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Common use of POSSESSION OF PREMISES Clause in Contracts

POSSESSION OF PREMISES. The Lessee shall be entitled to enter into possession of the demised premises at the commencement date for the sole purpose of installing and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements") after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date shall be the first day of the month next following the date when the Lessor's architect certifies in writing to the Lessee that the demised premises are substantially completed and ready for installation of the leasehold improvements. Rental shall commence to be payable on the commencement date notwithstanding that the Lessee has not completed its leasehold improvements or opened for business. Provided Always, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part of the Lessee, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of the demised premises or portions thereof as they become available for fixturing provided that the fixturing date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the commencement date, the expiry date of the initial term shall remain as set forth in the preceding Paragraph 2.

Appears in 3 contracts

Samples: Lease Agreement (Capital Reserve Corp), Lease Agreement (Capital Reserve Corp), Lease Agreement (Capital Reserve Canada LTD)

POSSESSION OF PREMISES. The Lessee Tenant shall, within five (5) business days after request therefrom by Landlord, advise Landlord of required color selections. Tenant shall be entitled to enter into possession responsible for Landlord's increased cost of labor and materials if any, and loss of Rent, arising out of delay in the completion of the demised premises Premises caused by Tenant's failure to comply in a timely manner with the foregoing schedule. Landlord shall notify Tenant at least thirty (30) days prior to its estimated date of Substantial Completion and Tenant shall during such thirty (30) day period have the commencement date right to access the warehouse portion of the Premises to install fixtures and equipment ("Fixturization Period") provided that Tenant does not thereby interfere with the completion of construction or occasion any labor dispute as a result of such installations and provided further that Tenant does hereby agree to assume all risk of loss or damage to such machinery, equipment, fixtures and other personal property. Tenant shall adopt a schedule in conformance with the schedule of Landlord and conduct its work in such a manner as to maintain harmonious labor relations so as not to interfere unreasonably with or delay the work of Landlord. Tenant shall not be liable to Landlord for the sole purpose payment of installing and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements") after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date Basic Rent or taxes during such Fixturization Period but Tenant shall be subject to the first day other terms and provisions of this Lease, including the insurance and indemnity obligations and the obligation to maintain the Premises free of mechanic liens. Basic Rent and the payment and performance of all other obligations to be paid by Tenant shall commence upon the Commencement Date; provided, however, in the event that Landlord's Improvements are partially completed and partially ready for occupancy, and are occupied by Tenant, or Tenant is required to occupy same, the terms of such occupancy or use of the month next following Premises shall apply and a pro rata portion of the Basic Rent and the pro rata portion of all other obligations to be paid by Tenant shall be payable commencing with such date when of partial occupancy, and shall be equitably adjusted from time to time based upon the Lessorarea and value of the portion of Landlord's architect certifies in writing to the Lessee that the demised premises are Improvements substantially completed and ready for installation Tenant's occupancy. The failure of the leasehold improvements. Rental shall commence Tenant to be payable on the commencement date notwithstanding that the Lessee has not completed its leasehold improvements or opened for business. Provided Always, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part of the Lessee, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of or to occupy the demised premises Premises or portions any portion thereof as they become available for fixturing provided that the fixturing date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied by the Lessee bears which Tenant is required to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to occupy on or after the commencement date, the expiry date Landlord's Improvements or such applicable portion thereof are substantially complete and ready for occupancy by Tenant shall not serve to relieve Tenant of the initial term shall remain as set forth in the preceding Paragraph 2said obligations or delay payments by Tenant to Landlord.

Appears in 2 contracts

Samples: Lease Agreement (Petco Animal Supplies Inc), Ground Lease Agreement (Petco Animal Supplies Inc)

