Common use of Letting Clause in Contracts

Letting. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises upon all of the terms, covenants, and conditions, set forth in this Lease. Any statement of square footage set forth in this Lease or that may have been used in calculating Base Rent and/or Operating Expenses is an approximation which Landlord and Tenant agree is reasonable, and the Base Rent and Tenant’s Share based thereon is not subject to revision whether or not the actual square footage is more or less. Tenant accepts the Premises in its present “As-Is” condition, state of repair and operating order. On the Commencement Date, Landlord shall deliver the Premises, clean room, HVAC systems serving the lab, roof and lights in good working order and repair with the existing building operating systems, including electrical, mechanical, plumbing, lighting and sprinkler systems in good working order and repair. Tenant shall have a warranty period of one hundred twenty (120) days (i) (which warranty period shall commence fifteen (15) days following the Commencement Date) with respect to the clean room and HVAC systems serving the lab to confirm such condition and (ii) (which warranty period shall commence one (1) month following the Rent Commencement Date) with respect to the remaining elements of the Building referenced above to confirm such condition. Tenant’s failure to notify Landlord in writing within such respective one hundred twenty (120) day periods of any deficiencies in such systems shall be deemed Tenant’s approval of the condition thereof.

Appears in 2 contracts

Samples: Lease (Pacific Biosciences of California Inc), Lease (Pacific Biosciences of California Inc)

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Letting. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises upon all of the terms, covenants, and conditions, set forth in this Lease. Any statement of square footage set forth in this Lease or that may have been used in calculating Base Rent and/or Operating Expenses is an approximation which Landlord and Tenant agree is reasonable, and the Base Rent and Tenant’s Share based thereon is not subject to revision whether or not the actual square footage is more or less. Tenant accepts the Premises in its present “As-Is” condition, state of repair and operating order. On the Commencement Date, except as may be set forth in Exhibit F attached hereto and Landlord shall deliver the PremisesPremises to Tenant in good condition and repair, clean room, HVAC systems serving and with the lab, roof and lights all “Building Systems” (defined below) in good working order and repair with the existing building operating systems, including electrical, mechanical, plumbing, lighting and sprinkler systems in good working order and repaircondition. Tenant shall have a warranty review period of one hundred twenty (120) days (i) (which warranty period shall commence fifteen (15) days following the Commencement Date) with respect to the clean room and HVAC systems serving the lab Date to confirm such condition and (ii) (which warranty period shall commence one (1) month following the Rent Commencement Date) with respect to the remaining elements of the Building referenced above to confirm such conditionSystems and roof. Tenant’s failure to notify Landlord For the purposes hereof, “Building Systems” shall mean the HVAC (as defined in writing within such respective Section 4.2(a)(x)), and the electrical, plumbing and other mechanical systems (including fire/life safety systems) which serve the Building in whole or in part. During the one hundred twenty (120) day periods of any deficiencies in period immediately following the Commencement Date, Landlord shall use commercially reasonable efforts to cause such repairs to be made to the Building Systems and roof as are necessary so that such systems shall be deemed and roof are in good working order and condition at no additional cost or expense to Tenant’s approval . If Tenant fails to timely deliver to Landlord any such written notice of the condition thereofaforementioned defects or deficiencies within said one hundred twenty (120) day period, Landlord shall have no obligation to perform any such work thereafter, except as otherwise specifically provided in this Lease.

Appears in 1 contract

Samples: Industrial Lease (Mips Technologies Inc)

