Common use of OCCUPANCY LEVEL Clause in Contracts

OCCUPANCY LEVEL. Landlord and Tenant acknowledge and agree that the Premises (as amended hereby) is designed for a maximum occupancy level of persons. Tenant therefore covenants and agrees that the number of persons occupying the Premises shall not exceed 287 persons or less, as may be required by applicable Law (the “Maximum Occupancy”), as of the applicable date the Premises are expanded by the terms of this First Amendment. If Landlord at any time reasonably determines that the Premises is being occupied in excess of the Maximum Occupancy on a day-to day basis, Landlord shall notify Tenant and Tenant shall have five business days to either (a) reduce the occupancy level to the Maximum Occupancy or less, or (b) notify Landlord of Tenant’s desire to lease additional space in the Building or elsewhere in the Property. If Landlord does not receive notice of Tenant’s desire to lease additional space in the Building or the Property within five business days after the date of Landlord’s notice of the violation of the maximum occupancy provision set forth in this Section 13, and if the Premises occupancy level remains in excess of the maximum allocation as of the fifth business day following the date of Landlord’s notice, such occupancy will automatically be deemed to be an Event of Default by Tenant and Landlord shall be entitled to exercise any and all remedies set forth in the Lease or at law or in equity by reason of such Event of Default. If Tenant selects option (b) above, subject to the availability of space in the Building or the Property, the parties shall in good faith negotiate a proposal to expand the Premises; the rent payable for such expansion space will be calculated using a Fair Market Rental Rate (as defined below), the maximum occupancy level of the expansion space will be 6.5 occupants per 1000 square feet, and the amount of parking made available at no additional cost to Tenant with respect to the expansion space shall be 5 parking spaces per 1000 square feet. If no space will be available in the Building or elsewhere in the Property within 30 days after Landlord’s receipt of Tenant’s request to lease additional space, or if Landlord and Tenant have not reached an agreement with respect to any available expansion space within 30 days after Landlord’s receipt of Tenant’s request to lease additional space, Tenant shall have an additional five days after such 30-day period to reduce the occupancy level of the Premises to the required maximum. Should Tenant fail to reduce the occupancy level within said additional five-day period, such occupancy will automatically be deemed to be an Event of Default by Tenant and Landlord shall be entitled to exercise any and all remedies set forth in the Lease or at law or in equity by reason of such default. For purposes hereof, Fair Market Rental Rate means an annual amount per square foot, projected for remainder of the Term (including annual adjustments), that a willing, non-equity tenant (excluding sublease and assignment transactions) would pay, and a willing landlord of a comparable quality building located in the Denver Southeast Suburban area would accept, in an arm’s length transaction (what Landlord is accepting in then current transactions for the Building may be used for purposes of projecting rent for the Term), for space of comparable size, quality and floor height as the Premises, taking into account the age, quality and layout of the existing improvements in the Premises, and taking into account items that professional real estate brokers or professional real estate appraisers customarily consider, including, but not limited to, rental rates, space availability, tenant size, tenant improvement allowances, parking charges and any other lease considerations, if any, then being charged or granted by Landlord or the lessors of such similar buildings (the “Fair Market Rental Rate”).

OCCUPANCY LEVEL. Landlord and Tenant acknowledge and agree that based upon the Tenant's intended space plan for the Leased Premises, the Leased Premises (as amended hereby) is designed for a maximum occupancy level of personsone (1) person per 200 square feet. Tenant therefore covenants and agrees that the number of persons occupying the Leased Premises shall not exceed 287 persons or less, as may be required by applicable Law one (the “Maximum Occupancy”), as of the applicable date the Premises are expanded by the terms of this First Amendment1) person per 200 square feet. If Landlord at any time reasonably determines that more than one (1) person per 200 square feet occupy the Leased Premises is being occupied in excess of the Maximum Occupancy on a day-to day basis, Landlord shall notify Tenant and Tenant shall have five ten (10) business days to either (a) reduce the occupancy level to the Maximum Occupancy one (1) person per 200 square feet or less, less or (b) notify Landlord of Tenant’s desire to lease additional space in the Building or elsewhere in the Property. If Landlord does not receive notice of Tenant’s 's desire to lease additional space in the Building or the Property American General Center. If Landlord does not receive notice of Tenant's desire to lease additional space in the Building or the American General Center within five ten (10) business days after the date of Landlord’s 's notice of the violation of the this maximum occupancy provision set forth in this Section 13provision, and if the Leased Premises occupancy level remains in excess of the maximum allocation as of the fifth tenth (10th) business day following the date of Landlord’s 's notice, such occupancy will automatically be deemed to be an Event of Default by Tenant shall be deemed to have occurred and Landlord shall be entitled to exercise any and all remedies set forth in the this Lease or at law or in equity by reason of such Event of Defaultdefault. If Tenant selects option (b) above), subject to the availability of space in the Building or the PropertyAmerican General Center, the parties shall in good faith faith, negotiate a proposal to expand the Leased Premises; the rent payable for such expansion space will be calculated using a Fair Market Rental Rate (as defined below), the maximum occupancy level of the expansion space will be 6.5 occupants per 1000 square feet, and the amount of parking made available at no additional cost to Tenant with respect to the expansion space shall be 5 parking spaces per 1000 square