to Tenant in a broom clean condition, free of all violations and the personal property and signage of any previous occupant, with Substantial Completion of Landlord’s Work (as defined in Section 3.2(a) below) and (iii) the date Tenant receives a building permit for the construction of Tenant’s Work provided Tenant submits plans for Tenant’s Work to the City of Seattle no later than December 1, 2003 and thereafter timely responds to comments from the City of Seattle or (b) the day that Tenant opens for business (the “Lease Commencement Date,” ”). It is anticipated that Landlord will deliver possession of the Leased Premises to Tenant on March 1, 2004 (the “Anticipated Delivery Date”), however, Landlord’s failure to do so shall not result in any liability to Landlord or otherwise affect Tenant’s obligations under this Lease except as that term is otherwise set forth in Section 3.2 below. If for any reason Landlord is unable to deliver possession of the Summary, and shall terminate Leased Premises on the “Lease Expiration Anticipated Delivery Date,” as that term is set forth in Section 3.3 of , Landlord must provide written documentation to Tenant no later than forty-five (45) days prior to the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the BuildingAnticipated Delivery Date. If Landlord is unable for any reason to deliver possession of the Leased Premises on the Anticipated Delivery Date and Landlord fails to provide such notification to Tenant on any specific date when required, then Landlord shall not be subject pay to Tenant, as liquidated damages, $750.00 per day for each day of delay (the “Late Fee”). If such delay continues beyond July 1, 2004, then, in addition to any liability for its failure Late Fee that may be due Tenant, Tenant shall have the right to do so, and such failure shall not affect the validity of terminate this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such upon notice to Landlord within such time shall be conclusive upon Tenant that delivered no later than the information set forth in such notice is as specified therein. In addition to earlier of (i) July 15, 2004 and (ii) the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events date of Force Majeure, if Landlord fails to tender possession Landlord’s Delivery of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Leased Premises to Tenant. Any such Base Rent Abatement In the event Tenant terminates this Lease in accordance with the preceding sentence, Landlord shall reimburse Tenant for the reasonable out-of-pocket costs incurred by Tenant in preparation and/or review of Tenant’s plans and specifications for the Leased Premises. In no event shall Tenant be separate from required to accept delivery of possession of the Leased Premises prior to the Anticipated Delivery Date. Notwithstanding anything to the contrary contained herein, Tenant shall not be required to begin construction or initially open for business in the Leased Premises unless (a) tenants occupying ninety percent (90%) or more of the retail portion of University Village and (b) Crate & Barrel, Apple, Victoria’s Secret and Talbots (the “Named Tenants”) have signed leases and are scheduled to open no later than sixty (60) days following the date Tenant is required to open for business hereunder. Landlord shall verify the foregoing in addition writing and provide a leasing plan showing the names, square foot areas and opening dates of the Named Tenants no later than forty-five (45) days prior to any Rent Abatement described in Section 3.2 belowthe date Tenant is scheduled to commence construction.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this 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 With respect to Suite #210, the term of this Lease shall be effective as for a period of sixty seven (67) months, commencing on the 1st day of May, 2000 (the "Suite #210 Commencement Date"), and with respect to the 3,723 square feet comprising Suite #250 of the date of this Lease. The Premises, the term of this Lease (the “Lease Term”) shall commence on December 1, 2000 (the “Lease "Suite #250 Commencement Date,” as that term is set forth in Section 3.2 of the Summary"), and shall terminate ending for the entire Premises at midnight on the “30th day of November, 2005 ("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 BuildingTerm"). If Landlord is unable for any reason to Landlord cannot deliver possession of Suite #210 to the Premises to Tenant on any specific date or before the Suite #210 Commencement Date, then Landlord or cannot deliver possession of Suite #250 to the Tenant on or before the Suite #250 Commencement Date, Tenant shall not be obligated to pay Rent for a suite comprising part of the Premises until possession of such suite is tendered to Tenant. In such event, the Lease Term shall be extended so that the term remains 67 months. If the Premises is 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 67 months from the first day of the following month. In the event that delivery of possession results from Tenant's failure to perform work for which Tenant is responsible, or Tenant fails to furnish or approve the plans and specifications as provided above, or fails to make timely selections of materials, color choices or other matters for which Tenant is responsible, Rent and Additional Rent shall, nonetheless, commence on the Commencement Date. If Tenant occupies the Premises prior to the Commencement Date, such occupancy shall be subject to any liability all provisions hereof and shall not advance the last day of the Lease Term, and Tenant shall pay Rent for its such period at the initial monthly rate set forth below. At the request of Landlord, Tenant hereby agrees to execute a declaration in the form attached hereto as Exhibit C ("Declaration") as incorporated herein by reference. Tenant's failure to do so, and such failure execute the Declaration shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this LeaseSuite #210 Commencement Date, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during Suite #250 Commencement Date or the Lease Term, Landlord may deliver to Tenant a notice in as the form as set forth in Exhibit C, attached hereto, as a confirmation only same are determined by the terms 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 belowthis Lease.
Appears in 1 contract
Samples: Office Lease (Talk America)
Lease Term. The terms Tenant(s) is herein granted the right to occupy the Leased Premises for and provisions during the initial Term of (____) year(s) (____) days/months beginning the first day of ______________, _______ and ending the _____ day of ______________, _______. Notwithstanding section 2.01, the Tenant(s) shall have no right to occupy the Leased Premises until such time as the rent for the first rental period, along with any last month’s rent deposit as may be set out in this Lease shall be effective as agreement, have been paid to the Landlord by guaranteed funds. Failure by the Tenant to pay the Landlord these sums prior to the commencement of the date tenancy shall, at the Landlord’s sole and exclusive option, make this entire agreement null and void, negating any rights of this Leaseoccupancy that the Tenant(s) would otherwise have had, and the Landlord will retain the right to bring an action for any and all damages which may be allowed in law in any Court of competent jurisdiction. The term of this Lease (Notwithstanding section 2.01, the “Lease Term”Tenant(s) shall commence on have no right to occupy the “Lease Commencement Date,” Leased Premises until such time as that term the responsibility for payment of utilities for which the Tenant(s) is obligated to pay under this Agreement have been transferred directly to the Tenant’s name. Failure by the Tenant to transfer and accept responsibility as set forth out in Section 3.2 this Agreement prior to the commencement of the Summarytenancy shall, at the Landlord’s sole and exclusive option, make this entire agreement null and void, negating any rights of occupancy that the Tenant(s) would otherwise have had, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of Landlord will retain the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable right to bring an action for any reason to deliver possession and all damages which may be allowed in law in any Court of competent jurisdiction. At the Premises to Tenant on expiration of any specific date , then Landlord shall not be subject to any liability Lease Term provided for its failure to do so, and such failure shall not affect the validity of in this Lease or the obligations of Tenant hereunder. For purposes of this LeaseAgreement, the term “Lease Year” tenancy shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, continue on as a confirmation only of monthly periodic tenancy in accordance with the information set forth thereinAct unless earlier terminated, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused or renewed by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowagreement.
Appears in 1 contract
Samples: Tenancy Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 7.1 of the Summary and shall commence on the date (the “Lease Commencement Date,” as that term is ”) set forth in Section 3.2 7.2 of the SummarySummary subject, however, to the terms of the Tenant Work Letter, and shall terminate on the date (the “Lease Expiration Date,” as that term is ”) set forth in Section 3.3 7.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Landlord shall grant Tenant hereby acknowledges and “Tenant’s Agents,” as that term is defined in Exhibit B, access to the Premises for the purpose of constructing the “Tenant Improvements,” as that term is defined in the Tenant Work Letter, in accordance with the Tenant Work Letter attached hereto on the business day immediately following the date upon which each of the following has occurred: (l) this Lease has been mutually executed by Landlord and Tenant; (2) Tenant has paid/delivered to Landlord all funds/security due to be paid/delivered by Tenant under this Lease including the Letter of Credit and; (3) Tenant has provided Landlord with a certificate evidencing the insurance required to be procured and maintained by Tenant under Article 10 of this Lease (the “Delivery Date”). It is anticipated that the Delivery Date will occur on the business day immediately following the satisfaction of all the requirements in items 1 through 3 above (the “Anticipated Delivery Date”). Tenant may access the Premises are currently occupied by another tenant on the Delivery Date to construct the Tenant Improvements pursuant to Exhibit B and to install Tenant’s furniture, fixtures and equipment, computer and telephone cabling. During said period of early access Tenant shall be subject to Landlord’s reasonable administrative control and supervision and Tenant shall comply with all of the Buildingprovisions and covenants contained herein. If for any reason Landlord is unable for any reason to deliver possession of grant Tenant access to the Premises to Tenant on any specific date the Anticipated Delivery Date, then Landlord this Lease shall not be subject void or voidable, nor shall Landlord be liable to Tenant for any liability for its failure damage resulting from Landlord’s inability to do sodeliver such possession; provided, and such failure shall not affect the validity however, that given that it is a material part of Tenant’s agreement to enter into this Lease or that Tenant can complete the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice Improvements in the form time and manner as set forth in Exhibit C, attached B hereto, in the event that the Landlord is unable to grant Tenant access to the Premises on the Anticipated Delivery Date, the Lease Commencement Date and the Lease Expiration Date, shall be delayed one day for each day of delay until the Delivery Date occurs. Except as a confirmation only of the information set forth thereinotherwise provided herein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, TenantLandlord’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender give possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.on
Appears in 1 contract
Samples: Office Lease (GoodRx Holdings, Inc.)
