Common use of Premises and Term Clause in Contracts

Premises and Term. Landlord, in consideration of the Rent hereinafter reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and the time when Landlord can deliver possession, the date when Landlord can deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date), it being the parties intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term of the Lease shall not expire until the last day of the last month of the proposed term as described in Item 1, Section (f). If the Commencement Date is other than the anticipated Commencement Date, the parties' representative shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with Landlord's covenants and obligations.

Appears in 1 contract

Samples: Lease Agreement (Florida Banks Inc)

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Premises and Term. Landlord, in consideration of the Rent hereinafter reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and the time when Landlord can deliver possession, the date when Landlord can deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date), it being the parties intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term of the Lease shall not expire until the last day of the last month of the proposed term as described in Item 1, Section (f). If the Commencement Date is other than the anticipated Commencement Date, the parties' representative shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with Landlord's ’s covenants and obligations.

Appears in 1 contract

Samples: Lease Agreement (Accentia Biopharmaceuticals Inc)

Premises and Term. Landlord, in consideration of the Rent hereinafter reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant Tenant, and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any claim, loss or damage resulting therefrom, but but, in that event, there shall be an abatement of Rent and Additional Rent covering the period between the anticipated Commencement Date and the time when Landlord can so deliver possession, the date when Landlord can so deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date thereafter Landlord so delivered possession (Commencement Date), it being the parties parties’ intent that this Lease have not less than a complete term Term as described and contemplated in Item 1, Section (fi) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term Term of the this Lease shall not expire until the last day of the last month of the proposed term Term as described in Item 1, Section (fg). If the Commencement Date is other than the me anticipated Commencement Date, the parties' representative parties representatives shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified; however, their failure to do so shall have no effect on the other contents of this Lease, such contemplated execution to be merely for clarification purposes. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with each, every, any and all of Landlord's ’s covenants and obligationsobligations with respect to the delivery thereof. Tenant shall also have the nonexclusive right to use the parking facilities appurtenant to the Building.

Appears in 1 contract

Samples: Lease Agreement (Cross Country Healthcare Inc)

Premises and Term. Landlord, in consideration of the Rent hereinafter ------------------- reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant Tenant, and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any claim, loss or damage resulting therefrom, but but, in that event, event there shall be an abatement of Rent and Additional Rent covering the period between the anticipated Commencement Date and the time when Landlord can so deliver possession, the date when Landlord can so deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date thereafter Landlord so delivered possession (Commencement Date), it being the parties parties' intent that this Lease have not less than a complete term Term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term Term of the this Lease shall not expire until the last day of the last month of the proposed term Term as described in Item 1, Section (fg). If the Commencement Date is other than the anticipated Commencement Date, the parties' representative parties representatives shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will mill be specified; however, their failure to do so shall have no effect on the other contents of this Lease, such contemplated execution to be merely for clarification purposes. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with each, every, any and all of Landlord's covenants and obligationsobligations with respect to the delivery thereof Tenant shall also have the non-exclusive right to use the parking facilities appurtenant to the Building. If, however, the Premises is not ready by February 1, 1999, either party may terminate this Lease within ten (10) days thereof or upon written notice to the other party.

Appears in 1 contract

Samples: Lease Agreement (Anything Internet Corp)

Premises and Term. Landlord, in consideration of the Rent Rentals hereinafter reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant Tenant, and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item Paragraph 1, Section (c). The Premises shall extend to the exterior faces of all walls or to the center line of those walls separating the Premises from other premises in the Building, together with the appurtenances specifically granted in this Lease, reserving to Landlord the use of the exterior walls and the roof and the right to install, use, repair or alter pipes, ducts, conduits and wires leading through the Premises not interfering with Tenant's use thereof and serving other parts of the Building. If Landlord, for any reason whatsoever, Landlord cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and the time when Landlord can deliver possession, the date when Landlord can deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date)possession, it being the parties intent that this Lease have not less than a complete term as described and contemplated in Item Paragraph 1, Section (f) above. To this end, if the actual Commencement Date is a day other Commenxxxxxx Xxxx xx x xxx xxxer than the first day of a particular month, the term of the Lease shall not expire until the last day of the last month of the proposed term as described in Item Paragraph 1, Section (f). If the Commencement Date is other than the anticipated Commencement Date, the parties' representative representatives shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with Landlord's covenants and obligations.

