Common use of Must Take Space Clause in Contracts

Must Take Space. As used herein, the term “Must-Take Space” means approximately 4,789 square feet of rentable area in the Building commonly known as Suite 202 and as outlined in Exhibit B-4 attached to this Agreement. The Premises shall be expanded to include the Must-Take Space on the date (the “Must-Take Space Commencement Date”) that is the earlier of (A) the date upon which Tenant first commences to conduct business in the Must-Take Space, and (B) the date that is ninety (90) days after the Must-Take Space Early Occupancy Date (as defined below). Tenant shall be permitted to enter into the Must-Take Space on the Must-Take Space Early Occupancy Date without the obligation for payment of Rent for the purposes of installing its furniture, fixtures, cabling, files and equipment and improving the Must-Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”; and provided that (a) Tenant first provides Landlord with proof of insurance that is required by the terms of the Lease, modified to apply to the Must-Take Space, (b) all construction by Tenant shall be performed in accordance with the terms of the Lease and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord of Tenant’s schedule of early entry. Any access by Tenant or its agents to the Must-Take Space prior to the Must-Take Space Commencement Date shall be subject to all of the terms and conditions of the Lease, except that the obligation to pay Rent shall not commence until the Must-Take Space Commencement Date, and no such early access shall alter the Must-Take Space Commencement Date, Without limiting any other provision of the Lease, except to the extent caused by the gross

Appears in 2 contracts

Samples: Third Amendment to Lease (PROCEPT BioRobotics Corp), Third Amendment to Lease (PROCEPT BioRobotics Corp)

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Must Take Space. As used herein(a) Subject to the terms and conditions of this Section 19, as of the Must-Take Space Inclusion Date, the term entire rentable area of the 56th floor of the Building (herein referred to as “Must-Take Space” means approximately 4,789 square feet of rentable area ”), as more particularly shown on the floor plan annexed hereto as Exhibit O, shall be added to and included in the Building commonly known Premises upon the terms and subject to the conditions of the Lease and to such additional terms and conditions as Suite 202 and as outlined in Exhibit B-4 attached are hereinafter set forth. Landlord shall send to this Agreement. The Premises shall Tenant a notice (herein called the “Must-Take Notice”), which may not be expanded sent by Landlord prior to include the date which is 18 months prior to the anticipated Must-Take Space Inclusion Date and may not be sent on the date or after December 1, 2021 (the “Must-Take Space Commencement End Date”), indicating that the Must-Take Space shall be coming Available (as defined in Section 9 of this Amendment) that is the earlier of (A) and indicating the date upon of the anticipated Must-Take Inclusion Date. The date on which Tenant first commences to conduct business in Landlord delivers vacant and exclusive possession of the Must-Take Space, with the Expansion Extension Work Substantially Completed and (B) in broom-clean condition shall be referred to herein as the date “Must-Take Space Inclusion Date”; it being understood and agreed that is ninety (90) days after the Must-Take Space Early Occupancy Inclusion Date shall not be earlier than three (as defined below)3) months following the giving of the Must-Take Notice by Landlord to Tenant. Tenant shall be permitted Notwithstanding anything contained in this Section 19 to enter into the contrary, Landlord has no obligation to lease the Must-Take Space on to Tenant and Landlord has no obligation to give the Must-Take Space Early Occupancy Date without the obligation for payment of Rent for the purposes of installing its furniture, fixtures, cabling, files and equipment and improving the Must-Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”; and provided that (a) Tenant first provides Landlord with proof of insurance that is required by the terms of the Lease, modified to apply to the Must-Take Space, (b) all construction by Tenant shall be performed in accordance with the terms of the Lease and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord of Tenant’s schedule of early entry. Any access by Tenant or its agents to the Must-Take Space prior to the Must-Take Space Commencement Date shall be subject to all of the terms and conditions of the Lease, except that the obligation to pay Rent shall not commence until the Must-Take Space Commencement Date, and no such early access shall alter the Must-Take Space Commencement Date, Without limiting any other provision of the Lease, except to the extent caused by the grossNotice.

