Possession and Commencement Date. 4.1 Landlord shall use its reasonable efforts to deliver possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described in the work letter ("Work Letter") attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for the payment of any Rent (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suite. The work required of Landlord described in the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).
Appears in 2 contracts
Samples: Expansion Lease (Senomyx Inc), Letter Agreement (Senomyx Inc)
Possession and Commencement Date. 4.1 4.1. Landlord shall use its commercially reasonable efforts to deliver possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites Premises to Tenant (for the purposes of commencing the Tenant Improvements (as defined below)) on the date (the “Estimated Delivery Date”) that is forty-five (45) days after the Execution Date with the work required of Landlord described in the work letter ("Work Letter") attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for the payment of any Rent Condition Obligation (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suitesatisfied. The work required of Landlord described Tenant agrees that in the Work Letter shall be deemed substantially completed, as that term event the Condition Obligation is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified not satisfied on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received or before the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Estimated Delivery Date for Suites 160 Exp. any reason, then (a) this Lease shall not be void or voidable, (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and Suite 210 Exp., is delayed beyond (c) the Estimated Term Commencement Date shall be extended accordingly on a day-for-day basis. Notwithstanding the foregoing sentence, if the Condition Obligation is not satisfied by the date (“Outside Delivery Date”) that is one hundred twenty (120) days after the Execution Date (which date is subject to extension on a day-for-day basis due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings Force Majeure (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter includingbelow)), but the work that remains to be completed in order to satisfy the Condition Obligation (“Remaining Work”) will not limited toprevent or materially impede or materially interfere with Tenant’s performance of the Tenant Improvements, then Landlord shall have the right to tender possession of the Premises to Tenant's submittal , so long as Landlord diligently prosecutes the Remaining Work to completion and completes the Remaining Work as of or prior to Substantial Completion (as defined below) of the Tenant Improvements; provided, however, that if the Condition Obligation is not satisfied by the Outside Delivery Date and the Remaining Work will prevent or materially impede or materially interfere with Tenant’s performance of the Tenant Improvements, then Tenant shall have the right to deliver written notice to Landlord (a “Termination Notice”) stating that if the Remaining Work is not completed within thirty (30) days after delivery of such Termination Notice, then this Lease shall terminate, and if Landlord fails to complete the Remaining Work within such thirty (30)-day period, then this Lease shall terminate effective as of the Space Plan by date that is thirty (30) days after delivery of the dates provided Termination Notice. The “Delivery Date” shall be the day Landlord tenders possession of the Premises to Tenant in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Expaccordance with this Section., will remain as set forth in Section 2.1.7 (a).
Appears in 2 contracts
Samples: Lease (Biotime Inc), Lease (Asterias Biotherapeutics, Inc.)
Possession and Commencement Date. 4.1 4.1. Landlord shall use its reasonable efforts provide access to deliver possession of the Suites Premises to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Execution Date, provided that Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with acknowledges that the work required of Landlord described in to complete the work letter ("Work Letter") attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review core and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any shell of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for Building in accordance with the payment of any Rent (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suite. The work required of Landlord described in the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list the “Base Building Plans”) for the base building listed in Exhibit B-1 attached hereto (the “Landlord’s Work”) shall not be completed as of items that do not materially interfere with Tenant's use the Execution Date or the Actual Access Date (defined below). As of Suite 160 Exp. and Suite 210 Exp.)the Execution Date, Landlord has Substantially Completed (defined below) the portion of Landlord’s Work described in Section 1 of Exhibit B-4, and Landlord shall use commercially reasonable efforts to cause the portion of Landlord’s Work described in Section 2 of Exhibit B-4 (the “Interim Work”) to be Substantially Complete by May 1, 2014. Landlord’s Work is more particularly described in Exhibit B-6, provided that in the event of a conflict between Exhibit B-6 and the Base Building Plans, the Base Building Plans shall govern and control. The date on which Landlord Substantially Completes the Interim Work is the “Actual Access Date.” In the event that the Actual Access Date has received not occurred by May 1, 2014, then (a) this Lease shall not be void or voidable and (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, except that the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Rent Commencement Date shall be delayed by one (1) day for Suites 160 Exp. and Suite 210 Exp., is delayed beyond each day after the Estimated Term Commencement Date due that Tenant is unable to commence operating its business in the Premises solely as a result of Landlord’s failure to Substantially Complete the Interim Work on or before May 1, 2014 (provided that such day-for-day abatement of the Rent Commencement Date shall not exceed the number of days between May 1, 2014 and the Actual Access Date). Landlord may make revisions to the failure Base Building Plans from time to time, and any change to the Approved Plans required as a result of Tenant or Tenant's architect the revisions to timely review and approve the Construction Drawings Base Building Plans shall constitute a Change (as defined in Exhibit B-2 hereto (the “Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a”)).
Appears in 2 contracts
Samples: Lease (Spark Therapeutics, Inc.), Lease (Spark Therapeutics, Inc.)
Possession and Commencement Date. 4.1 4.1. Landlord shall use its exercise commercially reasonable efforts to deliver possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites Premises to Tenant on the Estimated Term Commencement Date, with the work required of Landlord described in the work letter ("Work Letter") Letter attached hereto (“Tenant Improvements”) Substantially Complete (as Exhibit "B"defined below), substantially completedand the Landlord shall cause the Premises to be delivered to Tenant in a vacant, clean and fully operable condition. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. in the event such Tenant Improvements are not later than Substantially Complete on or before the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates Date for any reason whatsoeverreason, then (a) this Lease shall not be void or voidable, (b) Landlord shall have no liability not be liable to Tenant for such failure but any loss or damage resulting therefrom, (c) the Term Expiration Date shall be extended accordingly and (d) Tenant shall not be responsible for the payment of any Rent (as defined below) applicable to the Suite to be delivered until one (1) month after the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suite. The work required (“Rent Commencement Date”); provided, however, if the satisfaction of Landlord described in the Work Letter requirements for Substantial Completion of Tenant Improvements have been delayed by any Tenant Delay, Substantial Completion of Tenant Improvements shall be deemed substantially completedto occur when (as reasonably determined by Landlord) Substantial Completion of Tenant Improvements would have occurred if such Tenant Delay had not occurred. The Tenant Improvements shall be deemed Substantially Completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially (y) completed all of Landlord's ’s work identified on Tenant's ’s plans so that the Premises are in vacant, clean and specifications fully operable condition (subject only to a punch list punchlist of items that do not materially interfere with Tenant's ’s use of Suite 160 Exp. the Premises) and Suite 210 Exp.)(z) received a temporary certificate of occupancy from the from the municipality(ies) in which the Property is located or a certificate of Substantial Completion from the architect, and has or would have received the temporary occupancy certificate from the City or certificate of San Diego, if required, and a substantial completion certificate from the architect Substantial Completion but for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the delays or failure of Tenant or Tenant's ’s architect to timely review and approve the Construction Drawings (as defined deliver items in the Work Letter) and/or review, approve and/or deliver any item in accordance with the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Expattached hereto. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).The term “
Appears in 2 contracts
Samples: Lease (Receptos, Inc.), Lease (Receptos, Inc.)