Letting. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises upon all of the terms, covenants, and conditions, set forth in this Lease. Any statement of square footage set forth in this Lease or that may have been used in calculating Base Rent and/or Operating Expenses is an approximation which Landlord and Tenant agree is reasonable, and the Base Rent and Tenant’s Share based thereon is not subject to revision whether or not the actual square footage is more or less. Tenant accepts the Premises in its present “As-Is” condition, state of repair and operating order. On the Commencement Date, Landlord shall deliver the PremisesPremises to Tenant with the roof water-tight, clean room, HVAC the operating systems serving the lab, roof and lights Premises in good working order condition, the “Tenant Improvements” set forth in Exhibit “F” substantially completed and the items on Exhibit “D” in the condition specified therein. Landlord shall repair with or correct, at its sole cost and expense, after receipt of Tenant’s written notice thereof, which notice must be delivered to Landlord within the existing building operating systems, including electrical, mechanical, plumbing, lighting and sprinkler systems in good working order and repair. Tenant shall have a warranty period of one hundred twenty first ninety (12090) days (i) (which warranty period shall commence fifteen (15) days following the Commencement Date) with respect to the clean room and HVAC systems serving the lab to confirm such condition and (ii) (which warranty period shall commence one (1) month following after the Rent Commencement Date) with respect , any defects or deficiencies of the items set forth in the preceding sentence to the remaining elements extent Tenant has not caused such defects or deficiencies. If Tenant fails to timely deliver to Landlord any such written notice of the Building referenced above aforementioned defects or deficiencies within said 90-day period, Landlord shall have no obligation to confirm perform any such condition. Tenant’s failure to notify Landlord work thereafter, except as otherwise specifically provided in writing within such respective one hundred twenty (120) day periods of any deficiencies in such systems shall be deemed Tenant’s approval of the condition thereofthis Lease.

Appears in 1 contract

Samples: Industrial Lease (Foxhollow Technologies, Inc.)

Letting. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises upon all of the terms, covenants, covenants and conditions, conditions set forth in this Lease. Until July I, 2009 (the “Must Take Date”), the term “Premises” includes only the Initial Premises. On the Must Take Date, the Premises are automatically expanded to include the Must Take Space. Any statement of square footage set forth in this Lease or that may have been used in calculating Base Rent and/or Operating Expenses is an approximation which Landlord and Tenant agree is reasonable, reasonable and the Base Rent and Tenant’s Share based thereon is not subject to revision whether or not the actual square footage is more or less. Tenant accepts the Premises in its present their As-IsAS IS, WHERE IS” condition, state and Landlord, subject to its obligations under Exhibit E, has no obligation to improve, repair, restore, or refurbish the Premises. Txxxxx’s occupancy of repair the Premises is conclusive evidence that Tenant: (A) accepts the Premises as suitable for the purposes for which they are leased; (B) accepts the Premises and operating order. On the Commencement DateIndustrial Center as being in a good and satisfactory condition, subject to punchlist items, if any, that remain to be performed by Landlord shall deliver under Exhibit E; (C) waives any defects in the Premises and the Industrial Center; and (D) having been provided an opportunity to inspect and measure the Premises, clean roomagrees that the square footage numbers specified in this Lease are accurate, HVAC systems serving the labbinding, roof and lights in good working order conclusive for all purposes. Neither Landlord nor any other Landlord Entity has made, and repair with the existing building operating systemsTenant waives, including electrical, mechanical, plumbing, lighting and sprinkler systems in good working order and repair. Tenant shall have a any express or implied representation or warranty period of one hundred twenty (120) days (i) (which warranty period shall commence fifteen (15) days following the Commencement Date) with respect to the clean room and HVAC systems serving Premises or any other portion of the lab to confirm such condition and (ii) (which Industrial Center including, without limitation, any representation or warranty period shall commence one (1) month following the Rent Commencement Date) with respect to the remaining elements suitability or fitness of the Building referenced above to confirm such condition. Premises or any other portion of the Industrial Center for the conduct of Tenant’s failure to notify Landlord in writing within such respective one hundred twenty (120) day periods of any deficiencies in such systems shall be deemed Tenant’s approval of the condition thereofbusiness.

Appears in 1 contract

Samples: Industrial Multi Tenant Lease (PLX Pharma Inc.)