Lease Term. 3.1 For Lease Area A, the Parties agree that the Lease Period shall be 5 (five) years, commencing on January 25, 2010 until January 24, 2015; for Lease Area B, the Parties agree that the Lease Period shall be from March 25, 2010 until January 24, 2015.
3.2 The terms Parties agree that the Lease Periods for Lease Area A and provisions Lease Area B shall be automatically renewed unless DSH gives prior written notice of termination not less than thirty (30) days before the expiration of each Lease Period for either Lease Area A or Lease Area B, but the Lease Period for both Lease Area A and Lease Area B must be renegotiated and adjust accordingly. During the Lease Period or any renewal period, Ding Hong shall not terminate 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 hereunderAgreement without DSH’s written approval. For purposes of this Leasethe renewed lease period, the term “Lease Year” shall mean each consecutive twelve (12) month period during lease price per square meter for the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form Third Floor as set forth in Exhibit C, attached hereto, as a confirmation only Article 4 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 Lease Agreement shall be conclusive upon Tenant adjusted on the basis of the market price at the time of renewal and after consultation between the Parties.
3.3 If during the Lease Period or the renewed lease period, Ding Hong receives from a third party a bona fide, legally binding offer to lease the portion of the Third Floor not already leased by DSH, Ding Hong shall notify DSH of this fact. The notice shall specify all the terms of the bona fide third party offer. DSH shall then have thirty (30) days to lease that portion of the information Third Floor specified in the third party’s bona fide offer for the rent and related details set forth in such notice is as specified thereinthis Lease Agreement. In addition to Ding Hong shall not lease any portion of the foregoing, subject Third Floor to any delays caused by Tenant or any Tenant third party until the thirty (30) days has expired without DSH exercising its right of first refusal. Any other terms not specified in this Lease Agreement regarding the Third Floor, both Parties shall negotiate and events of Force Majeure, if Landlord fails to tender possession sign a supplemental agreement for these unspecified terms. Such signed supplemental agreement shall constitute a part of the Premises to Tenant on or before January 2, 2015 (entire Lease Agreement and shall have the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on same effectiveness as the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowentire Lease Agreement.
Appears in 1 contract
Samples: Lease Agreement (Diodes Inc /Del/)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The lease term of this Lease (the “Lease Term”) shall commence on after (a) the mutual execution and delivery of this Lease, and (b) the delivery by Tenant to Landlord (as beneficiary) of a standby letter of credit (“Letter of Credit”), a draft of which is attached hereto as Exhibit “I”, in form and content satisfactory to Landlord in the amount of $3,823,990.00 (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 twelve (12) years after the Rent Commencement Date (as hereinafter defined) unless extended or terminated as provided in this Lease (the “Lease Expiration Date,”). After the Rent Commencement Date, Tenant shall, within ten (10) Business Days (as hereinafter defined) of receipt thereof, execute a Commencement Date Certificate substantially similar to the form attached hereto as Exhibit “E” as that term is set forth confirming the Lease Commencement Date, the Rent Commencement Date and the Expiration Date. Landlord shall not be in Section 3.3 breach of the Summary, unless this Lease is sooner terminated as hereinafter provided. nor be liable to Tenant hereby acknowledges that the Premises are currently occupied by another tenant for delay in delivery of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant resulting from delay in completing construction of or alterations to the Premises which Landlord has agreed to perform under this Lease or by reason of matters beyond Landlord’s reasonable control, except as otherwise set forth in this Lease. If Landlord cannot deliver possession of the Premises on the Lease Commencement Date, Landlord may delay the Lease Commencement Date until the date on which Landlord can deliver possession of the Premises and shall provide Tenant with written notice of any specific delayed Lease Commencement Date. The date , then Landlord set forth in such notice as the delayed Lease Commencement Date shall not be subject to any liability for its failure to do sodeemed the Lease Commencement Date, and such failure shall not affect the validity Rent Commencement Date and Expiration Date of this Lease or shall be correspondingly extended by the obligations period of delay. At the request of Landlord, Tenant hereunder. For purposes of this Lease, shall countersign Landlord’s notice to confirm the term “delayed Lease Year” shall mean each consecutive twelve (12) month period during Commencement Date as 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 thereofCommencement Date; provided, however, that Tenant’s failure to execute and return countersign such notice shall not impair Landlord’s designation of the new Lease Commencement Date. Tenant shall not have any right to Landlord within such time shall be conclusive upon Tenant that enter the information set forth in such notice is as specified therein. In addition Premises 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 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 1 contract
Samples: Lease Agreement (Immunogen 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
Samples: 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
Samples: Lease Agreement
Lease Term. The terms and provisions Lease Term is scheduled to expire on August 27, 2015. The Lease Term is hereby extended for a period of this Lease shall be effective nine (9) months, to expire on May 31, 2016 (“New Expiration Date”), subject to earlier termination as described in the Lease. Notwithstanding anything to the contrary contained in Section 34 of the date of this Lease. The term of this Original Lease (the “Lease Term”titled HOLDING OVER) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 or any other provision of the SummaryExisting Lease, and Tenant shall terminate on not have the “Lease Expiration Date,” as that term is set forth in Section 3.3 right to hold over after the expiration or earlier termination of the SummaryLease for any reason, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that without the Premises are currently occupied future express written consent given by another tenant of the BuildingLandlord, which consent may be withheld by Landlord in its sole and absolute discretion. If Landlord is unable for Tenant or anyone claiming through Tenant remains in possession of any reason to deliver possession portion of the Premises beyond the expiration or sooner termination of the Lease as to Tenant on any specific date such space, then or fails to surrender such space upon such expiration or earlier termination to Landlord shall not be subject to any liability for its failure to do soin the condition required by the Lease, and such hold over or failure shall not affect constitute a renewal or extension of the validity of this Lease or a month-to-month tenancy, but instead a tenancy at sufferance. If Tenant fails to vacate and surrender the obligations Premises to Landlord in the condition required by the Lease at the expiration or sooner termination of Tenant hereunder. For purposes of this the Lease, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all claims, demands, losses, liabilities, judgments, costs and expenses (including attorney’s fees) which Landlord may incur as a result of such hold over and failure to surrender, including without limitation all lost rents, lost profits and lost or delayed business opportunities (including without limitation those relating to any delay or prevention in Landlord’s ability to redevelop all or any portion of the project of which the Premises is a part), and Landlord shall be entitled to all other rights and remedies available to a landlord against a tenant wrongfully holding over after the termination of the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Termof a lease without Landlord’s consent. At any time during Tenant acknowledges and agrees that it has no further right to extend or renew the Lease Term, Landlord may deliver to Tenant a notice and that the Option described in the form as set forth in Exhibit C, attached hereto, as a confirmation only Section 37 of the information set forth therein, which Tenant shall execute Original Lease (titled OPTION TO EXTEND THE LEASE TERM) is hereby deleted and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinof no further force or effect. In addition All of Landlord’s rights and remedies under this Section 3 are cumulative and not alternative to the foregoingextent permitted by law, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and are in addition to any Rent Abatement described all other rights and remedies available in Section 3.2 belowlaw and in equity.
Appears in 1 contract
Samples: Lease Agreement (Xenoport Inc)
Lease Term. The terms (a) Tenant shall have and hold the Premises for the term ("Term") identified in the Basic Lease Provisions commencing on the date (the "Commencement Date") which is thirty (30) days after the date on which Landlord notifies Tenant that the Work in the Premises is substantially complete (or is deemed substantially complete pursuant to Paragraph 4(b) of Exhibit "B") and the Building Systems are in good working order as required by Section 19 of this Lease (the "Ready Date"), and shall terminate at midnight on the last day of the Term (the "Expiration Date"), unless sooner terminated or extended as hereinafter provided. Promptly following the Commencement Date, Landlord and Tenant shall enter into a letter agreement in the form attached hereto as Exhibit "C", specifying and/or confirming the Commencement Date and the Expiration Date (and the number of rentable square feet contained within the Premises and the amount of Base Rent payable hereunder, if such numbers as finally determined differ from those set forth in the Basic Lease Provisions).
(b) Landlord shall permit Tenant and Tenant's agents and contractors to enter the Premises on and after the Ready Date, in order to permit Tenant to prepare the Premises for Tenant's occupancy (such entry prior to the Commencement Date referred to herein as the "Early Entry Period". If Landlord permits such entry prior to completion of the Work, then such permission is conditioned upon Tenant and Tenant's agents, contractors, workmen, mechanics, suppliers, and invitees working in harmony and not interfering with Landlord and Landlord's contractors in doing the Work. If at any time such entry shall cause or threaten to cause such interference, Landlord shall have the right to withdraw such permission upon twenty-four (24) hours' oral or written notice to Tenant. Tenant agrees that any such entry into the Premises shall be deemed to be under all of the terms, covenants, conditions, and provisions of this Lease (including, without limitation, all insurance requirements), except as to the covenant to pay Rent hereunder, and further agrees that Landlord shall not be liable in any way for any injury, loss, or damage which may occur to any items of work constructed by Tenant or to other property of Tenant that may be placed in the Premises prior to completion of the Work, the same being at Tenant's sole risk, except and only to the extent caused by Landlord's own negligence or willful misconduct.
(i) Landlord grants to Tenant one option to extend the Term (the "Extension Option") for a period of five (5) years (the "Extension Period"). Tenant's privilege to exercise the Extension Option is expressly conditioned upon Tenant not being in default (following the expiration of all applicable notice and cure provisions) at the time the Extension Option is exercised and not being in default (following the expiration of all applicable notice and cure provisions) between the time the Extension Option is exercised and the start of the Extension Period.
