of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth (12th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above), 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, and such square footage is not subject to adjustment or remeasurement by Landlord or Tenant, even if the actual square footage of the Premises or the Project is more or less than set forth in those sections. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “C”, which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute acknowledgment by Tenant that the statements included in such notice are true and correct, without exception.
Appears in 2 contracts
Samples: Standard Office Lease (loanDepot, Inc.), Standard Office Lease (loanDepot, Inc.)
of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12th11th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not is unable to deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above)Date, 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain contains the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, Provisions and such square footage that the same is not subject to adjustment or remeasurement by Landlord or nor Tenant, even if the actual square footage of the Premises or the Project is more or less than set forth in those sections. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “C”, which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, without exception. Notwithstanding anything to the contrary contained herein, Tenant shall have the right to enter the Premises during the period (the “Early Entry Period”) from January 23, 2006 until the Commencement Date for purposes of installing telephone and data cabling in the Premises, provided that (a) Tenant shall arrange a mutually acceptable schedule with Landlord and Landlord’s contractor in order to coordinate the timing of Tenant’s entry with Landlord’s Work, (b) Tenant shall provide Landlord with evidence of the insurance required hereunder, and (c) all of the terms and conditions of this Lease shall apply during the Early Entry Period (if any), except that Tenant’s obligation to pay monthly Basic Rental and any Direct Costs shall not apply during the Early Entry Period. In the event Landlord is unable to provide Tenant with access to the Premises by January 23, 2006 (as such January 23, 2006 date may be extended due to Force Majeure delays) then Tenant shall have the right to terminate this Lease upon written notice to Landlord. Upon such termination, the parties shall be relieved of all obligations hereunder except for those obligations which expressly survive the expiration or sooner termination of this Lease.
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of the Basic Lease Provisions. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the TermLease term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12th11th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession Notwithstanding anything to the contrary contained herein, if the substantial completion of the Premises Tenant Improvements to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above), 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, and such square footage is not subject to adjustment or remeasurement performed by Landlord or Tenant, even if pursuant to the actual square footage of the Premises or the Project is more or less than set forth in those sections. Landlord may deliver to Tenant a Commencement Work Letter in a form substantially similar to that Agreement attached hereto as Exhibit “C”"D" has not occurred on or before August 1, which 1999 (the "Deadline Date"), Tenant shall execute have the right to terminate this Lease by notifying Landlord in writing of such election at any time prior to said substantial completion. In the event of any such termination, neither party shall have any further rights, obligations or liabilities hereunder from and after the effective date of such termination and Landlord shall promptly return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute acknowledgment any monies paid by Tenant that the statements included in such notice are true and correctTenant, including, without exceptionlimitation, the anticipated first month's rent and the security deposit to Tenant. The Deadline Date shall be extended for any delays in the substantial completion of the Tenant Improvements caused by a Tenant Delay (defined in the Work Letter Agreement), force majeure event or governmental delay, provided that in no event shall any force majeure event or governmental delay extend the Deadline Date by more than ninety (90) days.
Appears in 1 contract
Samples: Standard Office Lease (Netzero Inc)
of the Basic Lease Provisions. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12th11th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not is unable to deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above)Date, 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, and such square footage is not subject to adjustment or remeasurement by Landlord or Tenant, even if the actual square footage of the Premises or the Project is more or less than set forth in those sections. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “"C”", which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, correct without exception.