feet. If no space will be available in the Building or elsewhere in the Property American General Center within 30 ninety (90) days after Landlord’s 's receipt of Tenant’s 's request to lease additional space, or if Landlord and Tenant have not reached an agreement with respect to any available expansion space within 30 thirty (30) days after Landlord’s 's receipt of Tenant’s 's request to lease additional space, Tenant shall have an additional five ten (10) days after such 30-day period to reduce the occupancy level of the Leased Premises to the required maximum. Should Tenant fail to reduce the occupancy level within said additional five-ten (10) day period, such occupancy will automatically be deemed to be an Event of Default by Tenant shall be deemed to have occurred and Landlord shall be entitled to exercise any and all remedies set forth in the this Lease or at law or in equity by reason of such default. For purposes hereof, Fair Market Rental Rate means an annual amount per square foot, projected for remainder of the Term (including annual adjustments), that a willing, non-equity tenant (excluding sublease and assignment transactions) would pay, and a willing landlord of a comparable quality building located in the Denver Southeast Suburban area would accept, in an arm’s length transaction (what Landlord is accepting in then current transactions for the Building may be used for purposes of projecting rent for the Term), for space of comparable size, quality and floor height as the Premises, taking into account the age, quality and layout of the existing improvements in the Premises, and taking into account items that professional real estate brokers or professional real estate appraisers customarily consider, including, but not limited to, rental rates, space availability, tenant size, tenant improvement allowances, parking charges and any other lease considerations, if any, then being charged or granted by Landlord or the lessors of such similar buildings (the “Fair Market Rental Rate”).

OCCUPANCY LEVEL. Landlord and Without in any way increasing Landlord's obligations to provide parking in the amount to be provided to Tenant acknowledge and agree that the Premises (as amended hereby) is designed for a maximum occupancy level of persons. provided in this Lease, Tenant therefore covenants and agrees that the number of persons occupying the Premises shall not exceed 287 persons or less, as may be required by applicable Law one hundred ninety-five (the “Maximum Occupancy”), as of the applicable date the Premises are expanded by the terms of this First Amendment195) persons. If Landlord at any time reasonably determines that more than one hundred ninety-five (195) persons occupy the Premises is being occupied in excess of the Maximum Occupancy on a day-to day basis, Landlord shall notify Tenant and Tenant shall have five business thirty (30) days after receipt of Landlord's notice to either (a) reduce the occupancy level to the Maximum Occupancy one hundred ninety-five (195) persons or less, less or (b) notify Landlord of Tenant’s 's desire to lease additional space in the Building or elsewhere in the PropertyProject. If Landlord does not receive notice of Tenant’s 's desire to lease additional space in the Building or the Property Project within five business thirty (30) days after the date of receipt of Landlord’s 's notice of the violation of the maximum occupancy provision set forth in this Section 13provision, and if the Premises occupancy level remains in excess of the maximum allocation as of the fifth business thirtieth (30th) day following the date of receipt of Landlord’s 's notice, such occupancy will Tenant shall automatically be deemed to be an Event in default of Default by Tenant this Lease and Landlord shall be entitled to exercise any and all remedies set forth in the this Lease or at law or in equity by reason of such Event of Defaultdefault. If Tenant selects option (b) above), subject to the availability of space in the Building or the PropertyProject, the parties shall in good faith faith, negotiate a proposal to expand the Premises; the rent payable for such expansion space will be calculated using a Fair Market Rental Rate (as defined below), the maximum occupancy level of the expansion space will be 6.5 occupants per 1000 square feet, and the amount of parking made available at no additional cost to Tenant with respect to the expansion space shall be 5 parking spaces per 1000 square feet. If no space will be available in the Building or elsewhere in the Property Project within 30 ninety (90) days after Landlord’s 's receipt of Tenant’s 's request to lease additional space, or if Landlord and Tenant have not reached an agreement with respect to any available expansion space within 30 thirty (30) days after Landlord’s 's receipt of Tenant’s 's request to lease additional space, Tenant shall have an additional five twenty (20) days after such 30-day period to reduce the occupancy level of the Premises to the required maximum. Should Tenant fail to reduce the occupancy level within said additional five-twenty (20) day period, such occupancy will Tenant shall automatically be deemed to be an Event in default of Default by Tenant this Lease and Landlord shall be entitled to exercise any and all remedies set forth in the this Lease or at law or in equity by reason of such default. For purposes hereof, Fair Market Rental Rate means an annual amount per square foot, projected for remainder of the Term (including annual adjustments), that a willing, non-equity tenant (excluding sublease and assignment transactions) would pay, and a willing landlord of a comparable quality building located in the Denver Southeast Suburban area would accept, in an arm’s length transaction (what Landlord is accepting in then current transactions for the Building may be used for purposes of projecting rent for the Term), for space of comparable size, quality and floor height as the Premises, taking into account the age, quality and layout of the existing improvements in the Premises, and taking into account items that professional real estate brokers or professional real estate appraisers customarily consider, including, but not limited to, rental rates, space availability, tenant size, tenant improvement allowances, parking charges and any other lease considerations, if any, then being charged or granted by Landlord or the lessors of such similar buildings (the “Fair Market Rental Rate”).