Appears in 2 contracts

Samples: Lease (Lazard LTD), Lease (Lazard Group LLC)

Must Take Space. As used hereinIn addition to the initial Premises, Tenant shall lease, for a term equal to the term “Must-Take Space” means then unexpired portion of the Term of this Lease, Suite No. 101 comprising approximately 4,789 2,510 rentable square feet of rentable area in the Building commonly known as Suite 202 and as outlined in Exhibit B-4 attached to this Agreement. The Premises shall be expanded to include the Must-Take Space described on the date attached Exhibit A (the “Must-Must Take Space”), whereupon the Must Take Space Commencement Date”) that is shall be deemed a part of the earlier Premises as defined herein. Tenant’s leasing of (A) the date upon which Tenant first commences to conduct business in the Must-Take Space, and (B) the date that is ninety (90) days after the Must-Must Take Space Early Occupancy Date (as defined below). Tenant shall be permitted to enter into the Must-Take Space on the Must-Take Space Early Occupancy Date without the obligation for payment of Rent for the purposes of installing its furniture, fixtures, cabling, files and equipment and improving the Must-Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”; and provided that (a) Tenant first provides Landlord with proof of insurance that is required by the terms of the Lease, modified to apply to the Must-Take Space, (b) all construction by Tenant shall be performed in accordance with the terms of the Lease and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord of Tenant’s schedule of early entry. Any access by Tenant or its agents to the Must-Take Space prior to the Must-Take Space Commencement Date shall be subject to all of the terms of this Lease except that: (i) the term of the Must Take Space (the “Commencement Date for the Must Take Space”) shall commence on July 1, 2020, and shall expire on the Expiration Date; (ii) the Base Rent shall be paid as set forth in Section 1.2 of the Basic Lease Provisions; (iii) effective as of the Commencement Date for the Must Take Space, Tenant shall have the non-exclusive use of an additional 10 unreserved parking stalls at the Project; and (iv) Tenant accepts the Must Take Space in its as-is condition, except Landlord shall convert the kitchen in the Must Take Space into an office. In the event Landlord is unable to deliver possession of the Must Take Space on or before the Commencement Date for the Must Take Space or any other date, Landlord shall not be liable for any damage caused thereby, nor shall this Lease be void or voidable, nor shall the Original Term be extended by such delay. Tenant shall not be liable for Rent for the Must Take Space until Landlord offers possession of the Must Take Space to Tenant. Landlord shall not be required to tender possession of, or access to, the Must Take Space to Tenant until Tenant complies with its obligation to provide evidence of insurance as required pursuant to Section 9 below. Pending delivery of such evidence, Tenant shall be required to perform all of its obligations under this Lease with respect to the Must Take Space from and after the Commencement Date for the Must Take Space, including the payment of Rent for the Must Take Space, notwithstanding Landlord’s election to withhold possession pending receipt of such evidence of insurance. Tenant shall have the right to expand into the Must Take Space prior to July 1, 2020, provided that (x) Tenant gives Landlord at least 60 days’ advance notice of Tenant’s desire to expand into the Must Take Space early, (y) Landlord terminates the existing lease with the tenant of the Must Take Space on terms and conditions of the acceptable to Landlord in its sole discretion, and (z) Tenant and Landlord execute an amendment to this Lease, except that on terms and conditions acceptable to Landlord in its sole discretion, adding the obligation to pay Rent shall not commence until the Must-Must Take Space Commencement Date, and no such early access shall alter the Must-Take Space Commencement Date, Without limiting any other provision of the Lease, except to the extent caused by initial Premises for a term commencing prior to the grossinitially scheduled Commencement Date for the Must Take Space.

Appears in 1 contract

Samples: Office Lease (Vickers Vantage Corp. I)