Appears in 1 contract

Samples: Bf Enterprises Inc

Premises and Term. LandlordSubject to the terms, covenants and conditions contained in consideration of the Rent hereinafter reserved to be paid and of the covenantsthis Lease, conditions and agreements to be kept and performed by Tenant, Landlord hereby leases, lets and demises grants to Tenant the temporary use and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). If Landlord, for any reason whatsoever, cannot deliver possession of the Premises and Tenant hereby accepts same for the Term. Tenant shall have two (2) renewal options of five (5) years each (the “Renewal Term”). Tenant may exercise its options for the Renewal Term(s) only by providing written notice of renewal to Landlord at least one hundred twenty (120) days prior to the expiration of the initial term or then current Renewal Term, as the case may be. The Premises shall be used and occupied by Tenant on solely for the Permitted Uses and for no other purpose without Landlord’s prior written consent. Tenant shall be solely responsible for obtaining all permits and approvals required by Laws in connection with Tenant’s operations at the Premises (including, without limitation, any required occupancy permit “permiso de ocupacion”, operation license “licencia de funcionamiento and/or licencia de operacion”) and shall provide a copy of same to Landlord prior to engaging in operations at the Premises. If Tenant takes possession or before enters into occupancy of the anticipated Premises prior to the Commencement Date, this Lease shall not be void such possession or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event, there occupancy shall be an abatement pursuant to all the terms, covenants and conditions of Rent covering the period between the anticipated Commencement Date and the time when Landlord can deliver possession, the date when Landlord can deliver possession being deemed to be the "Commencement Date" (Commencement Date)this Lease. The ending date Premises is demised subject to (a) the existing state of this Lease shall be extended for title as of the commencement of the Term, (b) any state of facts which an accurate survey or physical inspection thereof might show, and (c) all zoning regulations, restrictions, rules and ordinances, building restrictions and other laws and regulations now in effect or hereafter adopted by any governmental authority having jurisdiction. Landlord has not less than an identical period of made, does not make, and has not authorized anyone else to make any representation as to the present or future physical condition, operation, or any other matter or thing pertaining to the Premises except as expressly set forth herein. At any time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date), it being the parties intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, during the term of this Lease, should Electrolux offer the Lease opportunity to Tenant to participate in Electrolux’s manufacturing campus, Tenant will grant to Landlord or Landlord’s designees an exclusive option to acquire a plot of land in the Electrolux manufacturing campus selected by Tenant, so that Landlord can build and lease to Tenant an industrial building as per the plans, specifications and guidelines – “Executive Project” of Tenant. After receiving from Tenant: land cost, infrastructure requirements and building specifications, Landlord will request from the following four (4) construction contractors: Hermosillo Y Asociados, Copachisa, Arqom del Norte, and Lintel to bid on the building construction. Landlord will provide Tenant complete and detailed bidding construction quotes from all these contractors. After negotiations with the aforesaid contractors, Tenant will select and use the lowest contractor bid to calculate the lease rate and the Landlord will award the construction agreement to said contractor or to any other contractor of its choice, honoring the lowest construction bid. Landlord shall have forty five (45) calendar days to decide if it wants to exercise the exclusive option hereby granted. The exclusive option to purchase a plot of land from Electrolux, the building construction and the new lease also applies to a different site, should Tenant choose to not expire until locate in Electrolux’s manufacturing campus or, also, to any further expansion required on the last day Land of this Lease. Once the exclusive option is exercised by Landlord, an additional lease agreement for this new site, including therein expansion on the Land of this Lease, shall be executed in terms and conditions similar to the terms and conditions contained in this Lease. Construction of the last month new building will immediately commence. The initial lease term of this additional lease which shall be either seven (7) or ten (10) years at Tenant’s sole discretion. The base rent of the proposed new lease is to be computed considering the actual cost of the land, the actual cost of infrastructure, and the lowest bid of the construction of the building, the length of the lease term as described in Item 1, Section and a rate of investment return of twelve and a half percent (f12.5%). If This criteria will apply to all sites stated hereunder. Tenant shall have three (3) renewal options of five (5) years each. Tenant shall have occupancy of the Commencement Date is other than new building in a term not to exceed 10 months as of the anticipated Commencement Date, the parties' representative shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will execution of the new lease agreement. The new lease agreement and any extension thereof, must be specified. By occupying guaranteed by the Premises, Tenant shall be conclusively deemed to have accepted Guarantor upon the Premises same terms and conditions as complying fully with Landlord's covenants and obligationsthose set in the Guaranty.