POSSESSION OF PREMISES. The Lessee Lessor shall use commercially reasonable and diligent efforts to construct and deliver the Premises as required by the provisions of this Lease. If Lessor shall be entitled unable to enter into give possession of the demised premises at Premises on the commencement date Target Commencement Date because the construction of the Office Complex or the completion of the Premises has not been sufficiently completed to make the Premises ready for occupancy or if Lessor shall fail to provide a certificate of occupancy, or for any other reason, Lessor shall not be subject to any claims, damages or liabilities for the sole purpose of installing failure to give possession on said date except as expressly set forth in this Article IV. Under said circumstances, the rent reserved and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements") after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date covenant to pay same shall be the first day not commence until possession of the month next following Premises is given or the Premises are ready for occupancy, whichever is earlier. Failure to give possession on the date when the Lessor's architect certifies in writing to the Lessee that the demised premises are substantially completed and ready for installation of commencement of the leasehold improvements. Rental term shall commence to be payable on in no way affect the commencement date notwithstanding that validity of this Lease or the obligations of Lessee has not completed its leasehold improvements or opened for business. Provided Alwayshereunder; provided, however, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part date of commencement of the Lesseeinitial term is delayed beyond the Target Commencement Date, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of the demised premises or portions thereof as they become available for fixturing provided that the fixturing date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the commencement date, the expiry expiration date of the initial term shall remain be extended to provide for a full ten-year initial term of this Lease. If Lessee is given and accepts possession of the Premises on a date earlier than the date above specified for commencement of the term, and commences operating its business therefrom (and not merely installing equipment and fixtures), the rent reserved herein and all covenants, agreements and obligations herein and the term of this Lease shall commence on the date that possession of the Premises is given to Lessee. The acceptance of possession by Lessee shall be deemed conclusively to establish that the Premises and all other improvements of the Office Complex required to be constructed by Lessor for use thereof by Lessee hereunder have been completed at such time to Lessee's satisfaction and in conformity with the provisions of this Lease in all respects unless Lessee notifies Lessor in writing within sixty (60) days after commencement of the term as to any items not completed. Lessee waives any claim as to matters not listed in said notice. Lessor shall exercise commercially reasonable efforts to complete, repair or replace any aspect of the Premises set forth in said notice, within sixty (60) days of said notice. Lessee acknowledges that neither Lessor nor any agent of Lessor has made any representation or warranty with respect to the preceding Paragraph 2Premises or the Office Complex or with respect to the suitability or fitness of either for the conduct of Lessee's business or for any other purpose except as expressly set forth herein. Nothing contained in this Article shall affect the commencement of the Lease term or the obligation of Lessee to pay any rent due under this Lease.

Appears in 2 contracts

Samples: Office Lease (Jda Software Group Inc), Office Lease (Jda Software Group Inc)

POSSESSION OF PREMISES. The Lessee If Lessor shall be entitled unable to enter into give possession of the demised premises at Premises on the commencement date for Commencement Date because the sole purpose of installing and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements") after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date shall be the first day construction of the month next following Complex or the date when completion of the Lessor's architect certifies in writing Premises has not been sufficiently completed to make the Lessee that the demised premises are substantially completed and Premises ready for installation of the leasehold improvements. Rental shall commence to be payable on the commencement date notwithstanding that the Lessee has not completed its leasehold improvements occupancy, or opened for business. Provided Always, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part of the Lesseeother reason, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable subject to any claims, damages or liabilities for any lossthe failure to give possession on said date, damage or injury suffered by provided that Lessor shall use commercially reasonable efforts to substantially complete the Lessee by reason Premises as soon as is reasonably possible thereafter. Under said circumstances, the term of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy this Lease shall commence on the commencement date. Notwithstanding the foregoingCommencement Date and Lessee shall be obligated to accept, in writing, the Premises within three (3) days following the date upon which the Premises are ready for occupancy. If Lessee may if it desires, but only with the Lessor's prior written consent, take is given and accepts possession of the demised premises or portions thereof as they become available for fixturing provided that the fixturing Premises on a date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other earlier than the first of the monthCommencement Date, the Lessee rent reserved herein and all covenants, agreements and obligations herein and the term of this Lease shall pay a proportionate rental for that portion of commence on the month until the end of such month. Notwithstanding date that possession of the demised premises may occur prior Premises is given to Lessee. The acceptance of possession by Lessee shall be deemed conclusively to establish that the Premises and all other improvements of the Complex required to be constructed by Lessor for use thereof by Lessee hereunder have been completed at such time to Lessee's satisfaction and in conformity with the provisions of this Lease in all respects unless Lessee notifies Lessor in writing within ninety (90) days after commencement of the term as to any items not completed. Lessee waives any claim as to matters not listed in said notice. Lessee acknowledges that neither Lessor nor any agent of Lessor has made any representation or after warranty with respect to the commencement datePremises or the Complex or with respect to the suitability or fitness of either for the conduct of Lessee's business or for any other purpose. 6. In accordance with the provisions of Article XXIX.A of the Lease, in the event Lessee desires any Tenant Improvements having a price in excess of the Tenant Improvement Allowance, Lessee shall pay Lessor in cash for such excess amount. As of the date of this First Amendment, the expiry date parties acknowledge and agree that Lessor estimates that the price of the initial term Tenant Improvements will exceed the Tenant Improvement Allowance by approximately Nine Hundred Forty Thousand and No/100ths Dollars ($940,000.00) (the "Improvement Excess"). Lessor and Lessee agree that Lessee shall remain as set forth reimburse Lessor for the Improvement Excess in the preceding Paragraph 2.three payments as