Appears in 1 contract
of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth (12th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above), 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, and such square footage is not subject to adjustment or remeasurement by Landlord or Tenant, even if the actual square footage of the Premises or the Project is more or less than set forth in those sections. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “"C”", which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, without exception. Tenant and its employees, agents, contractors and subcontractors may enter into the warehouse portion of the Premises as of January 1, 2008 and the office portion of the Premises as of January 15, 2008, upon receipt of Landlord's consent, solely for the purpose of installing furniture, trade fixtures, telephones, computers, photocopy equipment, and other business equipment. Such early entry will not advance the Commencement Date so long as Tenant does not commence business operations from any part of the Premises. All of the provisions of this Lease shall apply to Tenant during any early entry, including, without limitation, the indemnities set forth in this Lease, but excluding the obligation to pay Basic Rental only unless and until Tenant has commenced business operations in the Premises (or the Commencement Date has otherwise occurred), whereupon Tenant's Basic Rental payment obligations shall immediately commence. If Tenant is granted early entry, Landlord shall not be responsible for any loss, including theft, damage or destruction to any work or material installed or stored by Tenant at the Premises or for any injury to Tenant or its agents, employees, contractors, subcontractors, subtenants, subtenants, assigns, licensees or invitees. Landlord shall have the right to post 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 the provisions of this Lease. Tenant shall have the non-exclusive right to use in common with other tenants in the Project a portion of the Project's lobby area approved by Landlord as Tenant's reception area and, in connection therewith, Tenant shall have the right to install and operate a reception desk (approved by Landlord), subject to Landlord's rules and regulations. In no event shall Tenant be permitted to permanently affix its reception desk to the lobby area. Upon the expiration or earlier termination of this Lease, Tenant shall remove all of its personal property from the Project's lobby area and repair any damage to the Project caused thereby. Tenant's failure to remove its personal property from the lobby area by the Expiration Date of the Term shall constitute a holding over under this Lease and the terms of Article 5 below shall apply with respect thereto.
Appears in 1 contract
of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st1st ) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12th11th) month after the Commencement Date and the second (2nd2 nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession of the Premises to Tenant on or before the anticipated estimated Commencement Date (as set forth in Article 1.A, above), 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain contains the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, except that the rentable and such usable square footage is not subject to adjustment or remeasurement by Landlord or Tenant, even if the actual square footage feet of the Premises or and the Project is more or less than are subject to verification from time to time by Landlord’s architect/space planner. In the event that Landlord’s architect/space planner determines that the amounts thereof shall be different from those set forth in those sectionsthis Lease, all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect amount (including, without limitation, the amount of the Basic Rental, Tenant’s Proportionate Share [ADD IF APPLICABLE: , and the “Improvement Allowance”, as that term is defined in Section 2 of the Tenant Work Letter)] shall be modified in accordance with such determination. If such determination is made, it will be confirmed in writing by Landlord to Tenant. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “C”, which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute acknowledgment by Tenant that the statements included in such notice are true and correct, without exception.
Appears in 1 contract
Samples: Reaffirmation, Consent to Transfer and Substitution of Indemnitor (Hudson Pacific Properties, Inc.)
of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12th11th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above), 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain contains the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, and such square footage is not subject to adjustment or remeasurement by Landlord or Tenant, even provided that if the actual square footage Substantial Completion of the Premises Tenant Improvements has not occurred by August 31, 2004 (the “Deadline Date”), Tenant shall have the right to terminate this Lease. The Deadline Date shall be extended by delays in the Substantial Completion of the Tenant Improvements resulting from Tenant Delays or the Project is more or less than set forth in those sectionsForce Majeure events. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “”C”, which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, without exception.
Appears in 1 contract
Samples: Standard Office Lease (Alliance Bancshares California)