Possession and Commencement Date. 4.1 4.1. Landlord shall use its commercially reasonable efforts to deliver tender possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery portion of the Premises depicted on Exhibit A-1 attached hereto (such portion of the Premises, the “Phase 1 Premises”) to Tenant on the Estimated Term Commencement Date for the Phase 1 Premises with the work described on Exhibit G-1 attached hereto (the “Phase 1 Tenant Improvements”) Substantially Complete (as defined below) and commencement date with respect to said Suite; (b) the new Basic Annual Rentremainder of the Premises as depicted on Exhibit A-2 attached hereto (such portion of the Premises, the Suite increasing “Phase 2 Premises”) on the Basic Annual Rent at Estimated Term Commencement Date for the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Phase 2 Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described on Exhibit G-2 attached hereto (the “Phase 2 Tenant Improvements” and, collectively with the Phase 1 Tenant Improvements, the “Tenant Improvements”) and the work described in the work letter ("Work Letter") Exhibit G-3 attached hereto as Exhibit "B", substantially completed(the “Landlord Work”) Substantially Complete. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. in the event such work is not later than the Substantially Complete on or before such dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoeverreason, then (w) this Lease shall not be void or voidable, (x) Landlord shall have no liability not be liable to Tenant for such failure but any loss or damage resulting therefrom, (y) the Term Expiration Date shall be extended accordingly (with respect to a delay in the Term Commencement Date for the Phase 1 Premises only) and (z) Tenant shall not be responsible for the payment of any Base Rent or Operating Expenses (as each term is defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth as described in Section 4.2 below occurs with respect to such Suiteoccurs. The work required of Landlord described in the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).“
Appears in 2 contracts
Samples: Lease (Ardelyx, Inc.), Lease (Ardelyx, Inc.)
Possession and Commencement Date. 4.1 Landlord shall use its reasonable efforts to deliver possession of the Suites Demised Premises to Tenant in phases on April 1, 1999 (the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a"Target Term Commencement Date") the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described Leasehold Improvements and the Landlord's Work (each as defined in the work letter ("Work Letter") attached hereto as Exhibit "B", ) substantially completed. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. the Demised Premises not later than the dates date set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for the payment of any Rent (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suite. The work required of Landlord described in the Landlord's Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work Work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.the Demised Premises), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 ExpDemised Premises. Notwithstanding the foregoing, if the date of the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Target Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter Letter, including, but not limited to, Tenant's submittal to Landlord of the Space Plan Plans by the dates date provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., the Demised Premises will remain the Target Term Commencement Date (as set forth in Section 2.1.7 (asuch date shall be extended due to delays caused solely by Landlord or Landlord's agents).
Appears in 1 contract
Samples: Axys Pharmecueticals Inc
Possession and Commencement Date. 4.1 Landlord shall use its reasonable efforts to deliver 4.1. Tenant is currently in possession of the Suites Existing Space pursuant to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Existing Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition remain in possession of the Suite to Existing Space on the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) aboveEffective Date. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites Expansion Space which includes both the Block A Space and the Block B Space, to Tenant with vacant and broom clean on or before the work required of date which is 30 days after the Effective Date (the date on which Landlord described in actually delivers the work letter Expansion Space to Tenant being referred to herein as the “Expansion Commencement Date”), it being understood that Tenant’s obligation to pay rent on the Expansion Space shall not commence until the Block A Rent Commencement Date ("Work Letter"as defined below) attached hereto and the Block B Rent Commencement Date (as Exhibit "B"defined below), substantially completedas the case may be. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than in the dates set forth in Section 2.1.14 above. If event Landlord fails to tender possession of any of the Suites to Tenant Expansion Space with Landlord’s Work Substantially Completed on their respective Estimated Term Commencement Dates for any reason whatsoeveror before the Expansion Completion Date, Landlord shall have no liability not be liable to 125486.11-Los AngelesS2A Tenant for such failure but Tenant any loss or damage resulting therefrom, and this Lease shall not be responsible for void or voidable except as specifically provided in this Section 4.1. If Landlord has not tendered possession of the payment of Expansion Space with Landlord’s Work Substantially Completed on or before the date which is ninety (90) days after the Expansion Commencement Date, then Tenant may, by written notice to Landlord delivered within ten (10) days thereafter, elect to terminate this Lease. In the event this Lease is terminated pursuant to this Section 4.1, the Security Deposit shall be returned to Tenant and neither Landlord nor Tenant shall have any Rent (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs further rights, duties or obligations under this Lease, except with respect to such Suite. The work required provisions which, by their terms, survive termination of Landlord described in the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).
Appears in 1 contract
Samples: Lease (Emergent BioSolutions Inc.)