Appears in 1 contract

Samples: Lease (Vanstar Corp)

POSSESSION OF PREMISES. The Lessee If Lessor shall be entitled unable to enter into give possession of the demised premises at Premises on the date of the commencement date of the term because the construction of the Complex or the completion of the Premises has not been sufficiently completed to make the Premises ready for occupancy, or for any other reason, Lessor shall not be subject to any claims, damages or liabilities for the sole purpose of installing failure to give possession on said date except as expressly set forth below. Under said circumstances, the rent reserved and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements") after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date covenant to pay same shall be the first day not commence until possession of the month next following Premises is given or the Premises are ready for occupancy, whichever is earlier. Failure to give possession on the date when the Lessor's architect certifies in writing to the Lessee that the demised premises are substantially completed and ready for installation of commencement of the leasehold improvements. Rental term shall commence to be payable on in no way affect the commencement date notwithstanding that validity of this Lease or the obligations of Lessee has not completed its leasehold improvements or opened for business. Provided Alwayshereunder; provided, however, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part date of commencement of the Lessee, initial term is delayed beyond the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of the demised premises or portions thereof as they become available for fixturing provided that the fixturing date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the scheduled commencement date, the expiry expiration date of the initial term shall remain as set forth be extended to provide for a full ten-year initial term of this Lease; and provided further (a) that for every two (2) days' delay in Lessor's delivery of possession (other than for reasons beyond Lessor's control including force majeure) after MARCH 1, 1997 BUT BEFORE APRIL 1, 1997, and (b) that for every one (1) day delay in Lessor's delivery of possession (other than for reasons beyond Lessor's control including force majeure) after APRIL 1, 1997, Lessee shall be entitled to a credit equal to one (1) day of Base Rent, not to exceed ninety (90) total days of credit against Base Rent, to be applied to the preceding Paragraph 2.Base Rent first due hereunder. If for any reason whatsoever Lessor fails to substantially complete the Premises and deliver possession thereof to Lessee by DECEMBER 1, 1997, then at any time thereafter, Lessee may cancel this Lease by giving written notice to Lessor of such cancellation. If Lessee is given and accepts possession of the Premises on a date earlier than the date above specified for commencement of the term, the rent reserved herein and all covenants, agreements and obligations herein and the term of this Lease shall commence on the date that possession of the Premises is given to Lessee. Subject to the express warranty provided in Article XXVIII of Exhibit C, the acceptance of possession by Lessee shall be deemed conclusively to establish that the Premises and all other improvements of the Complex required to be constructed by Lessor for use thereof by Lessee hereunder have been completed at such time to Lessee's satisfaction and in conformity with the plans approved by Lessee for the Tenant Improvements, pursuant to Article XXIII, of Exhibit C, unless Lessee notifies Lessor in writing within sixty (60) days after commencement of the term as

Appears in 1 contract

Samples: Lease Agreement (Syntellect Inc)

POSSESSION OF PREMISES. The Lessee If Lessor shall be entitled unable to enter into give possession of the demised premises at Premises on the date of the commencement date of the term because the construction of the Complex or the completion of the Premises has not been sufficiently completed to make the Premises ready for occupancy, or for any other reason, Lessor shall not be subject to any claims, damages or liabilities for the sole purpose of installing and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements") after receipt of notice from the Lessor's architect setting the fixturing failure to give possession on said date. The fixturing date Under said circumstances, the rent reserved and covenant to pay same shall be the first day not commence until possession of the month next following Premises is given or the Premises are ready for occupancy, whichever is earlier, and, subject to the preceding sentence, failure to give possession on the date when the Lessor's architect certifies in writing to the Lessee that the demised premises are substantially completed and ready for installation of commencement of the leasehold improvements. Rental term shall commence to be payable on in no way affect the commencement date notwithstanding that validity of this Lease or the obligations of Lessee has not completed its leasehold improvements or opened for business. Provided Alwayshereunder; provided, however, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part date of commencement of the Lessee, initial term is delayed beyond the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of the demised premises or portions thereof as they become available for fixturing provided that the fixturing date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the scheduled commencement date, the expiry expiration date of the initial term shall remain be extended to provide for a full five-year initial term of this Lease. If Lessee is given and accepts possession of the Premises on a date earlier than the date above specified for commencement of the term, the rent reserved herein and all covenants, agreements and obligations herein and the term of this Lease shall commence on the date that possession of the Premises is given to Lessee. The acceptance of possession by Lessee shall be deemed conclusively to establish that the Premises and all other improvements of the Complex required to be constructed by Lessor for use thereof by Lessee hereunder have been completed at such time to Lessee's satisfaction and in conformity with the provisions of this Lease in all respects unless Lessee notifies Lessor in writing within sixty (60) days after commencement of the term as set forth to any items not completed. Lessee waives any claim as to matters not listed in said notice. Lessee acknowledges that neither Lessor nor any agent of Lessor has made any representation or warranty with respect to the preceding Paragraph 2Premises or the Complex or with respect to the suitability or fitness of either for the conduct of Lessee's business or for any other purpose.