of the Basic Lease Provisions. If Landlord is unable to deliver possession of the Premises to Tenant by the Commencement Date specified in Item 1.4 of the Basic Lease Provisions, for any reason (other than a delay which is attributable to any act or omission of Tenant, in which event the Lease Term shall be deemed to have commenced on the date specified in Item 1.4 of the Basic Lease Provisions), the Lease Term shall not commence until possession of the Premises is delivered to Tenant. For the purposes of this LeaseParagraph 3.2, delivery of possession of the Premises to Tenant shall be deemed to occur on January 15, 2000, so long as construction of the Base Building Improvements has been "Substantially Completed" (as defined in the Work Letter Agreement) as of such date. If construction of the Base Building Improvements have not been Substantially Completed by January 15, 2000, the term “Lease Year” delivery of possession of the Premises shall mean each consecutive twelve (12) month period during the Term, with the first (1st) Lease Year commencing occur on the Commencement Date; however, date of "Substantial Completion" (aas defined in the Work Letter Agreement) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth (12th) month after Base Building Improvements. If Landlord or Tenant so desire, Landlord and Tenant shall execute a Lease Addendum in the form attached to this Lease as Exhibit E, confirming the actual Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day Termination Date of the next calendar month, and (b) Lease Term. Landlord shall not be liable for any damage caused by any delay in delivery of the last Lease Year shall end on the Expiration DatePremises to Tenant. If Landlord does not deliver possession of the Premises to Tenant on or before by the anticipated Commencement Date (as set forth in Article 1.A, above), 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain the number of square feet date specified in Article 1.B. and 1.E, respectively, Item 1.4 of the Basic Lease ProvisionsProvisions (unless the delay in delivering possession by such date is caused by "Tenant Delays", as defined herein and such square footage is in the attached Work Letter Agreement), Tenant shall not subject to adjustment or remeasurement by be liable for rent until Landlord or Tenant, even if the actual square footage delivers possession of the Premises or to Tenant, and the Project is more or less than set forth Lease Term shall be extended for a period of time equal to the period of such delay; provided, however, that (i) if the Base Building Improvements are not Substantially Completed within ninety (90) days following the date specified in those sections. Landlord may deliver to Item 1.4 of the Basic Lease Provisions (such ninety (90) day period shall be extended day for day for any "Tenant a Commencement Delays", as defined herein and in the attached Work Letter in a form substantially similar to that attached hereto as Exhibit “C”Agreement), which Tenant shall execute and return have the right to terminate this Lease by giving written notice to Landlord at any time after lapse of said ninety (90) day period, unless Landlord has Substantially Completed the Base Building Improvements before Tenant gives such notice to Landlord; and (ii) if the Base Building Improvements are not Substantially Completed within five thirty (530) days following the date specified in Item 1.4 of receipt thereofthe Basic Lease Provisions (such thirty (30) day period shall be extended day for day for any "Tenant Delays", as defined herein and in the attached Work Letter Agreement), then Landlord shall pay to Tenant, as liquidated damages for such delay, the amount of One Thousand Dollars ($1,000.00) per day for each day following the end of such thirty (30) day period until the Base Building Improvements are Substantially Completed. Failure Tenant shall not be liable for rent until Landlord delivers possession of Tenant the Premises to timely execute Tenant, and deliver the Commencement Letter Lease Term shall constitute acknowledgment by Tenant that be extended for a period of time equal to the statements included period of such delay. If the Lease Term commences on a day other than the first day of a calendar month, the Lease Term shall end on the last day of the calendar month in such notice are true and correct, without exceptionwhich said Lease Term would otherwise end.
Appears in 1 contract
Samples: Single Tenant Industrial Lease (Homegrocer Com Inc)
of the Basic Lease Provisions. For purposes of this Lease, the term “"Lease Year” " shall mean each consecutive twelve (12) month period during the Lease Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12th11th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not is unable to deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above)Date, 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 nor the obligations of Tenant hereunder. Notwithstanding the foregoing, if Landlord and Tenant hereby stipulate that the Premises and the Project contain the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, and such square footage is not subject unable to adjustment or remeasurement by Landlord or Tenant, even if the actual square footage deliver possession of the Premises or to Tenant within 120 days (subject to extension for force majeure events and Tenant Delays as defined in the Project is more or less than set forth Tenant Work Letter attached hereto) of the scheduled Commencement Date (the "Outside Delivery Date"), Tenant may terminate the Lease by written notice delivered to Landlord within ten days after the Outside Delivery Date, in those sectionswhich case neither Tenant nor Landlord shall have any obligations to each other arising from this Lease. If Tenant fails to provide timely the afore-mentioned notice, this Lease shall remain in full force and effect. Upon and after the date of Substantial Completion of the Tenant Improvements, Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “"C”", which Tenant shall execute and return to Landlord within five ten (510) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, correct without exception.