Letting. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises upon all of the terms, covenants, and conditions, set forth in this Lease. Any statement of square footage set forth in this Lease or that may have been used in calculating Base Rent and/or Operating Expenses is an approximation which Landlord and Tenant agree is reasonable, and the Base Rent and Tenant’s 's Share based thereon is not subject to revision whether or not the actual square footage is more or less. Tenant accepts the Premises in its present "As-Is" condition, state of repair and operating order. On Notwithstanding the Commencement Dateforegoing, Landlord shall deliver repair, at its sole cost and expense, after receipt of Tenant's written notice thereof, which notice must be delivered to Landlord within the Premisesfirst sixty (60) days of the Term of this Lease, clean roomany defects or deficiencies of the mechanical, HVAC HVAC, plumbing, and electrical systems serving the lab, roof and lights Premises which are not in good working order and repair with to the existing building operating systems, including electrical, mechanical, plumbing, lighting and sprinkler extent Tenant has not caused such systems to not be in good working order and repairorder. If Tenant fails to timely deliver to Landlord any such written notice of the aforementioned defects or deficiencies within said sixty (60) day period, Landlord shall have a warranty period of one hundred twenty (120) days (i) (which warranty period shall commence fifteen (15) days following the Commencement Date) with respect no obligation to perform any such work thereafter, except as otherwise specifically provided in this Lease. Prior to the clean room delivery of possession to Tenant, Landlord, at its sole cost and HVAC systems serving expense shall have the lab to confirm such condition Premises professionally cleaned and (ii) (which warranty period shall commence one (1) month following obtain from the Rent Commencement Date) prior tenant written confirmation that it closed its laboratory in compliance with respect to the remaining elements all laws and regulations of the Building referenced above to confirm such condition. Tenant’s failure to notify Landlord in writing within such respective one hundred twenty (120) day periods of any deficiencies in such systems shall be deemed Tenant’s approval of the condition thereofappropriate governmental regulatory agency.

Appears in 1 contract

Samples: Industrial Lease (Excaliber Enterprises, Ltd.)

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Letting. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises upon all of the terms, covenants, and conditions, set forth in this Lease. Any statement of square footage set forth in this Lease or that may have been used in calculating Base Rent and/or Operating Expenses is an approximation which Landlord and Tenant agree is reasonable, and the Base Rent and Tenant’s Share based thereon is not subject to revision whether or not the actual square footage is more or less. Tenant accepts the Premises in its present “As-Is” condition, state of repair and operating order. On the Commencement Date, Landlord shall deliver the Premises, clean room, HVAC systems serving the lab, roof and lights in good working order and repair with the existing building operating systems, including electrical, mechanical, plumbing, lighting and sprinkler systems in good working order and repair. Tenant shall have a warranty period of one hundred twenty (120) days (i) (which warranty period shall commence fifteen (15) days following the Commencement Date) with respect to the clean room and HVAC systems serving the lab to confirm such condition and (ii) (which warranty period shall commence one (1) month following the Rent Commencement Date) with respect to the remaining elements of the Building referenced above to confirm such condition. Tenant’s failure to notify Landlord in writing within such respective one hundred twenty (120) day periods of any deficiencies in such systems shall be deemed Tenant’s approval of the condition thereof.

Appears in 1 contract

Samples: Lease (Pacific Biosciences of California Inc)

Letting. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises upon all of the terms, covenants, and conditions, set forth in this Lease. Any statement of square footage set forth in this Lease or that may have been used in calculating Base Rent and/or Operating Expenses is an approximation which Landlord and Tenant agree is reasonable, and the Base Rent and Tenant’s Share based thereon is not subject to revision whether or not the actual square footage is more or less. Tenant accepts the Premises in its present “As-Is” condition, state of repair and operating order. On the Commencement Date, subject to Exhibit F (Tenant Improvements); provided, however, Landlord shall deliver repair, at its sole cost and expense, after receipt of Tenant’s written notice thereof, which notice must be delivered to Landlord within the Premisesfirst sixty (60) days after possession of the Premises have been tendered to Tenant for occupancy or early occupancy as the case may be, clean room, HVAC any defects or deficiencies of the mechanical or electrical systems serving the lab, roof and lights Premises which are not in good working order and repair with to the existing building operating systems, including electrical, mechanical, plumbing, lighting and sprinkler extent Tenant has not caused such systems to not be in good working order and repairorder. If Tenant fails to timely deliver to Landlord any such written notice of the aforementioned defects or deficiencies within said 60-day period, Landlord shall have a warranty period of one hundred twenty (120) days (i) (which warranty period shall commence fifteen (15) days following the Commencement Date) with respect no obligation to the clean room and HVAC systems serving the lab to confirm perform any such condition and (ii) (which warranty period shall commence one (1) month following the Rent Commencement Date) with respect to the remaining elements of the Building referenced above to confirm such condition. Tenant’s failure to notify Landlord work thereafter, except as otherwise specifically provided in writing within such respective one hundred twenty (120) day periods of any deficiencies in such systems shall be deemed Tenant’s approval of the condition thereofthis Lease.

Appears in 1 contract

Samples: Industrial Lease (InvenSense Inc)

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