Possession and Commencement Date. 4.1 Landlord shall use its commercially reasonable efforts to deliver tender possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all Tenant on October 1, 1998 (the "Target ------ Term Commencement Date"). Tenant agrees that in the event Landlord fails to ---------------------- tender possession of the Demised Premises on or before the Target Term Commencement Date despite Landlord's use of commercially reasonable efforts to do so (and not as a subterfuge for avoiding this Lease), Landlord shall not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except in the event that Landlord is unable, after taking commercially reasonable efforts, to tender possession of the Demised Premises to Tenant on or before the date which is one hundred twenty (120) days after the Target Term Commencement Date, in which case either Landlord or Tenant may elect in writing to terminate this Lease. Tenant shall promptly construct or cause to be constructed the Tenant Improvements (as hereinafter defined) in accordance with the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: the exhibits hereto, including, without limitation, Exhibit "B" attached hereto (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described in the work letter ("Work Letter") attached hereto as Exhibit "B"). ----------- Subject to such terms and conditions, substantially completedTenant shall be allowed to construct a Class 10,000 clean room on the fourth floor of the Demised Premises. Tenant agrees that it shall submit Notwithstanding anything to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates contrary set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to herein, Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability access to Tenant for such failure but Tenant shall not be responsible for and the payment right to occupy the Demised Premises free of any Basic Annual Rent (as defined below) applicable to or Additional Rent from the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suite. The work required of Landlord described in until the Work Letter shall be deemed substantially completedRent Commencement Date, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exphereinafter defined.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).
Appears in 1 contract
Samples: Lease (Dendreon Corp)
Possession and Commencement Date. 4.1 4.1. Tenant acknowledges that Tenant’s affiliate eBioscience, Inc., a California corporation (“eBio”) and Landlord are parties to that certain Lease Agreement, dated April 27, 2009 (as the same may have been amended, assigned, amended and restated, supplemented or otherwise modified from time to time, the “Prior Lease”), whereby eBio leases the Project from Landlord pursuant to the terms and conditions set forth therein. eBio subsequently assigned the Prior Lease to Sequenom, Inc. (the “Current Occupant”), pursuant to that certain Assignment and Assumption of Lease, dated January 11, 2013, by and between eBio and the Current Occupant (the “Assignment”). The term of the Prior Lease is currently scheduled to expire prior to the Estimated Term Commencement Date. Subject to any holdover by the Current Occupant and the surrender of the Premises by the Current Occupant in accordance with the terms and conditions set forth in the Prior Lease and Assignment, Landlord shall use its commercially reasonable efforts to tender possession of the Premises to Tenant on the Estimated Term Commencement Date. Tenant agrees that in the event Landlord is unable to deliver possession of the Suites Premises on or before the Estimated Term Commencement Date for any reason (including as a result of any holdover by the Current Occupant or failure by the Current Occupant to Tenant surrender the Premises to Landlord in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to accordance with all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: the Prior Lease), then (a) the delivery and commencement date with respect to said Suite; this Lease shall not be void or voidable, (b) the new Basic Annual RentLandlord shall not be liable to Tenant for any loss or damage resulting therefrom, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; Term Expiration Date shall be extended accordingly and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described in the work letter ("Work Letter") attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for the payment of any Base Rent or Tenant’s Share of Operating Expenses (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth as described in Section 4.2 below occurs with respect to such Suiteoccurs. The work required For purposes of Landlord described in the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 Lease and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).term “
Appears in 1 contract
Samples: Lease (Affymetrix Inc)
Possession and Commencement Date. 4.1 Landlord and Tenant acknowledge that it is very important to both parties to complete the Landlord’s Work as soon as reasonably feasible and both parties agree to use diligent and good faith efforts to cause the Landlord’s Work to be completed as soon as reasonably feasible. Landlord shall use its reasonable diligent efforts to deliver tender possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of Tenant on the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area Estimated Term Commencement Date as set forth in Section 2.1.3 2.l.6(a) above (a) above. However“Estimated Term Commencement Date”), failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work Work required of Landlord (Landlord’s Work”) as such is more Particularly described in Exhibit “B” attached hereto (the work letter ("“Work Letter"”) attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review The design and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than construction of the dates Landlord’s Work is partially bifurcated, as described in Section 6.3 of the Work Letter; and special provisions and agreements are set forth in Section 2.1.14 above6.3 of the Work Letter which are intended to control and prevail over any conflicting or inconsistent provisions of this Lease, including this Section 4. If Accordingly, all provisions of Section 4 of this Lease are subject to and controlled by any conflicting or inconsistent provisions in Section 6.3 of the Work Letter. Tenant agrees that, in the event Landlord fails to tender possession of any of the Suites to Tenant Demised Premises with Landlord’s Work substantially complete on their respective or before the Estimated Term Commencement Dates for any reason whatsoeverDate, this Lease shall not be void or voidable and Landlord shall have no liability not be liable to Tenant for any loss or damage resulting therefrom. In such failure but event, however, Tenant shall not be responsible liable for any Basic Annual Rent or Additional Rent until the payment of any Rent Term Commencement Date (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect below). In the event Landlord reasonably determines that it will be unable to tender possession of the Demised Premises on or before the Estimated Term Commencement Date, promptly after making such Suitedetermination Landlord shall give written notice to Tenant of the date Landlord estimates being able to tender possession of the Demised Premises to Tenant. The work required of Landlord described in the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all If said estimated date for substantial Completion of Landlord's work identified on Tenant's plans and specifications ’s Work is later than one hundred eighty (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond 180) days after the Estimated Term Commencement Date due solely to plus the failure number of Tenant or days of Tenant's architect to timely review —caused Delays and approve the Construction Drawings Force Majeure Delays (as Tenant—caused Delays and Force Majeure Delays are defined in Section 6.1 of the Work Letter) and/or review), approve and/or deliver any item in the Work Letter includingthen Tenant may, but not limited toat Tenant’s option, Tenant's submittal exercisable by written notice delivered to Landlord by Tenant Within ten (10) days after the date of Landlord’s notice to Tenant specifying the Space Plan estimated new substantial completion date, terminate this Lease; and Landlord- and Tenant shall not by the dates provided in Section 2.1.14 abovereason thereof, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Expbe subject to any further liability under this Lease., will remain as set forth in Section 2.1.7 (a).