OCCUPANCY LEVEL. Landlord and Tenant acknowledge and agree that the Premises (as amended hereby) is designed for a maximum occupancy level of personsfour (4) persons per one thousand (1,000) rentable square feet of space comprising the Premises (the “Occupancy Threshold”). Tenant therefore covenants and agrees that the number of persons occupying the Premises shall not exceed 287 persons or less, as may be required by applicable Law (the “Maximum Occupancy”), as Occupancy Threshold at any given time during any day of the applicable date week. Tenant acknowledges further that Tenant’s parking privileges hereunder are expressly limited to the Premises are expanded by parking spaces specified in the terms Parking Agreement attached hereto as Exhibit E and Tenant shall limit the occupancy of this First Amendmentthe Building so as to not utilize more than the number of parking spaces permitted in the Parking Agreement, unless Tenant implements measures reasonably satisfactory to Landlord (e.g., securing additional offsite parking, carpooling or rotational shifts) to ensure that Tenant does not utilize more than its allotted parking spaces under the Parking Agreement. If Landlord at any time reasonably determines (in its reasonable but sole discretion) that the Premises Occupancy Threshold is being occupied in excess of the Maximum Occupancy exceeded on a day-to to-day basis or that the parking spaces are being exceeded on a day-to-day basis, Landlord shall notify Tenant and Tenant shall have five 10 business days to either (a) reduce the occupancy level to below the Maximum Occupancy or less, or Threshold (b) notify Landlord of Tenant’s desire to lease additional space as respects occupancy in the Building Premises) or elsewhere in reduce the Propertynumber of parking spaces being used (as respects parking usage). If Landlord does not receive notice of Tenant’s desire to lease additional space in the Building or the Property within five business days after the date of Landlord’s notice of the violation of the maximum occupancy provision set forth in this Section 13, and if the Premises occupancy level remains in excess of the maximum allocation Occupancy Threshold (as respects occupancy) or remains in excess of the permitted parking spaces as of the fifth 10th business day following the date of Landlord’s notice, such occupancy will Tenant shall automatically be deemed to be an Event in default of Default by Tenant this Lease and Landlord shall be entitled to exercise any and all remedies set forth in the Lease or at law or in equity by reason of such Event of Default. If Tenant selects option (b) above, subject to the availability of space in the Building or the Property, the parties shall in good faith negotiate a proposal to expand the Premises; the rent payable for such expansion space will be calculated using a Fair Market Rental Rate (as defined below), the maximum occupancy level of the expansion space will be 6.5 occupants per 1000 square feet, and the amount of parking made available at no additional cost to Tenant with respect to the expansion space shall be 5 parking spaces per 1000 square feet. If no space will be available in the Building or elsewhere in the Property within 30 days after Landlord’s receipt of Tenant’s request to lease additional space, or if Landlord and Tenant have not reached an agreement with respect to any available expansion space within 30 days after Landlord’s receipt of Tenant’s request to lease additional space, Tenant shall have an additional five days after such 30-day period to reduce the occupancy level of the Premises to the required maximum. Should Tenant fail to reduce the occupancy level within said additional five-day period, such occupancy will automatically be deemed to be an Event of Default by Tenant and Landlord shall be entitled to exercise any and all remedies set forth in the this Lease or at law or in equity by reason of such default. For purposes hereof, Fair Market Rental Rate means an annual amount per square foot, projected for remainder of the Term (including annual adjustments), that a willing, non-equity tenant (excluding sublease and assignment transactions) would pay, and a willing landlord of a comparable quality building located in the Denver Southeast Suburban area would accept, in an arm’s length transaction (what Landlord is accepting in then current transactions Tenant shall be solely responsible for the Building may fees, costs and expenses for any and all improvements, alterations or additions required to be used for purposes of projecting rent for the Term), for space of comparable size, quality and floor height as made by any governmental authority or other third party to the Premises, taking into account the ageBuilding, quality and layout the Common Areas and/or the Project resulting from any use of the existing improvements Premises by Tenant in excess of the PremisesOccupancy Threshold regardless of when imposed by any such party and regardless of whether or not the improvement, and taking into account items that professional real estate brokers alteration or professional real estate appraisers customarily consideraddition is of a capital nature (hereinafter, including, but not limited to, rental rates, space availability, tenant size, tenant improvement allowances, parking charges and any other lease considerations, if any, then being charged or granted by Landlord or the lessors of such similar buildings (the an “Fair Market Rental RateAdditional Occupancy Cost”). Tenant shall reimburse Landlord within 20 days of written demand for any Additional Occupancy Cost.