(ii) Tenant shall have the right to exercise the Extension Option by giving written notice (the "Extension Notice") to Landlord no later than nine (9) months and no earlier than twelve (12) months prior to the Expiration Date of the Term. All terms and conditions of this Lease shall continue during the Extension Period, provided that during each Extension Period, the Base Rent shall be effective ninety-five percent (95%) of the Fair Market Rent as of the date of (the "Rent Determination Date") that is nine (9) months preceding the Expiration Date (such Base Rent for the Extension Period being deemed "Renewal Rent").
(iii) As used in this Lease, Fair Market Rent shall mean the effective rental rates then being obtained by tenants in the marketplace for comparable buildings and premises. The effective rental rates shall include consideration of the presence or absence of tenant improvements or allowances existing or to be provided under the lease for such premises, rental abatements, lease takeovers/assumptions, moving expenses and other forms of rental concessions, real estate brokerage commissions, proposed term of this Lease lease, extent of service provided or to be provided under the lease for such premises, the time the particular rate under consideration became or is to become effective and any other relevant terms or conditions.
(iv) In the “Lease Term”event of an exercise of an option by Tenant, Landlord shall notify Tenant of Landlord's determination of the Renewal Rent within thirty (30) shall commence days of the Rent Determination Date and if Landlord and Tenant cannot agree on the “Lease Commencement Date,” Renewal Rent within thirty (30) days thereafter, the Renewal Rent payable during the Extension Period shall be conclusively determined as that term is follows:
(A) Within ten (10) days after the expiration of the thirty (30) day period, each party, at its cost and by giving notice to the other party, shall appoint an unaffiliated MAI designated real estate appraiser with at least five (5) years' full-time commercial appraisal experience in the general vicinity of the Premises (an "Appraiser"), to appraise and determine the then Fair Market Rent as described in this Section.
(B) If one party does not appoint an Appraiser within the time period in Section 2(c)(iv)(A) above, the Appraiser appointed by the other party shall be the sole Appraiser and shall determine the Fair Market Rent.
(C) If neither party appoints an Appraiser within the time period set forth in Section 3.2 of 2(c)(iv)(A), the Summary, and Base Rent during the Extension Period shall terminate on be the “Lease Base Rent payable in the last full month immediately preceding the Expiration Date,” as that term is set forth .
(D) If the two (2) Appraisers are so appointed by the parties, they shall meet promptly and attempt to appraise and determine the Fair Market Rent. If they are unable to agree within thirty (30) days after the second Appraiser has been appointed, they shall attempt to select a third Appraiser who meets the qualifications stated in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (122(c)(iv)(A) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days after the last day the two Appraisers are given to determine the Fair Market Rent. If they are unable to agree on a third Appraiser, either of receipt thereof; providedthe parties to this Lease, by giving ten (10) days' notice to the other party, can apply to the President of the Alameda County Real Estate Board or the presiding judge of the Superior Court for Alameda County for the selection of a third Appraiser who meets the qualifications stated in Section 2(c)(iv)(A). Each of the parties shall bear one-half (1/2) of the cost of appointing the third Appraiser and of the third Appraiser's fees. The third Appraiser, however selected, shall be a person who has not previously acted in any capacity for either party or is not or has not been affiliated with the other appointed Appraisers.
(E) Within thirty (30) days after the selection of the third Appraiser, a majority of the Appraisers shall appraise and determine the Fair Market Rent. If a majority of the Appraisers are unable to so set the Fair Market Rent within the required period of time, the appraisals of the three Appraisers shall be added together and their total divided by three. The resulting quotient shall be the Fair Market Rent.
(F) If, however, Tenant’s failure to execute and return such notice to Landlord within such time the low appraisal or the high appraisal are more than ten percent (10%) lower or higher than the middle appraisal, the low appraisal or the high appraisal shall be conclusive upon Tenant disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total divided by two. The resulting quotient shall be the Fair Market Rent. If two appraisals are disregarded, the remaining appraisal shall be the Fair Market Rent.
(d) Except in connection with an assignment which is to an Altigen Affiliate (as that term is hereinafter defined), the information set forth in such notice Extension Option is as specified thereinnot assignable by Tenant, and any attempted assignment shall be void. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force MajeureAdditionally, if Landlord fails to tender possession subleases (excluding Permitted Transfers) covering more than twenty-five percent (25%) of the Premises to Tenant on or before January 2exist at the time of exercise of the Extension Option, 2015 (the “Base Rent Delivery Date”), Tenant such exercise shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date no force and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 beloweffect.
Appears in 1 contract
Samples: Industrial Lease Agreement (Altigen Communications Inc)
Lease Term. The 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
Samples: Office Lease (Penumbra 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 set forth in Section 3.2 : September 1, 1996 or Substantial Completion of the SummaryPremises, whichever occurs later. Landlord and Tenant shall terminate mutually agree upon a schedule (the "Lease and Construction Schedule") which details the dates on which all necessary lease and construction documents will be completed so as to permit Landlord to substantially complete the “Premises for Tenant's occupancy by the Lease Expiration Commencement Date,” . The Lease and Construction Schedule is attached to the lease as that term is set forth in Section 3.3 Exhibit F. Landlord shall make a good faith effort to make approximately 6,000 to 8,000 rentable square feet of the SummaryPremises (the "Early Occupancy Space") available for Tenant's occupancy by August 15, unless this Lease is sooner terminated as hereinafter provided1996. Tenant hereby acknowledges that the Premises are currently The Early Occupancy Space may be occupied by another tenant Tenant with a temporary occupancy permit (to the extent such occupancy is allowed by the local jurisdiction) and such occupancy will not be considered a tender of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord for purposes of establishing the Lease Commencement Date. Any such early occupancy shall not be subject to any liability for its failure to do soall of the terms, covenants and such failure shall not affect the validity conditions of this Lease or except for the obligations payment of Tenant hereunderRent and additional rent. For purposes of this Lease, In no event shall the term “Lease Year” shall mean each consecutive twelve lease commence until the Leasehold Improvements (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth defined in Exhibit C), attached heretowith the exception of minor punch list items and Tenant approved long lead items, are substantially completed in accordance with Tenant's Plan (as defined in Exhibit C), and Landlord has obtained a confirmation only certificate occupancy or certificate of temporary occupancy. Landlord shall give Tenant thirty (30) days prior written notice of the information approximate date of substantial completion. Lease Expiration Date: Eighty - Four (84) months after Lease Commencement Date. In the event the Lease Commencement Date is a date other than the first day of a calendar month, the Lease Term shall run for the number of months set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that above from the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession first day of the Premises to Tenant on or before January 2, 2015 (calendar month following the “Base Rent Delivery Lease Commencement Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Lease (Ace Comm Corp)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January February 1, 2017, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) June 1, 2015 (the “Base Rent Delivery Date”)2017, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Samples: Lease (CytomX Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the date that Landlord achieves Substantial Completion of the Base Building Work and Substantial Completion of the Leasehold Improvement Work (as such terms are defined in the Construction Addendum) (the “Lease Term Commencement Date,” as that term is set forth in Section 3.2 of the Summary”), and shall terminate continue for a period of one hundred eighty (180) calendar months following the Base Rent Commencement Date (as hereinafter defined), plus any partial days in the month in which the Base Rent Commencement Date falls (if not on the “Lease Expiration Date,” as that term is set forth in Section 3.3 first of the Summarymonth), unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges so that the Premises are currently occupied by another tenant expiration date of the BuildingTerm will be the last day of a month. If Landlord is unable for any reason Notwithstanding the foregoing, Tenant shall have no right to deliver possession of the Premises until Tenant has provided Landlord with a certificate of insurance evidencing the insurance coverages that Tenant is obligated to maintain pursuant to this Lease. Landlord and Tenant shall execute a Memorandum of Lease Commencement substantially in form and substance as Exhibit “C,” attached hereto and made a part hereof establishing the Term Commencement Date and the Base Rent Commencement Date as soon as such dates have been determined in accordance with this Lease. The period of time from the first (1st) day of the first (1st) full month after the month in which the Term Commencement Date occurs (or the Term Commencement Date itself, if it occurs on any specific date , then Landlord shall not be subject the first day of the month) to any liability for its failure to do sothe last day of the twelfth (12th) calendar month thereafter, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive successive twelve (12) month period during the Lease Term. At any time during the Lease Termthereafter, Landlord may deliver is referred to Tenant a notice in the form as set forth in Exhibit C, attached hereto, herein as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery DateLease Year.”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Lease Agreement (Office Depot Inc)
Lease Term. (a) The terms and provisions Initial Term of this Lease shall commence on the Lease Commencement Date and shall continue in full force and effect for the period of time specified as the Initial Term in Part A above, or until this Lease is terminated as otherwise provided in this Lease. The Lease Commencement Date and the Initial Term shall be effective confirmed by Landlord and Tenant by the execution of an Estoppel Certificate, the form of which is attached hereto as Exhibit "B" ("Estoppel Certificate"). Failure to execute said Estoppel Certificate shall not affect the commencement nor expiration of the Lease Term. In the event the Lease Commencement Date is a date other than the first day of a calendar month, the Initial Term shall run for the number of months set forth in Part A above from the first day of the calendar month following the Lease Commencement Date. As used in this Lease, "Lease Term" shall mean the Initial Term and any Extension Terms.
(b) Tenant's obligation to pay Rent shall commence on the Rent Commencement Date.