Appears in 1 contract

Samples: Lease (Papa Johns International Inc)

POSSESSION OF PREMISES. The Lessee shall be entitled to enter into possession "Commencement Date" of this Lease is the demised premises at the commencement date for the sole purpose of installing and completing at it sole risk, cost and expense its fixtures, improvements and furnishings earlier of: (hereinafter called "the leasehold improvements"a) after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date shall be the first day of the month next following the date when two days after the Lessordate Landlord's architect certifies in writing to the Lessee that the demised premises Improvements are substantially completed complete and ready for installation occupancy by Tenant (subject to Punch List items correction of which does not materially interfere with Tenant's use and enjoyment of the leasehold improvementsPremises); or (b) the date Tenant occupies any of the Premises. Rental The target Commencement Date is February 1, 1999. The Landlord's Improvements shall commence be deemed to be payable substantially complete and ready for occupancy on the commencement date notwithstanding that the Lessee has not completed its leasehold improvements municipality having jurisdiction thereof issues a temporary or opened permanent certificate of occupancy permitting Tenant to occupy the Premises for business. Provided Alwaysthe purposes set forth in Section 4 or takes such other action as may be customary to permit occupancy or use thereof; provided, however, that the issuance of a certificate of occupancy or the taking of such other customary action shall not be a condition to payment of Rent or commencement of the Lease Term if failure to secure such certificate or action is caused by the demised premises are not act or omission of Tenant. Landlord shall give Tenant at least sixty (60) days advance notice of the date Landlord anticipates that the Landlord's Improvements will be substantially complete and ready for the Lessee occupancy (subject to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons Punch List items correction of which does not attributable to any failure or neglect on the part materially interfere with Tenant's use and enjoyment of the Lessee, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor Premises). Landlord shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any damages arising from delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take putting Tenant in possession of the demised premises Premises provided that: (a) if the Commencement Date is delayed until after February 15, 1999, Tenant shall be entitled to a one (1) day abatement of Fixed Rent and Additional Rent due after the Commencement Date for each day of delay after February 15, 1999; and (b) if the Commencement Date is delayed until after May 1, 1999, Tenant shall have the right to terminate this Lease upon written notice given to Landlord on or portions thereof as they become available for fixturing before May 1, 1999. Tenant shall have access to the Premises approximately thirty (30) days before the estimated date of substantial completion in order to install its fixtures and computer and telephone cabling and otherwise set up its space, provided that Tenant and its installers shall coordinate their activities with and in no manner interfere with the fixturing date work of Landlord's contractors and commencement date subcontractors. Such access shall not be deemed to constitute Tenant's occupancy of the Premises for the purpose of determining the Commencement Date. However, all terms and provisions of this Lease shall apply as and from during such access, except those having to do with the time payment of Fixed Rent or times when Additional Rent. When the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises actual Commencement Date is other than the first of the monthdetermined, the Lessee parties shall pay enter into a proportionate rental for that portion of memorandum specifying the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the commencement date, the expiry Commencement Date and expiration date of the initial term shall remain as set forth in the preceding Paragraph 2this Lease.