Appears in 1 contract
Samples: Fourth Lease Amendment and Assignment Agreement (Tanox Inc)
Possession and Commencement Date. 4.1 Landlord shall use its endeavor to have the Landlord’s Work and, if timely elected by Tenant as hereinabove provided, the Tenant Work substantially completed by April 1, 2004 (“Targeted Date”) provided, however, that the Targeted Date shall, in addition to extension for Tenant Delay and Change Order Delay, also be extended for the additional time equal to the aggregate time lost by Landlord due to strikes or other labor disputes not caused by Landlord, intervening governmental restrictions, delay in obtaining governmental permits and approvals, scarcity of labor or materials, war or other emergency, accidents, floods, fire or other casualties, atypical adverse weather conditions, or any cause which is beyond the reasonable efforts to deliver possession control of Landlord (or in the Suites to case of a Tenant in phases on the approximate dates set forth in Section 2.1.7 delay, Tenant) (a“Force Majeure Delay”). Upon the delivery The Targeted Date notwithstanding, in no event shall any Tenant Delay or any Change Order Delay in any manner delay or postpone any obligation of a Suite Tenant to Tenant pay Fixed Rent or Additional Rent as provided herein, the Suite and when such obligation shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable have otherwise accrued under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; . Landlord Work and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described in the work letter ("Work Letter") attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for the payment of any Rent (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suite. The work required of Landlord described in the Work Letter shall be deemed substantially completed, complete (and the “Commencement Date,” as that such term is used in this Article 4 the Lease shall be deemed to have occurred) on the date on which the Premises are (or would have been, but for any Tenant Delay or Change Order Delay) ready for occupancy in accordance with Tenant Plans, and elsewhere any remaining minor punch list work can reasonably be expected to be completed by Landlord’s Contractor within such additional period of time thereafter as shall be reasonable under the circumstances, provided Landlord’s contractor shall have undertaken such remaining work and shall be diligently prosecuting the same to completion, in this Leaseany case without materially adversely affecting Tenant’s ability to occupy and utilize substantially all the Tenant’s Premises for the Permitted Use, if and provided, further that Landlord has substantially completed all obtained at least a temporary certificate of Landlord's occupancy permitting Tenant to occupy Tenant’s Premises and Tenant’s architect has issued a certificate of substantial completion. Any remaining work identified shall be fully described by Tenant’s architect on Tenant's plans and specifications (subject only to a punch list to be certified to Landlord, Tenant and Landlord’s contractor and shall indicate all remaining work, except for such items as could not be reasonably identified by the parties (latent items) at such time and, except as hereinafter provided, shall be the sole document controlling such remaining work. Tenant’s acceptance of the punch list shall be Tenant’s acknowledgment that the Tenant’s Premises are substantially complete except for such items that do as could not materially interfere with be reasonably identified by the parties (latent items) at such time. Anything herein or in the Lease contained to the contrary notwithstanding, if Tenant's use ’s architect withholds either or both the aforesaid certificate of Suite 160 Exp. substantial completion and Suite 210 Exp.)certified punch list, or withholds any other certifications required hereunder or under the Lease, and has received if in Landlord’s reasonable opinion there is no reasonable basis for such withholding, Landlord may have the temporary occupancy certificate from the City certification(s) made by its own architect; in which event, Landlord’s architect’s certification shall be conclusive evidence of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. substantial completion of Landlord’s Work and Suite 210 Exp.Tenant Work, is delayed beyond and the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord contents of the Space Plan by the dates provided in Section 2.1.14 abovepunch list, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Expif any., will remain as set forth in Section 2.1.7 (a).
Appears in 1 contract
Samples: Medquist Inc
Possession and Commencement Date. 4.1 4.1. Landlord shall use its commercially reasonable efforts to deliver possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites Premises to Tenant on the Estimated Term Commencement Date, with the work (the “Tenant Improvements”) required of Landlord described in the work letter ("Work Letter") Letter attached hereto as Exhibit "B"B (the “Work Letter”), substantially completedand the base Building improvements described in Exhibit B-2 to the Work Letter (the “Base Building Improvements”), Substantially Complete (as defined below). Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. in the event such work is not later than Substantially Complete on or before the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates Date for any reason whatsoeverreason, then (a) this Lease shall not be void or voidable, (b) Landlord shall have no liability not be liable to Tenant for such failure but any loss or damage resulting therefrom, (c) the Term Commencement Date, the Rent Commencement Date and the Term Expiration Date shall be extended accordingly, (d) Tenant shall not be responsible for the payment of any Base Rent until the actual Rent Commencement Date as described in Section 4.2 occurs, and (e) Tenant shall not be responsible for the payment of the Property Management Fee or Tenant’s Adjusted Share of Operating Expenses (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth as described in Section 4.2 below occurs occurs. If Landlord fails to deliver the Premises to Tenant with respect to such Suite. The work required of Landlord described in the Work Letter shall be deemed substantially completed, as Tenant Improvements Substantially Complete on or before the day that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications forty-five (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond 45) days after the Estimated Term Commencement Date due solely (as the same shall be extended to the extent of any delay caused by Force Majeure or Tenant Delay), then the Base Rent shall be abated one (1) day for each day after the Estimated Term Commencement Date that Landlord fails to deliver the Premises to Tenant with the Tenant Improvements Substantially Complete. For purposes of the construction of the Tenant Improvements, Landlord agrees that Landlord may not claim as a Force Majeure the failure of Landlord’s contractor to Substantially Complete the Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan Improvements by the dates provided in Section 2.1.14 above, then the actual Estimated Term Commencement Date for Suites 160 Expsolely on the basis that it is Landlord’s contractor, and not Landlord, directly performing the Tenant Improvements. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).The term “
Appears in 1 contract
Samples: Lease (Selecta Biosciences Inc)
Possession and Commencement Date. 4.1 Landlord shall use its commercially reasonable efforts to deliver possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites Premises to Tenant on the Estimated Term Commencement Date, with the work (the “Tenant Improvements”) required of Landlord described in the work letter ("Work Letter") Letter attached hereto as Exhibit "B"B (the “Work Letter”) and the light laboratory base Building improvements described in Exhibit B-2 (the “Landlord’s Work”) Substantially Complete (as defined below). If Landlord has failed to Substantially Complete the Tenant Improvements and the Landlord’s Work on or prior to the date that is sixty (60) days after the Estimated Term Commencement Date (as the same may be extended pursuant to the last sentence of this Section 4.1), substantially completedthen Tenant shall be entitled to one (1) day of abatement of Base Rent for every day after the Estimated Term Commencement Date that Substantial Completion of Tenant Improvements and the Landlord’s Work has not occurred. Any such Base Rent abatement shall be credited against the Base Rent due from Tenant following the Rent Commencement Date (as hereinafter defined). Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. in the event such work is not later than Substantially Complete on or before the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates Date for any reason whatsoeverreason, then (a) this Lease shall not be void or voidable, (b) Landlord shall have no liability not be liable to Tenant for such failure but any loss or damage resulting therefrom, (c) the Term Expiration Date shall be extended accordingly and (d) Tenant shall not be responsible for the payment of any Base Rent or Tenant’s Adjusted Share of Operating Expenses (as defined below) applicable to the Suite to be delivered or Tenant’s Adjusted Share of Laboratory Support Expenses (as defined below) until the actual Term Commencement Date set forth as described in Section 4.2 below occurs with respect to such Suite. The work required of Landlord described in the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Expoccurs. Notwithstanding the foregoing, if Landlord has failed to Substantially Complete the Tenant Improvements on or prior to the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., that is delayed beyond one hundred twenty (120) days after the Estimated Term Commencement Date due solely (as the same may be extended pursuant to the failure last sentence of this Section 4.1), then this Lease may be terminated by Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal by written notice to Landlord of the Space Plan given no later than thirty (30) days following such date, and if so terminated by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 Tenant: (a).) the Security Deposit shall be returned to Tenant in accordance with Article 11 hereof, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to the terms and provisions of this Lease that expressly survive the expiration or earlier termination of this Lease; provided, however, that any such termination notice shall be null and void and no longer of any force and effect if Landlord Substantially Completes the Tenant Improvements and Landlord’s Work within forty-five (45) days after receipt of such termination notice. The term “
Appears in 1 contract
Samples: Lease (CM Life Sciences III Inc.)
Possession and Commencement Date. 4.1 4.1. Landlord shall, at Landlord’s sole cost and expense, complete the work listed on Exhibit D attached hereto (the “Landlord Work”). Promptly following the Execution Date, Landlord shall use its reasonable efforts to deliver possession commence the items of the Suites Landlord Work identified on Exhibit D as the “Pre- Delivery Landlord Work” and shall diligently prosecute the Pre-Delivery Landlord Work to completion. Upon completion of the Pre-Delivery Landlord Work (a) Landlord shall deliver the Premises to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion for Tenant’s construction of the Demised Tenant Improvements (as defined below), and (b) Tenant shall have full access to the Premises to construct the Tenant Improvements (subject to all of the terms terms, conditions and conditions provisions of this Lease and the Work Letter). Landlord and Tenant will cooperate with one another as required to allow (i) Landlord to complete the Post-Delivery Landlord Work (as defined in Exhibit D) in accordance with Landlord’s plans and schedule for the completion of such work (and Tenant will ensure that Tenant’s construction of the Tenant Improvements does not interfere with the completion of the Post-Delivery Landlord Work) and (ii) Tenant to construct the Tenant Improvements (and Landlord will ensure that Landlord’s construction of the Post-Delivery Landlord Work does not interfere with the completion of the Tenant Improvements). In the event of a conflict in accordance with the foregoing which cannot be resolved through agreement of the parties, Landlord’s completion of the Post-Delivery Landlord Work will have priority. 4.2. The “Term Commencement Date” shall be the earlier of (a) the Estimated Term Commencement Date and (b) the first day Tenant commences business operations in any portion of the Premises; provided, however, if Landlord fails to complete the Pre-Delivery Landlord Work by February 28, 2017 (the “Pre-Delivery Landlord Work Target Date”) (which Pre- Delivery Landlord Work Target Date will be extended on a day-for-day basis by the number of days of delay caused by Force Majeure or delays caused by Tenant or any Tenant Party (as defined in Section 21.1)), then the Estimated Term Commencement Date shall be extended on a day-for-day basis for each day thereafter that the Pre-Delivery Landlord Work is not complete. If Landlord fails to complete the Pre-Delivery Landlord Work by May 1, 2017 (the “Pre- Delivery Landlord Work Outside Date”) (which Pre-Delivery Landlord Work Outside Date will be extended on a day-for-day basis by the number of days of delay caused by Force Majeure or delays caused by Tenant or any Tenant Party (as defined in Section 21.1)), then Tenant shall be entitled to receive one (1) day of Rent abatement for each day thereafter that the Pre-Delivery Landlord Work is not complete, and such abatement shall be applied toward Tenant’s first required payment(s) of Rent during the Term. Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described in the work letter ("Work Letter") attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession written acknowledgment of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for the payment of any Rent (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suite. The work required of Landlord described in and the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications Term Expiration Date within ten (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the 10) days after Tenant takes occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoingPremises, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).form attached as
Appears in 1 contract
Samples: Lease (La Jolla Pharmaceutical Co)
Possession and Commencement Date. 4.1 Landlord shall use its endeavor to have the Landlord's Work and, if timely elected by Tenant as hereinabove provided, the Tenant Work substantially completed by the Targeted Date (as such term is defined in the Lease); provided, however, that the Targeted Date shall, in addition to extension for Tenant Delay and Change Order Delay, also be extended for the additional time equal to the aggregate time lost by Landlord due to strikes or other labor disputes not caused by Landlord, intervening governmental restrictions, delay in obtaining governmental permits and approvals, scarcity of labor or materials, war or other emergency, accidents, floods, fire or other casualties, atypical adverse weather conditions, or any cause which is beyond the reasonable efforts to deliver possession control of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 Landlord (a"Force Majeure Delay"). Upon the delivery The Targeted Date notwithstanding, in no event shall any Tenant Delay or any Change Order Delay in any manner delay or postpone any obligation of a Suite Tenant to Tenant pay Fixed Rent or Additional Rent as provided herein, the Suite and when such obligation shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable have otherwise accrued under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described in the work letter ("Work Letter") attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for the payment of any Rent (timely elect to have Landlord's Contractor construct Tenant Work as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs with respect to such Suite. The work required of hereinabove provided, then Landlord described in the Work Letter and Tenant Work shall be deemed substantially completed, complete (and the "Substantial Completion Date," as that such term is used in this Article 4 the Lease shall be deemed to have occurred) on the date on which the Premises are (or would have been, but for any Tenant Delay or Change Order Delay) ready for occupancy in accordance with Tenant Plans, and elsewhere any remaining work can reasonably be expected to be completed by Landlord's Contractor within such additional period of time thereafter as shall be reasonable under the circumstances, provided Landlord's contractor shall have undertaken such remaining work and shall be diligently prosecuting the same to completion, in this any case without materially adversely affecting Tenant's ability to occupy and utilize substantially all the Tenant's Premises for the Permitted Use, and provided, further that Landlord has obtained at least a temporary certificate of occupancy permitting Tenant to occupy Tenant's Premises and Tenant's architect has issued a certificate of substantial completion. Any remaining work shall be fully described by Tenant's architect on a punch list to be certified to Landlord, Tenant and Landlord's contractor and shall indicate all remaining work and, except as hereinafter provided, shall be the sole document controlling such remaining work. Tenant's acceptance of the punch list shall be Tenant's acknowledgment that the Tenant's Premises are substantially complete. Anything herein or in the Lease contained to the contrary notwithstanding, if Tenant's architect withholds either or both the aforesaid certificate of substantial completion and certified punch list, or withholds any other certifications required hereunder or under the Lease, and if in Landlord's reasonable opinion there is no reasonable basis for such withholding, Landlord has substantially completed all may have the certification(s) made by its own architect; in which event, Landlord's architect's certification shall be conclusive evidence of the date of substantial completion of Landlord's work identified on Tenant's plans Work and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.)Tenant Work, and has received the temporary occupancy certificate from contents of the City of San Diegopunch list, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Expany., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).