Must Take Space. As used hereinLandlord and Tenant acknowledge and agree that the fifth (5th) floor of the Building (consisting of approximately 21,260 rentable square feet) is, as of the date hereof, leased by Landlord to Omniture, Inc. (the “5th Floor Existing Lease”) and subleased to DefenseWeb Technologies, Inc. (collectively, the term Must-Existing Lease/Sublease”), Upon the full execution and delivery of this First Amendment by Landlord and Tenant, Landlord shall use good faith efforts to negotiate an early termination of the Existing Lease/Sublease (on terms satisfactory to Landlord in its sole discretion) such that Landlord is able to obtain possession of the entire fifth (5th) floor on or before March 31, 2011 (the “Condition Precedent”), In the event Landlord provides written notice to Tenant that the Condition Precedent has been (or will be) satisfied, then subject to the terms hereof, Tenant hereby agrees to add the fifth (5th) floor of the Building to the Premises (hereinafter referred to as the “Must Take Space”), which Must Take Space is outlined on Exhibit “Cmeans approximately 4,789 attached hereto, Such addition of the Must Take Space to the Premises shall increase the total rentable square feet of rentable area leased by Tenant in the Building commonly known as Suite 202 and as outlined in Exhibit B-4 attached to this Agreement. The Premises shall be expanded to include the Must-Take Space on the date (the “Must-Take Space Commencement Date”) that is the earlier of (A) the date upon which Tenant first commences to conduct business in the Must-Take Space, and (B) the date that is ninety (90) days after the Must-Take Space Early Occupancy Date (as defined below). Tenant shall be permitted to enter into the Must-Take Space on the Must-Take Space Early Occupancy Date without the obligation for payment of Rent for the purposes of installing its furniture, fixtures, cabling, files and equipment and improving the Must-Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”; and provided that (a) Tenant first provides Landlord with proof of insurance that is required by the terms of the Lease, modified to apply to the Must-Take Space, (b) all construction by Tenant shall be performed in accordance with the terms of the Lease and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord of Tenant’s schedule of early entry. Any access by Tenant or its agents to the Must-Take Space prior to the Must-Take Space Commencement Date shall be subject to all of the terms and conditions of the Lease, except that the obligation to pay Rent shall not commence until the Must-Take Space Commencement Date, and no such early access shall alter the Must-Take Space Commencement Date, Without limiting any other provision of the Lease, except to the extent caused by the grossI 0 I ,446 rentable square feet.

Appears in 1 contract

Samples: Lease (Active Network Inc)

Must Take Space. As used hereinTenant shall be required to lease the 8th Floor Space, the term “Must-Take Space” means approximately 4,789 square feet of rentable area in the Building commonly known as Suite 202 defined below and as outlined shown on Schedule “G-9” attached hereto, with at least four (4) months’ prior written notice to Landlord, but in Exhibit B-4 attached to this Agreementany event, no later than May 1, 2015. The Premises shall be expanded to include date on which Tenant leases the Must-Take Space on the date (8th Floor Space, but in any event no later than May 1, 2015, is herein called the “Must-Take Space Commencement Date”) that is the earlier . If, prior to May 1, 2015, Tenant fails to notify Landlord of (A) the date upon on which Tenant first commences to conduct business in it will lease the 8th Floor Space, then the Must-Take Date will, ipso facto, be May 1, 2015. The “8th Floor Space” consists of 16,709 rentable square feet of space in the Building known as Suite 800. The Leased Premises shall be automatically expanded to include all of the 8th Floor Space and, and (B) the date that is ninety (90) days after as of the Must-Take Date, the 8th Floor Space Early Occupancy Date (as defined below). Tenant shall be permitted to enter into the Must-Take Space on the Must-Take Space Early Occupancy Date without the obligation for payment of Rent for the purposes of installing its furniture, fixtures, cabling, files and equipment and improving the Must-Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”; and provided that (a) Tenant first provides Landlord with proof of insurance that is required by the terms of the Lease, modified to apply to the Must-Take Space, (b) all construction by Tenant shall be performed in accordance with the terms of the Lease and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord of Tenant’s schedule of early entry. Any access by Tenant or its agents to the Must-Take Space prior to the Must-Take Space Commencement Date shall be subject to all of the terms and conditions of this Lease, and Tenant shall commence paying Basic Rent and Additional Rent on the 8th Floor Space in the same manner and calculated at the same rate as Basic Rent and Additional Rent is then calculated and paid on the Leased Premises under the Lease, except that subject to the obligation Abatement, which Abatement shall be equal to pay Rent The Abatement for the 8th Floor Space shall not commence until be prorated and shall be an amount equal to the Must-Take Space Commencement Dateproduct of multiplying 12 times a fraction, the numerator of which is the number of full calendar months remaining in the initial Term as of the commencement of Tenant’s lease of the 8th Floor Space, and no such early access shall alter the Must-Take Space Commencement Date, Without limiting any other provision denominator of which is 192 and otherwise subject to Section 3(a) of the Lease. The Improvements for the 8th Floor Space shall be designed and installed in accordance with the procedures and conditions set forth in Schedule “F”, except to the extent caused by applicable. Tenant’s allowance for the grossImprovements to the 8th Floor Space shall be paid in accordance with Schedule “F” and shall be prorated and be an amount equal to the product of multiplying $83.50 times the number of square feet of rentable area in the 8th Floor Space times a fraction, the numerator of which is the number of full calendar months remaining in the initial Term as of the commencement of Tenant’s lease of the 8th Floor Space, and the denominator of which is 192.