(c) Provided there does not then exist an "Event of Default" (as defined below), Tenant shall have the number of options set forth in Part A above to renew this Lease for the Extension Term(s). Base Rent for each Extension Term shall be as set forth in Part A above. Tenant may exercise its option to extend this Lease by giving Landlord written notice of its election to do so not later than the Option Exercise Date.
(d) Subject to Tenant's right to extend this Lease pursuant to Section 1.02(c) above, either party may terminate this Lease by providing written notice to the other party at least sixty (60) days prior to the expiration of the Lease Tenn. In the event that neither party provides the other such notice, this Lease shall continue on the same terms and conditions for an additional term of one (1) month, and so on from month to month, unless and until terminated by either party as provided above. In such event, each such additional one (1) month term shall be considered as part of the "Lease Term" for purposes of this Lease. The Base Rent for each such additional one (1) month term of this Lease shall be equal to the Base Rent for the month immediately preceding such additional one (the “Lease Term”1) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summarymonth term; provided, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summaryhowever, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied monthly Base Rent payable by another tenant of the Building. Tenant shall increase by three percent (3%) on August 1, 2016 and on each anniversary thereafter.
(e) If Landlord is shall be unable for any reason to deliver possession of the Premises to Tenant on the Lease Commencement Date for any specific date reason, then in any such case Landlord shall not be subject to any liability to Tenant. Under such circumstances, the Rent reserved and covenanted to be paid herein shall not commence until possession of the Premises is given or the Premises are available for its use by Tenant, and no such failure to do so, and such failure give possession shall not in any other respect affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only obligation of the information set forth therein, which Tenant shall execute and return to Landlord within ten hereunder (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is except as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties date of commencement and events accrual of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”Rent), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. (a) The terms and provisions of this Lease shall be effective as Term begins on the earliest to occur of: (1) the date Tenant occupies any part of the date of this Lease. The term of this Lease Leased Premises; (2) the “Lease Term”Commencement Date; or (3) shall commence the Ready for Occupancy Date (defined below); and ends on the “Expiration Date. Notwithstanding the foregoing, if the Ready for Occupancy Date occurs before May 22, 1998, then the Lease Commencement Date,” as that term is set forth in Section 3.2 Term shall begin on the earlier of (i) the date Tenant occupies any part of the SummaryLease Premises or May 25, 1998, and if the Ready for Occupancy Date occurs on or after May 25, 1998 and before July 3, 1998, then the Lease Term shall terminate begin on the “Lease Expiration Date,” as that term is set forth in Section 3.3 earlier of (i) the date Tenant occupies any part of the SummaryLease Premises, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that or (ii) July 3, 1998.
(b) Subject to Paragraph 3(c) below, if the Premises are currently occupied Ready for Occupancy Date does not occur by another tenant of the Building. If Landlord is unable Commencement Date for any reason to deliver possession of the Premises to other than omission, delay, or default by any Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, howeverParty, Tenant’s failure 's obligation to execute pay Rent does not commence until the Ready For Occupancy Date occurs and return such notice to Landlord within such the Expiration Date is extended for a period of time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition equal to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing time period beginning on the day after the Base Rent Delivery Commencement Date and ending on the day before the Ready for Occupancy Date. This abatement of Rent is Tenant's sole and exclusive remedy and is full settlement of all claims that Tenant has against Landlord by reason of the Leased Premises not being ready for occupancy by Tenant on the Commencement Date.
(c) If Tenant occupies any part of the Leased Premises before the Commencement Date or the Ready for Occupancy Date, as applicable, the Lease Term and Tenant's obligation to pay Rent commence on the date Landlord so tenders Tenant occupies the Leased Premises and the Expiration Date is 126 months after the date on which Tenant's occupancy commences. Tenant is deemed to OCCUPY the Leased Premises when Tenant takes possession of any part of the Leased Premises for any purpose, including placing furniture and installing Tenant's equipment in the Leased Premises.
(d) When the first day of the Lease Term is established pursuant to Tenant. Any such Base Rent Abatement this Paraxxxxx 0, Xxxxxxxx xxxll prepare and Landlord and Tenant shall be separate from and exchange a letter acknowledging that date and, if the Expiration Date changes under this Paragraph, the Expiration Date.
(e) The READY FOR OCCUPANCY DATE is the earlier to occur of:
(1) the date that Landlord notifies Tenant that the City of Dallas has approved the Leased Premises for occupancy; or
(2) the date the City of Dallas would have approved the Leased Premises for occupancy but for delays caused by any Tenant Party; provided, if Landlord performs any Additional Work (defined in addition to any Rent Abatement described EXHIBIT F), the Ready for Occupancy Date is deemed accelerated by the number of days in Section 3.2 belowthe Additional Work Period (defined in EXHIBIT F).
Appears in 1 contract
Samples: Office Lease (Penson Worldwide Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided. Provided the information is accurate, however, Tenant’s Txxxxx'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 Notwithstanding anything contained herein to the foregoingcontrary, if the Lease Commencement Date has not occurred by (i) September 15, 2024, then Tenant shall receive an additional day for day abatement of Base Rent for each day thereafter until the Lease Commencement Date occurs or (ii) November 15, 2024, then Tenant may terminate this Lease upon notice to Landlord, and upon such termination, Landlord shall return any Security Deposit and prepaid Rent to Tenant. The parties acknowledge and agree that the foregoing dates are 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. 2.1 Subject to and upon the terms, provisions and conditions herein set forth, Landlord does hereby lease to Tenant and Tenant does hereby lease from Landlord the Leased Premises. The terms and provisions term of this the Lease shall be effective commence on the Commencement Date, as of determined pursuant to Section 2.2 hereof (the date of this Lease"Commencement Date"). 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 be 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 to execute and return such notice to Landlord within such time if the Commencement Date is not the first day of a month, then the term of the Lease shall be conclusive upon ten (10) years plus the partial month in which the Commencement Date occurs unless earlier terminated in accordance with the terms of this Lease (the "Lease Term"). In addition, the Lease Term shall include any and all renewals and extensions of the Lease Term.
2.2 The Commencement Date shall be the earlier of (a) the date Tenant commences occupancy of the Office Space for the operation of its business operations, or (b) the later of (i) sixty (60) days after Shell Completion Date, or (ii) one hundred twenty (120) days after the date on which Landlord acquires fee simple title to the Land and the Building pursuant to the Real Estate Contract; provided, however that in the event Tenant is unable to obtain a certificate of occupancy for the Leased Premises solely because the Property (OTHER THAN THE LEASED PREMISES) fails to comply with the Metropolitan Codes of Law of Nashville and Davidson County, Tennessee (the "Violation"), the Commencement Date shall be extended to the earlier of (A) the date that the information set forth in such notice Violation is as specified thereinremedied, or (B) the date that a waiver or variance of the Violation is obtained from the appropriate governmental authority. 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 in the Premises to Tenant event the Commencement Date does not occur on or before January 21, 2015 1998 (the “Base Rent Delivery "Target Date”"), Tenant shall be entitled have the right to one terminate this Lease by providing written notice to Landlord of such termination within the ten (110) day of per diem Base Rent abatement for each day commencing on period following the day after Target Date (the Base Rent Delivery Date and ending on "Termination Period"), provided that if Tenant fails to provide such notice during the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement Termination Period, Tenant shall be separate from and deemed to have waived its right to terminate this Lease as set forth in addition to any Rent Abatement described in this Section 3.2 below2.2.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; 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 1 contract
Samples: Lease (BioAtla, Inc.)
Lease Term. The Subject to the remaining terms of this Section 2.1, the terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term; provided, however, that the first Lease Year shall commence on the Lease Commencement Date and end on the last day of the month in which the first anniversary of the Lease Commencement Date occurs (or if the Lease Commencement Date is the first day of a calendar month, then the first Lease Year shall commence on the Lease Commencement Date and end on the day immediately preceding the first anniversary of the Lease Commencement Date), and the second and each succeeding Lease Year shall commence on the first day of the next calendar month; and further provided that the last Lease Year shall end on the Lease Expiration Date. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; providedprovided that if said notice is not factually correct, however, Tenant’s failure then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified thereinten (10) business day period. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties Such modified Notice of Lease Term Dates and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)shall not be binding unless Landlord countersigns the notice with Tenant’s changes. If Landlord 35654\12546889.9 06907\011\8493037.v6 does not so countersign the notice, Landlord and Tenant shall be entitled work together in good faith to one (1) day agree upon and mutually execute an acceptable Notice of per diem Lease Term Dates and Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowRent.