Appears in 1 contract

Samples: Lease Agreement (Clarion Technologies Inc/De/)

Premises and Term. Landlord, in In consideration of the Rent hereinafter reserved mutual obligations of Landlord and Tenant set forth herein, Landlord leases to Tenant, and Tenant hereby takes from Landlord, the Premises situated within the County of Tarrant, State of Texas, more particularly described and indicated by the cross-hatched area on Exhibit "A" attached hereto and incorporated herein by reference (the "Premises") which Premises are to consist of the Building to be paid constructed pursuant to the terms hereof, together with all rights, privileges, easements, appurtenances, and amenities belonging to or in any way pertaining to the Premises, to have and to hold, subject to the terms, covenants and conditions in this Lease. During the Lease Term, Tenant shall have the exclusive use of at least 1,150 parking spaces located or to be located on the Land and the nonexclusive use of all driveways and access-ways on the Land. Landlord shall have no obligation to patrol or police any parking areas or otherwise insure that such parking spaces are available for use by Tenant or its employees, agents or invitees. Tenant agrees that its use of such parking spaces shall be subject to such reasonable rules and regulations as Landlord may from time to time promulgate and all reasonable directional and other signs from time to time existing with respect to the parking relating to the Building. Tenant's rights under this Lease shall be subject to all matters of public record, including, without limitation, all easements, deed restrictions, covenants, conditions and agreements restrictions, as exist on the date hereof and as may hereafter be imposed by Landlord (provided, however, that Landlord agrees it will not cause any matter to be kept and performed by Tenant, hereby leases, lets and demises filed of record subsequent to Tenant and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and the time when Landlord can deliver possession, the date when Landlord can deliver possession being deemed to be hereof which would interfere with the "Commencement Date" Permitted Use (Commencement Datehereinafter defined) or otherwise materially change Tenant's obligations hereunder). The ending date term of this Lease ("Term") shall be extended for not less than an identical period of time that transpired between commence on the anticipated Commencement Date (hereinafter defined) and the date Landlord delivered possession (Commencement Date), it being the parties intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term of the Lease shall not expire until end on the last day of the last month of the proposed term as described in Item 1, Section (f). If that is 180 months after the Commencement Date is other than Date. The Premises are to be situated on the anticipated Commencement Date, the parties' representative shall execute Land described on Exhibit "B" attached hereto and made a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with Landlord's covenants and obligationspart hereof.

Appears in 1 contract

Samples: Disturbance Agreement (Ameritrade Holding Corp)

Premises and Term. Landlord, in consideration of the Rent hereinafter reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant Tenant, and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). C. If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but but, in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and the time when the Landlord can deliver possession, the date when Landlord can deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date), it being the parties parties’ intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) F above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term of the Lease shall not expire until the last day of the last month of the proposed term as described in Item 1, Section (f). F. If the Commencement Date is other than the anticipated Commencement Date, the . The parties' representative ’ representatives shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with Landlord's ’s covenants and obligations.

