Common use of Modification of the Premises Clause in Contracts

Modification of the Premises. (a) Landlord hereby leases and rents unto the Tenant and the Tenant hereby hires and takes from the Landlord the Expansion Premises. From and after the date of this Amendment, all references in the Lease to the Premises shall be deemed to include the Expansion Premises. (b) Tenant agrees to vacate the Give Back Space on or before April 30, 2005, and to surrender the Give Back Space to Landlord in accordance with the terms and conditions of the Lease, as if such date were the expiration date of the Lease with respect to the Give Back Space. Subject to the terms and conditions of this Amendment, the Term of the Lease shall terminate with respect to the Give Back Space on the date that Tenant vacates the Give Back Space and surrenders it to Landlord as set forth above (such date, the “Give Back Date”). If Tenant fails to vacate the Give Back Space on or before April 30, 2005, other than due to Landlord’s failure to enter into a lease with 3Com for the Give Back Space, Tenant shall be a tenant at sufferance with respect to the Give Back Space and shall continue paying Base Rent on the Give Back Space at the per rentable square foot rate set forth in the Original Lease, in addition to the Base Rent set forth in Section 5 below. Tenant acknowledges that Landlord has entered into, or intends to enter into a lease with 3Com Corporation for the Give Back Space, and that such lease is a material inducement to Landlord’s entering into this Agreement, and that Landlord could suffer significant damages if Tenant defaults under the terms of this Agreement. Nothing herein shall be deemed to constitute Landlord’s consent or acquiescence to Tenant’s remaining in the Give Back Space after April 30, 2005. From and after the Give Back Date, all reference in the Lease to the Premises shall be deemed to exclude the Give Back Space. (c) From and after the Give Back Date, the Premises shall consist of the remaining portion of the Original Premises comprising the sixth floor of the Building (the “Remaining Premises”) and the Expansion Premises, with the entire Premises consisting of a total of approximately 37,371 rentable square feet, and Section 2.2 of the Summary is amended accordingly.

Appears in 2 contracts

Samples: Sublease Agreement (Exact Sciences Corp), Office Lease (Exact Sciences Corp)

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Modification of the Premises. (a) Landlord hereby leases and rents unto the Tenant and the Tenant hereby hires and takes from the Landlord the Expansion Premises. From and after the date of this Amendment, all references in the Lease to the Premises shall be deemed to include the Expansion Premises. (b) Tenant agrees to vacate the Give Back Space on or before April 30, 2005, and to surrender the Give Back Space to Landlord in accordance with the terms and conditions of the Lease, as if such date were the expiration date of the Lease with respect to the Give Back Space. Subject to the terms and conditions of this Amendment, the Term of the Lease shall terminate with respect to the Give Back Space on the date that Tenant vacates the Give Back Space and surrenders it to Landlord as set forth above (such date, the "Give Back Date"). If Tenant fails to vacate the Give Back Space on or before April 30, 2005, other than due to Landlord’s 's failure to enter into a lease with 3Com for the Give Back Space, Tenant shall be a tenant at sufferance with respect to the Give Back Space and shall continue paying Base Rent on the Give Back Space at the per rentable square foot rate set forth in the Original Lease, in addition to the Base Rent set forth in Section 5 below. Tenant acknowledges that Landlord has entered into, or intends to enter into a lease with 3Com Corporation for the Give Back Space, and that such lease is a material inducement to Landlord’s 's entering into this Agreement, and that Landlord could suffer significant damages if Tenant defaults under the terms of this Agreement. Nothing herein shall be deemed to constitute Landlord’s 's consent or acquiescence to Tenant’s 's remaining in the Give Back Space after April 30, 2005. From and after the Give Back Date, all reference in the Lease to the Premises shall be deemed to exclude the Give Back Space. (c) From and after the Give Back Date, the Premises shall consist of the remaining portion of the Original Premises comprising the sixth floor of the Building (the "Remaining Premises") and the Expansion Premises, with the entire Premises consisting of a total of approximately 37,371 rentable square feet, and Section 2.2 of the Summary is amended accordingly.