Appears in 1 contract
Samples: Lease (Penumbra Inc)
Lease Term. a. Tenant shall have and hold the Leased Premises for a term of
b. Provided that no Event of Default (as hereinafter defined) has occurred and is continuing, Tenant shall have the option to extend the Initial Term of this Lease for ( ) periods of years each (each such , a "Renewal Term"; collectively, the "Renewal Terms"; the Initial Term and any and all exercised Renewal Terms are hereinafter collectively referred to as the "Term"). The term "Expiration Date" as used in this Lease shall mean the last day of the Initial Term or, in the event that the Term is extended as provided herein, the last day of the last exercised Renewal Term. Tenant shall exercise said renewal options by giving notice thereof to Landlord not less than three (3) months prior to expiration of the Initial Term or the then-current Renewal Term, as applicable, and, if said notice be given, the Term hereof shall be extended for the Renewal Term for the Rent hereinafter provided and on all of the other provisions, agreements, covenants and conditions as are herein contained (unless changed or modified by mutual written agreement of the parties hereto) shall remain applicable for each Renewal Term, except (i) such of the provisions hereof as have been rendered inapplicable by the passage of time and (ii) the Annual Rent for the initial year of the Renewal Term shall be equal to the fair rental value as determined in Section 3.a.iii. herein.
c. Tenant acknowledges that Landlord's interest in the Leased Premises is a leasehold interest pursuant to that certain ground lease dated October 20, 1999 by and between the City of Millville ("City") as landlord thereunder and Landlord, as tenant thereunder, a memorandum of which was recorded in the office of the Clerk of the County of Cumberland (the "Ground Lease"), and that Tenant's interest in the Leased Premises is a sub-leasehold interest. Tenant acknowledges that the term of the Ground Lease expires on October 20, 2029, subject to certain options to renew contained in the Ground Lease. Pursuant to the terms of such options to renew, the City or the Landlord may, in their sole discretion, elect not to exercise such option. Tenant acknowledges that (i) neither the Landlord nor the City has the obligation to exercise the option to renew, and provisions of (ii) Landlord has made no statement or representations to Tenant, written or oral, with regard to its intent to renew the Ground Lease, and (iii) if either the Landlord or City elects not to exercise the option to renew the Ground Lease, the Tenant's right to renew this Lease shall be effective as void and of no effect. Tenant further acknowledges and agrees that any right granted to Tenant to renew this Lease beyond October 20, 2029 is expressly subject to, and conditioned upon, Landlord's renewal of the date of this Ground Lease. The term Notwithstanding anything contained in this Section 2 to the contrary, Tenant shall not be permitted to extend the Term of this Lease (beyond the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 expiration of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Ground Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Samples: Lease Agreement
Lease Term. (a) The terms and provisions initial term of this Lease shall be effective as of the date of this Lease. The term of this Lease for ten (the “Lease 10) years ("Term”") ---- and shall commence on the “Lease date hereof ("Commencement Date,” as that term is set forth in Section 3.2 of the Summary, ") and shall terminate ----------------- at 5:00 P.M. local time on the “Lease tenth (10th) anniversary of the Commencement Date (the "Expiration Date,” as "). ---------------
(b) Provided that term Tenant is set forth not in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes default of this Lease, Tenant shall have the option to renew this Lease for three (3) renewal terms of five (5) years each commencing upon the expiration of the initial ten (10) year Term or any previous renewal term, as the case may be, and ending at 5:00 P.M. local time five (5) years thereafter, unless any such renewal term “shall sooner terminate in accordance with this Lease Year” or otherwise; provided that (i) Tenant shall mean each consecutive twelve have notified Landlord in writing of Tenant's exercise of such renewal option not later than six (126) month months prior to the expiration of the initial Term hereof or the then existing renewal term, as the case may be, (ii) at the time such notice is given, this Lease shall be in full force and effect and Tenant shall not be in default hereunder for such period of time as would entitle Landlord to terminate this Lease pursuant to the terms hereof. Such renewal terms shall be upon all of the agreements, terms, covenants and conditions hereof except that Tenant shall pay Base Rent (hereinafter defined) to Landlord in monthly installments in an amount equal to the greater of (i) the fair market rate (the "Fair Market Rent") for ---------------- the Real Property (as defined herein) or (ii) one hundred and ten percent (110%) of the existing Base Rent on an "AS IS, WHERE IS" basis as of the commencement of the renewal term, as designated by Landlord within twenty (20) days after Landlord receives Tenant's renewal notice, but in no event greater than the rate of Base Rent in effect at the scheduled expiration of the Term or the applicable renewal term plus twenty-five percent (25%) thereof. In addition, during the Lease Termrenewal term, Tenant shall pay all other rent and other amounts due under the Lease. At any time during If Tenant does not approve of Landlord's designation of the Lease TermBase Rent for the renewal term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached heretothen Tenant, as a confirmation only of the information set forth thereinits sole remedy, which Tenant shall execute and return may submit in writing to Landlord within ten (10) business days after the Landlord's delivery of receipt thereof; providedits determination Fair Market Rent to Tenant (the "Renewal Commencement Date"), howeverits good faith ------------------------- determination of Fair Market Rent with appropriate back-up documentation. If the Tenant's determination of Fair Market Rent is within ten percent (10%) of the Landlord's determination of the same, the "Fair Market Rent" shall equal the ---------------- median number between each of the Tenant’s failure 's and Landlord's determination (but in no event shall the Fair Market Rent be less than the Base Rent existing on the last day of the Term plus ten percent (10%)). If the Tenant's determination of Fair Market Rent is not within ten percent (10%) of the Landlord's determination --- of the same, each of the Landlord and the Tenant shall choose an appraiser on the eleventh (11th) day after the Renewal Commencement Date to execute determine the "fair market rent" and return such notice to Landlord within such time the initial determinations shall be conclusive upon Tenant that disregarded for all purposes in determining the information set forth in such notice is as specified thereinFair Market Rent. In addition Each appraiser shall diligently attempt to agree on the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant Fair Market Rent on or before January 2, 2015 the twenty-fourth (the “Base Rent Delivery Date”), Tenant shall be entitled to one (124th) day of per diem Base Rent abatement for each day commencing on the day after the Renewal Commencement Date. If such appraisers agree on the Fair Market Rent on or before the twenty-fourth day after the Renewal Commencement Date, such agreed sum shall constitute the "Fair Market Rent". If the appraisers have not agreed on the Fair Market Rent by such day, (a) the appraisers shall select an independent third appraiser (the "Final Appraiser"), and (b) each such --------------- original appraiser shall deliver in writing to the Final Appraiser their last determination of the sum (each such sum being hereinafter referred to as the "Appraisal Price") that such appraiser believes is the Fair Market Rent. On or --------------- before the twenty-ninth (29th) day after the Renewal Commencement Date, the Final Appraiser shall choose one Appraisal Price or the other Appraisal Price as the "Fair Market Rent". Notwithstanding anything to the contrary herein, in no ---------------- event shall the Fair Market Rent be less than the Base Rent Delivery Date and ending on in effect at the date Landlord so tenders possession last day of the Premises to TenantTerm plus ten percent (10%) thereof. Any Tenant shall have no further renewal rights after the expiration of such Base Rent Abatement renewal terms. Upon the commencement of each renewal term, (x) the renewal term shall be separate from added to and become part of the Term, (y) any reference in addition this Lease, to the "Term", the "term of this Lease" or any Rent Abatement described in Section 3.2 belowsimilar expression shall ---- be deemed to include the renewal terms, and (z) the Expiration Date shall become the expiration of the applicable renewal term .
Appears in 1 contract
Samples: Industrial Real Estate Lease (Doskocil Manufacturing Co Inc)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this 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
Samples: 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
Samples: Lease Agreement (Surrozen, Inc./De)
Lease Term. The terms and provisions Term of this Lease shall be effective for the period designated in Subparagraph 1(g) commencing on the Rent Commencement Date, and ending on the Expiration Date, unless the term hereby demised shall be sooner terminated as herein provided (the "Term"). Notwithstanding the foregoing, if the Rent Commencement Date falls on any day other than the first day of a calendar month then the Basic Rent and NNN Charges shall be prorated based on the number of days for the applicable month using the Basic Rent and NNN Charges for the first month of the date of this Lease. The term Term as set forth herein, and the Term of this Lease (shall be measured from the “Lease Term”) first day of the month following the month in which the Rent Commencement Date occurs. Landlord and Tenant shall commence on promptly execute Exhibit D to confirm the “Lease Commencement Date,” as , the Delivery Date, the Rent Commencement Date and the Expiration Date and other matters. Notwithstanding the fact that term is the Rent Commencement Date has yet to occur, Landlord agrees to permit Tenant to enter the Premises during the construction of the same (a) for the Wynright Access pursuant to Paragraph 6 of the Work Letter and (b) upon the Delivery Date in order for Tenant to commence the installation of its equipment, trade fixtures and personal property and commence the operation of its business. Such entry shall be subject to all of the conditions set forth in Section 3.2 of this paragraph below. Such early entry is conditioned upon Tenant and its contractors, employees, agents and invitees (collectively, "Tenant Construction Parties") working in harmony and not materially interfering with Landlord and its contractors. In the Summaryevent Landlord provides Tenant with notice (written or verbal) that Tenant Construction Parties are materially interfering with Landlord and its contractors, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 Tenant fails to cease such material interference within two (2) days following receipt of the Summary, unless this Lease is sooner terminated as hereinafter provided. such notice from Landlord (such two (2) days of interference being deemed a Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable Delay for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For all purposes of this Lease), the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, then Landlord may deliver terminate such early entry. Tenant agrees that any such early entry is subject to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only all of the information set forth thereinterms and conditions of this Lease, except for those relating to the payment of Basic Rent, NNN Charges and any additional rent and other recurring monetary obligations which have a specific commencement time, which Tenant shall execute and return to Landlord within ten (10) business days provisions will become applicable in accordance with the terms of receipt thereofthis Lease; provided, however, Tenant’s failure to execute Tenant shall pay for utilities and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition janitorial/trash services provided to the foregoing, subject to any delays caused by Tenant or any Tenant Parties Premises from and events of Force Majeure, if Landlord fails to tender possession of after the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.
Appears in 1 contract
Lease Term. 2.1 The terms lease term is 5 years, from May 1, 2010 to April 30, 2015. The calculation of rent starts on May 1, 2010.