Appears in 1 contract

Samples: Lease Agreement (Unilens Vision Inc)

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Premises and Term. LandlordIn consideration of the obligation of Tenant to pay Rent (as defined in Paragraph 4(g)), and in consideration of the Rent hereinafter reserved other terms, provisions and covenants hereof, Landlord hereby leases to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant and Tenant hereby leases takes from Landlord the Premises designated on the Data Sheet, as shown crosshatched on the plan attached hereto as Exhibit A, which Premises are located in the Building, together with all rights, privileges, easements, appurtenances, and hires from Landlordimmunities belonging to or in any way pertaining to the Premises. TO HAVE AND TO HOLD the same for the Term, provided, however, that certain space called in the Premises as described above in Item 1, Section (c). If Landlord, for any reason whatsoever, cannot deliver possession of event the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and the time when Landlord can deliver possession, the date when Landlord can deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date), it being the parties intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day date other than the first day of a particular calendar month, said Term shall be extended for said number of months in addition to the term remainder of the calendar month following the Commencement Date, and provided further that if Tenant begins to conduct business in all or any portion of the Premises before the Commencement Date, all terms and conditions of this Lease shall apply to such period, except that, on the Commencement Date, and in addition to any other Rent due and payable on the Commencement Date pursuant to this Lease, Tenant shall pay to Landlord a rental in respect of the period from the date Tenant begins to conduct business in the Premises to the Commencement Date, which rental shall be that proportion of Rent payable for the first year of the Term which the number of days in such period bears to 365. Notwithstanding the foregoing, if the Premises shall, on the scheduled Commencement Date of the Term, not expire be ready for occupancy by the Tenant due to the possession or occupancy thereof by any person not lawfully entitled thereto, or because construction has not yet been completed, or by reason of any Building operations, repair or remodeling to be done by Landlord, Landlord shall use good faith efforts to complete such construction, Building operations, repair or remodeling and to deliver possession of the Premises to Tenant. Landlord, using such good faith efforts, shall not in any way be liable for failure to obtain possession of the Premises for Tenant or to timely complete such construction, Building operations, repair or remodeling, but the Rent payable by Tenant under this Lease shall xxxxx until the last day date Landlord is able to tender possession of the last month Premises to Tenant, which date shall be deemed the “Commencement Date;” and the Term shall be automatically extended so as to include the full number of months stated on the proposed term as described in Item 1, Section (f). If Data Sheet except that if the Commencement Date is other than the anticipated Commencement Datefirst day of a calendar month, such Term shall also be extended for the parties' representative remainder of the calendar month in which possession is tendered. The taking of possession by Tenant shall execute be deemed conclusively to establish that the Premises (a) have been completed in accordance with the provisions of the Work Letter Agreement attached hereto as Exhibit B, (b) are in good and satisfactory condition as of when possession was so taken and (c) consist of the number of rentable square feet stated on the Data Sheet, it being understood and agreed that the number of rentable square feet in the Premises shall include a letter amendment to this Lease (which they are hereby authorized to do) whereby proportionate share of a mechanical room serving the Commencement Date Premises and expiration date other premises in the Building. Upon delivery of this Lease will be specified. By occupying the Premises, Tenant shall be conclusively deemed execute and deliver to have accepted Landlord a letter of accepting the Premises and confirming the Commencement Date, such letter to be in the form attached hereto as complying fully with Landlord's covenants and obligations.Exhibit E.

Appears in 1 contract

Samples: Lease Agreement (Kips Bay Medical, Inc.)

Premises and Term. Landlord, in consideration of the Rent hereinafter reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant Tenant, and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any claim, loss or damage resulting therefrom, but but, in that event, there shall be an abatement of Rent and Additional Rent covering the period between the anticipated Commencement Date and the time when Landlord can so deliver possession, the date when Landlord can so deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date), it being the parties intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term of the Lease shall not expire until the last day of the last month of the proposed term as described in Item 1, Section (f). If the Commencement Date is other than the anticipated Commencement Date, the parties' representative representatives shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified; however, their failure to do so shall have no effect on the other contents of this Lease, such contemplated execution to be merely for clarification purposes. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with each, every, any and all of Landlord's covenants and obligationsobligations with respect to the delivery thereof.

Appears in 1 contract

Samples: Lease Agreement (Cimetrix Inc)

Premises and Term. Landlord, in consideration of the Rent hereinafter ----------------- reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant Tenant, and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c). i If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but but, in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and the time when Landlord can deliver possession, the date when Landlord can deliver possession being deemed to be the "Commencement Date" (Commencement Date). The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date), it being the parties parties' intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term of the Lease shall not expire until the last day of the last month of the proposed term as described in Item 1, Section (f). If the Commencement Date is other than the anticipated Commencement Date, the parties' representative representatives shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with Landlord's covenants and obligations.