Appears in 1 contract

Samples: Net Lease Agreement (Apex Pc Solutions Inc)

POSSESSION OF PREMISES. The Lessee shall be entitled to enter into possession To the extent permitted by law, after the ----------------------- occurrence of the demised premises at the commencement date for the sole purpose an Event of installing Default, Mortgagee and completing at it sole risk, cost its agents and expense its fixtures, improvements and furnishings any receiver appointed by a court are authorized to: (hereinafter called "the leasehold improvements"a) after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date shall be the first day of the month next following the date when the Lessor's architect certifies in writing to the Lessee that the demised premises are substantially completed and ready for installation of the leasehold improvements. Rental shall commence to be payable on the commencement date notwithstanding that the Lessee has not completed its leasehold improvements or opened for business. Provided Always, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part of the Lessee, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of the demised premises Premises (either in its entirety or portions thereof as they the Leasehold Interest or the Fee Interest separately), with or without legal action, and by force if necessary and if permitted by law; (b) lease the Premises or make modifications to or cancel the Lease; (c) maintain, repair, alter, and restore the Premises; (d) collect all rents and profits payable under the Lease directly from Lessee upon notice to Lessee that an Event of Default exists under this Mortgage accompanied by a demand on Lessee for the payment to Mortgagee of all rents due and to become available for fixturing provided due under the Lease, and Mortgagor hereby covenants and agrees that the fixturing date lessee shall unequivocally be authorized to pay said rents to Mortgagee without regard to the truth of Mortgagee's statement of default and commencement date notwithstanding notices from Mortgagor disputing the existence of an Event of Default such that the payment of rent by Lessee to Mortgagee pursuant to such a demand shall constitute performance in full of Lessee's obligation under the Lease for the payment of rents by Llessee to Agency; and (e) after deducting all costs of collection and administration expense, apply the net rents and profits to the payment of Impositions, insurance premiums and all other carrying charges (including, without limitation, agents' compensation and fees and reasonable costs of counsel, to the extent permitted by law, and receivers) and to the maintenance, repair or restoration of the Premises, or on account and in reduction of the Mortgage Obligations, in such order and amounts as and from the time or times when the Lessee takes possession for those purposesMortgagee in Mortgagee's reasonable discretion may elect. Rental Mortgagee shall be calculated upon the basis of the monthly rental payments hereinafter provided liable to account only for rents and they shall be in relation that the premises occupied profits actually received by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the commencement date, the expiry date of the initial term shall remain as set forth in the preceding Paragraph 2Mortgagee.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Fixture Filing and Assignment of Leases and Rents (Technology Flavors & Fragrances Inc)

POSSESSION OF PREMISES. The Lessee shall be entitled To the extent permitted by law, after the occurrence of a Default, Mortgagee and its agents and any receiver appointed by a court are authorized to enter into possession of the demised premises at the commencement date for the sole purpose of installing and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements"a) after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date shall be the first day of the month next following the date when the Lessor's architect certifies in writing to the Lessee that the demised premises are substantially completed and ready for installation of the leasehold improvements. Rental shall commence to be payable on the commencement date notwithstanding that the Lessee has not completed its leasehold improvements or opened for business. Provided Always, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part of the Lessee, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of the demised premises Premises, by such legal action, if any, as shall be required by law; (b) lease the Premises or portions thereof as they make modifications to or cancel leases; (c) maintain, repair, alter, and restore the Premises; (d) collect all rents, issues, income and profits payable under all Leases directly from the lessees thereunder upon notice to each such lessee that a Default exists under this Mortgage accompanied by a demand on such lessee for the payment to Mortgagee of all rents due and to become available for fixturing provided due under its Lease, and Mortgagor FOR THE BENEFIT OF MORTGAGEE AND EACH SUCH LESSEE hereby covenants and agrees that the fixturing date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental lessee shall be calculated upon under no duty to question the basis accuracy of Mortgagee's statement of default and shall unequivocally be authorized to pay said rents to Mortgagee without regard to the truth of Mortgagee's statement of default and notwithstanding notices from Mortgagor disputing the existence of a Default such that the payment of rent by the lessee to Mortgagee pursuant to such a demand shall constitute performance in full of the monthly rental payments hereinafter provided lessee's obligation under the Lease for the payment of rents by the lessee to Mortgagor; and they (e) after deducting all costs of collection and administration expense, apply the net rents and profits to the payment of Impositions, insurance premiums and all other carrying charges (including, without limitation, agents' compensation and fees and reasonable costs of counsel, to the extent permitted by law, and receivers) and to the maintenance, repair or restoration of the Premises, or on account and in reduction of the Indebtedness in such order and amounts as Mortgagee in Mortgagee's sole discretion may elect. Mortgagee shall be in relation that the premises occupied liable to account only for rents and profits actually received by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the commencement date, the expiry date of the initial term shall remain as set forth in the preceding Paragraph 2Mortgagee.