2.2 Within 3 months before expiration of the Lease term, the Lessor is entitled to send a written notice to the Lessee and provisions inquire about the Lessee’s intent of renewal. If the Lessee fails to express the intent to renew the Lease in written form within 10 days after the Lessor sends the above mentioned written notice, the Lessee is deemed to have waived renewal. If the Lessee responds with the intent to renew the Lease, the parties shall negotiate on the renewal. The Lessee enjoys priority in renewing the Lease under the same conditions. However, if the parties fail to reach an agreement regarding the Lease renewal 30 days prior to the expiration date of the Lease term, regardless of any reasons whatsoever, the Lessee is regarded to have waived renewal and the Lessor can enter into lease agreement with any third party.
2.3 Upon expiration of the Lease term, in absence of the Lessee’s express intent to renew the Lease in written form within 10 days after the Lessor sends the above mentioned written notice, or that the Lessee has expressly refused lease renewal, if the Lessee fails to surrender the Leased Premise in accordance with the Lease, a compensation in the amount of 3 times of the daily rent under this Lease per every delay day, shall be effective as paid to the Lessor.
2.4 On the Lease expiration date or termination date, the Lessee shall surrender the Leased Premise to the Lessor, along with all the facilities set out in the hand over list (see Exhibit 2) and any accessio or improvement made to the Leased Premise. Moreover, the Lessor shall surrender the Leased Premise in its good and ready to be re-leased condition (Normal wears and tear and inherent defects are excluded).
2.4.1 Before surrendering the Leased Premise, the Lessee shall empty the Leased Premise, remove all the movables (except for those owned by the Lessor and those that the Lessor is responsible for), fix and repair all the damages made to the Leased Premise, all at the lessee’s expense.
2.4.2 The Lessee shall return to the Lessor all the keys and devices used for entering the Leased Premise, and remove, at the Lessee’s expense, any doors, walls or any signs or designation attached to the windows in the Leased Premise. Any personal properties or movables of the Lessee, that remain in the Leased Premise after the expiry of final surrender date designated by the Lessor, will be considered disposed, and will be kept as properties of this Leasethe Lessor or disposed of in any other manners. The term of this Lease (Lessee’s inaction to dispose or remove the “Lease Term”) forgoing properties and movables shall commence on constitute the “Lease Commencement Date,” as that term is set forth in Section 3.2 Lessee’s disposal of the Summary, and shall terminate on forgoing properties or movables.
2.4.3 Upon the “Lease Expiration Date,” as that term is set forth in Section 3.3 surrender of the SummaryLeased Premise, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of parties shall make inspections together to determine whether the Buildingforgoing obligations have been fulfilled. If Landlord the Lessee fails to remove all the movables in accordance with the forgoing clauses, or fails to repair any damages to the Leased properties, the Lessor is unable for any reason entitled to deliver possession of (but not obliged) to perform the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure forgoing obligations or hire a third party to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time expense arises therefrom shall be conclusive upon Tenant that borne by the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowLessee.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease Term shall be effective as of mean the date of this Lease. The term of this Lease (the “Lease Term”) shall commence period beginning on the “Lease above referenced Commencement Date,” as that term is set forth in Section 3.2 of the Summary, Date and shall terminate ending on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive Termination Date (an approximately twelve (12) month period term). Landlord shall exercise a good faith effort with respect to delivering possession of the Residence to Tenant on the Commencement Date. In the event Landlord does not deliver possession of the Residence to Tenant on the Commencement Date, but Xxxxxxxx does deliver possession within (45) days after the Commencement Date, then Rent shall be abated on a daily basis during the Lease Termperiod of delay. At Landlord shall not be liable to Tenant for any time during the Lease Term, losses or damages related to such failure to timely deliver possession. If Landlord may cannot deliver to Tenant a the Residence by the first day of the Lease Term because another resident holds over, or for any other reason, Landlord shall not be liable to Tenant or Tenant’s Guarantor for damages, but Tenant will not be required to pay any Rent until the Residence is available. If Landlord is not able to deliver possession to Tenant within forty five (45) calendar days following the Commencement Date, Tenant may, as its sole remedy, cancel the Lease by written notice to Landlord, in which case Xxxxxx’s security deposit will be refunded and Tenant shall have no further liability hereunder. It is expressly understood that this Lease is for the Lease Term regardless of whether Xxxxxx takes occupancy, is transferred, ceases to be enrolled at any school in the form as set forth in Exhibit Carea, attached hereto, as is no longer a confirmation only resident of the information set forth thereinarea or, which Tenant for any other reason, is unable to continue occupying the Residence. Accordingly, Xxxxxx’s obligation to pay Rent hereunder (and the Guarantor(s) obligation to ensure payment of the same) shall execute continue for the entire Lease Term and return until all sums due to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth hereunder have been paid in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfull.
Appears in 1 contract
Samples: Rental Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the “Lease Commencement Date”), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the “Lease Expiration Date”) unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before October 1, 2019, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each day that the delivery date is delayed beyond such date, or (2) January 21, 2015 (the “Base Rent Delivery Date”)2020, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises reimbursed to Tenant. Any such Base Rent Abatement The foregoing dates shall be separate from and extended to the extent of any delays in addition to any Rent Abatement described delivery of possession caused by (i) Tenant Delay, as provided in Section 3.2 below1(j) of the Tenant Work Letter, or (ii) war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord (provided that any such delay in this item (ii) shall not extend any such date by more than ninety (90) days).
Appears in 1 contract
Samples: Lease (Harpoon Therapeutics, Inc.)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date and expire as of midnight on the last day of the fiftieth (50th) calendar year following the Commencement Date,” , as such Lease Term may be extended pursuant to this Section 5, unless and until earlier terminated pursuant to any provision of this Lease. Provided there is no continuing Tenant Default hereunder, Tenant shall have two (2) options to extend the Lease Term (each a “Renewal Option”) for a period of ten (10) years each (each a “Renewal Term”), provided that with respect to each such Renewal Option, Tenant delivers written notice to Landlord of Tenant’s exercise of such Renewal Option at least one hundred eighty (180) days but not more than five (5) years prior to the expiration of the then current Lease Term (as it may be extended). Notwithstanding anything herein to the contrary, Tenant shall have no right to exercise a Renewal Option unless at the time such Renewal Option is exercised, the Facility (excluding any portion of the Facility that is part of the Mixed-Use Component (as that term is defined in the Development Agreement)) is at least seventy-five percent (75%) occupied. If executed on time and in the manner required under this Lease, the applicable Renewal Term shall be deemed part of the Lease Term and shall be on the same terms and conditions as set forth in Section 3.2 this Lease. Use by Tenant of Facility. Subject to the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes provisions of this Lease, including without limitation, Section 11 hereof with respect to Landlord Events and without limiting the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during provisions of Section 7 hereof with respect to Operating Rights and Authority, throughout the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute have the exclusive right to use, occupy, manage, sublease and return license and operate (and, subject to Landlord within ten the provisions of this Lease, authorize others to use, occupy, manage and operate) the Facility Premises for any lawful purpose, including (10i) business concerts, sporting event watch parties, speaking engagements, conventions and similar events authorized by Tenant, (ii) subject to any scheduling requirements of this Lease, staging hospitality events, including on days of receipt thereofin which there are events at the Stadium, the Amphitheater and/or the Covered Flex Field, (iii) conducting promotional, community and public relations activities, (iv) storing equipment and supplies in designated storage areas, (v) conducting entertainment and cultural events, (vi) hosting meetings, banquets and other catered events and (vii) conducting retail, restaurant, bar and entertainment and service businesses or subleasing or licensing to others to conduct such businesses; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time that Tenant shall be conclusive upon Tenant that not use or permit the information use of the Facility Premises for any use set forth in such notice is as specified thereinon Exhibit B attached hereto and incorporated herein by this reference (the “Prohibited Uses”). In addition Subject to the foregoing, subject Tenant shall have the exclusive right to use, occupy, manage and operate (and authorize others to use, occupy, manage and operate) the Exclusive Areas. Tenant agrees to comply and be in compliance at all times in all material respects with such Governmental Requirements as are applicable to the Facility and/or any delays caused by Tenant LED Screen, including, without limitation, the Facility LED Screens and the Ancillary LED Screens or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession its use or operation of the Premises Facility and/or any LED Screen, including, without limitation, the Facility LED Screens and the Ancillary LED Screens. Tenant shall have the right, at its sole cost and expense, to Tenant on contest the validity of any such Governmental Requirements or before January 2, 2015 (the “Base Rent Delivery Date”), application thereof. Any such proceeding instituted by Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day commenced as soon as is reasonably practicable after the Base Rent Delivery Date and ending on the date Landlord so tenders possession arising of any such contested matters, or after notice (actual or constructive) to Tenant of the Premises applicability of such matters to Tenant. Any such Base Rent Abatement the Facility and shall be separate from prosecuted to final adjudication with reasonable dispatch. Upon Tenant’s request, Landlord shall, at Tenant’s sole cost and expense, reasonably cooperate in addition to any Rent Abatement described in Section 3.2 belowsuch proceeding brought by Tenant, provided Landlord reasonably agrees with Tenant’s basis for contest.
Appears in 1 contract
Samples: Lease Agreement
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 (a) This Lease shall be effective as continue in force during a period beginning on Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated or extended to a later date under any other term or provision hereof.
(b) If by the date specified as hereinafter provided. the Commencement Date in Paragraph l (d), the Premises have not been substantially completed pursuant to the Work Letter due to omission, delay or default by Tenant hereby acknowledges that or anyone acting under or for Tenant or due to any cause other than Landlord’s default, Landlord shall have no liability for such failure to complete, and the obligations of this Lease (including without limitation the obligation to pay rent) shall nonetheless commence as of said Commencement Date.