Appears in 1 contract

Samples: Lease Agreement (Carters Inc)

Must Take Space. As used herein, A. Tenant hereby leases from Landlord and Landlord hereby leases to Tenant the term “Must-Take Space” means approximately 4,789 4,949 square feet of rentable area in described as Suite No. 310 on the 3rd floor of the Building commonly known as Suite 202 and as outlined in Exhibit B-4 shown on EXHIBIT A-1 attached to this Agreementhereto (the "MUST-TAKE SPACE"). The Premises shall be expanded Term with respect to include the Must-Take Space shall commence on May 1, 2005 (the "MUST-TAKE SPACE COMMENCEMENT DATE") and, unless terminated early in accordance with the Lease, end on the date (Termination Date, as determined in accordance with Section 3.01 of the Lease. The period commencing on the Must-Take Space Commencement Date and ending on the Termination Date is hereinafter referred to herein as the "MUST-TAKE SPACE TERM". Effective as of the Must-Take Space Commencement Date”) that is the earlier of (A) the date upon which Tenant first commences to conduct business in the Must-Take Space, and (B) the date that is ninety (90) days after the Must-Take Space Early Occupancy Date (as defined below). Tenant shall be permitted deemed to enter into the Must-Take Space on the Must-Take Space Early Occupancy Date without the obligation for payment of Rent for the purposes of installing its furniture, fixtures, cabling, files and equipment and improving the Must-Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”; and provided that (a) Tenant first provides Landlord with proof of insurance that is required by the terms be a part of the Lease, modified to apply Premises. Notwithstanding the foregoing to the Must-Take Spacecontrary, (b) all construction by Tenant shall be performed in accordance with the terms of the Lease and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord of Tenant’s schedule of early entry. Any access by Tenant or its agents to the Must-Take Space prior to the Must-Take Space Commencement Date shall be subject delayed to all the extent that Landlord fails to deliver possession of the terms and conditions of the LeaseMust-Take Space for any reason, except that the obligation to pay Rent shall including but not commence until limited to, holding over by prior occupants, in which event, the Must-Take Space Commencement DateDate shall instead be the date on which Landlord tenders delivery of the Must-Take Space to Tenant. However, and no such early access shall alter any delay in the Must-Take Space Commencement DateDate shall not subject Landlord to any liability for any loss or damage resulting therefrom. If the Must-Take Space Commencement Date is delayed, Without limiting any other provision of the Lease, except to Termination Date under the extent caused by the grossLease shall not be similarly extended.

Appears in 1 contract

Samples: Office Lease Agreement (Lightbridge Inc)

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Must Take Space. As used hereinIn the event that (i) Tenant exercises the Option Term pursuant to the terms of Section 6 of the First Amendment (as amended by Section 5.1 above), and (ii) that certain space in the term “Building containing approximately 10,353 rentable square feet and commonly known as Suite 200 (the "Must-Take Space” means approximately 4,789 square feet of rentable area ") is or will be available for lease to third parties at any time during the period commencing on September 1, 2017 and ending on November 30, 2018 (the "Must-Take Conditions"), and only in the Building commonly known event each of the Must-Take Conditions (i and ii) are satisfied, then Tenant hereby acknowledges that during the Option Term, as Suite 202 provided below, Tenant shall lease from Landlord and Landlord shall lease to Tenant the Must-Take Space effective as outlined in Exhibit B-4 attached of the "Must-Take Commencement Date" (as that term is defined below) pursuant to this Agreement. The the terms hereof, and the Premises shall be expanded to include the Must-Take Space on Space. In the date (event that the Must-Take Space Commencement Date”) is not or will not be available for lease to third parties at any time during the period commencing on September 1, 2017 and ending on November 30, 2018, then Landlord hereby acknowledges that is Tenant shall be entitled to exercise the earlier of Option Term pursuant to Section 5.1 above for the Premises only (A) i.e., without any obligation to lease the date upon which Tenant first commences to conduct business in Must-Take Space). In connection with the Must-Take Space, and (B) the date that is ninety (90) Landlord hereby agrees to deliver a prior 30 days after advance notice to Tenant before September 1, 2017 regarding whether the Must-Take Space Early Occupancy Date (as defined below). Tenant shall is then or will be permitted available for lease to enter into third parties at any time during the Must-Take Space period commencing on the Must-Take Space Early Occupancy Date without the obligation for payment of Rent for the purposes of installing its furnitureSeptember 1, fixtures2017 and ending on November 30, cabling, files and equipment and improving the Must-Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”; and provided that (a) Tenant first provides Landlord with proof of insurance that is required by the terms of the Lease, modified to apply to the Must-Take Space, (b) all construction by Tenant shall be performed in accordance with the terms of the Lease and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord of Tenant’s schedule of early entry. Any access by Tenant or its agents to the Must-Take Space prior to the Must-Take Space Commencement Date shall be subject to all of the terms and conditions of the Lease, except that the obligation to pay Rent shall not commence until the Must-Take Space Commencement Date, and no such early access shall alter the Must-Take Space Commencement Date, Without limiting any other provision of the Lease, except to the extent caused by the gross2018.