Appears in 1 contract
Samples: Ict Group Inc
Possession and Commencement Date. 4.1 Landlord shall use its reasonable efforts to deliver 4.1. Tenant is currently in possession of the Suites Existing Space pursuant to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Existing Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition remain in possession of the Suite to Existing Space on the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) aboveEffective Date. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites Expansion Space which includes both the Block A Space and the Block B Space, to Tenant with vacant and broom clean on or before the work required of date which is 30 days after the Effective Date (the date on which Landlord described in actually delivers the work letter Expansion Space to Tenant being referred to herein as the "Expansion Commencement Date"), it being understood that Tenant's obligation to pay rent on the Expansion Space shall not commence until the Block A Rent Commencement Date ("Work Letter"as defined below) attached hereto and the Block B Rent Commencement date (as Exhibit "B"defined below), substantially completedas the case may be. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than in the dates set forth in Section 2.1.14 above. If event Landlord fails to tender possession of any of the Suites to Tenant Expansion Space with Landlord's Work Substantially Completed on their respective Estimated Term Commencement Dates for any reason whatsoeveror before the Expansion Completion Date, Landlord shall have no liability not be liable to Tenant for such failure but Tenant any loss or damage resulting therefrom, and this Lease shall not be responsible for void or voidable except as specifically provided in this Section 4.1. If Landlord has not tendered possession of the payment of Expansion Space with Landlord's Work Substantially Completed on or before the date which is ninety (90) days after the Expansion Commencement Date, then Tenant may, by written notice to Landlord delivered within ten (10) days thereafter, elect to terminate this Lease. In the event this Lease is terminated pursuant to this Section 4.1, the Security Deposit shall be returned to Tenant and neither Landlord nor Tenant shall have any Rent (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs further rights, duties or obligations under this Lease, except with respect to such Suite. The work required provisions which, by their terms, survive termination of Landlord described in the Work Letter shall be deemed substantially completed, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).
Appears in 1 contract
Samples: Lease (Antex Biologics Inc)
Possession and Commencement Date. 4.1 4.1. Landlord shall use its commercially reasonable efforts to deliver possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: (a) the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites Premises to Tenant on the Estimated Term Commencement Date, with the work (the “Tenant Improvements”) required of Landlord described in the work letter ("Work Letter") Letter attached hereto as Exhibit "B", substantially completedB (the “Work Letter”) Substantially Complete (as defined below). Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. in the event such work is not later than Substantially Complete on or before the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates Date for any reason whatsoeverreason, then (a) this Lease shall not be void or voidable, (b) Landlord shall have no liability not be liable to Tenant for such failure but any loss or damage resulting therefrom, (c) the Term Expiration Date shall be extended accordingly and (d) Tenant shall not be responsible for the payment of any Base Rent or Tenant’s Adjusted Share of Operating Expenses (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth as described in Section 4.2 below occurs with respect to such Suiteoccurs. The work required of Landlord described Notwithstanding anything in this Lease (including the Work Letter Letter) to the contrary, (y) Landlord’s obligation to timely achieve Substantial Completion shall be deemed substantially completed, subject to extension on a day-for-day basis as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all a result of Landlord's work identified on Tenant's plans and specifications Force Majeure (subject only to as defined below) or a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.Tenant Delay (as defined below), and (z) if there has received been no Force Majeure or Tenant Delay and Landlord fails to deliver the temporary occupancy certificate from Premises to Tenant with the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if Tenant Improvements Substantially Complete on or before the date of actual that is thirty (30) days after the Estimated Term Commencement Date Date, then the Base Rent shall be abated one (1) day for Suites 160 Exp. and Suite 210 Exp., is delayed beyond each day after the Estimated Term Commencement Date due solely that Landlord fails to deliver the failure of Premises to Tenant or Tenant's architect to timely review and approve with the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 ExpTenant Improvements Substantially Complete. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).The term “
Appears in 1 contract
Samples: Lease (Omega Therapeutics, Inc.)