OCCUPANCY LEVEL. Landlord and Tenant acknowledge and agree that based upon the space plan attached to Exhibit "C", the Premises (as amended hereby) is designed for a maximum occupancy level of one hundred nine (109) persons. Tenant therefore covenants and agrees that the number of persons occupying the Premises shall not exceed 287 persons or less, as may be required by applicable Law one hundred nine (the “Maximum Occupancy”), as of the applicable date the Premises are expanded by the terms of this First Amendment109) persons. If Landlord at any time reasonably determines that more than one hundred nine (109) persons occupy the Premises is being occupied in excess of the Maximum Occupancy on a day-to day basis, Landlord shall notify Tenant and Tenant shall have five ten (10) business days to either (a) reduce the occupancy level to the Maximum Occupancy one hundred nine (109) persons or less, less or (b) notify Landlord of Tenant’s 's desire to lease additional space in the Building or elsewhere in the PropertyProject. If Landlord does not receive notice of Tenant’s 's desire to lease additional space in the Building or the Property Project within five ten (10) business days after the date of Landlord’s 's notice of the violation of the maximum occupancy provision set forth in this Section 13provision, and if the Premises occupancy level remains in excess of the maximum allocation as of the fifth tenth (10th) business day following the date of Landlord’s 's notice, such occupancy will Tenant shall automatically be deemed to be an Event in default of Default by Tenant this Lease and Landlord shall be entitled to exercise any and all remedies set forth in the this Lease or at law or in equity by reason of such Event of Defaultdefault. If Tenant selects option (b) above), subject to the availability of space in the Building or the PropertyProject, the parties shall in good faith faith, negotiate a proposal to expand the Premises; the rent payable for such expansion space will be calculated using a Fair Market Rental Rate (as defined below), the maximum occupancy level of the expansion space will be 6.5 occupants per 1000 square feet, and the amount of parking made available at no additional cost to Tenant with respect to the expansion space shall be 5 parking spaces per 1000 square feet. If no space will be available in the Building or elsewhere in the Property Project within 30 ninety (90) days after Landlord’s 's receipt of Tenant’s 's request to lease additional space, or if Landlord and Tenant have not reached an agreement with respect to any available expansion space within 30 thirty (30) days after Landlord’s 's receipt of Tenant’s 's request to lease additional space, Tenant shall have an additional five ten (10) days after such 30-day period to reduce the occupancy level of the Premises to the required maximum. Should Tenant fail to reduce the occupancy level within said additional five-ten (10) day period, such occupancy will Tenant shall automatically be deemed to be an Event in default of Default by Tenant this Lease and Landlord shall be entitled to exercise any and all remedies set forth in the this Lease or at law or in equity by reason of such default. For purposes hereof, Fair Market Rental Rate means an annual amount per square foot, projected for remainder of the Term (including annual adjustments), that a willing, non-equity tenant (excluding sublease and assignment transactions) would pay, and a willing landlord of a comparable quality building located in the Denver Southeast Suburban area would accept, in an arm’s length transaction (what Landlord is accepting in then current transactions for the Building may be used for purposes of projecting rent for the Term), for space of comparable size, quality and floor height as the Premises, taking into account the age, quality and layout of the existing improvements in the Premises, and taking into account items that professional real estate brokers or professional real estate appraisers customarily consider, including, but not limited to, rental rates, space availability, tenant size, tenant improvement allowances, parking charges and any other lease considerations, if any, then being charged or granted by Landlord or the lessors of such similar buildings (the “Fair Market Rental Rate”).