Appears in 1 contract

Samples: Lease (Virtual Mortgage Network Inc)

Premises and Term. Landlord, in consideration of the Rent hereinafter reserved to be paid and of the covenants, conditions and agreements to be kept and performed by Tenant, hereby leases, lets and demises to Tenant Tenant, and Tenant hereby leases and hires from Landlord, that certain space called the Premises as described above in Item 1, Section (c)above. If Landlord, for any reason whatsoever, cannot deliver possession of the Premises to Tenant on or before the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and the time when the Landlord can deliver possession, the date when the Landlord can deliver possession being deemed to be the "Commencement Date" (Commencement Date). ) The ending date of this Lease shall be extended for not less than an identical period of time that transpired between the anticipated Commencement Date and the date Landlord delivered possession (Commencement Date), it being the parties parties' intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (f) above. To this end, if the actual Commencement Date is a day other than the first day of a particular month, the term of the Lease shall not expire until the last day of the last month of the proposed term as described in Item 1, Section (f). If the Commencement Date is other than the anticipated Commencement Date, the parties' representative representatives shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specified. By occupying the Premises, Tenant shall be conclusively deemed to have accepted the Premises as complying fully with Landlord's covenants and obligations.

Appears in 1 contract

Samples: Lease (Oragenics Inc)