Appears in 1 contract

Samples: To Lease (Cardica Inc)

Must Take Space. As used herein, Tenant hereby agrees to add to the term “Must-Take Space” means Premises approximately 4,789 additional rentable square feet of rentable area in space located on the Building commonly known floor of the Project, which space is contiguous to the original Premises, as Suite 202 and as outlined in Exhibit B-4 attached to this Agreementsuch space is selected by Landlord (“Must Take Space”). The Premises effective date of Tenant’s lease of the Must Take Space shall be expanded to include a date selected by Landlord which is between the Must-first day of the ( ) month and last day of the ( ) month of the initial Term. Tenant’s lease of the Must Take Space shall be on the date same terms and conditions as affect the original Premises throughout the Term, including, without limitation, the same Basic Rental rate (per rentable square foot) as then applies to the “Must-Take Space Commencement Date”original Premises; provided, however, that (i) that is Tenant’s Proportionate Share shall be increased to take into account the earlier additional number of (A) rentable square feet of the date upon which Tenant first commences to conduct business in the Must-Must Take Space, and (Bii) the date that is ninety (90) days after the Must-Must Take Space Early Occupancy Date shall be leased to Tenant in its then “as is” condition (as defined belowi.e., Landlord shall not be required to construct any improvements in, or contribute any Tenant Improvement Allowance for, the Must Take Space). Landlord shall provide written notice (“Must Take Notice”) to Tenant shall be permitted at least six (6) months prior to enter into the Must-Take Space on the Must-Take Space Early Occupancy Date without the obligation for payment effective date of Rent for the purposes of installing its furniture, fixtures, cabling, files and equipment and improving the Must-Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”; and provided that (a) Tenant first provides Landlord with proof of insurance that is required by the terms Tenant’s lease of the Lease, modified to apply to the Must-Must Take Space, (b) all construction by Tenant which notice shall be performed in accordance with indicate the terms location and square footage of the Lease such space and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord anticipated effective date of Tenant’s schedule lease of early entrysuch space. Any access by The Term for the Must Take Space and Tenant’s obligation to pay rent with respect to the Must Take Space shall commence upon the date of delivery of the Must Take Space to Tenant and shall expire co-terminously with the Term for the original Premises. Landlord shall not be liable to Tenant or its agents otherwise be in default hereunder in the event that Landlord is unable to deliver the Must Take Space to Tenant on the projected delivery date thereof due to the Must-failure of any other tenant to timely vacate and surrender to Landlord such Must Take Space, or any portion thereof; provided, however, Landlord agrees to use its commercially reasonable efforts to enforce its right to possession of such Must Take Space prior against such other tenant. Promptly after Landlord’s delivery of the Must Take Notice to Tenant, Landlord and Tenant shall execute an amendment to this Lease adding the Must Take Space to the Must-Take Space Commencement Date shall be subject to all of Premises upon the terms and conditions of the Lease, except that the obligation to pay Rent shall not commence until the Must-Take Space Commencement Date, and no such early access shall alter the Must-Take Space Commencement Date, Without limiting any other provision of the Lease, except to the extent caused by the grossset forth in this Section 32(c).]

Appears in 1 contract

Samples: Transfer and Substitution of Indemnitor (Hudson Pacific Properties, Inc.)