Appears in 1 contract
of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” "LEASE YEAR" shall mean each consecutive twelve (12) month period during the Lease Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12thllth) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.Al.A, above), 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain contains the number of square feet specified in Article 1.B. and 1.E, respectively, l.B. of the Basic Lease Provisions, except that the rentable and such usable square footage is not subject to adjustment or remeasurement by Landlord or Tenant, even if the actual square footage feet of the Premises or and the Project is more or less than are subject to verification from time to time by Landlord's architect/space planner. In the event that Landlord's architect/space planner determines that the amounts thereof shall be different from those set forth in those sectionsthis Lease, all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect amount (including, without limitation, the amount of the Basic Rental, Tenant's Proportionate Share, and the "Improvement Allowance", as that term is defined in Section 2 of the Tenant Work Letter) shall be modified in accordance with such determination. If such determination is made, it will be confirmed in writing by Landlord to Tenant. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “"C”", which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, without exception.
Appears in 1 contract
Samples: Standard Office Lease (Performance Capital Management LLC)
of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth (12th) full calendar month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st1 st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not timely deliver possession of the entire Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above)Tenant, 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 nor the obligations of Tenant hereunder, except as expressly provided in Section 4.5 of the Tenant Work Letter. Landlord and Tenant hereby stipulate that the Premises and the Project contain contains the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, and such square footage is not subject which has been determined pursuant to adjustment or remeasurement by Landlord or Tenant, even if the actual square footage of the Premises or the Project is more or less than set forth in those sectionsBOMA Standard. Landlord may shall deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “C”, which Tenant shall execute and return to Landlord within five ten (510) business days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute acknowledgment by Tenant that the statements included in such notice are true and correct, without exception.
Appears in 1 contract
Samples: Standard Office Lease
of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (ai) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12th11th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (bii) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A, above), 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 nor the obligations of Tenant hereunder. Landlord The number of rentable square feet and Tenant hereby stipulate that usable square feet of the Premises shall be determined in accordance with the rentable area and usable area standards set forth in ANSI Z65.1-1996 and accompanying guidelines, as promulgated by the Project contain the number of square feet specified in Article 1.B. Building Owners and 1.E, respectively, Managers Association (“BOMA Standard”). Within ninety (90) days after Landlord’s approval of the Basic Lease ProvisionsFinal Space Plan (as defined in Section 3.2 of the Tenant Work Letter), and such Landlord’s architect or space planner, in consultation with Tenant’s Architect (as defined in Section 3.1 of the Tenant Work Letter), will determine the rentable square footage is not subject to adjustment or remeasurement by Landlord or Tenant, even if the actual and usable square footage of the Premises or in accordance with the Project BOMA Standard and all figures in this Lease which vary based upon such square footage (including, without limitation, Basic Rental, Tenant’s Proportionate Share and the “Improvement Allowance,” as that term is more or less than set forth defined in those sectionsSection 2.1 of the Tenant Work Letter) shall be retroactively adjusted based upon such square footage figures. Landlord may deliver to Tenant a Any such adjustments shall be reflected in the Commencement Letter, which Commencement Letter shall be in a form substantially similar to that attached hereto as Exhibit “C”, and which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute acknowledgment by Tenant that the statements included in such notice are true and correct, without exception, including the number of rentable square feet and usable square feet of the Premises set forth therein.
Appears in 1 contract
Samples: Standard Office Lease (United Business Holdings, Inc)
of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth eleventh (12th11th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession of the Premises to Tenant on or before January 1, 2009 (the anticipated Commencement Date (as set forth in Article 1.A, above“Estimated Delivery Date”), 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 nor the obligations of Tenant hereunder; provided, however, the Commencement Date and the Expiration Date shall be delayed one (1) day for each one (1) day after the Estimated Delivery Date that occurs prior to the date that Landlord delivers possession of the Premises to Tenant. Landlord and Tenant hereby stipulate that the Seventh Floor Premises and the Project contain contains the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions. It is anticipated that the Sixth Floor Premises shall be approximately 3,000 rentable square feet; provided, however, Landlord and such Tenant shall each have the right, upon notice (the “Remeasurement Notice”) delivered to the other party within ninety (90) days following the date of this Lease, to measure the usable square footage is not subject to adjustment or remeasurement feet of the Sixth Floor Premises, which shall then be multiplied by the 19.00% load factor used by Landlord or Tenant, even if for the actual Building in order to determine the rentable square footage feet of the Premises Sixth Floor Premises. In the event that any measurement pursuant to the terms of this Section, all amounts, percentages and figures appearing or referred to in this Lease based upon an incorrect amount (including, without limitation, the Project is more amount of the Base Rent, Tenant’s Pro Rata Share, the Tenant Improvement Allowance, the Termination Fee, the number of parking spaces and any other item based upon the Premises’ or less than Building’s rentable square footage) shall be modified in accordance with such determination. If either party disagrees with the other party’s measurement and if a dispute occurs regarding the final accuracy of the measurement of any space, such dispute will be resolved pursuant to binding arbitration by (and in accordance with the rules of) the American Arbitration Association. In the event that Landlord’s architect/space planner determines that the amounts thereof shall be different from those set forth in those sectionsthis Lease, all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect amount (including, without limitation, the amount of the Basic Rental, Tenant’s Proportionate Share, the Termination Fee and the Tenant Improvement Allowance) shall be modified in accordance with such determination. If such determination is made, it will be confirmed in writing by Landlord to Tenant. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “C”, which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute acknowledgment by Tenant that the statements included in such notice are true and correct, without exception. Tenant may enter into the Premises upon the delivery of possession of the Premises to Tenant by Landlord for the purpose of installing the Tenant Improvements, the furniture, trade fixtures, telephones, computers, photocopy equipment, and other business equipment. Such early entry will not advance the Commencement Date. All of the provisions of this Lease shall apply to Tenant during any early entry, including, without limitation, the indemnities set forth in this Lease, but excluding the obligation to pay Basic Rental only. Landlord may revoke its permission for Tenant’s early entry if Tenant’s activities or workers interfere with the completion of the Landlord’s Work. If Tenant is granted early entry, Landlord shall not be responsible for any loss, including theft, damage or destruction to any work or material installed or stored by Tenant at the Premises or for any injury to Tenant or its agents, employees, contractors, subcontractors, subtenants, subtenants, assigns, licensees or invitees. Landlord shall have the right to post 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 the provisions of this Lease.
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of the Basic Lease Provisions. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term, with the first (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth (12th) eleventh 11th month after the Commencement Date and the second (2nd) 2nd and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Date. If Landlord does not deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.A1.A., above), 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 nor the obligations of Tenant hereunder. Landlord and Tenant hereby stipulate that the Premises and the Project contain contains the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, except that the rentable and such usable square footage is not subject to adjustment or remeasurement by Landlord or Tenant, even if the actual square footage feet of the Premises or and the Project is more or less than are subject to verification from time to time by Landlord’s architect/space planner. In the event that Landlord’s architect/space planner determines that the amounts thereof shall be different from those set forth in those sectionsthis Lease, all amounts, percentages and figures appearing or referred to in this Lease based upon such incorrect amount (including, without limitation, the amount of the Basic Rental, Tenant’s Proportionate Share, and the Improvement Allowance (as that term is defined in Section 2 of the Tenant Work Letter)) shall be modified in accordance with such determination. If such determination is made, it will be confirmed in writing by Landlord to Tenant. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “C”, which Tenant shall execute and return to Landlord within five (5) days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute an acknowledgment by Tenant that the statements included in such notice are true and correct, without exception. Notwithstanding the foregoing, Tenant may enter into the Premises approximately two (2) weeks prior to the anticipated date of Substantial Completion of the Improvements, upon receipt of Landlord’s consent, solely for the purpose of installing furniture, trade fixtures, telephones, computers, photocopy equipment, and other business equipment. Such early entry will not advance the Commencement Date so long as Tenant does not commence business operations from any part of the Premises. All of the provisions of this Lease shall apply to Tenant during any early entry, including, without limitation, the indemnities set forth in this Lease, but excluding the obligation to pay Basic Rental only unless and until Tenant has commenced business operations in the Premises (or the Commencement Date has otherwise occurred), whereupon Tenant’s Basic Rental payment obligations shall immediately commence. Landlord may revoke its permission for Tenant’s early entry if Tenant’s activities or workers interfere with the completion of the Improvements. If Tenant is granted early entry, Landlord shall not be responsible for any loss, including theft, damage or destruction to any work or material installed or stored by Tenant at the Premises or for any injury to Tenant or its agents, employees, contractors, subcontractors, subtenants, subtenants, assigns, licensees or invitees. Landlord shall have the right to post 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 the provisions of this Lease. Notwithstanding anything to the contrary contained herein, if the Substantial Completion of the Improvements to be performed by Landlord pursuant to the Tenant Work Letter attached hereto as Exhibit “D” has not occurred on or before November 30, 2006 (the “Deadline Date”), Tenant shall have the right to terminate this Lease by notifying Landlord in writing of such election by December 15, 2006. In the event Tenant fails to give such written notice within the period provided herein, then Tenant shall be conclusively deemed to have waived its right to terminate this Lease pursuant to this paragraph, and Tenant shall have no further right to terminate this Lease except as otherwise expressly provided elsewhere in this Lease. In the event of any termination of this Lease pursuant to this paragraph, neither party shall have any further rights, obligations or liabilities hereunder from and after the effective date of such termination. The Deadline Date shall be extended for any delays in the Substantial Completion of the Tenant Improvements caused by a Tenant Delay (defined in the Tenant Work Letter) or an event of Force Majeure (as such term is defined in Article 27).