(c) If however the Premises are currently occupied not substantially completed by another tenant the date specified as the Commencement Date in Paragraph l(d) and such failure to complete is due to default on the part of Landlord, then, as Tenant’s sole remedy for the delay in Tenant’s occupancy of the Building. If Premises, the Commencement Date shall be delayed (and the rent herein provided shall not commence) until the earlier of either (i) the date of actual occupancy by Tenant or (ii) the date of substantial completion of the work which Landlord is unable for any reason has agreed to deliver perform.
(d) Tenant agrees to accept possession of the Premises when the Building Standard Improvements to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice Premises as provided in the form as set forth in Exhibit C, attached hereto, as a confirmation only Work Letter have been substantially completed. If there are any finishing touches remaining to be done which will not materially interfere with the conduct of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon business on the Premises, Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession will nevertheless accept delivery of the Premises and allow Landlord to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any complete such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowfinishing touches.
Appears in 1 contract
Lease Term. (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 xxxxx 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 xxx 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
Samples: Lease Agreement (Danger Inc)
Lease Term. The terms and provisions term of this Lease shall be effective as of the date of this Lease. The term of this Lease two (2) years and no (0) months commencing November 1, 2007 (the “Lease Term”) shall commence on the “Lease "Commencement Date,” as that term is set forth in Section 3.2 of ") and terminating on October 31, 2009 (the Summary, and "Termination Date") unless the termination date shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is be terminated sooner terminated as hereinafter provided. Tenant hereby acknowledges In the event that the Premises are currently occupied by another tenant of the Building. If Landlord is unable Landlord, for any reason to deliver possession of the Premises to Tenant on any specific date reason, then Landlord shall cannot be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2the Commencement Date, 2015 (this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant in any way as a result of such failure to tender possession.
3.1 In the “Base Rent Delivery Date”), Tenant shall be entitled event of the inability of Landlord to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders deliver possession of the Premises to TenantTenant on the 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 such event the Term shall not commence until such time as Landlord tenders delivery of possession of the Premises to Tenant with Landlord's work therein, if any, substantially completed. Any Should Landlord tender possession of the Premises to Tenant prior to the Commencement Date and Tenant elects to accept such Base Rent Abatement prior tender, the Term shall thereupon commence and such prior occupancy shall be separate subject to all of the terms of this Lease, including the payment of rent and other expenses.
3.2 In the event that Tenant is allowed to enter into possession of the Premises prior to the Commencement Date, such Possession shall be deemed to be pursuant to, and shall be governed by, the terms, covenants and conditions of this Lease, including without limitation the covenant to pay operating expenses, as though the Commencement Date occurred upon the date of taking of possession by Tenant.
3.3 In the event that the Commencement Date falls on other than the first day of a month, rent for any initial partial month of the term hereof shall be appropriately prorated; and if the date of commencement of Tenant's rent obligations, pursuant to Paragraph 3.0 above, is other than the Commencement Date, the end of the term hereof shall be adjusted to sixty (60) months from and in addition to any Rent Abatement described in Section 3.2 belowthe first day of the month after the actual occupancy date. At the request of either party hereto, both parties shall execute a memorandum confirming the date of commencement of Tenant's rent obligations.
Appears in 1 contract
Lease Term. The terms and provisions of this (a) This Lease shall be effective as continue in force during a period beginning on the Rent Commencement Date and continuing until the expiration of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. or extended to a later date under any other term or provision hereof.
(b) If Landlord is unable Landlord, for any reason to whatsoever, cannot deliver possession of the Premises to Tenant on any specific date given date, then Landlord this Lease shall not be subject to any liability for its failure to do sovoid or voidable, no obligation of Tenant shall be affected thereby, and such failure neither Landlord nor Landlord's agents shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver be liable to Tenant a notice for any loss or damage resulting from the delay in the form as set forth in Exhibit C, attached hereto, as a confirmation only delivery of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereofpossession; provided, however, that in such event, except to the extent of any Tenant’s failure to execute 's Delay (as hereinafter defined) the Rent Commencement Date of this Lease and return such notice to Landlord within such time all other dates that may be affected by their change, shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition revised to conform to the foregoingdate of Landlord's delivery of possession to Tenant.
(c) Notwithstanding anything contained in this Lease to the contrary, subject Tenant shall observe and perform all of its obligations under this Lease, including, without limitation, its obligation to pay charges for utilities and to provide insurance (excepting its obligation to pay any delays caused by Rent required under the Lease or to operate its business within the Premises), from the date upon which the Premises are made available to Tenant for Tenant Improvements or any the date Tenant Parties and events commences to perform Tenant Improvements, whichever is earlier, until the actual Rent Commencement Date. For purposes of Force Majeure, if Landlord fails to tender tendering possession of the Premises to Tenant on as aforesaid, Landlord shall not be required to have completed or before January 2substantially completed any work to be performed outside of the Premises.
(d) If Landlord is obligated to complete any of the Tenant Improvements, 2015 then if by the date specified as the Rent Commencement Date in Subparagraph 1(a)(iv) of this Lease, Landlord has not substantially completed any of the Tenant Improvements to the Premises set forth in the Work Letter required to be made by the Landlord, if any, then, except to the extent of any Tenant's Delay (the “Base Rent Delivery Date”as hereinafter defined), Tenant Tenant's sole remedy shall be entitled that the Rent Commencement Date shall be postponed (and the Rent herein provided shall not commence) until the earlier of either: (i) the date of actual occupancy of the Premises by Tenant; or (ii) the date immediately following the day Landlord would have achieved substantial completion of such improvements but for Tenant's Delay, if any. Other than postponing the Rent Commencement Date as provided in this Subparagraph (b), Landlord shall have no further liability for failure to achieve substantial completion by the Rent Commencement Date specified in Subparagraph 1(a)(iv) of this Lease.
(e) Notwithstanding anything contained in this Lease to the contrary, if, and to the extent, Landlord's substantial completion of the Tenant Improvements to the Premises required to be made by the Landlord, if any, pursuant to Exhibit "D" hereto and/or delivery of the Premises is materially delayed due to any act, omission or default by Tenant or anyone acting under or for Tenant (any such delay being referred to herein as "Tenant Delay"), then the Rent Commencement Date shall be moved forward (earlier) one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any delay caused by such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowTenant Delay.
Appears in 1 contract
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 Xxx. §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 xxxxx 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
Samples: Lease Agreement
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term Lease except for the provisions of this Lease relating to the payment of Rent. The Lease Term shall be as set forth in Article 5 (the “Lease Term”) of the Basic Lease Provisions above and shall commence on the “Lease Commencement Date,” as that term is Date set forth in Section 3.2 Article 6 (Commencement Date) of the SummaryBasic Lease Provisions above, and shall terminate on the date that is the last day of the thirty-sixth (36th) full calendar month following the Rent Commencement Date (the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary”), unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that Following the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date Commencement Date, then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice an amendment in the form as set forth in Exhibit CC (Form of Amendment to Lease) attached hereto (the “Commencement Date Amendment”), attached heretosetting forth, as a confirmation only of among other things, the information set forth thereinCommencement Date, which Rent Commencement Date and the Expiration Date, and Tenant shall execute and return such Commencement Date Amendment to Landlord within ten (10) business days of after Tenant’s receipt thereof; provided, however, Tenant. Xxxxxx’s failure to execute and deliver the Commencement Date Amendment shall not alter the actual Commencement Date hereunder, provided, however, if Xxxxxx fails to execute and return such notice to Landlord the Commencement Date Amendment within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”)10business day period, Tenant shall be entitled deemed to one have approved and confirmed the dates set forth therein. No such deemed approval shall relieve Tenant of its obligation to execute and return the Commencement Date Amendment (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement failure shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowconstitute a default by Tenant hereunder).
Appears in 1 contract
Samples: Commercial Lease Agreement (Lulu's Fashion Lounge Holdings, Inc.)