Must Take Space. As used herein, Tenant hereby agrees to add to the term “Must-Take Space” means approximately 4,789 Premises the balance of the fourth (4th) floor of the Building stipulated by the parties hereto to contain 9,606 rentable (9207 usable) square feet of rentable area space ("MUST TAKE SPACE"). The effective date of Tenant's lease of the Must Take Space shall be the first day of the thirteenth (13th) month of the Lease Term ("MUST TAKE EFFECTIVE DATE") and Tenant shall not be obligated to pay any Basic Rent or Operating Expenses for the Must Take Space until the Must Take Effective Date. Notwithstanding anything above to the contrary, and upon at least twenty (20) days prior written notice to Landlord, Tenant may enter the Must Take Space three (3) months prior to the Must Take Effective Date in order to commence construction of the Tenant Improvements in the Building commonly known as Suite 202 and as outlined in Exhibit B-4 attached to this Agreement. The Premises shall be expanded to include the Must-Take Space on the date (the “Must-Take Space Commencement Date”) that is the earlier of (A) the date upon which Tenant first commences to conduct business in the Must-Take Space, and (B) the date that is ninety (90) days after the Must-Take Space Early Occupancy Date (as defined below). Tenant shall be permitted to enter into the Must-Take Space on the Must-Take Space Early Occupancy Date without the obligation for payment of Rent for the purposes of installing its furniture, fixtures, cabling, files and equipment and improving the Must-Must Take Space in accordance with the Tenant Work Letter attached hereto as Exhibit “K”Section 12.5; and provided provided, however, that (a) Tenant first provides Landlord with proof of insurance that is required by the terms of the Lease, modified to apply to the Must-Take Space, (b) all construction by Tenant shall be performed in accordance with the terms of the Lease and the Tenant Work Letter attached hereto as Exhibit “K”, and (c) Tenant has notified Landlord of Tenant’s schedule of such early entry. Any access by Tenant or its agents to the Must-Take Space prior to the Must-Take Space Commencement Date entry shall be subject to all of the terms and conditions provisions of the Lease, this Lease (except that for the obligation to pay rent, unless Tenant commences business operations from the Must Take Space, in which event Tenant's obligation to pay rent shall commence on such date), and such reasonable rules and procedures promulgated by Landlord; provided further, that without limiting the generality of the foregoing, Landlord shall not be responsible for and Tenant is required to obtain insurance covering, any loss, including theft, damage or destruction to any work or material installed or stored by Tenant or Landlord, or any contractor or individual involved in the completion of the Tenant Improvements into the Must Take Space, or for any injury to Tenant or Tenant's employees, invitees, licensees or Tenant's Agents (as such term is defined in Section 12.5 hereof) and provided further that Landlord shall have the right to post the appropriate notices of non-responsibility and to require Tenant to provide Landlord with evidence that Tenant has fulfilled its obligation to provide insurance pursuant to Section 20 of this Lease. Tenant's lease of the Must Take Space shall be on the same terms and conditions as affect the original Premises throughout the Lease Term, including, without limitation, the same Base Year (1997), and, on a per rentable square foot basis, the same Monthly Basic Rent, which Monthly Basic Rent shall not commence until increase, on each annual anniversary of the Must-Take Space Commencement Date, and no such early access by the same per rentable square foot increase as the Monthly Basic Rent for the initial Premises (four percent (4%)). On the Must Take Effective Date, Tenant's Percentage shall alter be increased to take into account the Must-addition of the number of rentable square feet of the Must Take Space Commencement Dateto the Premises. Tenant acknowledges and agrees that the Must Take Space shall be leased to Tenant in its "as is" condition (as of the date hereof). The Lease Term for the Must Take Space shall expire coterminously with the Lease Term for the initial Premises. Notwithstanding anything above to the contrary, Without limiting Landlord shall not be liable to Tenant or otherwise be in default hereunder in the event that Landlord is unable to deliver the Must Take Space to Tenant on the projected delivery date thereof due to the failure of any other provision tenant to timely vacate and surrender to Landlord such Must Take Space, or any portion thereof; provided, however, Landlord agrees to use its commercially reasonable efforts to enforce its right to possession of such Must Take Space against such other tenant. Promptly after Landlord's delivery of the LeaseMust Take Space to Tenant, except Landlord and Tenant shall execute an amendment to this Lease adding the Must Take Space to the extent caused Premises upon the terms and conditions set forth in this Section 1.4. The construction of any improvements by Tenant in the grossMust Take Space shall be in accordance with Section 12.5 of this Lease and Landlord shall, in accordance with Section 12.5 hereof, provide Tenant with an improvement allowance in an amount up to Six Dollars ($6.00) per usable square foot of the Must Take Space for the costs relating to the design and construction of the initial improvements in the Must Take Space, the disbursement of which improvement allowance shall be in strict accordance with Section 12.5 hereof.

Appears in 1 contract

Samples: Office Lease (Maxwell Laboratories Inc /De/)

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