Appears in 1 contract

Samples: Office Lease (Exact Sciences Corp)

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Modification of the Premises. (a) Landlord hereby leases and rents unto the Tenant and the Tenant hereby hires and takes from the Landlord the Expansion Premises. From and after the date of this Amendment, all references in the Lease to the Premises shall be deemed to include the Expansion Premises. (b) Tenant agrees to vacate the Give Back Space Additional Premises on or before April 30December 31, 20052006, and to surrender the Give Back Space Additional Premises to Landlord in accordance with the terms and conditions of the Lease, as if such date were the expiration date of the Lease with respect to the Give Back SpaceAdditional Premises. Subject to the terms and conditions of this Amendment, the Term of the Lease shall terminate with respect to the Give Back Space Additional Premises on the date that Tenant vacates the Give Back Space Additional Premises and surrenders it to Landlord as set forth above (such date, the “Give Back Date”"GIVE BACK DATE"). (b) Nothing herein shall be deemed to constitute Landlord's consent or acquiescence to Tenant's remaining in the Additional Premises after December 31, 2006. If Tenant fails to vacate the Give Back Space Additional Premises on or before April 30December 31, 20052006, other than due to Landlord’s 's failure to enter into a lease with 3Com Wellington Management Company LLP for the Give Back SpaceAdditional Premises, Tenant shall be a tenant at sufferance with respect to the Additional Premises and the Rent Continuance Date shall be extended by one day for every day that elapses from December 31, 2006 to and including the Give Back Space and Date. In addition, if Tenant has not vacated the Additional Premises by December 31, 2006, commencing on January 1, 2007 Tenant shall continue paying Base pay Additional Rent on the Give Back Space Additional Premises at a rate of $2,100.00 per day (the per rentable square foot rate set forth in the Original Lease"Holdover Premium Rent"), in addition to the Base Rent set forth in Section 5 below. below and all other Additional Rent due pursuant to the terms of the Lease; provided however, if Tenant has given Landlord written notice on or before December 20, 2006 that it will not be able to vacate the Additional Premises by December 31, 2006, but agrees to vacate by a date certain specified in such notice, the Holdover Premium Rent shall not commence until January 15, 2007. (c) Tenant acknowledges that Landlord has entered into, or intends to enter into a lease amendment (the "Wellington Amendment") with 3Com Corporation Wellington Management Company, LLP ("Wellington") for the Give Back SpaceAdditional Premises, and that such lease the Wellington Amendment is a material inducement to Landlord’s 's entering into this AgreementFifth Amendment, and that Landlord could suffer significant damages if Tenant defaults under the terms of this AgreementFifth Amendment. Nothing herein shall be deemed to constitute Landlord’s consent or acquiescence to Tenant’s remaining in If the Give Back Space after April 30Date has not occurred on or before January 14, 2005. 2007, Tenant shall also be liable for, and shall reimburse Landlord upon demand for all costs, expenses, and damages incurred by Landlord, including without limitation, reasonable attorneys' fees and brokerage fees and commissions paid or incurred in connection with the Wellington Amendment, any and all damages due to Wellington for failure to deliver the Additional Premises to Wellington on January 1, 2007 pursuant to the Wellington Amendment, and if Wellington terminates its lease agreement with Landlord for the Additional Premises because of Tenant's failure to vacate the Additional Premises on or before December 31, 2006, in addition to any other remedies available to Landlord under this Fifth Amendment and/or at law or in equity, Landlord may terminate this Fifth Amendment. (d) From and after the Give Back Date, all reference references in the Lease to the Premises shall be deemed to exclude the Give Back Space. (c) Additional Premises. From and after the Give Back Date, the Premises shall consist of the remaining portion of the Original Premises comprising the sixth floor of the Building (the “Remaining Premises”) and the Expansion Premises, with the entire Premises consisting of a total of approximately 37,371 170,793 rentable square feet, and Section 2.2 of the Summary is amended accordingly.

Appears in 1 contract

Samples: Lease (3com Corp)

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