Possession and Commencement Date. 4.1 4.1. Landlord shall use its reasonable diligent, commercially reasonable, efforts to deliver tender possession of the Suites Premises to Tenant in phases on the approximate dates set forth Term Commencement Date, with the work in the Fifth Floor Premises (the “Fifth Floor Tenant Improvements”) to be performed by Landlord as described in Section 2.1.7 2 of the Work Letter attached hereto as Exhibit B (athe “Work Letter”) Substantially Complete (as defined in the Work Letter). Upon Tenant agrees that in the delivery of event such work is not Substantially Complete on or before the Term Commencement Date for any reason other than a Suite to Tenant as provided hereindefault by Landlord beyond applicable notice and cure periods under this Lease, the Suite shall become and constitute a portion of the Demised Premises subject to all of the terms and conditions of this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: then (a) the delivery and commencement date with respect to said Suite; this Lease shall not be void or voidable, (b) the new Basic Annual RentLandlord shall not be liable to Tenant for any loss or damage resulting therefrom, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon neither the addition of Term Commencement Date nor the Suite to the Demised Premises; Term Expiration Date shall be extended, and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described in the work letter ("Work Letter") attached hereto as Exhibit "B", substantially completed. Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than the dates set forth in Section 2.1.14 above. If Landlord fails to tender possession of any of the Suites to Tenant on their respective Estimated Term Commencement Dates for any reason whatsoever, Landlord shall have no liability to Tenant for such failure but Tenant shall not be responsible for the payment of any Base Rent, subject to the monthly Base Rent abatement during the Abatement Period set forth in Section 8, and payment of Additional Rent (as defined below), in each case notwithstanding such delay, in accordance with the terms hereof. Tenant’s Authorized Representative shall be allowed to attend construction meetings and to monitor the progress of Landlord’s work prior to delivery of the Premises and Landlord shall reasonably update and cooperate with Tenant (at no material cost to Landlord) applicable to so Tenant can plan for any likely delivery delay. Landlord shall cause the Suite Fifth Floor Tenant Improvements to be delivered until constructed in the actual Term Commencement Date set forth in Section 4.2 below occurs with respect Premises pursuant to such Suite. The work required of Landlord described in the Work Letter shall be deemed substantially completedat a total maximum cost to Tenant of Two Million Four Hundred Thousand and 00/100 Dollars ($2,400,000.00) (such amount, as that term is used in this Article 4 and elsewhere in this Lease, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.the “Fifth Floor Tenant Contribution”), provided that Tenant shall also be liable and has received responsible for any increased cost over and above the temporary occupancy certificate from aggregate budgeted cost to construct the City Fifth Floor Tenant Improvements of San Diego, if requiredFive Million Nine Hundred Three Thousand Eight Hundred Sixty-Two and 00/100 Dollars ($5,903,862.00) (the “Fifth Floor Budgeted TI Cost”) (which Fifth Floor Budgeted TI Cost includes, and a substantial completion certificate from is not in addition to, the architect for the occupancy of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoingFifth Floor Tenant Contribution), if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings extent that any such increased cost arises from either (i) a Fifth Floor TI Change (as defined in the Work Letter) and/or reviewrequested by Tenant and approved by Landlord in accordance with Section 2.2 of the Work Letter, approve and/or or (ii) an act or omission of Tenant or any of Tenant’s construction manager, contractors, subcontractors or agents that constitutes negligence or willful misconduct or a breach of the Lease (such increased cost, a “Fifth Floor Tenant Increase Amount”). Tenant shall pay, by wire transfer of immediately available funds to Landlord, the Fifth Floor Tenant Contribution within five (5) business days after the Execution Date (the “Tenant Contribution Deadline”); provided, however, if Tenant requests that Landlord disburse all or a portion of the Additional TI Allowance (as defined below) to be applied to the cost of construction of the Fifth Floor Tenant Improvements, by delivering to Landlord a letter in the form attached as Exhibit C hereto executed by an authorized officer of Tenant pursuant to Section 4.3, which request must be made by Tenant, if at all, no later than two (2) business days after the Execution Date, then such Additional TI Allowance requested by Tenant for the Fifth Floor Improvements will be credited against and deducted from the Fifth Floor Tenant Contribution, in which case Tenant shall wire to Landlord in immediately available funds, no later than five (5) business days after the Executive Date, the amount calculated by subtracting the amount of the Additional TI Allowance requested by Tenant for the Fifth Floor Tenant Improvements from the Fifth Floor Tenant Contribution. Tenant may elect to deliver the signed Exhibit C letter to Landlord along with Tenant’s signed counterparts of this Lease, and if Tenant so elects, Tenant shall not be required to also deliver said letter pursuant to the Lease notice provisions. Tenant shall pay any item Fifth Floor Tenant Increase Amount no later than thirty (30) days after receipt of an invoice from Landlord therefor, with any reasonable supporting documentation. If Tenant fails to request all or a portion of the Additional TI Allowance to be applied to the cost of construction of the Fifth Floor Tenant Improvements by the date that is two (2) business days after the Execution Date in accordance with this paragraph, then Tenant shall have no further right to request any disbursement of the Additional TI Allowance for the Fifth Floor Tenant Improvements, except that if Landlord delivers to Tenant an invoice for a Fifth Floor Tenant Increase Amount, and if there is any Additional TI Allowance that remains available and undisbursed at such time, then Tenant may request that all or a portion of such available and undisbursed Additional TI Allowance be applied to pay the Fifth Floor Tenant Increase Amount, which request must be made, if at all, by delivering to Landlord a letter in the form attached as Exhibit C hereto executed by an authorized officer of Tenant pursuant to Section 4.3 no later than thirty (30) days after Landlord’s delivery of the invoice for such Fifth Floor Tenant Increase Amount. For clarification purposes, Tenant will not be obligated to submit a separate Fund Request (as defined in the Work Letter Letter) for any of the Additional TI Allowance that Tenant requests to be applied to the cost of the Fifth Floor Tenant Improvements in accordance with this paragraph. The Fifth Floor Tenant Contribution and any Fifth Floor Tenant Increase Amount shall be deemed Rent for all purposes under this Lease, and if Tenant fails to timely deposit the Fifth Floor Tenant Contribution with Landlord by the Tenant Contribution Deadline or fails to timely pay any Fifth Floor Tenant Increase Amount (or fails to timely request that any remaining and available Additional TI Allowance be applied to such Fifth Floor Tenant Increase Amount) within thirty (30) days after delivery of an invoice therefor, as required by this paragraph, then it shall constitute a default in the payment of Rent pursuant to Section 31.4(b) below (in each case, a “Fifth Floor Tenant Contribution Rent Default”), and in addition to (and not in limitation of) all of the rights and remedies set forth in this Lease for nonpayment of Rent, which will be available to Landlord for a Fifth Floor Tenant Contribution Rent Default under Article 31 of this Lease, at law or in equity (including, but not limited to, the right to assess interest at the Default Rate and the right to assess a late charge), Landlord may elect, in its sole and absolute discretion, to immediately stop all work on the Fifth Floor Tenant Improvements and shall have no obligation to construct the Fifth Floor Tenant Improvements unless and until Tenant cures such Fifth Floor Tenant Contribution Rent Default. For clarification purposes, any increase over and above the Fifth Floor Budgeted TI Cost arising from any Fifth Floor Tenant Contribution Rent Default shall be a Fifth Floor Tenant Increase Amount, for which Tenant shall be solely liable and responsible pursuant to this paragraph. Tenant's submittal to Landlord ’s total obligation for the cost of the Space Plan by Fifth Floor Tenant Improvements shall equal the dates provided in Section 2.1.14 above, then Fifth Floor Tenant Contribution plus any Fifth Floor Tenant Increase Amounts. Time shall be of the actual Term Commencement Date for Suites 160 Exp. essence with respect to each and Suite 210 Exp., will remain as every time period and deadline set forth in Section 2.1.7 (a)this paragraph, and in no event shall any of such time periods or deadlines be extended for any reason whatsoever, including any event of Force Majeure. No sums are owed to Landlord for Landlord’s oversight or review of the Fifth Floor Tenant Improvements.