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Samples: Standard Office Lease (Nexsan Corp)
of the Basic Lease Provisions. For purposes If this Lease is mutually executed and delivered by both Landlord and Tenant prior to January 1, 2021, then upon such execution and delivery of this LeaseLease by Tenant and Landlord, Tenant will have the term “right to access the entire Premises in order to design and construct the Improvements (as defined in Section 2.1 of the Tenant Work Letter). Such early access shall be subject to all the provisions of this Lease Year” (with specific reference to Tenant’s insurance and indemnity obligations hereunder and Tenant’s obligation to pay separately for electricity and janitorial services (but it being agreed that with respect to janitorial only and other than in connection with Tenant’s obligations to maintain and clean debris from the construction site as required pursuant to Exhibit D during construction of the Improvements – Tenant’s obligations shall mean each consecutive twelve (12commence upon Tenant’s entry into the Pod 4 Portion of the Premises and/or Pod 5 Portion of the Premises) month period to the Premises as set forth in Article 11) except that Tenant’s obligation to pay monthly Basic Rental and any Direct Costs shall not apply during the Term, period of such early access (other than as set forth in Article 1A. of the Basic Lease Provisions in connection with the first Pod 4 Portion Beneficial Occupancy Period (1st) Lease Year commencing on the Commencement Date; however, (a) if the Commencement Date falls on a day other than the first (1st) day of a calendar month, the first (1st) Lease Year shall end on the last day of the twelfth (12th) month after the Commencement Date and the second (2nd) and each succeeding Lease Year shall commence on the first (1st) day of the next calendar month, and (b) the last Lease Year shall end on the Expiration Dateany). If Landlord does not deliver possession of the Premises to Tenant on or before the anticipated Commencement Date (as set forth in Article 1.AJanuary 1, above)2021, 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 nor the obligations of Tenant hereunder; provided, however, in the event delivery of the Premises in the required condition does not occur by January 1, 2021 (the “Estimated Delivery Date”), as such date may be extended by any delays to the extent caused by Tenant or any of the Tenant Parties, then the sole remedy of Tenant shall be that each of the Pod 4 Portion Commencement Date and Pod 5 Portion Commencement Date shall be extended on a day-for-day basis for each day that delivery of the Premises occurs after the Estimated Delivery Date (as may be so extended). Landlord and Tenant hereby stipulate that the Project, Building, and Premises and the Project contain the number of square feet specified in Article 1.B. and 1.E, respectively, of the Basic Lease Provisions, Provisions and such square footage is agree that the same shall not be subject to adjustment or remeasurement by Landlord or Tenantduring the Term of this Lease, even if unless the actual square footage physical size of the Project, Building, or Premises or the Project is more or less than set forth in those sectionschanges. Landlord may deliver to Tenant a Commencement Letter in a form substantially similar to that attached hereto as Exhibit “C”, which Tenant shall execute and return to Landlord within five (5) business days of receipt thereof. Failure of Tenant to timely execute and deliver the Commencement Letter shall constitute acknowledgment by Tenant that the statements included in such notice are true and correct, without exception.
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Samples: Lease Agreement (Oncorus, Inc.)