Premises and Term. LandlordIn consideration of the obligation of Tenant to pay rent as herein provided, and in consideration of the Rent hereinafter reserved to be paid other terms, provisions and of the covenantscovenants hereof, conditions and agreements to be kept and performed by Tenant, Landlord hereby leases, lets and demises leases to Tenant and Tenant hereby leases and hires from Landlord, that certain space called premises comprised of 152,372 rentable square feet in a building to be constructed in a development known as Paramount Center, Morrisville, NC (the "Building") situated on certain land (the "Land") in the County of Wake, State of North Carolina, more particularly described on Exhibit A, attached hereto and incorporated herein by reference, together with all rights, privileges, easements, appurtenances and immunities belonging to or in any way pertaining to the premises (hereinafter referred to as the "Premises"). The obligations of Tenant shall commence hereunder upon the Commencement Date and the delivery of the Premises by Landlord to Tenant. A floor plan of the Premises is attached hereto and made a part hereof as described above Exhibit B. Except as expressly set forth herein, the Premises are leased by Tenant "as is". Any upfit performed by Landlord to prepare the Premises for occupancy by Tenant shall be conducted in Item 1a good and workmanlike manner. The taking of possession by Tenant shall be deemed conclusively to establish that the Premises and any improvements thereto are in good and satisfactory condition as of when possession was taken. Tenant further acknowledges that no representations as to the repair of the Premises, Section nor promises to alter, remodel or improve the Premises have been made by Landlord, unless such representations or promises are expressly set forth in this Lease. Within five days of the Commencement Date, Tenant shall, upon demand of Landlord, execute and deliver to Landlord a letter of acceptance of delivery of the Premises, acknowledging the Commencement Date and Termination Date, the square footage leased, the square footage of the Building, and the dates for increase in payment of base rent hereunder. The Letter shall reflect an adjustment of the Commencement Date and the Termination Date hereunder to reflect the corrected dates for purposes of this Lease in the event the Premises are not occupied on the Commencement Date provided in this Lease. Notwithstanding anything to the contrary contained herein, Tenant shall not be required to take any corrective action with respect to any condition or design which constitutes a latent defect in the Premises by virtue of Tenant's acceptance of the Premises. If any latent defect affects Tenant's quiet enjoyment of the Premises, constitutes a dangerous condition or is required to be corrected by law, then Landlord will undertake the appropriate corrective action at Landlord's cost. As between Landlord and Tenant, nothing in this paragraph shall be construed to impose on Tenant or subject Tenant to any liability to any third party for injury to property or persons arising out of latent defects unless such latent defects were created by Tenant or its employees, agents or contractors in the course of repair work or physical improvements or alterations to the Premises performed by Tenant or its employees, agents or contractors. As between Landlord and Tenant, nothing in this paragraph shall be construed to impose on Landlord or subject Landlord to any liability to any third party for injury to property or persons arising out of latent defects unless such latent defects were created by Landlord or its employees, agents or contractors in the course of construction of the upfit of the Premises by Landlord, its employees, agents or contractors. All upfit of the Premises shall be performed by Landlord in accordance with plans and specifications for the Premises (cthe "Plans") which are subject to the approval of Landlord and Tenant, a copy of which shall be attached hereto and made a part hereof as Exhibit C. Landlord shall provide Tenant with an allowance in an amount up to .50 per rentable square foot of the Premises for use by Tenant in its obtaining drawings for the upfit of the Premises. The drawings obtained by Tenant are subject to the review and approval of Landlord. The contractor of Landlord shall use reasonable efforts to solicit three bids from subcontractors for each of the major trades performing upfit of the Premises, including, mechanical, electrical, plumbing, and drywall. Attached hereto as Exhibit C-1 is a schedule for the upfit of the Premises, including the dates by which Tenant must make certain decisions regarding the Premises (the "Schedule"). If LandlordLandlord and Tenant shall use diligent good faith efforts to ensure construction of the Premises remains on schedule in accordance with the Schedule, for any reason whatsoeverprovided, cannot however, that in no event shall the failure of Landlord to deliver possession of the Premises to Tenant on or before prior to the anticipated Commencement Date, this Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, but in that event, there shall be an abatement of Rent covering the period between the anticipated Commencement Date and (as hereinafter defined) constitute a default by Landlord under this Lease. TO HAVE AND TO HOLD the time when Landlord can deliver possession, same for a term commencing on the date when Landlord can deliver possession being deemed to be a temporary certificate of occupancy is issued for the Premises (the "Commencement Date" "), and ending on the date that is one hundred and twenty months (Commencement 120) thereafter, unless sooner terminated pursuant to the provisions hereof (the "Termination Date"). The ending date of this Lease Commencement Date and Termination Date shall be extended for due to delays beyond the control of Landlord, including, but not less than an identical period limited to, acts or omissions of time Tenant, force majeure, delays in obtaining permits, licenses or other approvals, acts of God, delays caused by Tenant, and/or inclement weather, including site conditions or winter weather that transpired between prohibit or adversely affect construction (the anticipated "Excused Delays"). In the event the Commencement Date and the has not occurred by November 1, 1999 due to acts or omissions of Landlord (with such date Landlord delivered possession (Commencement Datebeing extended for any Excused Delays), it being Landlord shall credit against the parties intent that this Lease have not less than a complete term as described and contemplated in Item 1, Section (ffirst installment(s) above. To this end, if of base rent due hereunder from Tenant an amount equal to one day's base rent for each day the actual Commencement Date is delayed. In the event the Commencement Date has not occurred by November 1, 1999 due to acts or omissions of Tenant (with such date being extended for any Excused Delays), Landlord shall receive from Tenant on the Commencement Date an amount equal to one day's base rent for each day the Commencement Date is delayed. The aforesaid monetary amounts shall act as a day other than sole and exclusive remedy to each party hereto for any delay in the first day Commencement Date. Option to Renew. Provided there is no default or event of a particular monthdefault by Tenant under the Lease, Tenant shall have the option to renew the term of the Lease for one renewal term of five years (the "Renewal Term") at the then prevailing market rate, as determined by Landlord provided Tenant shall not expire until provide Landlord written notice of its desire to renew the last day term of the last month Lease at least nine months prior to the Termination Date. Failure of Tenant to provide Landlord with the proposed aforesaid written notice shall render the rights of Tenant to renew or extend the term as described in Item 1, Section (f). If the Commencement Date is other than the anticipated Commencement Date, the parties' representative shall execute a letter amendment to this Lease (which they are hereby authorized to do) whereby the Commencement Date and expiration date of this Lease will be specifiednull and void. By occupying Upon the Premisesexercise by Tenant of its option to renew, Tenant all of the terms and conditions of this Lease shall be conclusively deemed to have accepted apply with base rent being the Premises as complying fully with Landlord's covenants and obligations.then prevailing market rate, and

Appears in 1 contract

Samples: Lease Agreement (Tekelec)

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