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
Samples: Master Equipment Lease Agreement (American Income Partners v a LTD Partnership)
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The initial term of this Lease will be for a period of ten years (the “Lease Term”) shall commence "INITIAL LEASE TERM"), commencing on the “date ("COMMENCEMENT DATE") which is the later of: (a) May 1, 1997; or (b) the 46th day after the substantial completion of the Improvements. The Initial Lease Term will end on the tenth anniversary of the Commencement Date,” as that term . Notwithstanding anything to the contrary contained herein, if the substantial completion of the Improvements is delayed beyond the targeted substantial completion date set forth in Section 3.2 /section/4, above, as a result of any Tenant-caused Delay Event (meaning any of those Delay Events specified in subparagraphs (d) through (h) in /section/4), then the Commencement Date of the SummaryInitial Lease Term will be deemed to be the later of May 1, 1997 or the date which, but for the occurrence of such Tenant-caused Delay Event, would have been the Commencement Date within the meaning of the first sentence of this /section/5, and shall terminate on the “Lease Expiration Date,” as that term is from and after such date, Tenant will be obligated to pay Base Rent and all Operating Expenses and otherwise perform all of its other obligations and duties set forth in Section 3.3 this Lease. Tenant will have an option to extend the Lease Term for up to three consecutive renewal terms of five years each. Tenant's right to exercise its option with respect to any such renewal term will be expressly conditioned upon both of the Summary, unless this Lease is sooner terminated as hereinafter provided. following conditions being satisfied with respect to each such renewal term: (a) Tenant hereby acknowledges that must give written notice to Landlord of its election to exercise its option with respect to such renewal term at least 180 days prior to the Premises are currently occupied by another tenant scheduled commencement date of such renewal term; and (b) on the date of the Buildingexercise of such option and on the scheduled date for the commencement of such renewal term, the Lease must be in full force and effect without any material default by Tenant thereunder. If Landlord is unable for any reason to deliver possession Tenant's occupancy of the Premises to Tenant on Property during any specific date , then Landlord shall not such renewal term will be subject to any liability for upon the same terms and conditions which govern its failure to do so, and such failure shall not affect occupancy of the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period Property during the Lease Term. At any time during the Initial Lease Term, Landlord may deliver except that the Base Rent payable during each such renewal term will be as provided in /section/6. All references in this Lease to the "LEASE TERM" will include the Initial Lease Term and any renewal term exercised by Tenant a notice in pursuant to this /section/5. Tenant will have the form as set forth in Exhibit Cright, attached heretoif it so elects, as a confirmation only to occupy the Building (or any part thereof) during the period after substantial completion of the information set forth thereinImprovements and prior to the Commencement Date ("EARLY OCCUPANCY PERIOD"), which Tenant shall execute and return without having any obligation to Landlord within ten (10) business days of receipt thereofpay any Base Rent; provided, however, Tenant’s failure that Tenant will be obligated to execute and return pay all Operating Expenses accruing during such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition Early Occupancy Period with respect to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession part of the Premises Building which it so occupies and will otherwise be required throughout the Early Occupancy Period to perform all of its other duties and obligations under this Lease with respect to the portion of the Building which it so occupies. Tenant on or before January 2will have the right during the Early Occupancy Period to install its telephone and computer equipment, 2015 (the “Base Rent Delivery Date”)furniture and work stations and pursue other pre-occupancy tasks. As of even date herewith, Tenant shall and HIBC Development Company have entered into an Expansion Agreement, which contemplates that, under certain circumstances, the initial Lease Term will be entitled extended to one (1) day become co-terminus with the termination date of per diem Base Rent abatement Tenant's leasing of an additional building to be constructed by HIBC Development Company for each day commencing on Tenant. The terms and conditions of any such extension of the day after initial Lease Term hereunder and the Base Rent Delivery Date and ending on payable by Tenant during any such extension period will be governed by the date Landlord so tenders possession terms of the Premises aforementioned Expansion Agreement. In the event that Tenant decides to Tenantinvoke its expansion rights under the Expansion Agreement and the initial Lease Term hereunder is thereby extended, Landlord will be obligated to pay Properties Atlantic, Inc. a brokerage commission upon any such extension of the initial Lease Term in an amount equal to $3.00 per rentable square foot contained within the Building, multiplied by a fraction which has as its numerator the number of full or partial years by which the initial Lease Term is extended and which has as its denominator ten years. Any such Base Rent Abatement shall commission will be separate from and payable in addition to any Rent Abatement described in Section 3.2 belowfull upon the parties' full execution of the document so extending the initial Lease Term.
Appears in 1 contract
Samples: Lease Agreement (Hte Inc)
Lease Term. The terms and provisions of this 3.1 This Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence continue in force during a period beginning on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate terminating on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated or extended to a later date under any other term or provision of this Lease. Tenant shall be permitted entry to the Premises four (4) weeks prior to the anticipated Commencement Date for the purpose of installing its fixtures and equipment and performing such other work as is necessary to prepare the Premises for occupancy. This early entry will be at Tenant’s sole risk and subject to all the terms and provisions of this Lease as though the Commencement Date had occurred, except for the payment of rent, which will commence on the Commencement Date. Tenant, and its contractors, agents and employees will not materially interfere with or delay the construction of the Tenant Improvements. All rights of Tenant under this Section 3.1 will be subject to the requirements of all applicable building codes, zoning requirements, and federal, state and local laws, rules, and regulations, and shall not interfere with Landlord’s compliance with laws, including the obtaining of a certificate of occupancy or completion, as applicable for the Premises.
3.2 Provided that the Final Plans (as defined in the Work Letter) (with all final finishes) for the Tenant Improvements are approved by Landlord and Tenant, and in form complete for the purpose of bidding and obtaining a building permit, on or before May 15, 2003, Landlord reasonably believes that the Tenant Improvements (excluding the Tenant Improvements in the First Floor Space) will be substantially completed on or before August 21, 2003. If the Tenant Improvements have not been Substantially Completed by August 21, 2003, Landlord shall have no liability of any kind whatsoever therefor, and the Commencement Date shall be deferred and determined in accordance with Section 1.5 of this Lease. Notwithstanding the foregoing, if Substantial Completion of the Tenant Improvements is delayed by a Tenant Delay (as defined in Subparagraph 3.3), the Commencement Date shall be the date on which Substantial Completion would have occurred but for the Tenant Delay.
3.3 Notwithstanding anything to the contrary contained in Section 3.2, and provided that, on or before May 15, 2003, (i) the Final Plans (as defined in the Work Letter) (with all final finishes) for the Tenant Improvements are approved by Landlord and Tenant, and in form complete for the purpose of bidding and obtaining a building permit, and (ii) Tenant has waived, in writing, its termination right set forth in Section 3.5 below, then, if the Tenant Improvements (excluding the Tenant Improvements in the First Floor Space) have not been Substantially Completed by September 21, 2003, as such date shall be extended by the period of any delay caused by Tenant Delay (as hereinafter provided. defined) or a force majeure event (as described in Section 34 below) (such date, as it may be so extended, the “Outside Date”), then Tenant, as its sole and exclusive remedy, shall receive, in addition to the scheduled rent abatement described in Sections 1.3 and 5.4, Tenant hereby acknowledges shall receive two days of abatement of Base Rent and Tenant’s obligation to pay Tenant’s Proportionate Share in increases in Operating Expenses for each day past the Outside Date that the Premises are currently occupied by another tenant of the Buildingnot Ready for Occupancy. If Landlord is unable for any reason to deliver possession of the Premises to As used herein, a “Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease YearDelay” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice delay in the form as set forth in Exhibit C, attached hereto, as a confirmation only substantial completion of the information set forth thereinTenant Improvements caused by any act or omission of Tenant or any of its agents, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; providedemployees or contractors, howeverincluding, without limitation, Tenant’s failure to execute timely provide information reasonably requested by Landlord in order to prepare the space plan or construction drawings, Tenant’s failure to timely review and return such notice comment upon the proposed space plan or construction drawings, Tenant’s request for changes to the final, approved construction drawings, Tenant’s request for “long lead items” (meaning, items which, due to their unique nature, require long manufacturing or delivery times and are not readily available in a time frame consistent with the construction schedule for the Tenant Improvements; Landlord within such will advise Tenant of the existence of long lead items at the time shall be conclusive upon of Landlord’s review of the plans or drawings in question), interference by Tenant that or its agents, contractors or employees with Landlord’s performance of the information Tenant Improvements, and Tenant’s failure on or before May 15, 2003, to waive its termination right set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 3.5 below.
Appears in 1 contract
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,” as that term is set forth in Section 3.2 Date and expire on the last day of the Summary, and shall terminate on the “thirty sixth (36th) month thereafter ("Initial Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless Term"). Provided: (i) this Lease is sooner terminated as hereinafter in full force and effect; and (ii) Tenant is not then in default hereunder, Tenant shall have the right to elect to extend the Lease Term for one (1) term of sixty (60) months (the "Extended Lease Term”). The Extended Lease Term shall be upon the terms, covenants and agreements provided in this Lease, provided. Tenant hereby acknowledges , however: (a) that the Premises are currently occupied by another tenant Rent shall be due on the first (1st) day of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Extended Lease Term; (b) Tenant on any specific date , then Landlord shall not be subject entitled to any liability for its failure to do so, Reduced Rent; and such failure (c) Tenant shall not affect the validity of this Lease be entitled to any Tenant Allowance or the obligations of any other incentive(s) or allowances. If 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 elects to extend 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 give notice to Landlord within of such time election on or before October 1, 2021 to extend the Lease Term for the Extended Lease Term. The phrase "Lease Term" shall be conclusive upon Tenant that include the information set forth in such notice is Initial Lease Term and Extended Lease Term, as specified thereinthe case may be. In addition to Notwithstanding the foregoing, subject to any delays caused by if: (i) Tenant or any is not then in default hereunder; (ii) Xxxxxx has paid all Rent hereunder; and (iii) Tenant Parties has completed 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”)paid for Tenant’s Work, Tenant shall be entitled have the right to one terminate this Lease (1“Lease Termination Option”) day of per diem Base Rent abatement for each day during the period commencing on the day after the Base Rent Delivery Date February 1, 2020 and ending on September 30, 2021 (“Lease Termination Period”) after: (a) not less than one hundred twenty (120) days prior written notice to Landlord (“Lease Termination Notice”); (b) payment of a lease termination fee equal to three (3) months Minimum Rent (“Lease Termination Fee”); and (c) Tenant delivers the date Landlord so tenders possession of the Leased Premises to TenantLandlord in the condition required by this Lease. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 belowFor clarity, the Lease Termination Option only exists during the Lease Termination Period.
Appears in 1 contract
Lease Term. The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “"Lease Term”") shall be as set forth in Section 3.1 of the Summary, shall commence on the “Lease Commencement Date,” as that term is date set forth in Section 3.2 of the SummarySummary (the "Lease Commencement Date"), and shall terminate on the “Lease Expiration Date,” as that term is date set forth in Section 3.3 of the Summary, Summary (the "Lease Expiration Date") unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten five (105) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to Notwithstanding the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender has not delivered possession of the Premises to Tenant in the condition required by Section 1.1.1, above, (1) on or before January 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
Samples: 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
Samples: 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
Samples: Plaza Lease