Appears in 1 contract

Samples: Mortgage Deed, Security Agreement, and Assignment of Leases and Rents (Sun Television & Appliances Inc)

POSSESSION OF PREMISES. The (a) In the event the Leased Premises have been constructed and completed at the time this Lease is executed, Lessee shall accept and occupy the same in "as is" condition, except as otherwise provided in an addendum, if any, attached hereto and signed by Lessor and Lessee. If the Leased Premises have not been completed at the time this Lease is executed, the construction and completion of same shall be entitled to enter into possession performed in accordance with the terms and provisions of Exhibit C which is or will be signed by Lessor or Lessee. (b) Lessee shall occupy the Leased Premises on the date of the demised premises beginning of the term. If construction of the Leased Premises is completed prior to the date of commencement of the term Lessee, at its option may occupy the Leased Premises prior to said commencement date and pay the base rental herein specified including prorated rent for any fractional month of occupancy. (c) If construction of the Leased Premises is not completed by the commencement date of the term due to delays caused by Lessor or its contractor, the obligations of Lessor and Lessee under this Lease shall nevertheless continue in full force and effect, but base rental payments shall not commence until the Leased Premises are ready for the sole purpose occupancy; and such abatement of installing and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements") after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date rent shall be in full satisfaction of all claims Lessee might otherwise have by reason of such delay except as set forth below. If, however, Lessee requires special work or finishing to the first day Leased Premises in addition to the standars set forth in Exhibit C and the delay in completing the Leased Premises is due to such extra or special work not having been done through no fault of Lessor, the base rental shall commence as of the month next following the date when the that Lessor's architect certifies in writing to the Lessee that the demised premises are substantially Leased Premises could have been completed and ready for installation absent the delay caused by Lessee's special or additional work. (d) Such early or late occupancy of the leasehold improvements. Rental Leased Premises by Lessee, as provided in subparagraph (b) and (c) above, shall commence operate to be payable on change the commencement scheduled ending date notwithstanding that the Lessee has not completed its leasehold improvements or opened for business. Provided Always, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part of the Lessee, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for lease term specified above by an equal period of time time. If a change in the scheduled ending date occurs, both Lessee and Lessor will execute a document stating the Lessor amended ending date in writing. The term of this Lease Agreement, as stated above, shall not be liable for any loss, damage affected by such early or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for late occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of the demised premises or portions thereof as they become available for fixturing provided that the fixturing date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied Leased Premises by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the commencement date, the expiry date of the initial term shall remain as set forth in the preceding Paragraph 2Lessee.

Appears in 1 contract

Samples: Office Lease (Saxon Capital Inc)

POSSESSION OF PREMISES. The Lessee shall be entitled to enter into possession of the demised premises at for a period of NIL (0) month(s) prior to the commencement date for the sole purpose of installing and completing at it sole risk, cost and expense its fixtures, improvements and furnishings (hereinafter called "the leasehold improvements") after receipt of notice from the Lessor's architect setting the fixturing date. The fixturing date shall be the first day of the month next following the date when the Lessor's architect certifies in writing to the Lessee that the demised premises are substantially completed and ready for installation of the leasehold improvements. Rental shall commence to be payable on the commencement date notwithstanding that the Lessee has not completed its leasehold improvements or opened for business. Provided Always, that if the demised premises are not ready for the Lessee to install its leasehold improvements so as to allow the Lessee the fixturing period provided for herein, for any reasons not attributable to any failure or neglect on the part of the Lessee, the fixturing date shall be postponed until the demised premises are ready for the Lessee to install its leasehold improvements and the commencement date shall be postponed for an equal period of time and the Lessor shall not be liable for any loss, damage or injury suffered by the Lessee by reason of any delay by the Lessor in delivering the demised premises for fixturing or for occupancy on the commencement date. Notwithstanding the foregoing, the Lessee may if it desires, but only with the Lessor's prior written consent, take possession of the demised premises or portions thereof as they become available for fixturing provided that the fixturing date and commencement date shall apply as and from the time or times when the Lessee takes possession for those purposes. Rental shall be calculated upon the basis of the monthly rental payments hereinafter provided and they shall be in relation that the premises occupied by the Lessee bears to the entire area of the demised premises. In the event a commencement date for all or a portion of the demised premises is other than the first of the month, the Lessee shall pay a proportionate rental for that portion of the month until the end of such month. Notwithstanding that possession of the demised premises may occur prior to or after the commencement date, the expiry date of the initial term shall remain as set forth in the preceding Paragraph 2.

Appears in 1 contract

Samples: Lease Agreement (Fact Corp)