Appears in 1 contract
Samples: Lease (Lyell Immunopharma, Inc.)
Possession and Commencement Date. 4.1 4.1. Landlord shall use its reasonable efforts endeavor to deliver tender possession of the Suites to Tenant in phases on the approximate dates set forth in Section 2.1.7 (a). Upon the delivery of a Suite to Tenant as provided herein, the Suite shall become and constitute a portion of the Demised Premises subject to all of Tenant on or before one hundred eighty (180) days from the terms and conditions of date this Lease and Landlord and Tenant shall execute and deliver a supplement to this Lease confirming: is executed by both parties (athe "Target Term Commencement Date") with Landlord's Work (as defined in Exhibit "B" attached hereto (the delivery and commencement date with respect to said Suite; (b) the new Basic Annual Rent, the Suite increasing the Basic Annual Rent at the square foot rental rate then applicable under the Lease; (c) Tenant's new Pro Rata Share of Operating Expenses based upon the addition of the Suite to the Demised Premises; and (d) the increase in the Rentable Area of the Demised Premises based upon the addition of the Suite's Rentable Area as set forth in Section 2.1.3 (a) above. However, failure to execute and deliver such supplement shall not affect Landlord or Tenant's liability hereunder. Excepting Suite 160 Exp. and 210 Exp., the Demised Premises shall be delivered to Tenant as provided herein in their then "as is" condition. Notwithstanding the foregoing, the Suite (s) shall be tendered to Tenant in good condition and repair. With respect to Suite 160 Exp. and 210 Exp., Landlord shall tender possession of the Suites to Tenant with the work required of Landlord described in the work letter ("Work Letter"), and Tenant's Improvement Work (as defined in the Work Letter) attached hereto Substantially Completed (as Exhibit "B", substantially completedsuch in the Work Letter). Tenant agrees that it shall submit to Landlord for review and approval Tenant's space plans ("Space Plans") for Xxxxx 000 Xxx. xxx Xxxxx 000 Exp. not later than that, in the dates set forth in Section 2.1.14 above. If event Landlord fails to tender possession of any of the Suites to Tenant Demised Premises with Landlord's Work and Tenant's Improvement Work Substantially Completed on their respective Estimated or before the Target Term Commencement Dates for any reason whatsoeverDate, Landlord shall have no liability not be liable to Tenant for any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided below this Section 4.1. In such failure but event, however, Tenant shall not be responsible liable for the payment of any Basic Annual Rent or Operating Expenses (as defined below) applicable to the Suite to be delivered until the actual Term Commencement Date set forth in Section 4.2 below occurs below. In the event Landlord has not tendered possession of the Demised Premises to Tenant with Landlord's Work and Tenant Improvement Work Substantially Completed on or before the date which is six (6) months after the Target Term Commencement Date (as extended for Tenant-Caused Delays and Force-Majeure Delays), then either Landlord or Tenant may, by written notice to the other delivered within ten (10) days thereafter, elect to terminate this Lease. In the event this Lease is terminated pursuant to this Section 4.1, the Security Deposit shall be returned to Tenant and Landlord shall pay to Tenant, the Tenant's out-of-pocket costs incurred in connection with entering into this Lease and designing and constructing the Tenant Improvements. Landlord shall make such payment within thirty (30) days following receipt by Landlord of Tenant's notice of Tenant's election to terminate this Lease. Upon such payment, neither Landlord nor Tenant shall have any further duties or obligation under this Lease, except with respect to such Suite. The work required of Landlord described in the Work Letter shall be deemed substantially completedprovisions which, as that term is used in this Article 4 and elsewhere in this Leaseby their terms, if Landlord has substantially completed all of Landlord's work identified on Tenant's plans and specifications (subject only to survive a punch list of items that do not materially interfere with Tenant's use of Suite 160 Exp. and Suite 210 Exp.), and has received the temporary occupancy certificate from the City of San Diego, if required, and a substantial completion certificate from the architect for the occupancy termination of the Suite 160 Exp. and Suite 210 Exp. Notwithstanding the foregoing, if the date of actual Term Commencement Date for Suites 160 Exp. and Suite 210 ExpLease., is delayed beyond the Estimated Term Commencement Date due solely to the failure of Tenant or Tenant's architect to timely review and approve the Construction Drawings (as defined in the Work Letter) and/or review, approve and/or deliver any item in the Work Letter including, but not limited to, Tenant's submittal to Landlord of the Space Plan by the dates provided in Section 2.1.14 above, then the actual Term Commencement Date for Suites 160 Exp. and Suite 210 Exp., will remain as set forth in Section 2.1.7 (a).
Appears in 1 contract
Samples: Lease (Lion Bioscience Ag)